DURECT CORP
EX-10.28
<DOCUMENT>
<TYPE>EX-10.28
<SEQUENCE>3
<FILENAME>drrx-ex1028_1193.htm
<DESCRIPTION>EX-10.28
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drrx-ex1028_1193.htm
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<p style="text-align:right;margin-bottom:12pt;margin-top:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">Exhibit 10.28</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.41%;"><a name="_Hlk85972763"></a><a name="_Hlk85972763"></a>Certain information identified by bracketed asterisks ([***]) has been omitted from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. The omitted information will be filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted information.</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">LICENSE AGREEMENT</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">by and between</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">DURECT CORPORATION</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">and</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">INNOCOLL PHARMACEUTICALS LIMITED</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">dated</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 21, 2021</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">TABLE OF CONTENTS</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Page</font></p>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;"><font style="text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;">Article&#160;1 DEFINITIONS; INTERPRETATION</font></p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-weight:normal;font-style:normal;font-variant: normal;font-family:Times New Roman;font-size:12pt;">5</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.1</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Active Ingredient&#8221;5</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.2</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Affiliate&#8221;5</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.3</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Annual Net Sales&#8221;6</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.4</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Applicable Law&#8221;6</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.5</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Assigned Trademark&#8221;6</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.6</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Business Day&#8221;6</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.7</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Commercialization&#8221;6</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.8</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;[***]&#8221;6</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.9</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Control&#8221; or &#8220;Controlled&#8221;7</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.10</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Cover&#8221;7</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.11</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Data&#8221;7</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.12</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Develop&#8221;7</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.13</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Exploit&#8221; or &#8220;Exploiting&#8221; or &#8220;Exploited&#8221; or &#8220;Exploitation&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.14</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;FDA&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.15</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Field&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.16</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Financial Exhibit&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.17</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;First Commercial Sale&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.18</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;IND&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.19</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Intellectual Property&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.20</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Invention&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.21</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Know-How&#8221;8</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.22</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Licensed Know-How&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.23</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Licensed Patents&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.24</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Licensed Product&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.25</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Licensed Technology&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.26</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Licensed Territory&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.27</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Manufacture&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.28</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;NDA&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.29</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;NDA Approval&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.30</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Net Sales&#8221;9</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.31</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Orange Book Eligible Patent&#8221;11</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.32</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Patent&#8221;11</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.33</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Person&#8221;11</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.34</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Post-Approval Activities&#8221;11</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.35</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Product-Specific Licensed Patent Claim&#8221;11</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.36</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Prosecution&#8221;11</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.37</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Reformulations&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.38</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Regulatory Approval&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.39</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Regulatory Exclusivity&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-i</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\127839505.14</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">TABLE OF CONTENTS</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Continued)</p>
<p style="text-align:right;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Page</font></p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.40</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Regulatory Material&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.41</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Retained Territory&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.42</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Royalties&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.43</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;[***] DMF&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.44</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;[***]&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.45</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Third Party&#8221;12</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.46</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.47</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.48</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Transaction Agreements&#8221;13</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.49</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.50</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&#8220;Valid Claim&#8221;13</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.51</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Additional Definitions13</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.52</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Interpretation14</p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;"><font style="text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;">Article&#160;2 LICENSES / ALLIANCE MANAGEMENT</font></p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-weight:normal;font-style:normal;font-variant: normal;font-family:Times New Roman;font-size:12pt;">15</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.1</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">License Grant15</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.2</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">No Other Rights16</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.3</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Negative Covenants16</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.4</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Excluded Activities16</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.5</font></p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;"><font style="text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;">Article&#160;3 DEVELOPMENT; REGULATORY MATTERS</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.3</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.2</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.3</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Prosecution of Licensed Patents24</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.4</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.5</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Enforcement of Licensed Patents25</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.6</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;"><font style="text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;">Article&#160;8 CONFIDENTIALITY</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.1</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.2</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Authorized Use and Disclosure27</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.3</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.4</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.5</font></p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;"><font style="text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;font-variant: normal;">Article&#160;9 REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION</font></p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-transform:uppercase;font-weight:normal;font-style:normal;font-variant: normal;font-family:Times New Roman;font-size:12pt;">29</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.1</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.3</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.4</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.5</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.3</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Consequences of Bankruptcy36</p></td>
<td valign="top" style="width:11.11%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.4</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Notices37</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.5</font></p></td>
<td valign="top">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Waiver38</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.6</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Severability38</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.7</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Entire Agreement/Modification38</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.8</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Relationship of the Parties38</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.9</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Force Majeure38</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.10</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Compliance with Applicable Law39</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.11</font></p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Counterparts39</p></td>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:14.81%;margin-right:11.11%;text-indent:-7.41%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-iv</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\127839505.14</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-top:0pt;margin-bottom:0pt;text-indent:7.41%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXECUTION COPY</p>
<p style="text-align:right;margin-top:0pt;margin-bottom:0pt;text-indent:7.41%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CONFIDENTIAL</p>
<p style="text-align:right;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">LICENSE AGREEMENT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Agreement"></a><a name="EffectiveDate"></a><a name="OLE_LINK1"></a><a name="DocXTextRef15"></a><a name="DocXTextRef16"></a><a name="DocXTextRef17"></a><a name="DocXTextRef18"></a><a name="DURECT"></a><a name="Party"></a><a name="Parties"></a><a name="Agreement"></a>This LICENSE AGREEMENT (the &#8220;<font style="font-weight:bold;">Agreement</font>&#8221;) is effective as of December&#160;<a name="EffectiveDate"></a>21, 2021 (the &#8220;<font style="font-weight:bold;">Effective Date</font>&#8221;) by and between Innocoll Pharmaceuticals Limited, <a name="OLE_LINK1"></a>a company incorporated in Ireland having company number 395965 <a name="DocXTextRef15"></a>and having its registered office at 70<a name="DocXTextRef16"></a> Sir John Rogerson&#8217;s Quay, Dublin 2<a name="DocXTextRef17"></a>, D02<a name="DocXTextRef18"></a> R296, Ireland (&#8220;<font style="font-weight:bold;">INNOCOLL</font>&#8221;), and Durect Corporation, a Delaware corporation having a place of business at 10260 Bubb<a name="DURECT"></a> Road, Cupertino, California 95014 (&#8220;<font style="font-weight:bold;">DURECT</font><a name="Party"></a>&#8221;).&nbsp;&nbsp;INNOCOLL and DURECT may each be referred to herein by name or, individually, as a &#8220;<font style="font-weight:bold;">Party</font><a name="Parties"></a>&#8221; and, collectively, as the &#8220;<font style="font-weight:bold;">Parties</font>.&#8221; </p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">BACKGROUND</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK17"></a><a name="OLE_LINK18"></a>A.<font style="margin-left:36pt;">DURECT owns and controls rights in and to the pharmaceutical product known as POSIMIR</font><sup style="font-size:85%;line-height:120%;vertical-align:top">&#174;</sup><a name="OLE_LINK17"></a><a name="OLE_LINK18"></a>, which comprises bupivacaine and DURECT&#8217;s proprietary carrier materials and systems known as the SABER<sup style="font-size:85%;line-height:120%;vertical-align:top">&#174;</sup> formulation platform technology; and</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">B.<font style="margin-left:36pt;">INNOCOLL desires to obtain the right to commercialize Licensed Product in the Field in the Licensed Territory (each, as defined below), and DURECT desires to grant INNOCOLL such rights, all on the terms and conditions of this Agreement.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the mutual covenants and agreements provided herein below and other consideration, the receipt and sufficiency of which is hereby acknowledged, INNOCOLL and DURECT hereby agree as follows:</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463903991"></a><a name="_Ref476839394"></a><a name="_Ref476839403"></a><a name="_Ref476839407"></a><a name="_Ref476839412"></a><a name="_Toc85207203"></a><a name="_Toc90923727"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;1</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463903991"></a><a name="_Ref476839394"></a><a name="_Ref476839403"></a><a name="_Ref476839407"></a><a name="_Ref476839412"></a><a name="_Toc85207203"></a><a name="_Toc90923727"></a>DEFINITIONS; INTERPRETATION</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following capitalized terms shall have the meanings given in this Article&#160;1 or elsewhere in this Agreement when used in this Agreement:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463903992"></a><a name="_Toc90923728"></a><a name="_Ref463903993"></a><font style="Background-color:#auto;text-decoration:none;">1.