Document:

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                                                                    EXHIBIT 10.1

                                                                   July 27, 2001

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR UNDER ANY STATE SECURITIES LAW, AND MAY NOT
BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO VIASAT THAT REGISTRATION IS NOT
REQUIRED UNDER THE SECURITIES ACT.

                                     WARRANT

                           FOR THE PURCHASE OF SHARES
                                 OF COMMON STOCK
                                       OF
                                  VIASAT, INC.

                                  60,000 SHARES

                            VOID AFTER JULY 27, 2011

        THIS WARRANT (together with the Attachments and Schedule hereto, this
"Warrant") is issued to COMSAT Corporation, a Lockheed Martin Global
Telecommunications company and a District of Columbia corporation ("COMSAT"), on
July 27, 2001 (the "Warrant Issue Date") by ViaSat, Inc., a Delaware corporation
("ViaSat"). This Warrant is issued pursuant to the terms of that certain Asset
Purchase Agreement, dated as of July 13, 2001, by and between ViaSat and COMSAT
(as hereafter amended or modified, the "Asset Purchase Agreement") in connection
with the transactions contemplated by the Asset Purchase Agreement.

        1. Definitions. Terms used but not defined in this Warrant shall have
the meanings ascribed to them in the Asset Purchase Agreement.

        2. Purchase Shares. Subject to the terms and conditions hereinafter set
forth, COMSAT (together with its successors and assigns, the "Holder"), is
entitled, upon vesting and surrender of this Warrant at the principal office of
ViaSat (or at such other place as ViaSat shall notify the Holder in writing), to
purchase from ViaSat up to Sixty Thousand (60,000) fully paid and nonassessable
shares of common stock of ViaSat, as constituted on the Warrant Issue Date (the
"Common Stock"). The number of shares of Common Stock issuable pursuant to this
Paragraph 2 (the "Shares") shall be subject to adjustment pursuant to Paragraph
9 hereof.

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        3.     Exercise Price.

               (a) The Development Work Warrants (as hereinafter defined) shall
have an exercise price equal to the average of the high and low prices of ViaSat
Common Stock as quoted on the Nasdaq National Market System and reported in The
Wall Street Journal for each of the five (5) trading days immediately preceding
the date the applicable contract for Development Work is executed.

               (b) The Revenue Warrants (as hereinafter defined) shall have an
exercise price equal to the average of the high and low prices of ViaSat Common
Stock as quoted on the Nasdaq National Market System and reported in The Wall
Street Journal for each of the five (5) trading days immediately preceding the
Closing Date.

               (c) In each case, the exercise price for the Shares shall be as
adjusted from time to time pursuant to Paragraph 9 hereof.

        4.     Vesting; Exercise Period.

               (a) Vesting. The Warrant shall vest and become fully exercisable
with respect to 10,000 Shares (up to a maximum of 60,000 Shares) for each (i)
$5,000,000 of Revenues (as defined in Paragraph 5 below) in excess of
$25,000,000 generated by the Business in each of the two (2) years following the
date hereof upon determination of Revenues for each of the twelve-month periods
contemplated by, and in accordance with, Paragraph 5 below (the "Revenue
Warrants") and (ii) $5,000,000 of Development Work (as defined in Paragraph 5
below) contracted with ViaSat or its Affiliates within two years of the date
hereof upon payment by LMGT or its Subsidiaries of an aggregate of $5,000,000
for such Development Work and upon payment of each $5,000,000 in the aggregate
thereafter for any such Development Work (the "Development Work Warrants"). Upon
the vesting of each 10,000 Shares, each of the parties hereto shall cause an
authorized representative to insert the appropriate information into the Vesting
Schedule, which is attached hereto as Schedule 4. The Shares shall be subject to
COMSAT's registration rights, as set forth in the Registration Rights Agreement.

               (b) Exercise Period. This Warrant shall be exercisable to the
extent vested, in whole or in part, at any time during the ten-year exercise
period, which period shall commence on the Warrant Issue Date and end at 5:00
p.m. (EST) on July 27, 2011.

        5.     Determination of Revenues and Development Work.

               (a)    Calculation of Revenues.

               (i) For purposes of this Warrant, "Revenues" shall mean the
aggregate gross revenues attributable to or generated by the Business, including
any revenues generated or attributable to the licensing of Intellectual Property
constituting Transferred Technology, or, to the extent permitted by the License
Agreement, Licensed Technology; provided, however, that Revenues shall not
include revenues for Development Work or work on projects of ViaSat existing on
the Closing Date.

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               (ii) Promptly following each of the first and the second
anniversary of the date hereof, but in no event later than 60 days thereafter,
ViaSat shall prepare and submit to COMSAT a statement setting forth, in
reasonable detail, ViaSat's calculation of Revenue of the Business for the
preceding twelve-month period together with detailed support for such
calculation. If COMSAT disputes the correctness of the calculation of Revenue,
COMSAT shall notify ViaSat of its objections within 45 days of receipt of
ViaSat's calculations of Revenue and shall set forth, in reasonable detail, the
reasons for such objections. If COMSAT fails to deliver such notice of
objections, COMSAT shall be deemed to have accepted ViaSat's calculations.
COMSAT and ViaSat shall endeavor in good faith to resolve any disputed matters
within 20 days after COMSAT's delivery of a notice of objections. Any matters
remaining in dispute after such 20-day period shall be submitted to an
independent nationally known accounting firm selected by COMSAT and ViaSat to
resolve the disputed matters and to determine the actual amount of Revenue for
such twelve-month period. The determination of such firm in respect to the
correctness of the disputed matters shall be conclusive and binding on the
parties. The fees and expenses of such independent third party accounting firm
shall be paid one-half by COMSAT and one-half by ViaSat.

               (iii) The calculation of Revenue shall be determined in
accordance with ViaSat's historical practices and policies and in accordance
with the policies, practices and procedures set forth on Schedule 5 attached
hereto.

               (b)    Calculation of Development Work.

               (i) In the event that LMGT (or any of its Subsidiaries) and
ViaSat (or any of its Affiliates) enter into any agreement relating to complex,
satellite-based broadband development tasks to be performed by ViaSat (or any of
its Affiliates) in support of LMGT (or any of its Subsidiaries) during the
two-year period commencing on the date hereof, the parties shall, in connection
therewith, determine the aggregate amount of payments paid to ViaSat (or its
Affiliates) pursuant to such agreement. The amount of such payments shall
constitute "Development Work" for purposes of this Agreement.

               (ii) In the event that there is any dispute in the aggregate
amount of Development Work relating to any such agreement, the parties shall
submit such dispute to an independent third party accounting firm for
resolution. The determination of such firm in respect of the correctness of the
disputed matters shall be conclusive and binding on the parties. The fees and
expenses of such independent third party accounting firm shall be paid one-half
by COMSAT and one-half by ViaSat.

        6. Method of Exercise. While this Warrant remains outstanding and
exercisable in accordance with Paragraph 4 above, the Holder may exercise, in
whole or in part, the purchase rights evidenced hereby. Such exercise shall be
effected by:

               (a) the surrender of the Warrant, together with a duly executed
copy of the form of Warrant Exercise Form attached hereto, to the Secretary of
ViaSat at is principal offices; and

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               (b) the payment in cash or by certified or official bank check
payable to the order of ViaSat in an amount equal to the aggregate Exercise
Price for the number of Shares being purchased.

        7. Certificates for Shares. Upon the exercise of the purchase rights
evidenced by this Warrant, one or more certificates for the number of Shares so
purchased shall be issued as soon as practicable thereafter (with appropriate
restricted legends, if applicable), and in any event within thirty (30) days
after the delivery of the items referenced in Paragraph 6 above.

        8. Issuance of Shares. ViaSat covenants that the Shares, when issued
pursuant to the exercise of this Warrant, shall be duly and validly issued,
fully paid and nonassessable and free from all taxes, liens, and charges with
respect to the issuance thereof.

        9. Adjustment of Exercise Price and Number of Shares. The number of and
kind of securities purchasable upon exercise of this Warrant and the Exercise
Price shall be subject to adjustment from time to time as follows:

               (a) Subdivisions, Combinations and Other Issuances. If ViaSat
shall at any time prior to the expiration of this Warrant subdivide its Common
Stock, by split or otherwise, or combine its Common Stock, or issue additional
shares of its Common Stock as a dividend, the number of Shares issuable on the
exercise of this Warrant shall forthwith be proportionately increased in the
case of a subdivision or stock dividend, or proportionately decreased in the
case of a combination. Appropriate adjustments shall also be made to the
Exercise Price, but the aggregate Exercise Price for the total number of Shares
purchasable under this Warrant (as adjusted) shall remain the same. Any
adjustment under this Paragraph 9(a) shall become effective at the close of
business on the date the subdivision or combination becomes effective, or as of
the record date of such dividend, or in the event that no record date is fixed,
upon the making of such dividend.

               (b) Reclassification, Reorganization and Consolidation. In case
of any reclassification, capital reorganization, or change in the Common Stock
of ViaSat (other than as a result of a subdivision, combination, or stock
dividend provided for in Paragraph 9(a) above), then appropriate provisions
shall be made, and duly executed documents evidencing the same from ViaSat or
its successor shall be delivered to the Holder hereof, so that such Holder shall
have the right at any time prior to the expiration of this Warrant to purchase,
at a total price equal to that payable upon the exercise of this Warrant, the
kind and amount of shares of stock and other securities and property receivable
in connection with such reclassification, reorganization, or change by a holder
of the same number of shares of Common Stock as were purchasable by the Holder
hereof immediately prior to such reclassification, reorganization, or change. In
any such case appropriate provisions shall be made with respect to the rights
and interest of the Holder hereof so that the provisions hereof shall thereafter
be applicable with respect to any shares of stock of other securities and
property deliverable upon exercise hereof, and appropriate adjustments shall be
made to the Exercise Price hereunder, provided the aggregate Exercise Price
shall remain the same.

               (c) Notice to Warrant Holder of Adjustment. Whenever the number
of Shares is adjusted as herein provided, ViaSat shall cause to be mailed to the
Holder in accordance with

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the provisions of this Paragraph 9 a notice (i) stating that an event giving
rise to an adjustment hereunder has occurred, (ii) setting forth the adjusted
number of Shares and adjusted Exercise Price, if applicable, and (iii) showing
in reasonable detail the computations and the facts upon which such adjustments
are based.

        10. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant, but in lieu of such fractional shares ViaSat shall make a cash payment
therefor on the basis of the Exercise Price then in effect.

        11. Restrictions on Transfer. The Holder hereby acknowledges that
neither this Warrant nor any of the securities that may be acquired upon
exercise of this Warrant have been registered or qualified under the Securities
Act or under the securities laws of any state. The Holder acknowledges that,
upon exercise of this Warrant, the Shares to be issued upon such exercise will
be subject to a Registration Rights Agreement dated July 27, 2001 and applicable
federal and state securities (or other) laws requiring registration,
qualification or approval of governmental authorities before they may be
transferred following such exercise. The Holder agrees that the issuance of the
Shares may be deferred until the issuance or sale of such Shares shall be lawful
in all respects. The Holder acknowledges that a copy of the Registration Rights
Agreement may be obtained upon written request to the Secretary of ViaSat. The
restrictions imposed by this Paragraph 11 upon the exercise of this Warrant
shall cease and terminate as to any particular Shares (i) when such Shares shall
have been effectively registered and qualified under the Securities Act and all
applicable state securities laws and disposed of in accordance with the
registration statement covering such Shares or (ii) when, in the reasonable
opinion of counsel for ViaSat, such restrictions are no longer required in order
to insure compliance with the Securities Act and all applicable state securities
laws.

        12. Legends. Unless (i) the Shares have been registered under the
Securities Act or (ii) in the reasonable opinion of counsel for ViaSat such
legend is no longer required in order to ensure compliance with the Securities
Act and all applicable state securities laws, upon exercise of this Warrant and
the issuance of Shares hereunder, all certificates representing such Shares
shall bear on the face thereof substantially the following legend:

               "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN
        ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE
        SECURITIES ACT OF 1933, AS AMENDED. SUCH SHARES MAY NOT BE SOLD,
        TRANSFERRED OR PLEDGED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS
        SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
        DELIVERY REQUIREMENTS OF SAID ACT."

        13. Stockholder Rights. Prior to the exercise of this Warrant, the
Holder hereof shall not be entitled to any rights of a stockholder with respect
to the Shares until the date of issuance of the Shares.

        14. Transfer and Assignment.

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               (a) Except as set forth in this Paragraph 14, neither this
Warrant nor any rights hereunder may be assigned, transferred, pledged or
hypothecated in any way (whether by operation of law or otherwise); except that
COMSAT may transfer this Warrant, or any portion of this Warrant, to an
Affiliate or in connection with the sale of all or substantially all of its
assets to a third party. This Warrant shall not be subject to execution,
attachment or similar process. Any attempted assignment, transfer, pledge,
hypothecation or other disposition of this Warrant contrary to the provisions of
this Warrant shall be null and void and without legal effect.

               (b) Prior to any transfer of this Warrant or any rights hereunder
(other than any transfer to an Affiliate that is directly or indirectly wholly
owned by Lockheed Martin Corporation), the Holder shall give five (5) days prior
written notice to ViaSat of such Holder's intention to effect such transfer (a
"Transfer Notice"). The Holder agrees that the Holder will not sell, transfer or
otherwise dispose of this Warrant or any rights hereunder, in whole or in part,
except pursuant to an effective registration statement under the Securities Act
or an exemption from registration hereunder. Each Warrant issued upon such
transfer shall bear the restrictive legend set forth on this Warrant, unless in
the opinion of the transferee's or the Holder's counsel delivered to ViaSat that
is reasonably satisfactory to ViaSat in connection with such transfer such
legend is not required in order to ensure compliance with the Securities Act.

               (c) Notwithstanding the foregoing provisions of this Paragraph
14, the restrictions imposed by Paragraph 11 upon the transferability of this
Warrant and the legend requirement of Paragraph 12 hereof shall terminate as to
this Warrant or the Shares (i) when and so long as such security shall have been
registered under the Securities Act and disposed of pursuant thereto or (ii)
when the Holder or holder of Shares shall have delivered to ViaSat the written
opinion of counsel to such holder reasonably satisfactory to ViaSat, stating
that such legend is not required in order to ensure compliance with the
Securities Act. Whenever the restrictions imposed by this Paragraph 14 shall
terminate as to this Warrant and the Shares, as hereinabove provided, the holder
of the certificate evidencing such security shall be entitled to receive from
ViaSat, at the expense of ViaSat, a new Warrant or a new certificate
representing such Shares, as the case may be, not bearing the applicable
restrictive legend.

               (d) The terms and provisions of this Warrant shall inure to the
benefit of, and be binding upon, ViaSat, the Holder and their respective
successors and assigns in accordance with this Paragraph 14.

        15. Lost or Destroyed Warrant. Upon receipt by ViaSat of evidence from
Holder of the loss, theft, destruction or mutilation of this Warrant, and upon
surrender and cancellation of this Warrant, if mutilated, ViaSat shall execute
and deliver a new warrant of like tenor and date. The Holder agrees with ViaSat
that this Warrant is issued, and all the rights hereunder shall be held subject
to, all of the conditions, limitations and provisions set forth herein.

        16. Notices. All notices required under this Warrant shall be deemed to
have been given or made (i) upon personal delivery, (ii) upon confirmation
receipt that the communication was successfully sent to the applicable number if
sent by facsimile, (iii) one day after being sent, when sent by professional
overnight courier service, or (iv) five days after posting when sent by
registered or certified mail. Notices to ViaSat shall be sent to 6155 El Camino
Real, Carlsbad, CA 92009; Fax: 760-929-3926, Attn: Gregory D. Monahan, or to
such other place as ViaSat

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shall notify the Holder hereof in writing). Notices to the Holder hereof shall
be sent to COMSAT Corporation, 6560 Rock Spring Drive, Bethesda, Maryland 20817;
Fax: 301-214-7185, Attn: General Counsel, or to such other place as the Holder
shall notify ViaSat in writing).

        17. Attorney's Fees. If any action of law or equity is necessary to
enforce or interpret the terms of this Warrant, the prevailing party shall be
entitled to its reasonable attorneys' fees, costs and disbursements in addition
to any other relief to which it may be entitled.

        18. Modification and Waiver. This Warrant and any provision hereof may
be changed, waived, discharged or terminated only by an instrument in writing
signed by the party against which enforcement of the same is sought.

        19. Captions. The captions herein are included for convenience of
reference only and shall be ignored in the construction or interpretation
hereof.

        20. Construction. As used in this Warrant, the plural shall include the
singular and the singular shall include the plural.

        21. Governing Law. This Warrant shall be construed in accordance with
and governed by the law of the State of Delaware (without regard to the choice
of law provisions thereof).

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<PAGE>

        IN WITNESS WHEREOF, the parties hereto have caused this Warrant to be
duly executed by their respective authorized officers as of the day and year
first above written.

                                      VIASAT, INC.

                                      By:______________________________________
                                           Name:
                                           Title:

                                      COMSAT CORPORATION

                                      By:______________________________________
                                           Name:
                                           Title:

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<PAGE>

                              WARRANT EXERCISE FORM

        The undersigned hereby elects to exercise the within Warrant to the
extent of purchasing _____________ shares of Common Stock of ViaSat, Inc., and
hereby makes payment of $________________ in payment therefor; and if such
shares of Common Stock shall not include all of the shares of Common Stock
issuable as provided in the within Warrant, that a new warrant of like tenor and
date for the balance of the shares of Common Stock issuable hereunder be
delivered to the undersigned.

Date: _____________                       _____________________________________
                                          Signature

                                          Address: ____________________________
                                          _____________________________________

*******************************************************************************

                       INSTRUCTIONS FOR ISSUANCE OF STOCK
         --------------------------------------------------------------
         (if other than to the registered holder of the within Warrant)

Name:__________________________________________________________________________
     (Please typewrite or print in block letters)

Address: ______________________________________________________________________

Social Security or Taxpayer Identification Number: ____________________________

*******************************************************************************

                                 ASSIGNMENT FORM

        FOR VALUE RECEIVED, _________________________ hereby sells, assigns and
transfers unto ________________________________________________________________
                    Name (Please typewrite or print in block letters)
the rights to purchase Common Stock of ViaSat, Inc., a Delaware corporation,
represented by the within Warrant to the extent of shares as to which such right
is exercisable and does hereby irrevocably constitute and appoint
____________________________, as its attorney in fact, to transfer the same on
the books of ViaSat with full power of substitution in the premises.

Date: ______________                       ____________________________________
                                                   Signature

Accepted: _____________________________
          Name: _______________________
          Date: _______________________

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                                          SCHEDULE 4

                                       Vesting Schedule

<TABLE>
<CAPTION>
                               NO. OF     EXERCISE
   DATE       VESTING DATE     SHARES       PRICE     COMSAT SIGNATORY      VIASAT SIGNATORY
   ----       ------------     ------       -----     ----------------      ----------------
<S>           <C>              <C>        <C>         <C>                   <C>
                               10,000
                               10,000
                               10,000
                               10,000
                               10,000
                               10,000
</TABLE>

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                                   SCHEDULE 5

             Policies, Practices and Procedures to Determine Revenue

        Revenues are derived from the sale of communications equipment,
principally made up of the Linkway family of products, COMSAT Link Accelerators
and INTELSAT High Speed TDMA equipment and derivatives of those products.
Revenues from product sales are recognized at the time the equipment is shipped
to the customer. In addition to the sale of products, revenues are derived from
non-product sales that are comprised generally of services, such as program
management services and consulting; the sale of network control and management
systems and training in the operation of these systems. Revenues from
non-product sales are recognized monthly as those non-product services are
rendered or as may be modified in accordance with contract terms. Revenues
derived from the licensing of Intellectual Property to third parties would be
recognized at the earlier of the time at which they become due pursuant to an
existing contractual commitment or the time at which they are received by the
Business. The Business maintains a general reserve for uncollectable receivables
of $20,000. The Business, however, does not on an ongoing basis accrue for
uncollectable accounts receivable. Should a circumstance exist that would give
rise to the accrual of additional accounts receivable reserves, the Business'
established practice is to accrue for this as an expense, not as a reduction of
revenue. Revenue on contracts containing advanced payments are recognized at the
time the equipment is shipped or the non- product services are rendered. Should
a product be returned, the practice adopted by the Business would be to reduce
revenue in the period the product was returned by reversing the original
transaction.

                                     - 11 -[  *  ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION  PURSUANT  TO  RULE  24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED.

                                                                   EXHIBIT 10.30

                         CANCER COLLABORATION AGREEMENT

THIS  CANCER  COLLABORATION AGREEMENT (the "Agreement") is made and entered into
as  of  July  17,  2001  (the "Effective Date") by and between EXELIXIS, INC., a
Delaware  corporation  having its principal place of business at 170 Harbor Way,
P.O.  Box  511,  South  San  Francisco,  California  94083  ("Exelixis"),  and
BRISTOL-MYERS  SQUIBB COMPANY, a Delaware corporation having its principal place
of  business  at  Route 206 and Province Line Road, Princeton, NJ 08543 ("BMS").
Exelixis  and BMS are sometimes referred to herein individually as a "Party" and
collectively  as  the  "Parties."

                                    RECITALS

A.     BMS  is  a  multinational  health  care  company  that  has expertise and
capability  in  developing  and marketing human pharmaceuticals and has research
and  development  programs.

B.     Exelixis  is a multinational biotechnology company that has expertise and
proprietary  technology  relating  to genetic model systems, functional genomics
and  computational  biology  and  is  applying  such  technology to discover and
validate  targets  for  drug  discovery  in  a  variety  of  disease  areas.

C.     BMS  and  Exelixis  desire  to  establish  a  collaboration to apply such
Exelixis  technology and expertise to the identification and characterization of
biochemical  pathways  and  targets  in specific research areas relevant to cell
growth and proliferation, to generate small molecule therapeutic or prophylactic
compounds  directed against such targets, and to provide for the development and
commercialization  of  novel therapeutic and prophylactic products based on such
research.

NOW,  THEREFORE,  the  Parties  agree  as  follows:

1.     DEFINITIONS

The following terms shall have the following meanings as used in this Agreement:

     1.1     "ABANDONED  TARGET"  means  [  *  ]

     1.2  "AFFILIATE"  means,  with  respect  to  a  particular Party, a person,
corporation,  partnership, or other entity that controls, is controlled by or is
under common control with such Party. For the purposes of the definition in this
Section  1.2, the word "control" (including, with correlative meaning, the terms
"controlled  by"  or  "under  the  common control with") means the actual power,
either  directly  or indirectly through one or more intermediaries, to direct or
cause  the  direction  of the management and policies of such entity, whether by
the  ownership  of  at  least  fifty  percent  (50%) of the voting stock of such
entity,  or  by  contract  or  otherwise.

     1.3  "ASSAY"  means  [  *  ].

     1.4  "BACK-UP  COMPOUND"  means  [  *  ].

     1.5  "BMS  COLLABORATION  PRODUCT"  means  [  *  ].

     1.6  "BMS KNOW-HOW" means all Information Controlled by BMS (other than BMS
Patents)  and  its Affiliates during the term of the Agreement that is necessary
or  reasonably useful for Exelixis to exercise the rights licensed or granted to
it  under  Sections  5.3 and 5.5 hereof and/or to perform its obligations to the
Collaboration  under  this  Agreement.

     1.7  "BMS  PATENTS" means all Patents Controlled by BMS and its Affiliates,
including  Patents  Controlled  jointly  with  Exelixis, during the term of this
Agreement  that  are necessary or reasonably useful for Exelixis to exercise the
rights  licensed or granted to it under Section 5.3 (or which may be acquired by
it  under  Section  5.5  hereof)  and/or  to  perform  its  obligations  to  the
Collaboration  under  this  Agreement.

     1.8  "BMS  PRODUCT"  means  [  *  ].

     1.9  "BMS  SELECTED  TARGET"  means  [  *  ].

     1.10  "BMS  SOLE  PRODUCT"  means  [  *  ].

     1.11  "COLLABORATION" means all the activities performed by or on behalf of
Exelixis  or  BMS  in the course of performing work contemplated in Article 2 or
Section  3.1  or  3.5.

     1.12  "COLLABORATION  COMPOUND"  means  [  *  ].

For  clarity,  any  compound  licensed in by BMS from Third Parties for activity
against a BMS Selected Target shall not be deemed to be a Collaboration Compound
for  milestone  and  royalty  purposes  hereunder  unless  such  compound is (A)
acquired  as  a  result of the use or subsequently developed through the use, to
any  material  extent,  of  any Information relating to such BMS Selected Target
that  Remained Confidential to Exelixis at the time of use or (B) developed in a
manner or acquired as a result of activity that would otherwise have infringed a
claim  of  an  issued  or  published  (and subsequently issued) Exelixis Patent.

