Document:

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NABI BIOPHARMACEUTICALS
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                                                                  EXHIBIT  10.31

                             NABI BIOPHARMACEUTICALS
                      5800 PARK OF COMMERCE BOULEVARD, N.W.
                            BOCA RATON, FLORIDA 33487

                            EFFECTIVE AS OF 11/11/02

Daniel Greenleaf
Basking Ridge, NJ 07920

Dear Dan:

You have agreed to serve as Sr. Vice President, Operations for Nabi
Biopharmaceuticals ("Nabi"). The following are the terms of such employment:

1. TERM: You will serve as a Sr. Vice President, Operations of Nabi for a period
beginning as of the date hereof and ending on 10/31/2005, unless your employment
is sooner terminated as provided below (the "Employment Period"). In the event
that your employment by the Company continues beyond the Employment Period, your
continued employment by the Company shall be on an at will basis and may be
terminated by either party upon thirty (30) days' prior notice unless you and
the Company shall have entered into a written renewal of this Agreement.

2. SALARY: Your salary will be $235,000 per year, payable bi-weekly during the
Employment Period. Your salary will be subject to discretionary annual increases
as determined by Nabi's Board of Directors.

3. BONUS: You will be entitled to participate in Nabi's VIP Management Incentive
Program. Unless the Employment Period is terminated for "cause" pursuant to
Section 7(B)(b) below, bonus compensation shall be pro rated in respect of any
calendar year during which the Employment Period terminates based on the amount
of bonus compensation which would have been payable with respect to such year
per your original VIP Management Incentive Program participation, divided by 12,
times the number of full calendar months during the relevant year you were
employed prior to the termination of the Employment Period. If the Employment
Period is terminated pursuant to Section 7 (B)(b) below, no bonus compensation
is payable with respect to the calendar year during which it is terminated.

Bonus payments shall be payable within 120 days after the end of the relevant
calendar year.

4. AUTO ALLOWANCE: While an employee under the terms of this Agreement, you
shall receive an auto allowance of not less than $900.00 per month.

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5. BENEFITS: During the Employment Period, you will be eligible to participate
in such fringe benefits programs as are accorded to other similarly situated
Nabi employees.

6. DUTIES AND EXTENT OF SERVICES:

(A) During the Employment Period, you agree to devote substantially all of your
working time, and such energy, knowledge, and efforts as is necessary to the
discharge and performance of your duties provided for in this Agreement and such
other reasonable duties and responsibilities consistent with your position as
are assigned to you from time to time by the person to whom you report. You
shall be located primarily in Nabi's Boca Raton, Florida facilities, but shall
travel to other locations from time to time as shall be reasonably required in
the course of performance of your duties.

(B) During the Employment Period, you shall serve as a Sr. Vice President,
Operations with "Operations" being defined as Manufacturing, Sales and
Marketing. You shall have such duties as are delegated to you by the person to
whom you report provided that such duties shall be reasonably consistent with
those duties assigned to executive officers having similar titles in
organizations comparable to Nabi.

7. TERMINATION:

(A) The Employment Period shall terminate upon your death. You may also
terminate the Employment Period upon thirty (30) days' prior written notice to
Nabi. Any termination pursuant to this Section 7(A) shall not affect any bonus
compensation applicable to the year of such termination, provided that any bonus
compensation payable pursuant to Section 3 of this Agreement shall be pro rated
as provided for in Section 3.

(B) Nabi may terminate the Employment Period in the event of (a) your inability
to perform the essential functions of your position, with or without reasonable
accommodation for any three (3) consecutive months as the result of mental or
physical incapacity (Nabi shall determine in good faith whether you are unable
to perform the essential functions of your position). This determination of
disability shall be made by a physician satisfactory to both you and Nabi,
provided that if you and Nabi do not agree on a physician, you and Nabi shall
each select a physician and these two together shall select a third physician,
whose determination as to disability shall be binding on all parties. or (b) for
"cause", which is defined as (i) commission of fraud or embezzlement or other
felonious acts by you, (ii) your refusal to comply with reasonable directions in
connection with the performance of your duties as provided for in Section 6 of
this Agreement after written notice of such failure is delivered to you, (iii)
failure to comply with the provisions of Section 9 or 10 of this Agreement or
(iv) your gross negligence in connection with the performance of your duties as
provided for in this Agreement, which gross negligence causes material damage to
Nabi, provided that, in the event of termination under this clause (b), you
shall receive ten (10) days' written notice prior to termination and a
determination must be made

