Document:

Exhibit 4.5

    
      Exhibit
        4.5

    

    
 

    AMENDING
      AGREEMENT

     

    THIS
      AMENDING AGREEMENT
      made as
      of September 5, 2006.

     

    B
      E T W E
      E N:

     

    Tm
      Bioscience Corporation,
      a
      corporation incorporated under the laws of the Province of Ontario 

     

    (hereinafter
      referred to as the “Corporation”)

     

    -and-

     

    Alan
      Coley

     

    an
      individual residing in the Province of Ontario 

     

    (hereinafter
      referred to as the “Executive”)

     

    WHEREAS
      the
      Corporation and the Executive are parties to an employment agreement dated
      July
      30,
      2002
      (the
“Employment
      Agreement”);

     

    AND
      WHEREAS
      the
      Corporation is concurrently with the execution of this Agreement granting to
      the
      Executive 93,792 options to purchase common shares in the capital of the
      Corporation pursuant to the terms and conditions of the Corporation’s Stock
      Option Plan (“ESOP”);

     

    AND
      WHEREAS
      the
      Executive understands and agrees that his receipt of such stock options granted
      pursuant to the ESOP is conditional upon his agreement to observe the
      restrictive covenants contained in this Agreement;

     

    NOW,
      THEREFORE,
      in
      consideration of the promises and mutual covenants herein, and other good and
      valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged, the parties hereto agree as follows:

     

     

    ARTICLE 1

    INTERPRETATION

     

    Section 1.1  Incorporation
      of Employment Agreement. 

     

    This
      Amending Agreement is supplemental to and shall be read in conjunction with
      the
      Employment Agreement, and the Employment Agreement and this Amending Agreement
      shall have effect so far as practicable as if all the provisions thereof and
      hereof were contained in one document.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section 1.2  Effect
      on the Employment Agreement.

     

    Except
      as
      specifically amended in the Amending Agreement, the Employment Agreement and
      its
      terms and conditions shall remain in full force and effect and are hereby
      ratified and confirmed.

     

     

    ARTICLE 2

    EFFECTIVE
      DATE OF AMENDMENTS

     

    Section 2.1  Effective
      Date of the Amendments.

     

    The
      amendments contained in this Amending Agreement shall become effective on
      September 5, 2006 and shall remain in effect until otherwise agreed to in
      writing by the parties or upon the termination of the Executive’s employment for
      any reason, whichever occurs first.

     

     

    ARTICLE 3

    AMENDMENTS
      TO THE EMPLOYMENT AGREEMENT

     

    Section 3.1  Amendment
      to Section 1.1 - Definitions

     

    
      	(1)  	
              The
                definitions of “Change of Control” and “Change of Control Notice Period”
                contained in the Employment Agreement are hereby
                deleted.

            

    

     

    
      	(2)  	
              The
                definition of “Notice Period” contained in the Employment Agreement is
                hereby deleted and substituted with the
                following:

            

    

     

    “Notice
      Period”
shall
      mean the period from the date on which the Executive was advised of the
      termination of his employment without Cause until twenty-four (24) months
      following the date of termination. 

     

    
      	(3)  	
              The
                definition of “Period” contained in the Employment Agreement is hereby
                deleted and substituted with the
                following:

            

    

     

    “Period”
means
      the period commencing on the Effective Date and ending twelve (12) months
      following the date of termination of the Executive’s employment with the
      Corporation for any reason. 

     

    Section 3.2  Amendments
      to Article 4

     

    
      	(1)  	
              Sections
                4.3, 4.4., 4.5 and 4.6 are hereby deleted and substituted with the
                following:

            

    

     

    Section
      4.3

     

    Following
      the termination of the Executive’s employment for any reason whatsoever, the
      Executive hereby agrees to resign from any offices, positions and directorships
      which he may have or may have held in the Corporation
      or in
      any of its affiliates or associates.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
      4.4

     

    Each
      of
      the Corporation and the Executive confirms that the provisions of Section 4.2(c)
      are reasonable and that the length of the notice of termination or the total
      amount payable, if any, as outlined therein has been agreed between them, or
      in
      the alternative is a reasonable pre-estimate of the damages which will be
      suffered by the Executive in the event of a termination without Cause, or a
      resignation for Good Reason and shall not be construed as a
      penalty.

     

    Section
      4.5

     

    In
      the
      event that the Corporation, in its sole discretion, determines that, without
      the
      express written consent of the Corporation, the Executive has breached any
      provisions of Sections 5, 6, 7, 8, 10 and 11, the Corporation shall have the
      right to suspend or terminate any or all remaining payments and/or benefits,
      if
      any, referenced in Section 4.2(c) of this Agreement. Such suspension or
      termination of payments and /or benefits shall be in addition to and shall
      not
      limit any and all other rights and remedies as set out in Section 9.1 of this
      Agreement that the Corporation may have against the Executive.

     

     

    ARTICLE 4

    MISCELLANEOUS

     

    Section 4.1  Independent
      Legal Advice.

     

    The
      Employee acknowledges, having been given sufficient opportunity to seek
      independent legal advice concerning the meaning and legal effect of this
      Amending Agreement. The Employee acknowledges that he understands the nature
      and
      consequences of this Amending Agreement.

     

    Section 4.2  Impact
      on Articles 6 and 7 of the Employment Agreement.