BMS  shall  not  have  any development or commercialization license rights under
Section  5.1(a)(iv)  with  respect  to  any  compound  that  fails  to  meet the
definition  of  a  Collaboration  Compound.  The preceding sentence shall not be
interpreted  as preventing BMS from developing or commercializing, on account of
its  ability to modulate a target other than a BMS Selected Target, a derivative
of a Lead Compound or a Back-up Compound wherein such derivative (A) was made by
BMS  pursuant  to  its license in Section 5.1(a)(iv), (B) is not a Collaboration
Compound  and (C) (1) for which the manufacture and use of such derivative would
not  infringe  an  EXEL  Patent  and  (2)  is  not  manufactured,  developed  or
commercialized through the use of EXEL Know-How that Remains Confidential at the
time  of  use.

     1.13     "CONTROLLED"  means,  with respect to any gene, protein, compound,
material, Information or intellectual property right, that the Party owns or has
a license to such gene, protein, compound, material, Information or intellectual
property right and has the ability to grant to the other Party access, a license
or  a  sublicense  (as  applicable)  to  such gene, protein, compound, material,
Information  or  intellectual  property  right  as  provided  for herein without
violating  the terms of any agreement or other arrangements with any Third Party
existing  at  the time such Party would be first required hereunder to grant the
other  Party  such  access,  license  or  sublicense.

     1.14  "DEVELOPMENT  FIELD"  means  [  *  ].

     1.15  "DILIGENT  EFFORTS"  means  [  *  ].

     1.16  "DECISION  POINT  1  (DP1)  APPROVAL"  means  [  *  ].

     1.17  "DP1  ORTHOLOGUE"  means  [  *  ].

     1.18  "DRAFT  TARGET  POOL"  means  [  *  ].

     1.19  "ELIGIBLE  TARGET"  means  [  *  ].

     1.20  "EXEL  COMPOUND"  means  [  *  ].

     1.21  "EXEL  KNOW-HOW"  means all Information Controlled by Exelixis (other
than  EXEL  Patents  or Target Inventions invented solely or jointly by BMS) and
its  Affiliates during the term of the Agreement that is necessary or reasonably
useful  for  BMS to exercise the rights licensed or granted to it under Sections
5.1  and 5.2 hereof and/or to perform its obligations to the Collaboration under
this  Agreement.

     1.22  "EXEL  PATENTS"  means  all  Patents  Controlled  by Exelixis and its
Affiliates (other than Patents claiming Target Inventions invented solely by BMS
or jointly by BMS with Exelixis, but including Patent claiming Target Inventions
invented  solely  by  Exelixis),  including Patents Controlled jointly with BMS,
during the term of the Agreement that are necessary or reasonably useful for BMS
to  exercise  the  rights licensed or granted to it under Section 5.1 hereof (or
which  may  be  acquired  by  it under Sections 5.2(b) and 5.5 hereof) and/or to
perform  its  obligations  to  the  Collaboration  under  this  Agreement.

     1.23  "EXEL  PRODUCT"  means  [  *  ].

     1.24  "EXEL  SELECTED  TARGET"  means  [  *  ].

     1.25  "GENETIC  ENTRY  POINT"  means  [  *  ].

     1.26  "GENETIC  SCREEN"  means  [  *  ].

     1.27  "INFORMATION"  means  information,  results  and  data  of  any  type
whatsoever,  in  any  tangible  or intangible form whatsoever, including without
limitation,  databases,  practices,  methods,  techniques,  specifications,
formulations,  formulae,  knowledge,  know-how,  skill,  experience,  test  data
including  pharmacological, biological, chemical, biochemical, toxicological and
clinical test data, analytical and quality control data, stability data, studies
and  procedures,  and  patent  and  other  legal  information  or  descriptions.

     1.28  "INVENTION"  means  [  *  ].

     1.29  "JOINT  INVENTION"  means  [  *  ].

     1.30  "JOINT  MANAGEMENT  TEAM"  or  "JMT" means the committee described in
Section  2.3.

     1.31 "JOINT SCIENTIFIC COMMITTEE" or "JSC" means the committee described in
Section  2.4.

     1.32  "LEAD  COMPOUND"  means  [  *  ].

     1.33  "MAJOR  MARKET"  means  [  *  ].

     1.34  "MOA  AGREEMENT"  means  the  Research  Collaboration  and Technology
Transfer  Agreement  between  Exelixis  and  BMS  dated  September  14, 1999, as
heretofore  amended  and  as  may  be  amended  from  time  to  time  hereafter.

     1.35  "MODEL  SYSTEM  TARGET"  means  [  *  ].

     1.36  "NDA"  means a New Drug Application filed with the United States Food
and  Drug Administration in conformance with applicable laws and regulations, or
the  foreign  equivalent  of  any  such  application  in  any  other  country.

     1.37  "NET  SALES"  means  [  *  ].

In the event a Product or Pharmacogenomic Product is sold as an end-user product
consisting  of  a  combination  of  active  functional elements or as a combined
product  and/or service, Net Sales, for purposes of determining royalty payments
on  such  Product or Pharmacogenomic Product, shall be calculated by multiplying
the Net Sales of the end-user product and/or service by the fraction A over A+B,
in  which A is the gross selling price of the Product or Pharmacogenomic Product
portion  of  the  end-user  product  and/or  service  when  such  Product  or
Pharmacogenomic  Product  is  sold  separately  during the applicable accounting
period  in which the sales of the end-user product were made, and B is the gross
selling  price  of the other active elements and/or service, as the case may be,
of  the  end-user  product  and/or service sold separately during the accounting
period  in  question.  All gross selling prices of the elements of such end-user
product and/or service shall be calculated as the average gross selling price of
the  said  elements  during  the  applicable accounting period for which the Net
Sales  are being calculated.  In the event that, in any country or countries, no
separate sale of either such above-designated Product or Pharmacogenomic Product
or  such  above  designated  elements of the end-user product and/or service are
made  during the accounting period in which the sale was made or if gross retail
selling  price  for  an  active functional element, component or service, as the
case  may be, cannot be determined for an accounting period, Net Sales allocable
to  the  Product  or  Pharmacogenomic  Product  in  each  such  country shall be
determined by mutual agreement reached in good faith by the Parties prior to the
end  of  the  accounting  period  in  question  based  on an equitable method of
determining  same  that  takes  into  account,  on  a  country by country basis,
variations in potency, the relative contribution of each active agent, component
or  service,  as  the case may be, in the combination, and relative value to the
end  user  of  each  active  agent,  component  or  service, as the case may be.

Notwithstanding  the  foregoing,  it  is  agreed  that  drug  delivery vehicles,
adjuvants,  and  excipients  shall  not  be deemed to be "active ingredients" or
"active  functional  elements,"  the  presence  of  which  in  a  Product  or
Pharmacogenomic  Product would be deemed to create a combination product subject
to  the  terms  of  the  preceding  paragraph.

     1.38     "PATENT"  means (a) unexpired letters patent (including inventor's
certificates)  which  have  not been held invalid or unenforceable by a court of
competent  jurisdiction  from  which  no  appeal  can be taken or has been taken
within  the required time period (and which have not been admitted to be invalid
or  unenforceable through reissue, disclaimer or otherwise, or been abandoned in
accordance  with  or  as  permitted  by the terms of this Agreement or by mutual
written  agreement),  including  without limitation any substitution, extension,
registration,  confirmation,  reissue,  re-examination, supplementary protection
certificates,  confirmation  patents,  patent  of additions, renewal or any like
filing  thereof  and  (b) pending applications for letters patent which have not
been  canceled,  withdrawn  from  consideration,  finally  determined  to  be
unallowable  by  the  applicable governmental authority for whatever reason (and
from which no appeal is or can be taken), and/or abandoned in accordance with or
as  permitted  by  the  terms  of  this  Agreement or by mutual written consent,
including  without limitation any continuation, division or continuation-in-part
thereof  and  any  provisional  applications.

     1.39  "PHARMACOGENOMIC  PRODUCT"  means  [  *  ].

     1.40 "PHASE I CLINICAL TRIAL" means a trial on sufficient numbers of normal
volunteers  and  patients  that  is  designed to establish that a pharmaceutical
product  is  safe  for its intended use, and to support its continued testing in
Phase  II  Clinical  Trials.

     1.41  "PHASE  II  CLINICAL  TRIAL"  means  a trial on sufficient numbers of
patients  that  is designed to establish the safety and biological activity of a
pharmaceutical product for its intended use, and to define warnings, precautions
and adverse reactions that are associated with the pharmaceutical product in the
dosage  range  to  be  prescribed.

     1.42  "PHASE  III  CLINICAL  TRIAL"  means a trial on sufficient numbers of
patients that is designed to establish that a pharmaceutical product is safe and
efficacious  for  its  intended  use,  and  to  define warnings, precautions and
adverse  reactions  that  are  associated with the pharmaceutical product in the
dosage  range  to  be  prescribed,  and  to  support Regulatory Approval of such
pharmaceutical  product  or  label  expansion  of  such  pharmaceutical product.

     1.43  "PHENOTYPIC  SCREEN"  means  [  *  ].

     1.44  "PRODUCT"  means  [  *  ].

     1.45  "PTP"  means  [  *  ].

     1.46  "REGULATORY  APPROVAL"  means  any  and  all  approvals  (including
supplements,  amendments,  pre-  and  post-approvals,  pricing and reimbursement
approvals),  licenses,  registrations  or  authorizations  of  any  national,
supra-national  (e.g.,  the  European  Commission or the Council of the European
Union),  regional,  state  or  local  regulatory  agency,  department,  bureau,
commission,  council  or  other  governmental entity, that are necessary for the
manufacture,  distribution,  use  or  sale  of  a  Product  in  a  regulatory
jurisdiction.

     1.47  "REMAINS  CONFIDENTIAL"  means, with respect to Information generated
pursuant  to  the  Collaboration  that is used by or on behalf of a Party or its
Affiliate  or  sublicensee,  that such Information, at the time of such use, was
not  then  in  the public domain and was not then known to a Party or any of its
Affiliates  or  licensees as a result of disclosure by a Third Party entitled to
disclose  same  without  restriction  as  to  confidentiality.

     1.48  "RESEARCH  FIELD"  means  cancer  research  [  *  ].

     1.49  "RESEARCH  PLAN"  shall  have  the  meaning set forth in Section 2.7.

     1.50  "RESEARCH  TERM"  shall  have  the duration set forth in Section 2.6.

     1.51  "REVERTED  TARGET"  shall  have the meaning set forth in Section 3.1.

     1.52  "SELECTED  TARGET"  means  [  *  ].

     1.53  "SOLE  INVENTION"  means  [  *  ].

     1.54  "TARGET"  means  [  *  ].

     1.55  "TARGET  INVENTION"  means  [  *  ].

     1.56  "THIRD  PARTY"  means any entity other than (i) Exelixis, (ii) BMS or
(iii)  an  Affiliate  of  either  Party.

     1.57  "THRESHOLD  BMS  PRODUCT"  means  [  *  ].

     1.58  "VALID  CLAIM" means (a) a claim in an issued Patent, as described in
Section  1.38(a), which has not (i) expired or been canceled, (ii) been declared
invalid  by  an  unreversed  and  unappealable  decision  of  a  court  or other
appropriate body of competent jurisdiction, (iii) been admitted to be invalid or
unenforceable  through  reissue, disclaimer or otherwise, or (iv) been abandoned
in  accordance  with or as permitted by the terms of this Agreement or by mutual
written  agreement,  or (b) a claim under a pending application for a Patent, as
described  in Section 1.38(b), that has been pending five (5) years or less from
its  date  of  filing,  and  which  have  not  been  canceled,  withdrawn  from
consideration,  finally  determined  to  be  unallowable  by  the  applicable
governmental  authority  for whatever reason (and from which no appeal is or can
be  taken),  or  abandoned.

2.     RESEARCH  PROGRAM

     2.1     OVERVIEW.  The general goals and intent of the Collaboration are to
apply the Exelixis technology to discovering Eligible Targets that may be useful
for  the  discovery  and development of small molecule drugs for the prevention,
treatment or cure of cancer.  [ * ].  The genes arising from such research shall
be  used to identify human genes which encode proteins likely to be suitable for
the development of a small molecule therapeutic or prophylactic products for the
treatment  of  cancer.  As  set  forth in more detail in Section 3.3, each Party
shall  [  *  ]  choose  those  human  genes that qualify as Eligible Targets for
development  of  a  small  molecule  cancer  drug.

     2.2  MANAGEMENT  STRUCTURE.  The  Parties  agree to establish a multi-level
committee  structure to manage and direct the Collaboration and the relationship
of the Parties in pursuing the research and development goals of this Agreement.
The committee structure is intended to facilitate decision making and management
of the various Collaboration activities of the Parties, and each Party agrees to
use good faith, cooperative efforts to facilitate and assist the efforts of such
committees.  The  overall  management  of the Collaboration with respect to work
performed  by  the  Parties under the Research Plan shall be vested in the Joint
Management  Team  (the  "JMT"),  with  responsibility,  as  further discussed in
Section  2.3,  for establishing the strategic direction of the Collaboration and
for  managing  and  directing  the  research  efforts  of  the Parties under the
Collaboration.  The  day-to-day management and direction of the Research Program
shall  be  managed  by  the  Joint Scientific Committee (the "JSC"), which shall
report  to  and  be  managed  by  the  JMT.  [  * ].  Any dispute that cannot be
resolved  by  the  JSC  for matters that come before it shall be resolved by the
JMT.
     2.3     JOINT  MANAGEMENT  TEAM.

          (A)  MEMBERSHIP.  The  Joint  Management  Team  (the  "JMT")  shall be
composed  of  four  members,  two  members appointed by each Party.  [ * ], each
Party  shall  appoint two representatives from its senior management team to the
JMT.  Each  Party  may  replace its JMT representatives at any time upon written
notice  to the other Party.  Exelixis shall designate one of its representatives
as  Chairperson  for  the  period  from  the  Effective  Date  until  the  first
anniversary  of  the  Effective  Date. Thereafter, the Parties shall alternately
designate  a  Chairperson  of  the  JMT  for each subsequent contract year.  The
Chairperson  shall  be  responsible  for  scheduling  meetings,  preparing  and
circulating  an  agenda  in  advance  of each meeting, and preparing and issuing
minutes  of each meeting within thirty (30) days thereafter.  Any JMT member may
add  topics  to  the  draft  agenda.

          (B)  RESPONSIBILITIES. During [ * ], the JMT shall meet a minimum of
[ * ] as provided in Section 2.5; thereafter, the JMT shall meet at the request
of  either  Party,  which request may be made by each Party not more than [ * ],
unless otherwise agreed to by [ * ]. The JMT shall supervise and direct the JSC,
evaluate the progress of research under the Research Plan and monitor compliance
with  the  diligence  provisions  set forth in Sections 2.7 and 3.4, and it will
make  the  final decisions regarding [ * ]. To the extent necessary to carry out
its responsibilities, a Party's JMT members shall be granted access to the other
Party's Confidential Information relevant to any decision required to be made by
the  JMT. Thus, it may be that members of the JMT, in assessing modifications to
the Research Plan, assessing the results generated in the course of carrying out
the Research Plan, or making determinations as required in this Section 2.3, may
need  to  be  granted access to higher levels of the proprietary or Confidential
Information  of  the other Party than is provided to the JSC or to the employees
of  such Party working on the Collaboration. The JMT shall discuss in good faith
and  agree  on  the level of such access that is needed to achieve the goals and
intent  of  the  Parties.

     2.4     JOINT  SCIENTIFIC  COMMITTEE

          (A) MEMBERSHIP. The Joint Scientific Committee (the "JSC") shall be
composed of four members.  Each Party may invite, with the approval of the other
Party  (which  shall  not  be  unreasonably  withheld),  additional employees or
consultants  (provided  such  employees  and  consultants  have  contractual
confidentiality  obligations  to  such  Party  that are at least as stringent as
those  set forth in this Agreement) to attend one or more meetings of the JSC as
ad  hoc,  non-voting guests.  [ * ] each Party shall appoint two representatives
to  the  JSC,  one  such  representative  being the individual at the Party with
primary  responsibility  for  the  day-to-day  management  and  execution of the
Research  Plan.  The  JSC  will  report  directly  to the JMT and shall take its
direction  from  the  JMT.  Each  Party  may  replace  its  appointed  JSC
representatives  at  any  time upon written notice to the other Party.  Exelixis
shall  designate  one  of  its  representatives  as Chairperson of the JSC.  The
Chairperson  shall  be  responsible  for  scheduling  meetings,  preparing  and
circulating  an  agenda  in  advance  of each meeting, and preparing and issuing
minutes  of each meeting within thirty (30) days thereafter.  Any JSC member may
add  topics  to  the  draft  agenda.

          (B) RESPONSIBILITIES. During [ * ] the JSC shall meet at a minimum
[  *  ].  Except  for  decisions  made by the BMS members of the JSC pursuant to
Section 1.19(c), the JSC shall operate by [ * ]. It shall be responsible for the
planning  and  execution of the Research Program. At its meetings, the JSC shall
evaluate  the  data  generated  by the Parties in the course of carrying out the
Research  Plan,  shall  prioritize the Genetic Entry Points, shall perform those
activities  specifically  described  in  this  Article  2  and Article 3 and may
consider  modifying  the  Research  Plan. At the next JMT meeting, the JSC shall
summarize  for  the JMT the progress in carrying out the Research Plan since the
last  JMT  meeting,  bring to the attention of the JMT any overarching issues or
significant changes in a Research Plan, and address any issues raised by the JMT
at  its  previous  meeting.  The  JSC  shall also prioritize projects within the
Research  Plan.  To  the  extent  necessary to carry out its responsibilities, a
Party's  JSC  members  shall be granted access to the other Party's Confidential
Information  relevant  to  any  decision  required  to  be  made by the JSC.

     2.5  MEETINGS.  The  Parties shall endeavor to schedule meetings of the JMT
and the JSC [ * ]. Meetings for the JSC shall be held on an alternating basis in
New  Jersey  and  in San Francisco. When possible, the meeting of the JMT should
occur  at  the  same location as the JSC meeting, with the JMT meeting occurring
after  the  meeting  of the JSC. With the consent of the representatives of each
Party serving on a particular committee, other representatives of each Party may
attend  meetings  of  that  committee  as  nonvoting  observers.  A meeting of a
committee  may be held by audio or video teleconference with the consent of each
Party,  provided  that  at least half of the minimum number of meetings for that
committee  shall  be  held in person. Meetings of a committee shall be effective
only  if  at least one representative of each Party is present or participating.
Each  Party shall be responsible for all of its own expenses of participating in
the  committee  meetings.

     2.6     RESEARCH  TERM.

          (A)  The  Research Term shall commence on the Effective Date and shall
continue,  unless  the  Agreement  is terminated pursuant to Section 10.2 or the
Research Term is terminated pursuant to Section 2.6(b), until at least the third
anniversary of the Effective Date.  The Research Term shall automatically extend
beyond  the  third  anniversary  of  the Effective Date, in one-year increments,
unless  a Party provides written notice, [ * ].  The research funding commitment
of  BMS  set forth in Section 7.2 shall remain in force until the termination of
the  Research  Term.

          (B)  If,  during [ * ], Exelixis or any Exelixis Affiliate controlling
Exelixis,  [  *  ]

          (C)  For  purposes  of  this  Agreement,  [  *  ].

     2.7     RESEARCH  PLAN.  The Parties have agreed in writing upon a detailed
plan for the research to be carried out by the Parties during [ * ] and prior to
the  selection  of  each  Eligible  Target  as  a Selected Target (the "Research
Plan").  The JSC shall review the Research Plan [ * ] and may propose to the JMT
revised versions of the Research Plan that are consistent with the terms of this
Agreement.  The  JMT  shall  review,  revise (if necessary) and approve all such
proposals  for  revising  the  Research  Plan.  Once  approved  by the JMT, such
revised Research Plan shall replace the prior Research Plan.  During [ * ], each
Party  shall  use  Diligent  Efforts  to perform the tasks assigned to it in the
Research  Plan  then in effect.  The Parties acknowledge and understand that the
Research  Plan  can  only  be  changed  to  add  new Genetic Entry Points if the
procedures  set  forth  in  Section  2.8  have  been  carried  out.

     2.8 GENETIC ENTRY POINTS. The Genetic Entry Points on which research may be
conducted  by  Exelixis  during  the  Research  Term are listed on Exhibit 1.25.
Additional  Genetic  Entry Points may be designated as set forth in this Section
2.8.  Prioritization  of work on the Genetic Entry Points shall be determined by
the  JSC.  [  * ], the JSC shall review the Genetic Entry Points [ * ] and shall
determine  when  a Genetic Entry Point should be re-prioritized, or removed from
further research, under the Research Plan.  At its sole discretion, Exelixis may
designate  new  Genetic  Entry  Points in the Research Field upon which Exelixis
shall  commence  research  pursuant to the Collaboration, if consistent with the
relative  priority  given  such  new  Genetic  Entry  point  by the JSC.  [ * ].

     2.9  IDENTIFICATION  OF  MODEL SYSTEM TARGETS. During [ * ], Exelixis shall
use  Diligent  Efforts  to identify, in accordance with the Research Plan, Model
System  Targets  [  *  ].

     2.10     IDENTIFICATION  OF  HUMAN  ORTHOLOGUES  OF  MODEL  SYSTEM TARGETS.

          (A)  Exelixis  shall conduct a good faith search of publicly available
databases  for  mammalian  orthologues of each Model System Target it identifies
pursuant  to Section 2.9.    [ * ], Exelixis shall present to the BMS members of
the JSC a list of all human orthologues newly identified by Exelixis pursuant to
the  preceding  sentence.  [  *  ]

          (B)  At  each  JSC  meeting,  for each human orthologue [ * ] Exelixis
shall present to the JSC the sequence of and a summary of the data [ * ].

          (C)  If  no  human  orthologue  has been identified for a Model System
Target  at  the time Exelixis presents such Model system Target to the JSC, then
the JSC shall decide whether further research should be done during the Research
Term  [  *  ].

          (D)  Upon  termination  of  the  Research  Term  (other  than  due  to
termination  of  the  Agreement),  if any Model System Target for which no human
orthologue  has  been  identified  remain,  then  either  Party  may  at its own
discretion  and expense perform, [ * ] research intended to identify one or more
human  orthologues  of  such  Model  System  Target.  [  *  ].

          (E)  [  *  ].

          (F)  [  *  ].

          (G)  [  *  ].

     2.11     IDENTIFICATION  OF  ELIGIBLE  TARGETS.

          (A) The Parties will use reasonable efforts to mutually agree [ * ].
[  *  ]  shall  bear  the  costs  it  incurs  in  the  course  of performing the
responsibilities  allocated  to  it. [ * ] shall share all resulting information
from  such  work  will  be  shared  with the other Party at or prior to the next
meeting  of  the  JSC.  Upon  completion  of  the  work  reasonably necessary to
determine  whether  a human orthologue meets the Eligible Target criteria, [ * ]
shall  promptly  decide and record in writing whether each such human orthologue
qualifies  as  an  Eligible  Target.  [  *  ].

          (B)  [  *  ].

     2.12     INTERACTION  WITH  MOA  AGREEMENT.

          (A)  After the Effective Date, BMS agrees that it will not provide any
oncology  compounds to Exelixis pursuant to the MOA Agreement or this Agreement.
[  *  ].

          (B)
               (I)  [  *  ]

               (II)  [  *  ]

               (III)  [  *  ]

          (C)  [  *  ]

          (D)  [  *  ]

          (E) The agreements of the Parties set forth in this Section 2.12 shall
bind  the  Parties  with respect to this Agreement and the MOA Agreement. If the
Parties decide that it would be helpful to execute a formal amendment of the MOA
Agreement  that  reflects  any of these agreements, then the Parties shall draft
and  execute such amendment in good faith and such amendment shall be consistent
with  the  terms  of  this  Section  2.12.

     2.13     OBLIGATIONS  OF  PARTIES.  Exelixis  and BMS shall provide the JSC
and  its  authorized  representatives  with  [  *  ].

     2.14  COLLABORATION GUIDELINES. Subject to the terms of this Agreement, the
activities  and  resources  of each Party shall be managed by such Party, acting
independently and in its individual capacity.  The relationship between Exelixis
and  BMS  is  that  of independent contractors, and neither Party shall have the
power  to  bind  or  obligate  the  other  Party in any manner, other than as is
expressly  set  forth  in  this  Agreement.