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Active Ingredient</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means bupivacaine [(i.e., (<font style="font-style:italic;">RS</font>)-1-Butyl-<font style="font-style:italic;">N</font>-(2,6-dimethylphenyl) piperidine-2-carboxamide)].</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923729"></a><a name="_Ref463903994"></a><font style="Background-color:#auto;text-decoration:none;">1.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Affiliate</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">  means with respect to a Person, any other Person controlling, controlled by or under common control with such first Person, for so long as such control exists.&nbsp;&nbsp;For purposes of this Section&#160;1.2 only, &#8220;control&#8221; means (a)&#160;direct or indirect ownership of fifty percent (50%) or more of the stock or shares having the right to vote for the election of directors of such Person or (b)&#160;the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such Person, whether through the ownership of voting securities, by contract or otherwise.</p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\127839505.14</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923730"></a><a name="_Ref463903995"></a><font style="Background-color:#auto;text-decoration:none;">1.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Annual Net Sales</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to a calendar year, the aggregate Net Sales throughout the Licensed Territory during such calendar year.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923731"></a><a name="_Ref463903996"></a><font style="Background-color:#auto;text-decoration:none;">1.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Applicable Law</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to a Person&#8217;s activities under this Agreement, any and all laws, ordinances, orders, rules, rulings, directives and regulations of any kind whatsoever of any governmental authority (including the FDA), national securities exchanges or securities listing organizations applicable to such Person&#8217;s activities.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923732"></a><a name="_Ref83892600"></a><a name="_Ref463903997"></a><font style="Background-color:#auto;text-decoration:none;">1.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Assigned Trademark</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the trademark listed on Exhibit&#160;1.5.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923733"></a><a name="_Ref89255002"></a><font style="Background-color:#auto;text-decoration:none;">1.6</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Business Day</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any day other than a Saturday, Sunday or any other day on which commercial banks in San Francisco, California or Dublin, Ireland are authorized or required by law to remain closed.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923734"></a><a name="_Ref463903999"></a><font style="Background-color:#auto;text-decoration:none;">1.7</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Commercialization</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to a pharmaceutical product (including Licensed Product), any and all processes and activities conducted to prepare for and establish and maintain sales for such product, including offering for sale, detailing (including physician targeting), promoting, marketing, advertising, pricing, seeking and securing reimbursement, branding, selling, storing of finished products, transporting and distributing such product.&nbsp;&nbsp;For clarity, Commercialization includes (a) medical support planning, medical affairs activities, medical education activities and other activities traditionally conducted by medical scientific liaisons, health economics and outcomes researchers and other individuals having similar functions, including gathering and maintaining user feedback and establishing and maintaining one or more call centers in connection therewith, (b) the conduct of any Post-Approval Activities, including all regulatory matters in support thereof or otherwise necessary to maintain any NDA Approval.&nbsp;&nbsp;&#8220;<font style="font-weight:bold;">Commercialize</font>&#8221; and &#8220;<font style="font-weight:bold;">Commercialized</font>&#8221; has a correlative meaning.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923735"></a><a name="_Ref469669821"></a><font style="Background-color:#auto;text-decoration:none;">1.8</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">[***]</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means with respect to [***] by a Party with respect to an agreed [***] as such Party would [***] taking into account the [***] of such Party&#8217;s [***], including, with respect to a [***], or otherwise [***], those efforts and [***] as applied by [***] and resources to [***] (as applicable) of its own products that are at a [***], taking into account performance of [***] issues.&nbsp;&nbsp;[***] shall be [***], and it is anticipated that the [***] and may change over time, reflecting changes in the [***] and [***] involved.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923736"></a><font style="Background-color:#auto;text-decoration:none;">1.9</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Control</font><font style="color:#000000;">&#8221; or &#8220;</font><font style="font-weight:bold;color:#000000;">Controlled</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="AcquisitionTransaction"></a><a name="AcquiringEntities"></a> <a name="AcquisitionTransaction"></a>means, with respect to any material, information or Intellectual Property right, that either Party including its Affiliates (a)&#160;owns or (b)&#160;has a license to such material, information, or Intellectual Property right and, in each case (a)&#160;and (b), has the ability to grant to the other Party access, a license, or a sublicense (as applicable) to the foregoing on the terms and conditions set forth in this Agreement without giving rise to any violation of the terms of any written agreement with any Third Party.&nbsp;&nbsp;Notwithstanding anything to the contrary in this Agreement, in the event that a Third Party merges or consolidates with or acquires DURECT, or DURECT transfers to a Third Party all or substantially all of its assets to which this Agreement relates (such Third Party and its Affiliates immediately prior to such merger, consolidation or transfer (the &#8220;<font style="font-weight:bold;">Acquisition Transaction</font><a name="AcquiringEntities"></a>&#8221;), collectively, the &#8220;<font style="font-weight:bold;">Acquiring Entities</font>&#8221;), the following shall not be deemed to be Controlled by DURECT for purposes of this Agreement: (a) any subject matter (and </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-6-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">associated Intellectual Property rights) owned or controlled by any Acquiring Entity immediately prior to the effective date of such Acquisition Transaction, and (b) any subject matter (and associated Intellectual Property rights) independently developed or acquired by or on behalf of any Acquiring Entity after an Acquisition Transaction, without accessing or practicing or reliance on any subject matter within the Licensed Technology or Confidential Information of INNOCOLL</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923737"></a><a name="_Ref463904000"></a><font style="Background-color:#auto;text-decoration:none;">1.10</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Cover</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to any subject matter, the Development, Manufacture, use, sale, offering for sale, import or other Exploitation of such subject matter would infringe a Valid Claim of a Patent (in the absence of a license under or ownership of such claim) at the time and in the jurisdiction thereof.&nbsp;&nbsp;For clarity, with respect to a Valid Claim which is a pending claim of an application, such claim shall be deemed issued as then prosecuted for purposes of determining whether subject matter &#8220;infringes&#8221;.&nbsp;&nbsp;&#8220;<font style="font-weight:bold;">Covered</font>&#8221; or &#8220;<font style="font-weight:bold;">Covering</font>&#8221; have their correlative meanings.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923738"></a><a name="_Ref463904006"></a><font style="Background-color:#auto;text-decoration:none;">1.11</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Data</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any and all information, data, and results of research, preclinical studies, including <font style="font-style:italic;">in&#160;vitro</font> and <font style="font-style:italic;">in&#160;vivo</font> studies, clinical trials and other testing resulting from the Development, Manufacture or Commercialization of Licensed Product, including biological, chemical, pharmacological, toxicological, pharmacokinetic, preclinical, clinical, CMC, analytical, quality control, mechanical, software, electronic and other data, results and descriptions<font style="color:#000000;">.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923739"></a><font style="Background-color:#auto;text-decoration:none;">1.12</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Develop</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means all internal and external research, development, and regulatory activities related to pharmaceutical products (including Licensed Product), including (a) research, toxicology, nonclinical, and preclinical testing and activities, clinical trials, drug substance and drug product process development, product and process characterization, product and process qualification and validation, qualification and validation and stability testing of product from development, qualification, or validation batches, quality assurance and quality control of development, qualification, or validation batches, clinical studies, statistical analysis, and report writing and (b) preparation, submission, review, and development of Data or information for the purpose of submission to the FDA to obtain authorization to conduct clinical trials or to obtain, support, or maintain Regulatory Approval of a pharmaceutical product, and interacting with FDA following receipt of Regulatory Approval in the United States for such pharmaceutical product regarding the foregoing, including all other activities necessary or reasonably useful or otherwise requested or required by the FDA as a condition or in support of obtaining or maintaining a Regulatory Approval.&nbsp;&nbsp;Further, Development includes importing or exporting (including having imported or having exported) pharmaceutical products for purposes of development.&nbsp;&nbsp;&#8220;<font style="font-weight:bold;">Developing</font>,&#8221; &#8220;<font style="font-weight:bold;">Development</font>&#8221; and &#8220;<font style="font-weight:bold;">Developed</font>&#8221; will be construed accordingly.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923740"></a><font style="Background-color:#auto;text-decoration:none;">1.13</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Exploit</font><font style="color:#000000;">&#8221; or &#8220;</font><font style="font-weight:bold;color:#000000;">Exploiting</font><font style="color:#000000;">&#8221; or &#8220;</font><font style="font-weight:bold;color:#000000;">Exploited</font><font style="color:#000000;">&#8221; or &#8220;</font><font style="font-weight:bold;color:#000000;">Exploitation</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means to research, develop, make, have made, use, offer for sale, sell, import, export or otherwise exploit, or transfer possession of or title in, a product (including Licensed Product).</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923741"></a><font style="Background-color:#auto;text-decoration:none;">1.14</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">FDA</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the United States Food and Drug Administration, or any successor agency thereto.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923742"></a><a name="_Ref463904007"></a><font style="Background-color:#auto;text-decoration:none;">1.15</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Field</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means all uses and applications in humans.</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-7</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923743"></a><a name="_Ref463904008"></a><font style="Background-color:#auto;text-decoration:none;">1.16</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Financial Exhibit</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means Exhibit&#160;1.16.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923744"></a><a name="_Ref463904009"></a><font style="Background-color:#auto;text-decoration:none;">1.17</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">First Commercial Sale</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the first arm&#8217;s length sale of the Licensed Product by or on behalf of INNOCOLL or its Affiliates or sublicensees to a Third Party in the Licensed Territory; for clarity excluding any pre-launch activities, including advertising, education, product-related public relations, health care economic studies, governmental affairs activities for reimbursement and formulary acceptance, sales force training, transfers for use in Development, compassionate use (including named-patient programs) or as samples or use in a clinical trial.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923745"></a><font style="Background-color:#auto;text-decoration:none;">1.18</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">IND</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK6"></a><a name="OLE_LINK7"></a><a name="OLE_LINK2"></a><a name="OLE_LINK3"></a> <a name="OLE_LINK6"></a><a name="OLE_LINK7"></a><a name="OLE_LINK2"></a><a name="OLE_LINK3"></a>means Investigational New Drug application No. 66,086 for the Licensed Product. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923746"></a><font style="Background-color:#auto;text-decoration:none;">1.19</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Intellectual Property</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means all Patents, copyrights, design rights, trademarks, trade secrets, Know-How, and all other intellectual property rights (whether registered or unregistered) and all applications and rights to apply for any of the foregoing.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923747"></a><font style="Background-color:#auto;text-decoration:none;">1.20</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Invention</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any new and useful process, article of manufacture, compound, composition of matter, formulation or apparatus, or any improvement thereof, discovery or finding, whether or not patentable.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923748"></a><font style="Background-color:#auto;text-decoration:none;">1.21</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Know-How</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means (a) any commercial, technical, scientific, or other know-how or information, knowledge, practices, instructions, skills, procedures, experiences, ideas, technical assistance, designs, drawings, assembly procedures, computer programs, records, improvements, modifications, techniques, assays, physical, chemical or biological materials, designs, protocols, formulas, Data (including physical data, chemical data, toxicology data, animal data, raw data, clinical data, analytical and quality control data, Manufacturing data and know how, regulatory data, study designs, and protocols), dosage regimens, control assays, assay standards and references, cells, cell lines, animal models, product specifications, marketing, pricing and distribution costs, processes, methods, utilities, formulations, compositions of matter, articles of Manufacture, creations, discoveries, findings, algorithms, technology, profiles, strategies, plans, results in any form whatsoever, and trade secrets (in each case, whether or not patentable, copyrightable, or otherwise protectable), and (b) any physical embodiments of any of the foregoing.