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by Nabi's Board of Directors or a duly appointed committee of the Board, after
you are afforded an opportunity to be heard, that it is, at the date of such
termination, reasonable to conclude that grounds for such termination under this
clause (b) still exists.

(C) Nabi may otherwise terminate the Employment Period upon thirty (30) days'
prior notice to you.

(D) Your confidentiality and non-competition agreements set forth in Sections 9
and 10 below shall survive the termination of your employment regardless of the
reasons therefor.

8. SEVERANCE

(A) In the event that (a) your employment terminates pursuant to Section 7C or
(b) within thirty (30) days after the expiration of the Employment Period,
either you give notice of termination of employment to the Company or the
Company gives you notice of termination of employment other than for cause (as
defined above) or disability, and provided that within thirty (30) days prior to
the expiration of the Employment Period Nabi had not offered to renew this
Agreement on terms no less favorable to you than the terms then in effect, you
shall receive the benefits set forth in Section 8B, 8C and 8D. In the event your
employment terminates pursuant to Section 7B (a), or as a result of your death,
the benefit set forth in Section 8D shall be initiated.

(B) Based on the effective date of such termination, Nabi will pay you severance
pay of twelve (12) months of your annual base salary as in effect at the time of
such termination ("Severance Pay") and maintain in effect for a twelve (12)
month period such fringe benefits as are accorded to other similarly situated
employees (to the extent allowed under, and subject to the limitations of,
applicable plans). Severance Pay provided for in this paragraph shall be made in
twenty-six (26) equal bi-weekly installments.

(C) The Company shall pay up to $25,000 for outplacement services provided to
you by an organization selected by you.

(D) All non-vested stock options, restricted stock or similar incentive equity
instruments pursuant to the Company's 2000 Employee Non-Qualified Stock Option
Plan and/or successor plans (the "Options") shall immediately vest. All such
"Options" shall be exercisable for one (1) year past termination date, except
that no "Options" shall be exercisable beyond the original "Option" expiration
date. To the extent the terms of any "Options" are inconsistent with this
Agreement, the terms of this Agreement shall control.

(E) All payments or benefits to you under this Section 8 (other than payments or
benefits already accrued and otherwise due under Nabi's employee benefit plans
or programs, or as a result of your death) will not be given unless you execute
(and do not rescind) a written employment termination agreement in a form
prescribed by Nabi, which includes a general release of all claims against Nabi
and related parties with respect to all matters occurring prior to or on the
date of the release, including (but not limited to) employment matters or
matters in connection with your termination.

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9. CONFIDENTIALITY: You acknowledge that your duties as described in Section 6
of this Agreement will give you access to trade secrets and other confidential
information of Nabi and/or its affiliates, including but not limited to
information concerning production and marketing of their respective products,
customer lists, and other information relating to their present or future
operations (all of the foregoing, whether or not it qualifies as a "trade
secret" under applicable law, is collectively called "Confidential
Information"). You recognize that Confidential Information is proprietary to
each such entity and gives each of them significant competitive advantage.

Accordingly, you shall not use or disclose any of the Confidential Information
during or after the Employment Period, except for the sole and exclusive benefit
of the relevant company. Upon any termination of the Employment Period, you will
return to the relevant company's office all documents, computer electronic
information and files, e.g., diskettes, floppies etc. and other tangible
embodiments of any Confidential Information. You agree that Nabi may be
irreparably injured by any actual breach of your confidentiality agreement, that
such injury may not be adequately compensable by monetary damages, and that,
accordingly, the offended company may specifically enforce the provisions of
this Section by application for injunction or similar remedy by any court of
competent jurisdiction without affecting any claim for damages.