     2.15 CONDUCT OF RESEARCH. The Parties shall use Diligent Efforts to conduct
their  respective  tasks  throughout  the  Collaboration  and  shall conduct the
Collaboration  in  good  scientific  manner,  and  in compliance in all material
respects with the requirements of applicable laws, rules and regulations and all
applicable  good  laboratory practices to attempt to achieve their objectives as
efficiently  and  expeditiously  as  reasonably  practicable.

     2.16  RECORDS.  Each  Party shall maintain complete and accurate records of
all  work  conducted  under  the  Collaboration  and  all  results,  data  and
developments made pursuant to its efforts under the Collaboration.  Such records
shall  be  complete  and  accurate and shall fully and properly reflect all work
done  and results achieved in the performance of the Collaboration in sufficient
detail  and  in  good  scientific  manner  appropriate for patent and regulatory
purposes.

     2.17  REPORTS. During [ * ] each Party shall report to the JSC no less than
[  *  ]  and will submit to the other Party and the JSC a [ * ] written progress
report  summarizing the work performed under the Research Program. If reasonably
necessary for a Party to perform its work under the Collaboration or to exercise
its  rights  under  the  Agreement,  such Party may request that the other Party
provide  more  detailed  information and data regarding such results reported by
such  other  Party,  and  such other Party shall promptly provide the requesting
Party  with  information and data as is reasonably related to such request.  All
such reports shall be considered Confidential Information of the Party providing
same.

     2.18  NON-SOLICITATION.  During  [ * ], each Party and its Affiliates shall
not:  [  *  ].

     2.19     TARGETS  PREVIOUSLY  PURSUED  BY  ENTITY  ACQUIRED  BY  A  PARTY.
Subject  to  Section  3.3(d):

          (A)  The  provisions set forth in this Section 2.19 shall apply in the
event  that either Party (the "Acquiring Party") or an Affiliate of an Acquiring
Party  acquires  or  merges  with  another company (the "Acquired Entity") [ * ]

3.     SELECTION,  PURSUIT  AND  ABANDONMENT  OF  TARGETS

     3.1     DRAFT  TARGET  POOL.  Subject to Section 2.12, each Eligible Target
shall  be  added  to  the  Draft Target Pool upon its designation as an Eligible
Target  by  the  JSC  [  *  ].

     3.2     DISCLOSURE  OF  DATA  PRIOR  TO  DRAFT  CHOICE.

          (A)  To  ensure that each Party has access to all pertinent data being
developed by the other Party relating to each Eligible Target in sufficient time
to  enable  each  Party to evaluate such Eligible Target before a JSC meeting in
which  such  Eligible Target can be selected pursuant to Section 3.3, each Party
shall  provide  a  written,  reasonably detailed summary of primary data arising
from  its research on such Eligible Target in the performance of its obligations
to  the  Collaboration  [  *  ]  to the other Party's JSC members at least [ * ]
before  such  JSC  meeting.  [  *  ].

          (B)  [  *  ]

     3.3     DRAFT  CHOICE  PROCEDURES.

          (A)  At  each  JSC meeting [ * ] the Parties shall, subject to Section
2.10(g), select Eligible Targets from the Draft Target Pool as Selected Targets.
[  *  ].

          (B)  [  *  ]

          (C)  [  *  ]

          (D)  If BMS decides to deem, as an Eligible Target, a human orthologue
of  a Model System Target that would not otherwise qualify as an Eligible Target
solely on account of Exelixis' previous grant of an non-exclusive license of the
scope  described  in  Section 1.19(c), and BMS selects such Eligible Target as a
BMS  Selected  Target  pursuant  to  Section 3.3, then BMS shall have all of the
rights  and obligations set forth in this Agreement with respect to BMS Selected
Targets,  except  that  all exclusive licenses granted by Exelixis under Section
5.1  with  respect to such BMS Selected Target shall, except for the grant under
Section  5.1(a)(iii),  become  non-exclusive  (although  Exelixis shall endeavor
thereafter not to grant, subject to Article 6, additional rights with respect to
small molecule modulators of such BMS Selected Target in the Development Field).
[  *  ]

          (E)  At  the  JSC meeting [ * ] the Parties shall select any remaining
Eligible  Targets  from  the  Draft  Target  Pool or Validation Pool as Selected
Targets.  [  *  ]

          (F)  The  Parties  may  modify, by mutual written agreement, the draft
choice  procedures  set  forth  in  this  Section  3.3.

     3.4     PURSUIT  OF  SELECTED  TARGETS.

          (A)  GENERAL  DILIGENCE.  For  each  Selected  Target  selected  by  a
particular  Party,  such  Party  shall  use  good  faith  Diligent Efforts [ * ]

          (B)  SPECIFIC DILIGENCE. If a Party or its sublicensee [ * ] then such
Party  shall be deemed to have demonstrated Diligent Efforts with respect to [ *
] The foregoing shall not be construed to limit or preclude any other showing of
Diligent  Efforts  by  a  Party  based  on  actual  facts  and  circumstances.

          (C) BREACH OF DILIGENCE. Breach of the diligence obligations set forth
in  this  Section  3.4 shall not constitute a breach of this Agreement. The sole
remedy  available  to  each Party upon the other Party's breach of the diligence
obligations  is  that  the  relevant  Target  ceases to be a Selected Target and
becomes  an  Abandoned  Target.

     3.5     EXELIXIS  PARTICIPATION  IN  DEVELOPMENT  OF  BMS  PRODUCTS.

          (A)  During  [ * ], BMS may request in writing that Exelixis develop a
high  throughput  assay  to assess the activity of small molecule compounds with
respect  to  a Selected Target chosen by BMS. Such request shall specify (i) the
desired  formatting criteria for the assay and all other material specifications
for  the assay and (ii) the date by which delivery, even if (i) is met, would be
too  late  for  BMS'  needs  (the  "Assay Delivery Date"). If Exelixis wishes to
develop  such  an assay, it shall notify BMS in writing [ * ] and shall indicate
the  date  on which Exelixis anticipates commencing such work. The Parties shall
agree in writing on the specific formatting criteria for the assay and all other
material  specifications  for  the  assay  (including  without  limitation,  if
appropriate,  the  acceptance  period  and a range of variances that is mutually
agreed  upon  by  the  Parties). Unless otherwise set forth in such writing, the
Assay  Delivery  Date  shall  be  the date originally requested by BMS. Exelixis
shall use good faith Diligent Efforts to develop such an assay and deliver it to
BMS  within  [  *  ]  of  the  Assay  Delivery  Date.

               (I)  If,  prior to the Assay Delivery Date, Exelixis notifies BMS
that it will not be able to deliver the assay within [ * ] of the Assay Delivery
Date  and  identifies  a  new date by which it intends to deliver the assay (the
"Substitute  Delivery  Date"),  then  BMS shall have [ * ] to notify Exelixis in
writing  if it wants Exelixis to terminate development of the assay. If BMS does
not  so  notify  Exelixis, then BMS shall not reject the assay or refuse to make
the milestone payment set forth in Section 7.3(b) due to the fact that the assay
was  not delivered within [ * ] of the Assay Delivery Date. BMS may nevertheless
reject such assay if it is not delivered within [ * ] of the Substitute Delivery
Date.

               (II)  BMS  shall  have  [  * ] following Exelixis' delivery of an
assay  pursuant to this Section 3.5(a), to notify Exelixis in writing if BMS has
determined  that  the  delivered assay does not meet the specifications mutually
agreed  by  the  Parties  pursuant  to Section 3.5(a). If BMS does not so notify
Exelixis  within  such  [ * ] period, then the assay will be considered accepted
and  shall  be  deemed  an  "Assay" and BMS shall make the milestone payment set
forth  in  Section  7.3(b)  with  respect  to  such  Assay.

               (III)  Any  and  all  disagreements between the Parties regarding
whether  a  particular  assay  delivered  by  Exelixis  meets the specifications
mutually  agreed  by the Parties pursuant to Section 3.5(a) shall be handled
[ * ].

               (IV)  Exelixis  covenants  that  it will not [ * ]. The foregoing
covenant  shall  not  be  interpreted  to  restrict  Exelixis'  ability  to  use
Information  it  generated  in  the  development of an Assay for the purposes of
developing  other  assays,  [  *  ]

          (B) During [ * ] BMS may request in writing that Exelixis perform high
throughput  screening of EXEL Compounds in one or more assays (whether developed
by  BMS  or  EXEL)  that assess the activity of such compounds with respect to a
Selected Target chosen by BMS and subsequently conduct lead optimization of EXEL
Compounds  until  Exelixis  identifies  an analog or derivative of such compound
that  qualifies  as a Lead Compound.  Such request shall specify the assay(s) to
be  used,  whether the entire Exelixis library or certain subsets thereof should
be  screened,  and the criteria (including without limitation, if appropriate, a
range  of  variances  that  is mutually agreed upon by the Parties) that an EXEL
Compound must meet in order to be considered either a Lead Compound or a Back-up
Compound  for  such  Lead Compound.  If Exelixis wishes to perform such work, it
shall  present  BMS  with  a  proposed  detailed  work  plan (including specific
deliverables,  timetable and date on which Exelixis anticipates commencing work,
and  acceptance  procedures)  and  budget  for such work plan (including payment
schedules) within [ * ] of BMS' request.  If BMS wishes Exelixis to perform such
work  pursuant  to such budget, it shall notify Exelixis within [ * ] of receipt
of  such budget. The final detailed work plan and budget for such work plan (the
"Work  Plan")  shall  be  signed  by both Parties before any work is undertaken.
Exelixis shall use good faith Diligent Efforts to complete the work set forth in
the Work Plan; provided, that any payment that is conditioned on the performance
or delivery of certain deliverables and/or performance by a certain date must be
met  before  payment  will be owed, whether or not Exelixis shall have used good
faith  Diligent  Efforts.  If  such  work  results  in the development of a Lead
Compound,  Exelixis  shall  deliver  to  BMS such Lead Compounds and all Back-up
Compounds  for  such  Lead  Compound.  In  addition  to all payments made by BMS
pursuant  to any budget agreed upon in accordance with this Section 3.5(b) (such
payments shall be noncreditable and nonrefundable), BMS shall make the milestone
payment  set forth in Sections 7.3(c), (e) and (f) upon occurrence of the events
specified therein and BMS shall make royalty payments in accordance with Section
7.4.  Exelixis  covenants that, with respect to each BMS Selected Target against
which  Exelixis  screens its libraries pursuant to this Section 3.5(b), Exelixis
will  not  [  *  ].

     3.6     TARGET  ABANDONMENT.

          (A)  A  Selected  Target will become an Abandoned Target if any of the
following  circumstances  arise:  [  *  ].

          (B)  If  BMS  [  *  ].

          (C)  Each  Target  that  becomes  an  Abandoned  Target  [  *  ].

     3.7     TARGETS OTHER THAN SELECTED TARGETS. Exelixis has no obligations to
BMS  with  respect  to  and grants no licenses to BMS with respect to [ * ]. All
such  targets  shall  not  be  subject to any terms of this Agreement except for
Section  5.2(a)(ii)  (with respect to [ * ] and Section 3.1 (with respect to
[ * ]).

     3.8 RECORDS. Each Party shall maintain complete and accurate records of all
scientific and development work conducted on its Selected Targets, Collaboration
Compounds  and  Products and all results, data and developments made pursuant to
its  research  and development efforts under this Agreement.  Such records shall
be  complete and accurate and shall fully and properly reflect all work done and
results  achieved in sufficient detail and in good scientific manner appropriate
for  patent  and  regulatory  purposes.

     3.9  REPORTS.  Every  [  *  ],  each Party will submit to the other Party a
written  progress report summarizing the research and development work performed
by  such  Party  on  its  Selected  Targets.

     3.10  EXPENSES.  Except  as  set forth in Sections 3.5 and 7.2, [ * ] shall
bear  [  *  ]  associated  with  performing  the  research,  development  and
commercialization  described  in  Articles  2  and  3.

4.     ADDITIONAL  CONSIDERATION

     4.1     STOCK  PURCHASE  AGREEMENT.  BMS shall make an equity investment in
Exelixis  equal to a total of twenty million dollars ($20,000,000) in accordance
with  the terms set forth in the Stock Purchase Agreement between the Parties of
even  date  herewith.

     4.2  REBECCAMYCIN  ANALOG  LICENSE  AGREEMENT.  BMS shall grant Exelixis an
exclusive  license  to  the rebeccamycin analog ("Rebeccamycin Analog") known as
BMY-027557  (with the CAS Identification No. CAS-119673-08-4) in accordance with
the  terms  set  forth in the License Agreement between the Parties of even date
herewith.

5.     LICENSES  AND  RELATED  RIGHTS

     5.1     LICENSES  TO  BMS.

          (A)  EXEL  KNOW-HOW  AND  EXEL  PATENTS.  Subject to the terms of this
Agreement  (including  without  limitation  Section  5.2  and  Article  6):

               (I)  RESEARCH.  Exelixis  hereby  grants  BMS  a  non-exclusive,
worldwide, royalty-free license (with the right to sublicense to its Affiliates,
but  without  the right to sublicense to Third Parties except with prior written
consent  of  Exelixis),  under  any EXEL Know-How and EXEL Patents solely (A) to
perform the research tasks assigned to it pursuant to Sections 2.10(c), 2.11 and
3.1(a),  and  (B)  to  perform  research,  during  [  * ] and in accordance with
Sections  2.10(d)  and  2.11, upon mammalian orthologues of certain Model System
Targets.

               (II) BMS SELECTED TARGETS. Exelixis hereby grants BMS an
exclusive,  worldwide, royalty-bearing (solely to the extent provided in Section
7.4)  license  (with  the right to sublicense), under any EXEL Know-How and EXEL
Patents  covering  the  composition,  manufacture,  or  use  of  one or more BMS
Selected  Targets,  to make and use each such BMS Selected Target (A) to perform
research within the Research Field upon each such BMS Selected Target, including
using  such  BMS  Selected  Target to search for Collaboration Compounds, (B) to
develop,  and  make  or have made for use in the Development Field, BMS Products
comprising  or  incorporating Collaboration Compounds, (C) to develop, following
the  commencement of a clinical trial of a BMS Product in the Development Field,
such  BMS  Product  for  any  human indication, and (D) to make, have made, use,
import,  sell,  offer  to  sell  and  have  sold  BMS  Products.

               (III) ASSAYS. Exelixis hereby grants BMS an exclusive, worldwide,
royalty-bearing (solely to the extent provided in Section 7.4) license (with the
right  to  sublicense),  under  any  EXEL Know-How and EXEL Patents covering the
composition  or use of one or more Assays, (A) to make and have made such Assay,
(B)  to  use each such Assay to search for, make and have made (1) Collaboration
Compounds with activity against the BMS Selected Target for which such Assay was
developed,  and (2) compounds that lack activity against the BMS Selected Target
for  which  such Assay was developed, (C) to develop, and make or have made, for
use  in  the  Development  Field (and in any defined field licensed by BMS under
Section  5.2(b)(iii)), BMS Collaboration Products, and (D) to develop, following
the  commencement  of  a  clinical  trial  of a BMS Collaboration Product in the
Development  Field,  such  BMS  Collaboration  Product for any human indication.
Such  license  shall  convert  to  a non-exclusive license, on an Assay-by-Assay
basis,  on  the  earlier  of  (x)  the  date  that is [ * ] after the end of the
Research  Term, or (y) the BMS Selected Target relating to such Assay becomes an
Abandoned  Target  and  is  selected  by  Exelixis  as  an EXEL Selected Target.

               (IV) LEAD COMPOUNDS/BACK-UP COMPOUNDS. Exelixis hereby grants BMS
a  worldwide,  royalty-bearing  (solely  to  the extent provided in Section 7.4)
license (with the right to sublicense), under any EXEL Know-How and EXEL Patents
during  the term of this Agreement covering the composition, manufacture, or use
of  a  Lead  Compound  delivered  to BMS pursuant to Section 3.5(b) or a Back-up
Compound  for such Lead Compound, (A) to make derivatives of such Lead Compounds
and  Back-up  Compounds, (B) to research, develop, and make or have made for use
in the Development Field, BMS Collaboration Products comprising or incorporating
such  a Lead Compound or Back-up Compound or derivative thereof, (C) to develop,
following  commencement  of a clinical trial of such a BMS Collaboration Product
in  the  Development  Field,  such  BMS  Collaboration  Product  for  any  human
indication,  and  (D)  to  make, have made, use, import, sell, offer to sell and
have  sold  such BMS Collaboration Products.  The foregoing license shall be (x)
exclusive  with  respect to Lead Compound and Back-up Compounds delivered to BMS
pursuant  to  Section 3.5(b) and BMS Collaboration Products containing such Lead
Compounds or Back-up Compounds and (y) non-exclusive with respect to derivatives
of  Lead  Compounds  and  Back-up Compounds delivered to BMS pursuant to Section
3.5(b)  and  BMS  Collaboration  Products  containing  derivatives  of such Lead
Compounds  and  Back-up  Compounds.  [  *  ].

               (V)  PHARMACOGENOMIC  USES.  Exelixis  hereby  grants  BMS  a
non-exclusive,  worldwide,  royalty-bearing  (solely  to  the extent provided in
Section 7.4) license (with the right to sublicense), under the EXEL Know-How and
EXEL Patents covering the composition, manufacture or use of any Selected Target
of  either  Party,  to  use  such  Selected Target in the research, development,
manufacture,  use,  import, sale and offer for sale of a Pharmacogenomic Product
for  use  (A)  in  connection  with the research, development, manufacture, use,
import,  sale  and  offer  for sale, for any indication, of a (i) BMS Product or
(ii)  a  product that modulates the same Selected Target as such BMS Product via
substantially  the  same molecular mechanism of action (a "Target Product"), and
(B)  in  the  labeling, promotion, and registration of any BMS Product or Target
Product  for  any  indication.  Such  license  for  a particular Pharmacogenomic
Product  shall  be  sublicensable  solely  (x)  together with a sublicense under
Section  5.1(a)(ii)  with  respect to a related BMS Product or (y) by BMS or its
sublicensee,  for the purpose of developing or commercializing a Pharmacogenomic
Product  for  use  in  conjunction  with  a  related BMS Product that BMS or its
sublicensee  is  developing  or  commercializing.  Provided that a sublicense is
granted  in  accordance with the restrictions set forth in the previous sentence
and  such  sublicense  does  not  further  limit  the scope of the sublicensee's
practice  of  the  EXEL Know-How and EXEL Patents, such sublicensee may practice
the  full  extent  of the license set forth in this Section 5.1(a)(v), including
making,  providing,  and  selling  Pharmacogenomic  Products for use with Target
Products.  [  *  ].

               (VI)  NEGATIVE  SCREENING  USING  EXEL  TARGETS.  Exelixis hereby
grants  to  BMS a non-exclusive, worldwide, non-royalty bearing license (without
the  right  to  sublicense  except to its Affiliates) under any EXEL Patents and
EXEL  Know-How covering the composition, manufacture, or use of an EXEL Selected
Target,  to  use  such EXEL Selected Target solely in secondary screening assays
developed  by  or  for  BMS  to  identify,  research  and  develop Collaboration
Compounds  and  BMS  Products  that  lack  the  ability  to inhibit, activate or
otherwise  modulate  the  activity  of  such EXEL Selected Target. The foregoing
license  does  not include the right of BMS to use any assays developed by or on
behalf  of  Exelixis  with  respect  to  EXEL  Selected  Targets.  [  *  ].

               (VII) EXELIXIS VALIDATION PROTOCOLS AND REAGENTS. Exelixis hereby
grants  to  BMS  a  non-exclusive,  worldwide, royalty-free license (without the
right  to  sublicense except to its Affiliates) under the EXEL Know-How and EXEL
Patents relating to (A) the Exelixis validation protocols and reagents listed on
Exhibit  5.1(a)(vii)  (as  updated  from  time  to  time by the JSC) and (B) all
validation  protocols  and reagents that are developed by Exelixis in the course
of  performing its duties under the Research Plan, to use same for all purposes.
(VIII)  IMPROVEMENTS  TO  BMS VALIDATION PROTOCOLS AND REAGENTS. Exelixis hereby
grants  to  BMS a non-exclusive, worldwide, royalty-free license (with the right
to sublicense) under the EXEL Know-How and EXEL Patents to use for all purposes,
all  improvements to the validation protocols and reagents licensed by BMS under
Section  5.3(d) that incorporate or contain any of such validation protocols and
reagents  licensed  by  BMS.

          (B)  TARGET  INVENTIONS.

               (I)  Subject  to  the  terms  of  this Agreement, Exelixis hereby
grants  BMS  an  exclusive,  worldwide,  royalty-free license (with the right to
sublicense),  under the Target Inventions invented solely by BMS and all Patents
Controlled  by  Exelixis  that  claim such Target Inventions, to use such Target
Inventions  for  all  purposes other than those for which Exelixis has exclusive
rights  pursuant  to  Section  5.3.

               (II)  Subject  to  the  terms  of this Agreement, Exelixis hereby
grants  BMS  a  worldwide,  royalty-free license (with the right to sublicense),
under the Target Inventions invented jointly by BMS and Exelixis and all Patents
Controlled  by  Exelixis  that claim such Target Inventions, to use, without any
accounting  or  obligation  to,  or  consent  required of, Exelixis, such Target
Inventions  for  all  purposes other than those for which Exelixis has exclusive
rights pursuant to Section 5.3. The foregoing license is exclusive, with respect
to  BMS  Selected Targets, for those purposes for which BMS has exclusive rights
pursuant  to  Section  5.1(a)(ii);  such  license  is co-exclusive for all other
permitted  purposes.

               (III)  The  license  rights  to  a  Target  Invention  (or Patent
obtained thereon) granted under 5.1(b)(i) and (b)(ii) above shall last until the
expiration  of  the  last to expire Patent claiming a Target Invention or, if no
Patent  is  obtained  thereon,  for  the  useful  life  thereof.

     5.2     LICENSE  LIMITATIONS  AND  OPTION.

          (A)  LICENSE  LIMITATIONS.

               (I)  BMS  hereby covenants that it will not use any EXEL Know-How
(to  the  extent the same Remains Confidential to Exelixis at the time of use by
BMS),  Target  Invention or EXEL Patents for a purpose other than that expressly
permitted  in  Section  5.1.  [  *  ].

               (II)  Subject  to  Section  6.2,  for  each  BMS Selected Target,
Exelixis  hereby  covenants  [  *  ].

               (III)  For  purposes  of  Sections  5.1(a)(ii),  5.1(a)(v)  and
5.1(a)(vi),  EXEL  Know-How  shall  be limited to Information developed by or on
behalf  of  Exelixis  prior  to  the Effective Date or in the performance of the
Collaboration and prior to the first selection by either Party of such Target as
a  Selected  Target,  and  the EXEL Patents shall be limited to those that cover
Inventions  made  by  or on behalf of Exelixis prior to the Effective Date or in
the  performance of the Collaboration and prior to the first selection by either
Party of such Target as a Selected Target. For purposes of Section 5.1(a)(i) and
5.1(a)(vii)(B),  the  EXEL Know-How shall be limited to Information developed by
or  on  behalf  of Exelixis prior to the Effective Date or in the performance of
the  Collaboration  and  prior  to  the  end  of the Research Term, and the EXEL
Patents  shall be limited to those that cover Inventions made by or on behalf of
Exelixis  prior to the Effective Date or in the performance of the Collaboration
and  prior to the end of the Research Term. For purposes of Section 5.1(a)(iii),
the  EXEL Know-How shall be limited to that Information developed by Exelixis in
the  performance of the Collaboration and prior to delivery of the Assay to BMS,
and the EXEL Patents shall be limited to those that cover Inventions made in the
performance  of the Collaboration and prior to the delivery of the Assay to BMS.
With  respect  solely  to the derivatives non-exclusively licensed under Section
5.1(a)(iv),  the  EXEL  Know-How  so  licensed  shall  be limited to Information
developed  by  Exelixis  in  the  performance  of the Collaboration and prior to
delivery  of the relevant Lead Compound or Back-Up Compound to BMS, and the EXEL
Patents  so licensed shall be limited to those that cover Inventions made in the
performance  of the Collaboration and prior to the delivery of the relevant Lead
Compound  or  Back-Up  Compound  to  BMS.

               (IV)  Each sublicense granted by BMS, pursuant to Section 5.1(a),
to  a  party  who  is  an  Affiliate  at  the time such license is granted shall
terminate  immediately  upon  such  party  ceasing  to  be  an  Affiliate.

          (B)  OPTION  FOR  NON-EXCLUSIVE  LICENSE.