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923749"></a><font style="Background-color:#auto;text-decoration:none;">1.22</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Licensed Know-How</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means all Know-How (a) Controlled by DURECT during the Term, and (b) necessary or reasonably useful to maintain the NDA Approval for or Exploit the Licensed Product in the Field in the Licensed Territory. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923750"></a><a name="_Ref468097607"></a><font style="Background-color:#auto;text-decoration:none;">1.23</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Licensed Patents</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any Patent(s) (a) Controlled by DURECT during the Term (b) which Cover the Licensed Product, and (c) are necessary or reasonably useful to Exploit the Licensed Product in the Field in the Licensed Territory, including the Patents listed on <font style="text-decoration:underline;">Exhibit&#160;1.23</font>.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923751"></a><a name="_Ref89862695"></a><font style="Background-color:#auto;text-decoration:none;">1.24</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Licensed</font><font style="color:#000000;"> </font><font style="font-weight:bold;color:#000000;">Product</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any pharmaceutical product for injection or infiltration or similar manner of administration (a) comprising the Active Ingredient as the sole active pharmaceutical ingredient and (b) comprising [***], including the product described on <font style="text-decoration:underline;">Exhibit&#160;1.24</font> (the &#8220;<font style="font-weight:bold;">Initial Product</font>&#8221;) and any Reformulations thereof.&nbsp;&nbsp;For clarity, Licensed Product shall exclude </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-8</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">any product Controlled by INNOCOLL as of the Effective Date and any modification, revision, reformulation or improvement to any such product made after the Effective Date, </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">so long as such modification, revision, reformulation or improvement does not</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> use or</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> incorporate </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923752"></a><font style="Background-color:#auto;text-decoration:none;">1.25</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Licensed Technology</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the Licensed Know-How and Licensed Patents.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923753"></a><a name="_Ref469393717"></a><font style="Background-color:#auto;text-decoration:none;">1.26</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Licensed Territory</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the United States of America, including all of its territories and possessions.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref470168204"></a><a name="_Toc90923754"></a><font style="Background-color:#auto;text-decoration:none;">1.27</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Manufacture</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to any pharmaceutical product (including Licensed Product), any and all processes and activities conducted for the manufacture, production or processing of such pharmaceutical product, including manufacturing or having manufactured and formulating active pharmaceutical ingredients for incorporation into pharmaceutical product, packaging, physical and regulatory labeling, storing of finished products and other finishing activities, quality control and assurance testing, in each case, with respect to such pharmaceutical product and including the right to have one or more Third Parties conduct such activities.&nbsp;&nbsp;&#8220;<font style="font-weight:bold;">Manufacturing</font>&#8221; has a correlative meaning.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923755"></a><a name="_Ref463904010"></a><font style="Background-color:#auto;text-decoration:none;">1.28</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">NDA</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK4"></a><a name="OLE_LINK5"></a><a name="_cp_text_1_11"></a> <a name="OLE_LINK4"></a><a name="OLE_LINK5"></a>means New Drug Application No. 204803<a name="_cp_text_1_11"></a> filed with the FDA for Licensed Product. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923756"></a><font style="Background-color:#auto;text-decoration:none;">1.29</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">NDA Approval</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the FDA approval of the NDA.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923757"></a><a name="_Ref463904011"></a><font style="Background-color:#auto;text-decoration:none;">1.30</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Net Sales</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref463904017"></a><a name="SellingParty"></a><a name="_Ref463904017"></a> means, with respect to any period, the [***]<a name="SellingParty"></a> by INNOCOLL, its Affiliates or sublicensees (each, a &#8220;<font style="font-weight:bold;">Selling Party</font>&#8221;) to Third Parties (including [***]) in [***], less the following deductions [***]: </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#000000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:108pt;color:#000000;"></font><font style="color:#000000;"> [***]; </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#000000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:108pt;color:#000000;"></font><font style="color:#000000;"> [***], including [***];</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#000000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:108pt;color:#000000;"></font><font style="color:#000000;"> [***] </font>relating to <font style="color:#000000;">Licensed Product; </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#000000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:108pt;color:#000000;"></font><font style="color:#000000;"> [***]; </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:108pt;color:#000000;"></font><font style="color:#000000;"> [***]) [***]; and</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(f)</font><font style="margin-left:108pt;color:#000000;"></font><font style="color:#000000;"> [***];</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">provided that, in each case (a) through (g), (i)&#160;[***] is calculated [***] and in accordance [***], and (ii)&#160;[*** is directly [***] such that [***], and (iii) no [***] above shall be [***].&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the event that the Licensed Product is Commercialized in combination with one or more products which are themselves not the Licensed Product under this Agreement for a single price, the Net Sales for the Licensed Product will be calculated by [***] of the other product(s) in the combination sale.&nbsp;&nbsp;If the fair market value for any product sold in combination with the Licensed </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-9</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Product cannot be reasonably determined, the price attributed to such product will be </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;Where any reduction in the </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">invoice price or deduction (described in clauses (a) through (g), inclusive) therefrom is based on </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">in which the </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">is included, the </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[**</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">*]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">therefrom</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> will be on</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(excluding any </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK8"></a>In the event that a Selling Party makes any adjustments to the above deductions after the associated Net Sales have been reported pursuant to Paragraph II(c) of the Financial Exhibit, the adjustments [***].&nbsp;&nbsp;Net Sales shall not include [***]between or among [***], so long as such [***]to be based only on any subsequent [***].</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With respect to any sale of Licensed Product in the Licensed Territory for any consideration other than monetary consideration, Net Sales for such transactions will be calculated [***] (calculated as the would realize from an [***]of an identical [***]and at the same time and place [***]. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notwithstanding anything to the contrary herein, Net Sales shall not include [***].</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For clarity, Net Sales shall be calculated in accordance with [***].</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923758"></a><a name="_Ref463904020"></a><font style="Background-color:#auto;text-decoration:none;">1.31</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Orange Book Eligible Patent</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means an issued Patent in the Territory that Covers the (a) Initial Product, or (b) any approved method of use of the Initial Product. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923759"></a><font style="Background-color:#auto;text-decoration:none;">1.32</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Patent</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any of the following: (a)&#160;any issued patent, including inventor&#8217;s certificates, substitutions, extensions, confirmations, reissues, re-examination, renewal or any like governmental grant for protection of inventions; and (b)&#160;any pending application for any of the foregoing, including any continuation, continued prosecution application, divisional, substitution, continuation-in-part, provisional and converted provisional applications, in each case (a) or (b) existing at any time during the Term.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923760"></a><a name="_Ref463904021"></a><font style="Background-color:#auto;text-decoration:none;">1.33</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Person</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any individual, corporation, partnership, association, joint-stock company, trust, unincorporated organization or government or political subdivision thereof.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923761"></a><a name="_Ref463904023"></a><a name="_Ref470599437"></a><a name="_Ref470599474"></a><font style="Background-color:#auto;text-decoration:none;">1.34</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Post-Approval Activities</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref26352886"></a> <a name="_Ref26352886"></a>means any non-clinical or clinical activities conducted after the NDA Approval, including commitments required by the FDA as a condition of NDA Approval.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923762"></a><a name="_Ref463904024"></a><font style="Background-color:#auto;text-decoration:none;">1.35</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Product-Specific Licensed Patent Claim</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any Valid Claim of a Licensed Patent that Covers Licensed Product and recites [***] and the Active Ingredient as necessary elements of such claim.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923763"></a><a name="_Ref463904025"></a><font style="Background-color:#auto;text-decoration:none;">1.36</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Prosecution</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to a Patent, the filing, preparation, prosecution (including conducting all correspondence and interactions with the USPTO) and seeking, conducting and defending any interferences, inter partes reviews, reissue proceedings, reexaminations, (and similar proceedings), and maintenance thereof, including obtaining patent term extensions, or their equivalents with respect thereto.&nbsp;&nbsp;When used as a verb, &#8220;<font style="font-weight:bold;">Prosecute</font>&#8221; means to engage in Prosecution.</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-10</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923764"></a><a name="_Ref84457696"></a><a name="_Ref463904027"></a><font style="Background-color:#auto;text-decoration:none;">1.37</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Reformulations</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means[***].</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923765"></a><font style="Background-color:#auto;text-decoration:none;">1.38</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Regulatory Approval</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to a particular country or other regulatory jurisdiction, all approvals, product or establishment licenses, registrations, or authorizations (including approval of a marketing authorization application) of all applicable regulatory authorities in such country or jurisdiction necessary for the commercial marketing or sale of a pharmaceutical product in such country or other regulatory jurisdiction for one (1) or more indications.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923766"></a><font style="Background-color:#auto;text-decoration:none;">1.39</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Regulatory Exclusivity</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, with respect to a Licensed Product in the Territory, any exclusive marketing right, data protection, or other exclusive right, other than a Licensed Patent, conferred by FDA with respect to such Licensed Product.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923767"></a><font style="Background-color:#auto;text-decoration:none;">1.40</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Regulatory Material</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means regulatory applications (including the IND and NDA), submissions, notifications, communications, correspondence, registrations (including the NDA Approval) or other filings made to, received from or otherwise conducted with the FDA (including minutes of meetings with the FDA) that are Controlled by DURECT and are necessary or reasonably useful to Exploit Licensed Product in the Licensed Territory.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923768"></a><a name="_Ref463904028"></a><font style="Background-color:#auto;text-decoration:none;">1.41</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Retained Territory</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means all countries and territories throughout the world other than the Licensed Territory.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923769"></a><a name="_Ref22300281"></a><font style="Background-color:#auto;text-decoration:none;">1.42</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Royalties</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the royalty payments payable to DURECT during the Royalty Term pursuant to Paragraph II of the <font style="text-decoration:underline;">Financial Exhibit</font> (<font style="text-decoration:underline;">Exhibit&#160;1.16</font>).</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923770"></a><font style="Background-color:#auto;text-decoration:none;">1.43</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">[***] DMF</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has the meaning set forth in Section&#160;5.3.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923771"></a><font style="Background-color:#auto;text-decoration:none;">1.44</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">[***]</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any [***].&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923772"></a><a name="_Ref463904031"></a><font style="Background-color:#auto;text-decoration:none;">1.45</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Third Party</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means any Person other than INNOCOLL, DURECT or their respective Affiliates.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923773"></a><a name="_Ref463904032"></a><font style="Background-color:#auto;text-decoration:none;">1.46</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Third Party Licensee</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means Third Parties who have been or during the Term are granted the right to Exploit Licensed Product in the Retained Territory by DURECT.