     

    The
      Executive acknowledges and agrees that the above noted amendment to the
      definition of Notice Period in Article 1.1 impacts the length of the period
      during which the Executive is restricted from competing and/or soliciting
      pursuant to the restrictive covenants contained in Articles 6 and 7 of the
      Employment Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section 4.3  Counterparts.

     

    This
      Amending Agreement may be executed in any number of counterparts and all such
      counterparts taken together shall be deemed to constitute one and the same
      instrument.

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Amending Agreement as of the date first
      specified above.

     

    
      	 	 	 	 
	/s/ Jim
              Pelot	 	 	/s/ Alan
              Coley
	
              
Witness	 	 	
              
Alan
              Coley
	 	 	 	 

    

     

    
      	 	 	 
	 	
              Tm
                BIOSCIENCE CORPORATION

            
	 
 	 
 	 
 
	Date: 	By:  	/s/ Gregory
              Hines
	 	
              
Gregory
              Hines
	 	President
              and Chief Executive OfficerExhibit 4.6

    Exhibit
      4.6

    EMPLOYMENT
      AGREEMENT

     

    MEMORANDUM
      OF AGREEMENT
      made at
      Toronto, Ontario, effective as of September 5, 2006 (the “Effective
      Date”).

     

    BETWEEN:

     

    Tm
      Bioscience Corporation,
      a
      corporation incorporated under the laws of the Province of Ontario,

     

    (hereinafter
      referred to as the “Corporation”)

     

    AND: 

     

    Richard
      Janeczko 

     

    an
      individual residing in the Province of Ontario 

     

    (hereinafter
      referred to as the “Executive”)

     

    WHEREAS
      the
      Corporation presently employs the Executive as Chief Scientific
      Officer;

     

    AND
      WHEREAS
      the
      Corporation wishes to continue to employ the Executive in such capacity and
      the
      Executive wishes to continue such employment;

     

    AND
      WHEREAS
      the
      parties wish to set forth, in writing, the terms and conditions relating to
      the
      Executive’s employment relationship with the Corporation;

     

    AND
      WHEREAS
      the
      Corporation is concurrently with the execution of this Agreement granting to
      the
      Executive 265,728 options to purchase common shares in the capital of the
      Corporation pursuant to the terms and conditions of the Corporation’s Stock
      Option Plan (“ESOP”);

     

    AND
      WHEREAS
      the
      Executive understands and agrees that his receipt of such stock options granted
      pursuant to the ESOP is conditional upon his agreement to observe the
      restrictive covenants contained in this Agreement;

     

    NOW,
      THEREFORE,
      for the
      reasons set forth above, and in consideration of the mutual promises and
      agreements hereinafter set forth and other good and valuable consideration
      (the
      receipt and sufficiency of which is hereby acknowledged), the Corporation and
      the Executive agree as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE 1

    INTERPRETATION

     

    Section 1.1  Definitions

     

    For
      the
      purpose of this Agreement, unless the context otherwise requires, the following
      words or expressions shall have the following meanings:

     

    “affiliate”
has
      the
      meaning given to that term in the Business
      Corporations Act
      (Ontario) as now in effect.

     

    “associate”
has
      the
      meaning given to that term in the Business
      Corporations Act
      (Ontario) as now in effect.

     

    “Board”
shall
      mean the Board of Directors of the Corporation

     

    “Business”
shall
      mean (i) the business of designing, manufacturing and marketing DNA microarrays
      for applications in human healthcare consisting of screening and diagnostics;
      (ii) any business hereafter conducted by the Corporation up to the termination
      of the Executive’s employment; or (iii) any business that the Corporation is in
      the process of developing (as reflected in a written business or strategic
      plan
      of the Corporation) at the time of the termination of the Executive’s
      employment. 

     

    “Business
      Day”
shall
      mean any day of the year, other than a Saturday, Sunday or any statutory holiday
      in Toronto, Ontario.

     

    “Cause”
shall
      mean 

     

    
      	(a)  	
              the
                failure or wilful refusal of the Executive to perform his duties
                and
                responsibilities hereunder as required under Section 2.2 of this
                Agreement
                that is not cured by the Executive within ten (10) days of written
                notification thereof to Executive by the
                Corporation;

            

    

     

    
      	(b)  	
              any
                fraudulent activity on the part of the Executive affecting the
                Corporation;

            

    

     

    
      	(c)  	
              the
                conviction of the Executive for any crime concerning the property
                of the
                Corporation or the Executive’s personal honesty or
                morality;

            

    

     

    
      	(d)  	
              any
                wilful and intentional act on the part of the Executive having the
                effect
                of materially injuring the reputation, business or business relationships
                of the Corporation; or

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(e)  	
              any
                other act or omission of the Executive which would in law permit
                an
                employer to, without notice or payment in lieu of notice, terminate
                the
                employment of an employee.