               (I)  [  *  ]

     5.3     LICENSES  TO  EXELIXIS.    Subject  to  the terms of this Agreement
(including  without  limitation  Section  5.4):

          (A)  RESEARCH.  BMS hereby grants Exelixis a non-exclusive, worldwide,
royalty-free  license  (with  the right to sublicense to Affiliates, but without
the  right  to  sublicense to Third Parties except with prior written consent of
BMS)  under  the  BMS  Know-How  and BMS Patents, solely (A) to perform research
during the Research Term in accordance with Articles 2 and 3, and (B) to perform
research,  during  [  * ] and in accordance with Sections 2.10(d) and 2.11, upon
mammalian  orthologues  of  certain  Model  System  Targets.

          (B)  EXEL  SELECTED  TARGETS. BMS hereby grants Exelixis an exclusive,
worldwide,  royalty-free  license  (with the right to sublicense), under the BMS
Know-How and BMS Patents covering the composition, manufacture, or use of one or
more  EXEL Selected Targets, to make and use each such EXEL Selected Targets (A)
to perform research within or outside the Research Field upon each EXEL Selected
Target,  including  using  such EXEL Selected Target to search for Collaboration
Compounds,  and  (B)  to  research, develop, make, have made, use, import, sell,
offer  to  sell  and have sold, for use within or outside the Development Field,
EXEL  Products  comprising  or incorporating such Collaboration Compounds.  Such
license  shall  be  subject  to  a  retained  right in BMS (sublicensable to its
Affiliates  only)  to  use  and  practice same for research outside the Research
Field upon such EXEL Selected Target and to make and have made, and to use same,
to  develop  BMS  compounds  for  use  outside  the  Development  Field.

          (C)  TARGETS.  BMS hereby grants to Exelixis a worldwide, royalty-free
license  (with  the  right to sublicense) under the BMS Know-How and BMS Patents
covering  the composition, manufacture, or use of a Target, to make and use each
such  Target:  [ * ].  Such licenses shall be exclusive for purposes of subparts
(i)-(iii)  and  non-exclusive  for  purposes  of  subpart (iv), and [ * ].  Such
licenses  in  subparts (i) and (iv), to the extent they apply to Sole Inventions
of  BMS, shall be sublicensable to a Third Party for a given BMS Selected Target
only  if  the  Third  Party  grants  or  agrees to grant to Exelixis a worldwide
license  (with  the  right to sublicense), under such Third Party's know-how and
patents  covering  the  composition, manufacture, or use in oncology of such BMS
Selected  Target,  to  make  and  use each such BMS Selected Target to research,
develop,  make,  have  made, use, sell, offer to sell, have sold and import, for
use  within the Development Field, products containing small molecule modulators
of  such  BMS  Selected Target.  The foregoing sublicensing limitation shall not
apply  to  sublicensing  of  BMS  Know-How  and  BMS  Patents  that are not Sole
Inventions  of  BMS.

          (D)  VALIDATION  PROTOCOLS  AND  REAGENTS.

               (I)  BMS  hereby  grants  to Exelixis a non-exclusive, worldwide,
royalty-free  license (without the right to sublicense except to its Affiliates)
under  the  BMS  Know-How  and  BMS  Patents  directly  relating to: (A) the BMS
validation protocols and reagents listed on Exhibit 5.3(d), as updated from time
to  time  by  the  JSC,  and  (B) all validation protocols and reagents that are
developed by BMS in the performance of its duties under the Research Plan to use
same  for  all  purposes.

               (II)  BMS  hereby  grants to Exelixis a non-exclusive, worldwide,
royalty-free  license  (with the right to sublicense) under the BMS Know-How and
BMS  Patents  to  use  for  all  purposes,  all  improvements  to the validation
protocols  and  reagents  licensed  by  Exelixis  under Section 5.1(a)(vii) that
incorporate or contain any of such validation protocols and reagents licensed by
Exelixis.

          (E)  ASSAYS.  So  long as BMS' rights under Section 5.1(a)(iii) remain
exclusive,  BMS  hereby  grants Exelixis a non-exclusive, worldwide royalty-free
license  (without  the  right to sublicense except to its Affiliates), under the
EXEL  Know-How and EXEL Patents covering the composition or use of a given Assay
solely  to  use such Assay pursuant to a Work Plan agreed to by BMS and Exelixis
under  Section  3.5(b)  where  Exelixis  will  use  such  Assay  to perform high
throughput  screening  to identify compounds which have or lack activity against
the  Selected  Target  for  which  such  Assay  was  developed.

          (F)  NEGATIVE  SCREENING  USING  BMS  TARGETS.  BMS  hereby  grants to
Exelixis  a  non-exclusive, worldwide, non-royalty bearing, license (without the
right  to  sublicense  except  to  its Affiliates) under any BMS Patents and BMS
Know-How  covering  the  composition,  manufacture,  or  use  of an BMS Selected
Target,  to use such BMS Selected Target solely in secondary screening assays to
identify,  research and develop Collaboration Compounds that lack the ability to
inhibit,  activate  or  otherwise  modulate  the  activity  of such BMS Selected
Target.  The foregoing license does not include the right of Exelixis to use any
assays  developed by or on behalf of BMS with respect to BMS Selected Targets.
[  *  ].

          (G)  PHARMACOGENOMIC USES. BMS hereby grants Exelixis a non-exclusive,
worldwide,  royalty-free  license  (with the right to sublicense), under the BMS
Know-How  and  BMS  Patents covering composition, manufacture, or use of all the
Selected  Targets  of either Party, to use such Selected Target in the research,
development,  manufacture,  use,  import,  sale  and  offer  for  sale  of  a
Pharmacogenomic  Product  for  use  (A)  in  connection  with  the  research,
development,  manufacture,  use,  import,  sale  and  offer  for  sale,  for any
indication,  of  an  (i)  EXEL  Product or (ii) a Target Product, and (B) in the
labeling,  promotion, and registration of any EXEL Product or Target Product for
any  indication.  Such license for a particular Pharmacogenomic Product shall be
sublicensable  solely  (x)  together with a sublicense under Section 5.3(b) with
respect to a related EXEL Product or (y) by Exelixis or its sublicensee, for the
purpose  of  developing  or commercializing a Pharmacogenomic Product for use in
conjunction  with  a  related  EXEL  Product that Exelixis or its sublicensee is
developing  or  commercializing.  Provided  that  a  sublicense  is  granted  in
accordance  with  the  restrictions  set forth in the previous sentence and such
sublicense does not further limit the scope of the sublicensee's practice of the
BMS  Know-How  and BMS Patents, such sublicensee may practice the full extent of
the  license  set forth in this Section 5.3(g), including making, developing and
selling  Pharmacogenomic  Products  for  use  with  Target  Products.  [  *  ].

     5.4     LICENSE  LIMITATIONS.

          (A)  For  purposes  of Sections 5.3(b), 5.3(c), 5.3(f) and 5.3(g), the
BMS  Know-How  shall be limited to that Information developed by or on behalf of
BMS  in the performance of the Collaboration and prior to the first selection by
either  Party  of such Target as a Selected Target, and the BMS Patents shall be
limited  to  those  that  cover  Inventions  made  by or on behalf of BMS in the
performance  of  the  Collaboration  and  prior to the first selection by either
Party  of  such Target as a Selected Target). For purposes of Section 5.3(a) and
5.3(d)(i)(B),  the  BMS Know-How shall be limited to Information developed by or
on behalf of BMS in the performance of the Collaboration prior to the end of the
Research  Term,  and  the  BMS  Patents  shall  be  limited  to those that cover
Inventions  made  by or on behalf of BMS in the performance of the Collaboration
prior  to  the  end  of  the  Research  Term.

          (B)  Exelixis  hereby  covenants that it will not use any BMS Know-How
(to  the  extent  the  same  Remains  Confidential  to BMS at the time of use by
Exelixis)  or  BMS  Patents for a purpose other than that expressly permitted in
Section  5.3.

          (C) Each sublicense granted by Exelixis, pursuant to Section 5.3, to a
party  who  is  an Affiliate at the time such license is granted shall terminate
immediately  upon  such  party  ceasing  to  be  an  Affiliate.

     5.5     RIGHTS  OF  FIRST  NEGOTIATION.

          (A)  BMS  RIGHT  OF  FIRST  NEGOTIATION.  [  *  ].

          (B)  EXELIXIS  RIGHT  OF  FIRST  NEGOTIATION.  [  *  ].

          (C)  [  *  ].

          (D)  [  *  ].

          (E)  [  *  ].

6.     EXCLUSIVITY

     6.1     EXELIXIS.  During [ * ] (unless this Agreement is terminated sooner
by  Exelixis  for material breach by BMS), Exelixis shall not [ * ].  Those EXEL
Products  arising  from  Exelixis' sole work (without any involvement of a Third
Party  collaborator or sublicensee) on EXEL Selected Targets shall be subject to
the right of first negotiation set forth in Section 5.5(a).  Those EXEL Products
that  are  Controlled  by  Exelixis  shall  be  subject  to  the  right of first
negotiation  set  forth  in  Section  5.5(a)  and  the  foreign  right  of first
negotiation  in  Section  5.5(d).

     6.2     INDEPENDENT  RESEARCH.

          (A)  Exelixis  shall use Diligent Efforts to maintain exclusivity with
respect  to  the  individual  elements  of  data  and  Inventions  that Exelixis
generates,  delivers  and licenses to BMS under this Agreement.  Notwithstanding
the  foregoing,  the  exclusivity  of any licenses granted to BMS under Sections
5.1(a)(ii)  and  5.1(a)(iv)  shall  be  subject to rights granted by Exelixis to
Third  Parties or retained by Exelixis for internal use, as a result of research
that  performed  by  Exelixis  under  the  following  circumstances:
               (I)  Subject  to  Section  2.12(d),  Exelixis may be engaged by a
Third  Party  to  identify  the  target  of  a compound. Exelixis may reveal the
identity of the target to the Third Party and grant the Third Party a license to
such  target  under intellectual property rights Controlled by Exelixis, and the
Third  Party  may  be entitled to use the target and research results pertaining
thereto  for  any  purpose  (the  scope of the license depending on the terms of
Exelixis' agreement with the Third Party under which it performed such work). If
the  target is an Eligible Target or a BMS Selected Target, Exelixis will inform
the  Third  Party  that,  on  account  of its exclusivity obligations to another
party,  Exelixis  is  unable  to  perform  further  work  on  this  target.

               (II) Exelixis may be engaged by a Third Party to identify targets
in  a  molecular  field  (the "Other Field") other than the Research Field. Such
research  may  result in the identification of targets that are Eligible Targets
or  Selected  Targets.  Exelixis may study the role of such targets in the Other
Field and may grant such Third Party licenses to use such targets in appropriate
indications,  which  may  overlap  with  the  Development  Field.  [  *  ].

               (III)  Exelixis  may  be  engaged  by  a  Third  Party to perform
chemistry  work  upon  a  target  that,  at  the  time  Exelixis enters into the
agreement  with  the  Third  Party that governs such work, is not a BMS Selected
Target.  Exelixis may continue such work even if the target subsequently becomes
a  BMS  Selected Target and Exelixis may grant such Third Party a license to use
compounds  arising  from such work for any purpose, including indications in the
Development  Field.

          (B)  Subject  to  Section  6.1,  Exelixis  may  use,  in  research
described in Section 6.2(a), the following Information generated pursuant to the
Collaboration, provided that Exelixis does not INITIATE such research using: [ *
].  Exelixis  may  petition BMS at any time during the term of this Agreement to
add certain Information generated pursuant to the Collaboration to the foregoing
list.  Such addition shall only be made upon the mutual written agreement of the
Parties.  For  the  purposes of this Section 6.2(b), the Parties acknowledge and
agree  that  Exelixis'  use  of any Information specified in this Section 6.2(b)
shall  not  be  considered  use in "initiating" research if, prior to the use of
such Information, [ * ].  The foregoing shall not be interpreted as a limitation
on Exelixis' right to use Information generated pursuant to the Collaboration in
a  manner  that  does not conflict with Section 6.1 and, to the extent that such
Information is generated by BMS in the course of the Collaboration, the licenses
granted  to  Exelixis  in  Section  5.3.

          (C)  Upon request of the JSC, Exelixis shall consult with the JSC from
time  to time regarding its procedures for seeking to avoid overlapping research
activities  on  behalf  of  multiple  Third  Parties.

     6.3     OTHER  RESEARCH.

          (A) Subject to Sections 5.1 and 5.5(a)(iv), the Parties understand and
agree  that  Exelixis  may  use  Information  [ * ].  Since the foregoing is not
independent  research  (as described in Section 6.2), Exelixis may initiate such
research  using  such  Information.

          (B)  Exelixis  shall  disclose  to  BMS  all target identification and
validation  Information  [  *  ].  Such  Information  is included in the license
granted  to  BMS  in  Section  5.1(a)(ii)  and  BMS  may use such Information in
accordance  with  such  license.  Similarly,  Exelixis may disclose to [ * ] the
target  identification  and  validation  Information  [  *  ]

7.     COMPENSATION

     7.1     LICENSE  FEE.  BMS shall pay Exelixis a license fee of five million
dollars  ($5,000,000)  [  * ].  All license fee payments made by BMS to Exelixis
pursuant  to  this  Section  7.1  shall  be  noncreditable  and  nonrefundable.

     7.2  RESEARCH  SUPPORT.  On  the  Effective  Date, BMS will make a research
support  payment to Exelixis equal to [ * ].  On or prior to the commencement of
each [ * ] during the Research Term, BMS will make a research support payment to
Exelixis  equal  to  [ * ]; provided that, [ * ].  All research support payments
made  by  BMS  to  Exelixis  hereunder shall be noncreditable and nonrefundable.

     7.3  MILESTONE  PAYMENTS.  All  milestone  payments made by BMS to Exelixis
hereunder  shall  be  noncreditable  and nonrefundable.  Subject to the terms of
this  Agreement:

          (A)  SELECTED  TARGETS. BMS shall make a milestone payment to Exelixis
of     [ * ] after BMS' selection, pursuant to Section 3.3 or 5.5(e), of (i) the
sixth  BMS  Selected  Target  and (ii) each subsequent sixth BMS Selected Target
(wherein  the  counting of BMS Selected Targets restarts at one after each group
of  six).  Upon  the  last  JSC  meeting after the end of the Research Term, BMS
shall  make  a  milestone  payment  to  Exelixis  equal  to  [  *  ].

          (B)  ASSAY  DEVELOPMENT.  For  each  Assay, BMS shall make a milestone
payment  to  Exelixis  of  [ * ] after BMS' acceptance of such Assay pursuant to
Section  3.5(a).

          (C)  PTP.  For  each  approval  by  the  BMS  Lead Discovery Operating
Committee  or its successor of a PTP for a BMS Selected Target, BMS shall make a
milestone  payment  to  Exelixis  of  [  *  ]  after  such  approval.

          (D)  MILESTONE  PAYMENT  DATES  [  *  ].
               (I)  Each  milestone payment set forth in subsections (a) and (c)
of this Section 7.3 shall accrue at the time of the specified event and shall be
paid  within  [  *  ]  after  such  event  (the  "Payment  Due  Date")  [  *  ]

          (E) DEVELOPMENT OF LEAD COMPOUND. For each Lead Compound developed by
Exelixis  pursuant  to  Section  3.5(b),  BMS  shall make a milestone payment to
Exelixis  of  [  *  ]  after  BMS'  acceptance  of  such  Lead  Compound.

          (F) BMS PRODUCTS. For each BMS Product, BMS shall make the milestone
payments  set forth below to Exelixis within [ * ] after the achievement of each
of  the  following  events,  subject  to  Section  7.3(g):

               (I)  [  *  ]  upon  first administration of such BMS Product in a
Phase  I  Clinical  Trial;

               (II)  [  *  ]  upon first administration of such BMS Product in a
Phase  II  Clinical  Trial;

               (III)  [  *  ] upon first administration of such BMS Product in a
Phase  III  Clinical  Trial;

               (IV)  [  *  ] upon first acceptance of an NDA filing for such BMS
Product  in  a  Major  Market;  and

               (V)  [ * ] upon first receipt of Regulatory Approval for such BMS
Product  in  a  Major  Market.  Each milestone payment set forth in this Section
7.3(f) will be paid only once with respect to a given BMS Product, regardless of
the  number  of  indications  sought  or  approved  for  such  BMS  Product.

          (G) ADJUSTMENTS TO PRODUCT MILESTONES. If the NDA filing described in
Section 7.3(f)(iv) and/or the Regulatory Approval described in Section 7.3(f)(v)
for  a particular BMS Product is for [ * ] then the amounts set forth in Section
7.3(f)(iv)  and  Section  7.3(f)(v)  shall  be  [  *  ].

          (H)  MILESTONE  PAYMENTS  FOR  SECONDARY  PRODUCTS. Subject to Section
5.2(b)(iii),  for  each  Secondary Product that is in development by BMS (or its
Affiliate  or  sublicensee),  BMS  shall only be obliged to make to Exelixis any
applicable  milestone payments set forth in Section 7.3(f) that were not made to
Exelixis with respect to the Parent Product of such Secondary Product.  However,
if  the  Parent  Product  (as  defined  herein),  with  respect  to a particular
Secondary  Product,  achieves  Regulatory Approval, and BMS (or its Affiliate or
sublicensee)  continues  thereafter  to  conduct  development  of such Secondary
Product,  then  such  Secondary  Product  shall  thereafter  be  deemed a Second
Generation  Product,  for  which milestone payments shall be owed as provided in
Section  7.3(i).  For  purposes of this subsection 7.3(h), a "Secondary Product"
means,  with  respect  to  a  BMS  Product containing a particular Collaboration
Compound  (the  "Parent  Product"), any other BMS Product containing a different
Collaboration  Compound  or  Back-up Compound, respectively, that is intended to
modulate  the  same Selected Target as the Collaboration Compound in such Parent
Product,  and  that  is  developed  by  or on behalf of BMS or its Affiliates or
sublicensee as a potential replacement for the Parent Product if the development
of  the  Parent  Product  does  not result in Regulatory Approval for the Parent
Product.  For  clarity, it is understood that the term "Secondary Product" shall
not  include  new  formulations,  presentations,  excipients, salts, or modes of
delivery  of  the  Collaboration  Compound  contained  in  the  Parent  Product.

          (I)  SECOND  GENERATION  PRODUCTS.  For each Second Generation Product
that  is  developed  by  BMS (or its Affiliate or sublicensee), BMS shall not be
obliged  to  make any milestone payments to Exelixis under Section 7.3(f) unless
and until the first Regulatory Approval of such Second Generation Product in any
Major  Market.  Upon  any  such  Regulatory  Approval  of  the Second Generation
Product, BMS shall, subject to Section 7.3(g) hereof, pay to Exelixis the sum of
all  milestone  payments owed under Section 7.3(f) for milestone events achieved
by  such  Second  Generation  Product, within [ * ] of such Regulatory Approval,
that, in the absence of this Section 7.3(i), BMS would have been obliged to make
to  Exelixis  prior  to  or  upon  such first Regulatory Approval of such Second
Generation  Product  (and  without interest on the deferred milestone payments);
provided, however, that if the Original BMS Product is no longer being marketed,
due  to safety problems, at the time the Second Generation Product receives such
Regulatory  Approval  in any such Major Market, then such milestones need not be
paid. For purposes of this Section 7.3, a "Second Generation Product means, with
respect  to  a  particular  BMS  Product  that  has achieved Regulatory Approval
in  a  Major  Market  (the "Original BMS Product"), any BMS Product containing a
Collaboration  Compound  that  (i)  is  not  the  Collaboration  Compound in the
Original  BMS  Product,  and  (ii) modulates the same BMS Selected Target as the
Collaboration  Compound  in  such  Original  BMS  Product.  For  clarity,  it is
understood  that "Second Generation Product" shall not include new formulations,
presentations,  excipients, salts, or modes of delivery of the active ingredient
contained  in  the  Original  BMS  Product.

          (J)  BYPASSED  MILESTONE  PAYMENTS.  Subject  to Section 7.3(h), if an
event  which  triggers  a  milestone payment set forth in Section 7.3(f) occurs,
with  respect  to a particular Product, at a time prior to payment, with respect
to  such Product, of any of the previous milestone payments set forth in Section
7.3(f),  then  BMS  shall  pay  Exelixis  within  [  *  ] of such event both the
milestone  payment  triggered  by  such  event and all unpaid previous milestone
payments.

          (K)  HYBRID BMS SELECTED TARGETS. For Hybrid BMS Selected Targets, the
milestone  payments  under subsections (b)-(j) of this Section 7.3 shall only be
paid  with  respect  to  those  compounds  that modulate the Hybrid BMS Selected
Target where the clinical trial, regulatory filing or regulatory approval is for
an  indication  in oncology or a defined field for which BMS took a license from
Exelixis  pursuant  to  Section  5.2(b).

     7.4     ROYALTY PAYMENTS.  BMS shall pay Exelixis royalties on Net Sales of
BMS  Products  at  the royalty rates stated below.  All royalty payments made by
BMS  to  Exelixis  hereunder shall be noncreditable and nonrefundable, except in
the event that an audit confirms that BMS had overpaid royalties to Exelixis, in
which  case  such  overpayment  will be credited against future royalties due to
Exelixis,  or  refunded  to  BMS  after  the  end  of  the  royalty  term.

          (A) BMS SOLE PRODUCTS. BMS shall pay royalties to Exelixis at the rate
of  [  *  ]  of  Net  Sales  of  each  BMS  Sole  Product.

          (B)  BMS  COLLABORATION  PRODUCTS.

               (I)  For  each  BMS  Collaboration  Product  that  contains  a
Collaboration  Compound  with  activity  against a BMS Selected Target for which
Exelixis  developed  an  Assay  pursuant to Section 3.5(a) but did not deliver a
Lead Compound pursuant to Section 3.5(b), BMS shall pay royalties to Exelixis at
the  rate  of  [  *  ]  of  Net  Sales  of  such  BMS  Collaboration  Product.

               (II)  For  each  BMS  Collaboration  Product  for  which Exelixis
delivered,  pursuant to Section 3.5(b), a Lead Compound or Back-up Compound that
(A)  is the Collaboration Compound contained in such product, (B) is an Analogue
of  the  Collaboration Compound contained in such product or (C) was used in the
discovery  or development of such Collaboration Compound, BMS will pay royalties
to Exelixis at the rate of [ * ] of Net Sales of such BMS Collaboration Product.

          (C)  PHARMACOGENOMIC  PRODUCTS. BMS shall pay royalties to Exelixis at
the  rate  of  [  *  ]  of  Net  Sales  of  each  Pharmacogenomic  Product.

     7.5     ROYALTY  ADJUSTMENTS.

          (A)  Subject  to  Section 7.5(e), BMS may deduct from the royalties it
would otherwise owe pursuant to Section 7.4 for a particular BMS Product, [ * ].
BMS  shall  limit its deductions of Third Party royalty payments with respect to
Patents  that  claim  the  use  of  a  BMS Selected Target in oncology [ * ], to
payments made on account of sales reasonably attributable to use in such fields.

          (B)  Subject  to Section 7.5(e), BMS may deduct, from the royalties it
would  otherwise  owe  pursuant  to  Section  7.4(b)(ii)  for  a  particular BMS
Collaboration Product containing a Lead Compound or Back-up Compound provided by
Exelixis  pursuant  to  Section 3.5(b), [ * ]. BMS shall limit its deductions of
Third  Party  royalty  payments  with respect to Patents that claim the use of a
Lead Compound or Back-up Compound in oncology [ * ], to payments made on account
of  sales  reasonably  attributable  to  use  in  such  fields.

          (C)  Subject  to Section 7.5(e), BMS may reduce the applicable royalty
rate  set  forth  in  Section  7.4  by  [  *  ].

          (D)  Subject  to Section 7.5(e), BMS may reduce the applicable royalty
rate  set  forth  in  Section  7.4  by  [  *  ].

          (E)  Regardless  of  the  number  of  royalty  deductions  or  royalty
rate reductions set forth in this Section 7.5 that may apply to a particular BMS
Product,  the  minimum royalty rate paid by BMS pursuant to this Agreement shall
be  [  *  ].

          (F)  For  each  BMS  Product  with  activity  against  a  Hybrid  BMS
Selected  Target,  the royalty payments under Section 7.4 (and any deductions or
adjustments  thereto  permitted under this Section 7.5) shall be based solely on
Net  Sales of such product in oncology [ * ]. Prior to the first commercial sale
of  a particular BMS Product with activity against a Hybrid BMS Selected Target,
the  Parties  shall agree in writing upon the methodology to be used to allocate
the  Net  Sales of such product between (i) the Net Sales attributable to use in
oncology  [  *  ]  and  (ii)  the Net Sales attributable to use in the principle
indication(s) specified in the DP1 Approval for such Hybrid BMS Selected Target.

     7.6     QUARTERLY  PAYMENTS.  All  royalties due under Section 7.4 shall be
paid  quarterly,  on  a country-by-country basis, within [ * ] of the end of the
relevant  quarter  for  which  royalties  are  due.