10. NON-COMPETITION:

(A) You acknowledge that your services to be rendered are of a special and
unusual character and have a unique value to Nabi the loss of which cannot
adequately be compensated by damages in an action at law. In view of the unique
value of the services, and because of the Confidential Information to be
obtained by or disclosed to you, and as a material inducement to Nabi to enter
into this Agreement and to pay to you the compensation referred to above and
other consideration provided, you covenant and agree that you will not, during
the term of your employment by Nabi and for a period of one (1) year after
termination of such employment for any reason whatsoever, you will not, directly
or indirectly, (a) engage or become interested, as owner, employee, consultant,
partner, through stock ownership (except ownership of less than five percent of
any class of securities which are publicly traded), investment of capital,
lending of money or property, rendering of services, or otherwise, either alone
or in association with others, in the operations, management or supervision of
any type of business or enterprise engaged in any business which is competitive
with any business of Nabi (a "Competitive Business"), (b) solicit or accept
orders from any current or past customer of Nabi for products or services
offered or sold by, or competitive with products or services offered or sold by,
Nabi, (c) induce or attempt to induce any such customer to reduce such
customer's purchase of products or services from Nabi, (d) disclose or use for
the benefit of any Competitive Business the name and/or requirements of any such
customer or (e) solicit any of Nabi's employees to leave the employ of Nabi or
hire or negotiate for the employment of any employee of Nabi. At the time any of
the provisions of Section 8 ("Severance") would be implemented, Nabi will
determine in good faith, and in writing to you, the specific organizations that
it defines as a "Competitive Business."

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(B) You have carefully read and considered the provisions of this Section and
Section 9 and having done so, agree that the restrictions set forth (including
but not limited to the time period of restriction and the world wide areas of
restriction) are fair and reasonable (even if termination is at our request and
without cause) and are reasonably required for the protection of the interest of
Nabi, its officers, directors, and other employees. You acknowledge that upon
termination of this Agreement for any reason, it may be necessary for you to
relocate to another area, and you agree that this restriction is fair and
reasonable and is reasonably required for the protection of the interests of
Nabi, their officers, directors, and other employees.

(C) In the event that, notwithstanding the foregoing, any of the provisions of
this Section or Section 9 shall be held to be invalid or unenforceable, the
remaining provisions thereof shall nevertheless continue to be valid and
enforceable as though invalid or unenforceable parts had not been included
therein. In the event that any provision of this Section relating to time period
and/or areas of restriction shall be declared by a court of competent
jurisdiction to exceed the maximum time period or areas such court deems
reasonable and enforceable, said time period and/or areas of restriction shall
be deemed to become, and thereafter be, the maximum time period and/or area
which such court deems reasonable and enforceable.

(D) With respect to the provisions of this Section, you agree that damages, by
themselves, may be an inadequate remedy at law, that an actual material breach
of the provisions of this Section may cause irreparable injury to the aggrieved
party, and that provisions of this Section 10 may be specifically enforced by
application for injunction or similar remedy in any court of competent
jurisdiction without affecting any claim for damages.

11. MISCELLANEOUS: This Agreement and the rights and obligations of the parties
pursuant to it and any other instruments or documents issued pursuant to it
shall be construed, interpreted and enforced in accordance with the laws of the
State of Florida, exclusive of its choice-of-law principles. This Agreement
shall be binding upon and inure to the benefit of the parties hereto, and their
respective successors and assigns. The provisions of this Agreement shall be
severable and the illegality, unenforceability or invalidity of any provision of
this Agreement shall not affect or impair the remaining provisions hereof, and
each provision of this Agreement shall be construed to be valid and enforceable
to the full extent permitted by law. To the extent any provision of this
Agreement is deemed to be illegal, unenforceable or invalid, the parties shall
in good faith agree upon an alternative provision that effects, to the maximum
extent practicable, the intent of the illegal, unenforceable or invalid
provision. In any suit, action or proceeding arising out of or in connection
with this Agreement, the prevailing party shall be entitled to receive an award
of the reasonable related amount of attorneys' fees and disbursements incurred
by such party, including fees and disbursements on appeal. This Agreement, along
with your offer letter of employment and the Change of Control Agreement, is a
complete expression of all agreements of the parties relating to the subject
matter hereof, and all prior or contemporaneous oral or written understandings
or agreements shall be null and void except to the extent set forth in this
Agreement, your offer letter of employment and the Change of Control Agreement.