            

    

     

    “Confidential Information”
shall
      mean all information owned, possessed or controlled by the Corporation
      including, without limitation, all information related to developments,
      inventions, concepts, design specifications, creations, treatments, computer
      programs, methods, products, formula, formulations, hardwares or firmwares,
      drawings, reports, memoranda, specimens, financial, scientific, technical,
      manufacturing, process know how and marketing information and all names of
      or
      lists of clients and suppliers howsoever received by the Executive from, through
      or relating to the Corporation
      and in
      whatever form (whether oral, written, machine readable or otherwise), which
      pertains to the Corporation;
      provided, however, that the phrase “Confidential Information” shall not include
      information which:

     

    
      	(f)  	
              was
                in the public domain prior to the date of receipt by the
                Executive;

            

    

     

    
      	(g)  	
              is
                properly within the legitimate possession of the Executive prior
                to its
                disclosure hereunder, and without any obligation of confidence attaching
                thereto;

            

    

     

    
      	(h)  	
              becomes
                part of the public domain by publication or otherwise, not due to
                any
                unauthorized act or omission of the Executive;

            

    

     

    
      	(i)  	
              after
                disclosure, is lawfully received by the Executive from another Entity
                who
                is lawfully in possession of such Confidential Information and such
                other
                Entity was not restricted from disclosing the said information to
                the
                Executive;

            

    

     

    
      	(j)  	
              is
                approved, in writing, by the President for disclosure prior to its
                actual
                disclosure; or

            

    

     

    
      	(k)  	
              the
                Executive is required by law to disclose, provided that, unless prohibited
                by law, the Executive first notifies the Corporation at the first
                reasonable opportunity that he is required to disclose such Confidential
                Information.

            

    

     

    “Developments”
shall
      mean any
      idea,
      invention, concept, design specification, creation, development, treatment,
      computer program, method, process, apparatus, product, formula, formulation,
      hardware or firmware, any drawing, report, memoranda, specimen, article,
      literary work in connection with the Business, model, or letter and includes,
      without limitation, derivative work, draft versions and parts thereof, disks,
      tapes, files, listings, screen displays, enhancements and developments thereto,
      user manuals, marketing materials, demonstration reels, technical manuals,
      flow
      charts, log books and all supportive documentation relating to the foregoing,
      that:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	(a)  	
              result
                or derive from the Executive’s employment or from the Executive’s
                knowledge or use of Confidential
                Information;

            

    

     

    
      	(b)  	
              are
                made, developed or conceived by the Executive, either solely or jointly
                with others, during his employment, whether or not they were, are
                or will
                be made, developed or conceived during working
                hours;

            

    

     

    
      	(c)  	
              result
                from or derive from the use or application of the resources of the
                Corporation; or 

            

    

     

    
      	(d)  	
              relate
                to the Business of the Corporation.

            

    

     

    “Disability”
shall
      mean the Executive’s inability to substantially fulfil his duties on behalf of
      the Corporation for a continuous period of six (6) months or more or the
      Executive’s inability to substantially fulfil his duties on behalf of the
      Corporation for an aggregate period of six (6) months or more during any
      consecutive twelve (12) month period. If there is any disagreement between
      the
      Corporation and the Executive as to the Executive’s Disability or as to the date
      any such Disability began or ended, the same shall be determined by a physician
      mutually acceptable to the Corporation and the Executive. The determination
      by
      such physician shall be conclusive evidence of any such Disability and of the
      date any such Disability began or ended.

     

    “Entity”
shall
      mean any individual or other entity possessed of juridical personality,
      including, without limitation, a corporation, company, co-operative,
      partnership, trust, unincorporated association, affiliate or governmental body;
      and pronouns when they refer to an Entity shall have a similarly extended
      meaning.

     

    “Existing
      Customer”
shall
      mean any Entity who, in the twelve (12) months preceding the date of termination
      of the Executive’s employment hereunder for any reason, has (i) purchased or
      licensed from the Corporation
      (with
      the Executive’s knowledge) any product produced or service supplied, sold,
      licensed, or distributed by the Corporation,
      or (ii)
      supplied to the Corporation
      (with
      the Executive’s knowledge) any product to be produced, sold, licensed or
      distributed by the Corporation.

     

    “Good
      Reason”
shall
      mean:

     

    
      	(a)  	
              any
                change or series of changes in the responsibilities, status or reporting
                relationship of the Executive with the Corporation such that immediately
                after such change or series of changes the responsibilities or status
                or
                reporting relationship of the Executive are not at least substantially
                equivalent to those assigned to the Executive immediately prior to
                such
                change or series of changes, excluding for this purpose an isolated,
                insubstantial and inadvertent action not taken in bad faith and which
                is
                remedied by the Corporation promptly after receipt of notice thereof
                given
                by the Executive; 

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(b)  	
              any
                requirement by the Corporation that the Executive’s principal office be
                relocated to a location which is more than 100 kilometres from his
                then
                current location, provided, that the Executive has not acquiesced
                or
                agreed to any relocation that is more than 100 kilometres from his
                then
                current location; 

            

    

     

    
      	(c)  	
              a
                reduction by the Corporation in the Executive’s Base Salary, except as
                part of a general reduction in the annual base salary of all or
                substantially all of the senior executives of the Corporation which
                affects the Executive in substantially the same manner as the other
                senior
                executives who are also affected by such general reduction;
                

            

    

     

    
      	(d)  	
              the
                taking of any action by the Corporation which would materially adversely
                affect the Executive’s participation in or materially reduce the
                Executive’s incentive compensation, pension, stock option, life insurance,
                health, accident, disability benefits or other benefits in plans
                in which
                the Executive is participating, except in any such cases as part
                of the
                general reduction in benefits of all or substantially all of the
                senior
                executives of the Corporation which affects the Executive in substantially
                the same manner as the other senior executives who are also affected
                by
                such reduction; or

            

    

     

    
      	(e)  	
              any
                material breach or non-observance by the Corporation of any material
                provision of this Agreement, provided the Executive that has remained
                uncured following a period of thirty (30) days following written
                notice by
                the Executive to the Corporation.

