Document:

Asset Sale and Purchase Agreement between Senetek PLC and Ranbaxy Pharm.

 Exhibit 10.99 
 ASSET PURCHASE AND SALE AGREEMENT 
 THIS ASSET PURCHASE AND SALE AGREEMENT, dated as of
March 15, 2006, is entered into by and between SENETEK PLC, a corporation duly organized and validly existing under the laws of England and having a place of business located at 831 Latour Court, Napa, California 94558
(“Senetek”), and RANBAXY PHARMACEUTICALS INC., a corporation duly organized and validly existing under the laws of the State of Florida, having a place of business located at 9431 Florida Mining Boulevard,
Jacksonville, Florida 32257 (“Ranbaxy”). 
 PRELIMINARY STATEMENTS 
 WHEREAS, Senetek owns manufacturing equipment, supplies and other tangible property, and patents, trademarks, proprietary know-how, technology and
other intangible property relating to the development, production and analytical methods of the Devices and the Products hereinafter described; and 
 WHEREAS, Ranbaxy wishes to purchase such Assets and undertake the regulatory approvals and commercial activities required to market the Products, all upon the terms and conditions recited hereinafter. 
 NOW, THEREFORE, in consideration of the foregoing Preliminary Statements and the mutual representations, warranties and covenants set forth
herein, the Parties hereby agree as follows: 
 1. DEFINITIONS. 
 In addition to the terms defined elsewhere herein, as used in this Agreement the following terms shall have the meanings set forth in this Article 1 unless context dictates otherwise: 
 1.1 “AAA” shall have the meaning assigned to such term in Article 10. 
 1.2 “Affiliate” shall mean, with respect to any Party, any entity controlling, controlled by, or under common control with, such Party.
For these purposes, “control” shall refer to (i) the possession, directly or indirectly, of the power to direct the management or policies of an entity, whether through the ownership of voting securities, by contract or otherwise, or
(ii) the ownership, directly or indirectly, of at least fifty percent (50%) of the voting securities or other ownership interest of an entity. 
 1.3 “Agreement” shall mean this Lease and License Agreement together with all exhibits, schedules and attachments hereto. 

 1.4 “Ardana License” means the License Agreement, dated June 17, 2004, between
Senetek and Ardana Bioscience Limited (“Ardana”) as set forth in Schedule 1.4, and any amendments or modifications thereto. 
 1.5 “Assets” shall mean all of Senetek’s existing (i) tangible assets related to the Devices and the Products, including, without limitation, all automated and semi-automated equipment necessary to assemble, fill
and otherwise produce and manufacture the Reliaject Device more fully described in Paragraph A of Schedule 1.12 (currently configured for dental cartridges) (the “Reliaject Equipment”), and all existing components, raw materials,
supplies, labels, packaging, parts, work-in-process, finished goods, goods on consignment and all other materials (“Inventory”) utilized in connection with the production, manufacture and packaging of the Devices and the Products,
including that described in Schedule 1.36 (collectively, the “Tangible Assets”); (ii) intangible assets related to the Devices and the Products, including, without limitation, all Patents set forth on Schedule 1.31 hereto,
which includes the patent numbers, patent titles and patent terms thereof, all statutory trademarks set forth on Schedule 1.43 hereto together with all common law trademarks related thereto, including, without limitation, “Reliaject” and
“Adrenaject”, all Senetek Know-How, goodwill and all other intangibles, intellectual property and proprietary information related thereto, including, without limitation, all operating manuals, validation packages, unexpired warranties and
indemnities of Third Parties, all rights and claims against Third Parties related to the Devices and the Products, and copies of all information relating to Senetek’s past ANDA submission for the Reliaject Device for the emergency treatment of
anaphylaxis, including all correspondence between Senetek and the FDA regarding this ANDA submission; (iii) all accounting information related to the Devices and the Products and all media in which or on which any of the information, knowledge,
data or records related to the Devices and the Products may be related or stored; and (iv) all computer software related to accounting and operations systems of Senetek in connection with the Devices and the Products (the Assets
described in clauses (ii), (iii) and (iv), collectively, the “Intangible Assets”) . 
 1.6 “Calendar
Quarter” shall mean a period of three (3) consecutive months in the Georgian calendar ending at midnight, Eastern Time on the last day of March, June, September, or December, respectively. 
 1.7 “CFR” shall mean the United States Code of Federal Regulations. 
 1.8 “cGMP” shall mean current Good Manufacturing Practice as defined in Parts 210 and 211 of Title 21 of the CFR, as may be amended from
time to time, or any successor thereto. 
 1.9 “Commercially Reasonable Efforts” shall mean, with respect to a Party, those
commercial efforts which a reasonable businessman having that Party’s business, legal, medical and scientific expertise and resources would use for a pharmaceutical product or device which is of similar market potential at a similar stage in
development or its product or device life, taking into account the competitiveness of the marketplace, the proprietary position of the product or device and the profitability of the product or device, it being understood that a Party’s
Commercially Reasonable Efforts will not in any event require that Party to take any action that 
  

 2 

 would be reasonably likely to result in a breach of any other provision of this Agreement, or any other agreement between
the Parties, or any other agreement between a Party, Affiliate of such Party and/or Third Parties existing as of the Effective Date, or that the Party in good faith believes may violate any applicable law, regulation, rule, order, permit, direction
or license of any court or governmental authority having appropriate jurisdiction over the Party and subject matter or would be reasonably likely to be disruptive of any material service conducted or product made at or from any of its facilities or
impair its ability to provide services or products hereunder. 
 1.10 “Competing Product” means any product containing the
same active ingredient as compared to a Ranbaxy product and providing for a patient-self-administered auto-injection delivery method (i.e., Epinephrine Product, Non-Epinephrine Product, etc.). 
 1.11 “Confidential Information” shall mean, with respect to either Party, all confidential or proprietary information and materials,
patentable or otherwise, in any form (written, oral, photographic, electronic, magnetic, or otherwise) which is disclosed by or on behalf of such Party to the other Party pursuant to or in contemplation of this Agreement, including, without
limitation, information relating to the Assets, the Devices, the Products or any other product of either Party or the pricing thereof; provided that such Confidential Information is identified as confidential either: (i) at the time of
disclosure; or (ii) in writing, within thirty (30) days after disclosure, except as otherwise provided in Section 5.2. 
 1.12
“Devices” shall mean (i) the disposable automated injection device described in Paragraph A of Schedule 1.12 together with all modifications and enhancements thereof covered by any claim of the Patents or produced and assembled
in whole or in part through use of the Reliaject Equipment (the “Reliaject Device”) and (ii) the reusable modified Owen Mumford automated injection device described in Paragraph B of Schedule 1.12 together with all modifications and
enhancements thereof. 
 1.13 “Disclosing Party” shall have the meaning assigned to such term in Section 5.1

 1.14 “DMF” shall mean the Drug Master File applicable to the Devices and/or the Products as from time to time in effect.

 1.15 “Effective Date” shall mean the date of this Agreement as set forth in the Preamble. 
 1.16 “Encumbrance” means with respect to any Assets, any mortgage, lien, pledge, charge, security interest, conditional sale agreement,
financing statement or encumbrance of any kind or any other type of preferential arrangement that has the practical effect of creating a security interest in respect of such Asset. 
 1.17 “Epinephrine Product” means the Devices unfilled or pre-filled with the active pharmaceutical ingredient epinephrine or its analogs
or in kit form with ampoules or cartridges pre-filled with epinephrine. 
  

 3 

 1.18 “Excluded Liabilities” means any and all liabilities or obligations of Senetek or
its Affiliates, of any kind or nature, whether or not relating to the Assets, and whether known or unknown, absolute, accrued, contingent or otherwise, or whether due or to become due, arising out of events, transactions, facts, acts or omissions
occurring prior to, at or subsequent to the Effective Date, including, without limitation, all liabilities and obligations relating to the Ardana License and any costs, claims, damages, expenses and/or liabilities in connection with the action
disclosed on Schedule 2.2.7. 
 1.19 “FDA” shall mean the United States Food and Drug Administration, or any successor
agency having regulatory jurisdiction over the manufacture, distribution and sale of drugs in the United States and its territories and possessions. 
 1.20 “FDC Act” shall mean the Federal Food, Drug and Cosmetic Act, 21 U.S.C. §321 et seq., as amended, and the regulations promulgated thereunder from time to time. 
 1.21 “First Commercial Sale” shall mean the first sale of any of the Products for which payment has been received for use or
consumption. 
 1.22 “GAAP” shall mean generally acceptable United States accounting principles consistently applied by
Ranbaxy in preparing its audited consolidated financial statements. 
 1.23 “Gross Sales” shall mean, with respect to a
specified quantity of the Products, such quantity of the Product multiplied by the gross price invoiced by Ranbaxy or its Affiliates therefor for sales to unaffiliated third parties, calculated in accordance with GAAP. 
 1.24 “Indemnitee” shall have the meaning assigned to such term in Section 8.3. 
 1.25 “Indemnitor” shall have the meaning assigned to such term in Section 8.3. 
 1.26 “Knowledge” means the actual knowledge of the executive officers and/or directors of the Company or any Subsidiary, assuming due
inquiry. 
 1.27 “Net Sales” shall mean, with respect to a specified quantity of the Products, the Gross Sales with respect
thereto, less the following deductions to the extent consistent with Ranbaxy’s standard trade terms for like products and with GAAP consistently applied: (i) trade, quantity or cash discounts applicable to gross amounts billed and allowed,
paid or otherwise included in determining net sales, (ii) credits or allowances given or made on account of rejection, recall, withdrawal, return or destruction of Products previously delivered (if supported by appropriate documentation),
(iii) charge-back payments and rebates (including, without limitation, Medicaid rebates and retroactive price reductions) granted to managed health care organizations or to national, federal, state or local governments, their agencies or
reimbursers, or to trade customers, including wholesalers and chain and pharmacy buying groups, and (iv) tariffs, customs charges, duties, sales and excise taxes and any other like governmental charges imposed upon the importation or
exportation of such Products. No marketing, promotional or advertising expenses of any kind will be deducted from Gross Sales to determine Net Sales. 
  

 4 

 1.28 “Non-Epinephrine Product” means the Devices unfilled or pre-filled with any active
pharmaceutical ingredient other than epinephrine or its analogs, or in kit form with ampoules or cartridges pre-filled with any such pharmaceutical ingredient other than epinephrine or its analogs. 
 1.29 “North America Territory” means the United States of America and Canada. 
 1.30 “Party” shall mean Ranbaxy or Senetek and, when used in the plural, shall mean Ranbaxy and Senetek. 
 1.31 “Patents” shall mean the patents and patent applications set forth in Schedule 1.31 hereto. 
 1.32 “Person” means an individual, partnership, corporation, limited liability company, joint stock company, unincorporated organization
or association, trust or joint venture, or a governmental agency or political subdivision thereof. 
 1.33 “Products” shall
mean any of the Devices as offered for sale, whether in individual or multiple packs and whether sold unfilled, pre-filled with the active pharmaceutical ingredient epinephrine or another active pharmaceutical ingredient or in kit form with ampoules
or cartridges pre-filled with any such pharmaceutical ingredient. 
 1.34 “Receiving Party” shall have the meaning assigned
to such term in Section 5.1. 
 1.35 “Regulatory Authority” shall mean the FDA and any other regulatory authorities
having jurisdiction over the manufacture, importation, distribution, mandating, use and sale of the Product in the Territory. 
 1.36
“Reliaject Equipment” shall mean the items listed on Schedule 1.36 hereto. 
 1.37 “Senetek Patent Rights”
means the patent and patent applications listed in Schedule 1.31. 
 1.38 “Subsidiary” shall mean, with respect to a Party,
an Affiliate of such Party all of the equity securities of which are owned, directly or indirectly, by such Party. 
 1.39 “Senetek
Know-How” shall mean all information and data in Senetek’s possession or control which is not generally known, including formulae, procedures, protocols, techniques and results of experimentation and testing, which are necessary or
useful to make, use, develop, sell or seek regulatory approval in the Territory to market the Product. 
 1.40 “Term” shall
have the meaning assigned to such term in Section 6.1. 
 1.41 “Territory” shall mean the World. 
 1.42 “Third Party” shall mean any person who or which is neither a Party nor an Affiliate of a Party. 
  

 5 

 1.43 “Trademarks” shall mean the trademarks listed in Schedule 1.43 hereto. 

1.44 “Valid Claim” means a claim of an issued and unexpired Patent included within the Senetek Patent Rights which has not been held
permanently revoked, unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and which has not been admitted to be invalid or
unenforceable through reissue or disclaimer or otherwise. 
 2. REPRESENTATIONS AND WARRANTIES. 
 2.1 Representations by Each Party. Each Party hereby represents and warrants to the other Party, as of the Effective Date, as follows: 

2.1.1 such Party (i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is
incorporated; (ii) has the corporate power and authority and the legal right to own and operate its property and assets, to lease the property and assets it operates under lease, and to carry on its business as it is now being conducted; and
(iii) is in compliance with all requirements of applicable law, except to the extent that any noncompliance would not have a material adverse effect on the properties, business, financial or other condition of such Party and would not
materially adversely affect such Party’s ability to perform its obligations under this Agreement; 
 2.1.2 such Party (i) has the
corporate power and authority and the legal right to enter into this Agreement and to perform its obligations hereunder; and (ii) has taken all necessary corporate action, including any required shareholder approval, on its part to authorize
the execution and delivery of this Agreement and the performance of its obligations hereunder. This Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid, binding obligation, enforceable against such
Party in accordance with its terms, subject to enforcement of remedies pursuant to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting generally the enforcement of creditors’ rights and subject to a
court’s discretionary authority with respect to the granting of a decree ordering specific performance or other equitable remedies; 
 2.1.3 such Party has obtained all necessary consents, qualifications, approvals, orders or authorizations, or filings with, any governmental authorities, including any court, and Third Parties required to be obtained by such Party in
connection with the valid execution, delivery or performance of this Agreement or the consummation of any other transaction contemplated by this Agreement; 
 2.1.4 the execution and delivery of this Agreement and the performance of such Party’s obligations hereunder (i) do not, to the best of such Party’s knowledge, conflict with or violate any requirement
of applicable laws or regulations; and (ii) do not conflict with, or constitute a default under, any contractual obligation of such Party; and 
  

 6 

 2.1.5 such Party has not entered into any agreement with any Third Party that is in conflict or
inconsistent with the rights granted to the other Party pursuant to this Agreement. 
 2.2 Representations by Senetek. Senetek hereby
represents and warrants to Ranbaxy, as of the Effective Date, as follows: 
 2.2.1 Title to Properties; Liens and Encumbrances.
(a) Senetek has good and marketable title to and owns free and clear of any Encumbrances or restrictions on transfer, or, leases or has the right to use the Assets. Upon consummation of the transactions contemplated hereby, good and marketable
title to each of the Assets shall be vested in Ranbaxy. The Assets constitute the entire right, title and interest owned by Senetek relating to the Devices and the Product. The Assets are, to the Knowledge of Senetek, structurally sound with no
defects, have been maintained or stored in accordance with normal industry practices or Senetek’s normal storage practices and are, to the Knowledge of Senetek, in good and/or workable operating condition and repair (except for ordinary wear
and tear). 
 (b) Schedule 1.36 is a true and complete list of all of the Reliaject Equipment, and Schedule 1.5 contains a true and correct
list of all Inventory for the production, manufacture and packaging of the Devices, which are all of the Tangible Assets in Senetek’s possession or control necessary or useful to produce, manufacture and package the Devices. 
 2.2.2 Business. Senetek has no Knowledge that there exists, or there is pending or planned, any statute, rule, law, regulation, standard or code,
including, without limitation, any regulations, notifications, correspondence, rules or interpretive position of the FDA, which would, or would reasonably be expected to have a material adverse effect on the Assets or the development or
commercialization of the Devices or the Products. 
 2.2.3 Absence of Certain Changes. Since January 1, 2005, except as disclosed
on Schedule 2.2.3, there has not been any change or any development which could reasonably be expected to result in a prospective material adverse effect on the Assets or the development or commercialization of the Products. During the past twelve
months, Senetek has maintained the Assets in the ordinary and usual course consistent with past practices and has not: 
 (i) whether or not
covered by insurance, incurred any material damage or loss to any Assets; 
 (ii) incurred, or become subject to, any obligation or liability
(absolute or contingent, matured or unmatured, known or unknown) with respect to the Assets, or mortgaged, pledged or subjected to any Encumbrance any of its Assets which continues to exist as of the date hereof; 
 (iii) sold, exchanged, transferred or otherwise disposed of any of its Assets, or canceled any debts or claims with respect thereto; 
 (iv) written down the value of any Assets, except write-downs and write-offs in the ordinary course of business, none of which, individually or in the
aggregate, are material to Senetek; 
  

 7 

 (v) entered into any transactions with respect to the Assets; 
 (vi) received any correspondence, subpoena or other information requesting data or material or indicating that the FDA or any other governmental entity
had commenced, or was or is considering commencing, a review of any of the Assets; or 
 (vii) made an agreement to do any of the foregoing.

 2.2.5 Leases, Contracts and Commitments. (a) Senetek has no outstanding contracts, agreements, loans, leases, license, guarantees,
obligations or commitments associated with any of the Assets. 
 2.2.6 Suppliers. There have been no suppliers of any of the Assets
during 2004 or 2005. 
 2.2.7 Litigation. Except as disclosed on Schedule 2.2.7, there are no actions, suits, proceedings, hearings or
investigations before any governmental entity to which Senetek is a party in connection with the Assets. Senetek is not a party to or, to the Knowledge of Senetek, threatened to be made a party to any actions, suits, proceedings, hearings or
investigations of, in or before any governmental entity that would have, individually or in the aggregate, a material adverse effect on the Assets or that questions or challenges the validity of this Agreement or any action taken or to be taken by
Senetek pursuant to this Agreement. There is not outstanding against Senetek any decision, judgment, decree, injunction, rule or order of any governmental entity, that would have, individually or in the aggregate, a material adverse effect on the
Assets. Without limiting the foregoing, Senetek is not involved in nor, to the Knowledge of Senetek, is it reasonably anticipated that Senetek would become involved in any dispute with any of its current or former employees, agents, brokers,
customers or suppliers that would have, individually or in the aggregate, a material adverse effect on the Assets. 
 2.2.8
Insolvency. No insolvency proceedings of any character, including, without limitation, bankruptcy, receivership, reorganization, composition, or arrangement with creditors, voluntary or involuntary, affecting Senetek is pending or, to the
Knowledge of Senetek, threatened; nor has Senetek made any assignment for the benefit of creditors, or taken any action in contemplation thereof, or taken any action which would constitute the basis for the institution of any such insolvency
proceedings. 
 2.2.9 Licenses, Permits and Approvals. There are no licenses, permits, approvals, qualifications or the like, issued
or to be issued to Senetek by any government or any governmental unit, agency, body or instrumentality, whether federal, state, municipal or local (within the U.S. or otherwise) in connection with the Assets. No registration with, approval by,
consent or clearance from or pre-notification to any governmental agency is required in connection with the execution and performance of this Agreement by Senetek. 
 2.2.10 Environmental Matters. With respect to the Assets (a) Senetek is in compliance with all applicable environmental laws, and (b) Senetek has not received any written notice with respect to the
Assets from any governmental entity or third party alleging that Senetek is not in material compliance with any environmental law. 
  