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923774"></a><font style="Background-color:#auto;text-decoration:none;">1.47</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Third Party Payments</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> shall mean the pro rata portion reasonably attributable to the Exploitation of Licensed Products of all payments (including for royalties, lump sum payments, upfront payments, costs, damages, judgements and awards) which INNOCOLL or its Affiliates or sublicensees pay to a Third Party for a license under Patents or Know-How owned or controlled by such Third Party that are necessary for the Exploitation of the Licensed Products in the Field in the Licensed Territory.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923775"></a><font style="Background-color:#auto;text-decoration:none;">1.48</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Transaction Agreements</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means, individually and collectively, the PV Agreement, Quality Agreement, Data Exchange Agreement, Initial Product Supply Agreement, Retained Territory Supply Agreement, Excipient Supply Agreement and CMO Excipient Supply Agreement, in each case, once executed.</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-11</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923776"></a><font style="Background-color:#auto;text-decoration:none;">1.49</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">USPTO</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means the United States Patent and Trademark Office, or any successor agency thereto.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923777"></a><a name="OLE_LINK9"></a><a name="OLE_LINK10"></a><a name="_Ref463904034"></a><font style="Background-color:#auto;text-decoration:none;">1.50</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">&#8220;</font><font style="font-weight:bold;color:#000000;">Valid Claim</font><font style="color:#000000;">&#8221;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> means a claim of (a) an issued, unexpired, and in-force Patent, which claim has not been held invalid or unenforceable by a court or other government agency of competent jurisdiction from which holding no appeal can be taken, or for which the applicable time for appeal has expired, and has not been held or admitted to be invalid or unenforceable through re-examination, inter partes review, post grant review or disclaimer, opposition procedure, nullity suit, or otherwise, or (b) a pending Patent application that has not been finally abandoned, finally rejected, or expired; but, if a claim of a pending patent application has not issued within [***] after the earliest date from which such claim takes priority, then such claim will cease to constitute a Valid Claim for the purposes of this Agreement unless and until such claim issues.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923778"></a><font style="Background-color:#auto;text-decoration:none;">1.51</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Additional Definitions</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;Each of the following definitions has the meanings defined in the corresponding Section of this Agreement indicated below:</p>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;border-bottom:Solid 1pt;padding-bottom:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Section</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.5</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11.4</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.2(c) </p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.1(a)</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Commercialization Milestone Payment&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Commercialization Plan&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.1(c)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Confidential Information&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.1</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;CROs&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.1(d)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Data Exchange Agreement&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.4</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Defending Party&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.4</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Dispute&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11.1</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;DURECT Indemnities&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.5(b)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Enforcement Action&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.5(c)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Enforcing Party&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.5(d)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Excipient Supply Agreement&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.2</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Excluded Claim&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11.2</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Indemnify&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.5(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Infringing Product&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.5(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Initial Product Supply Agreement&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.1(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;INNOCOLL Indemnities&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.5(a)</p></td>
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<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-12-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;border-bottom:Solid 1pt;padding-bottom:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Section</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8221;</font></p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(b)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(b)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Insolvent&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.2(e)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Insolvent Party&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12.3</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(c)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(c)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Losses&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.5(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Milestone Event&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Orange Book&#8221;</p></td>
<td valign="top" >
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.2(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Orange Book Enforcement Action&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.5(b)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Patent Milestone Event&#8221;</p></td>
<td valign="top" >
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Patent Milestone Payment&#8221;</p></td>
<td valign="top" >
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Platform Enforcement Action&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.5(c)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Prior CDA&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.3</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;PV Agreement&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.5</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Quality Agreement&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.2</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Regulatory Milestone Event&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Regulatory Milestone Payment&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.1(b)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Royalty Term&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ex. 1.16</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;[***]&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.3</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;[***]&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1(d)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Term&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.1</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Third-Party Claim&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top"  style=" border-right:solid 0.75pt #000000;">
<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.5(a)</p></td>
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<p style="text-align:left;margin-bottom:1pt;margin-top:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Upfront Fee&#8221;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:1pt;margin-top:1pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.2</p></td>
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</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="Bookmark"></a><a name="_Toc90923779"></a><a name="_Ref463904035"></a><font style="Background-color:#auto;text-decoration:none;">1.52</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Interpretation</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;The captions and headings to this Agreement are for convenience only, and are to be of no force or effect in construing or interpreting any of the provisions of this Agreement.&nbsp;&nbsp;Unless specified to the contrary, references to Articles, Sections&#160;or Exhibits mean the particular Articles, Sections&#160;or Exhibits to this Agreement and references to this Agreement include all Exhibits hereto.&nbsp;&nbsp;Unless context otherwise clearly requires, whenever used in this Agreement:&nbsp;&nbsp;(a)&#160;the words &#8220;include&#8221; or &#8220;including&#8221; shall be construed as incorporating, also, &#8220;but not limited to&#8221; or &#8220;without limitation&#8221;; (b)&#160;the word &#8220;will&#8221; shall be construed in the imperative having the same meaning as the word &#8220;shall&#8221;; (c)&#160;the word &#8220;day&#8221; or &#8220;year&#8221; means a calendar day or year; (d)&#160;the word &#8220;notice&#8221; requires notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and other written communications contemplated under this Agreement; (e)&#160;the words &#8220;hereof,&#8221; &#8220;herein,&#8221; &#8220;hereby&#8221; and derivative or similar words refer to this Agreement (including any Exhibits); (f)&#160;the word &#8220;or&#8221; shall be construed as the inclusive meaning identified with the phrase &#8220;and/or&#8221;; (g)&#160;provisions that require that a Party or the Parties &#8220;agree,&#8221; &#8220;consent&#8221; or &#8220;approve&#8221; or the like shall require that </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-13</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">such agreement, consent or approval be specific and in writing, whether by written agreement, letter, approved minutes or otherwise; (h)&#160;words of any gender include the other gender; (i)&#160;words using the singular or plural number also include the plural or singular number, respectively; (j)&#160;references to any specific law, rule or regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement law, rule or regulation thereof; and (k)&#160;neither Party nor its Affiliates shall be deemed to be acting &#8220;on behalf of&#8221; or &#8220;under authority of&#8221; the other Party hereunder.</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904062"></a><a name="_Toc85207204"></a><a name="_Toc90923780"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;2</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904062"></a><a name="_Toc85207204"></a><a name="_Toc90923780"></a>LICENSES / ALLIANCE MANAGEMENT</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475026731"></a><a name="_Ref476819441"></a><a name="_Toc85207205"></a><a name="_Toc90923781"></a><a name="_Ref463904063"></a><font style="Background-color:#auto;text-decoration:none;">2.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">License Grant</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref463904064"></a><a name="_Ref463904064"></a>.&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, DURECT hereby grants to INNOCOLL: </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref90920670"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">an exclusive license (even as to DURECT and its Affiliates), sublicensable through multiple tiers (subject to Section&#160;2.1(b)), under the Licensed Technology to: </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:25.93%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(i)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Develop Licensed Products in accordance with this Agreement for Commercialization in the Field in the Licensed Territory, </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:25.93%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(ii)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Manufacture Licensed Products in the Licensed Territory, Germany or another mutually agreed upon jurisdiction in accordance with this Agreement for Development and for Commercialization in the Field in the Licensed Territory, and</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:25.93%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(iii)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Commercialize and otherwise Exploit Licensed Products in the Field in the Licensed Territory.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref87531666"></a><a name="_Ref88486271"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">INNOCOLL shall have the right to sublicense through multiple tiers under the rights granted to it in Section&#160;2.1(a) to any of its Affiliates and Third Parties, provided that INNOCOLL shall ensure that each of its sublicensees is bound by a written agreement that is consistent with, and subject to the applicable terms and conditions of, this Agreement, and provide DURECT with a copy of such sublicense agreement within [***] after the execution of such sublicense agreement.&nbsp;&nbsp;[***] </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904069"></a><a name="_Toc85207206"></a><a name="_Toc90923782"></a><font style="Background-color:#auto;text-decoration:none;">2.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">No Other Rights</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Each Party acknowledges that the rights and licenses granted under this Article&#160;2 and elsewhere in this Agreement, including with respect to Licensed Know-How and Licensed Patents, are limited to the scope expressly granted.&nbsp;&nbsp;Accordingly, except for the rights expressly granted under this Agreement, no right, title, or interest of any nature whatsoever is granted, whether by implication, estoppel, reliance, or otherwise, by either Party to the other Party.&nbsp;&nbsp;All rights that are not specifically granted herein are reserved to the owner thereof.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207207"></a><a name="_Ref90553213"></a><a name="_Toc90923783"></a><a name="_Ref469659575"></a><font style="Background-color:#auto;text-decoration:none;">2.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Negative Covenants</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">INNOCOLL hereby covenants not to practice, and not to permit or cause or assist any Affiliate, or permit or cause or assist any Third Party to practice, any Licensed Technology </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-14</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="color:#000000;">for any purpose other than as expressly authorized in this Agreement.&nbsp;&nbsp;Without limiting the generality of the foregoing, INNOCOLL hereby covenants, on behalf of itself and its Affiliates (and shall require any sublicensee under </font><font style="color:#000000;">2.1(b)</font><font style="color:#000000;">), not to Exploit, Develop or seek Regulatory Approval for (i) Licensed Product outside the Licensed Territory or (ii) any product comprising </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> with an active pharmaceutical ingredient other than the Active Ingredient.