            

    

     

    “Intellectual
      Property Rights”
      means
      all worldwide intellectual and industrial property rights in connection with
      the
      Developments including, without limitation:

     

    (i) patents,
      inventions, discoveries and improvements;

    (ii) ideas,
      whether patentable or not;

    (iii) copyrights;
      

    (iv) trademarks;

    (v) trade
      secrets; and

    (vi) industrial
      and artistic designs;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    including
      the right to apply for registration or protection of any of the foregoing,
      and
      includes proprietary, possessor and ownership rights and interests of all kinds
      whatsoever.

     

    “Notice
      Period”
shall
      mean the period from the date on which the Executive was advised of the
      termination of his employment without Cause until twenty-four (24) months
      following the date of termination. 

     

    “Period”
means
      the period commencing on the Effective Date and ending twelve
      (12)
      months
      following the date of termination of the Executive’s employment with the
      Corporation for any reason. 

     

    “Permitted Uses”
shall
      mean the use of Confidential Information by the Executive in the performance
      of
      his duties prescribed in Section 2.2.

     

    “President”
      shall
      mean the President and Chief Executive Officer of the Corporation.

     

    “Prospective Customer”
shall
      mean (i) any Entity solicited by the Executive on behalf of the Corporation
      for any
      purpose relating to the Business at any time during the one (1) year period
      immediately preceding the date of termination of the Executive’s employment
      hereunder for any reason; and (ii) any Entity solicited by the Corporation
      with the
      Executive’s knowledge for any purpose relating to the Business at any time
      during the one (1) year period immediately preceding the date of termination
      of
      the Executive’s employment hereunder for any reason.

     

    “Territory”
shall
      mean Canada and the United States of America. 

     

     

    ARTICLE 2

    SCOPE
      OF EMPLOYMENT

     

    Section 2.1  Term

     

    The
      Corporation hereby agrees to continue to employ the Executive, and the Executive
      hereby accepts such continued employment in the position of Chief Scientific
      Officer of the Corporation, for an indefinite term until terminated in
      accordance with the terms and conditions set forth in this
      Agreement.

     

    Section 2.2  Duties

     

    During
      the term of this Agreement, the Executive shall:

     

    
      	(a)  	
              perform
                those duties and responsibilities necessary or incidental to the
                functions
                of Chief Scientific Officer of the Corporation and any other duties
                as may
                be assigned to him from time to time by the
                Board;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(b)  	
              faithfully
                serve the Corporation and/or its affiliates and/or its associates,
                devote
                to the business and affairs of the Corporation the whole of his working
                time, attention and ability, and ensure that he is not at any time
                engaged
                in conduct which would significantly interfere with the performance
                of his
                duties under this Agreement or which would constitute a conflict
                with the
                interests of the Corporation.
                The Executive shall use his best efforts to promote the interests
                of the
                Corporation and to improve and extend the business
                thereof;

            

    

     

    
      	(c)  	
              (i)
                comply with all applicable laws, rules and regulations, and all
                requirements of all applicable regulatory, self-regulatory and
                administrative bodies; (ii) comply with the Corporation’s rules,
                procedures, policies, requirements and directions; and (iii) not
                engage in
                any other business or employment without the written consent of the
                Corporation except as otherwise specifically provided
                herein.

            

    

     

    Section 2.3  Reporting

     

    During
      the term of this Agreement, the Executive shall report to the President unless
      otherwise notified in writing by the Board. The Executive shall report on all
      matters relating to work and conditions of service in a manner and at the
      frequency as may be prescribed by the President from time to time. 

     

     

    ARTICLE 3

    REMUNERATION
      OF THE EXECUTIVE

     

    Section 3.1  Remuneration
      and Benefits

     

    As
      compensation for the performance by the Executive of his duties
      hereunder:

     

    
      	(a)  	
              the
                Corporation shall pay to the Executive a base salary at the rate
                of
                $206,000 per
                annum (the “Base
                Salary”)
                or such higher rate as may be determined from time to time by the
                Board.
                Such Base Salary shall be paid in accordance with the Corporation’s
                standard payroll practices in effect from time to
                time;

            

    

     

    
      	(b)  	
              the
                Executive shall be entitled to participate in all health and welfare
                benefit plans for employees of the Corporation in effect from time
                to
                time. 

            

    

     

    
      	(c)  	
              the
                Executive shall be eligible to participate in the Corporation’s pension
                plan(s) for senior management in effect from time to
                time;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(d)  	
              in
                respect of each full fiscal year, the Executive shall be eligible
                to
                participate in a performance based bonus plan for senior management
                in
                effect from time to time. Such participation shall not guarantee
                any
                entitlement under such bonus plan;

            

    

     

    
      	(e)  	
              the
                Executive shall be entitled to continue to participate in the
                Corporation’s Incentive Share Option Plan in effect from time to time;
                

            

    

     

    
      	(f)  	
              the
                Corporation shall, upon presentation of itemized receipts, reimburse
                the
                Executive for all travel and other business expenses directly and
                reasonably incurred by the Executive in the performance of his duties;
                and,

            

    

     

    
      	(g)  	
              the
                Executive shall be entitled to participate in the Executive Stock
                Option
                Plan in accordance with the terms and conditions of such plan.
                