 8 

 2.2.11 ANDA Submissions. Schedule 2.2.11 is a true, correct and complete list of all of the
information in Senetek’s possession or control relating to Senetek’s past ANDA submission for the Reliaject Device for the emergency treatment of anaphylaxis, including all correspondence between Senetek and the FDA regarding this ANDA
submission. 
 2.2.12 Intellectual Property. (a) Schedules 1.31 and 1.43 are true, correct and complete lists of all of the Patents
and statutory Trademarks, respectively, owned by Senetek and its Affiliates related to the Devices or the Products. Senetek has made all payments and filings required to maintain the same in full force and effect, and each is subsisting and in good
standing as of the Effective Date except, in the case of the Trademarks, for the effect, if any, of lack of commercial use thereof. Except as described in Schedule 2.2.7, there are no oppositions, cancellations, invalidity proceedings, interferences
or re-examination proceedings pending with respect to any Patents or Trademarks. To the Knowledge of Senetek, the use of the Patents, the Trademarks, the Senetek Know-How and the other Assets in the manner contemplated by this Agreement does not
infringe the rights of any Third Party and no Third Party is infringing any of the Patents or the Trademarks. 
 (b) Senetek follows
reasonable commercial practices common in the industry to protect its proprietary and confidential information, including requiring its employees, consultants and agents that have access to the know how and other proprietary information of Senetek,
including, without limitation, any proprietary software developed by Senetek, to be bound in writing by obligations of confidentiality and non-disclosure, and requiring its employees, consultants and agents that have access to the know how and other
proprietary information of Senetek to assign to it any and all inventions and discoveries discovered by such employees, consultants and/or agents within the scope of and during their employment and only disclosing proprietary and confidential
information to third parties pursuant to written confidentiality and non-disclosure agreements. 
 2.2.13 Liabilities. Senetek has no
liabilities or obligations (absolute, accrued, contingent or otherwise) relating to the Assets. 
 2.2.14 Ardana License. (a) The
Ardana License as set forth in Schedule 1.4 is true and correct, and there are no amendments or modifications thereto except as set forth in such documents. 
 (b) Except for the Ardana License, Senetek has not granted any other licenses or other rights to use any of the Patents, the Trademarks, the Senetek Know-How or any other of the Assets to any Third Party. 

2.2.15 Disclosure. No representation or warranty by Senetek in this Agreement contains an untrue statement of a material fact or omits any
material fact necessary to make the statements of material fact contained herein, in light of the circumstances under which made, not misleading. To the Knowledge of Senetek, there is no fact or circumstance not disclosed to Ranbaxy which materially
adversely affects the Assets 
 2.2.16 Brokers or Finders. No agent, broker, investment banker, financial advisor or other firm or
Person is or will be entitled to any brokers’ or finder’s fee or other commission or similar fee in connection with the transactions contemplated by this Agreement. 
  

 9 

 2.2.17 Survival of Representations and Warranties of Senetek. The representations and warranties
of Senetek made in this Agreement are correct, true and complete as of the Effective Date, and shall survive the Closing for a period of three (3) years except for the following: 
 (a) the representations and warranties contained in subsections 2.2.1 and 2.2.12 hereof shall survive for the maximum period permitted by law; and

 (c) the representations and warranties of subsection 2.2.10 with respect to Environmental Matters shall survive for a period of four
(4) years from the Effective Date. 
 Each of Senetek and Ranbaxy acknowledge and agree that as long as written notice is given on or
prior to the three (3) year anniversary of the Effective Date relating to claims for indemnification for representations and warranties surviving for three (3) years, or the four (4) year anniversary of the Effective Date relating to
claims for indemnification for representations and warranties surviving for four (4) years, any such claim for indemnification shall survive until such matter is resolved. 
 2.3 Representations by Ranbaxy. Ranbaxy hereby represents and warrants to Senetek, as of the Effective Date, as follows: 
 2.3.1 Litigation. Ranbaxy is not a party to or, to the Knowledge of Ranbaxy, threatened to be made a party to any actions, suits, proceedings,
hearings or investigations of, in or before any governmental entity that would have, individually or in the aggregate, a material adverse effect on the transactions contemplated by this Agreement or that questions or challenges the validity of this
Agreement or any action taken or to be taken by Ranbaxy pursuant to this Agreement. 
 2.3.2 Licenses, Permits and Approvals. No
registration with, approval by, consent or clearance from or pre-notification to any governmental agency is required in connection with the execution and performance of this Agreement by Ranbaxy. 
 2.3.3 Disclosure. No representation or warranty by Ranbaxy in this Agreement contains an untrue statement of a material fact or omits any material
fact necessary to make the statements of material fact contained herein, in light of the circumstances under which made, not misleading. 
 2.3.4 Brokers or Finders. No agent, broker, investment banker, financial advisor or other firm or Person is or will be entitled to any brokers’ or finder’s fee or other commission or similar fee in connection with the
transactions contemplated by this Agreement. 
 3. PURCHASE AND SALE OF ASSETS. 
 3.1 Conveyance. Effective as of the Effective Date, Senetek, on its own behalf and on 
  

 10 

 behalf of its Affiliates, hereby unconditionally and irrevocably transfers and sells to Ranbaxy, and Ranbaxy hereby
unconditionally and irrevocably purchases from Senetek, all of Senetek’s and its Affiliates’ right, title and interest in and to the Assets. Senetek hereby delivers to Ranbaxy a General Assignment and Bill of Sale, a Patent Assignment and
a Trademark Assignment, in the forms annexed as Exhibits A through C hereto, duly executed by Senetek or its Affiliates, as appropriate, to evidence such transfer and assignment. 
 3.2 Purchase Price. (a) In consideration of the transfer and sale of the Assets, Ranbaxy hereby pays to Senetek, simultaneously with
execution and delivery of this Agreement, by official bank or certified check to the order of Senetek, the non-refundable and non-creditable (subject to Section 6.2 and 6.3) sum of *** (the “Closing Payment”), and, subject to
Sections 6.1, 6.2 and 6.3, covenants and agrees to pay to Senetek the following non-refundable and non-creditable sums as additional Purchase Price: 
 3.2.1 *** upon obtaining final ANDA or equivalent FDA approval for an Epinephrine Product for the emergency treatment of anaphylaxis; 
 3.2.2 *** upon achieving cumulative worldwide Net Sales of Products (including Products referred to in subsection 3.2.4 below) of *** ; 
 3.2.3 *** of the Net Sales of any Epinephrine Products in the North America Territory; and 
 3.2.4 *** of the Net Sales of all
Non-Epinephrine Products identified on Schedule 3.2.4 in the North America Territory. 
 (b) Senetek and Ranbaxy acknowledge and agree that
with respect to (i) all Non-Epinephrine Products not identified on Schedule 3.2.4, or (ii) any Product sold by Ranbaxy outside of the North America Territory, during the period of sixty (60) days after Ranbaxy gives Notice to Senetek
of its desire to sell a Non-Epinephrine Product not identified in Schedule 3.2.4 or a Product in a country outside the North America Territory, Senetek and Ranbaxy shall negotiate in good faith with respect to the payments to Senetek applicable to
the Net Sales of such Products, on a case-by-case basis, provided that if the Parties are unable to reach agreement within such period, as the same may be extended by mutual agreement, the payment applicable to the Net Sales of such Products
shall be determined by adjusting the payment applicable pursuant to Section 3.2.3 or 3.2.4, as the case may be, to reflect the difference between the Gross Margin expected by Ranbaxy to be realized from such Net Sales of a Non-Epinephrine
Product not identified in Schedule 3.2.4 or a Product in a country outside the North America Territory, as the case may be, during the first full calendar year after the commercial launch thereof, to the Gross Margin realized by Ranbaxy during the
preceding full calendar year from Non-Epinephrine Products identified on Schedule 3.2.4 or from Products sold in the North America Territory, as the case may be, provided further that either Party may, by Notice after the first full calendar
year after such commercial launch, require re-adjustment of such amount not more often than once per calendar year based upon the actual Gross Margins actually realized from 
 *** Confidential treatment has been requested 
  

 11 

 such sales and the Gross Margins realized from sales referred to in Section 3.2.3 and 3.2.4 during the last
preceding full calendar year. For purposes hereof, “Gross Margin” shall mean the fraction of which the numerator shall be the Net Sales less the fully absorbed cost of goods of a Product and the denominator shall be the Net Sales of
such Product, determined in accordance with GAAP. 
 3.3 Payments. Beginning with the Calendar Quarter in which the First Commercial
Sale of any of the Products is made in the Territory and for each Calendar Quarter thereafter, within sixty (60) days after the end of each Calendar Quarter, Ranbaxy shall provide Senetek with a quarterly reconciliation report, in the form
attached hereto as Exhibit D, that reflects the calculation of Gross Sales and Net Sales by Product and country, during such quarter, the reconciliation amount to be paid to Senetek pursuant to Section 3.2, and the cumulative Net Sales of all
Products since the First Commercial Sale of any of the Products. Each such statement shall be accompanied by payment of the amount set forth in such reconciliation. Ranbaxy shall make all payments required under this Agreement by wire transfer to
such bank account or other depositary as may be directed by Senetek from time to time, in U.S. Dollars. 
 3.4 Audit Rights. Ranbaxy
shall keep, and shall require each contract manufacturer and distributor of any Products to keep, true, accurate and complete records with respect to the calculation of the Gross Sales, Net Sales and Gross Margin by Product and by country, and the
reconciliation amount paid to Senetek for a period of two (2) years after the year in which the sale of the Product generating the same occurred, and in sufficient detail to allow Senetek to confirm the accuracy of all payments made hereunder.
At the request of Senetek, Ranbaxy and its Affiliates shall, and shall require each such contract manufacturer and distributor to, permit an independent certified public accountant appointed by Senetek, at reasonable times and upon reasonable Notice
(but in no event more than once per calendar year), to examine those records and all other documents relating to or relevant to Gross Sales, Net Sales and the reconciliation amount paid to Senetek in the possession or control of Ranbaxy or its
Affiliates, for a period of two (2) years after same have accrued, as may be necessary: (i) to determine the correctness of any report or payment made under this Agreement; or (ii) to obtain information as to same with respect to any
Calendar Quarter in the event of Ranbaxy’s failure to report or pay pursuant to this Agreement. The accounting firm shall disclose to Senetek only whether such payments are correct, or the amount of the discrepancy if not correct, but not the
specific details concerning any discrepancies. The results of any such examination shall be made available to both Parties. Senetek shall bear the full cost of the performance of any such audit except as hereinafter set forth. If, as a result of any
inspection of the books and records of Ranbaxy or its Affiliates, it is shown that Ranbaxy’s payments under this Agreement were less than the amount which should have been paid, then Ranbaxy shall make all payments required to be made to
eliminate any discrepancy revealed by said inspection within forty-five (45) days after Senetek’s demand therefor, and if the payments made by Ranbaxy were less than *** of the amount of payments that should have been paid with respect to
the period in question, Ranbaxy shall also reimburse Senetek for the cost of such examination, not to exceed *** If, as a result of any inspection of the books and records of Ranbaxy or its Affiliates, it is shown that Ranbaxy’s payments under
this Agreement were more than the amount which should have been paid, then Senetek shall make all payments required to be made to eliminate any overpayment revealed by said inspection within forty-five (45) days after Ranbaxy’s demand
therefor. 
 *** Confidential treatment has been requested 
  

 12 

 3.5 Taxes. In the event that Ranbaxy is required to withhold from any payment to Senetek any tax
or other like impost payable by Senetek, such amount shall be deducted from the payment to be made by Ranbaxy, and Ranbaxy shall promptly notify Senetek of such withholding and, within a reasonable amount of time after making such deduction, furnish
Senetek with copies of any tax certificate or other documentation evidencing such withholding. Each Party agrees to cooperate with the other Party in claiming exemptions from such deductions or withholdings under any agreement or treaty from time to
time in effect. 
 3.6 Further Assurances. Senetek hereby agrees to execute or cause to be executed and to deliver from time to time
such other and further assignments and other instruments as Ranbaxy may reasonably request to further perfect and evidence the transfer and sale provided for in Section 3.1. 
 3.7 Closing. The closing of any sale and purchase of the Assets pursuant to Section 3.1 (the “Closing”) shall take place at the
offices of St. John & Wayne, L.L.C., Two Penn Plaza East, Newark, New Jersey 07105, unless another place, date and time is mutually agreed upon by Senetek and Ranbaxy. The Closing shall be deemed to be effective as of 6:00 PM on the
Effective Date. 
 3.8 Liabilities. Ranbaxy shall not be the successor to Senetek and is not required to, does not and shall not
assume, pay, perform, defend, discharge or guarantee or be deemed to have assumed, paid, performed, defended or discharged or guaranteed, or otherwise be responsible for any Excluded Liability. With respect to the action disclosed on Schedule 2.2.7,
Senetek shall be responsible for the control and defense, as well as the satisfaction of all fees and expenses, of such action, subject to Senetek’s right to abandon the same and Ranbaxy’s right to assume the same as provided in
Section 4.7. Senetek shall keep Ranbaxy informed about the status and progress of such action, including any difficulties encountered by Senetek during the course of such action, no less than on a monthly basis. RANBAXY SHALL ASSUME NO
DEBTS, LIABILITIES, OBLIGATIONS OR COMMITMENTS OF SENETEK (WHETHER KNOWN OR UNKNOWN, ASSERTED OR UNASSERTED, FIXED, ABSOLUTE OR CONTINGENT, MATURED OR UNMATURED, ACCRUED OR UNACCRUED, LIQUIDATED OR UNLIQUIDATED, DUE OR TO BECOME DUE WHENEVER OR
HOWEVER ARISING) WHATSOEVER. 
 3.9 Senetek Closing Deliveries. Senetek shall make the following deliveries at Closing, each in
form and substance acceptable to the receiving party: 
 (a) deliver to Ranbaxy such bills of sale, endorsements, assignments and other good
and sufficient instruments of sale, assignment, conveyance and transfer, including the Closing deliveries provided in Section 3.1, satisfactory in form and substance to Ranbaxy and its counsel, as shall be required to vest in Ranbaxy all of
Senetek’s right, title and interest in and to the Assets. In addition, at the Closing, Senetek shall deliver to Ranbaxy such consents and assignments, in form and substance satisfactory to Ranbaxy and its counsel, to permit the assignment to
Ranbaxy of all those leases, contracts, agreements, commitments or other undertakings comprising a part of the Assets; 
  

 13 

 (b) deliver to Ranbaxy certified copies of the resolutions of the Board of Directors of Senetek
authorizing the execution and delivery of this Agreement and the transactions contemplated hereby; 
 (c) deliver copies of all UCC-3
Termination Statements which evidence the termination of any and all liens and encumbrances affecting the Assets as well as evidence of receipt of the consents and approvals described in Schedule 2.1.3 hereto; 
 (d) deliver an opinion of Senetek’s counsel to Ranbaxy, dated the Effective Date, in the form of Exhibit E attached hereto; 
 (e) deliver a certificate of good standing for Senetek dated within thirty (30) days of the Effective Date, issued by the Secretary of State of the
state or jurisdiction of incorporation of Senetek and of each state in which Senetek is qualified to do business; 
 (f) deliver all of the
certificates, documents, contracts, assignments, opinions, records, schedules and other exhibits required by this Agreement; 
 (g) deliver a
certificate executed by the Secretary of Senetek certifying as of the Effective Date (i) a true and complete copy of the Articles of Association of Senetek; and 
 (h) deliver any other documents or instruments of conveyance and transfer as Ranbaxy may reasonably request not less than ten (10) days prior to the Closing Date for the purpose of assigning, transferring,
granting, conveying and confirming the Assets to Ranbaxy. 
 Ranbaxy shall accept possession of the Assets, wherever located, as identified
by Senetek by Notice as provided in Article 12, at or immediately prior to the Effective Date, and shall be responsible for removing all of the Tangible Assets and arranging with a third party storage facility for the storage by such third party of
such Assets until such time as Ranbaxy transfers such Assets to its manufacturing facility. 
 3.10 Ranbaxy Closing Deliveries. At the
Closing, in addition to any other documents specifically required to be delivered pursuant to this Agreement, Ranbaxy shall: 
 (a) pay the
Closing Payment by wire transfer to such bank account or other depositary as directed at Closing by Senetek, in U.S. Dollars; 
 (b) deliver
a certificate of good standing of Ranbaxy from the Florida Secretary of State dated within thirty (30) days of the Closing Date; 
 (c)
deliver to Senetek the opinion of counsel for Ranbaxy, St. John & Wayne, L.L.C., in the form of Exhibit F, attached hereto, dated the Effective Date; and 
 (d) deliver to Senetek certified copies of the resolutions of the Board of Directors of Ranbaxy authorizing the execution and delivery of this Agreement and the transactions contemplated hereby. 
  