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref90553215"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">DURECT hereby covenants on behalf of itself and its Affiliates and its Third Party Licensees not to, or permit or cause or assist any Third Party to Develop for Commercialization in the Licensed Territory, or Commercialize or seek Regulatory Approval in the Licensed Territory for (i) any Licensed Product or (ii) any product comprising [***] that is intended for administration by intra- or peri-incisional delivery to treat or ameliorate post-surgical pain.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207208"></a><a name="_Toc90923784"></a><font style="Background-color:#auto;text-decoration:none;">2.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Excluded Activities</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">During the Term, INNOCOLL agrees that neither it, nor any of its Affiliates or sublicensees, [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">During the Term, DURECT agrees that neither it, nor any of its Affiliates or Third Party Licensees, [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207209"></a><a name="_Toc90923785"></a><font style="Background-color:#auto;text-decoration:none;">2.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Alliance Managers</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Promptly after the Effective Date, each Party shall appoint an individual to act as alliance manager for that Party (each, an &#8220;<font style="font-weight:bold;">Alliance Manager</font>&#8221;).&#160; The Alliance Managers shall be the primary point of contact for the Parties with respect to the activities to be conducted under this Agreement.&#160; The name and contact information for the Alliance Managers, as well as any replacement(s) chosen by either Party in their sole discretion from time to time, shall be promptly provided to the other Party in writing.&#160; </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904076"></a><a name="_Toc85207210"></a><a name="_Toc90923786"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;3</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904076"></a><a name="_Toc85207210"></a><a name="_Toc90923786"></a>DEVELOPMENT; REGULATORY MATTERS</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207211"></a><a name="_Ref89350198"></a><a name="_Ref90294278"></a><a name="_Toc90923787"></a><a name="_Ref468098747"></a><a name="_Ref463904077"></a><font style="Background-color:#auto;text-decoration:none;">3.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Development</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref88595640"></a><a name="_Ref90294271"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">General</font><font style="color:#000000;">.&nbsp;&nbsp;As between the Parties, from and after the Effective Date, INNOCOLL shall be solely responsible, [***], for and use [***] to take steps necessary or customary to maintain the NDA Approval for the Initial Product, including conducting applicable Post-Approval Activities.&nbsp;&nbsp;As between the Parties, and except as expressly provided elsewhere in this Agreement, INNOCOLL shall have sole responsibility for liaising with and managing all interactions with the FDA with respect to the Licensed Product in the Field in the Licensed Territory, as well as maintaining the IND and NDA Approval for the Initial Product and conducting applicable Post-Approval Activities.&nbsp;&nbsp;For clarity, INNOCOLL shall have no regulatory rights or responsibilities in the Retained Territory.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Reformulations</font><font style="color:#000000;">.&nbsp;&nbsp;The Parties understand and agree that INNOCOLL may, but shall not be required to, Develop, Manufacture and Commercialize Reformulation(s).&nbsp;&nbsp;If INNOCOLL </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-15</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="color:#000000;">elects to so Develop, Manufacture and Commercialize any Reformulation, the Development, Manufacture and Commercialization thereof shall be at INNOCOLL&#8217;s sole cost.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Label Expansion</font><font style="color:#000000;">.&nbsp;&nbsp;[***]. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref23345189"></a><a name="_Ref23345271"></a><a name="_Toc85207212"></a><a name="_Toc90923788"></a><font style="Background-color:#auto;text-decoration:none;">3.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Assignment of Regulatory Filings</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref89949365"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Simultaneous with the execution of this Agreement, DURECT shall transfer and assign to INNOCOLL IND No. 66,086, NDA No. 204803, any supplements thereof and all correspondence to or from and all submissions to the FDA with respect to the IND and/or NDA.&nbsp;&nbsp;To the extent there are other Regulatory Materials Controlled by DURECT and obtained or maintained by DURECT that are necessary or reasonably useful for the Exploitation of Licensed Product in the Field in the Licensed Territory, the Parties will take reasonable steps to ensure that INNOCOLL has access to such Regulatory Materials.&nbsp;&nbsp;Accordingly, from and after such transfer and assignment, INNOCOLL shall use [***], at its sole cost, to maintain the NDA Approval.&nbsp;&nbsp;For clarity, DURECT shall have no obligation to transfer or assign the [***] DMF.&nbsp;&nbsp;Following the assignment of the above Regulatory Materials, [***] shall have the right to list or delist applicable Patents, including Licensed Patents, in the FDA Approved Drug Product List with Therapeutic Equivalence Evaluations (the &#8220;</font><font style="font-weight:bold;color:#000000;">Orange Book</font><font style="color:#000000;">&#8221;) for the Licensed Product(s). </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Without limiting Section&#160;2.1 and notwithstanding the transfer and assignment of any Regulatory Materials to INNOCOLL pursuant to Section&#160;3.2(a), DURECT shall have the right to use and/or reference all information, including Data, contained in such Regulatory Materials, subject to Section&#160;2.3(b).</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904087"></a><a name="_Toc85207214"></a><a name="_Toc90923789"></a><font style="Background-color:#auto;text-decoration:none;">3.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Technology Transfer</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Promptly following the Effective Date, DURECT shall provide electronic copies to INNOCOLL, for no additional consideration or cost reimbursement for the non-physical transfer, of all: </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_cp_text_1_18"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;"><a name="_cp_text_1_18"></a>Data Controlled by DURECT and its Affiliates that are necessary or reasonably useful for the Development, Manufacture, and Commercialization of Licensed Product in the Field in the Licensed Territory; and&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Licensed Know-How in reasonably sufficient detail in order for a reasonably skilled Person to practice such Know-How within the scope of the license granted to INNOCOLL in Section&#160;2.1, and in a format and method agreed to by the Parties&#8217; IT departments (e.g., FTP, physical hard disk). </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">DURECT shall provide such Data and Licensed Know-How in electronic form to the extent the same exists in electronic form, and shall provide originals or copies as reasonably requested.&nbsp;&nbsp;The Parties will cooperate and reasonably agree upon formats and procedures to facilitate the orderly and efficient exchange of Data and Licensed Know-How.&nbsp;&nbsp;All Data provided by DURECT pursuant to this Section&#160;3.3 shall be deemed Licensed Know-How, subject to the license granted to INNOCOLL in Section&#160;2.1.&nbsp;&nbsp;For clarity, INNOCOLL shall have the right to use the Data, including the Data in the IND and NDA, for any purpose in the Licensed Territory.&nbsp;&nbsp;</font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-16</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923790"></a><font style="Background-color:#auto;text-decoration:none;">3.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Data Exchange Agreement</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;Upon request from either Party and in connection with the potential Exploitation of Licensed Product in the Retained Territory, the Parties shall negotiate in good faith, or DURECT shall use [***] to facilitate a negotiation between INNOCOLL and a Third Party Licensee to enter into, a data exchange agreement on reasonable and customary terms for the Parties (or INNOCOLL and such Third Party Licensee) to exchange their respective Data concerning Licensed Products obtained in their respective Territories (&#8220;<font style="font-weight:bold;">Data Exchange Agreement</font>&#8221;). </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904092"></a><a name="_Toc85207215"></a><a name="_Toc90923791"></a><font style="Background-color:#auto;text-decoration:none;">3.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Pharmacovigilance Agreement</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK14"></a><a name="OLE_LINK15"></a><a name="OLE_LINK16"></a><a name="PVAgreement"></a>.&#160; Upon request from either Party and in connection with the potential Commercialization of Licensed Product in the Retained Territory, the Parties shall negotiate in good faith, or DURECT shall use [***]<a name="OLE_LINK14"></a><a name="OLE_LINK15"></a><a name="OLE_LINK16"></a> to facilitate a negotiation between INNOCOLL and a Third Party Licensee to enter into, one or more safety exchange or pharmacovigilance<a name="PVAgreement"></a>, safety data access agreements (each, a &#8220;<font style="font-weight:bold;">PV Agreement</font>&#8221;) on reasonable and customary terms to ensure compliance with safety reporting requirements of the FDA and regulatory authorities in the Retained Territory by providing detailed procedures regarding the collection, exchange and management of safety data relating to Licensed Product, including but not limited to the establishment and maintenance of a safety database, collection and reporting, and maintenance of core safety information, and each Party (or INNOCOLL and such Third Party Licensee) will have access to such database, the right to query and otherwise use the data (including primary data) included therein.&nbsp;&nbsp;The Parties acknowledge that responsibility for pharmacovigilance (including safety data reporting and management) with respect to Licensed Product in the Licensed Territory will transfer from DURECT to INNOCOLL upon transfer of the IND and NDA to INNOCOLL, however, it is understood and agreed that if DURECT Commercializes Licensed Product, whether itself or through a Third Party Licensee, in the Retained Territory, INNOCOLL by virtue of this Agreement, has no obligation to be the global safety database holder for the Licensed Product. </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_MailEndCompose"></a><a name="_Ref463904093"></a><a name="_Toc85207216"></a><a name="_Toc90923792"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;4</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904093"></a><a name="_Toc85207216"></a><a name="_Toc90923792"></a>COMMERCIALIZATION</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207217"></a><a name="_Ref89253247"></a><a name="_Ref89253274"></a><a name="_Toc90923793"></a><a name="_Ref463904094"></a><font style="Background-color:#auto;text-decoration:none;">4.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Commercialization</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904095"></a><a name="_Ref89253239"></a><a name="_Ref463904097"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Within the Licensed Territory</font><font style="color:#000000;"><a name="_Ref463904097"></a>.&nbsp;&nbsp;INNOCOLL shall have the exclusive right to Commercialize Licensed Product in the Field in the Licensed Territory, and shall Commercialize Licensed Product in the Field in the Licensed Territory in accordance with Applicable Law.&nbsp;&nbsp;In connection with the foregoing, INNOCOLL shall use [***] to Commercialize Licensed Product in the Field in the Licensed Territory.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904098"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Within the Retained Territory</font><font style="color:#000000;">.&nbsp;&nbsp;As between the Parties, DURECT shall have the exclusive right, but not the obligation, to Commercialize Licensed Product in the Retained Territory, itself or through one or more Third Party Licensees.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref469675826"></a><a name="_cp_text_1_20"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Reporting</font><font style="color:#000000;">.&#160; Within [***] following the Effective Date, INNOCOLL shall provide DURECT a written plan for the Commercialization of the Licensed Product for the following [***] period, (which plan shall be in the level of detail used internally by INNOCOLL for its own operational planning purposes, the &#8220;</font><font style="font-weight:bold;color:#000000;">Commercialization Plan</font><font style="color:#000000;">&#8221;).&nbsp;&nbsp;Within [***]<a name="_cp_text_1_20"></a> following the end of each calendar year during the Term, INNOCOLL shall provide DURECT with an updated </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-17-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="color:#000000;">Commercialization Plan for the following </font><font style="color:#000000;">[</font><font style="color:#000000;">***</font><font style="color:#000000;">]</font><font style="color:#000000;"> period.&nbsp;&nbsp;Each </font><font style="color:#000000;">Commercialization Plan shall set forth in a reasonable level of detail the Commercialization activities and timelines for those activities to be performed with respect thereto, including information and level of detail that INNOCOLL uses for its own internal planning purposes.&nbsp;&nbsp;Each Commercialization Plan shall further include an annual, non-binding forecast, for DURECT internal purposes only.&nbsp;&nbsp;All Commercialization Plans shall be the Confidential Information of INNOCOLL.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref83851119"></a><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Resources</font><font style="color:#000000;">.&nbsp;&nbsp;Throughout the Term of this Agreement, INNOCOLL will have and maintain commercially reasonable Commercialization capabilities, including with respect to, but not limited to, personnel (including sales representatives and medical science liaisons) and operating capital, for the Commercialization of Licensed Product, in accordance with the Commercialization Plan.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Compliance</font><font style="color:#000000;">.&nbsp;&nbsp;INNOCOLL shall be solely responsible, in its sole discretion, for all federal, state and local government purchasing, pricing or reimbursement programs and private purchasing, pricing or reimbursement programs with respect to Licensed Product sold by INNOCOLL in the Field in the Licensed Territory, including using [***] to execute agreements and file other appropriate reports and other documents with regulatory agencies and private entities for coverage of Licensed Product under state, federal or other health care programs and to list Licensed Product under such agreements.&#160; INNOCOLL shall be responsible for seeking and using [***] to obtain and maintain such federal, state and local government reimbursements for Licensed Product in the Field in the Licensed Territory.&nbsp;&nbsp;INNOCOLL shall be solely responsible for responding to all state and federal regulations on pricing transparency.&nbsp;&nbsp;DURECT will use [***] to cooperate with INNOCOLL by providing any reasonably requested existing information and supporting documentation in DURECT&#8217;s Control required to support all government and payor pricing calculations including product classifications or state regulations/legislation related to government pricing, Medicaid liabilities or pricing transparency regulations (current and future).</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref468098892"></a><a name="_Toc85207218"></a><a name="_Toc90923794"></a><a name="_Ref463904100"></a><font style="Background-color:#auto;text-decoration:none;">4.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Trademarks</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904101"></a><a name="_Ref470168490"></a><a name="_Ref89254778"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Assigned Trademark</font><font style="color:#000000;">.