            

    

     

    Section 3.2  Vacation

     

    During
      each year of this Agreement, the Executive shall be entitled to a paid vacation
      of four (4) weeks per year, to be taken at such time(s) mutually agreeable
      between the Executive and the Corporation. It is the responsibility of the
      Executive to ensure that his vacation is taken within the year in which it
      was
      accrued as there shall be no carry over of any unused vacation entitlement
      to a
      subsequent year unless so directed by the President.

     

     

    ARTICLE 4

    TERMINATION

     

    Section 4.1  Termination

     

    This
      Agreement may be terminated, at any time, for the following
      reasons:

     

    
      	(a)  	
              by
                the Corporation, for Cause;

            

    

     

    
      	(b)  	
              in
                the event of the death of the
                Executive;

            

    

     

    
      	(c)  	
              by
                the Corporation, in the event of a material violation of this Agreement
                (other than one constituting Cause) by the Executive where such violation
                has not been cured within two (2) weeks of written notice thereof
                by the
                Corporation to the Executive; 

            

    

     

    
      	(d)  	
              in
                the event of the Disability of the Executive;

            

    

     

    
      	(e)  	
              by
                the Corporation, without Cause and other than for the reasons in
                subsections 4.1(b), (c) and (d); 

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(f)  	
              by
                the Executive within thirty (30) days of the occurrence of any event
                constituting Good Reason; and

            

    

     

    
      	(g)  	
              by
                the Executive, upon the expiration of three (3) months written notice
                to
                the Corporation.

            

    

     

    Section 4.2  Payment
      Upon Termination

     

    In
      the
      event the Executive’s employment is terminated pursuant to Section 4.1, the
      Executive shall only be entitled to the following compensation and benefits
      upon
      termination:

     

    
      	(a)  	
              Should
                this Agreement be terminated pursuant to Subsection 4.1(a), (c) or
                (g),
                the Executive shall only be entitled to payment of the Executive’s Base
                Salary earned up to the date of termination plus an amount equal
                to the
                sum of: (i) the value of the pro-rated vacation leave with pay for
                that
                portion of the calendar year in which the employment of the Executive
                hereunder is terminated that the Executive was actively employed,
                to the
                extent such vacation entitlement has not been used by the Executive
                at the
                time of termination; and (ii) any accrued but unpaid business
                expenses at the date of termination required to be reimbursed under
                Section 3.1(g) of this Agreement.

            

    

     

    
      	(b)  	
              Should
                this Agreement be terminated pursuant to Subsection 4.1(b) or (d),
                the
                Executive shall only be entitled to: (i) payment of the Executive’s Base
                Salary earned up to the date of termination; (ii) a bonus for that
                portion
                of the year in which the Executive was actively employed. The amount
                of
                the bonus shall be calculated as follows: the product of (s) the
                average
                bonus paid to the Executive in the three (3) years prior to the year
                in
                which his employment is terminated divided by twelve (12), and (t)
                the
                number of months the Executive was actively employed in the year
                in which
                his employment is terminated; (iii) the value of the pro-rated vacation
                leave with pay for that portion of the calendar year in which the
                employment of the Executive hereunder is terminated that the Executive
                was
                actively employed, to the extent such vacation entitlement has not
                been
                used by the Executive at the time of termination; and (iv) any accrued
                but
                unpaid business expenses at the date of termination required to be
                reimbursed under Section 3.1(g) of this
                Agreement.

            

    

     

    
      	(c)  	
              Should
                this Agreement be terminated pursuant to Subsections 4.1(e) or 4.1(f),
                the
                Corporation shall:

            

    

     

    
      	(i)  	
              pay
                to the Executive (w) any accrued but unpaid Base Salary for services
                rendered to the date of termination, (x) a bonus for that portion
                of the
                year in which the Executive was actively employed (excluding the
                Notice
                Period). The amount of the bonus shall be calculated as follows:
                the
                product of (s) the average bonus paid to the Executive in the three
                (3)
                years prior to the year in which his employment is terminated divided
                by
                twelve (12), and (t) the number of months the Executive was actively
                employed (excluding the Notice Period) in the year in which his employment
                is terminated, (y) any accrued but unpaid expenses at the date of
                termination required to be reimbursed under Section 3.1(g) of this
                Agreement, and (z) the value of the pro-rated vacation leave with
                pay for
                that portion of the calendar year in which the employment of the
                Executive
                hereunder is terminated that the Executive was actively employed,
                to the
                extent such vacation entitlement has not been used by the Executive
                at the
                time of termination;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(ii)  	
              pay
                to the Executive, his Base Salary (less statutory deductions and
                withholdings) for the Notice Period. Payment shall be made by way
                of
                salary continuance paid on the Corporation’s regular pay day, and in
                accordance with its payroll practices at the date of termination;
                and

            

    

     

    
      	(iii)  	
              continue
                the Executive’s health and welfare benefits plans (excluding Short Term
                Disability (Sick Leave) and Long Term Disability benefits which disability
                benefits shall cease on the Executive’s last day of active employment) in
                which the Executive was participating at the date of termination,
                until
                the earlier of (x) the end of the Notice Period; or (y) the date the
                Executive becomes covered under a benefit plan, program or arrangement
                by
                a subsequent employer. The Corporation’s obligation pursuant to this
                provision is conditional on the Executive continuing to pay his share
                of
                the premiums. In the event that the Executive’s continued participation in
                any such health and welfare benefits plans of the Corporation is
                prohibited by the terms of such plans, the Corporation shall arrange
                to
                provide the Executive with an amount equal to the premiums the Corporation
                would have incurred (excluding premiums for Short Term Disability
                (Sick
                Leave) and Long Term Disability benefits) had the Executive continued
                to
                participate in such plans for the period ending on the earlier of
                (xx) the
                end of the Notice Period;
                or (yy) the date the Executive becomes covered under a benefit plan,
                program or arrangement by a subsequent employer.
                