 14 

 4. PERFORMANCE AFTER THE EFFECTIVE DATE 
 4.1 Product Development and Regulatory Approvals. Commencing promptly after the Effective Date, Ranbaxy shall use Commercially Reasonable Efforts in the development and commercialization of the Products in the
United States, including (i) the transportation and installation of the Reliaject Equipment and related materials and supplies to an appropriate contract manufacturing facility (the location and particulars of which shall be disclosed to
Senetek prior to such installation) and commercial validation of the manufacturing processes for production of the Epinephrine Product in compliance with Section 4.2, (ii) submission of a full and complete ANDA filing, or equivalent, to
the FDA for the Reliaject Device pre-filled with epinephrine for the emergency treatment of anaphylaxis, and (iii) establishment of a marketing and distribution program complying with Section 4.3 for commercialization of the Products in
the United States. Notwithstanding the foregoing, however, should an Interfering Event exist or otherwise arise prior to Ranbaxy’s development of the Products (whether existing as of the Effective Date or arising prior to or during the
development, promotion, sale or distribution of the Products), which materially restricts or impairs Ranbaxy’s ability to develop the Products’ ANDAs, Ranbaxy may delay or suspend the development, manufacture, sale, promotion and/or
distribution of the Products until the Interfering Event no longer has such material effect. For purposes of this Section 4.1, an “Interfering Event” shall include (a) any decision, order, decree, ruling, etc., of any court,
legislative, governmental or administrative body, or any regulatory changes affecting the development, sale, use, distribution and or marketing of the Products; (b) any pending claim that the products or any intellectual property used by
Senetek in the development or manufacture of such Product infringes any intellectual property rights of any Third Party. Notwithstanding the foregoing, if Ranbaxy receives notice of a threatened claim by a Third Party of any Intellectual Property
infringement relating to the Products, Ranbaxy shall notify Senetek to discuss its potential effect on the Assets and the Intellectual Property. Nothing in this Section 4.1 shall impair or otherwise restrict Ranbaxy’s right of termination
as provided in Sections 6.2 and 6.3 hereof. In addition, Senetek acknowledges and agrees that Ranbaxy does not warrant or covenant that the Products will be submitted for applicable regulatory approval (including, without limitation, an ANDA with
the FDA), receive applicable regulatory approval (including, without limitation, approval for an applicable Product ANDA from the FDA) or be successfully marketed or commercialized. 
 4.2 Manufacturing. Ranbaxy shall, and shall cause any contract manufacturer(s) to, manufacture the Products in accordance with cGMPs promulgated
by the FDA and pursuant to the DMF and/or the procedures filed with the FDA (and any other Regulatory Authorities) via an ANDA or other marketing approval or exemption. Ranbaxy shall be responsible for the validation of all manufacturing processes
and processing systems and shall establish programs for change control for the validated process, systems, and computer systems. Ranbaxy shall assure that the Products, at the time of shipment, shall not be adulterated or misbranded within the
meaning of the FDC Act, as such FDC Act is constituted and effective at the time of shipment, and shall not be articles which may not under the provisions of Sections 404 and 505 of such FDC Act be introduced into interstate commerce. At any time
during the Term of this 
  

 15 

 Agreement, Ranbaxy shall permit Senetek’s representatives to inspect, upon fifteen (15) days’ prior Notice
and during normal business hours (but in no event more than once per calendar year), Ranbaxy’s and its contract manufacturer(s)’ facilities where the Product is manufactured or stored to review Ranbaxy’s compliance with this
Section 4.2, including review of all batch records pertaining to production of Devices and Products and all other regulatory compliance documentation. In the event such representatives conclude that any non-conformity with this Agreement is
continuing, the Parties, in addition to any other rights or remedies available to such Parties, shall use their respective diligent efforts to resolve the issue as promptly as possible. In addition, Ranbaxy shall promptly notify Senetek of any
inspection by the FDA or any other Regulatory Authorities of any facility where the Product is manufactured or stored where such inspection could result in an adverse effect on the Product, and provide a summary of the results of that inspection and
corrective actions taken or to be taken. 
 4.3 Sales and Marketing. During the term of this Agreement, Ranbaxy shall use Commercially
Reasonable Efforts to promote, sell and distribute the Products within the Territory, with initial emphasis on the United States and subject to the receipt of approval from an applicable Regulatory Authority to manufacture, market, sell and/or
distribute the applicable Product in such country of the Territory. Furthermore, Ranbaxy agrees that it shall use Commercially Reasonable Efforts to satisfy the demand for the Products throughout the Territory. Subject to the foregoing, Ranbaxy
shall control and make all decisions regarding the strategy and tactics of marketing, selling and otherwise commercializing the Products hereunder, including, without limitation, the methods of sale and distribution, organization and management of
sales and marketing, packaging and labeling, appointment of distributors hereof, and other terms and conditions of such sales and marketing, and shall exercise Commercially Reasonable Efforts in such regard. Ranbaxy shall have the right to take into
consideration commercial and business factors when making any such determination, and in making such determinations, shall act in accordance with its reasonable business practices and judgment in such regard and in a manner consistent with which
Ranbaxy evaluates for commercialization other Ranbaxy products of comparable market size in the Territory. Upon the First Commercial Sale of the Products in the Territory, Ranbaxy, either itself or through its Affiliates, distributors or
sublicensees, shall market, distribute and sell the Products in the Territory under the Ranbaxy label to the extent reasonable in light of the size of the market and potential market for the Products and in a manner consistent in which it markets
other Ranbaxy products of comparable market size in the Territory. 
 4.4 Adverse Experience Reporting. Ranbaxy shall report to
Senetek any information of which it obtains knowledge concerning any adverse drug experience in connection with the use of the Products, including the incidence or severity thereof, whether the same is associated with non-clinical toxicity studies,
clinical uses, studies, investigations or tests. Reports of routine adverse drug experiences of the type defined in Section 214.80 of Title 21 of the CFR shall be provided by Ranbaxy on a Calendar Quarter basis. Reports of serious adverse drug
experiences of the type defined in Sections 312.32 and 314.80 of Title 21 of the CFR shall be provided by Ranbaxy within five (5) days after a Party becomes aware of such serious adverse drug experience. Notwithstanding the foregoing, Ranbaxy
shall control the process of reporting of adverse drug experiences of the type specified above, including, without limitation, sole communication and/or correspondence with the applicable governmental agency. 
  

 16 

 4.5 Maintenance of Assets. Subject to Sections 6.2 and 6.3, Ranbaxy shall use Commercially
Reasonable Efforts to maintain all of the Reliaject Equipment in good operating condition and repair. Promptly following the Effective Date, Ranbaxy will take all actions required to record and register the transfer and assignment into
Ranbaxy’s name of the Patents and Trademarks, and shall maintain the Patents and Trademarks in good standing, including without limitation by timely payment of all renewal fees and the filing of affidavits of use or other documentation required
therefore, and shall furnish to Senetek upon its request reasonable evidence of its compliance therewith. 
 4.6 Production of the
Reliaject Device Pre-filled with Invicorp. Subject to any regulatory or other third party restrictions (for which Ranbaxy shall have no responsibility), Ranbaxy agrees to negotiate in good faith with the licensees or other acquirer(s) of
Senetek’s rights to its erectile dysfunction treatment Invicorp® in Europe, the United States or elsewhere, including, without limitation, Ardana pursuant to the Ardana License, for Ranbaxy to contract manufacture the Reliaject Device pre-filled with Invicorp for such licensees and
other acquirer(s). Unless otherwise agreed between Ranbaxy and Ardana, the Ardana License will be on a basis (i) reimbursing all of Ranbaxy’s fully absorbed manufacturing costs, including direct costs of manufacture (including labor,
materials, tools, dies, molds, downtime for retooling and other overhead) and reasonable overhead allocation, plus a profit margin, which in no event shall be less than Ranbaxy’s average fully loaded net profit margin on sales of Epinephrine
Products from time to time, and (ii) permitting Ranbaxy preferential treatment for its own production of Products in terms of scheduling available plant capacity. Notwithstanding the foregoing, Ranbaxy shall be under no obligation to expand
plant capacity beyond its then current production. 
 4.7 Conduct of Reliaject Trademark Opposition. Senetek shall use Commercially
Reasonable Efforts to defend against the Opposition proceeding involving the United States application for the Reliaject trademark referred to in Schedule 2.2.7 until such time, if any, as it shall be advised by its counsel of record that it is more
likely than not that the Opposition will be successful. If Senetek shall be so advised, it shall give Notice to Ranbaxy within ten (10) days of receipt of such advice, and Ranbaxy shall then have thirty (30) days in which to give Notice to
Senetek that it will assume control and defense thereof, as well as the satisfaction of all fees and expenses, if any, of such action. If Ranbaxy shall not give such Notice, Senetek shall be free to discontinue or settle such proceeding in its sole
discretion. Subject to Senetek’s compliance with this Section 4.7, Ranbaxy waives any claim against Senetek based upon such proceeding or the outcome thereof, including any claim for damages or compensation for loss of the Reliaject
trademark. 
 4.8 Suspension of Certain Performance Obligations. If at any time during the Term, an Interfering Event should arise or
exists which restricts or impairs Ranbaxy’s ability to develop, market, distribute and/or commercialize the Products, Ranbaxy may delay or suspend the development or commercialization of the Products until the Interfering Event ceases to
materially adversely effect such development, marketing, distribution and/or commercialization; provided that if the performance so suspended materially affects Ranbaxy’s covenants under Section 4.1 or 4.3 and the period of such
suspension exceeds twenty-four (24) months, then unless the parties mutually agree in writing to the contrary, Senetek shall have the same rights as if it had terminated this Agreement pursuant to Section 6.2 and Ranbaxy shall have the
same rights as if it had terminated this Agreement pursuant to Section 6.3. 
  

 17 

 5. CONFIDENTIALITY. 
 5.1 Confidential Treatment. Any Party receiving any Confidential Information (a “Receiving
Party”) from the other Party (a “Disclosing Party”) in connection with the execution, delivery and performance of this Agreement agrees that all such Confidential
Information (i) shall not be used by the Receiving Party except in connection with the activities contemplated by this Agreement or in order to further the purposes of this Agreement, (ii) shall be maintained in confidence by the Receiving
Party and (iii) shall not be disclosed by the Receiving Party to any Third Party who is not a consultant of, or an advisor to, the Receiving Party or an Affiliate or sublicensee of the Receiving Party, without the prior written consent of the
Disclosing Party. 
 5.2 Exceptions. The obligations of confidentiality and non-use set forth in Section 5.1 shall not
apply to any such Confidential Information which: 
 5.2.1 either before or after the date of the disclosure to the Receiving Party becomes
published or otherwise part of the public domain through no fault or omission on the part of the Receiving Party or its Affiliates; 
 5.2.2
either before or after the date of the disclosure to the Receiving Party is lawfully disclosed to the Receiving Party or its Affiliates by sources other than the Disclosing Party rightfully in possession of the Confidential Information and without
restriction as to confidentiality or use; 
 5.2.3 was known or used by the Receiving Party or its Affiliates prior to its date of disclosure
to the Receiving Party as demonstrated by legally admissible evidence available to the Receiving Party or its Affiliates; 
 5.2.4 is
independently developed by or for the Receiving Party or its Affiliates without reference to or in reliance upon the Disclosing Party’s Confidential Information as demonstrated by competent written records; or 
 5.2.5 is required to be disclosed under applicable laws or regulations or by an order by a court or other regulatory body having competent jurisdiction;
provided, however, that except where impracticable, the Receiving Party shall give the Disclosing Party reasonable advance Notice of such disclosure requirement (which shall include a copy of any applicable subpoena or order) and shall
cooperate with the Disclosing Party to oppose, limit or secure confidential treatment for such required disclosure. In the event of any such required disclosure, the Receiving Party shall disclose only that portion of the Confidential Information of
the Disclosing Party that the Receiving Party is legally required to disclose. 
 5.3 Term of Obligation. The obligations of the
Parties under this Article 5 shall continue for a period of five (5) years after the expiration or earlier termination of the Term of this Agreement. 
  

 18 

 5.4 Return of Materials. Except as otherwise provided in Section 6.3, upon expiration or
termination of this Agreement, the Receiving Party shall return to the Disclosing Party all Confidential Information of the Disclosing Party that the Receiving Party possesses in tangible form and shall return to the Disclosing Party, or destroy, at
the Disclosing Party’s request, all Confidential Information of the Disclosing Party that the Receiving Party possesses in electronic form. Notwithstanding the foregoing, each Party may retain one copy of all Confidential Information provided
by the other Party solely for archival and legal purposes. 
 6 TERM AND TERMINATION 
 6.1 The Term. The term of Ranbaxy’s obligation the pay the amounts provided for in Section 3.2 and to comply with Article 4 (the
“Term”), shall expire fifteen (15) years from the date of its First Commercial Sale of the applicable Product unless a Competing Product shall be marketed or sold in the United States, in which event such fifteen (15) year
period shall be reduced to ten (10) years from the date of its First Commercial Sale, and provided further that, without limiting the provisions of Sections 4.1, 4.3 and 4.7, Ranbaxy’s obligation to pay the amounts provided for in
Section 3.2 shall be suspended during the existence of an Interfering Event or the effectiveness of any order of a court of competent jurisdiction binding upon Ranbaxy (which order has become final on appeal or the time to appeal has expired)
enjoining Ranbaxy from manufacturing and marketing the Products (it being agreed that Ranbaxy shall give Senetek prompt Notice of any such threatened or pending injunctive proceedings). 
 6.2 Termination for Cause. Either Party (the “Non-breaching Party”) may, without prejudice to any other remedies available to it
at law or in equity, terminate this Agreement in the event the other Party (the “Breaching Party”) shall have (i) materially breached any of its representations set forth in Article 2 or (ii) materially breached or
defaulted in the performance of any of its material obligations under this Agreement and (if curable) such material breach or default in performance shall have continued for sixty (60) days after Notice thereof was provided to the Breaching
Party by the Non-breaching Party (or, if such curable default cannot be cured within such sixty (60)-day period, if the Breaching Party does not commence and diligently continue actions to cure such default during such sixty (60)-day period and
effect such cure within a reasonable period). Any such termination shall become effective at the end of such sixty (60)-day or longer reasonable period unless the Breaching Party has cured any such breach or default prior to the expiration of such
period. 
 6.3 Termination by Ranbaxy. Ranbaxy may terminate this Agreement in the event that Ranbaxy, notwithstanding compliance with
its obligations pursuant to Sections 4.1 and 4.2, fails to secure an ANDA or equivalent approval of the FDA for the Epinephrine Product for the emergency treatment of anaphylaxis within twenty four (24) months after its submission of a full and
complete ANDA or equivalent application. Ranbaxy shall give Senetek sixty (60) days Notice of any determination to terminate pursuant to this Section 6.3 and will meet and confer with Senetek prior to effecting such termination.

 6.4 Disposition of the Assets in Certain Events. In the event that Ranbaxy terminates this Agreement pursuant to Sections 6.3, or
Senetek terminates this Agreement pursuant to 
  

 19 

 Section 6.2 based on Ranbaxy’s breach of its obligations contained in Article 4 herein, Ranbaxy and Senetek
shall discuss and agree upon a mutually acceptable plan for the utilization and/or disposition of the Assets, provided, however, that in the case of a termination of this Agreement by Ranbaxy pursuant to Section 6.3, if the
parties are unable to reach agreement with respect to a plan for utilization and/or disposition of the Assets, the Assets shall be disposed of to the highest bidder and the proceeds of disposition shall be divided evenly between Ranbaxy and Senetek,
provided further that this Section 6.4 shall not apply if Ranbaxy fails to make a payment to Senetek pursuant to Section 3.3 in a timely manner. 
 7. ASSIGNMENT AND BINDING EFFECT. Neither this Agreement, nor any obligations or rights hereunder, shall be assignable by any Party hereto without the prior written consent of the other Party. Notwithstanding the above either Party may
assign this Agreement, or any obligations or rights hereunder, in whole or in part, without the consent of the other Party to its Affiliates, if the assigning Party guarantees the full performance of its Affiliates’ obligations hereunder, or in
connection with the sale or transfer of all or substantially all of its assets relating to this Agreement, whether by merger, sale of stock, operation of law or otherwise. Ranbaxy may subcontract any obligations under this Agreement, in whole or in
part, without the consent of the other Party, if the subcontracting Party agrees to the full performance of its subcontractors, and such subcontractor agrees to be bound by the obligations of confidentiality and non-use set forth in Article 5 of
this Agreement. Any purported assignment in contravention of this Article 7 shall, at the option of the non-assigning Party, be null and void and of no effect. 
 8. INDEMNIFICATION. 
 8.1 Indemnification by Ranbaxy. Ranbaxy shall indemnify and hold Senetek and its directors, officers,
shareholders, employees, servants and agents harmless from and against any and all liabilities, claims, demands, actions, suits, losses, damages, costs and expenses (including reasonable attorney’s fees and disbursements, but excluding any
anticipated or actual lost profits or revenues or other special, indirect, incidental or consequential damages), resulting (i) from Ranbaxy’s manufacturing, handling, storage, promotion, use, marketing, distribution or sale of the
Products, or (ii) from Ranbaxy’s negligence, willful misconduct or breach of this Agreement (including, without limitation, of the representations and warranties hereunder); except to the extent caused by Senetek’s negligence or
willful misconduct or its breach of this Agreement (including, without limitation, of the representations and warranties hereunder). 
 8.2
Indemnification by Senetek. Senetek shall indemnify and hold Ranbaxy and its directors, officers, shareholders, employees, servants and agents harmless from and against any and all liabilities, claims, demands, actions, suits, losses,
damages, costs and expenses (including reasonable attorney’s fees and disbursements, but excluding any anticipated or actual lost profits or revenues or other special, indirect, incidental or consequential damages), resulting from
(i) Senetek’s breach of this Agreement (including, without limitation, of the representations and warranties hereunder) or (ii) any Excluded Liability; except to the extent caused by Ranbaxy’s negligence or willful misconduct or
its breach of this Agreement (including, without limitation, of the representations and warranties hereunder). Ranbaxy shall be entitled to set off against any amounts due and payable by it to Senetek hereunder any amounts which Senetek is
contractually obligated to pay to Ranbaxy pursuant to this Section 8.2. 
  

 20 

 8.3 Procedure. In the event that any person entitled to indemnification under this Article 8 (an
“Indemnitee”) is seeking such indemnification, such Indemnitee shall send Notice to the other Party (the “Indemnitor”) of the claim as soon as reasonably practicable after such Indemnitee receives notice of
such claim, shall permit the Indemnitor to assume direction and control of the defense of the claim (including the sole right to settle it at the sole discretion of the Indemnitor, provided that such settlement provides for the unconditional release
of the Indemnitee and does not impose any obligation on the Indemnitee or the other Party) and shall cooperate as requested (at the expense of the Indemnitor) in the defense of the claim. 
 8.4 Complete Indemnification. As the Parties intend complete indemnification, all costs and expenses incurred by an Indemnitee in connection with
enforcement of this Article 8 shall also be reimbursed by the Indemnitor. 
 8.5 DISCLAIMER. NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED HEREIN, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL OR CONTINGENT DAMAGES OR EXPENSES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOST PROFITS, LOSS OF OPPORTUNITY OR USE OF ANY KIND SUFFERED BY THE
OTHER PARTY, WHETHER IN CONTRACT, TORT OR OTHERWISE, OR ARISING OUT OF, CONNECTED WITH OR RESULTING FROM THE PERFORMANCE OF THEIR RESPECTIVE OBLIGATIONS UNDER THIS AGREEMENT OR OUT OF THE USE OR SALE OF THE ASSETS OR THE PRODUCTS. 
 9. INSURANCE. 
 Each Party shall use Commercially Reasonable
Efforts to maintain insurance (including general and product liability coverage) and upon such terms (including coverages, deductible limits and self-insured retentions) as is customary for the activities to be conducted by it under this Agreement
and is appropriate to cover its indemnification obligations hereunder. In satisfaction of its obligation under this Article 9, Senetek shall maintain for the entire Term of this Agreement liability insurance coverage of *** per occurrence/*** annual
aggregate and Ranbaxy shall maintain for the entire Term of this Agreement product liability coverage for the Products of not less than *** per occurrence/*** annual aggregate and property casualty coverage on the Reliaject Equipment of not less
than *** per occurrence. Each Party shall be named as an additional insured under the other Party’s policies with respect to claims arising out of the manufacture, use or sale of Product or otherwise under this Agreement. Each Party shall
furnish to the other Party evidence of such insurance, upon request. 
 10. ARBITRATION. 
 Any dispute arising out of or relating to any provisions of this Agreement shall be finally settled by arbitration to be held in Newark, New Jersey, under
the auspices and then current Commercial Arbitration Rules of the American Arbitration Association (the “AAA”). The 
 ***
Confidential treatment has been requested 
  