     7.7  TERM  OF ROYALTIES. Exelixis' right to receive royalties under Section
7.4  shall expire on a country-by-country basis upon the later of (i) [ * ] from
the  first  commercial  sale  of  such  BMS  Product  in  such  country, or (ii)
expiration  of  the  last to expire patent or patent application in such country
Controlled by Exelixis or BMS claiming the BMS Product or Collaboration Compound
contained  therein  or  the  manufacture,  use  or  sale  of such BMS Product or
Collaboration  Compound.

     7.8 ROYALTY PAYMENT REPORTS. Each royalty payment shall be accompanied by a
statement  stating the number, description, and aggregate Net Sales, by country,
of  each  Product  sold  during  the  relevant  calendar  quarter.

     7.9 PAYMENT METHOD. All payments due under this Agreement to Exelixis shall
be  made  by  bank  wire  transfer  in immediately available funds to an account
designated  by  Exelixis.  All payments hereunder shall be made in U.S. dollars.

     7.10  TAXES.  Exelixis shall pay any and all taxes levied on account of all
payments  it receives under this Agreement.  If laws or regulations require that
taxes  be withheld, BMS will (i) deduct those taxes from the remittable payment,
(ii)  pay  the  taxes to the proper taxing authority, and (iii) send evidence of
the  obligation  together  with  proof  of  tax payment to Exelixis within [ * ]
following  that  tax  payment.

     7.11  BLOCKED CURRENCY. In each country where the local currency is blocked
and  cannot be removed from the country, royalties accrued in that country shall
be  paid to Exelixis in the country in local currency by deposit in a local bank
designated  by  Exelixis,  unless  the  Parties  otherwise  agree.

     7.12 SUBLICENSES. In the event BMS grants licenses or sublicenses to others
to sell Products which are subject to royalties under Section 7.4, such licenses
or  sublicenses  shall  include an obligation for the licensee or sublicensee to
account  for and report its sales of Products on the same basis as if such sales
were Net Sales by BMS, and BMS shall pay, or shall ensure that sublicensee shall
pay,  to Exelixis, with respect to such sales, royalties as if such sales of the
licensee  or  sublicensee  were  Net  Sales  of  BMS.

     7.13  FOREIGN EXCHANGE. Conversion of sales recorded in local currencies to
U.S. dollars will be performed in a manner consistent with BMS' normal practices
used  to  prepare  its  audited  financial  statements for internal and external
reporting  purposes,  which  uses a widely accepted source of published exchange
rates.

     7.14  RECORDS; INSPECTION. BMS shall keep complete, true and accurate books
of  account  and  records for the purpose of determining the payments to be made
under  this  Agreement.  Such books and records shall be kept for at least [ * ]
following  the  end of the calendar quarter to which they pertain.  Such records
will  open  for  inspection during such [ * ] period by independent accountants,
solely  for  the  purpose  of  verifying  payment  statements  hereunder.  Such
inspections  shall  be  made no more than once each calendar year, at reasonable
time  and  on  reasonable notice.  Inspections conducted under this Section 7.14
shall  be  at  the expense of Exelixis, unless a variation or error producing an
increase  exceeding [ * ] of the royalty amount stated for any period covered by
the  inspection  is  established in the course of such inspection, whereupon all
costs  relating  to  the inspection for such period and any unpaid amounts (plus
interest)  that  are  discovered  will  be  paid  promptly  by  BMS.

     7.15  INTEREST. If BMS fails to make any payment due to Exelixis under this
Agreement,  then interest shall accrue on a daily basis at the greater of a rate
equal  to  [  *  ]

8.     INTELLECTUAL  PROPERTY

     8.1     OWNERSHIP.

          (A)  Inventorship  of all Target Inventions, Sole Inventions and Joint
Inventions  will  be  determined  under  the  patent  laws of the United States.

          (B)  Exelixis shall own the entire right, title and interest in and to
any and all Target Inventions and Patents and other intellectual property rights
claiming  or  covering  or  appurtenant to such Target Inventions. BMS shall and
hereby  transfers  and assigns to Exelixis any and all right, title and interest
to  all  Target  Inventions  and  Patents and other intellectual property rights
claiming  or  covering  or  appurtenant to such Target Inventions. Once a Patent
issues  covering a Target Invention, the Parties patent counsel will discuss
[ * ].

          (C)  Each  Party shall own the entire right, title and interest in and
to  any  and  all  of  its  Sole  Inventions,  and  Patents  covering  such Sole
Inventions.  BMS  and  Exelixis shall each own an undivided one-half interest in
and  to any and all Joint Inventions and Patents and other intellectual property
rights  claiming  or  covering  or appurtenant to such Joint Inventions. BMS and
Exelixis  as  joint  owner  each  shall  have  the right to exploit and to grant
licenses under such Joint Inventions (without an accounting or obligation to, or
consent  required  from,  the  other  Party), unless otherwise specified in this
Agreement.

     8.2     DISCLOSURE.  Each  Party  shall  submit a written report to the JMT
within  [  *  ] of the end of each quarter describing any Target Invention, Sole
Invention  or  Joint Invention arising during the prior quarter in the course of
the  Collaboration  which  it  believes may be patentable.  The JMT shall decide
whether  to  file  a  patent  application for a Joint Invention, as discussed in
Section  8.3(a).

     8.3     PATENT  PROSECUTION  AND  MAINTENANCE;  ABANDONMENT.

          (A)  The  JMT  shall  establish  the  patent  strategy  for  all Joint
Inventions  arising  from the Collaboration, taking into consideration Exelixis'
good  faith obligations to BMS and Third Parties relating to patent strategy for
Targets  and  Model  System Targets.  [ * ] shall direct the filing, prosecution
(including  any  interferences,  reissue  proceedings  and  reexaminations)  and
maintenance  of all Patents covering Target Inventions ("Target Patents").  Each
Party shall direct the filing, prosecution (including any interferences, reissue
proceedings and reexaminations) and maintenance of all Patents covering its Sole
Inventions.  The  JMT  shall  supervise,  and  shall  assign,  on  a  Joint
Invention-by-Joint Invention basis, one Party to be responsible for, the filing,
prosecution  (including  any  interferences,  reissue  proceedings  and
reexaminations)  and  maintenance  of  all Patents covering such Joint Invention
consistent with such strategy.  The JMT shall provide each Party with (i) drafts
of any new patent application that covers a Joint Invention prior to filing that
application,  allowing  adequate  time  for  review  and comment by the Party if
possible;  provided, however, the JMT shall not be obligated to delay the filing
of  any  patent  application; and (ii) copies of all correspondence from any and
all  patent offices concerning patent applications covering Joint Inventions and
an  opportunity  to  comment on any proposed responses, voluntary amendments and
submissions  of  any  kind  to  be made to any and all such patent offices.  The
Party that, pursuant to this Section 8.3(a), has the right to direct the filing,
prosecution  and  maintenance  of  a  Patent covering a Sole Invention or Target
Invention  shall  also  have the right to select the in-house or outside counsel
(who  shall  be  reasonably  acceptable to the other Party) who will perform the
aforementioned  filing,  prosecution  and maintenance-associated activities. The
Parties shall mutually agree on the in-house or outside counsel who will perform
the  filing,  prosecution  and  maintenance  of  Joint  Inventions.

          (B)  BMS  shall  bear  [  *  ] associated with the filing, prosecution
(including  any  interferences,  reissue  proceedings  and  reexaminations)  and
maintenance  of  Patents  covering  (1)  its  Sole  Inventions (other than those
exclusively  licensed to Exelixis under Section 5.3(b)), (2) the Sole Inventions
of  Exelixis  that  are  exclusively  licensed  to  BMS  under  any  of Sections
5.1(a)(ii)-(iv),  (3)  the Joint Inventions that are exclusively licensed to BMS
under  any  of  Sections 5.1(a)(ii)-(iv), and (4) the Target Inventions that are
exclusively  or  co-exclusively  licensed  to  BMS  under  any  of  Sections
5.1(a)(ii)-(iv)  or  5.1(b);  provided  that:

               (I)  if  Exelixis  or  a  Third  Party  licensee  of  Exelixis is
practicing  (A)  a particular Exelixis Sole Invention or Joint Invention outside
the  scope  of any of the licenses set forth in any of Sections 5.1(a)(ii)-(iv),
(B) a particular BMS Sole Invention inside the scope of the license set forth in
Section 5.3(c), (C) a particular Exelixis Sole Invention inside the scope of the
licenses  set  forth  in  Sections  5.1(a)(ii)  or  5.1(a)(iv)  (where expressly
permitted  by  this Agreement), or (D) a particular Target Invention outside the
scope  of  any  of  the licenses set forth in any of Sections 5.1(a)(ii)-(iv) or
5.1(b)  or  within  the  scope  of  a  co-exclusive license retained by it under
Section  5.1(b)(ii),  and  such  Invention  is covered by a Patent for which BMS
would  otherwise  bear  [  * ], then, subject to (b)(ii) below, Exelixis and BMS
shall  [  *  ];  and

               (II) if any Target Invention, Sole Invention of Exelixis or Joint
Invention  covered  by  (b) above is part of a patent application or patent that
covers  other  inventions  that  are  not  subject to (b) above and that are not
licensed  to  BMS  under  any  of  Sections  5.1(a)(ii)-(iv) or 5.1(b), then the
Parties  shall  [  *  ].

          (C)  Exelixis  and  BMS  shall  [  *  ].

          (D)  Exelixis shall bear [ * ] associated with the filing, prosecution
(including  any  interferences,  reissue  proceedings  and  reexaminations)  and
maintenance  of  Patents  covering  (1)  its  Sole  Inventions (other than those
exclusively licensed to BMS under any of Sections 5.1(a)(ii)-(iv)), (2) the Sole
Inventions of BMS exclusively licensed to Exelixis under Section 5.3(b), (3) the
Joint  Inventions exclusively licensed to Exelixis under Section 5.3(b), and (4)
the  Target  Inventions (other than those exclusively or co-exclusively licensed
to  BMS  under  any  of  Sections  5.1(a)(ii)-(iv)  or  5.1(b));  provided that:

               (I)  if  BMS  or  a  Third  Party licensee of BMS is practicing a
particular  BMS  Sole  Invention  or  Joint  Invention  outside the scope of the
licenses  set  forth in Section 5.3, then Exelixis and such Invention is covered
by  a  Patent  for  which  Exelixis would otherwise bear [ * ], then, subject to
(d)(ii)  below,  the  Parties  shall  [  *  ];  and

               (II)  if  any  Target  Invention,  Sole Invention of BMS or Joint
Invention  covered  by  (d) above is part of a patent application or patent that
covers  other  inventions  that  are  not  subject to (d) above and that are not
licensed  to  Exelixis  under  Section  5.3(b),  then  the  Parties shall [ * ].

     (E)       (1)     If a Party elects not to [ * ], such Party shall inform
the other Party in writing not less than [ * ] before any relevant deadline (or,
in the event of a shorter period in which to respond to a patent office, as soon
as  reasonably  practicable),  and,  if  the other Party assumes [ * ], then the
assuming  Party  will  [  *  ].

               (II)  If a Party is the assignee or owner of a Patent (other than
a  Joint  Patent)  that  is  licensed  to  the other Party under any of Sections
5.1(a)(ii)-(iv),  5.1(b),  5.3(b) or 5.3(c), and such owning Party does not wish
to  [  *  ],  such owning Party shall inform the other Party in writing not less
than [ * ] before any relevant deadline (or, in the event of a shorter period in
which  to respond to a patent office, as soon as reasonably practicable). If the
other  Party  assumes  [  *  ],  then  the  assuming  Party  will  [  *  ].

               (III)  If a Party is the licensee of a Patent (other than a Joint
Patent)  under  any  of  Sections 5.1(a)(ii)-(iv), 5.1(b), 5.3(b) or 5.3(c), and
such  Party  does  not wish to [ * ], such Party shall inform the other Party in
writing  not less than [ * ] before any relevant deadline (or, in the event of a
shorter  period  in  which  to respond to a patent office, as soon as reasonably
practicable),  and  shall  [  *  ].

          (F)  Each  Party  shall  provide  to the other Party, on a semi-annual
basis, a patent report that includes the serial number, docket number and status
of  each  Patent for which, pursuant to Section 8.3(a), such Party has the right
to  direct  the  filing,  prosecution  and  maintenance  and which covers a Sole
Invention,  Joint  Invention  or Target Invention.  At the same time, each Party
shall provide to the other a reasonably detailed estimate of [ * ].  The Parties
through  their  patent  counsel  will  discuss  [  *  ].

     8.4     ENFORCEMENT  OF  PATENT  RIGHTS.

          (A)  ENFORCEMENT  OF  BMS  SOLE  PATENTS.

               (I)  ENFORCEMENT  BY EXELIXIS. In the event that in-house counsel
for  either  Party  becomes  aware  of  a  suspected  infringement of any Patent
claiming  a  Sole Invention of BMS [ * ] such Party shall notify the other Party
promptly,  and following such notification, the Parties shall confer. Each Party
shall  provide  the  same level of disclosure to its in-house counsel concerning
suspected  infringement  of  a  BMS Sole Patent as such Party would provide with
respect  to  suspected  infringement  of its own issued Patent or an exclusively
licensed  issued  Patent  claiming a product it is developing or commercializing
independent  of  this  Agreement.  Subject  to  the  rights  of  any Third Party
licensees  of  such  Patent,  Exelixis  shall  have  the right, but shall not be
obligated,  to bring an infringement action or to defend such proceedings at its
own  expense,  in its own name and entirely under its own direction and control.
BMS  will  reasonably assist Exelixis [ * ] in such actions or proceedings if so
requested, and will lend its name to such actions or proceedings if requested by
Exelixis or required by law, and [ * ].  BMS shall have the right to participate
and  be  represented in any such suit by its own counsel at its own expense.  No
settlement of any such action or defense which restricts the scope, or adversely
affects the enforceability, of a BMS Sole Patent may be entered into by Exelixis
without  the  prior  consent  of  BMS,  which  consent shall not be unreasonably
withheld.

               (II)  ENFORCEMENT  BY  BMS.  If  Exelixis elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(a)(i)  and  so  notifies  BMS, then BMS may bring such action or defend such
proceeding  at  its  own  expense,  in  its  own name and entirely under its own
direction  and  control. Exelixis will reasonably assist BMS [ * ] in any action
or  proceeding  being  prosecuted  or defended by BMS, if so requested by BMS or
required  by law, and [ * ]. Exelixis shall have the right to participate and be
represented  in  any  such  suit  by  its  own  counsel  at  its own expense. No
settlement of any such action or defense which restricts the scope, or adversely
affects  the  enforceability, of any such BMS Sole Patent may be entered into by
BMS  without  the  prior  consent  of  Exelixis,  which  consent  shall  not  be
unreasonably  withheld.

          (B)  ENFORCEMENT  OF  EXELIXIS  SOLE  PATENTS.

               (I)  ENFORCEMENT  BY  BMS. In the event that in-house counsel for
either  Party  becomes aware of a suspected infringement, by a Third of a Patent
claiming  a  Sole  Invention of Exelixis [ * ] such Party shall notify the other
Party  promptly, and following such notification, the Parties shall confer. Each
Party  shall  provide  the  same  level  of  disclosure  to its in-house counsel
concerning  suspected infringement of a Exelixis Sole Patent as such Party would
provide  with  respect  to suspected infringement of its own issued Patent or an
exclusively  licensed  issued  Patent  claiming  a  product  it is developing or
commercializing independent of this Agreement. Where such suspected infringement
involves  such  Third  Party's  development, manufacture, use or sale of a small
molecule  oncology  product against such BMS Selected Target, BMS shall have the
right,  but  shall not be obligated, to bring an infringement action against any
such  Third  Party  or to defend such proceedings at its own expense, in its own
name and entirely under its own direction and control; provided, that this right
shall  not apply to utility patents in a defined field to which BMS exercised an
option  under Section 5.2(b).  Exelixis will reasonably assist BMS [ * ] in such
actions  or  proceedings if so requested, and will lend its name to such actions
or  proceedings  if  requested  by  BMS or required by law, and [ * ].  Exelixis
shall  have  the right to participate and be represented in any such suit by its
own  counsel  at  its  own expense.  No settlement of any such action or defense
which  restricts the scope, or adversely affects the enforceability, of any such
Exelixis  Sole  Patent  may  be entered into by BMS without the prior consent of
Exelixis,  which  consent  shall  not  be  unreasonably  withheld.

               (II)  ENFORCEMENT  BY  EXELIXIS.  If  BMS elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(b)(i)  and  so  notifies  Exelixis,  or if such suspected infringement of an
Exelixis Sole Patent does not involve a Third Party developing, using, making or
selling a small molecule oncology product against such BMS Selected Target then,
Exelixis  may bring such action or defend such proceeding at its own expense, in
its  own  name  and  entirely  under  its  own  direction  and control. BMS will
reasonably assist Exelixis [ * ] in any action or proceeding being prosecuted or
defended by Exelixis, if so requested by Exelixis or required by law, and [ * ].
BMS  shall  have the right to participate and be represented in any such suit by
its  own counsel at its own expense. No settlement of any such action or defense
which restricts the scope, or adversely affects the enforceability, with respect
to  small  molecules, of an Exelixis Sole Patent may be entered into by Exelixis
without  the  prior  consent  of  BMS,  which  consent shall not be unreasonably
withheld.

          (C)  ENFORCEMENT  OF  TARGET  PATENTS.

               (I)  BMS  TARGET  PATENTS

                    (1)  ENFORCEMENT  BY BMS. In the event that in-house counsel
of either Party becomes aware of a suspected infringement of a Patent claiming a
Target  Invention  [ * ] such Party shall notify the other Party promptly, and
following  such notification, the Parties shall confer. Each Party shall provide
the  same  level  of  disclosure  to  its  in-house counsel concerning suspected
infringement  of a BMS Target Patent as such Party would provide with respect to
suspected  infringement  of  its  own  issued  Patent or an exclusively licensed
issued Patent claiming a product it is developing or commercializing independent
of this Agreement. Where such suspected infringement involves such Third Party's
development,  manufacture,  use  or  sale  of  a small molecule oncology product
against  such  BMS  Selected  Target, BMS shall have the right, but shall not be
obligated, to bring an infringement action against such Third Party or to defend
such  proceedings at its own expense, in its own name and entirely under its own
direction  and  control.  Exelixis  will  reasonably  assist  BMS  [ * ] in such
actions  or  proceedings if so requested, and will lend its name to such actions
or  proceedings  if  requested  by  BMS or required by law, and [ * ].  Exelixis
shall  have  the right to participate and be represented in any such suit by its
own  counsel  at  its  own expense.  No settlement of any such action or defense
which  restricts  the  scope,  or adversely affects the enforceability, of a BMS
Target  Patent may be entered into by BMS without the prior consent of Exelixis,
which  consent  shall  not  be  unreasonably  withheld.

                    (2)  ENFORCEMENT BY EXELIXIS. If BMS elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(c)(i)(1)  and  so  notifies Exelixis, or if such suspected infringement of a
BMS  Target  Patent  does not involve a Third Party developing, using, making or
selling a small molecule oncology product against such BMS Selected Target, then
Exelixis  may bring such action or defend such proceeding at its own expense, in
its  own  name  and  entirely  under  its  own  direction  and control. BMS will
reasonably assist Exelixis [ * ] in any action or proceeding being prosecuted or
defended  by  Exelixis,  if  so  requested  by  Exelixis or required by law, and
Exelixis  will [ * ]. BMS shall have the right to participate and be represented
in  any  such  suit  by its own counsel at its own expense. No settlement of any
such  action  or  defense  which  restricts  the scope, or adversely affects the
enforceability,  with  respect to small molecules, of a BMS Target Patent may be
entered  into  by Exelixis without the prior consent of BMS, which consent shall
not  be  unreasonably withheld. This Section 8.4(c)(i)(2) shall not apply to any
BMS  Target  Patent  that  does not have any claim that pertains to the areas in
which  Exelixis  has  rights  pursuant  to  Section  5.3.

               (II)  EXEL  TARGET  PATENTS

                    (1)  ENFORCEMENT  BY  EXELIXIS.  In  the event that in-house
counsel  of  either  Party becomes aware of a suspected infringement of a Patent
claiming  a  Target  Invention  [  *  ]  such Party shall notify the other Party
promptly,  and following such notification, the Parties shall confer. Each Party
shall  provide  the  same level of disclosure to its in-house counsel concerning
suspected  infringement  of  a EXEL Sole Patent as such Party would provide with
respect  to  suspected  infringement  of its own issued Patent or an exclusively
licensed  issued  Patent  claiming a product it is developing or commercializing
independent  of  this Agreement. Exelixis shall have the right, but shall not be
obligated,  to bring an infringement action or to defend such proceedings at its
own  expense,  in its own name and entirely under its own direction and control.
BMS  will  reasonably assist Exelixis [ * ] in such actions or proceedings if so
requested, and will lend its name to such actions or proceedings if requested by
Exelixis  or required by law, and Exelixis will [ * ].  BMS shall have the right
to participate and be represented in any such suit by its own counsel at its own
expense.  No settlement of any such action or defense which restricts the scope,
or adversely affects the enforceability, of an EXEL Target Patent may be entered
into  by  Exelixis  without the prior consent of BMS, which consent shall not be
unreasonably  withheld.

                    (2)  ENFORCEMENT BY BMS. If Exelixis elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(c)(ii)(1)  and  so  notifies  BMS,  then, subject to the rights of any Third
Party  licensors of such Patent to Exelixis, BMS may bring such action or defend
such  proceeding  at its own expense, in its own name and entirely under its own
direction  and  control. Exelixis will reasonably assist BMS [ * ] in any action
or  proceeding  being  prosecuted  or defended by BMS, if so requested by BMS or
required  by  law,  and  BMS  will  [  *  ].  Exelixis  shall  have the right to
participate  and  be  represented in any such suit by its own counsel at its own
expense.  No settlement of any such action or defense which restricts the scope,
or adversely affects the enforceability of, an EXEL Target Patent may be entered
into  by  BMS  without the prior consent of Exelixis, which consent shall not be
unreasonably  withheld.  This  Section 8.4(c)(ii)(2) shall not apply to any EXEL
Target  Patent  that does not have any claim that pertains to the areas in which
BMS  has  rights  pursuant  to  Section  5.1.

               (III)  OTHER  TARGET  PATENTS.

                    (1)  ENFORCEMENT  BY  EXELIXIS.  In  the event that in-house
counsel  of  either  Party becomes aware of a suspected infringement of a Patent
that  claims a Target Invention but is not a BMS Target Patent or an EXEL Target
Patent  (for  purposes of this Section 8.4 only, an "Other Target Patent"), such
Party  shall  notify  the other Party promptly, and following such notification,
the  Parties shall confer. Each Party shall provide the same level of disclosure
to  its  in-house  counsel  concerning suspected infringement of an Other Target
Patent as such Party would provide with respect to suspected infringement of its
own issued Patent or an exclusively licensed issued Patent claiming a product it
is  developing  or commercializing independent of this Agreement. Exelixis shall
have  the  right, but shall not be obligated, to bring an infringement action or
to  defend  such  proceedings  at  its own expense, in its own name and entirely
under  its  own direction and control. BMS will reasonably assist Exelixis [ * ]
in  such  actions or proceedings if so requested, and will lend its name to such
actions or proceedings if requested by Exelixis or required by law, and Exelixis
will  [  *  ]. BMS shall have the right to participate and be represented in any
such  suit  by  its  own  counsel  at  its  own  expense.

                    (2)  ENFORCEMENT BY BMS. If Exelixis elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(c)(iii)(1)  and  so  notifies  BMS, then BMS may bring such action or defend
such  proceeding  at its own expense, in its own name and entirely under its own
direction  and  control. Exelixis will reasonably assist BMS [ * ] in any action
or  proceeding  being  prosecuted  or defended by BMS, if so requested by BMS or
required  by  law,  and  BMS  will  [  *  ].  Exelixis  shall  have the right to
participate  and  be  represented in any such suit by its own counsel at its own
expense.  No  settlement of any such action or defense which restricts the scope
or adversely affects the enforceability of an Other Target Patent may be entered
into  by  BMS  without the prior consent of Exelixis, which consent shall not be
unreasonably  withheld.

          (D)  ENFORCEMENT  OF  JOINT  PATENTS.

               (I)  BMS  JOINT  PATENTS.