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This Agreement cannot be amended orally, or by any course of conduct or dealing,
but only by a written agreement signed by the party to be charged therewith. All
notices required and allowed hereunder shall be in writing, and shall be deemed
given upon deposit in the Certified Mail, Return Receipt Requested, first-class
postage and registration fees prepaid, and correctly addressed to the party for
whom intended at its address set forth under its name below, or to such other
address as has been most recently specified by a party by one or more
counterparts, each of which shall constitute one and the same agreement. All
references to genders or number in this Agreement shall be deemed
interchangeably to have a masculine, feminine, neuter, singular or plural
meaning, as the sense of the context required.

If the foregoing confirms your understanding of our agreements, please so
indicate by signing in the space provided below and returning a signed copy to
us.

                            Nabi Biopharmaceuticals
                            5800 Park of Commerce Boulevard, N.W.
                            Boca Raton, Florida 33487

                            BY: /s/ Thomas McLain
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                               Thomas H. McLain
                               Executive Vice-President, Chief Operating Officer

Accepted and agreed:

 /s/ Daniel Greenleaf
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Daniel Greenleaf
Basking Ridge NJ 07920

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NABI BIOPHARMACEUTICALS
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                                                                   EXHIBIT 10.32

                            INDEMNIFICATION AGREEMENT

         This Indemnification Agreement is made and entered into this 11 day of
September, 2000, between Nabi (the "Company") and Mark Smith (the "Indemnitee"),
and is effective retroactively to the date of hire of the Indemnitee by Company.

PRELIMINARY STATEMENT

         The board of directors of the Company has determined that highly
competent persons will be difficult to retain unless they are adequately
protected against liabilities incurred in performance of their services on
behalf of the Company, and the Company's By-laws authorize the Company to enter
into and perform Indemnification Agreements for this purpose.

         Therefore, the board of directors has determined that it is in the best
interests of the Company to attract and retain persons such as the Indemnitee by
providing adequate protection against such liabilities by means of
Indemnification Agreements with persons such as the Indemnitee.

         NOW, THEREFORE, in consideration of the promises and covenants
contained herein and as an inducement to the Indemnitee to continue as an
employee of the Company, the Company and the Indemnitee, intending to be legally
bound, do hereby agree as follows:

                  1. The Indemnitee agrees to serve as an employee of the
         Company until the Indemnitee's resignation by written notice to the
         Company or the Indemnitee's removal, whichever occurs earliest.

                  2. The Company agrees to indemnify and hold harmless the
         Indemnitee, with respect to any action taken or omitted by the
         Indemnitee while serving as an employee of the Company, to the fullest
         extent permissible under applicable law, as such law may be amended or
         supplemented from time to time. The Indemnitee's indemnification rights
         shall include but not be limited to the rights contained in the
         following paragraphs, except to the extent expressly prohibited by
         applicable law.