 21 

 arbitration shall be conducted by one arbitrator who is knowledgeable in the subject matter which is at issue in the
dispute and who is selected by mutual agreement of the Parties or, failing such agreement, shall be selected according to the AAA rules. The Parties shall have such discovery rights as the arbitrator may allow, but in no event broader than that
discovery permitted under the Federal Rules of Civil Procedure. In conducting the arbitration, the arbitrator(s) shall apply the New Jersey Rules of Evidence and shall be able to decree any and all relief of an equitable nature, including but not
limited to such relief as a temporary restraining order, a preliminary injunction, a permanent injunction, or replevin of property, as well as specific performance. The arbitrator(s) shall also be able to award direct damages but shall not award any
other form of damages (e.g., consequential, punitive or exemplary damages). The reasonable fees and expenses of the arbitrator(s), along with the reasonable legal fees and expenses of the Parties (including all expert witness fees and expenses), the
fees and expenses of a court reporter, and any expenses for a hearing room, shall be paid as follows: (i) if the arbitrator(s) rule in favor of one Party on all disputed issues in the arbitration, the losing Party shall pay *** of such fees and
expenses; if the arbitrator(s) rule in favor of one Party on some issues and the other Party on other issues, the arbitrators shall issue with the rulings a written determination as to how such fees and expenses shall be allocated between the
Parties. The decision of the arbitrators shall be final and may be entered, sued on or enforced by the Party in whose favor it runs in any court of competent jurisdiction at the option of such Party. Whether a claim, dispute or other matter in
question would be barred by the applicable statute of limitations, which statute of limitations also shall apply to any claim or disputes subject to arbitration under this Article 10, shall be determined by binding arbitration pursuant to this
Article 10. Notwithstanding the foregoing, nothing contained herein shall prohibit a Party from seeking injunctive relief from a court of competent jurisdiction in the event of a breach or prospective breach of this Agreement by the other Party
which would cause irreparable harm to the non-breaching Party. 
 11. FORCE MAJEURE. 
 Any delay in the performance of any of the duties or obligations of either Party hereto (except the payment of money due hereunder) shall not be
considered a breach of this Agreement, and the time required for performance shall be extended for a period equal to the period of such delay, if such delay has been caused by or is the result of acts of God; acts of public enemy; insurrections;
riots; injunctions; embargoes; labor disputes, including strikes, lockouts, job actions, or boycotts; fires; explosions; floods; shortages of material or energy; governmental prohibition or restriction; the unavailability of active raw material that
is being supplied by Third Parties; or other unforeseeable causes beyond the reasonable control and without the fault or negligence of the Party so affected. The Party so affected shall give prompt notice to the other Party of such cause, and shall
take whatever reasonable steps are necessary to relieve the effect of such cause as rapidly as reasonably possible. 
 12. NOTICES. 
 Any notice or communication required or permitted to be given under or in connection with this Agreement (a “Notice”) shall be deemed to have
been sufficiently given if in writing and personally delivered or sent by certified mail (return receipt requested), facsimile 
  

 22 

 transmission (receipt verified), or overnight express courier service (signature required), prepaid, to the Party for
which such notice is intended as follows: 
  

					
	(i) If to Ranbaxy, to:	 	Ranbaxy Pharmaceuticals Inc.
		 	9431 Florida Mining Boulevard
		 	Jacksonville, Florida 32257
		 	Attention:	  	Vice President
		 	Facsimile:	  	(904) 880-9645
		 	Telephone:	  	(904) 470-6000
		
	With a copy to:	 	Ranbaxy Inc.
		 	600 College Road East
		 	Princeton, New Jersey 08540
		 	Attention:	  	President
		 	Facsimile:	  	(609) 720-1155
		 	Telephone:	  	(609) 720-9200
		
	(ii) If to Senetek, to:	 	Senetek PLC
		 	831 Latour Court
		 	Napa, California 94558
		 	Attention: Frank J. Massino
		 	Facsimile: 707-259-6241
		 	Telephone: 707-226-3900

 or to such other address as the addressee shall have last furnished in writing to the addressor; such Notice shall
be effective upon receipt by the addressee. If delivered personally or by facsimile transmission, the date of delivery shall be deemed to be the date on which such notice or request was given. If sent by overnight express courier service, the date
of delivery shall be deemed to be the next business day after such notice or request was deposited with such service. If sent by certified mail, the date of delivery shall be deemed to be the third (3rd) business day after such notice or
request was deposited with the U.S. Postal Service. 
 13. BOOKS AND RECORDS. 
 Any books and records to be maintained under this Agreement by a Party or its Affiliates shall be maintained in the continental United States, and any such financial books and records shall be prepared in accordance
with GAAP, consistently applied. 
 14. GOVERNING LAW. 
 This Agreement shall be governed by the laws of the State of New York, in all respects of validity, construction and performance thereof, without regard to principles of conflicts of law. 
  

 23 

 15. MISCELLANEOUS. 
 15.1 Relationship of Parties. Nothing in this Agreement is intended or shall be deemed to constitute a partnership, agency, employer-employee or joint venture relationship between the Parties. No Party shall incur any debts or make
any commitments for the other, except to the extent, if at all, specifically provided herein. 
 15.2 Further Actions. Each Party
shall execute, acknowledge and deliver such further instruments, and do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 
 15.3 Use of Name; Publicity. Except as otherwise provided herein, (i) neither Party shall have any right, express or implied, to use in any
manner the name or other designation of the other Party or any other trade name, trademark or logos (including the Trademark) of the other Party for any purpose in connection with the performance of this Agreement; and (ii) neither Party shall
make any public announcement concerning this Agreement or the subject matter hereof without the prior written consent of the other Party; provided however, that nothing in this Section 15.3 shall prevent either Party from issuing
statements that such Party determines to be necessary to comply with applicable law (including the disclosure requirements of the U.S. Securities and Exchange Commission, NASDAQ or any other stock exchange on which securities issued by such Party
are traded), and provided further that the parties agree that on the Effective Date a press release in the form annexed as Schedule 15.3 shall be issued. 
 15.4 Waiver. A waiver by either Party of any of the terms and conditions of this Agreement in any instance shall not be deemed or construed to be a waiver of such term or condition for the future, or of any
subsequent breach hereof. All rights, remedies, undertakings, obligations and agreements contained in this Agreement shall be cumulative and none of them shall be in limitation of any other remedy, right, undertaking, obligation or agreement of
either Party. 
 15.5 Severability. When possible, each provision of this Agreement will be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. 
 15.6 Amendment. No amendment, modification or supplement of any provisions of this
Agreement shall be valid or effective unless made in writing and signed by a duly authorized officer of each Party. 
 15.7 Entire
Agreement. This Agreement together with the schedules and exhibits hereto, sets forth the entire agreement and understanding between the Parties as to the subject matter hereof and merges all prior discussions and negotiations between them, and
neither of the Parties shall be bound by any conditions, definitions, warranties, understandings or representations with respect to such subject matter other than as expressly provided herein or as duly set forth on or subsequent to the date hereof
in writing and signed by a proper and duly authorized officer or representative of the Party to be bound thereby. 
  

 24 

 15.8 Parties in Interest. All of the terms and provisions of this Agreement shall be binding upon,
inure to the benefit of and be enforceable by the Parties hereto and their respective permitted successors and assigns. 
 15.9
Descriptive Headings. The descriptive headings of this Agreement are for convenience only, and shall be of no force or effect in construing or interpreting any of the provisions of this Agreement. 
 15.10 Counterparts. This Agreement may be executed simultaneously in any number of counterparts, any one of which need not contain the signature
of more than one Party but all such counterparts taken together shall constitute one and the same agreement. 
 [The remainder of this page
left intentionally blank] 
  

 25 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly
authorized representative as of the Effective Date. 
  

									
	RANBAXY PHARMACEUTICALS INC.	 		 	SENETEK PLC
					
	By:	 	 /s/ James Meehan
	 		 	By:	 	 /s/ Frank J. Massino

	Name:	 	James Meehan	 		 	Name:	 	Frank J. Massino
	Title:	 	Vice President – Sales, Marketing and Distribution	 		 	Title:	 	Chairman and Chief Executive Officer

  

 26 

 Schedule 1.12 
 The Devices 
 A. The Reliaject Device 
 An automatic medicament injector employing a non-coring needle having side port geometry optimized to minimize or eliminate the coring of a rubber seal or
septum when impaled by the internal needle tip of the cannula, fitted with a 27g needle and used for an epinephrine injection for allergic emergencies (anaphylaxis), 1 mg/mL (subcutaneous auto-injection), delivering 0.3 mg epinephrine. 

 
 B. The OM Device—Autoject Mini for Epinephrine 
 An automatic medicament injector designed as a reusable device for use with a BD Hypak 1.0 ml long glass syringe, with a fixed 27g x  1/2” needle and a soft needle shield, to be used for an epinephrine injection for allergic emergencies
(anaphylaxis,. The device is designed to produce an extended needle length of 10mm +/- 1.5mm beyond the end of the syringe housing, and will deliver a dose of 0.3ml +/-10%. 
 

 
  

 27 

 SCHEDULE 1.31 
 THE PATENTS 
  

															
	 Country
	  	Patent No.	  	Filing Date	  	Issue Date	  	 Title
	  	Expires	  	Status	  	Note
	 Argentina
	  	253898	  	10/4/1993	  	01/11/00	  	Med Injector/Methods	  	01/11/15	  	Granted	  	
	 Australia
	  	671322	  	9/30/1993	  	12/10/96	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Canada
	  	2125179	  	9/30/1993	  		  	Med Injector/Methods	  	09/30/13	  	Pending	  	
	 China
	  	93118246.8	  	10/5/1993	  		  	Med Injector/Methods	  	10/05/08	  	Pending	  	
	 Denmark
	  	0616541	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Egypt
	  	20095	  	10/4/1993	  	07/31/97	  	Med Injector/Methods	  	10/04/08	  	Granted	  	
	 France
	  	0616541	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Germany
	  	69322249.2	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Ireland
	  	0616541	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Israel
	  	107038	  	9/20/1993	  	07/16/97	  	Med Injector/Methods	  	09/20/13	  	Granted	  	
	 Italy
	  	0616541	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Japan
	  	509348/94	  	9/30/1993	  		  	Med Injector/Methods	  		  	Pending	  	
	 Kuwait
	  	77PA/93	  	9/29/1993	  		  	Med Injector/Methods	  		  	Pending	  	
	 Malaysia
	  	MY-109675	  	10/1/1993	  	04/30/97	  	Med Injector/Methods	  	04/30/11	  	Granted	  	
	 Mexico
	  	187163	  	10/4/1993	  	11/28/97	  	Med Injector/Methods	  	10/04/13	  	Granted	  	
	 New Zealand
	  	256977	  	9/30/1993	  	12/10/96	  	Med Injector/Methods	  	09/30/09	  	Granted	  	
	 Phillipines
	  	31811	  	10/4/1993	  	02/02/99	  	Med Injector/Methods	  	10/04/13	  	Granted	  	
	 Saudi Arabia
	  	94032104	  	12/29/1993	  		  	Med Injector/Methods	  		  	Pending	  	
	 South Korea
	  	317900	  	9/30/1993	  	12/05/01	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Spain
	  	0616541	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Syria
	  	4512	  		  		  	Med Injector/Methods	  	10/03/08	  	Pending	  	
	 Taiwan
	  	069424	  	10/2/1993	  	12/21/94	  	Med Injector/Methods	  	10/02/13	  	Granted	  	
	 Turkey
	  	27115	  	10/4/1993	  	11/08/94	  	Med Injector/Methods	  	10/04/08	  	Granted	  	
	 UK
	  	0616541	  	9/30/1993	  	11/25/98	  	Med Injector/Methods	  	09/30/13	  	Granted	  	
	 Uruguay
	  	23661	  	10/5/1993	  		  	Med Injector/Methods	  	10/05/13	  	Pending	  	
	 Venezuela
	  	1-1507-93	  	10/4/1993	  		  	Med Injector/Methods	  	10/04/13	  	Granted	  	
	 U.S.
	  	5,354,287
MUST BE IN
ALL
FOREIGN
COUNTRIES	  	33,254	  	10/11/94	  	 Program Auto
 Injector/Vial w Retract
 Needle
	  	10/11/13	  	Granted	  	54791
App 956,952
incorporated
	 U.S.
	  	5,709,668
MUST BE
RETAINED
IN US	  	34,856	  	01/20/98	  	 Auto Med Injector
 Employ NonCoring
 Needle
	  	06/06/15	  	Granted	  	

  

 28 

 SCHEDULE 1.36 
 THE RELIAJECT EQUIPMENT 
  

					
	 Machine
	 	 Specifications
	  	Model No
	 Automated Powerpak Assembly Machine
 Acro Automation
Systems
	 	 Overall dimen.: 25’ long x 13’ wide x 10’ high
 Power: 230V, 50Hz, 3 phase
 Air Supply: 85 PSI
 Production rate: 30 per minute
	  	98-2121
			
	 Automated Final Assembly Machine
 EAM
	 	 Overall dimen.: 72” long x 34” deep x 72” high
 Power: 110V, 60 Hz
 Production rate: 60 per minute
	  	60PPCNA
			
	 Automated Needle Case Assembly Machine
 Sortimat
	 	 Overall dimen.: 24’ long x 14’ wide x 8’ high
 Power: 208V, 60 Hz, 3 phase
 Air supply: 85 PSI
 Production rate: 30 per minute
	  	M10-1593/1594
			
	 Manual Powerpak Assembly Equipment
 EAM
	 	 Overall dimen.: All pieces of equipment will fit within a 6’ x 12’ area
 Power: 110V, 60 Hz
 Air: 85 PSI
 Production rate 4,000/8 hr shift—8 operators
	  	
			
	 Manual Powerpak/Cartridge Assembly Machine
 EAM
	 	 Overall dimen.: 34” long x 36” deep x 53” high
 Power: 110V/220V, 60/50 Hz
 Production rate: Variable-set to operator speed
	  	30PPCA
			
	 Manual Final Assembly Machine
 EAM
	 	 Overall dimen.: 34” long x 36” deep x 53” high
 Power: 110V, 60 Hz
 Production rate: Variable-set to operator speed
	  	30PPNA
			
	 Wrap Labeling System
 CCL Labeling
Equipment
	 	 Overall dimen.: 96” long x 46” deep x 84” high
 Power: 115V, 60 Hz, single phase, 20A
 Air: 80 PSI, 2 SCFM
 Production rate: 60 per minute
	  	330
			
	 Custom Pouching Machine
 Eclipse Automation
Corp.
	 	 Overall dimen.: 64” long x 48” deep x 54” high
 Power: 110V, 60 Hz
 Compressed air-60 PSI
 Production
rate: Variable-set to operator speed
	  	
			
	 Automated Cartridge Filler
 EAM
	 	 Overall dimen.: 73” long x 38” deep x 62” high
 Power: 220V, 60 Hz, 3 phase, 20A
 Production rate: 60 per minute
	  	C60 FSC
			
	 Cartridge Inspection Machine
 EAM
	 	 Overall dimen.: 92” long x 28” deep x 62” high
 Power: 110V, 60 Hz, 20A
 Production rate: 60 per minute
	  	S1120
			
	 Cartridge Inspection Machine
 Seidenader
	 	 Overall dimen.: 96” long x 68” deep x 72” high
 Power: 230V, 50 Hz, single phase
 Compressed Air: 80 PSI, oil and water free
 Production rate: Variable up to 9,000/hr-dependent on operator speed
	  	V90-AVSB/60
			
	 Lab Cartridge Capping Machine
 EAM
	 	 Overall dimen.: 36” long x 36” deep x 60” high
 Power: 220V, 60 Hz, 3 phase, 20A
 Production rate: n/a
	  	C60C
			
	 Needle Processing Machine
 Sortimat
	 	 Overall dimen.: 13’ long x 12’ deep x 8’ high
 Power: 208V, 60 Hz, 3 phase
 Air: 80 PSI
 Production
rate: 30/minute
	  	

  

 29 

					
			
	 Company
	 	 Machine/Component/Inventory Description
	  	Quantities
	 APR, Inc.
	 	Thermal Printmaster w/out auto tray	  	
		 	Labelview Software	  	
		 	Pouchmaster Packaging System	  	
			
	Acro	 	Washer Feeder Bowl	  	
		 	Safe Pin Feeder Bowl	  	
		 	Half Collet Feeder Bowl	  	
		 	Spring Feeder Bowl	  	
		 	Cap Feeder Bowl	  	
		 	Full Collet Feeder Bowl	  	
		 	Housing Feeder Bowl	  	
		 	Feeder Bowl/Inlines	  	
			
		 	Vision Monitor w/ CE Marking	  	
		 	50h Generator Rental	  	
		 	Auto Shrink Bander for Safe Pin	  	
			
	CED	 	4-up Firing Cap Assembly Press	  	
		 	4-up Powerpak Assembly Press	  	
		 	4-up Pneumatic Powerpak Assembly Press	  	
		 	1/8 NPT x 5/32 Speed Control Valves	  	
			
	CTP Plasro	 	Powerpak Housing 8 Impression Mold	  	
			
	EAM	 	Washer Insert Machine Mods	  	
		 	Repl Parts & Frght 220v coils & controller	  	
		 	Repl/Spare Parts Inspection Machine	  	
		 	Feeder for Needle Case Assembly	  	
			
	K. Wilson	 	Beseler Shrink Tunnel Conveyor Belt	  	
			
	SFM	 	End Caps 1008	  	500,000
		 	Needle guide 1004	  	510,000
		 	Gripper 1001	  	290,000
		 	Needle Housing 1005	  	510,000
		 	Stopper 1003	  	275,000
		 	29g Messing Hubs	  	440,000
		 	27g Messing Hubs	  	506,000
		 	2 Cavity Injection Mold, Part #1005-70	  	
			
	Sortimat	 	Laser Head Mods	  	
		 	Hub Check Station	  	
		 	Needle Length Check—Pull Station	  	
		 	Needle Length Check—Guide Assembly	  	
		 	Stopper Bowl Feeder Hopper	  	
		 	Add’l Auto Vision System @ Sta. 14	  	
			
	Spectrum	 	8-Cavity Mold, 1001-10	  	
		 	Insert Needle Guide, 1004-1C	  	
		 	Ampoule Case, 1005-1E	  	
		 	Ampoule Case, 1008-1E	  	
		 	Des & Bld 8-Cavity Mold, 1101-1G	  	
		 	Des & Bld 8-Cavity Mold, 1102-1F	  	
		 	D & B 8-Cavity Mold, 1106-1G	  	
		 	D & B 8-Cavity Mold, 1107-1C	  	
		 	D & B 8-CAvity Mold, 1108-1C	  	
		 	Injector Case/Powerpak Housing, TP-396	  	
		 	Injector Case, 1106	  	
		 	8-Cavity Mold for Needle Guide 1004-3A	  	
		 	1-Cavity Mold 1005-50	  	
		 	1-Cavity Mold 1005-6A	  	
		 	8-Cavity Mold, Needle Guide 1004-40	  	
			
	Tschida	 	Inspection fix w/drill chuck	  	
		 	Adapter, Steel screw, Needle cup	  	
		 	Plastic Discs	  	
		 	Needle Fixture	  	

  

 30 

 SCHEDULE 1.43 
 THE TRADEMARKS 
  

													
	 Country
	  	Trademark No.	  	Issue Date	  	Title	  	Renewal Date	  	Status	  	Note
	 Canada
	  	896,992	  	10/18/98	  	Adrenaject	  		  	Pending	  	Dec. of Comm.
	 China
	  	1,385,276	  	4/14/2000	  	Adrenaject	  	4/13/2010	  	Registered	  	
	 E.C.
	  	703,124	  	5/10/1999	  	Adrenaject	  	12/15/2007	  	Registered	  	
	 Japan
	  	4,300,605	  	7/30/1999	  	Adrenaject	  	7/30/2009	  	Registered	  	
	 United States
	  	76/258418	  		  	Adrenaject	  	6/19/2004	  	Published	  	St. of Use
	 Canada
	  	896,991	  	11/18/98	  	Reliaject	  		  	Published	  	Dec. of Comm.
	 China
	  	1,372,042	  	3/7/2000	  	Reliaject	  	3/6/2010	  	Registered	  	
	 E.C.
	  	703,256	  	5/10/1999	  	Reliaject	  	12/15/2007	  	Registered	  	
	 Japan
	  	4,300,606	  	7/30/1999	  	Reliaject	  	7/30/2009	  	Registered	  	
	 United States
	  	75/374002	  		  	Reliaject	  		  	Published	  	

  

 31 

 Schedule 2.2.1 
 Encumbrances 
 Senetek is a party to a Securities Purchase Agreement dated April 14, 1999, as amended by the
First Amendment dated June 20, 2001, the Second Amendment dated September 4, 2003 and the Third Amendment dated September 30, 2004 (the “Securities Purchase Agreement”), among Silver Creek Investments, Ltd., Bomoseen
Investments, Ltd., Elstree Holdings, Ltd. and Dandelion Investments, Ltd. (collectively, the “Holders”) and Senetek. Pursuant to the Securities Purchase Agreement Senetek sold and the Holders purchased senior secured notes of Senetek (the
“Notes”) and granted to the Holders security interests in and to all of the Assets. The Notes mature on April 1, 2007 and are pre-payable at any time at the option of Senetek without premium or penalty. *** in principal amount of the
Notes remain outstanding. 
 *** Confidential treatment has been requested 
  

 32 

 SCHEDULE 2.2.7 
 On January 6, 2005, Senetek’s trademark counsel received a letter from counsel for Ares Trading S.A. notifying Senetek of its contention that the trademark “Reliaject” for which Senetek had
a pending trademark appliation with the U. S. Patent and Trademark Office, was confusingly similar to the trademark Rebiject issued to Ares Trading, S.A. Senetek’s counsel and Ares Trading’s Counsel corresponded, and on November 9,
2005 Ares Trading S.A. filed an Opposition to Senetek’s trademark application. On January 23, 2006, Senetek duly filed a response to the Opposition. True and correct copies of all Correspondence between Senetek and Ares or their respective
counsel and of the parties filings with the USPTO are attached hereto. 
  