                    (1)  ENFORCEMENT  BY  BMS.  In  the event that management or
in-house counsel for either Party becomes aware of a suspected infringement of a
Patent  claiming a Joint Invention [ * ] such Party shall notify the other Party
promptly,  and following such notification, the Parties shall confer. Each Party
shall  provide  the  same level of disclosure to its in-house counsel concerning
suspected  infringement  of  a BMS Joint Patent as such Party would provide with
respect  to  suspected  infringement  of its own issued Patent or an exclusively
licensed  issued  Patent  claiming a product it is developing or commercializing
independent  of  this  Agreement.  BMS  shall  have  the right, but shall not be
obligated,  to bring an infringement action or to defend such proceedings at its
own  expense,  in its own name and entirely under its own direction and control.
Exelixis  will  reasonably assist BMS [ * ] in such actions or proceedings if so
requested, and will lend its name to such actions or proceedings if requested by
BMS  or  required  by law, and BMS will [ * ].  Exelixis shall have the right to
participate  and  be  represented in any such suit by its own counsel at its own
expense.  No  settlement of any such action or defense which restricts the scope
or  affects  the enforceability of a BMS Joint Patent may be entered into by BMS
without  the  prior consent of Exelixis, which consent shall not be unreasonably
withheld.

                    (2)  ENFORCEMENT BY EXELIXIS. If BMS elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(d)(i)(1)  and  so  notifies Exelixis, then Exelixis may bring such action or
defend  such  proceeding  at its own expense, in its own name and entirely under
its  own direction and control. BMS will reasonably assist Exelixis [ * ] in any
action  or  proceeding being prosecuted or defended by Exelixis, if so requested
by  Exelixis  or  required  by  law, and Exelixis will [ * ]. BMS shall have the
right  to  participate and be represented in any such suit by its own counsel at
its own expense. No settlement of any such action or defense which restricts the
scope or affects the enforceability of a BMS Joint Patent may be entered into by
Exelixis  without  the  prior  consent  of  BMS,  which  consent  shall  not  be
unreasonably  withheld.

               (II)  EXEL  JOINT  PATENTS.

                    (1) ENFORCEMENT BY EXELIXIS. In the event that management or
in-house counsel for either Party becomes aware of a suspected infringement of a
Patent  claiming a Joint Invention [ * ] such Party shall notify the other Party
promptly,  and following such notification, the Parties shall confer. Each Party
shall  provide  the  same level of disclosure to its in-house counsel concerning
suspected  infringement of an EXEL Joint Patent as such Party would provide with
respect  to  suspected  infringement  of its own issued Patent or an exclusively
licensed  issued  Patent  claiming a product it is developing or commercializing
independent  of  this Agreement. Exelixis shall have the right, but shall not be
obligated,  to bring an infringement action or to defend such proceedings at its
own  expense,  in its own name and entirely under its own direction and control.
BMS  will  reasonably assist Exelixis [ * ] in such actions or proceedings if so
requested, and will lend its name to such actions or proceedings if requested by
Exelixis  or  required by law, and Exelixis will [ * ]. BMS shall have the right
to participate and be represented in any such suit by its own counsel at its own
expense.  No  settlement of any such action or defense which restricts the scope
or  affects  the  enforceability  of an EXEL Joint Patent may be entered into by
Exelixis  without  the  prior  consent  of  BMS,  which  consent  shall  not  be
unreasonably  withheld.

                    (2)  ENFORCEMENT BY BMS. If Exelixis elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(d)(ii)(1)  and  so  notifies  BMS,  then, subject to the rights of any Third
Party  licensors of such Patent to Exelixis, BMS may bring such action or defend
such  proceeding  at its own expense, in its own name and entirely under its own
direction  and  control. Exelixis will reasonably assist BMS [ * ] in any action
or  proceeding  being  prosecuted  or defended by BMS, if so requested by BMS or
required  by  law,  and  BMS  will  [  *  ].  Exelixis  shall  have the right to
participate  and  be  represented in any such suit by its own counsel at its own
expense.  No  settlement of any such action or defense which restricts the scope
or affects the enforceability of an EXEL Joint Patent may be entered into by BMS
without  the  prior consent of Exelixis, which consent shall not be unreasonably
withheld.

               (III)  OTHER  JOINT  PATENTS.

                    (1)  ENFORCEMENT  BY BMS. In the event that in-house counsel
for  either  Party  becomes  aware  of a suspected infringement of a Patent that
claims  a  Joint Invention but is not a BMS Joint Patent or an EXEL Joint Patent
(for  purposes  of  this  Section 8.4 only, an "Other Joint Patent"), such Party
shall  notify  the  other  Party  promptly, and following such notification, the
Parties  shall  confer. Each Party shall provide the same level of disclosure to
its  in-house counsel concerning suspected infringement of an Other Joint Patent
as  such  Party  would provide with respect to suspected infringement of its own
issued  Patent or an exclusively licensed issued Patent claiming a product it is
developing  or commercializing independent of this Agreement. BMS shall have the
right,  but  shall  not  be obligated, to prosecute an infringement action or to
defend  such  proceedings at its own expense, in its own name and entirely under
its own direction and control. Exelixis will reasonably assist BMS [ * ] in such
actions  or  proceedings if so requested, and will lend its name to such actions
or  proceedings  if  requested  by  BMS  or required by law, and BMS will [ * ].
Exelixis shall have the right to participate and be represented in any such suit
by  its  own  counsel  at  its  own expense. No settlement of any such action or
defense  which  restricts  the  scope  or affects the enforceability of an Other
Joint  Patent  may be entered into by BMS without the prior consent of Exelixis,
which  consent  shall  not  be  unreasonably  withheld.

                    (2)  ENFORCEMENT BY EXELIXIS. If BMS elects not to bring any
action  for  infringement  or  to  defend  any  proceeding  described in Section
8.4(d)(iii)(1)  and so notifies Exelixis, then Exelixis may bring such action or
defend  such  proceeding  at its own expense, in its own name and entirely under
its  own direction and control. BMS will reasonably assist Exelixis [ * ] in any
action  or  proceeding being prosecuted or defended by Exelixis, if so requested
by  Exelixis  or  required  by  law, and Exelixis will [ * ]. BMS shall have the
right  to  participate and be represented in any such suit by its own counsel at
its own expense. No settlement of any such action or defense which restricts the
scope or affects the enforceability of an Other Joint Patent may be entered into
by  Exelixis  without  the  prior  consent  of  BMS,  which consent shall not be
unreasonably  withheld.

          (E)  GENERAL  PROVISIONS  RELATING  TO  ENFORCEMENT  OF  PATENTS.

               (I)  WITHDRAWAL. If either Party brings such an action or defends
such  a  proceeding  under this Section 8.4 and subsequently ceases to pursue or
withdraws  from  such  action  or proceeding, it shall promptly notify the other
Party  and the other Party may substitute itself for the withdrawing Party under
the  terms  of  this  Section  8.4  at  its  own  expense.

               (II)  RECOVERIES.  In the event either Party exercises the rights
conferred  in  this  Section  8.4 and recovers any damages or other sums in such
action,  suit or proceeding or in settlement thereof, such damages or other sums
recovered  shall  first  be  applied  to  all  out-of-pocket  costs and expenses
incurred  by  the  Parties in connection therewith, including attorneys fees. If
such  recovery  is  insufficient  to  cover  all such costs and expenses of both
Parties,  it  shall be shared [ * ]. If after such reimbursement any funds shall
remain from such damages or other sums recovered, and such funds shall be [ * ].

     8.5     DEFENSE  OF  THIRD  PARTY  CLAIMS.

               (A)  If  a  claim  is  brought by a Third Party that any activity
related  to  work  performed  by  a  Party under the Collaboration infringes the
intellectual  property  rights  of such Third Party, each Party will give prompt
written notice to the other Party of such claim. If the Third Party claim arises
from  Exelixis'  activities  under the Collaboration, Exelixis shall control and
bear  the expense of its own defense and, except as set forth in Section 8.5(b),
Exelixis  shall [ * ]. Exelixis shall not enter into a settlement agreement with
such  Third  Party  without  the  written  consent  of  BMS,  which shall not be
unreasonably  withheld.  If  the  Third  Party claim arises from BMS' activities
under  the  Collaboration,  BMS  shall  control  and bear the expense of its own
defense  and,  except as set forth in Section 8.5(b), BMS shall [ * ]. BMS shall
not  enter into a settlement agreement with such Third Party without the written
consent  of  Exelixis,  which  shall  not  be  unreasonably  withheld.

               (B) The [ * ] of Exelixis under Section 8.5(a) shall not apply to
alleged  infringement of Third Party technology rights by Exelixis in the course
of  performing  work under this Agreement where (i) prior to the conduct of such
work  Exelixis  submitted  to  the  JMT a written description of the Third Party
technology  in question and the work that Exelixis proposed to conduct, (ii) the
JMT  approved Exelixis' conduct of such work, and (iii) the alleged infringement
arose  by  reason  of such work. The [ * ] of BMS under Section 8.5(a) shall not
apply  to  alleged  infringement  of Third Party technology rights by BMS in the
course of performing work under this Agreement where (i) prior to the conduct of
such  work  BMS  submitted  to  the JMT a written description of the Third Party
technology  in  question and the work that BMS proposed to conduct, (ii) the JMT
approved  BMS' conduct of such work, and (iii) the alleged infringement arose by
reason  of such work. In either such case, each Party shall [ * ]. In any event,
neither  Party  shall be required to conduct any work under this Agreement which
it  believes  may  infringe  Third  Party  rights.

     8.6     COPYRIGHT REGISTRATIONS.  Copyrights and copyright registrations on
copyrightable  subject  matter  shall  be  filed,  prosecuted,  defended,  and
maintained,  and  the  Parties  shall have the right to pursue infringers of any
copyrights  owned  or  Controlled by it, in substantially the same manner as the
Parties  have  allocated  such  responsibilities, and the expenses therefor, for
patent  rights  under  this  Article  8.

9.     CONFIDENTIALITY

     9.1     NONDISCLOSURE  OF  CONFIDENTIAL  INFORMATION.  All  Information
disclosed  by  one  Party to the other Party pursuant to this Agreement shall be
"Confidential  Information"  for all purposes hereunder.  The Parties agree that
for  a period of [ * ] after the end of the Research Term or [ * ] after receipt
of such Confidential Information (whichever period is longer), a Party receiving
Confidential Information of the other Party will (i) use commercially reasonable
efforts  to  maintain  in confidence such Confidential Information (but not less
than  those  efforts  as  such  Party  uses  to  maintain  in confidence its own
proprietary  industrial  information  of  similar  kind  and  value)  and not to
disclose  such Confidential Information to any Third Party without prior written
consent  of  the  other  Party, except for disclosures made in confidence to any
Third  Party  under terms consistent with this Agreement and made in furtherance
of  this  Agreement  or of rights granted to a Party hereunder, and (ii) not use
such  other  Party's  Confidential  Information  for  any  purpose  except those
permitted by this Agreement (it being understood that this subsection (ii) shall
not create or imply any rights or licenses not expressly granted under Article 5
hereof).

     9.2 EXCEPTIONS. The obligations in Section 9.1 shall not apply with respect
to any portion of the Confidential Information that the receiving Party can show
by  competent  written  proof:

          (A)  Is  publicly  disclosed by the disclosing Party, either before or
after  it  is  disclosed  to  the  receiving  Party  hereunder;  or

          (B) Was known to the receiving Party or any of its Affiliates, without
obligation to keep it confidential, prior to disclosure by the disclosing Party;
or

          (C)  Is  subsequently  disclosed  to the receiving Party or any of its
Affiliates  by  a  Third  Party  lawfully  in  possession  thereof  and  without
obligation  to  keep  it  confidential;  or

          (D)  Is  published  by  a  Third  Party  or otherwise becomes publicly
available or enters the public domain, either before or after it is disclosed to
the  receiving  Party;  or

          (E)  Has  been  independently developed by employees or contractors of
the receiving Party or any of its Affiliates without the aid, application or use
of  Confidential  Information.

     9.3     AUTHORIZED  DISCLOSURE.  A  Party  may  disclose  the  Confidential
Information  belonging  to  the  other  Party  to  the extent such disclosure is
reasonably  necessary  in  the  following  instances:

          (A)  Filing or prosecuting Patents relating to Target Inventions, Sole
Inventions,  Joint  Inventions  or  Products;

          (B)  Regulatory  filings;

          (C)  Prosecuting  or  defending  litigation;

          (D)  Complying  with  applicable  governmental  regulations;  and

          (E)  Disclosure, in connection with the performance of this Agreement,
to  Affiliates,  potential  collaborators,  partners,  and  licensees (including
potential  co-marketing  and  copromotion  contractors), research collaborators,
potential  investment  bankers,  investors,  lenders,  and investors, employees,
consultants,  or  agents,  each  of  whom  prior  to disclosure must be bound by
similar  obligations of confidentiality and non-use at least equivalent in scope
to  those set forth in this Article 9. The Parties acknowledge that the terms of
this  Agreement  shall  be  treated as Confidential Information of both Parties.
Such  terms  may  be  disclosed by a Party to individuals or entities covered by
9.3(e)  above,  each  of  whom  prior  to  disclosure  must  be bound by similar
obligations of confidentiality and non-use at least equivalent in scope to those
set  forth in this Article 9. In addition, a copy of this Agreement may be filed
by  either  Party with the Securities and Exchange Commission in connection with
any  public  offering  of  such  Party's securities. In connection with any such
filing,  such  Party shall endeavor to obtain confidential treatment of economic
and  trade  secret  information.  In  any  event,  the Parties agree to take all
reasonable  action  to  avoid  disclosure  of Confidential Information except as
permitted  hereunder.

     9.4     TERMINATION  OF  PRIOR  AGREEMENTS.  This  Agreement supersedes the
Mutual Confidential Disclosure Agreement between Exelixis and BMS dated December
5,  2000 and the amendments thereto dated January 11, 2001 and February 7, 2001.
All Information exchanged between the Parties under such earlier Agreement shall
be  deemed  Confidential  Information  and shall be subject to the terms of this
Article  9.

     9.5  PUBLICITY.  The  Parties  agree  that  the  public announcement of the
execution  of  this  Agreement  shall  be substantially in the form of the press
release  attached  as Exhibit 9.5.  Any other publication, news release or other
public  announcement relating to this Agreement or to the performance hereunder,
shall  first  be  reviewed and approved by both Parties; provided, however, that
any  disclosure  which  is  required by law as advised by the disclosing Party's
counsel  may  be made without the prior consent of the other Party, although the
other Party shall be given prompt notice of any such legally required disclosure
and  to  the  extent practicable shall provide the other Party an opportunity to
comment  on  the  proposed  disclosure.

     9.6  PUBLICATIONS.  Neither  Party  shall publish or present the results of
studies  carried  out  under  this  Agreement  without the opportunity for prior
review by the other Party.  Subject to Section 9.3, each Party agrees to provide
the other Party the opportunity to review any proposed abstracts, manuscripts or
presentations  (including  verbal  presentations)  which  relate to any Selected
Target  at  least  [  *  ]  prior to its intended submission for publication and
agrees,  upon  request,  not  to  submit  any  such  abstract  or manuscript for
publication until the other Party is given a reasonable period of time to secure
patent  protection  for any material in such publication which it believes to be
patentable.  Both  Parties  understand that a reasonable commercial strategy may
require  delay  of  publication of information or filing of patent applications.
The  Parties  agree  to  review  and consider delay of publication and filing of
patent  applications  under  certain  circumstances.  The  JMT  will review such
requests and recommend subsequent action.  Neither Party shall have the right to
publish  or present Confidential Information of the other Party which is subject
to  Section  9.1.  Nothing  contained  in  this  Section  9.6 shall prohibit the
inclusion  of  Confidential  Information  of the nonfiling Party necessary for a
patent  application,  provided  the  nonfiling  Party  is  given  a  reasonable
opportunity  to review the extent and necessity for its Confidential Information
to  be  included  prior  to submission of such patent application.  Any disputes
between  the  Parties regarding delaying a publication or presentation to permit
the  filing  of  a  patent  application  shall  be  referred  to  the  JMT.

10.     TERM  AND  TERMINATION

     10.1     TERM.  This Agreement shall become effective on the Effective Date
and  shall  remain in effect until terminated in accordance with Section 10.2 or
by mutual written agreement, or until the expiration of the last royalty payment
obligation with respect to any Product, as provided in Section 7.4.  Termination
of  the  Research  Term  shall  not  constitute  termination  of this Agreement;
termination  of this Agreement shall result in termination of the Research Term.

     10.2     TERMINATION  FOR  MATERIAL  BREACH.

          (A)  If  either Party believes that the other is in material breach of
this  Agreement  (including  without  limitation  any  material  breach  of  a
representation or warranty made in this Agreement), then the non-breaching Party
may  deliver  notice  of  such  breach  to  the other Party.  In such notice the
non-breaching  Party shall identify the actions or conduct that such Party would
consider to be an acceptable cure of such breach.  For all breaches other than a
failure  to make a payment set forth in Article 7, the allegedly breaching Party
shall  have  [  *  ] to either cure such breach or, if cure cannot be reasonably
effected  within  such  [  *  ] period, to deliver to the other Party a plan for
curing  such breach which is reasonably sufficient to effect a cure. Such a plan
shall  set  forth  a  program  for  achieving  cure  as  rapidly as practicable.
Following  delivery of such plan, the breaching Party shall use Diligent Efforts
to  carry  out  the  plan  and  cure  the breach.  For any breach arising from a
failure  to make a payment set forth in Article 7, the allegedly breaching Party
shall  have  [  *  ]  to  cure  such  breach.

          (B)  If the Party receiving notice of breach fails to cure such breach
within  the  [ * ] (as applicable), or the Party providing the notice reasonably
determines that the proposed corrective plan or the actions being taken to carry
it  out  is  not  commercially  practicable, the Party originally delivering the
notice may terminate this Agreement upon [ * ] advance written notice, provided,
that  if  the  breach  applies only to a given Selected Target, a given Product,
Pharmacogenomic  Product,  a  given  Lead  Compound/Back-Up  Compound, or to the
license  rights  granted  to  a  Party  under any of subsections 5.1(a)(iv)-(v),
5.1(a)(vii)-(viii),  5.3(d),  or  5.3(g),  the  non-breaching  Party  may  only
terminate  the  breaching  Party's  rights with respect to such Selected Target,
Product, Pharmacogenomic Product, Lead Compound/Back-Up Compound, or the license
rights granted to a Party under such subsection.  Notwithstanding the foregoing,
a  Party  may  terminate  this  Agreement  upon the third or any subsequent such
termination of the other Party's rights with respect to a given Selected Target,
a  given  Product,  Pharmacogenomic  Product,  a  given  Lead  Compound/Back-Up
Compound,  or  the  license  rights  granted  to  the  other  Party under any of
subsections  5.1(a)(iv)-(v),  5.1(a)(vii)-(viii),  5.3(d),  or  5.3(g).

          (C) If a Party gives notice of termination under this Section 10.2 and
the  other  Party  disputes  whether  such  notice was proper, then the issue of
whether  this Agreement has been terminated shall be resolved in accordance with
Section 13.1. If as a result of such dispute resolution process it is determined
that the notice of termination was proper, then such termination shall be deemed
to  have  been  effective  if  the breaching Party fails thereafter to cure such
breach in accordance with the determination made in the resolution process under
Section  13.1  within  the  time  period  set  forth  in Section 10.2(a) for the
applicable  breach  following such determination. If as a result of such dispute
resolution process it is determined that the notice of termination was improper,
then  no  termination shall have occurred and this Agreement shall have remained
in  effect.

     10.3     EFFECT  OF  TERMINATION;  SURVIVAL.

          (A) In the event of termination of this Agreement for any reason other
than  material  breach  pursuant  to  Section  10.2  or by mutual agreement, the
following  provisions  of this Agreement shall survive: Articles 1, 4, 9, 12 and
13,  and  Sections  2.16, 2.18, 3.8, 3.10, 5.1, 5.2(a), 5.3, 5.4, 6.2(a) (except
for the last sentence of 6.2(a)(ii)), 6.2(b), 6.3(a), 7.14, 7.15, 8.1, 8.3, 8.4,
8.5,  10.3,  and  11.3.

          (B)  In the event of termination of this Agreement pursuant to Section
10.2,  the  provisions  of  this  Agreement  referenced in Section 10.3(a) shall
survive  (except  that  Sections  8.3 and 8.4 shall survive only with respect to
Joint  Inventions);  provided,  however,  that  any  licenses granted under this
Agreement  in  favor  of the breaching Party shall terminate, other than (A) the
license  rights granted to BMS under Section 5.1(b) (which shall survive even if
Exelixis is the terminating Party, unless such termination is due to BMS' breach
of  such  license),  (B)  the  license  rights  granted  to  BMS  under  Section
5.1(a)(viii)  (which  shall  survive  even if Exelixis is the terminating Party,
unless  such  termination  is  due  to BMS' breach of such license), and (C) the
license rights granted to Exelixis under Section 5.3(d)(ii) (which shall survive
even  if  BMS  is  the  terminating  Party,  unless  such  termination is due to
Exelixis'  breach  of such license). In such case, the non-breaching Party shall
continue  to  hold  the licenses granted hereunder, subject to the milestone and
royalties  set  forth  herein  (which  relevant  provisions  shall  survive
termination).  If  BMS  terminates  this  Agreement  pursuant to Section 10.2 on
account  of  Exelixis'  breach,  then  Section  5.2(b)(v)  shall  survive  such
termination,  subject  to  the  milestone  and  royalties  set  forth  herein.

          (C)  In any event, termination of this Agreement shall not relieve the
Parties  of any liability which accrued hereunder prior to the effective date of
such termination nor preclude either Party from pursuing all rights and remedies
it  may have hereunder or at law or in equity with respect to any breach of this
Agreement  nor  prejudice  either  Party's  right  to  obtain performance of any
obligation.

11.     REPRESENTATIONS  AND  COVENANTS

     11.1     MUTUAL  AUTHORITY.  Exelixis  and BMS each represents and warrants
to  the other that: (i) it has the authority and right to enter into and perform
this Agreement, (ii) this Agreement is a legal and valid obligation binding upon
it  and  is  enforceable  in  accordance  with  its terms, subject to applicable
limitations  on  such  enforcement  based  on bankruptcy laws and other debtors'
rights, and (iii) its execution, delivery and performance of this Agreement will
not  conflict  in  any material fashion with the terms of any other agreement or
instrument to which it is or becomes a party or by which it is or becomes bound,
nor  violate  any  law  or  regulation  of  any  court,  governmental  body  or
administrative  or  other  agency  having  authority  over  it.

     11.2  RIGHTS  IN TECHNOLOGY. During [ * ], each Party will use commercially
reasonable  efforts  to maintain (but without an obligation to renew) and not to
breach  any  agreements  with  Third Parties that provide a grant of rights from
such  Third  Party to a Party that are Controlled by such Party and are licensed
or  become subject to a license from such Party to the other Party under Article
5  or  6.  Each  Party agrees to provide promptly the other Party with notice of
any  such alleged breach.  As of the Effective Date, each Party is in compliance
in  all material respects with any aforementioned agreements with Third Parties.

     11.3 PERFORMANCE BY AFFILIATES. The Parties recognize that each may perform
some  or  all  of  its  obligations  under  this  Agreement  through Affiliates,
provided,  however, that each Party shall remain responsible and be guarantor of
the  performance by its Affiliates and shall cause its Affiliates to comply with
the  provisions  of  this  Agreement  in  connection  with such performance.  In
particular,  if  any  Affiliate  of  a Party participates in research under this
Agreement  or  with  respect to Collaboration Compounds, (i) the restrictions of
this Agreement which apply to the activities of a Party with respect to Selected
Targets  and  Collaboration  Compounds  shall apply equally to the activities of
such  Affiliate, and (ii) the Party affiliated with such Affiliate shall assure,
and  hereby  guarantees,  that  any  intellectual  property  developed  by  such
Affiliate  shall be governed by the provisions of this Agreement (and subject to
the  licenses  set forth in Article 5) as if such intellectual property had been
developed  by  the  Party.

     11.4     THIRD  PARTY  RIGHTS.

          (A) Except as already disclosed, each Party represents and warrants to
the other Party that, to its knowledge as of the Effective Date, its performance
of  work  under  the  Collaboration  as contemplated by this Agreement shall not
infringe  the  patent, trade secret or other intellectual property rights of any
Third Party.  Each Party represents and warrants to the other Party that, to its
knowledge  as  of  the  Effective  Date,  it  will  not violate a contractual or
fiduciary  obligation  owed  to  such  Third Party (including without limitation
misappropriation  of  trade secrets) to perform its work under the Collaboration
as  contemplated  by  this  Agreement.