&nbsp;&nbsp;DURECT hereby assigns the Assigned Trademark and any and all associated goodwill to INNOCOLL.&nbsp;&nbsp;INNOCOLL agrees to use the Assigned Trademark solely in connection with its Commercialization of the Licensed Product in the Licensed Territory and it will not use the Assigned Trademark outside of the Licensed Territory, except any incidental use arising from on-line Commercialization or for Manufacturing activities for the Licensed Territory. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">DURECT Trademark Matters</font><font style="color:#000000;">.&nbsp;&nbsp;For clarity, (i) no right to any trademarks or domain names other than the Assigned Trademark and the domain name &#8220;www.POSIMIR.com&#8221; is transferred to INNOCOLL, (ii) the Parties (or their designees) shall coordinate the use of related trademarks and domain names inside and outside of the Licensed Territory consistent with industry practices and (iii) nothing herein is intended to prevent DURECT or its Affiliates (or any Person authorized, directly or indirectly, by DURECT or its Affiliates) from utilizing any related trademark (e.g., the Posimir mark) or domain name in the Retained Territory (e.g., www.posimir.au or www.posimir.fr) including incidental use arising from on-line Commercialization activities.</font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-18</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="text-decoration:none;Background-color:#auto;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Trademark Prosecution/Enforcement</font><font style="color:#000000;">.&nbsp;&nbsp;As between the Parties, INNOCOLL shall control the prosecution and enforcement of and use </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> to maintain the Assigned Trademark in the Licensed Territory </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, and DURECT shall retain ownership and control the prosecution, maintenance and enforcement of the foreign trademarks corresponding to the Assigned Trademark in the Retained Territory.&nbsp;&nbsp;The Parties shall cooperate fully and coordinate with each other with respect to the prosecution, maintenance and enforcement of the Assigned Trademark in the Licensed Territory and such trademark in the Retained Territory, respectively.&nbsp;&nbsp;</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904109"></a><a name="_Toc85207219"></a><a name="_Toc90923795"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;5</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904109"></a><a name="_Toc85207219"></a><a name="_Toc90923795"></a>SUPPLY</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc83891600"></a><a name="_Ref84276625"></a><a name="_Ref84276724"></a><a name="_Ref84276808"></a><a name="_Ref85009532"></a><a name="_Toc85207220"></a><a name="_Ref89351053"></a><a name="_Toc90923796"></a><a name="_Ref463904115"></a><font style="Background-color:#auto;text-decoration:none;">5.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Product Supply Agreements</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Initial Product Supply Agreement</font><font style="color:#000000;">.&nbsp;&nbsp;As of the Effective Date, DURECT shall assign to INNOCOLL and INNOCOLL shall accept assignment from DURECT that certain Agreement for Commercial Manufacturing and Packaging of Initial Product dated [***] (as amended, the &#8220;</font><font style="font-weight:bold;color:#000000;">Initial</font><font style="color:#000000;"> </font><font style="font-weight:bold;color:#000000;">Product Supply Agreement</font><font style="color:#000000;">&#8221;) between DURECT and [***] (the &#8220;</font><font style="font-weight:bold;color:#000000;">CMO</font><font style="color:#000000;">&#8221;); provided that DURECT shall (i) retain all obligations and liabilities, other than those listed on </font><font style="text-decoration:underline;color:#000000;">Exhibit&#160;5.1</font><font style="color:#000000;"> (including the validation activities reimbursement), arising under the Initial Product Supply Agreement prior to the Effective Date and (ii) sell and/or transfer to INNOCOLL and INNOCOLL shall purchase and/or obtain from DURECT the protocols, processes, equipment and materials used in the Development and Manufacture of the Initial Product, including saleable inventories of Initial Product, work in progress, components and raw materials, in each case, as described on </font><font style="text-decoration:underline;color:#000000;">Exhibit&#160;5.1</font><font style="color:#000000;">, at the price described therein (which, for clarity, is DURECT&#8217;s fully-allocated cost of acquisition thereof). &#160;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Retained Territory Supply Agreement</font><font style="color:#000000;">.&nbsp;&nbsp;Upon DURECT&#8217;s reasonable request, INNOCOLL agrees, in its sole discretion, to [***].&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref23776629"></a><a name="_Toc85207221"></a><a name="_Ref89859784"></a><a name="_Toc90923797"></a><a name="_Ref463904116"></a><a name="_Ref473809084"></a><font style="Background-color:#auto;text-decoration:none;">5.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Excipient Supply Agreement</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref89859786"></a><a name="_Ref89859786"></a>.&#160; Promptly following the Effective Date, the Parties shall negotiate in good faith a separate agreement (the &#8220;<font style="font-weight:bold;">Excipient Supply Agreement</font>&#8221;), together with a quality assurance agreement (the &#8220;<font style="font-weight:bold;">Quality Agreement</font>&#8221;), pursuant to which DURECT will supply [***] to the CMO and/or INNOCOLL for incorporation in Licensed Product in the Field in the Licensed Territory. The Excipient Supply Agreement will contain the key terms set forth in <font style="text-decoration:underline;">Exhibit&#160;5.2</font>0. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref469646097"></a><a name="_Ref473635965"></a><a name="_Ref473636892"></a><a name="_Ref473636897"></a><a name="_Ref473641668"></a><a name="_Toc85207222"></a><a name="_Toc90923798"></a><font style="Background-color:#auto;text-decoration:none;">5.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Drug Master File</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; DURECT has [***].</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.4<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Supply</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;Except as otherwise expressly provided herein, as between the Parties, INNOCOLL shall be responsible for the Manufacture and supply of the Licensed Product to support its and its Affiliates&#8217; and sublicensees&#8217; activities hereunder, including all related regulatory matters associated therewith.</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-19</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904117"></a><a name="_Toc85207223"></a><a name="_Toc90923799"></a><font style="text-decoration:none;Background-color:#auto;">Article&#160;6</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904117"></a><a name="_Toc85207223"></a><a name="_Toc90923799"></a></font><font style="text-transform:none;color:#000000;">ECONOMIC TERMS</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207224"></a><a name="_Toc90923800"></a><font style="Background-color:#auto;text-decoration:none;">6.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Expenses</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Except as otherwise expressly provided herein, each Party shall be responsible for and, as between the Parties, bear all costs and expenses incurred in conducting the activities for which it is responsible.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904118"></a><a name="_Toc85207225"></a><a name="_Toc90923801"></a><font style="Background-color:#auto;text-decoration:none;">6.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Upfront Fee</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="UpfrontFee"></a><a name="UpfrontFee"></a>.&#160; In partial consideration of the rights granted to INNOCOLL hereunder, INNOCOLL shall pay to DURECT an initial fee in the amount of Four Million Dollars ($4,000,000) (&#8220;<font style="font-weight:bold;">Upfront Fee</font>&#8221;) payable within [***] after the Effective Date.&nbsp;&nbsp;Such Upfront Fee shall be non-refundable, and shall not be creditable against any other amount due hereunder.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904119"></a><a name="_Toc85207226"></a><a name="_Toc90923802"></a><font style="Background-color:#auto;text-decoration:none;">6.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Other Payments</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; INNOCOLL shall make the other payments to DURECT as set forth in the <font style="text-decoration:underline;">Financial Exhibit</font> (<font style="text-decoration:underline;">Exhibit&#160;1.16</font>).</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904120"></a><a name="_Toc85207227"></a><a name="_Toc90923803"></a><font style="Background-color:#auto;text-decoration:none;">6.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Payment Method</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; All payments due under this Agreement shall be made by bank wire transfer in immediately available funds to an account designated by the payee Party.&nbsp;&nbsp;All payments hereunder shall be made in the legal currency of the United States of America, and all references to &#8220;$&#8221; or &#8220;Dollars&#8221; shall refer to United States dollars.&nbsp;&nbsp;Except as otherwise provided herein, all payments due to either Party under this Agreement shall be due and payable within [***] of the receipt of invoice from the other Party.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207229"></a><a name="_Ref90303530"></a><a name="_Toc90923804"></a><font style="Background-color:#auto;text-decoration:none;">6.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Taxes</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;DURECT will pay any and all taxes levied on account of any payments made to it under this Agreement.&#160; If any payment under this Agreement is subject to withholding tax under Applicable Law, INNOCOLL shall have the right to withhold any and all such taxes, which taxes shall be paid to the appropriate taxing authority for the account of DURECT.&#160; INNOCOLL shall remit to DURECT an amount net of such withholding taxes.&#160; The Parties agree to cooperate to minimize any&#160;withholding taxes (including providing each other with any exemption certificates or other documentation establishing that no taxes are due, or such taxes are due at a reduced rate).&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923805"></a><a name="_Ref90303532"></a><font style="Background-color:#auto;text-decoration:none;">6.6</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Acknowledgement</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref463904124"></a><a name="_Toc85207230"></a>.&nbsp;&nbsp;The Parties acknowledge that the economic terms and conditions set forth herein were negotiated and agreed to and represent a fair and equitable allocation of the value from Licensed Product in the Field in the Licensed Territory.&nbsp;&nbsp;The Parties further acknowledge that there is considerable value in the Licensed Technology that is consistent with the economic terms and conditions herein.<a name="_Ref463904124"></a><a name="_Toc85207230"></a> </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref90921825"></a><a name="_Toc90923806"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;7</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><br /><a name="_Ref90921825"></a><a name="_Toc90923806"></a>INTELLECTUAL PROPERTY</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc479183062"></a><a name="_Toc475281227"></a><a name="_Toc473819472"></a><a name="_Toc475097196"></a><a name="_Toc470814111"></a><a name="_Toc473531667"></a><a name="_Ref469993021"></a><a name="_Ref469993018"></a><a name="_Toc85207231"></a><a name="_Ref89255298"></a><a name="_Ref89848903"></a><a name="_Ref89848927"></a><a name="_Ref90303133"></a><a name="_Ref90303199"></a><a name="_Toc90923807"></a><a name="_Ref470786865"></a><a name="_Ref463904127"></a><font style="Background-color:#auto;text-decoration:none;">7.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Ownership of Inventions</font></p>
<p style="margin-bottom:12pt;text-align:justify;margin-top:12pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="DURECTInventions"></a><a name="DURECTPatents"></a><a name="DURECTInventions"></a><a name="DURECTPatents"></a>.&nbsp;&nbsp; Without limiting Section&#160;4.2(a), each Party shall retain ownership of its Intellectual Property rights existing as of the Effective Date, or developed or acquired by or on behalf of it independent of any activities under this Agreement, and nothing in this Agreement shall assign any ownership to the other Party with respect to such Intellectual Property rights.&nbsp;&nbsp;Notwithstanding the foregoing, subject to the licenses and other rights provided herein:</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-20</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref84367025"></a><a name="_Ref84370012"></a><font style="text-decoration:none;Background-color:#auto;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***]</font><font style="color:#000000;">;</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref84367026"></a><a name="_Ref84369705"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***]; </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref89255292"></a><a name="_Ref89848933"></a><a name="_Ref84367028"></a><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">notwithstanding anything to the contrary in clauses (a)-(c) of this Section&#160;7.1, DURECT shall exclusively own all Inventions, regardless of inventorship, comprising an improvement of or modification to [***]; </font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Each Party shall cause its employees, agents and contractors to be bound by a written agreement whereby such employees, agents and contractors assign, or are required to assign, all intellectual property rights developed by any such employees, agents and contractors in the course of their employment or engagement with the respective Party to such Party; </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(f)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Disclosure of Inventions</font><font style="color:#000000;">.&nbsp;&nbsp;Each Party shall promptly disclose to the other any Inventions made in the course of activities conducted pursuant to this Agreement; and </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(g)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">Inventorship of Inventions and other Intellectual Property made pursuant to this Agreement shall be determined in accordance with the patent laws of the United States.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207232"></a><a name="_Ref90303136"></a><a name="_Ref90303202"></a><a name="_Toc90923808"></a><a name="_Toc469667402"></a><a name="_Ref469659649"></a><a name="_Ref469659644"></a><a name="_Toc479183063"></a><a name="_Toc475281228"></a><a name="_Toc473819473"></a><a name="_Toc475097197"></a><a name="_Toc470814112"></a><a name="_Toc473531668"></a><a name="_Ref470602909"></a><a name="_Ref470602727"></a><a name="_Ref470602470"></a><a name="_Ref25324732"></a><a name="_Ref468099102"></a><font style="Background-color:#auto;text-decoration:none;">7.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Ownership of Data</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;As between the Parties, subject to the licenses and other rights provided herein, all right, title and interest to Data developed or generated by [***].&nbsp;&nbsp;For clarity, as between the Parties, [***].&nbsp;&nbsp;For clarity, all such Data, to the extent [***].</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207233"></a><a name="_Toc90923809"></a><font style="Background-color:#auto;text-decoration:none;">7.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Prosecution of Licensed Patents</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref463904128"></a>.&nbsp;&nbsp;As between the Parties, [***] shall control the Prosecution of all Licensed Patents, including [***] Patents.&nbsp;&nbsp;[***] shall reasonably cooperate with [***] to permit and enable [***]to Prosecute the Licensed Patents[***].