 33 

 Schedule 2.2.11 
 ANDA Information 
  

					
	 Content
	  	 Author
	  	 Date

	 Quality Manual
	  	 Meis
	  	
	 General Specifications
	  	 Meis
	  	
	 US Contract Filling
	  	 Novocol
	  	 1998

	 File #2 Correspondence and Contact Logs
	  		  	 1998-1999

	 Fill II Correspondence and Contact Logs
	  	 Novocol
	  	
	 File III Correspoondence and Contact logs
	  	 Novocol
	  	
	 Draft Agreement
	  	 Novocol
	  	 April 5, 1998

	 Correspondence (R. Oakes)
	  	 Novocol
	  	 Apr.-Sept. 95

	 Correspondence (A. Duffield) re Vasopotin
	  	 Novocol
	  	 Oct. 1995

	 Correspondence (A. Duffield) re Vasopotin
	  	 Novocol
	  	 Dec. 1995

	 Shering Plough Due Diligence Visit to Novocol
	  		  	 Dec. 4, 1997

	 Certificate of Analysis, Vasopotin II
	  	 Novocol
	  	 Feb. 7, 1996

	 Certificate of Analysis, Vasopotin II
	  	 Novocol
	  	 Mar. 15, 1996

	 Certificate of Analysis, Vasopotin II Placebo
	  	 Novocol
	  	 Oct. 12, 1995

	 Working Formula & Procedure-Meis Vasopotin 2
	  	 Novocol
	  	 May 20, 1997

	 Contact Reports
	  	 Novocol
	  	 April, 1998

	 Contact Reports
	  	 Novocol
	  	 1995-1998

	 Binder III
	  	 Novocol
	  	 8/98-10/17/98

	 Binder II
	  	 Novocol
	  	 June-Aug. 1998

	 Purchase Orders
	  	 Novocol
	  	 1995

	 Batch Records (Blanks)
	  	 Novocol
	  	
	 Batch Records (.35, .30) old PMEA’s
	  	 Novocol
	  	 1996

	 Corresp. to FDA; Amendment to Pending App.
	  	 Novocol
	  	 De. 1998

			
	 Content
	  	 Author
	  	 Date

	Informatoon/correspondence	  	 Celltech/Medevale/Medeva
	  	 1994-1995

	Epinephrine (E. Curley)	  		  	 1996-1997

	Senetek Epinephrine	  		  	 2000

	Aseptic Assembly Transfer to Novocol	  		  	 1995-1996

	Epinephrine Auto-injector FDA Protocol for In-Vitro Equiv. Test	  	 Senetek
	  	 Aug. 2, 1999

	STI (EPI) /FDA Information	  	 Department of Health
	  	 Aug. 3, 1995

	Epinephrine Auto-Inj, 0.3 mg ANDA Volume 1 of 3	  	 Lachman Cons. Serv’s (LCS)
	  	 6/12/1998

	Epinephrine Auto-Inj, 0.3 mg ANDA Volume 2 of 3	  	 LCS
	  	 June 12, 1998

	Epinephrine Auto-Inj, 0.3 mg ANDA Volume 3 of 3	  	 LCS
	  	 June 12, 1998

	Epinephrine Injection USP, 0.3 mg per Delivery Amendment to Pending ANDA #75-397	  	 LCS
	  	 Sept. 11, 1998

	ANDA Volume 1 0.3 mg Epinephrine Auto-Injector Auto-Injector for Subcutaneous Inj. of Epinephrine	  	 Arent Fox
	  	 Feb. 22, 1997

	ANDA Volume 2 0.3 mg Epinephrine Auto-Injector Auto-Injector for Subcutaneous Inj. of Epinephrine	  	 Arent Fox
	  	 Feb. 22, 1997

	Lachman Epinephrine	  	 LCS
	  	 Apr. 14, 1999

	Lachman Consultanat Services	  	 LCS
	  	 Apr. 21, 1997

	App. Part of the DMF Epinephrine (I-Adrenaline)	  	 Boehringer Ingelheim
	  	 Apr. 6, 1999

	App. Part of the DMF Epinephirne Bitartrate (I-Adrenaline Bitartrate)	  	 Boehringer Ingelheim
	  	 June 13, 1997

	Chemistry & Manufacturing Adrenoject Part 2	  	 ICN Canada LTD
	  	 N/A

	Stability Reports Auto-Injector	  	 Novocol Pharm. Canada
	  	 Sept. 1, 1998

	Epinephrine Auto-Injector, 0.3 mg ANDA Volume 1 of 3 Incomplete Copy	  		  	
	Epinephrine Auto-Injector, 0.3 mg ANDA Volume 3 of 3 Incomplete Copy	  		  	
	Epinephrine Inj. USP, 0.3 mg per Delivery Amend. to Pending ANDA #75-397 Incomplete Copy	  	LCS	  	Sept. 11, 1998

  

 34 

					
			
	 Content
	  	 Author
	  	 Date

	DIN Application Epinephrine Injection USP (0.3 and 0.15 mg) Adrenoject Volume 1 of 4	  	ICN Canada Ltd	  	
	DIN Application Epinephrine Injection USP (0.3 and 0.15 mg) Adrenoject Volume 1 of 4	  	LCS	  	Jan. 4, 1999
	EPI ANDA Second Document Submission	  	Novocol Pharma, Canada	  	Dec. 23, 1997
	Citizen Petition of the FDA for New Drug App. regarding Epinephrine Injection (In Quadruplicate)	  	Senetek DDT	  	Apr. 14, 1998
	Review of Senetek ANDA for Epinephrine Injection USP, Auto-Injector Original	  	LCS	  	May 5, 1997
	Review of Senetek ANDA for Epinephrine Injection USP, Auto-Injector Copy	  	LCS	  	May 5, 1997
	ANDA Volume1 0.3 mg Epinephrine Auto-Injector Auto-Injector for Subcutaneous Inj. fo Epine. Copy	  	Arent Fox	  	Feb. 22, 1997
	ANDA Volume2 0.3 mg Epinephrine Auto-Injector Auto-Injector for Subcutaneous Inj. fo Epine. Copy	  	Arent Fox	  	Feb. 22, 1998
	L. Dalling ANDA Package/Label	  	Meis Inc.	  	
	L. Dalling Epi 0.3mg ANDA Labeling Overflow	  	Meis Inc.	  	
	L. Dalling ANDA Graphics	  	LCS and Novocol	  	Nov. 14, 1997
	L. Dalling Epinephrine ANDA 0.3 mg Sterillization Assurance	  	Novocol	  	Feb. 7, 1997
	L. Dalling Epinephrine 0.3 mg Amendment	  	Novocol	  	Sept. 1, 1998
	L. Dalling Epinephrine 0.3mg ANDA Section XII Misc. Reports and Data	  	Novocol	  	June 9, 1997
	L. Dalling Epinephrine 0.3 mg ANDA Section XIV Reports and Summary	  	Novocol, The West Co, Meis Inc.	  	Dec. 11, 1997
	L. Dalling FDA-Eoubeogrube Approval	  	Novocol Dept. of Health	  	Apr. 12, 1996
	L. Dalling Adrenaject-ANDA History	  	LCS and Dept. of Health	  	Feb. 16, 1999
	Autoject Mini 510K Filing	  	Owen Mumford	  	
			
	 Previously Distributed Material
 Content
	  	 Author
	  	 Date

	Corresp. To D. Sporn, FDA: Request for Bioequivalence Testing Guidance for IM Rte of Admin.; .3mg per delivery	  	Lachman Consulting Services (LCS)	  	3/12/99
	Corresp. To G. Horman, Senetek: 4 wk Rat Toxicology Study	  	FDA	  	2/24/97
	Draft 1:1000 USP Epinephrine Submission Batch Validation Plan	  	Unk.	  	6/24/97
	Corresp. To S. Lewinton, Senetek: Audit Schedule	  	LCS	  	1/21/98
	Corresp. To S. Lewinton, Senetek: Audit Summary	  	LCS	  	3/11/98
	Corresp. To E. Curley, Senetek: Summary of Pending Issues	  	LCS	  	6/2/98
	Corresp. To D. Pettit, Senetek: Reformatting MCA Submission	  	LCS	  	7/3/98
	Corresp. To E. Curley, Senetek: FDA Acceptance of Filing, Novocol’s Inspection	  	LCS	  	7/9/98
	Fax to Karen Thomas, CEKA: EpiPen Mark in UK	  	Moreton (D. Pettit)	  	7/13/98
	Corresp. To E. Curley, Senetek: EpiPen Mark Products in UK, Authorization to Market	  	LCS	  	7/17/98
	Fax to Karin Thomas, CEKA: EpiPen Marking Exclusivity	  	Moreton (D. Pettit)	  	7/18/98
	Corresp. To E. Curley, Senetek: Clarification of EpiPen Marking Exclusivity	  	LCS	  	7/22/98
	Corresp. To E. Curely, Senetek: US Market Authorization for .15 mg	  	LCS	  	8/20/98
	Corresp. To E. Curley, Senetek: Novocol Facility Inspection	  	LCS	  	10/9/98
	Corresp. To C. Jones, ICN: Cover Ltr for Documents Forwarded	  	LCS	  	11/24/98
	Corresp. To F. Massino, Senetek: Anticipated Regulatory Activities & Est.’d Time Frames	  	LCS	  	11/24/98
	Corresp. To E. Curley, Senetek: Potential Substitutability with Epipen	  	LCS	  	11/24/98
	Corresp. To E. Curley, Senetek: Status of FDA Approval of the Adrenaject Projects	  	LCS	  	12/1/98
	Fax To Eric Penrose et al: Draft Minutes of Conf Call 12/2/98	  	S. Lewinton	  	12/3/98

  

 35 

					
	 Content
	  	 Author
	  	 Date

	Fax To LCS/Lachman: Table of Information Required for Completion of Adrenaject NDS	  	ICN	  	12/8/98
	Corresp. To E. Curley, Senetek: Revised List of Documents for Addition of .15 mg to Application	  	LCS	  	12/14/98
	Corresp. To E. Curley, Senetek: Open Issues Pertaining to .3 mg ANDA	  	LCS	  	12/15/98
	Corresp. To R. Vesey, Novocol: W. Matelski Represents Novocol with FDA	  	LCS	  	12/21/98
	Corresp. To E. Curley, Senetek: Meridian Petition to FDA to Deny .15 mg Product	  	LCS	  	12/23/98
	Corresp. To E. Curley, Senetek: FDA Deficiency Letter for .3 mg ANDA	  	LCS	  	1/4/99
	Response From FDA: Major Amendment re ANDA 75-397; Not Approved	  	FDA	  	1/4/99
	Corresp. To E. Curley, Senetek: FDA Draft Guideline “ANDA’s: Impurites in Drug Products”	  	LCS	  	1/8/99
	Corresp. To R. Oakes, Senetek: FDA response on Proposed 2 Year Rat Carcinogenicity Study	  	LCS	  	1/5/99
	Corresp. To P. Rose, ICN: Cover Ltr for Documents Forwarded re .3mg ANDA	  	LCS	  	1/11/99
	Memo to E. Curley, Senetek: Response to ANDA for .15 mg	  	FDA	  	1/11/99
	Memo to E. Curley, Senetek: Response to ANDA for .3 mg	  	FDA	  	1/11/99
	Corresp. To F. Massino, Senetek: Issues to be Resolved re FDA 1/4/99 Deficiency Letter	  	LCS	  	1/13/99
	Corresp. To F. Massino, Senetek: Withdrawal of FDA Approval of ANDA Suitability Petition	  	LCS	  	1/18/99
	Corresp. To F. Massino, Senetek: FDA Warning Letter to Novocol	  	LCS	  	1/18/99
	Corresp. To E. Curley, Senetek: Draft Response to FDA Not Approvable Letter	  	LCS	  	2/8/99
	Corresp. To S. Lewinton, Senetek: Plan for ANDA Approval with Bio Waiver Request Option	  	LCS	  	3/1/99
	Corresp. To S. L.: Device Comp. for Encl. with Bio Waiver	  	LCS	  	3/9/99

  

 36 

					
			
	 Content
	  	 Author
	  	 Date

	Corresp. To F. Homan, Senetek: Discussion of FDA Deficiency Letter	  	LCS	  	3/8/99
	Corresp. To H. Bodden, Senetek: Ltr to OGD Concerning Bioequivalance Testing Guidance	  	LCS	  	3/12/99
	Corresp. To S. Lewinton, Senetek: Clarification of FDA’s Batch Size and Packaging Req’s	  	LCS	  	3/23/99
	Corresp. To S. Lewinton, Senetek: Review of Protocol for Study ADJ001	  	LCS	  	3/29/99
	Corresp. To C. Jones, ICN: Copy of Request for Bioequivalance Testing Guidance	  	LCS	  	3/31/99
	Fax To D. Christ: Proposal for Packaging of ANDA Test Batches	  	LCS	  	4//99
	Corresp. To F. Homan: Review of Protocol for Novocol Validation Study	  	LCS	  	6/25/99
	Corresp. To G. Van Lear, Senetek: Review of Proposal to Have ICN submit an ANDA for Ana-Kit	  	LCS	  	7/7/99
	Corresp. To F. Massino, Senetek: Epinephrine Injection Project and ANDA	  	LCS	  	7/9/99
	Corresp. To R. Oakes, Senetek: FDA requests re transgenic mouse study and Other Questions	  	LCS	  	7/13/99
	Corresp. To L. Lachman, Lachman Cons. Services: Full Packaging Requirements	  	FDA	  	7/13/99
	Corresp. To F. Massino, Senetek: OGD Approval of Exhibit Batch Plan/Stability Proposal	  	LCS	  	7/16/99
	Corresp. To F. Massino, Senetek: Discussion of Contents of OGD Approval Letter	  	LCS	  	7/23/99
			
	 Content
	  	 Author
	  	 Date

	Corresp. To G. Van Lear, Senetek: (Page 1 missing of 2 page letter)	  	LCS	  	9/14/99

  

 37 

 SCHEDULE 2.2.14 
 ARDANA’S LICENSE RIGHTS 
 Pursuant to
Article 4 of the License Agreement dated June 17, 2004 between Senetek and Ardana Bioscience Limited (“Ardana”), Ardana was granted an exclusive license to market, sell and deliver the Reliaject Device pre-filled with Invicorp in its
Territory, initially comprised of Europe. In addition, Article 7 of the License Agreement provides as follows: 
 “7. DELIVERY SYSTEM 

7.1 Senetek will use its best endeavours to: 
 7.1.1
identify a suitable Third Party to manufacture the Delivery System on behalf of Senetek and its licensees; 
 7.1.2 enter into an agreement
with such Third Party in terms of which Senetek grants to such Third Party a license under the Delivery System Patents to manufacture and supply the Delivery System on behalf of Senetek and its licensees; 
 7.1.3 cause such manufacturing licensee to enter into good faith negotiations with Ardana, solely at Ardana’s request, in relation to an exclusive
manufacturing and supply contract, on reasonable and customary terms, for Ardana’s requirements of the Delivery System for marketing and sale in conjunction with the Product in the Territories for the period of this Agreement, 
 within twelve (12) months following the Commencement Date.” 
  

 38 

 Schedule 3.2.4 
 Identified Non-Epinephrine Products 
 Atropine 
 Morphine 
 Diazepam 
 Pralidoxine 
 Sumatriptan 
 Invicorp® (only if
Ranbaxy or their Affiliates market and sell the Device pre-filled with Invicorp® to physicians and other retail or wholesale third party customers, but expressly excluding any sales to Plethora, Ardana or other third party licensees of
Invicorp® for resale by such parties) 
  

 39 

 SCHEDULE 15.3 
 FORM OF PRESS RELEASE 
 Press Release 
 Source: Senetek PLC 
 SENETEK AND RANBAXY ANNOUNCE THE ACQUISITION BY 
 RANBAXY OF SENETEK’S RELIAJECT AUTOINJECTOR; 
 SENETEK TO RECEIVE MILESTONE AND ROYALTY PAYMENTS 
 NAPA, Calif., March     , 2006 / (OTCBB: SNTKY - News), www.senetekplc.com, a healthcare technologies company focused on
developing and co-marketing products for the anti-aging markets worldwide, today announced the sale to Ranbaxy Pharmaceuticals Inc. of Jacksonville, Florida, of Senetek’s patents, trademarks and automated manufacturing equipment for its
proprietary disposable autoinjector for self-administration of parenteral drugs, including epinephrine for emergency treatment of anaphylactic shock from peanut and other allergies. 
 The agreement provides for a non-refundable payment on signing and milestone payments based on regulatory approvals and cumulative sales milestones. Terms also include a percentage of Ranbaxy’s and/or its
licensees’ quarterly net sales of the product(s). Initially, Ranbaxy will focus on pre-filling the autoinjector device with epinephrine. Ranbaxy will also evaluate the development of other parenteral drugs (including Senetek’s patented
erectile dysfunction drug Invicorp®). 
 Ranbaxy will be making infrastructure investments, including building out the required clean room suites at its
facility in New Brunswick, New Jersey to house the highly automated Reliaject production line. Under the agreement, Ranbaxy will be obtaining regulatory approvals and marketing the product. Ranbaxy has also agreed to negotiate with Ardana Bioscience
Limited, Senetek’s exclusive licensee for Invicorp for Europe, and Plethora Solutions Holdings PLC, Senetek’s exclusive licensee for Invicorp in North America, for contract manufacturing agreements to produce the autoinjector pre-filled
with Invicorp. 
 Frank J. Massino, Chairman and Chief Executive Officer of Senetek, commented, “Placing Senetek’s autoinjector technology and
equipment with a strong commercial partner committed to bringing it to market has been one of the key goals of Senetek’s strategic plan. Ranbaxy is ideally suited to maximizing the commercial potential of this unique technology, and this
transaction will further support our business plan to broaden and deepen Senetek’s position in the dermatologicals segment with Kinetin, Zeatin and the other new compounds under development or evaluation for in-licensing.” 
  