                  3. The Company shall indemnify and hold harmless the
         Indemnitee from and against expenses (including attorneys' fees and
         disbursements), judgments, damages, fines (including any excise taxes
         assessed on a person with respect to an employee benefit plan) and
         amounts paid in settlement actually and reasonably incurred by the
         Indemnitee in connection with any threatened, pending or contemplated
         action, suit or proceeding, or appeal thereof, whether civil, criminal
         or administrative, or in connection with any internal or external
         investigation (other than an action by or in the right of the Company)
         if the Indemnitee was or is a "party" (as used in this Agreement,
         "party" shall include the giving of testimony or similar involvement)
         or threatened to be made a party to such action, suit or proceeding by
         reason of the fact that the Indemnitee is or was a director, officer,
         employee or agent of the Company, or is or was serving at the request
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         of the Company as a director, officer, employee or agent of another
         corporation, partnership, joint venture, trust or other enterprise
         (including employee benefit plans); provided, however, that the
         Indemnitee shall be entitled to such indemnification only if the
         Indemnitee acted in good faith and in a manner the Indemnitee
         reasonably believed to be in or not opposed to the best interests of
         the Company, and, with respect to any criminal action or proceeding,
         the Indemnitee had no reasonable cause to believe such conduct was
         unlawful. The term "serving at the request of the Company" shall
         include any service as a director, officer, employee or agent of the
         Company which imposes duties on, or involves services by, such
         director, officer, employee or agent with respect to an employee
         benefit plan, its participants, or beneficiaries. A person who acted in
         good faith and in a manner he reasonably believed to be in the interest
         of the participants and beneficiaries of an employee benefit plan shall
         be deemed to have acted in a manner "not opposed to the best interests
         of the Company."

                  4. The Company shall indemnify and hold harmless the
         Indemnitee from and against expenses (including attorneys' fees and
         disbursements), and amounts paid in settlement, actually and reasonably
         incurred by the Indemnitee in connection with the defense or settlement
         of any threatened, pending or completed action or suit, or appeal
         thereof, by or in the right of the Company to procure a judgment in its
         favor if the Indemnitee was or is a party or threatened to be a party
         to such action or suit by reason of the fact that the Indemnitee is or
         was a director, officer, employee or agent of the Company, or is or was
         serving at the request of the Company as a director, officer, employer
         or agent of another corporation, partnership, joint venture, trust or
         other enterprise; provided, however, that the Indemnitee shall be
         entitled to such indemnification only if the Indemnitee acted in good
         faith and in a manner reasonably believed by the Indemnitee to be in or
         not opposed to the best interests of the Company and except that no
         indemnification shall be made in respect of any claim, issue or matter
         as to which such person shall have been adjudged to be liable in the
         performance of such person's duty to the Company if and to the extent
         that the court in which such action or suit was brought shall determine
         that the Indemnitee is not entitled to such indemnification.

                  5. The Company currently has in force policies of Directors
         and Officers Liability Insurance (the "D&O Policy"). The Company shall
         not be liable under this Indemnification Agreement for any amount of
         any claim for which the Indemnitee has been paid under the D&O Policy
         or under any other valid insurance policies maintained in the future by
         the Company for Indemnitee's benefit. The Company shall not be required
         to maintain the D&O Policy presently in effect or to replace such
         policy if, in the judgment of the board of directors of the Company,
         the cost of such policy is not reasonable in relation to the coverage
         provided. If the Company so decides not to maintain the current D&O
         Policy or replace it with policies with similar coverage, the Company
         agrees, in addition to and not in limitation of the indemnification
         otherwise provided for by this Indemnification Agreement, to indemnify
         and hold harmless the Indemnitee to the extent of coverage which would
         have been provided by the D&O Policy to the fullest extent permissible
         under applicable law.

                  6. Expenses incurred by the Indemnitee in connection with any
         action, suit, proceeding, or appeal thereof, described in Paragraphs 3
         and 4 above, shall be paid by the Company in advance of the final
         disposition of such action, suit or proceeding within twenty (20) days
         of receipt of an undertaking by the Indemnitee to repay such amount if

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         it is ultimately determined by the board of directors, Independent
         Counsel (as defined below), the shareholders or a court, as provided in
         Paragraph 9 of this Indemnification Agreement, that the Indemnitee is
         not entitled to be indemnified by the Company or not entitled to full
         indemnification by the Company.

                  7. The Indemnitee's right to indemnification and advancement
         of expenses as set forth in this Indemnification Agreement shall not be
         exclusive of other rights the Indemnitee may have under applicable law,
         other agreements between the Company and the Indemnitee, the
         Certificate of Incorporation or By-laws of the Company, by vote of
         disinterested directors of the Company or by vote of the shareholders
         of the Company.