            

    

     

    Section 4.3  Duties
      Upon Termination

     

    Following
      the termination of the Executive’s employment for any reason whatsoever, the
      Executive hereby agrees to resign from any offices, positions and directorships
      which he may have or may have held in the Corporation
      or in
      any of its affiliates or associates.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section 4.4  Release

     

    Each
      of
      the Corporation and the Executive confirms that the provisions of Sections
      4.2(c) are reasonable and that the length of the notice of termination or the
      total amount payable, if any, as outlined therein has been agreed between them,
      or in the alternative is a reasonable pre-estimate of the damages which will
      be
      suffered by the Executive in the event of a termination without Cause, or a
      resignation for Good Reason and shall not be construed as a
      penalty.

     

    Section 4.5  Suspension
      or Termination of Benefits and Compensation 

     

    In
      the
      event that the Corporation, in its sole discretion, determines that, without
      the
      express written consent of the Corporation, the Executive has breached any
      provisions of Sections 5, 6, 7, 8, 10 and 11, the Corporation shall have the
      right to suspend or terminate any or all remaining payments and/or benefits,
      if
      any, referenced in Section 4.2(c) of this Agreement. Such suspension or
      termination of payments and /or benefits shall be in addition to and shall
      not
      limit any and all other rights and remedies as set out in Section 9.1 of this
      Agreement that the Corporation may have against the Executive.

     

     

    ARTICLE 5

    CONFIDENTIAL
      INFORMATION

     

    Section 5.1  Confidential
      Information

     

    (1)  During
      the term of this Agreement and following the termination thereof, the Executive
      shall not use, divulge, diffuse, sell, transfer, give, circulate, or otherwise
      distribute to any Entity whatsoever or whomsoever, or otherwise make public,
      any
      Confidential Information.

     

    (2)  Notwithstanding
      any provision of this Agreement to the contrary, the Executive shall have the
      right to use Confidential Information in relation to Permitted Uses, in which
      event, the Executive shall, at all times, take all reasonable measures in order
      to prevent the disclosure or non-authorized use of such Confidential
      Information.

     

    (3)  Except
      when authorized in accordance with Permitted Uses, under no circumstances shall
      the Executive reproduce any Confidential Information without the prior written
      consent of the Corporation. All reproductions of Confidential Information shall
      be governed by this Agreement and shall be treated as Confidential Information
      hereunder.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (4)  Any
      document or work composed, assembled or produced by the Executive and containing
      Confidential Information (including, without limitation, all notes, extracts,
      text or references from which any Confidential Information can be implicitly
      or
      otherwise revealed or understood) shall be deemed to be Confidential Information
      within the meaning of this Agreement and shall be treated as such. The Executive
      shall not publish or release or allow the publication or release of any material
      containing Confidential Information without the prior written consent of the
      Corporation.

     

    Section 5.2  Corporation
      Property

     

    Confidential
      Information (including any reproduction thereof) shall remain the sole property
      of the Corporation and shall be returned to the Corporation immediately upon
      request to this effect or immediately after the termination of the Executive’s
      employment for any reason.

     

     

    ARTICLE 6

    OBLIGATION
      OF NON-COMPETITION

     

    Section 6.1  Non-Competition

     

    (1)  The
      Executive shall not (without the prior written consent of the Corporation),
      during the Period, on his own behalf or on behalf of any Entity, whether
      directly or indirectly, in any capacity whatsoever, alone, through or in
      connection with any Entity, carry on or be engaged in or have any financial
      or
      other interest in or be otherwise commercially involved in any endeavour,
      activity or business in all or part of the Territory which is competitive,
      in
      any way with the Business. 

     

    (2)  The
      Executive shall, however, not be in default under this Section 6 by virtue
      of
      the Executive holding, strictly for portfolio purposes and as a passive
      investor, no more than one percent (1%) of the issued and outstanding shares
      of
      or any other interest in, any body corporate which is listed on any recognized
      stock exchange, the business of which body corporate is in competition, in
      whole
      or in part, with the Business.