 40 

 Dipak Chattaraj, Chairman of Ranbaxy Inc., the U.S. parent company of Ranbaxy Pharmaceuticals Inc., said,
“Anaphylactic shock due to allergic reaction to peanut-based food additives is a growing health risk that currently results in over 30,000 emergency room trips, and 150 to 200 preventable deaths, in the U.S. each year, on top of some 50 deaths
from bee sting and other allergic reactions. Senetek’s patented, modular autoinjector is ideally suited for this acute self-medication market, which currently is growing at over 25% annually as health and educational organizations build popular
awareness of these risks. This device also can be adapted for other acute applications, including in the military and homeland security sectors for administration of antidotes to chemical and biological agents. Ranbaxy Pharmaceuticals is well
staffed and funded to shepherd this much needed technology through regulatory approval and bring it promptly to market.” 
 Ranbaxy Pharmaceuticals Inc.
(RPI) based in Jacksonville, Florida, is a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), India’s largest pharmaceutical company. RPI is engaged in the sale and distribution of generic and branded prescription products in the
U.S. healthcare system. 
 Senetek is a life sciences-driven product development and licensing company focused on the high growth market for dermatological
and skin care products primarily addressing photo-damage and age-related skin conditions. Senetek’s patented compound Kinetin is a naturally occurring cytokinin that has proven effective in improving the appearance of aging skin with virtually
none of the side effects associated with acid-based active ingredients. Senetek has licensed Kinetin to leading global and regional dermatological and skin care marketers including Valeant Pharmaceuticals, The Body Shop and Revlon, and recently
announced the grant to Valeant Pharmaceuticals of exclusive world-wide rights to Zeatin, a Kinetin analog shown to have significant differential advantages in clinical trials. Senetek’s researchers at the University of Aarhus, Denmark, also are
collaborating with the Institute of Experimental Botany, Prague, and other leading governmental and private research institutions to identify and evaluate additional new biologically active compounds for this high growth field. 
 Senetek PLC Investor Relations Contact: 
 1-707-226-3900 ext. 102 
 E-mail: Pknopick@eandecommunications.com 
 Safe Harbor Statement 
 This news
release contains statements that may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act, including those that might imply Senetek’s expectation that the FDA will approve this
autoinjector pre-filled with epinephrine for anaphylaxis and that Ranbaxy Pharmaceuticals will meet with commercial success with this product. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ
materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company’s Annual Report on Form 10-K for the year

  

 41 

 2004. However, the Company necessarily can give no assurance that it has identified or will identify all of the factors
that may result in any particular forward-looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of
new information, future events or otherwise. 
  

 42 

 EXHIBIT A 
 GENERAL ASSIGNMENT AND BILL OF SALE 
 This General Assignment and Bill of Sale (this
“Assignment”) dated this      day of March, 2006, is by and between Senetek PLC, a United Kingdom company with offices at 831 Latour Court, Napa, California 94558 (“Senetek”) and Ranbaxy
Pharmaceuticals, Inc., a Florida corporation with offices at 9431 Florida Mining Boulevard, Jacksonville, Florida 32257 (“Ranbaxy”). 
 BACKGROUND 
 Senetek and Ranbaxy are parties to an Asset Purchase and Sale Agreement dated as of the date hereof (the
“Purchase Agreement”) pursuant to which Senetek sold and Ranbaxy purchased certain tangible and intangible assets described in the Purchase Agreement (the “Assets”). Capitalized terms used herein and not otherwise defined are
used with the meanings ascribed to them in the Purchase Agreement. 
 The parties hereto wish to enter into this Assignment to evidence the
transfer and conveyance by Senetek and the purchase by Ranbaxy of all of the Assets other than the Patents and the Trademarks, the assignments of which are evidenced by other instruments dated the date hereof. 
 AGREEMENT 
 NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Senetek and Ranbaxy agree as follows: 
 1.
Assignment. Senetek hereby grants, assigns, conveys and delivers to Ranbaxy all of Senetek’s right, title and interest in and to the Assets other than the Patents and the Trademarks as the same exist on the date hereof (collectively the
“Conveyed Assets”). 
 2. Acceptance. Ranbaxy hereby accepts all of Senetek’s right, title and interest in and to the
Conveyed Assets 
 3. Further Assurances. Senetek agrees to do, execute, acknowledge and deliver to Ranbaxy or cause to be done,
executed, acknowledged and delivered, upon its request, and without further consideration, all such further acts, conveyances, transfers, assignments, powers of attorney and assurances as may be required to more effectively convey, transfer and vest
in Ranbaxy and put Ranbaxy in possession of the Conveyed Assets transferred and conveyed hereunder. 
 4. Choice of Law. This
Assignment shall be governed by and interpreted in accordance with the laws of the State of New York (regardless of that or any other jurisdiction’s choice of law principles). 
  

 43 

 5. Counterparts. This Assignment may be executed in counterparts, each of which shall be deemed an
original, but both of all of which together shall constitute or and the same instrument and shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered to the other party. 
 6. Descriptive Headings. The descriptive headings herein are inserted for convenience only and are not intended to be part of or to affect the
meaning or interpretation of this Assignment. 
 IN WITNESS WHEREOF, Senetek and Ranbaxy have executed and entered into this Assignment as of
date first set forth above. 
  

									
	SENETEK PLC	 		 	RANBAXY PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Frank J. Massino
	 		 	By:	 	  

	Name:	 	Frank J. Massino	 		 	Name:	 	  

	Title:	 	Chairman and Chief Executive	 		 	Title:	 	  

  

 44 

 EXHIBIT B 
 PATENT ASSIGNMENT 
 Senetek PLC, a United Kingdom company having its principal place of
business at 831 Latour Court, Napa, California 94558 (“ASSIGNOR”) for good and valuable consideration, does hereby sell, assign, transfer and convey to Ranbaxy Pharmaceuticals, Inc., a Florida corporation having a principal place of
business at 9431 Florida Mining Boulevard, Jacksonville, Florida 32257 (“ASSIGNEE”), its successors, assigns and legal representatives, the ASSIGNOR’s entire right, title and interest in and to the United States Letters Patents set
forth in the schedule hereto and all United States rights to claim priority on the basis of such Letters Patent, to the subject matter disclosed therein, and to corresponding Letters Patent or Applications throughout the world. 
 ASSIGNOR further assigns to ASSIGNEE all causes of action for past or future infringements or violations by third parties of any of the above-assigned
patents, patent applications and other rights, including the right to recover past and future damages for infringements or violations of such rights. ASSIGNOR will not take or omit any action which may result in the impairment or alteration of the
Letters Patent or Applications or any of the rights therein. ASSIGNOR also agrees to sign all documents necessary to secure all any and all patents and other right based on or related to the above patent applications and patents, and to request
issuance of all such patents to ASSIGNEE in accordance with this Assignment. 
  

					
	March     , 2006	 	Senetek PLC
			
		 	By:	 	 /s/ Frank J. Massino

		 		 	Frank J. Massino
		 		 	Chairman and Chief Executive Officer

  

 45 

			
	STATE OF NEW YORK)	  	
		  	) SS.:
	COUNTY OF NEW YORK )	  	

 On the              day of
                    , in the year 2006, before me, the undersigned, personally appeared FRANK MASSINO, personally known to me or proved
to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or
the person upon behalf of which the individual acted, executed the instrument. 
  

	
	  
 Notary Public

  

 46 

 EXHIBIT C 
 TRADEMARK ASSIGNMENT 
 Senetek PLC, a United Kingdom company having its principal place of
business at 831 Latour Court, Napa, California 94558 (“ASSIGNOR”) for good and valuable consideration, does hereby sell, assign, transfer and convey to Ranbaxy Pharmaceuticals, Inc., a Florida corporation having a principal place of
business at 9431 Florida Mining Boulevard, Jacksonville, FL 32257 (“ASSIGNEE”), its successors, assigns and legal representatives, the ASSIGNOR’s entire right, title and interest in and to the statutory trademarks set forth in the
schedule hereto together with all common law trademarks related thereto, to the subject matter disclosed therein, and to corresponding rights throughout the world (the “Trademarks”). 
 ASSIGNOR further assigns, transfers and conveys to ASSIGNEE all goodwill symbolized by and associated with the Trademarks as used, all income, royalties
and payments now or hereafter due or payable in respect thereto, and all causes of action for past, present or future infringements or violations of any of the above-assigned Trademarks and other rights, including the right to recover past and
future damages for infringements or violations of such rights. ASSIGNOR also agrees to sign all documents necessary to secure any and all statutory trademarks and other right based on or related to the above assigned rights, and to request issuance
of all such statutory trademarks and other rights to ASSIGNEE in accordance with this Assignment. 
 2. Further Assurances. ASSIGNOR
agrees to execute and deliver to ASSIGNEE, upon its request, such other and further instruments of assignment and such other assistance as may be reasonably requested by ASSIGNEE in the establishment, registration, preservation and enforcement of
Ranbaxy’s rights to the foregoing. 
 3. Choice of Law. This Assignment shall be governed by and interpreted in accordance with
the laws of the State of New York (regardless of that or any other jurisdiction’s choice of law principles). 
  

 47 

 IN WITNESS WHEREOF, Senetek and Ranbaxy have executed and entered into this Assignment this
     day of March 2006. 
  

			
	SENETEK PLC
		
	By:	 	 /s/ Frank J. Massino

	Name:	 	Frank J. Massino

  

			
	STATE OF NEW YORK)	  	
		  	) SS.:
	COUNTY OF NEW YORK )	  	

 On the              day of
                    , in the year 2006, before me, the undersigned, personally appeared FRANK MASSINO, personally known to me or proved
to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or
the person upon behalf of which the individual acted, executed the instrument. 
  

	
	  
 Notary Public

  

 48 

 EXHIBIT D 
 QUARTERLY PAYMENT RECONCILIATION 
 Ranbaxy Pharmaceuticals Co., Inc. 
 Quarterly Payment Reconciliation 
 For the Calendar Quarter Ended
                         
  

											
	 Product
	  	Gross Sales	  	Adjustments	  	Net Sales	  	Rate	  	Payment($)

  
  

 49Prepayment Agreement

 Exhibit 10.100 
 March 30, 2006 
 To the Holders of the Senetek PLC Amended 
 and Restated Senior Secured Notes Due April 1, 2007 
 and Series A, B and D Warrants to Purchase Ordinary Shares 
 Gentlemen: 
 Reference is
made to the Securities Purchase Agreement dated April 14, 1999, as amended by the First Amendment dated June 20, 2001, the Second Amendment dated September 4, 2003, and the Third Amendment dated September 30, 2004 (the
“Securities Purchase Agreement”) pursuant to which Silver Creek Investments, Ltd., Bomoseen Investments, Ltd., Elstree Holdings, Ltd., Dandelion Investments, Ltd., Alba Limited, Pearl Waves Limited, and Wallington Investment Holdings Ltd.
(collectively, the “Holders”) hold the Third Amended and Restated Senior Secured Notes Due April 1, 2007 (the “Notes”) and Series A, B and D Warrants (the “Warrants” and, together with the Notes, the
“Securities”) of Senetek PLC (“Senetek”) in the amounts set forth in Schedule 1 hereto. 
 The parties hereto wish to
provide for the prepayment and cancellation of the Securities, the termination of the Securities Purchase Agreement, and the issuance of a new series of Warrants pursuant to this agreement (the “Agreement”), all upon the terms hereinafter
provided. 
 Accordingly, the parties, intending to be bound, hereby agree as follows: 
 1. Cancellation of the Securities; Issuance of Series E Warrants  
 (a) Prepayment of the Notes. Senetek shall prepay as promptly as practicable the full principal amount outstanding of the Notes, together with accrued interest to the date of prepayment. Without limiting the
foregoing, (i) within five (5) business days after the date of this Agreement, Senetek shall prepay not less than $2,250,000 in principal amount of the Notes, together with accrued interest on the amount prepaid to the date of prepayment,
and (ii) within five (5) business days after the closing of Senetek’s revolving credit agreement with Silicon Valley Bank (“SVB”) (which Senetek shall use its best efforts to close as promptly as practicable but not later
than March 31, 2006), Senetek shall prepay the full principal amount then outstanding of the Notes, together with accrued interest on the amount prepaid to the date of prepayment. Concurrently with the prepayment described in (ii), above, the
Note holders shall execute and deliver all such instruments and take all such other actions, at Senetek’s expense, as Senetek may reasonably request to release in favor of SVB the Note holders’ security interests pursuant to the Securities
Purchase Agreement. 
 (b) Cancellation of the Warrants and Issuance of Series E Warrants. On the date that the full outstanding
principal amount of the Notes and accrued interest are prepaid (the “Closing Date”), all outstanding Series A, B and D Warrants will be surrendered to Senetek against issuance by Senetek of a new series of Warrants denominated Series E
(the “Series E Warrants”) to purchase an aggregate of 3,000,000 Senetek ordinary shares at a price per share of $0.25. The Series E Warrants shall be upon all of the terms (other than Warrant purchase price) of the Series 

 D Warrants and shall be entitled to the benefits set forth in paragraph 2 below. The Series E Warrants will be issued in
the names and amounts set forth in Schedule 2 hereto and shall be in the form annexed hereto as Exhibit A. On the Closing Date, the Securities shall be cancelled and the Security Purchase Agreement shall terminate. 
 2. Registration Rights of Series E Warrant Holders and Indemnity Against Delay in Issuance of American Depositary Shares.  
 (a) Initial Registration. At any time after the Closing Date, the Holders of Series E Warrants exercisable to purchase not less than one million
five hundred thousand (1,500,000) ordinary shares (subject to adjustment as provided in the Series E Warrants) may give a joint, irrevocable written notice (the “Notice”) to Senetek of their election to register on Form S-3 under the
Securities Act of 1933 the sale of not less than one million five hundred thousand (1,500,000) ordinary shares, together with the American Depositary Shares (“ADRs”) issuable in respect of the ordinary shares to be registered (the
“Registrable Securities”). As promptly as practicable after Senetek’s receipt of such Notice, Senetek shall prepare and file in accordance with the applicable rules of the Securities and Exchange Commission (the
“Commission”) a Registration Statement on Form S-3 covering the resale of the Registrable Securities and shall use its best efforts to cause such Registration Statement to be declared effective by the Commission as promptly as practicable
and to remain continuously effective for a period of three (3) years. It shall not be a condition of giving such Notice that such Series E Warrant holders then exercise such Series E Warrants, but the giving of such Notice shall be deemed an
irrevocable election by each such holder to exercise such Series E Warrants and purchase the Registrable Securities on the second (2nd) trading day following the effectiveness of such Registration Statement, provided that the
Registration Statement shall then remain effective and that the Commission shall not then have taken any action to suspend or revoke such effectiveness. Subject to the foregoing, each such holder shall duly exercise such Warrants and purchase the
Registrable Securities on or before 2:00 p.m. New York City time on the second (2nd) trading day following the effectiveness of such Registration Statement in the manner provided in the Series E Warrants. 
 (b) Subsequent Registration. At any time after the six (6) month anniversary of the effectiveness of the Registration Statement provided for
in paragraph 2(a), the Holders of Series E Warrants exercisable to purchase not less than a majority of the ordinary shares issuable pursuant to the Series E Warrants originally issued (excluding the Registrable Securities and any ordinary shares
theretofore sold otherwise than in a public offering) (the “Remaining Shares”) may give a joint, irrevocable written notice (the “Subsequent Notice”) to Senetek of their election to register on Form S-3 under the Securities Act
of 1933 the sale of not less than a majority of the Remaining Shares, together with the ADRs issuable in respect of the ordinary shares to be registered. As promptly as practicable after Senetek’s receipt of such Subsequent Notice, Senetek
shall prepare and file in accordance with the applicable rules of the Securities and Exchange Commission (the “Commission”) a Registration Statement on Form S-3 covering such resale and shall use its best efforts to cause such Registration
Statement to be declared effective by the Commission as promptly as practicable and to remain continuously effective for a period of three (3) years. It shall not be a condition of giving such Notice that such Series E Warrant holders then
exercise such Series E Warrants, but the giving of such Notice shall be deemed an irrevocable election to exercise such Series E Warrants on the second (2nd) trading day following the effectiveness of such Registration Statement, provided
that the Registration Statement shall then remain effective and that the Commission shall not then have taken any action to suspend or revoke such effectiveness. Subject to the foregoing, each such holder shall duly exercise such Warrants and
purchase the shares covered by the Registration Statement on or before 2:00 p.m. New York City time on the second (2nd) trading day following the effectiveness of such Registration Statement in the manner provided in the Series E Warrants.

  

 2 

 (c) Indemnity Against Late Delivery of ADRs. Each Holder may tender its ordinary shares issued
upon exercise of Series E Warrants (whether in connection with a registration pursuant to paragraph 2(a) or 2(b) or otherwise) for ADRs in accordance with the procedure set forth in Exhibit C to the Securities Purchase Agreement and thereupon shall
be entitled to the indemnity against loss set forth in Section 6 of the Securities Purchase Agreement in the event Senetek fails to deliver freely tradable ADRs within five (5) business days after such tender. 
 3. Share Acquisition Holiday. Each Note and Warrant holder hereby agrees that neither it nor its affiliates will acquire beneficial ownership of
any additional Senetek ordinary shares or ADRs, except by exercise of Series E Warrants, for a period of one year from the Closing Date. 
 4. Consent to Note Holders’ Designees’ Resignations. It shall be a condition of the transactions provided for above that the two designees appointed to the Board of Directors of Senetek pursuant to the Securities Purchase
Agreement resign from the Board of Directors on or before the date of the prepayment of the Notes referred to in paragraph 1(a)(ii) above. The Note holders hereby consent to such resignations and to Senetek entering into with each such designee,
upon his resignation, a Resignation and Indemnification Agreement providing for full release and indemnification of each such director by the Company and payment of fees to each in the amount of $20,000, set forth therein 
 5. Attorneys Fees. On the Closing Date, the Company shall reimburse, or pay directly, the reasonable attorneys fees incurred by the Holders in connection
with the review and documentation of these transactions. 
 Please indicate your agreement to the terms hereof effective as of the date
hereof by signing and dating the enclosed copy of this letter and returning it to the undersigned via facsimile at (707) 226-3999, with an original executed copy to follow by mail, at your earliest convenience. 
  

			
	Very truly yours,
	
	SENETEK PLC
		
	By:	 	 /s/ Frank J. Massino

		 	Frank J. Massino
		 	Chairman and Chief
		 	Executive Office

  

 3 

			
	AGREED AND ACCEPTED BY:
	
	SILVER CREEK INVESTMENTS, LTD.
		
	By	 	Robert J. Sutcliffe
	Its	 	Attorney-in-fact
	
	 /s/ Robert J. Sutcliffe

	Robert J. Sutcliffe
	601 West Fifth Street
	Suite 1111
	Los Angeles, California 90071
	213 624 6860
	
	BOMOSEEN INVESTMENTS, LTD.
		
	By	 	Robert J. Sutcliffe
	Its	 	Attorney-in-fact
	
	 /s/ Robert J. Sutcliffe

	Robert J. Sutcliffe
	601 West Fifth Street
	Suite 1111
	Los Angeles, California 90071
	213 624 6860
	
	ELSTREE HOLDINGS, LTD.
		
	By	 	Robert J. Sutcliffe
	Its	 	Attorney-in-fact
	
	 /s/ Robert J. Sutcliffe

	Robert J. Sutcliffe
	601 West Fifth Street
	Suite 1111
	Los Angeles, California 90071
	213 624 6860

  

 4 

			
	DANDELION INVESTMENTS, LTD.
		