          (B)  Except  as already disclosed, Exelixis represents and warrants to
BMS  that,  to its knowledge as of the Effective Date, the research conducted by
it  to  identify the Targets listed in Exhibit 1.28 did not infringe the patent,
trade  secret or other intellectual property rights of any Third Party. Exelixis
represents  and warrants to BMS that, to its knowledge as of the Effective Date,
it  did  not  violate  a  contractual or fiduciary obligation owed to such Third
Party  (including  without  limitation  misappropriation  of  trade  secrets) in
conducting  its  research  to  identify  the  Targets  listed  in  Exhibit 1.28.

     11.5     NOTICE  OF INFRINGEMENT OR MISAPPROPRIATION.  [ * ] represents and
warrants  to    [  * ] that, as of the Effective Date, it has received no notice
of  infringement or misappropriation of any alleged rights asserted by any third
party  in  relation  to  any  technology  to  be  used  in  connection  with the
Collaboration.

12.     INDEMNIFICATION  AND  LIMITATION  OF  LIABILITY

     12.1     MUTUAL  INDEMNIFICATION.  Subject  to  Section  12.4,  each  Party
hereby agrees to indemnify, defend and hold the other Party, its Affiliates, its
licensees,  and  its  and  their  officers,  directors,  employees, consultants,
contractors,  sublicensees and agents (collectively, the "Indemnitees") harmless
from  and  against any and all damages or other amounts payable to a Third Party
claimant,  as  well  as  any  reasonable attorneys' fees and costs of litigation
incurred  by  such  Indemnitee  as to any such Claim (as defined in this Section
12.1)  until  the  indemnifying  Party  has  acknowledged  that  it will provide
indemnification  hereunder  with  respect  to  such  Claim  as  provided  below,
(collectively, "Damages") resulting from claims, suits, proceedings or causes of
action  ("Claims") brought by such Third Party against such Indemnitee based on:
(a)  a breach of warranty by the indemnifying Party contained in this Agreement;
(b)  breach  of this Agreement or applicable law by such indemnifying Party; (c)
negligence  or  willful misconduct of a Party, its Affiliates or (sub)licensees,
or  their respective employees, contractors or agents in the performance of this
Agreement; and/or (d) breach of a contractual or fiduciary obligation owed by it
to  a  Third  Party  (including  without  limitation  misappropriation  of trade
secrets).

     12.2  INDEMNIFICATION BY BMS. Subject to Section 12.4, BMS hereby agrees to
indemnify,  defend  and  hold  harmless  Exelixis  and its directors, agents and
employees  from  and  against  any  and  all  suits,  claims,  actions, demands,
liabilities,  expenses  and/or  loss,  including  reasonable  legal expenses and
reasonable  attorneys' fees ("Losses") resulting directly or indirectly from the
manufacture,  use,  handling, storage, sale or other disposition of BMS Selected
Targets,  Collaboration  Compounds  or  BMS  Products  by BMS or its Affiliates,
agents or sublicensees except to the extent such Losses result from (a) a breach
of  warranty  by  Exelixis  contained  in  this  Agreement;  (b)  breach of this
Agreement or applicable law by Exelixis; (c) negligence or willful misconduct by
Exelixis,  its  Affiliates  or  (sub)licensees,  or  their respective employees,
contractors or agents in the performance of this Agreement; and/or (d) breach of
a  contractual  or  fiduciary  obligation  owed  by  Exelixis  to  a Third Party
(including  without  limitation  misappropriation  of  trade  secrets).

     12.3  INDEMNIFICATION BY EXELIXIS. Subject to Section 12.4, Exelixis hereby
agrees  to indemnify, defend and hold harmless BMS and its directors, agents and
employees  from  and  against  any  and  all  suits,  claims,  actions, demands,
liabilities,  expenses  and/or  loss,  including  reasonable  legal expenses and
reasonable  attorneys' fees ("Losses") resulting directly or indirectly from the
manufacture,  use, handling, storage, sale or other disposition of EXEL Selected
Targets, Collaboration Compounds or EXEL Products by Exelixis or its Affiliates,
agents  or  sublicensees  except  to  the  extent such Losses result from: (a) a
breach  of  warranty  by  BMS  contained  in  this Agreement; (b) breach of this
Agreement or applicable law by BMS; (c) negligence or willful misconduct by BMS,
its  Affiliates or (sub)licensees, or their respective employees, contractors or
agents  in the performance of this Agreement; and/or (d) breach of a contractual
or  fiduciary  obligation  owed  by  BMS  to  a  Third  Party (including without
limitation  misappropriation  of  trade  secrets).

     12.4 CONDITIONS TO INDEMNIFICATION. As used herein, "Indemnitee" shall mean
a  party  entitled  to  indemnification under the terms of Section 12.1, 12.2 or
12.3.  It  shall  be  a  condition  precedent  to  an Indemnitee's right to seek
indemnification  under  such  Section  12.1,  12.2  or  12.3:

               (I)  shall  inform  the  indemnifying Party under such applicable
Section of a Claim as soon as reasonably practicable after it receives notice of
the  Claim;
               (II)  shall,  if  the  indemnifying  Party acknowledges that such
Claim  falls  within  the  scope  of  its indemnification obligations hereunder,
permit  the  indemnifying  Party to assume direction and control of the defense,
litigation,  settlement, appeal or other disposition of the Claim (including the
right to settle the claim solely for monetary consideration); provided, that the
indemnifying  Party shall seek the prior written consent (not to be unreasonably
withheld  or  delayed)  of  any such Indemnitee as to any settlement which would
materially  diminish  or  materially  adversely affect the scope, exclusivity or
duration of any Patents licensed under this Agreement, would require any payment
by such Indemnitee, would require an admission of legal wrongdoing in any way on
the  part  of an Indemnitee, or would effect an amendment of this Agreement; and

               (III)  shall  fully  cooperate (including providing access to and
copies  of  pertinent  records  and  making  available  for  testimony  relevant
individuals  subject  to  its  control)  as  reasonably requested by, and at the
expense of, the indemnifying Party in the defense of the Claim. Provided that an
Indemnitee has complied with the foregoing, the indemnifying Party shall provide
attorneys  reasonably  acceptable  to  the Indemnitee to defend against any such
Claim.  Subject  to  the  foregoing,  an  Indemnitee  may  participate  in  any
proceedings  involving  such  Claim using attorneys of its/his/her choice and at
its/his/her  expense.  In  no  event  may an Indemnitee settle or compromise any
Claim for which it /he/she intends to seek indemnification from the indemnifying
Party  hereunder without the prior written consent of the indemnifying Party, or
the  indemnification  provided  under such Section 12.1, 12.2 or 12.3 as to such
Claim  shall  be  null  and  void.

     12.5     LIMITATION  OF  LIABILITY.  EXCEPT  FOR  AMOUNTS  PAYABLE TO THIRD
PARTIES  BY  A  PARTY  FOR  WHICH  IT  SEEKS  REIMBURSEMENT  OR  INDEMNIFICATION
PROTECTION  FROM  THE  OTHER  PARTY  PURSUANT TO SECTIONS 8.5(a), 12.1, 12.2 AND
12.3,  AND  EXCEPT  FOR  BREACH  OF SECTION 9.1 HEREOF, IN NO EVENT SHALL EITHER
PARTY, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR AFFILIATES BE LIABLE TO THE
OTHER  PARTY  FOR  ANY  INDIRECT,  INCIDENTAL,  SPECIAL,  PUNITIVE, EXEMPLARY OR
CONSEQUENTIAL  DAMAGES,  WHETHER  BASED  UPON  A  CLAIM  OR  ACTION OF CONTRACT,
WARRANTY,  NEGLIGENCE, STRICT LIABILITY OR OTHER TORT, OR OTHERWISE, ARISING OUT
OF THIS AGREEMENT, UNLESS SUCH DAMAGES ARE DUE TO THE GROSS NEGLIGENCE OR WILFUL
MISCONDUCT OF THE LIABLE PARTY.  For clarification, the foregoing sentence shall
not be interpreted to limit or to expand the express rights specifically granted
in  the  sections  of  this  Agreement.

     12.6  COLLABORATION DISCLAIMER. EXCEPT AS PROVIDED IN ARTICLE 11 ABOVE, BMS
EXPRESSLY  DISCLAIMS  ANY  AND  ALL  OTHER  WARRANTIES  OF  ANY KIND, EXPRESS OR
IMPLIED, INCLUDING WITHOUT LIMITATION THE WARRANTIES OF DESIGN, MERCHANTABILITY,
FITNESS  FOR  A  PARTICULAR  PURPOSE,  AND  NONINFRINGEMENT  OF THE INTELLECTUAL
PROPERTY  RIGHTS OF THIRD PARTIES WITH RESPECT TO ANY RESEARCH RESULTS, TARGETS,
DATA, OR INVENTIONS (AND ANY PATENT RIGHTS OBTAINED THEREON) IDENTIFIED, MADE OR
GENERATED  BY  BMS  AS  PART OF THE COLLABORATION OR OTHERWISE MADE AVAILABLE TO
EXELIXIS PURSUANT TO THE TERMS OF THIS AGREEMENT.  EXCEPT AS PROVIDED IN ARTICLE
11 ABOVE, EXELIXIS EXPRESSLY DISCLAIMS ANY AND ALL OTHER WARRANTIES OF ANY KIND,
EXPRESS  OR  IMPLIED,  INCLUDING  WITHOUT  LIMITATION  THE WARRANTIES OF DESIGN,
MERCHANTABILITY,  FITNESS  FOR  A PARTICULAR PURPOSE, AND NONINFRINGEMENT OF THE
INTELLECTUAL  PROPERTY  RIGHTS  OF  THIRD  PARTIES  WITH RESPECT TO ANY RESEARCH
RESULTS,  TARGETS,  DATA, OR INVENTIONS (AND ANY PATENT RIGHTS OBTAINED THEREON)
IDENTIFIED,  MADE  OR  GENERATED  BY  EXELIXIS  AS  PART OF THE COLLABORATION OR
OTHERWISE  MADE  AVAILABLE  TO  BMS  PURSUANT  TO  THE  TERMS OF THIS AGREEMENT.

13.     MISCELLANEOUS

     13.1     DISPUTE  RESOLUTION.  In  the  event  of  any controversy or claim
arising  out  of,  relating  to  or  in  connection  with  any provision of this
Agreement, other than a dispute addressed in Section 13.3, the Parties shall try
to  settle their differences amicably between themselves first, by referring the
disputed  matter to the Chief Scientific Officer of Exelixis and the Senior Vice
President,  Drug  Discovery  and  Exploratory  Development  of BMS (or if either
foregoing  position  does not exist at such time, the closest successor in title
to  such  position)  and,  if not resolved by such individuals, by referring the
disputed  matter  to  the  President  of  Exelixis  and the President of the BMS
Pharmaceutical  Group  or  their  designees.  Either  Party  may  initiate  such
informal  dispute  resolution  by  sending  written notice of the dispute to the
other  Party, and, within 20 days after such notice, such representatives of the
scientific management of the Parties shall meet for attempted resolution by good
faith  negotiations.  If such representatives are unable to resolve such dispute
within  thirty (30) days of their first meeting for such negotiations, then said
Officers  shall meet within twenty (20) days thereafter for attempted resolution
by  good faith negotiations.  If the Officers are unable to resolve such dispute
within  thirty  (30)  days  of their first meeting for such negotiations, either
Party  may  seek  to  have such dispute resolved in any United States federal or
state  court  of competent jurisdiction and appropriate venue, provided, that if
such  suit  includes  a  Third Party claimant or defendant, and jurisdiction and
venue  with respect to such Third Party appropriately resides outside the United
States, then in any other jurisdiction or venue permitted by applicable law.  To
the  extent  permitted  by  law,  the  Party that seeks such judicial resolution
hereby  consents  to  the  other  Party's  forum  of  choice.

     13.2 GOVERNING LAW. Resolution of all disputes arising out of or related to
this  Agreement  or  the performance, enforcement, breach or termination of this
Agreement  and any remedies relating thereto, shall be governed by and construed
under  the substantive laws of the State of California, as applied to agreements
executed  and  performed entirely in the State of California by residents of the
State of California, without regard to conflicts of law rules provided, however,
that  resolution  of  all disputes arising out of or related to the performance,
enforcement  or  breach  of  Section  2.18  of  this  Agreement and any remedies
relating  thereto  shall be governed by and construed under the substantive laws
of  the  State  of  New  York,  as  applied to agreements executed and performed
entirely in the State of New York by residents of the State of New York, without
regard  to  its  conflicts  of  law  rules.

     13.3  PATENTS AND TRADEMARKS. Any dispute, controversy or claim relating to
the  scope,  validity,  enforceability  or  infringement  of  any  Patent rights
covering  the manufacture, use or sale of any Product or of any trademark rights
related  to  any Product shall be submitted to a court of competent jurisdiction
in the territory in which such Patent or trademark rights were granted or arose.

     13.4  ENTIRE AGREEMENT; AMENDMENT. This Agreement and the MOA Agreement set
forth  the  complete,  final  and  exclusive  agreement  and  all the covenants,
promises, agreements, warranties, representations, conditions and understandings
between  the  Parties  hereto and supersedes and terminates all prior agreements
and understandings between the Parties, except for the MOA Agreement.  There are
no  covenants,  promises, agreements, warranties, representations, conditions or
understandings,  either  oral  or written, between the Parties other than as are
set  forth  herein  and therein.  No subsequent alteration, amendment, change or
addition  to  this Agreement shall be binding upon the Parties unless reduced to
writing  and  signed  by  an  authorized  officer  of  each  Party.

     13.5  EXPORT  CONTROL.  This  Agreement is made subject to any restrictions
concerning  the  export  of  products  or  technical information from the United
States  of  America  or  other countries which may be imposed upon or related to
Exelixis  or  BMS from time to time.  Each Party agrees that it will not export,
directly  or indirectly, any technical information acquired from the other Party
under  this  Agreement  or  any  products  using such technical information to a
location or in a manner that at the time of export requires an export license or
other  governmental  approval, without first obtaining the written consent to do
so  from  the  appropriate  agency  or  other  governmental  entity.

     13.6     BANKRUPTCY.

          (A)  All  rights  and  licenses  granted  under  or  pursuant  to this
Agreement,  including  amendments  hereto, by each Party to the other Party are,
for  all  purposes  of Section 365(n) of Title 11 of the U.S. Code ("Title 11"),
licenses  of rights to intellectual property as defined in Title 11.  Each Party
agrees  during  the term of this Agreement to create and maintain current copies
or,  if  not  amenable  to  copying,  detailed descriptions or other appropriate
embodiments,  to  the  extent feasible, of all such intellectual property.  If a
case  is commenced by or against either Party (the "Bankrupt Party") under Title
11,  then,  unless and until this Agreement is rejected as provided in Title 11,
the  Bankrupt  Party  (in  any capacity, including debtor-in-possession) and its
successors  and  assigns  (including,  without  limitation,  a Title 11 Trustee)
shall,  at  the  election  of  the  Bankrupt Party made within 60 days after the
commencement  of the case (or, if no such election is made, immediately upon the
request  of  the  non-Bankrupt  Party) either (i) perform all of the obligations
provided  in  this  Agreement  to  be performed by the Bankrupt Party including,
where  applicable  and  without  limitation, providing to the non-Bankrupt Party
portions  of  such intellectual property (including embodiments thereof) held by
the  Bankrupt  Party  and  such successors and assigns or otherwise available to
them  or  (ii)  provide to the non-Bankrupt Party all such intellectual property
(including  all  embodiments  thereof)  held  by  the  Bankrupt  Party  and such
successors  and  assigns  or  otherwise  available  to  them.

          (B)  If  a Title 11 case is commenced by or against the Bankrupt Party
and  this  Agreement  is  rejected  as provided in Title 11 and the non-Bankrupt
Party  elects  to  retain its rights hereunder as provided in Title 11, then the
Bankrupt  Party  (in  any  capacity,  including  debtor-in-possession)  and  its
successors  and  assigns  (including,  without  limitations, a Title 11 Trustee)
shall  provide  to  the  non-Bankrupt  Party  all  such  intellectual  property
(including  all  embodiments  thereof)  held  by  the  Bankrupt  Party  and such
successors  and  assigns  or  otherwise  available  to them immediately upon the
non-Bankrupt  Party's  written  request therefor. Whenever the Bankrupt Party or
any  of  its successors or assigns provides to the non-Bankrupt Party any of the
intellectual property licensed hereunder (or any embodiment thereof) pursuant to
this  Section  13.6,  the non-Bankrupt Party shall have the right to perform the
obligations  of  the  Bankrupt Party hereunder with respect to such intellectual
property,  but  neither  such provision nor such performance by the non-Bankrupt
Party shall release the Bankrupt Party from any such obligation or liability for
failing  to  perform  it.

          (C) All rights, powers and remedies of the non-Bankrupt Party provided
herein  are in addition to and not in substitution for any and all other rights,
powers  and  remedies  now or hereafter existing at law or in equity (including,
without  limitation,  Title  11)  in the event of the commencement of a Title 11
case  by  or against the Bankrupt Party.  The non-Bankrupt Party, in addition to
the  rights,  power and remedies expressly provided herein, shall be entitled to
exercise  all other such rights and powers and resort to all other such remedies
as  may  now  or  hereafter  exist  at  law  or  in  equity  (including, without
limitation,  under  Title 11) in such event.  The Parties agree that they intend
the  foregoing  non-Bankrupt  Party  rights  to  extend  to  the  maximum extent
permitted  by law and any provisions of applicable contracts with Third Parties,
including  without  limitation for purposes of Title 11, (i) the right of access
to any intellectual property (including all embodiments thereof) of the Bankrupt
Party  or  any  Third Party with whom the Bankrupt Party contracts to perform an
obligation  of  the Bankrupt Party under this Agreement, and, in the case of the
Third  Party,  which  is  necessary  for  the  development,  registration  and
manufacture  of  licensed  products and (ii) the right to contract directly with
any  Third  Party  described  in (i) in this sentence to complete the contracted
work.  Any  intellectual  property  provided  pursuant to the provisions of this
Section  13.6  shall  be  subject  to  the  licenses set forth elsewhere in this
Agreement  and  the payment obligations of this Agreement, which shall be deemed
to  be  royalties  for  purposes  of  Title  11.

     13.7     FORCE MAJEURE.  Both Parties shall be excused from the performance
of their obligations under this Agreement to the extent that such performance is
prevented  by force majeure and the nonperforming Party promptly provides notice
of the prevention to the other Party.  Such excuse shall be continued so long as
the  condition  constituting force majeure continues and the nonperforming Party
takes  reasonable  efforts  to  remove  the  condition.  For  purposes  of  this
Agreement,  force  majeure  shall  include  conditions beyond the control of the
Parties,  including  without limitation, an act of God, voluntary or involuntary
compliance  with  any  regulation,  law  or  order of any government, war, civil
commotion,  labor  strike  or  lock-out,  epidemic, failure or default of public
utilities  or common carriers, destruction of production facilities or materials
by  fire,  earthquake, storm or like catastrophe; provided, however, the payment
of invoices due and owing hereunder shall not be delayed by the payer because of
a  force  majeure  affecting  the  payer.

          13.8  NOTICES. Any notice required or permitted to be given under this
Agreement  shall  be  in writing, shall specifically refer to this Agreement and
shall  be  deemed  to have been sufficiently given for all purposes if mailed by
first  class  certified  or  registered  mail, postage prepaid, express delivery
service  or  personally  delivered.  Unless  otherwise specified in writing, the
mailing  addresses  of  the  Parties  shall  be  as  described  below.

          For  Exelixis:  Exelixis,  Inc.
                         170  Harbor  Way
                         P.O.  Box  511
                         South  San  Francisco,  CA  94083
                         Attention:  Chief  Executive  Officer

          With  a  copy  to:  Cooley  Godward  LLP
                         Five  Palo  Alto  Square
                         3000  El  Camino  Real
                         Palo  Alto,  CA  94306
                         Attention:  Robert  L.  Jones,  Esq.

          For  BMS:      Bristol-Myers Squibb Pharmaceutical Research Institute
                         Route  206  and  Province  Line  Road
                         Princeton,  NJ  08543-4000
                         Attention:  Senior  Vice  President  -  Drug  Discovery

          With a copy to: Bristol-Myers Squibb Pharmaceutical Research Institute
                         Route  206  and  Province  Line  Road
                         Princeton,  NJ  08543-4000
                         Attention:  Vice  President and Senior Counsel - BMSPRI

     13.9     CONSENTS NOT UNREASONABLY WITHHELD OR DELAYED.  Whenever provision
is  made in this Agreement for either Party to secure the consent or approval of
the  other,  that  consent  or  approval  shall  not unreasonably be withheld or
delayed,  and  whenever  in  this Agreement provisions are made for one Party to
object  to  or  disapprove  a  matter,  such  objection or disapproval shall not
unreasonably  be  exercised.

     13.10  MAINTENANCE  OF  RECORDS.  Each  Party  shall  keep and maintain all
records  required  by  law or regulation with respect to Products and shall make
copies  of  such  records  available  to  the  other  Party  upon  request.

     13.11  UNITED  STATES DOLLARS. References in this Agreement to "Dollars" or
"$"  shall  mean  the  legal  tender  of  the  United  States  of  America.

     13.12  NO STRICT CONSTRUCTION. This Agreement has been prepared jointly and
shall  not  be  strictly construed against either Party. Ambiguities, if any, in
this  Agreement  shall not be construed against any Party, irrespective of which
Party  may  be  deemed  to  have  authored  the  ambiguous  provision.

     13.13  ASSIGNMENT.  Neither  Party may assign or transfer this Agreement or
any  rights  or  obligations  hereunder without the prior written consent of the
other,  except  a  Party  may  make such an assignment without the other Party's
consent  to  an  Affiliate or to a Third Party successor to substantially all of
the business of such Party to which this Agreement relates, whether in a merger,
sale  of  stock,  sale  of  assets  or other transaction; provided that any such
permitted  successor  or  assignee  of  rights  and/or  obligations hereunder is
obligated, by reason of operation of law or pursuant to a written agreement with
the  other  Party, to assume performance of this Agreement or such rights and/or
obligations;  and  provided,  further,  that  if  assigned  to an Affiliate, the
assigning  Party  shall  remain  jointly  and  severally  responsible  for  the
performance of this Agreement by such Affiliate.  Any permitted assignment shall
be  binding  on  the  successors  of  the  assigning  Party.  Any  assignment or
attempted  assignment  by either Party in violation of the terms of this Section

     13.13  shall  be  null  and  void  and  of  no  legal  effect.

     13.14  ELECTRONIC  DATA  INTERCHANGE.  If  both Parties elect to facilitate
business  activities  hereunder  by electronically sending and receiving data in
agreed  formats  (also  referred  to as Electronic Data Interchange or "EDI") in
substitution for conventional paper-based documents, the terms and conditions of
this  Agreement  shall  apply  to  such  EDI  activities.

     13.15  COUNTERPARTS.  This  Agreement  may  be  executed  in  two  or  more
counterparts,  each  of  which  shall  be  deemed  an original, but all of which
together  shall  constitute  one  and  the  same  instrument.

     13.16  FURTHER  ACTIONS.  Each  Party  agrees  to  execute, acknowledge and
deliver  such  further  instruments,  and  to  do all such other acts, as may be
necessary  or  appropriate in order to carry out the purposes and intent of this
Agreement.

     13.17  SEVERABILITY. If any one or more of the provisions of this Agreement
is  held  to  be invalid or unenforceable by any court of competent jurisdiction
from  which  no  appeal  can  be  or is taken, the provision shall be considered
severed  from  this  Agreement  and  shall not serve to invalidate any remaining
provisions  hereof.  The  Parties  shall make a good faith effort to replace any
invalid  or  unenforceable  provision with a valid and enforceable one such that
the  objectives  contemplated by the Parties when entering this Agreement may be
realized.

     13.18 HEADINGS. The headings for each article and section in this Agreement
have  been  inserted  for  convenience of reference only and are not intended to
limit  or  expand  on  the  meaning  of the language contained in the particular
article  or  section.

     13.19  NO  WAIVER.  Any  delay  in  enforcing  a  Party's rights under this
Agreement  or  any  waiver  as to a particular default or other matter shall not
constitute  a  waiver  of  such  Party's rights to the future enforcement of its
rights  under this Agreement, excepting only as to an express written and signed
waiver  as  to  a  particular  matter  for  a  particular  period  of  time.

                     {Rest of Page Intentionally Left Blank}

<PAGE>

IN  WITNESS  WHEREOF,  the  Parties  have  executed  this Agreement in duplicate
originals  by their proper officers as of the date and year first above written.

BRISTOL-MYERS SQUIBB COMPANY                  EXELIXIS, INC.

By:  /s/ Elliott Sigal                        By: /s/ Geoffrey Duyk
----------------------------------------      ---------------------

Title: Sr. Vice President Drug Discovery      Title:  CSO
----------------------------------------      ---------------------
& Exploratory Development
----------------------------------------

Date: July 17, 2001                           Date: 7/20/01
----------------------------------------      ---------------------

     50.