&nbsp;&nbsp;With respect to each Product-Specific Licensed Patent Claim, [***].&nbsp;&nbsp;If [***] intends to abandon or cease prosecution or maintenance of any Licensed Patent in the Licensed Territory, [***] shall provide prior notice to [***] of such intention, which notice must be given at least [***] in advance of the next deadline to take any action necessary to maintain existing rights in any such Licensed Patent.&nbsp;&nbsp;Upon [***]&#8217;s election, [***] shall permit [***] to assume prosecution and maintenance of such Licensed Patent using counsel of [***]&#8217;s choosing.&nbsp;&nbsp;[***].&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475196146"></a><a name="_Ref463904130"></a><a name="_Toc85207234"></a><a name="_Toc90923810"></a><font style="Background-color:#auto;text-decoration:none;">7.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Defense of Third Party Infringement Claims</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref473532339"></a><a name="_Ref473532358"></a><a name="_Ref473532380"></a><a name="_Ref473532397"></a><a name="_Ref475097505"></a>.&nbsp;&nbsp;If Licensed Product becomes the subject of a Third Party&#8217;s claim or assertion of infringement of a Patent relating to the Development, Manufacture, or Commercialization of Licensed Product in the Field in the Licensed Territory, the Party first having notice of the claim or assertion shall promptly notify the other Party, and the Parties shall promptly confer to consider the claim or assertion and the appropriate course of action.&nbsp;&nbsp;Unless the Parties otherwise agree in writing (such agreement not to be unreasonably withheld, conditioned or delayed by either Party), [***] (the &#8220;<font style="font-weight:bold;">Defending Party</font>&#8221;).&nbsp;&nbsp;Neither Party shall enter into any settlement of any claim described in this Section&#160;7.4 that adversely affects the other Party&#8217;s rights or interests hereunder without such other Party&#8217;s written consent, which consent shall not be </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-21-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">unreasonably withheld, conditioned or delayed.&nbsp;&nbsp;T</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">he other Party shall reasonably assist the Defending Party and cooperate in any such litigation at the Defending Party&#8217;s request and expense</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref473532339"></a><a name="_Ref473532358"></a><a name="_Ref473532380"></a><a name="_Ref473532397"></a><a name="_Ref475097505"></a>.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475200317"></a><a name="_Toc85207235"></a><a name="_Toc90923811"></a><font style="Background-color:#auto;text-decoration:none;">7.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Enforcement of Licensed Patents</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475201049"></a><a name="_Ref463904132"></a><a name="InfringingProduct"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Notice</font><font style="color:#000000;"><a name="InfringingProduct"></a>.&nbsp;&nbsp;In the event that (i) either Party receives a notice letter pursuant to 21 U.S.C. &#167;&#167;&#160;355(b)(3) or 355(j)(2)(B) of a paragraph IV certification to one or more patents listed in the Orange Book for Licensed Product, or (ii) reasonably believes that any Licensed Patent (A) is being infringed by a Third Party or (B) is or will become subject to a declaratory judgment action arising from such infringement, in each case ((i) or (ii)) in the Field in the Licensed Territory by a product containing the Active Ingredient (an &#8220;</font><font style="font-weight:bold;color:#000000;">Infringing Product</font><font style="color:#000000;">&#8221;), such Party shall promptly notify the other Party.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref89861589"></a><a name="_Ref475199760"></a><a name="_Ref463904133"></a><a name="_Ref463904134"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Patent Enforcement of Orange Book Listed Patents</font><font style="color:#000000;">.&nbsp;&nbsp;As between the Parties, [***] shall have the sole right (but not the obligation), at its expense, to control the enforcement (including settlement) of or to defend any declaratory judgment action arising from any Infringing Products infringing (i) the Licensed Patents listed in the Orange Book as of the Effective Date and (ii) any Product-Specific Licensed Patent Claims of any Licensed Patent listed in the Orange Book after the Effective Date with respect to Infringing Products (each, an &#8220;</font><font style="font-weight:bold;color:#000000;">Orange Book Enforcement Action</font><font style="color:#000000;">&#8221;) in the Field in the Licensed Territory.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475201148"></a><a name="_Ref463904135"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Patent Enforcement of Platform Patents</font><font style="color:#000000;">.&nbsp;&nbsp;With respect to an Infringing Product, if either (1) a claim of a Licensed Patent not listed in the Orange Book or (2) a claim of a Licensed Patent listed in the Orange Book after the Effective Date that is not a Product-Specific Licensed Patent Claim is infringed (as determined by either Party in good faith) by such Infringing Product or is subject to a declaratory judgment action arising from such Infringing Products (each, a &#8220;</font><font style="font-weight:bold;color:#000000;">Platform</font><font style="color:#000000;"> </font><font style="font-weight:bold;color:#000000;">Enforcement Action</font><font style="color:#000000;">&#8221; and together with an Orange Book Enforcement Action, an &#8220;</font><font style="font-weight:bold;color:#000000;">Enforcement Action</font><font style="color:#000000;">&#8221;) in the Field in the Licensed Territory, the Parties shall discuss and determine in good faith, if applicable, whether (in the case of an infringement action) to bring such Platform Enforcement Action and, if applicable, which Party or if both Parties will have the right to bring such Platform Enforcement Action with respect to such Infringing Products and which Party or Parties will bear the cost of such action.&nbsp;&nbsp;For clarity, in the event that the Parties are unable to agree on any Platform Enforcement Action, in the case of an infringement action, then neither Party shall bring such action, and, in the case of a declaratory judgment action, then [***] shall have the right to defend such action at its expense.&nbsp;&nbsp;The Enforcing Party or Parties agree not to settle any Platform Enforcement Action or make any admissions or assert any position in such Platform Enforcement Action, in a manner that would materially adversely affect the validity, enforceability or scope of any Licensed Patent, [***], without the prior written consent of the other Party, which shall not be unreasonably withheld, conditioned or delayed.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="EnforcingParty"></a><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Cooperation</font><font style="color:#000000;">.&nbsp;&nbsp;The Party commencing, controlling or defending any Enforcement Action under this Section&#160;7.5<a name="EnforcingParty"></a> (the &#8220;</font><font style="font-weight:bold;color:#000000;">Enforcing Party</font><font style="color:#000000;">&#8221;) shall keep the other Party reasonably informed of the progress of any such action, and such other Party shall have the right to participate with counsel of its own choice [***] to the extent permitted by law.&nbsp;&nbsp;In any event, the other Party shall reasonably cooperate with the Enforcing Party in any Enforcement Action[***].&nbsp;&nbsp;DURECT </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-22-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="color:#000000;">and INNOCOLL each acknowledges and understands that such cooperation may include the retention, collection and production of documents as reasonably requested by INNOCOLL (where INNOCOLL is the Enforcing Party) or DURECT (where DURECT is the Enforcing Party) </font><font style="color:#000000;">[***]</font><font style="color:#000000;">.&nbsp;&nbsp;The Enforcing Party shall have the right to join the other Party, and such other Party shall join and hereby agrees to be joined, as a party in any Enforcement Action if necessary to bring or maintain such action.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904136"></a><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Recoveries</font><font style="color:#000000;">.&nbsp;&nbsp;Any recovery, including, but not limited to damages or other monetary awards received as a result of any Enforcement Action pursuant to this Section&#160;7.5 shall be used first to reimburse each Party&#8217;s documented, out-of-pocket costs and expenses (including court, attorneys&#8217; and professional fees) incurred in connection with such Enforcement Action, and the remainder of the recovery shall be shared as follows: (i) to the extent such recovery represents lost sales, such recoveries shall be retained by INNOCOLL and treated as Net Sales hereunder and INNOCOLL shall pay the applicable percentage of such recoveries to DURECT, and (ii) for all other recoveries [***] of such recovery shall be paid to the Enforcing Party and [***] of such recovery shall be paid to the other Party.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904138"></a><a name="_Toc85207236"></a><a name="_Toc90923812"></a><font style="Background-color:#auto;text-decoration:none;">7.6</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Patent Marking</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; INNOCOLL shall use [***] to mark (or cause to be marked) Licensed Product marketed and sold hereunder with appropriate Licensed Patent numbers or indicia in accordance with Applicable Law.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904139"></a><a name="_Toc85207237"></a><a name="_Toc90923813"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;8</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904139"></a><a name="_Toc85207237"></a><a name="_Toc90923813"></a>CONFIDENTIALITY</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904140"></a><a name="_Toc85207238"></a><a name="_Toc90923814"></a><font style="Background-color:#auto;text-decoration:none;">8.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Confidentiality; Exceptions</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="ConfidentialInformation"></a><a name="ConfidentialInformation"></a>.&#160; Except to the extent expressly authorized by this Agreement or otherwise agreed by the Parties in writing, the Parties agree that the receiving Party shall keep confidential and shall not publish or otherwise disclose or use for any purpose other than as provided for in this Agreement any confidential or proprietary information or materials furnished to it by the other Party pursuant to this Agreement (collectively, &#8220;<font style="font-weight:bold;">Confidential Information</font>&#8221;).&nbsp;&nbsp;Notwithstanding the foregoing, Confidential Information shall not be deemed to include information or materials to the extent that it can be established by written documentation by the receiving Party that such information or material:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904141"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">was already known to or possessed by the receiving Party without any obligation of confidentiality, at the time of its disclosure to the receiving Party hereunder;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904142"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">was generally available to the public or otherwise part of the public domain at the time of its disclosure to the receiving Party hereunder;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904143"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">became generally available to the public or otherwise part of the public domain after its disclosure hereunder other than through any act or omission of the receiving Party in breach of this Agreement;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904144"></a><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">was independently developed by or for the receiving Party (including its contractors, suppliers or clinical research organizations (&#8220;</font><font style="font-weight:bold;color:#000000;">CROs</font><font style="color:#000000;">&#8221;)) without use of or reference to the </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-23-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="color:#000000;">other Party&#8217;s Confidential Information as demonstrated by documented evidence prepared by the receiving Party contemporaneously with such independent development; or</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904145"></a><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">was disclosed to the receiving Party, other than under an obligation of confidentiality, by a Third Party who had no obligation to the disclosing Party not to disclose such information to others.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904146"></a><a name="_Toc85207239"></a><a name="_Toc90923815"></a><font style="Background-color:#auto;text-decoration:none;">8.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Authorized Use and Disclosure</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Each Party may use and disclose Confidential Information of the other Party as follows: (a)&#160;under appropriate confidentiality provisions substantially equivalent to those in this Agreement in connection with the performance of its obligations or exercise of rights granted to such Party in this Agreement; (b)&#160;to the extent such disclosure is reasonably necessary for the Prosecution of Patents (including applications therefor) in accordance with this Agreement, complying with the terms of agreements with Third Parties subject to appropriate confidentiality provisions consistent with those in this Agreement, prosecuting or defending litigation, complying with applicable governmental regulations, filing for, conducting preclinical or clinical trials, obtaining and maintaining Regulatory Approvals (including the NDA Approval) for Licensed Product under this Agreement, or otherwise required by Applicable Law or any listing agreement with or rules of a national securities exchange, provided<font style="font-style:italic;">, </font>however, that if a Party is required by Applicable Law to make any such disclosure of the other Party&#8217;s Confidential Information it will, except where impracticable for necessary disclosures (for example, in the event of medical emergency), give reasonable advance notice to the other Party of such disclosure requirement and, except to the extent inappropriate in the case of patent applications, will use its [***] to secure confidential treatment of such Confidential Information required to be disclosed; (c)&#160;in communication with existing and potential contractors, suppliers, CROs, investors, acquirers, consultants, advisors (including financial advisors, lawyers and accountants) and others on a need to know basis, in each case, under appropriate confidentiality provisions and a written agreement substantially equivalent to those of this Agreement; or (d)&#160;to the extent mutually agreed to by the Parties in writing.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904147"></a><a name="_Toc85207240"></a><a name="_Toc90923816"></a><font style="Background-color:#auto;text-decoration:none;">8.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Prior Agreements</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="PriorCDA"></a>.&#160; This Agreement supersedes the Confidentiality Agreement between DURECT and INNOCOLL dated [***]<a name="PriorCDA"></a> (the &#8220;<font style="font-weight:bold;">Prior CDA</font>&#8221;) with respect to information disclosed thereunder.&nbsp;&nbsp;All information or materials disclosed or provided by DURECT to INNOCOLL under the Prior CDA shall be deemed Confidential Information of DURECT (subject to the exceptions set forth herein) and shall be subject to INNOCOLL&#8217;s confidentiality obligations under this Article&#160;8.&nbsp;&nbsp;All information disclosed by INNOCOLL under the Prior CDA shall be deemed Confidential Information of INNOCOLL (subject to the exceptions set forth herein) and shall be subject to DURECT&#8217;s confidentiality obligations under this Article&#160;8.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904148"></a><a name="_Toc85207241"></a><a name="_Toc90923817"></a><font style="Background-color:#auto;text-decoration:none;">8.