	By	 	Robert J. Sutcliffe
	Its	 	Attorney-in-fact
	
	 /s/ Robert J. Sutcliffe

	Robert J. Sutcliffe
	601 West Fifth Street
	Suite 1111
	Los Angeles, California 90071
	213 624 6860
	
	PEARL WAVES LTD.
		
	By	 	Robert J. Sutcliffe
	Its	 	Attorney-in-fact
	
	 /s/ Robert J. Sutcliffe

	Robert J. Sutcliffe
	601 West Fifth Street
	Suite 1111
	Los Angeles, California 90071
	213 624 6860
	
	WALLINGTON INVESTMENT HOLDINGS, LTD.
		
	By	 	Robert J. Sutcliffe
	Its	 	Attorney-in-fact
	
	 /s/ Robert J. Sutcliffe

	Robert J. Sutcliffe
	601 West Fifth Street
	Suite 1111
	Los Angeles, California 90071
	213 624 6860
	
	ALBA LIMITED
		
	By	 	Robert T. Tucker, Esq.
	Its	 	Attorney-in-fact
	
	 /s/ Robert T. Tucker

	Robert T. Tucker
	17 Meadowlark Road
	Rye Brook, New York 10573

  

 5 

 Schedule 1 
 Securities Holders 
  

				
	 Notes
	  	Principal Amount
	 Pearl Waves Limited
	  	$	1,644,285
	 Wallington Investment Holdings, Ltd.
	  	$	1,644,285
	 Total
	  	$	3,288,570
		  	 	 

  

							
	 Warrants
	  	 	  	Amount
	  	  	Series A	  	Series B	  	Series D
	 Silver Creek Investments, Ltd.
	  		  		  	
	 Bomoseen Investments, Ltd.
	  		  		  	
	 Elstree Holdings, Ltd.
	  		  		  	
	 Dandelion Investments, Ltd.
	  		  		  	
	 Alba Limited
	  		  		  	
	 Total
	  	3,000,000	  	3,300,000	  	3,437,500
		  	 	  	 	  	 

  

 6 

 Schedule 2 
 Series E Warrant Holders and Number of Warrants 
  

					
	 Warrant Holder Name
	  	 Registered Address
	  	Number of Warrants
	Wallington Investment Holdings, Ltd.	  	c/o Nomina Financial Services	  	2,700,000
		  	Augustinergasse 21	  	
		  	P.O. Box 6627	  	
		  	CH-8023 Zurich Switzerland	  	
			
	Alba Limited	  	c/o Robert T. Tucker	  	300,000
		  	Attorney at Law	  	
		  	17 Meadowlark Road	  	
		  	Rye Brook, New York 10573	  	

  

 7 

 Exhibit B 
 Form of Series E Warrants 
 NEITHER THIS WARRANT NOR ANY OF THE SECURITIES ISSUABLE HEREUNDER NOR ANY AMERICAN
DEPOSITARY SHARES REPRESENTING THE SECURITIES ISSUABLE HEREUNDER HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND NONE OF THEM MAY BE OFFERED, SOLD, TRANSFERRED, ASSIGNED NOR HYPOTHECATED IN THE
ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO SUCH SFCURITIES UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 WARRANT 
 to Purchase
[            ] Ordinary Shares of 
 SENETEK PLC

 Issued: March    , 2006 
 Expires: March 4, 2011 
 Series E 

	NO.	[    ] 

 This Warrant certifies
that [                                ] or its registered and permitted successors
or assigns (“[            ]” or the “Holder”), is entitled to, subject to the terms set forth below, purchase from SENETEK PLC, a corporation organized under the
laws of England (the “Company”), from time and time up to
[                                        ]
([                    ]) duly authorized, validly issued, fully paid and nonassessable Ordinary Shares (as such number may be adjusted
pursuant to Section 4(a) and Section 5 herein) which may be exchanged for American Depositary Shares (“ADSSs”) represented by American Depositary Receipts (“ADRSs”) (the Ordinary Shares of the Company, including any
shares into which they may be changed, reclassified, or converted, are herein referred to as the “Ordinary Shares”). This Warrant is one of the Series E Warrants (the “Warrants”) issued pursuant to that certain Agreement dated
March 21 , 2006, by and between the Company, Silver Creek Investments, Ltd., Bomoseen Investments, Ltd., Dandelion Investments, Ltd. and Elstree Holdings, Ltd. (the “Agreement”). The Ordinary Shares issuable upon exercise of the
Warrants (and any other or additional shares, securities or property that may hereafter be issuable upon exercise of the Warrants) are sometimes referred to herein as the “Warrant Shares,” and the maximum number of shares so issuable under
this Warrant is sometimes referred to as the “Aggregate Number” (as such number may be increased or decreased as more fully set forth herein). 
  

 8 

 This Warrant is subject to the following provisions, terms and conditions: 
 1. Exercise of Warrant. 
 a. To exercise this Warrant
in whole or in part, the Holder shall deliver to the Company at its principal office located at 831 Latour Court, Napa, California 94558, (A) a written notice, in substantially the form of the Exercise Notice attached hereto as Exhibit
1, of the Holder’s election to exercise this Warrant, which notice shall specify the number of Warrant Shares to be purchased, (B) cash, money order, certified check or wire transfer of immediately available funds payable to the
Company, in an amount equal to the Exercise Price (as defined below) multiplied by the number of Warrant Shares being purchased, and (C) this Warrant. The Company shall as promptly as practicable, and in any event within ten
(10) Business Days thereafter, execute and deliver or cause to be executed and delivered, in accordance with such notice, a certificate or certificates representing the aggregate number of Warrant Shares specified in such notice. The stock
certificate or certificates so delivered shall be in such denominations as may be specified in such notice and shall be issued in the name of the Holder or such other name as shall be designated in such notice. Such certificate or certificates shall
be deemed to have been issued and the Holder or any other person so designated to be named therein shall be deemed for all purposes to have become a Holder of record of such shares immediately prior to the close of business on the date such notice
is received by the Company as aforesaid. If this Warrant shall have been exercised only in part, the Company shall, at the time of delivery of said stock certificate or certificates, deliver to the Holder a new Warrant evidencing the rights of the
Holder to purchase the remaining Ordinary Shares called for by this Warrant, which new Warrant shall in all other respects be identical to this Warrant, or, at the request of the Holder, appropriate notation may be made on this Warrant and the same
returned to the Holder. The Company shall pay all expenses, taxes (except United Kingdom stamp tax duties) and other charges payable in connection with the preparation, issue and delivery of such certificates and new Warrants, except that in case
such stock certificates or new Warrants shall be registered in a name or names other than the name of the Holder, funds sufficient to pay all stock transfer taxes that are payable upon the issuance of such stock certificates or new Warrants shall be
paid by the Holder at the time of delivering the notice of exercise mentioned above. 
 b. All Ordinary Shares issued upon the exercise of
this Warrant shall be validly issued, fully paid and nonassessable and free from all preemptive rights of any stockholder, and from all taxes, liens and charges with respect to the issue thereof (other than United Kingdom stamp duty taxes and any
other transfer taxes) and, if any Ordinary Shares are then listed on a national securities exchange (as defined in the Securities Exchange Act of 1934, as amended) or quoted on an automated quotation system, shall be listed or quoted thereon, as the
case may be, to the extent permissible under the rules of such exchange and not prohibited by law, it being understood that such listing does not bear upon the transferability of such shares under the Act and the other provisions of this Agreement.

 c. The Company shall not be required upon any exercise of this Warrant to issue a certificate representing any fraction of an Ordinary
Share, but, in lieu thereof, shall pay to the Holder cash in an amount equal to a corresponding fraction (calculated to the nearest 1/100 of a share) of the Fair Market Value (as defined below) of one Ordinary Share on the Business Day immediately
prior to the date of receipt by the Company of notice of exercise of this Warrant. 
  

 9 

 d. The Company shall pay all depositary fees payable to the depositary and all stamp duty reserve taxes
due to Inland Revenue in respect of the issuance of American Depositary Shares or American Depositary Receipts in respect of Ordinary Shares issued upon exercise of the Warrant. 
 2. Terms and Conditions of Warrants. 
 a. Exercise. Warrants to purchase
[    ] (as adjusted in accordance with the principles of Section 4(a) or Section 5 hereof) Ordinary Shares shall be exercisable at the Exercise Price (as defined in Section 2(b) below) at any time,
and from time to time, on or after the date hereof (the “Exercise Date”), and shall expire at 11:50 p.m., New York City time, on March 4, 2011 (the “Expiration Date”). 
 b. Purchase Price. Subject to the provisions of Sections 5 and 6 hereof, the purchase price per Ordinary Share shall be $0.25 (the “Exercise
Price”). 
 c. Restrictions on Transfer and Registration Rights. 
 i. Each certificate for any Warrant Shares issued upon the exercise of this Warrant, and each certificate issued upon the transfer of any
such Warrant Shares and each American Depositary Receipt representing American Depositary Shares (except as otherwise permitted by this Section 2(c)) shall be stamped or otherwise imprinted with a legend in substantially the following form:

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO SUCH SECURITIES UNDER THE ACT AND REGISTRATION OR QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAW OR AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION AND QUALIFICATION IS NOT REQUIRED. 
 ii. The
restrictions imposed by this Section 2(c) upon the transferability of Warrants and Warrant Shares and related American Depositary Shares shall cease and terminate as to any particular Warrants, Warrant Shares or related American Depositary
Shares, (a) when such securities shall have been effectively registered under the Securities Act and disposed of in accordance with the registration statement covering such securities, or (b) when in the reasonable opinion of counsel for
the Company such restrictions are no longer required in order to comply with the Securities Act of 1933, as amended (the “Securities Act”). Whenever such restrictions shall terminate as to any Warrants, Warrant Shares or related American
Depositary Shares, the Holder thereof shall be entitled to receive from the Company, without expense, new certificates of like tenor not bearing the restrictive legend set forth in Section 2(c)(i). 
  

 10 

 d. Investment Representation. The Holder, by acceptance hereof, represents as of the date hereof,
as follows: 
 i. The Warrant Shares issuable upon exercise of the Warrants (collectively, the “Acquired
Securities”) will be acquired for investment for the Holder’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part of the Acquired Securities in contravention of applicable law, and that the
Holder has no present intention of selling, granting any participation in, or otherwise distributing the same. The Holder does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to
such person or to any third person in or with respect to any of the Acquired Securities. 
 ii. The Holder is and upon the
acquisition of Acquired Securities upon exercise of the Warrants will be an “accredited investor” within the meaning of Rule 501 of Regulation D of the rules and regulations of the Securities and Exchange Commission under the Securities
Act. The Holder has not been organized for the purposes of acquiring the Acquired Securities. 
 iii. The Holder understands
that the Acquired Securities it may acquire as contemplated by this Warrant are “restricted securities” within the meaning of Rule 144 under the Securities Act (“Rule 144”) inasmuch as they will be acquired from the Company in a
transaction not involving a public offering and that under the federal securities laws and, applicable regulations such Acquired Securities may be resold without registration under the Securities Act only in certain limited circumstances. In this
connection, the Holder represents that it is familiar with Rule 144 and understands the resale limitations imposed thereby and by the Securities Act. The Holder acknowledges that its investment in the Acquired Securities may be an illiquid
investment requiring the Holder to bear the economic risk of the investment for an indefinite period; and 
 iv. Without in
any way limiting the representations set forth in this Section 2(d), the Holder agrees not to make any disposition of all or any portion of the Acquired Securities unless and until the transferee has agreed in writing for the benefit of the
Company to be bound by the terms of this Warrant (provided that such Holder is making such disposition in a transaction other than pursuant to Rule 144 or under an effective registration statement under the Securities Act and in accordance with any
applicable state securities laws), and (A) the Holder shall have notified the Company of the proposed disposition, and (B) if requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, in form and
substance reasonably satisfactory to the Company, rendered by a law firm experienced in matters involving the sale of securities under federal and state securities laws, that such disposition will not require registration of the Acquired Securities
under the Securities Act or registration or qualification under any state securities or “blue sky” law. 
 In the event
certificates for Ordinary Shares are delivered upon the exercise of this Warrant, the Company may cause a legend or legends to be placed on such certificates to make appropriate reference to such foregoing representations and to restrict transfer in
the absence of compliance with applicable federal or state securities laws. 
  

 11 

 3. Transfer, Division and Combination. 
 The Company agrees to maintain at its offices in Napa, California, or such other place at which it may maintain its principal office in the continental United States of America, books for the registration and transfer
of this Warrant and, subject to the provisions of Section 2 hereof, this Warrant and all rights hereunder are transferable, in whole or in part, on such books at such office, upon surrender of this Warrant at such office, together with a
written assignment of this Warrant duly executed by the Holder or his agent or attorney and funds sufficient to pay any stock transfer taxes payable upon the making of such transfer. Upon such surrender and payment, the Company shall execute and
deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denominations specified in such instrument of assignment, and this Warrant shall promptly be canceled. Notwithstanding the foregoing, a Warrant may be exercised by
a new Holder for the purchase of Ordinary Shares without having a new Warrant issued if Holder shall otherwise have complied with the foregoing provisions of this Section 3 and the applicable provisions of Section 2 hereof. All of the
provisions of this Section 3 are subject to the provisions of Sections 2 above. This Warrant may be divided or combined with other Warrants upon surrender hereof and of any Warrant or Warrants with which this Warrant is to be combined, together
with a written notice specifying the names and denominations in which the new Warrant or Warrants are to be issued, signed by the holders thereof or their respective duly authorized agents or attorneys. The Company shall execute and deliver a new
Warrant or Warrants exchangeable for the Warrant or Warrants to be divided or combined in accordance with such notice. 
 4. Successor; Taxes.

 a. Successor Company. The obligations of the Company under this Warrant shall be binding upon any successor company or organization
resulting from the merger, consolidation or other reorganization of the Company, or upon any successor company or organization succeeding to substantially all of the assets and business of the Company. The Company agrees that it will make
appropriate provision for the preservation of Holder’s rights under this Warrant in any agreement or plan which it may enter into or adopt to effect any such merger, consolidation, reorganization or transfer of assets. 
 b. Taxes on Conversion. The issuance of certificates for Warrant Shares upon the exercise of this Warrant shall be made without charge to the
Holder exercising this Warrant for any issue or stamp tax in respect of the issuance of such certificates, and such certificates shall be issued in the respective names of, or in such names as may be directed by, the holder; provided, however, that
the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate in a name other than that of the Holder, and the Company shall not be required to issue or
deliver such certificates unless or until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.

  

 12 

 c. Withholding Taxes. 
 i. Except to the extent otherwise required by law, the Company will not withhold United States or United Kingdom withholding taxes from
payments to be made to holders of Warrants if such holders (a) are corporations organized under the laws of a jurisdiction outside the United States or United Kingdom or are otherwise persons not resident in the United States or United Kingdom
for U.S. federal income tax purposes or United Kingdom tax purposes, and (b) provide the Company, upon the Company’s reasonable request, with one or more of Internal Revenue Service Form W-8, Form 4224 or other applicable form, certificate
or document prescribed by the Internal Revenue Service of the United States or Inland Revenue of the United Kingdom certifying as to such holders’ entitlement to an exemption from any such withholding requirements. 
 ii. Except to the extent otherwise required by law, the Company will not withhold United States or United Kingdom withholding taxes from
payments to be made to holders of Warrants in excess of an applicable treaty rate if such holders (a) are corporations organized under the laws of a jurisdiction outside the United States or United Kingdom or are otherwise persons not resident
in the United States or United Kingdom for U.S. federal income tax purposes or United Kingdom tax purposes, and (b) provide the Company upon the Company’s reasonable request, with one or more of certification of their residence address,
Internal Revenue Service Form 1001 or other applicable form, certificates or documents certifying as to such holders’ entitlement to a reduced rate of withholding under any such withholding requirements. 
 iii. Except to the extent otherwise required by law, neither Section 4(c)(i) nor “Section 4(c)(ii) hereof shall require the
Company to apply an exemption or reduced rate of withholding during any period when it shall have received notice or has knowledge that (a) the residence or other information previously provided on any applicable form, certificate or document
is incorrect and no corrected form, certificate or document as applicable has been provided to the Company, or (b) of any other information which would render such exemption or reduced rate inapplicable. 
 iv. Notwithstanding the preceding Sections 4(c)(i) and 4(c)(ii), if the Company is required by law to withhold from amounts otherwise
payable to a holder of Warrants, whether by reason of a change in law or applicable treaty, or because the applicable treaty withholding rate is greater than zero or by reason of the failure of a holder of Warrants to provide a valid certification
or form, the Company shall withhold the amounts required to be withheld. Amounts so withheld with respect to a holder in accordance with this Section 4 shall be treated as distributed to such holder for all purposes of this Warrant. 

5. Adjustments to Aggregate Number. 
 The Aggregate Number
shall be subject to adjustment from time to time as follows and thereafter as adjusted shall be deemed to be the Aggregate Number hereunder. 
  