     Exhibit  1.25-1.
[  *  ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION  PURSUANT  TO  RULE  24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED.
                                  EXHIBIT 1.25
                              GENETIC ENTRY POINTS
                                      [ * ]

<PAGE>

     2.

     Exhibit  5.1(a)(vii)-1.
                                  EXHIBIT 1.28
                                      [ * ]

<PAGE>

                               EXHIBIT 5.1(A)(VII)

                                     [ * ]
<PAGE>
                                 EXHIBIT 5.3(D)
                                      [ * ]

<PAGE>
                                   EXHIBIT 9.5

                                  PRESS RELEASE

Contacts:

Angela  Bitting                                Patricia  Doykos  Duquette
Director,  Corporate  Communications           Public  Affairs
Exelixis,  Inc.                                Bristol-Myers  Squibb
(650)  837-7579                                (609)  252-3390
abitting@exelixis.com                          patricia.duquette@bms.com

                        BRISTOL-MYERS SQUIBB AND EXELIXIS
                    ENTER PIONEERING CANCER-FIGHTING ALLIANCE

              DRUG DISCOVERY COLLABORATION TARGETS NEW FRONTIER OF
                             TUMOR SUPPRESSOR GENES

PRINCETON,  N.J. and SOUTH SAN FRANCISCO, Calif.- July XX, 2001 - Bristol- Myers
Squibb  Company  (NYSE: BMY) and Exelixis, Inc. (NASDAQ: EXEL) today announced a
broad collaboration and licensing agreement to create a new generation of cancer
drugs  that  selectively  target  tumor  suppressor  genes -- genes that prevent
tumors  from  developing.  Tumor  suppressor  genes  have  long  been  viewed as
promising  targets  in  fighting  cancer,  but it remains extremely difficult to
develop  drugs  that  work  against  them.

In  a  cooperative  effort  that  will  leverage  each  company's technology and
expertise  in  the  fields  of  genomics  and  target  validation, Exelixis will
identify and validate molecular targets that trigger cell death in cancer cells,
while  leaving  normal  cells  unharmed. Bristol- Myers Squibb will then further
validate  these  targets  in  human  models.

Each  company will have the option to obtain exclusive worldwide rights to equal
numbers  of validated targets arising from the collaboration.  These rights will
enable  them  to  pursue  the  development  of  novel,  small-molecule  drugs.
Bristol-Myers Squibb may also use Exelixis' expertise in assay development, high
throughput  screening,  medicinal chemistry and preclinical pharmacology for the
development of small-molecules directed against several of the selected targets.

"As  the worldwide leader in oncology drug development, we will continue to push
the R&D envelope to extend and enhance the lives of cancer patients," said Peter
S.  Ringrose,  Ph.D.,  chief  scientific  officer  and president, Pharmaceutical
Research  Institute,  Bristol-Myers  Squibb.  "This  creative  partnership  with
Exelixis  will  help  us  continue  to  be  on  the  cutting edge of cancer drug
development,  and  we  believe this is what it will take to realize a new era of
treatment."

"Tumor suppressor genes represent a new frontier for the treatment of cancer and
until recently, they have been intractable as drug targets for pharmaceuticals,"
said  Elliott  Sigal,  M.D.,  Ph.D.,  senior  vice president, Drug Discovery and
Exploratory  Development, Bristol-Myers Squibb.  "In this collaboration, we will
be  targeting  the  basic  mechanisms  that can lead to cancer.  This is a novel
approach  to  alleviating  the  true  bottleneck  of  drug  development  in  the
post-genomics  era."

As  part  of  the  collaboration,  Exelixis  will receive an exclusive worldwide
license  to  develop  and commercialize a selected analogue of the Bristol-Myers
Squibb  anticancer  compound, rebeccamycin.  The rebeccamycin analogue has shown
activity  against  cancers in ongoing Phase I and early Phase II clinical trials
being  conducted  by  the  National  Cancer  Institute  under  a Clinical Trials
Agreement.  Bristol-Myers  Squibb  has  agreed to provide access to its internal
clinical  development  prowess  to  support  Exelixis in the development of this
compound.  Each  party  has  certain rights of first negotiation with respect to
cancer compounds that result from the targets validated in the collaboration and
that the companies elect to license out.  In addition, Bristol-Myers Squibb will
make  an  equity  investment  in  Exelixis.

"Bristol-Myers  Squibb  has  been  an  excellent partner, and we look forward to
establishing  this  new  relationship  with  them," commented George A. Scangos,
Ph.D.,  president and chief executive officer of Exelixis.  "This collaboration,
which  we  believe  is  valued  $200  million, provides us not only with working
capital,  but  significant  upside in the form of milestones and royalties and a
clinical  stage  product  that  will enable us to build our clinical development
infrastructure."  Dr.  Scangos  added,  "When taken together with our recent PDL
collaboration,  we  believe  our  cancer  strategy  demonstrates  our ability to
significantly  leverage  our  core  research into multiple product opportunities
both  for  ourselves  and  our  partners."

Bristol-Myers  Squibb  is  an  $18 billion pharmaceutical and related heath care
products
company whose mission is to extend and enhance human life. For more information,
please  visit  the  company's  web  site  at  www.bms.com.

Exelixis,  Inc.  is  a  leading genomics-based drug discovery company focused on
product  development  through  its  expertise  in comparative genomics and model
system  genetics.  These  technologies  provide  a  rapid,  efficient  and  cost
effective  way to move from DNA sequence data to knowledge about the function of
genes  and  the  proteins  they  encode.  The  company's  technology  is broadly
applicable to all life sciences industries including pharmaceutical, diagnostic,
agricultural  biotechnology  and  animal health.  Exelixis has partnerships with
Aventis,  Bayer,  Bristol-Myers  Squibb,  Pharmacia, Protein Design Labs and Dow
AgroSciences  and  is  building  its internal development program in the area of
oncology.  For  more  information,  please  visit  the  company's  web  site  at
www.exelixis.com.

This  press  release  contains  certain  forward-looking  statements  regarding
Bristol-Myers  Squibb  within  the meaning of  the Private Securities Litigation
Reform  Act of 1995 that may be identified by terminology such as "anticipates,"
and  "expects"  and  other words or terms of similar expression or meaning. Such
forward-looking  statements  are  based  on  current  expectations  and  involve
inherent  risks and uncertainties, including factors that could delay, divert or
change  any  of  them,  and  could  cause  actual outcomes and results to differ
materially from current expectations. These factors include, among other things,
uncertainties  relating  to  clinical trials and product development, unexpected
regulatory  delays or government regulation generally. For further details and a
discussion  of  these  and  other  risks  and  uncertainties,  see Bristol-Myers
Squibb's  Securities  and  Exchange  Commission filings, including the company's
2000  annual  report on Form 10-K. Bristol-Myers Squibb undertakes no obligation
to  publicly  update  any forward-looking statement, whether as a  result of new
information,  future  events  or  otherwise.

This  press release contains forward-looking statements regarding Exelixis, Inc.
These  forward-looking statements are based upon Exelixis' current expectations.
Forward-looking  statements  involve  risks  and uncertainties. Exelixis' actual
results  and the timing of events could differ materially from those anticipated
in  its  forward-looking  statements  as  a  result  of  many factors, including
Exelixis'  ability  to  successfully assume the development and manufacturing of
the  rebeccamycin analogue in order to obtain the value ascribed to it under the
collaboration;  the  timing  and  expenses associated with the implementation of
development  and  manufacturing  efforts  for  the  rebeccamycin  analogue;  and
Exelixis'  ability to successfully achieve milestones and royalties derived from
future Bristol-Myers Squibb products developed against selected Exelixis targets
under the collaboration.  These and other risk factors are discussed under "Risk
Factors"  and  elsewhere  in  Exelixis'  Annual Report on Form 10-K for the year
ended December 31, 2000 and other SEC reports.  Exelixis expressly disclaims any
obligation  or  undertaking  to release publicly any updates or revisions to any
forward-looking  statements  contained  herein  to  reflect  any  change  in its
expectations  with  regard  thereto  or  any  change  in  events,  conditions or
circumstances  on  which  any  such  statements  are  based.

CONFERENCE  CALL  INFORMATION  ADDED  HERE.

                                      ####

[  *  ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION  PURSUANT  TO  RULE  24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED.
<PAGE>

[  *  ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION  PURSUANT  TO  RULE  24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED.

                         CANCER COLLABORATION AGREEMENT
                                     BETWEEN
                                 EXELIXIS, INC.
                                       AND
                          BRISTOL-MYERS SQUIBB COMPANY

<PAGE>
<TABLE>
<CAPTION>
                                TABLE OF CONTENTS

                                                                      PAGE
 1.    Definitions                                                       1
<S>     <C>                                                            <C>
  1.1    "Abandoned Target" . . . . . . . . . . . . . . . . . . . . .    1
  1.2    "Affiliate". . . . . . . . . . . . . . . . . . . . . . . . .    1
  1.3    "Assay". . . . . . . . . . . . . . . . . . . . . . . . . . .    2
  1.4    "Back-up Compound" . . . . . . . . . . . . . . . . . . . . .    2
  1.5    "BMS Collaboration Product". . . . . . . . . . . . . . . . .    2
  1.6    "BMS Know-How" . . . . . . . . . . . . . . . . . . . . . . .    2
  1.7    "BMS Patents". . . . . . . . . . . . . . . . . . . . . . . .    2
  1.8    "BMS Product". . . . . . . . . . . . . . . . . . . . . . .  .   3
  1.9    "BMS Selected Target". . . . . . . . . . . . . . . . . . .  .   3
  1.10   "BMS Sole Product" . . . . . . . . . . . . . . . . . . .  . .   3
  1.11   "Collaboration". . . . . . . . . . . . . . . . . . . . .  . .   3
  1.12    "Collaboration Compound" . . . . . . . . . . . . . . . . . .   3
  1.13    "Controlled" . . . . . . . . . . . . . . . . . . . . . . . .   4
  1.14    "Development Field". . . . . . . . . . . . . . . . . . . . .   4
  1.15    "Diligent Efforts" . . . . . . . . . . . . . . . . . . . . .   4
  1.16    "Decision Point 1 (DP1) Approval". . . . . . . . . . . . . .   4
  1.17    "DP1 Orthologue" . . . . . . . . . . . . . . . . . . . . . .   4
  1.18    "Draft Target Pool". . . . . . . . . . . . . . . . . . . . .   5
  1.19    "Eligible Target". . . . . . . . . . . . . . . . . . . . . .   5
  1 20    "EXEL Compound". . . . . . . . . . . . . . . . . . . . . . .   6
  1.21    "EXEL Know-How". . . . . . . . . . . . . . . . . . . . . . .   6
  1.22    "EXEL Patents" . . . . . . . . . . . . . . . . . . . . . . .   6
  1.23    "EXEL Product" . . . . . . . . . . . . . . . . . . . . . . .   6
  1.24    "EXEL Selected Target" . . . . . . . . . . . . . . . . . . .   6
  1.25    "Genetic Entry Point". . . . . . . . . . . . . . . . . . . .   6
  1.26    "Genetic Screen" . . . . . . . . . . . . . . . . . . . . . .   6
  1.27    "Information". . . . . . . . . . . . . . . . . . . . . . . .   6
  1.28    "Invention". . . . . . . . . . . . . . . . . . . . . . . . .   7
  1.29    "Joint Invention". . . . . . . . . . . . . . . . . . . . . .   7
  1.30    "Joint Management Team" or "JMT" . . . . . . . . . . . . . .   7
  1.31    "Joint Scientific Committee" or "JSC". . . . . . . . . . . .   7
  1.32    "Lead Compound". . . . . . . . . . . . . . . . . . . . . . .   7
  1.33    "Major Market" . . . . . . . . . . . . . . . . . . . . . . .   7
  1.34    "MOA Agreement". . . . . . . . . . . . . . . . . . . . . . .   7
  1.35    "Model System Target". . . . . . . . . . . . . . . . . . . .   7
  1.36    "NDA". . . . . . . . . . . . . . . . . . . . . . . . . . . .   8
  1.37    "Net Sales". . . . . . . . . . . . . . . . . . . . . . . . .   8
  1.38    "Patent" . . . . . . . . . . . . . . . . . . . . . . . . . .   9
  1.39    "Pharmacogenomic Product". . . . . . . . . . . . . . . . . .  10
  1.40    "Phase I Clinical Trial" . . . . . . . . . . . . . . . . . .  10
  1.41    "Phase II Clinical Trial". . . . . . . . . . . . . . . . . .  10
  1.42    "Phase III Clinical Trial" . . . . . . . . . . . . . . . . .  10
  1.43    "Phenotypic Screen". . . . . . . . . . . . . . . . . . . . .  10
  1.44    "Product". . . . . . . . . . . . . . . . . . . . . . . . . .  10
  1.45    "PTP". . . . . . . . . . . . . . . . . . . . . . . . . . . .  10
  1.46    "Regulatory Approval". . . . . . . . . . . . . . . . . . . .  10
  1.47    "Remains Confidential" . . . . . . . . . . . . . . . . . . .  10
  1.48    "Research Field" . . . . . . . . . . . . . . . . . . . . . .  11
  1.49    "Research Plan". . . . . . . . . . . . . . . . . . . . . . .  11
  1.50    "Research Term". . . . . . . . . . . . . . . . . . . . . . .  11
  1.51    "Reverted Target". . . . . . . . . . . . . . . . . . . . . .  11
  1.52    "Selected Target". . . . . . . . . . . . . . . . . . . . . .  11
  1.53    "Sole Invention" . . . . . . . . . . . . . . . . . . . . . .  11
  1.54    "Target" . . . . . . . . . . . . . . . . . . . . . . . . . .  11
  1.55    "Target Invention" . . . . . . . . . . . . . . . . . . . . .  11
  1.56    "Third Party". . . . . . . . . . . . . . . . . . . . . . . .  11
  1.57    "Threshold BMS Product". . . . . . . . . . . . . . . . . . .  11
  1.58    "Valid Claim". . . . . . . . . . . . . . . . . . . . . . . .  11
2.  Research  Program  .  .  .  .  .  .  .  .  . . . . . .  . . . . . . 12
  2.1    Overview . . . . . . . . . . . . . . . . . . . .  . . . . . .  12
  2.2    Management Structure . . . . . . . . . . . . .  . . . . . . .  12
  2.3    Joint Management Team. . . . . . . . . . . . .  . . . . . . .  12
  2.4    Joint Scientific Committee . . . . . . . . .  . . . . . . . .  13
  2.5    Meetings . . . . . . . . . . . . . . . . . .  . . . . . . . .  14
  2.6    Research Term. . . . . . . . . . . . . . .  . . . . . . . . .  14
  2.7    Research Plan. . . . . . . . . . . . . . .  . . . . . . . . .  15
  2.8    Genetic Entry Points . . . . . . . . . .  . . . . . . . . . .  15
  2.9    Identification of Model System Targets .  . . . . . . . . . .  16
  2.10    Identification of Human Orthologues of Model System Targets.  16
  2.11    Identification of Eligible Targets . . . . . . . . . . . . .  19
  2.12    Interaction with MOA Agreement . . . . . . . . . . . . . . .  20
  2.13    Obligations of Parties . . . . . . . . . . . . . . . . . . .  22
  2.14    Collaboration Guidelines . . . . . . . . . . . . . . . . . .  22
  2.15    Conduct of Research. . . . . . . . . . . . . . . . . . . . .  22
  2.16    Records. . . . . . . . . . . . . . . . . . . . . . . . . . .  22
  2.17    Reports. . . . . . . . . . . . . . . . . . . . . . . . . . .  23
  2.18    Non-Solicitation . . . . . . . . . . . . . . . . . . . . . .  23
  2.19    Targets Previously Pursued by Entity Acquired by a Party . .  23
3   Selection,  Pursuit  and  Abandonment  of  Targets.  .  .  .  .  .  25
  3.1    Draft Target Pool. . . . . . . . . . . . . . . . .  . . . . .  25
  3.2    Disclosure of Data Prior to Draft Choice . . . . .  . . . . .  26
  3.3    Draft Choice Procedures. . . . . . . . . . . . . . .  . . . .  26
  3.4    Pursuit of Selected Targets. . . . . . . . . . . . .  . . . .  29
  3.5    Exelixis Participation in Development of BMS Products.  . . .  29
  3.6    Target Abandonment . . . . . . . . . . . . . . . . . .  . . .  32
  3.7    Targets Other Than Selected Targets. . . . . . . . . . .  . .  32
  3.8    Records. . . . . . . . . . . . . . . . . . . . . . . . .  . .  32
  3.9    Reports. . . . . . . . . . . . . . . . . . . . . . . . . .  .  33
 3.10    Expenses . . . . . . . . . . . . . . . . . . . . . . . . .  .  33
4.  Additional  Consideration  .  . .  .  .  .  .  .  .  . . . . . .  . 33
  4.1    Stock Purchase Agreement . . . . . . . . . . . . . . . . . .   33
  4.2    Rebeccamycin Analog License Agreement. . . . . . . . . . . .   33
5.  Licenses  and  Related  Rights.    .  .  .  .  .   .  . . . . . . . 33
  5.1    Licenses to BMS. . . . . . . . . . . . . . . .  . . . . . . .  33
  5.2    License Limitations and Option . . . . . . . .  . . . . . . .  36
  5.3    Licenses to Exelixis . . . . . . . . . . . . . .  . . . . . .  39
  5.4    License Limitations. . . . . . . . . . . . . . .  . . . . . .  41
  5.5    Rights of First Negotiation. . . . . . . . . . . .  . . . . .  42
6.  Exclusivity.  .  .  .  .  .  .  .  .  . .  . . . . . . .  . . . . . 44
  6.1    Exelixis . . . . . . . . . . . . . . . . . . . . . .  . . . .  44
  6.2    Independent Research . . . . . . . . . . . . . . . .  . . . .  45
  6.3    Other Research . . . . . . . . . . . . . . . . . . . .  . . .  46
7.  Compensation  .  .    .  .  .  .  .  .  .  . . . . . . . . .  . . . 47
  7.1    License Fee. . . . . . . . . . . . . . . . . . . . . . .  . .  47
  7.2    Research Support . . . . . . . . . . . . . . . . . . . .  . .  47
  7.3    Milestone Payments . . . . . . . . . . . . . . . . . . . .  .  47
  7.4    Royalty Payments . . . . . . . . . . . . . . . . . . . . .  .  50
  7.5    Royalty Adjustments. . . . . . . . . . . . . . . . . . . . .   51
  7.6    Quarterly Payments . . . . . . . . . . . . . . . . . . . . .   52
  7.7    Term of Royalties. . . . . . . . . . . . . . . . . . . . . .   52
  7.8    Royalty Payment Reports. .  . . . . . . . . . . . . . . . . .  53
  7.9    Payment Method . . . . . .  . . . . . . . . . . . . . . . . .  53
  7.10    Taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . .  53
  7.11    Blocked Currency . . . . . . . . . . . . . . . . . . . . . .  53
  7.12    Sublicenses. . . . . . . . . . . . . . . . . . . . . . . . .  53
  7.13    Foreign Exchange . . . . . . . . . . . . . . . . . . . . . .  53
  7.14    Records; Inspection. . . . . . . . . . . . . . . . . . . . .  53
  7.15    Interest . . . . . . . . . . . . . . . . . . . . . . . . . .  53
8.  INTELLECTUAL  PROPERTY.  .   .  . .  .  .  .  .  .  . . . . . . . . 54
  8.1    Ownership. . . . . . .  . . . . . . . . . . . . . . . . . . .  54
  8.2    Disclosure . . . . . . .  . . . . . . . . . . . . . . . . . .  54
  8.3    Patent Prosecution and Maintenance; Abandonment.  . . . . . .  55
  8.4    Enforcement of Patent Rights . . . . . . . . . .  . . . . . .  57
  8.5    Defense of Third Party Claims. . . . . . . . . . .  . . . . .  64
  8.6    Copyright Registrations. . . . . . . . . . . . . .  . . . . .  64
9.  CONFIDENTIALITY.  .  . .  .  .  .  .  .  .  .  . . . . .  . . . . . 65
  9.1    Nondisclosure of Confidential Information. . . . . .  . . . .  65
  9.2    Exceptions . . . . . . . . . . . . . . . . . . . . . .  . . .  65
  9.3    Authorized Disclosure. . . . . . . . . . . . . . . . .  . . .  65
  9.4    Termination of Prior Agreements. . . . . . . . . . . .  . . .  66
  9.5    Publicity. . . . . . . . . . . . . . . . . . . . . . . .  . .  66
  9.6    Publications . . . . . . . . . . . . . . . . . . . . . .  . .  66
10.  TERM  AND  TERMINATION  .  .    .  .  .  .  . . . . . . . . .  . . 67
  10.1    Term . . . . . . . . . . . . . . . . . . . . . . . . . . . .  67
  10.2    Termination for Material Breach. . . . . . . . . . . . . . .  67
  10.3    Effect of Termination; Survival. . . . . . . . . . . . . . .  68
11.  REPRESENTATIONS  AND  COVENANTS.  .  .  . .  .  .  .  . . . . . . 69
  11.1    Mutual Authority . . . . . . . . . . . . . . . . . . . . . .  69
  11.2    Rights in Technology . . . . . . . . . . . . . . . . . . . .  69
  11.3    Performance by Affiliates. . . . . . . . . . . . . . . . . .  69
  11.4    Third Party Rights . . . . . . . . . . . . . . . . . . . . .  69
  11.5    Notice of Infringement or Misappropriation . . . . . . . . .  70
12.  INDEMNIFICATION  AND  LIMITATION  OF  LIABILITY.  . .  .  .  .  . 70
  12.1    Mutual Indemnification . . . . . . . . . . . . . . . . . . .  70
  12.2    Indemnification by BMS . . . . . . . . . . . . . . . . . . .  70
  12.3    Indemnification by Exelixis. . . . . . . . . . . . . . . . .  70
  12.4    Conditions to Indemnification. . . . . . . . . . . . . . . .  71
  12.5    Limitation of Liability. . . . . . . . . . . . . . . . . . .  71
  12.6    Collaboration Disclaimer . . . . . . . . . . . . . . . . . .  72
13.  MISCELLANEOUS.  .  .  .  .    .  .  .  .  . . . . . . . . . . . . 72
  13.1    Dispute Resolution . . . . . . . . . . . . . . . . . . . . .  72
  13.2    Governing Law. . . . . . . . . . . . . . . . . . . . . . . .  73
  13.3    Patents and Trademarks . . . . . . . . . . . . . . . . . . .  73
  13.4    Entire Agreement; Amendment. . . . . . . . . . . . . . . . .  73
  13.5    Export Control . . . . . . . . . . . . . . . . . . . . . . .  73
  13.6    Bankruptcy . . . . . . . . . . . . . . . . . . . . . . . . .  73
  13.7    Force Majeure. . . . . . . . . . . . . . . . . . . . . . . .  74
  13.8    Notices. . . . . . . . . . . . . . . . . . . . . . . . . . .  75
  13.9    Consents Not Unreasonably Withheld or Delayed. . . . . . . .  75
  13.10    Maintenance of Records . . .  . . . . . . . . . . . . . . .  75
  13.11    United States Dollars. . . .  . . . . . . . . . . . . . . .  76
  13.12    No Strict Construction . . . .  . . . . . . . . . . . . . .  76
  13.13    Assignment . . . . . . . .  . . . . . . . . . . . . . . . .  76
  13.14    Electronic Data Interchange . . . . . . . . . . . . . . . .  76
  13.15    Counterparts . . . . . . .  . . . . . . . . . . . . . . . .  76
  13.16    Further Actions. . . . . .  . . . . . . . . . . . . . . . .  76
  13.17    Severability . . . . . . .  . . . . . . . . . . . . . . . .  76
  13.18    Headings . . . . . . . . .  . . . . . . . . . . . . . . . .  76
  13.19    No Waiver. . . . . . . . .  . . . . . . . . . . . . . . . .  76
Exhibit  1.25  .  .  .  .  .  .  .     .  .  .  .  . . . . . . . . . . . 1
Exhibit  1.28  .  .  .  .  .  .  .    .   .  .  .  . . . . . . . . . . . 1
Exhibit  5.1(a)(vii).  .  .  .  .    .   .  .  .  .  .  .  . . . . . . . 1
Exhibit  5.3(d)  .  .  .  .  .  .    .  .   .  .  .  . . . . . . . . . . 1
Exhibit  9.5.  .  .  .  .  .  .  . .  .  .   .  .  . . . . . . . . . . . 1
</TABLE>

[  *  ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION  PURSUANT  TO  RULE  24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED.
<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}]]