                  8. The indemnification and advancement of expenses provided
         by, or granted pursuant to, this Indemnification Agreement shall
         continue after the Indemnitee has ceased to be an employee of the
         Company and shall inure to the benefit of the heirs, executors and
         administrators of the Indemnitee.

                  9. Upon written request by the Indemnitee for indemnification
         under Paragraphs 3 and 4 above, a determination regarding the
         Indemnitee's entitlement to such indemnification shall be made by (1)
         the board of directors of the Company by a majority vote of a quorum
         consisting of directors who are not parties to the action, suit,
         settlement or proceeding, or (2) if such a quorum is not obtainable,
         or, even if obtainable, a quorum consisting of disinterested directors
         so directs, by Independent Counsel, as defined below, in a written
         opinion, or (3) by the shareholders of the Company. "Independent
         Counsel" shall mean a law firm or member of a law firm that has not
         within the last five (5) years represented the Company or the
         Indemnitee in a matter material to either or in a matter material to
         any other party to the action, suit or proceeding giving rise to the
         Indemnitee's claim for indemnification under this Indemnification
         Agreement. Independent Counsel shall not include any member of a law
         firm who would have a conflict of interest under applicable standards
         of professional conduct in representing the Company or the Indemnitee
         in an action hereunder. Such Independent Counsel shall be chosen by the
         board of directors of the Company and approved by the Indemnitee. Upon
         failure of the board of directors to choose, or the Indemnitee to
         approve, Independent Counsel, Independent Counsel shall be selected by
         the Chancellor of the State of Delaware or by an appointee of the
         Chancellor. Determination of entitled to indemnification shall be made
         within thirty (30) days of receipt by the Company of a written request
         for indemnification by the Indemnitee. The Indemnitee's request to the
         Company shall be accompanied by any documentation reasonably available
         to the Indemnitee relating to the Indemnitee's entitlement to be
         indemnified. All reasonable expenses (including attorneys' fees and
         disbursements) relating to the Indemnitee's request for indemnification
         under this Indemnification Agreement shall be paid by the Company
         regardless of the outcome of the determination as to the Indemnitee's
         entitlement to indemnification. If such determination is unfavorable to
         the Indemnitee or if the Indemnitee has made no request for
         indemnification hereunder or no determination is otherwise made, the
         Indemnitee may within two (2) years after such determination, or, if no
         determination has been made, within two (2) years after the Indemnitee
         has incurred the expense or otherwise made a payment for which the
         Indemnitee seeks indemnification, petition the Court of Chancery of the
         State of Delaware or any other court of competent jurisdiction to
         determine whether the Indemnitee is entitled to indemnification under

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         the terms of this Indemnification Agreement or otherwise. The
         Indemnitee shall not be prejudiced in such judicial proceeding by a
         prior determination that the Indemnitee is not entitled to
         indemnification. The Company shall be precluded from asserting in such
         judicial proceeding that it is not bound by the provisions of this
         Indemnification Agreement. The Company shall pay all expenses
         (including attorneys' fees and disbursements incurred or at trial or on
         one or more appeals) actually and reasonably incurred by the Indemnitee
         in connection with such judicial determination.

                  10. If any action, suit or proceeding described in Paragraphs
         3 and 4 above shall be terminated by judgment, order, settlement or
         conviction or upon a plea of NOLO CONTENDERE or its equivalent, no
         presumption shall be created that the Indemnitee did not act in good
         faith and in a manner which he reasonably believed to be in or not
         opposed to the best interests of the Company, and, with respect to any
         criminal action or proceeding, that the Indemnitee had reasonable cause
         to believe that his conduct was unlawful.

                  11. In each request made by Indemnitee for indemnity or
         advancement of expenses under this Indemnification Agreement, the
         Indemnitee shall be presumed to have satisfied the required standard of
         conduct and any and all other conditions precedent to such indemnity
         and/or advancement, unless and until the contrary is established.