     

     

    ARTICLE 7

    OBLIGATION
      OF NON-SOLICITATION

     

    Section 7.1  Non-Solicitation

     

    The
      Executive shall not (without the prior written consent of the President), during
      the Period, on his own behalf or on behalf of any other Entity, whether directly
      or indirectly, in any capacity whatsoever, alone, through or in connection
      with
      any Entity:

     

    
      	(a)  	
              canvass
                or solicit the business of (or procure or assist the canvassing or
                soliciting of the business of) any Existing Customer or Prospective
                Customer for any purpose which is competitive with the Business;
                or

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	(b)  	
              accept
                (or procure or assist the acceptance of) any business from any Existing
                Customer or Prospective Customer which business is competitive with
                the
                Business; or

            

    

     

    
      	(c)  	
              supply
                (or procure or assist the supply of) any goods or services to any
                Existing
                Customer or Prospective Customer for any purpose which is competitive
                with
                the Business; or

            

    

     

    
      	(d)  	
              cause,
                directly or indirectly, any industrial or intellectual property of
                the
                Corporation, including without limitation, any trade-marks, copyrights,
                licences or know-how, to be used or employed by any Entity other
                than the
                Corporation; or

            

    

     

    
      	(e)  	
              employ,
                engage, offer employment or engagement to or solicit the employment
                or
                engagement of or otherwise entice away from the employment or engagement
                of the Corporation,
                any individual who is employed or engaged by the Corporation
                whether or not such individual would commit any breach of his/her
                contract
                or terms of employment or engagement by leaving the employ or the
                engagement of the Corporation;
                or

            

    

     

    
      	(f)  	
              procure
                or assist any Entity to employ, engage, offer employment or engagement
                or
                solicit the employment or engagement of any individual who is employed
                or
                engaged by the Corporation
                or
                otherwise entice away from the employment or engagement of the
                Corporation
                any such individual.

            

    

     

     

    ARTICLE 8

    NON-DISPARAGEMENT

     

    Section 8.1  Non-Disparagement

     

    The
      Executive covenants and agrees that he shall not engage in any pattern of
      conduct that involves the making or publishing of written or oral statements
      or
      remarks (including, without limitation, the repetition or distribution of
      derogatory rumours, allegations, negative reports or comments) which are
      disparaging, deleterious or damaging to the integrity, reputation or goodwill
      of
      the Corporation
      or its
      management.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ARTICLE 9

    RECOGNITION

     

    Section 9.1  Recognition

     

    (1)  The
      Executive hereby expressly recognizes that Sections 5, 6, 7, 8, 10 and 11 are
      of
      the essence of this Agreement and that the Corporation would not have entered
      into this Agreement without the inclusion of the said Sections.

     

    (2)  The
      Executive hereby further recognizes and expressly acknowledges that the
      Corporation would be subject to irreparable harm should any of the provisions
      of
      Sections 5, 6, 7, 8, 10 and 11 be infringed, or should any of the Executive’s
      obligations thereunder be breached by the Executive, and that damages alone
      will
      be an inadequate remedy for any breach or violation thereof and that the
      Corporation, in addition to all other remedies, shall be entitled as a matter
      of
      right to equitable relief, including temporary or permanent injunction to
      restrain such breach.

     

    (3)  The
      Executive hereby recognizes and expressly acknowledges that Sections 5, 6,
      7, 8, 10 and 11 grant to the Corporation only such reasonable protection as
      is
      admittedly necessary to preserve the legitimate interests of the Corporation,
      and the Executive acknowledges and agrees, in this respect, that the
      descriptions of the Business and Territory are reasonable.

     

    Section 9.2  Survival

     

    It
      is
      expressly agreed by the parties hereto that the provisions of Sections 5, 6,
      7,
      8, 9, 10 and 11 shall survive the termination of this Agreement and the
      termination of the Executive’s employment, for any reason. Any provision of this
      Agreement which is invalid, illegal or unenforceable in any jurisdiction shall,
      as to that jurisdiction, be ineffective to the extent of such invalidity,
      illegality or unenforceability, without affecting, in any way, the remaining
      provisions thereof in such jurisdiction or rendering that or any other provision
      of this Agreement invalid, illegal or unenforceable in any other
      jurisdiction.

     

     

    ARTICLE 10

    INVENTIONS
      

     

    Section 10.1  Invention
      Assignment

     

    
      	(a)  	
              All
                rights, titles and interests in or to the Developments shall vest
                and are
                owned exclusively by the Corporation immediately on its creation
                and
                regardless of the stage of its completion. The Executive irrevocably
                grants, transfers and assigns to the Corporation all of his right,
                title
                and interest, if any, in any and all Developments, including rights
                to
                translation and reproductions in all forms or formats and all Intellectual
                Property Rights thereto, if any, and he agrees that the Corporation
                may
                copyright said materials in the Corporation’s name and secure renewal,
                reissues and extensions of such copyrights for such periods of time
                as the
                law may permit. The Executive hereby waives, as against the Corporation,
                its successors and assigns and licensees, all his moral rights which
                he
                may have or will acquire in respect of the copyright in any Developments.
                The Executive agrees to enforce his moral rights as against others
                as
                directed by and at the cost of the Corporation or its successor-in-title
                of the copyright in the Developments.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	(b)  	
              At
                all times hereafter, the Executive agrees promptly to disclose to
                the
                Corporation all Developments, to execute separate written transfers
                or
                assignments to the Corporation at the Corporation’s request, and to assist
                the Corporation in obtaining any Intellectual Property Right in Canada,
                the United States and in any other countries, on any Developments
                granted,
                transferred or assigned to the Corporation that the Corporation,
                in its
                sole discretion, seeks to register. The Executive also agrees to
                sign all
                documents, and do all things necessary to obtain such Intellectual
                Property Rights, to further assign them to the Corporation, and to
                reasonably protect the Corporation against infringement by other
                parties
                at the Corporation’s expense with the Corporation’s prior written
                approval.