 13 

 a. Reorganization, Reclassification, Consolidation, Merger or Sale. If any capital reorganization
or reclassification of the Company, or any consolidation or merger of the Company with another person, or the sale, transfer or lease of all or substantially all of its assets to another person shall be effected in such a way that holders of
Ordinary Shares shall be entitled to receive stock, securities or assets with respect to or in exchange for their shares, then provision shall be made, in accordance with this Section 5, whereby the Holder hereof shall thereafter have the right
to purchase and receive, upon the basis and upon the terms and conditions specified in this Warrant and in addition to or in exchange for, as applicable, the Warrant Shares subject to this Warrant immediately theretofore purchasable and receivable
upon the exercise of the rights represented hereby, such securities or assets as would have been issued or payable with respect to or in exchange for the Aggregate Number immediately theretofore purchasable and receivable upon the exercise of the
rights represented hereby if exercise of the Warrant has occurred immediately prior to such reorganization, reclassification, consolidation, merger or sale. The Company will not effect any such consolidation, merger, sale, transfer or lease unless
prior to the consummation thereof the successor entity (if other than the Company) resulting from such consolidation or merger or the entity purchasing or leasing such assets shall assume by written instrument (1) the obligation to deliver to
such Holder such securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to purchase, and (2) all other obligations of the Company under this Warrant. The provisions of this Section 5(a) shall
similarly apply to successive consolidations, mergers, exchanges, sales, transfers or leases. 
 b. Distributions. If at any time or
from time to time the Company shall take a record of the holders of its Ordinary Shares for the purpose of entitling them to receive or pays any dividend or other distribution to holders of Ordinary Shares (collectively, a “Distribution”)
of: 
 i. cash, 
 ii. any evidences of its indebtedness (other than securities convertible into Ordinary Shares (“Convertible Securities”)), any shares of its capital stock (other than additional Ordinary Shares or
Convertible Securities) or any other securities or property of any nature whatsoever (other than cash) , or 
 iii. any
options or warrants or other rights to subscribe for or purchase any of the following: any evidences of its indebtedness (other than Convertible Securities), any shares of its capital stock (other than additional Ordinary Shares or Convertible
Securities) or any other securities or property of any nature whatsoever, 
 then the holder of this Warrant shall be entitled to receive upon the exercise
hereof at any time on or after the taking of such record the number of Ordinary Shares to be received upon exercise of such Warrant determined as stated herein and, in addition and without further payment, the cash, stock, securities, other
property, options, warrants and/or other rights to which such holder or holders would have been entitled by way of the Distribution and subsequent dividends and distributions if such Holder (x) had exercised such Warrants immediately prior to
such Distribution, and (y) had retained the Distribution in respect of the Ordinary Shares and all subsequent dividends and distributions of any nature whatsoever in respect of any stock or securities paid as dividends and distributions and
originating directly or indirectly from such Ordinary Shares. A reclassification of the Ordinary Shares into any other class of stock shall be 
  

 14 

 deemed a distribution by the Company to the holders of its Ordinary Shares or such shares of such other class of stock
within the meaning of paragraph (c) of this Section 5 and, if the outstanding Ordinary Shares shall be changed into a larger or smaller number of Ordinary Shares as a part of such reclassification, such event shall be deemed a subdivision
or combination, as the case may be, of the outstanding Ordinary Shares within the meaning of paragraph (c) of this Section 5. If the securities to be distributed by the Company involve rights, warrants, options or any other form of
Convertible Securities and the right to exercise or convert such securities would expire in accordance with its terms prior to the exercise of this Warrant, then the terms of such securities shall provide that such exercise or convertibility right
shall remain in effect until 30 days after the date the Holder of this Warrant receives such securities pursuant to the exercise hereof. 
 c. In addition to those adjustments set forth in Sections 5(a) and 5(b), but without duplication of the adjustments to be made under such Sections 5(a) and 5(b) and Section 6, if the Company: 
 i. takes a record of the holders of its Ordinary Shares for the purpose of entitling them to receive or pays a dividend payable in, or
other distribution of, Ordinary Shares; 
 ii. subdivides its outstanding shares of Ordinary Shares into a greater number of
Ordinary Shares; 
 iii. combines its outstanding Ordinary Shares into a lesser number of shares of Ordinary Shares; and/or

 iv. makes a distribution on its Ordinary Shares in shares of its capital stock other than Ordinary Shares, 
 then (A) the Aggregate Number in effect immediately prior thereto shall be adjusted so that the holder or holders of this Warrant shall thereafter be entitled to
receive, upon exercise hereof, the number of Ordinary Shares or other securities of the Company (such other securities thereafter enjoying the rights of Warrant Shares under this Warrant) that such Holder would have owned or have been entitled to
receive after the occurrence of such event had such Warrants been exercised immediately prior to the occurrence of such event or the record date with respect thereto, and (B) the Exercise Price shall (until another such event) be adjusted to
equal (calculated to the nearest full cent) the quotient derived by dividing (x) the Aggregate Number in effect immediately prior to such adjustment multiplied by the Exercise Price in effect immediately prior to such adjustment, divided by
(y) the Aggregate Number in effect after adjustment pursuant to this Section 5(c). 
 6. Adjustment to Exercise Price. 
 a. If the Company shall issue or sell any Ordinary Shares at a price which is less than the Exercise Price, then the Exercise Price in effect immediately
prior thereto shall be adjusted immediately so that the Exercise Price thereafter shall equal the price per Ordinary Share at which such Ordinary Shares described in this Section 6(a) were issued. The provisions of this paragraph (a) shall
not apply to any issuance of additional Ordinary Shares for which an adjustment is provided under Sections 5(a), (b) or (c). 
  

 15 

 b. If the Company shall take a record of the holders of its Ordinary Shares for the purpose of entitling
them to receive a distribution of, or shall in any manner issue or sell, any warrants or other rights to subscribe for or purchase (x) any shares of Ordinary Shares or (y) any Convertible Securities, whether or not the rights to subscribe,
purchase, exchange or convert thereunder are immediately exercisable, at a purchase price per Ordinary Share which is less than the Exercise Price, then the Exercise Price in effect immediately prior thereto shall be adjusted immediately so that the
Exercise Price thereafter shall equal the consideration for which such Ordinary Shares or Ordinary Shares subject to Convertible Securities described in this Section 6(b) were issued. For purposes of this Section 6(b), the consideration
for any additional Ordinary Shares issuable pursuant to any warrants or other rights to subscribe for or purchase the same or for any additional Ordinary Shares issuable pursuant to Convertible Securities subject to any warrants or other rights
shall be the consideration received or receivable by the Company for issuing such warrants or other rights, plus the additional consideration payable to the Company upon the exercise of such warrants or other rights and upon the exercise of the
Convertible Securities, as the case may be. 
 c. If the Company shall take a record of the holders of its Ordinary Shares for the purpose of
entitling them to receive a distribution of or shall in any manner issue or sell .Convertible Securities, whether or not the rights to exchange or convert thereunder are immediately exercisable, at a purchase price per Ordinary Share which is less
than the Exercise Price, then the Exercise Price in effect immediately prior thereto shall be adjusted immediately so that the Exercise Price thereafter shall equal the purchase price per Ordinary Share issuable pursuant to the terms of any
Convertible Securities. For purposes of this Section 6(c), the purchase price per Ordinary Share issuable pursuant to the terms of any Convertible Security shall be the cash consideration received or receivable by the Company for issuing the
Convertible Security, plus the additional consideration, if any, payable to the Company upon the purchase of the Ordinary Share pursuant to the Convertible Security. 
 7. General Provisions Regarding Adjustments to Aggregate Number or Exercise Price. 
 a. The following
provisions shall be applicable to the making of adjustments of (i) the Aggregate Number as provided in Section 5 or (ii) the Exercise Price as provided in Section 6: 
 i. The sale or other disposition of any issued Ordinary Shares owned or held by or for the account of the Company shall be deemed an
issuance thereof for the purposes of Sections 5 and 6. 
 ii. The adjustments required by Sections 5 and 6 shall be made
whenever and as often as any specified event requiring an adjustment shall occur, except as expressly provided herein. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of
its occurrence. 
  

 16 

 iii. In computing adjustments under Sections 5 and 6, fractional interests in Ordinary
Shares shall be taken into account to the nearest one-thousandth (.001) of a share and shall be aggregated until they equal one whole share. 
 iv. If the Company shall take a record of the holders of its Ordinary Shares for an action described in Sections 5 or 6 hereof, but abandons its plan to take such action prior to effecting such action, then no
adjustment shall be required by reason of the taking of such record. 
 v. Notwithstanding anything herein to the contrary, no
adjustment shall be made to the Aggregate Number or Exercise Price as a result of adjustments to the Aggregate Number or Exercise Price as defined in any Warrants issued to the Holder on the date hereof. 
 vi. Upon the expiration or termination of any of the warrants or other rights or options referred to in Section 6(b) above or the
Convertible Securities referred to in Section 6(b) or 6(c) above, the Exercise Price after the expiration or termination of any such warrants, rights, options or Convertible Securities without any exercise or conversion thereof, the issuance of
which caused an adjustment to the Exercise Price, shall be readjusted to such Exercise Price prior to the adjustment made upon the issuance of such warrants, rights, options or Convertible Securities. 
 vii. In case of the issuance at any time of any additional Ordinary Shares or Convertible Securities in payment or satisfaction of any
dividend upon any class of stock other than Ordinary Shares, the Company shall be deemed to have received for such additional Ordinary Shares or Convertible Securities a consideration equal to the amount of such dividend so paid or satisfied.

 viii. No adjustment to the Aggregate Number or Exercise Price shall be made for issuances of (A) options to purchase
up to 50,000 Ordinary Shares for any twelve month period after the date of this Warrant pursuant to any stock option plan or resolution of the Company, to the extent such issuances are approved by the Company’s directors and made to , or for
the benefit of, employees, Directors or consultants of the Company who were not employees, Directors or consultants of the Company as of the date of this Warrant , and Ordinary Shares issuable or issued upon exercise of such options,
(B) Ordinary Shares issued or issuable upon (x) the exercise of options, warrants or rights to subscribe for or purchase Ordinary Shares, or (y) the conversion or exchange of securities convertible into or exchangeable for Ordinary
Shares or options, warrants or rights to subscribe for or purchase Ordinary Shares, in each case only to the extent outstanding on the date of issuance of this Warrant or (D) Ordinary Shares issued pursuant to a transaction described in
Section 5(a) or (b) hereof. 
 ix. No adjustment of the Exercise Price shall be made in an amount less than one cent
per share, provided that any adjustments which are not required to be made by reason of this sentence shall be carried forward and shall be taken into account in any subsequent adjustment made. 
  

 17 

 b. If any event occurs as to which the provisions of Section 5 or Section 6 are not strictly
applicable but the lack of any provision for the exercise of the rights of a holder or holders of Warrants would not fairly protect the purchase rights of such holder or holders of Warrants in accordance with the essential intent and principles of
such provisions, then the Company shall appoint a firm of independent certified public accountants in the United States (which may be the regular outside auditors of the Company) of recognized national standing in the United States satisfactory to
the Holder, which shall give its opinion as to the adjustments, if any, necessary to preserve, without dilution, on a basis consistent with the essential intent and principles established in the provisions of Section 5 or Section 6, the
exercise rights of the holders of Warrants. Upon receipt of such opinion, the Company shall forthwith make the adjustments described therein. 
 c. Within 45 days after the end of each fiscal quarter during which an event occurred that resulted in an adjustment pursuant to Section 5 or Section 6, the Company shall cause to be promptly mailed to each holder of Warrants (and
upon the exercise of any Warrants to the exercising holder) by first-class mail, postage prepaid, notice of each adjustment or adjustments to the Aggregate Number or Exercise Price, as the case may be, effected since the date of the last such notice
and a certificate of the Company’s Chief Financial Officer or, in the case of any such notice delivered within 45 days after the end of a fiscal year, a firm of independent public accountants in the United States selected by the Company and
acceptable to a majority in interest of the holders of the Warrants (who may be the regular outside auditors employed by the Company), in each case, setting forth the Aggregate Number or Exercise Price, as the case may be, after such adjustment, a
brief statement of the facts requiring such adjustment and the computation by which such adjustment was made. The fees and expenses of such accountants shall be paid by the Company. 
 8. Covenant to Reserve Shares of Ordinary Shares. 
 The Company covenants and agrees that it will at all times reserve and set apart and have, free from preemptive rights, a number of shares of authorized but unissued Ordinary Shares sufficient to enable it at any time
to fulfill all its obligations hereunder. The issuance of such shares has been duly and validly authorized, and when issued and sold in accordance with the Warrants, such shares will be duly and validly issued, fully paid and nonassessable.

 9. Notices. In the event that: 
 1. the Company proposes to pay any dividend payable in stock (of any class or classes) or any obligations or stock convertible into or
exchangeable for shares of Ordinary Shares upon its Ordinary Shares or make any distribution (other than ordinary cash dividends) to the holders of its Ordinary Shares; 
 2. the Company proposes to grant to the holders of its Ordinary Shares generally any rights or warrants; 
 3. the Company proposes to effect any capital reorganization or reclassification of capital stock of the Company; 
  

 18 

 4. the Company proposes to consolidate with, or merge into, any other Company or to
transfer its property as an entirety or substantially as an entirety; 
 5. the Company proposes to effect the liquidation,
dissolution or winding up of the Company, or 
 6. the Company proposes to enter into any other issuance of securities or
other transaction that would implicate any increase or decrease in the number of Ordinary Shares ultimately issuable pursuant to this Warrant. 
 then the
Company shall cause notice of any such intended action to be given to the Holder of this Warrant not less than 30 days before the date on which the transfer books of the Company shall close or a record shall be taken for such stock dividend,
distribution or granting of rights or Warrants, or the date when such capital reorganization, reclassification, consolidation, merger, .transfer, liquidation, dissolution or winding up shall be effective, as the case may be. 
 Any notice or other document required or permitted to be given or delivered to the Holder of this Warrant shall be delivered in accordance with
Section 15 herein. 
 10. Limitation of Liability; Not Shareholders. 
 No provision of this Warrant shall be construed as conferring upon the Holder the right to vote or to consent or to receive dividends or to receive notice
as a shareholder in respect of meetings of shareholders for the election of directors of the Company or any other matter whatsoever as shareholders of the Company. No provision hereof, in the absence of affirmative action by the Holder to purchase
shares of Ordinary Shares, and no mere enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of Holder for the purchase price or as a shareholder of the Company, whether such liability is asserted by the
Company, creditors of the Company or others. 
 11. Loss, Destruction of Warrant. 
 Upon receipt of evidence satisfactory to the Company of the loss, theft, mutilation or destruction of this Warrant, and in the case of any such loss,
theft or destruction upon delivery of a bond of indemnity in such form and amount as shall be reasonably satisfactory to the Company (the original Warrant holder’s indemnity being satisfactory indemnity in the event of loss, theft or
destruction of any Warrant owned by such holder), or in the event of such mutilation upon surrender and cancellation of this Warrant, the Company will make and deliver a new Warrant, of like tenor and representing the right to purchase the same
Aggregate Number of Ordinary Shares, as adjusted in Section 5, as provided for in such lost, stolen, destroyed or mutilated Warrant, in lieu of such lost, stolen, destroyed or mutilated Warrant. Any Warrant issued under the provisions of this
Section 12 in lieu of any Warrant alleged to be lost, destroyed or stolen, or of any mutilated Warrant, shall constitute an original contractual obligation on the part of the Company. 
  

 19 

 12. Amendments. 
 Neither this Warrant nor any term hereof may be changed, waived, discharged or terminated orally or in writing, provided that any term of this Warrant may be amended or the observance of such term may be waived
(either generally or in a particular instance and either retroactively or prospectively) with, but only with, the written consent of the Company and the Holders of the Warrants that are exercisable for a number of Ordinary Shares that represent in
the aggregate at least a majority of the total number of Ordinary Shares for which all of the Warrants are then exercisable (whether or not the Holder of this Warrant consents). 
 Severability. 
 If in any jurisdiction, any
provision of this Agreement or its application to any party or circumstance is restricted, prohibited or unenforceable, such provision shall, as to such jurisdiction, be ineffective only to the extent of such restriction, prohibition or
unenforceability without invalidating the remaining provisions hereof and without affecting the validity or enforceability of such provision in any other jurisdiction or its application to other parties or circumstances. 
 14. Notice. 
 Any notice or
document required or permitted by this Agreement to be .given to a party hereto shall be in writing and is sufficiently given if delivered personally, or if sent by prepaid certified mail, return receipt requested, to such party addressed as
follows: 
  

					
	(i)	  	If to the Company:	  	Senetek Plc
		  		  	620 Airpark Road
		  		  	Napa, California 94558
		  		  	Attention: President
			
	(v)	  	If to the Holder:	  	c/o Robert T. Tucker, Esq.
		  		  	17 Meadowlark Road
		  		  	Rye Brook, New York 10573
			
		  	copies to:	  	Robert J. Sutcliffe
		  		  	601 West Fifth Street
		  		  	Suite 1111
		  		  	Los Angeles, California 90071
			
		  		  	And
		  		  	Michael Khoury
		  		  	7292 BerryHill Drive
		  		  	Rancho Palos Verses, California 90275

 Notice so mailed shall be deemed to have been given upon receipt if delivered personally or on the fifth business
day next following the date of the returned receipt. Any notice delivered to the 
  

 20 

 party to whom it is addressed shall be deemed to have been given and received on the day it is delivered. Any party may
from time to time notify the others in the manner provided herein of any change of address which thereafter, until changed by like notice, shall be the address of such party for all purposes hereof. 
 15. Governing Law; Choice Of Forum; Certain Consents; Waiver Of Jury Trial, Counterclaim, Setoff. 
 THIS WARRANT SHALL BE DEEMED TO HAVE BEEN EXECUTED AND DELIVERED. AT AND SHALL BE DEEMED TO HAVE BEEN MADE IN NEW YORK, NEW YORK. THIS WARRANT, AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY OF SUCH STATE’S CONFLICT OF LAWS RULES OR PRINCIPLES). ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT HERETO AND THERETO SHALL ONLY BE BROUGHT IN ANY STATE OR FEDERAL COURT IN THE BOROUGH OF MANHATTAN, NEW YORK CITY, NEW YORK, AND, BY EXECUTION, ACCEPTANCE AND DELIVERY OF THIS WARRANT, THE COMPANY HEREBY
IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS AND IRREVOCABLY WAIVES ANY OBJECTION, DEFENSE OR CLAIM TO SUCH JURISDICTION WHICH MAY BE BASED, DIRECTLY OR
INDIRECTLY, ON THE GROUNDS OF FORUM NON CONVENIENS THAT IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS WARRANT. IF ANY ACTION IS COMMENCED IN ANY OTHER JURISDICTION, THE PARTIES
HERETO HEREBY CONSENT TO THE REMOVAL OF SUCH ACTION TO THE AFOREMENTIONED COURTS. THE COMPANY FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES
THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY AT ITS ADDRESS, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE HOLDERS OF ANY OF THE WARRANTS OR WARRANT SHARES TO
SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN ANY OTHER JURISDICTION. THE COMPANY WAIVES IN EACH SUCH ACTION AND OTHER LEGAL PROCEEDING THE RIGHT TO TRIAL BY JURY AND THE
RIGHT TO ASSERT ANY COUNTERCLAIM OR SETOFF. 
 [signature page follows; remainder of page left intentionally blank] 
  

 21 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in its name by its duly
authorized officer. 
 Dated: March     , 2006 
  

			
	SENETEK PLC
		
	By:	 	 /s/ Frank J. Massino

	Name:	 	Frank J. Massino
	Title:	 	Chairman of the Board and Chief Executive Officer

 Exhibit 1 
 EXERCISE NOTICE 
 The undersigned Holder hereby elects to exercise purchase rights represented by such
Warrant for, and to purchase thereunder              Ordinary Shares covered by such Warrant and herewith makes payment in full therefor of
$             cash and/or by cancellation of $             of indebtedness of the Company to the Holder hereof and
requests that, subject to the terms and conditions of the Warrant, certificates for such shares (and any securities or property deliverable upon such exercise) be issued in the name of and delivered to
                                 whose address is
                                        ,
and whose social security or employer identification number is             . 
 The undersigned agrees that, in the absence of an effective registration statement with respect to Ordinary Shares issued upon this exercise, the undersigned is acquiring such Ordinary Shares for the Holder’s own account and not as a
nominee for any other party, for investment and not with a view to distribution thereof and that the certificate or certificates representing such Ordinary Shares may bear a legend substantially as follows: 
 THESE SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED IN
THE ABSENCE OF- A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO SUCH SECURITIES UNDER THE ACT AND APPLICABLE STATE SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 

In addition, the undersigned agrees that, in the absence of an effective registration statement with respect to Ordinary Shares issued upon this
exercise, stop transfer instructions -will be entered on the Company’s stock transfer records with respect to Ordinary Shares issued upon this exercise. 
  

					
	Dated:	 		 	  

		 		 	Signature guaranteed:

 FORM OF ASSIGNMENT 
 FOR VALUE RECEIVED the undersigned registered Holder of the within Warrant hereby sells, assigns, and transfers unto the Assignee(s) named below (including the undersigned with respect to any Warrants constituting a
part of the Warrants evidenced by the within Warrant not being assigned hereby) all of the right of the undersigned under the within Warrant, with respect to the number of Warrants set forth below: 
  

							
	 Name of Assignees
	  	Address	  	Social security or
other identifying
number of Assignees	  	Number of Warrants
		  		  		  	
		  		  		  	

 and does hereby irrevocably constitute and appoint.
             the undersigned’s attorney to make such transfer on the books of
                     maintained for that purpose, with full power of substitution in the premises. 
 Dated:
                             
  

			
	  
	 	(1)                    
	(Signature of Owner)	 	
		
	  
	 	
	(Street Address)	 	
		
	  
	 	
	(City) (State) (Zip Code)	 	

  

	(1)	The signature must correspond with the name as written upon the face of the within Warrant in every particular, without alteration or enlargement or any change whatsoever.

  

 24

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00102-of-00352.parquet"}]]