                  12. Notwithstanding any other provision of the Indemnification
         Agreement, the Company shall not be liable to indemnify the Indemnitee
         under this Indemnification Agreement in connection with any claim
         against Indemnitee:

                           (a) for which the Indemnitee is indemnified by the
                  Company other than under this Indemnification Agreement;

                           (b) if a court of competent jurisdiction has rendered
                  a final decision that indemnification relating to the claim
                  would be unlawful;

                           (c) if pursuant to Section 16(b) of the Securities
                  Exchange Act of 1934, as amended, or similar provisions of any
                  state or federal statutory law, the claim is for an accounting
                  of profits made from the purchase and sale by the Indemnitee
                  of securities of the Company;

                           (d) if a final decision by a court of competent
                  jurisdiction shall adjudge the Indemnitee's conduct to have
                  been knowingly fraudulent or deliberately dishonest and to be
                  material to the claim adjudicated by the court; or

                           (e) if the claim was based upon the Indemnitee's
                  deriving an unlawful personal benefit and a court of competent
                  jurisdiction adjudges that such benefit was unlawful in a
                  final decision.

                  13. If any provision of this Indemnification Agreement or the
         application thereof to any particular facts or circumstances shall be
         held to be invalid, illegal or unenforceable, the validity, legality
         and enforceability of the remaining provisions (including portions of
         any paragraph of this Indemnification Agreement containing an invalid,
         illegal or unenforceable provision) and the application thereof to
         facts or circumstances other than those as to which it is held invalid,
         illegal, or unenforceable shall not be impaired or affected thereby.
         This Indemnification Agreement shall be construed to be valid and
         enforceable to the full extent allowed by law, and any invalid, illegal

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         or unenforceable provision of this Indemnification Agreement shall be
         modified as necessary to comply with all applicable laws.

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

                  15. This Indemnification Agreement shall be governed by, and
         construed in accordance with, the laws of the State of Delaware
         applicable to contracts made and wholly performed in such state.

                  16. All notices or other communication hereunder shall be in
         writing and shall be deemed to be effective and to have been duly given
         if delivered by certified mail postage prepaid, return receipt
         requested, to the respective parties, as follows:

                  If to the Company:

                           Nabi
                           5800 Park of Commerce Boulevard, N.W.
                           Boca Raton, FL  33487
                           Attention: President & CEO

                  If to Indemnitee:

                           Mark Smith
                           Boca Raton, FL 33428

         or to such other address as a party may have furnished to the other in
         writing in accordance with this paragraph, except that notices of
         change of address shall only be effective upon receipt.

                  17. This Indemnification Agreement shall be binding upon the
         Company and its successors and assigns and shall inure to the benefit
         of (and be enforceable against the Company by) the Indemnitee and the
         Indemnitee's heirs, executors and administrators.

                  18. No amendment of this Indemnification Agreement shall be
         binding unless executed in writing by both parties hereto. No waiver of
         any provision of this Indemnification Agreement shall constitute a
         waiver of any other provision hereof.

                  19. The Indemnitee shall notify the Company in writing within
         thirty days after being served with any summons, citation, subpoena,
         complaint, indictment, information or other document relating to any
         matter concerning which the Indemnitee may be entitled to
         indemnification hereunder, but the failure to give such notice shall
         not affect the Company's obligation to indemnify the Indemnitee to the
         extent provided for herein or otherwise.

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         IN WITNESS WHEREOF, the parties hereto have caused this Indemnification
Agreement to be duly executed and signed as of the day and year first above
written.

Nabi:                                       Indemnitee

By:  /s/ David J Gury                       By:  /s/ Mark Smith
     ----------------                            ------------------

Name:  David J. Gury                        Name: Mark Smith
       ----------------------                     ---------------------------

Title: President & CEO                      Title: Senior Director Finance, CAO
       ----------------------                      -----------------------------

Date:                                       Date: 9/11/2000
      ---------------                             ---------

                                       6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]