            

    

     

    
      	(c)  	
              The
                Executive shall keep complete, accurate, and authentic information
                and
                records on all Developments in the manner and form reasonably requested
                by
                Corporation. Such information and records, and all copies thereof,
                shall
                be the property of Corporation as to any Developments assigned to
                the
                Corporation. The Executive agrees to promptly surrender such information
                and records at the request of the Corporation. All these materials
                will be
                Confidential Information upon their
                creation.

            

    

     

     

    ARTICLE 11

    PROPERTY
      OF THE CORPORATION

     

    Section 11.1  Deliveries
      Upon Termination

     

    The
      Executive hereby agrees to return to the Corporation immediately upon the
      termination of the employment of the Executive hereunder and without making
      copies or disclosing information relating thereto, any and all documents,
      equipment and other property belonging to the Corporation. Without restricting
      the generality of the foregoing, the Executive shall return all credit cards,
      identification cards and keys belonging to the Corporation.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE 12

    NOTICES

     

    Section 12.1  Notices

     

    Any
      notice required or permitted to be given by a party hereto to the other shall
      be
      deemed validly given if personally delivered or mailed by registered prepaid
      post and addressed as follows:

     

    in
      the
      case of the Corporation to:

     

    Tm
      Bioscience Corporation

    439
      University Avenue

    Suite
      900

    Toronto,
      Ontario

    M5G
      1Y8

     

    Attention:
      President

    Telephone:
      (416)
      593-4323

    Facsimile:
      (416)
      593-1066

     

    with
      a
      copy to:

     

    Stikeman
      Elliott

    5300
      Commerce Court West

    199
      Bay
      Street

    Toronto,
      Ontario

    M5L
      1B9

     

    Attention:
      Curtis Cusinato

    Telephone:
      (416) 869-5221

    Facsimile:
      (416) 947-0866

     

    in
      the
      case of the Executive, to:

     

    Richard
      Janeczko

    3
      Highbourne Road

    Toronto,
      ON M5P 2J1

    

    Telephone: 905-339-3043

     

    

     

    Any
      notice so delivered or so mailed shall be deemed to be effected, if delivered,
      on the date of its delivery or, if mailed, on the fifth Business Day following
      the date of mailing. The Executive or the Corporation may change its address
      for
      service from time to time by notice given in accordance with the foregoing
      and
      any subsequent notice shall be sent to such party at his or its changed
      address.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ARTICLE 13

    MISCELLANEOUS

     

    Section 13.1  Assignment

     

    This
      Agreement may not be assigned by the Executive. This Agreement and the rights
      and obligations hereunder may, without the consent of the Executive, be assigned
      by the Corporation to any Entity which succeeds to all or substantially all
      of
      the business or property of the Corporation.

     

    Section 13.2  Governing
      Law

     

    This
      Agreement is to be governed by and construed and enforced in accordance with
      the
      laws of the Province of Ontario and the laws of Canada applicable
      therein.

     

    Section 13.3  Severability

     

    If
      any
      provision of this Agreement is invalid, illegal or incapable of being enforced
      for any reason, all other conditions and provisions of this Agreement shall
      nevertheless remain in full force and effect.

     

    Section 13.4  Entire
      Agreement

     

    This
      Agreement constitutes the entire agreement between the parties with respect
      to
      the subject matter contemplated herein and supersedes and replaces any provision
      of any other document heretofore entered into by them or by any predecessor
      of
      the Corporation with respect to the subject matter of this Agreement. This
      Agreement shall not be amended except by a written instrument hereafter signed
      by the Executive and the Corporation.

     

    Section 13.5  Successors
      and Assigns

     

    This
      Agreement shall enure to the benefit of and be binding upon the successors
      and
      assigns of the Corporation.

     

    Section 13.6  Amendment
      and Waiver

     

    No
      supplement, modification, amendment or waiver of this Agreement shall be binding
      unless executed in writing by the Executive and the Corporation. No waiver
      of
      any of the provisions of this Agreement shall constitute a waiver of any other
      provision (whether or not similar) nor shall such waiver constitute a continuing
      waiver unless otherwise expressly provided.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Section 13.7  Required
      Deductions For Withholdings

     

    The
      Corporation shall make such deductions and withholdings from any payments
      hereunder as may be required by law.

     

    Section 13.8  Independent
      Legal Advice

     

    The
      Executive acknowledges that he has been afforded the opportunity to obtain
      independent legal advice with respect to this Agreement and that he understands
      the nature and consequences of this Agreement.

     

    Section 13.9  
      Counterparts

     

    This
      Agreement may be executed by the parties in one or more counterparts, each
      of
      which when so executed and delivered shall be deemed to be an original and
      such
      counterparts shall together constitute one and the same instrument.

     

    IN
      WITNESS WHEREOF
      the
      parties hereto have executed this Agreement at the place and as of the date
      first mentioned above.

     

     

    
      	SIGNED, SEALED AND DELIVERED 	 )	 	 
	in the presence of 	 )	 	 
	 	 )	 	 
	 	 )	 	 
	/s/ Alan
              Coley	 )	 	/s/ Richard
              Janeczko
	
              

              Witness

            	 )	 	
              
Richard
              Janeczko
	
               

            	 	 	 

    

     

    
      	 	 	 
	 	
              Tm
                BIOSCIENCE CORPORATION

            
	 
 	 
 	 
 
	 	By:  	/s/ Gregory
              Hines
	 	
              

              Gregory
                Hines

            
	 	President

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