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Technical Publications</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Each Party shall submit to the other Party any proposed publication or public disclosure containing clinical or scientific results relating to Licensed Product in the Field at least [***] in advance to allow that Party to review such proposed publication or disclosure.&nbsp;&nbsp;The reviewing Party shall notify the requesting Party in writing during such [***] reviewing period if the reviewing Party wishes to (a)&#160;remove its Confidential Information from such proposed publication or presentation, in which event the requesting Party shall remove such Confidential Information from its proposed publication or presentation; or (b)&#160;request a reasonable delay in publication or </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-24</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">presentation in order to protect patentable subject matter, in which event the requesting Party shall delay the publication or presentation for a period of no more than </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">***</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> to enable patent applications to be filed in accordance with </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Section&#160;</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7.1</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> protecting Inventions disclosed in such publication or presentation.&nbsp;&nbsp;For clarity, if the reviewing Party fails to notify the requesting Party during the </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">***</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> reviewing period as provided under this </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Section&#160;</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.4</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, the requesting Party shall be free to proceed with the proposed publication or presentation.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904149"></a><a name="_Toc85207242"></a><a name="_Toc90923818"></a><font style="Background-color:#auto;text-decoration:none;">8.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Publicity</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904150"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Confidential Terms</font><font style="color:#000000;">.&nbsp;&nbsp;Each Party agrees not to disclose to any Third Party the terms and conditions of this Agreement without the prior approval of the other Party, except to advisors (including consultants, financial advisors, attorneys and accountants), potential acquirers, and others, including potential and actual (sub)licensees under the Licensed Technology on a need to know basis (which means in the case of DURECT&#8217;s potential and actual licensees of the Licensed Technology with redaction of the financial obligations of INNOCOLL), in each case under circumstances that reasonably protect the confidentiality thereof, or to the extent necessary to comply with the terms of agreements with Third Parties, or to the extent required by Applicable Law, including securities laws and regulations.&nbsp;&nbsp;Notwithstanding the foregoing, each Party may issue a press release to announce the execution of this Agreement, provided that such press release is provided to the other Party [***] in advance of publication and the issuing party considers all reasonable comments from the non-issuing Party in good faith.&nbsp;&nbsp;Thereafter, DURECT and INNOCOLL may each disclose to Third Parties the information contained in such press releases or disclosed in SEC filings without the need for further approval by the other.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904151"></a><a name="_Ref468099124"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Publicity and Public Disclosure Review</font><font style="color:#000000;">.&nbsp;&nbsp;The Parties acknowledge the importance of supporting each other&#8217;s efforts to publicly disclose results and significant developments regarding Licensed Product in the Field and other activities in connection with this Agreement, and each Party may make such disclosures from time to time subject to review and approval of the other Party, which approval shall not be unreasonably withheld, conditioned or delayed.&nbsp;&nbsp;Such disclosures may include achievement of significant events in the Commercialization of Licensed Product.&nbsp;&nbsp;When a Party elects to make any such public disclosure under this Section&#160;8.5(b), it will give the other Party reasonable notice to review and comment on such statement, it being understood that if the reviewing Party does not notify the requesting Party in writing within a [***] period or such shorter period if required by Applicable Law of any reasonable objections, as contemplated in this Section&#160;8.5(b), such disclosure shall be deemed approved, and in any event the reviewing Party shall work diligently and reasonably to agree on the text of any proposed disclosure in an expeditious manner.&nbsp;&nbsp;Nothing in this Agreement shall limit a Party&#8217;s right to make disclosures as required by Applicable Law or any listing agreement with or rules or regulations of a national securities exchange.</font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-25</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904152"></a><a name="_Toc85207243"></a><a name="_Toc90923819"></a><font style="text-decoration:none;Background-color:#auto;">Article&#160;9</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904152"></a><a name="_Toc85207243"></a><a name="_Toc90923819"></a></font><font style="text-transform:none;color:#000000;">REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc85207244"></a><a name="_Ref88555492"></a><a name="_Ref90304351"></a><a name="_Toc90923820"></a><a name="_Ref468441287"></a><font style="Background-color:#auto;text-decoration:none;">9.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">General Representations and Warranties</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Each Party represents and warrants to the other Party that as of the Effective Date:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">it is duly organized and validly existing under Applicable Law of the jurisdiction of its incorporation, and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">it is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person executing this Agreement on its behalf has been duly authorized to do so by all requisite corporate action;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">this Agreement is legally binding upon it and enforceable in accordance with its terms.&nbsp;&nbsp;The execution, delivery and performance of this Agreement by it does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">it is not aware of any action, suit or inquiry or investigation instituted by any Person which questions or threatens the validity of this Agreement or the solvency of its business; and </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">it shall, at all times during the Term, comply with all Applicable Laws relating to its activities under this Agreement.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref88554808"></a>Each Party covenants to the other Party that it shall (i) not knowingly use in any capacity, in connection with the performance of its obligations under this Agreement or with respect to a Licensed Product or the Licensed Technology, any individual or entity who or that has been debarred or suspended under 21 U.S.C. &#167;335(a) or any foreign equivalent thereof, or who is the subject of a conviction described in such section or any foreign equivalent thereof, and (ii) inform the other Party in writing immediately upon becoming aware if it or any individual or entity who or that is performing activities hereunder on its behalf is debarred, suspended or is the subject of a conviction described in 21 U.S.C. &#167;335(a) or any foreign equivalent thereof, or if any action, suit, claim, investigation, or legal or administrative proceeding is pending or, to its knowledge, is threatened, relating to such debarment or conviction.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref468457537"></a><a name="_Toc85207245"></a><a name="_Ref88554869"></a><a name="_Toc90923821"></a><font style="Background-color:#auto;text-decoration:none;">9.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">DURECT Representation, Warranties and Covenants</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; DURECT further represents and warrants and covenants to INNOCOLL that, except as set forth on the schedule of exceptions in the <font style="text-decoration:underline;">Exhibit&#160;9.2</font>, as of the Effective Date:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-26</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***]; </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904168"></a><font style="Background-color:#auto;text-decoration:none;">(f)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(g)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(h)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***];</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(i)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***]; and</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(j)</font><font style="margin-left:36pt;color:#000000;"></font><font style="color:#000000;">[***].</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For purposes of this Section&#160;9.2, [***].</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref476839538"></a><a name="_Toc85207246"></a><a name="_Toc90923822"></a><font style="Background-color:#auto;text-decoration:none;">9.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Disclaimer of Warranties</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; EXCEPT AS SET FORTH IN THIS <font style="text-transform:uppercase;">AGREEMENT </font>AND THE EXPRESS WARRANTIES OF ANY OTHER TRANSACTION AGREEMENT (ONCE EXECUTED), DURECT AND INNOCOLL EXPRESSLY DISCLAIM ANY WARRANTIES OR CONDITIONS, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT (INCLUDING THE LICENSED PRODUCT AND LICENSED TECHNOLOGY), INCLUDING ANY WARRANTY OF MERCHANTABILITY, NONINFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904169"></a><a name="_Ref468099249"></a><a name="_Ref468099274"></a><a name="_Toc85207247"></a><a name="_Toc90923823"></a><font style="Background-color:#auto;text-decoration:none;">9.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Indemnification</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904170"></a><a name="Indemnify"></a><a name="PARTNERIndemnitees"></a><a name="Losses"></a><a name="ThirdPartyClaim"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Indemnification by DURECT</font><font style="color:#000000;"><a name="Indemnify"></a>.&nbsp;&nbsp;DURECT hereby agrees to defend, hold harmless and indemnify (collectively, &#8220;</font><font style="font-weight:bold;color:#000000;">Indemnify</font><font style="color:#000000;"><a name="PARTNERIndemnitees"></a>&#8221;) INNOCOLL and its Affiliates, and its and their agents, directors, officers and employees (the &#8220;</font><font style="font-weight:bold;color:#000000;">INNOCOLL Indemnitees</font><font style="color:#000000;"><a name="Losses"></a>&#8221;) from and against any liability or expense (including reasonable legal expenses and attorneys&#8217; fees) (collectively, &#8220;</font><font style="font-weight:bold;color:#000000;">Losses</font><font style="color:#000000;"><a name="ThirdPartyClaim"></a>&#8221;) resulting from suits, claims, actions and demands, in each case brought by a Third Party (each, a &#8220;</font><font style="font-weight:bold;color:#000000;">Third-Party Claim</font><font style="color:#000000;">&#8221;) against any INNOCOLL Indemnitee, arising out of (i)&#160;a breach of any of [***], (ii) the [***] by any [***], or (iii) [***] (1) prior to [***] and (2) after [***].&nbsp;&nbsp;DURECT&#8217;s obligation to Indemnify the INNOCOLL Indemnitees pursuant to this Section&#160;9.4(a) shall not apply to the extent [***]. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904171"></a><a name="DURECTIndemnitees"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Indemnification by INNOCOLL</font><font style="color:#000000;"><a name="DURECTIndemnitees"></a>.&nbsp;&nbsp;INNOCOLL hereby agrees to Indemnify DURECT and its Affiliates, and its and their agents, directors, officers and employees (the &#8220;</font><font style="font-weight:bold;color:#000000;">DURECT Indemnitees</font><font style="color:#000000;">&#8221;) from and against any and all Losses resulting from Third-Party Claims against any DURECT Indemnitees arising out of (i)&#160;a breach of any of [***], (ii)&#160; the [***], or (iii)&#160;the [***] of any [***].&nbsp;&nbsp;INNOCOLL&#8217;s obligation to Indemnify the DURECT Indemnitees pursuant to this Section&#160;9.4(b) shall not apply to the extent [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904172"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Procedure</font><font style="color:#000000;">.&nbsp;&nbsp;To be eligible to be Indemnified hereunder, the indemnified Party shall provide the indemnifying Party with prompt notice of the Third-Party Claim giving rise to the </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-27-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="color:#000000;">indemnification obligation pursuant to this </font><font style="color:#000000;">Section&#160;</font><font style="color:#000000;">9.4</font><font style="color:#000000;"> and the exclusive ability to defend (with the reasonable cooperation of the indemnified Party).&nbsp;&nbsp;The indemnifying Party shall have the right to settle or compromise any Third-Party Claim against the indemnified Party without the consent of the indemnified Party provided that the terms thereof: </font><font style="color:#000000;">[***]</font><font style="color:#000000;">.&nbsp;&nbsp;In all other cases, the indemnified Party and indemnifying Party must agree to enter into any proposed settlement.&nbsp;&nbsp;The indemnified Party shall have the right to participate, </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, in the defense of any claim or suit that has been assumed by the indemnifying Party, provided that the indemnifying Party shall have no obligations with respect to any Losses resulting from the indemnified Party&#8217;s admission, settlement or other communication without the prior written consent of the indemnifying Party</font><font style="color:#000000;">. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904173"></a><a name="_Toc85207248"></a><a name="_Toc90923824"></a><font style="Background-color:#auto;text-decoration:none;">9.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Insurance</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Each Party shall obtain and maintain, during the Term and for [***] thereafter, reasonable insurance, as outlined on <font style="text-decoration:underline;">Exhibit&#160;9.5</font>, with financially stable and reputable insurers.&nbsp;&nbsp;Each Party shall furnish to the other Party on request evidence of its liability insurance setting forth the limits of the liability insurance maintained.&nbsp;&nbsp;The limits of insurance coverage will not affect or limit the liability or indemnity obligations of either Party stated elsewhere in this Agreement or as required by law. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904174"></a><a name="_Toc85207249"></a><a name="_Toc90923825"></a><font style="Background-color:#auto;text-decoration:none;">9.6</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Limitation of Liability</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, OTHER THAN BY REASON OF A BREACH OF ARTICLE&#160;7 (INTELLECTUAL PROPERTY) OR <font style="text-transform:uppercase;">Article&#160;8</font> (CONFIDENTIALITY) ABOVE, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER PARTY SHALL BE LIABLE TO THE OTHER WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT (WHETHER UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY) FOR ANY SPECIAL, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL OR PUNITIVE DAMAGES, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES.&nbsp;&nbsp;NOTWITHSTANDING THE FOREGOING, NOTHING IN THIS SECTION 9.7 IS INTENDED TO OR SHALL LIMIT OR RESTRICT THE INDEMNIFICATION OBLIGATIONS OF EITHER PARTY UNDER SECTION 9.4 ABOVE TO THE EXTENT A THIRD PARTY RECOVERS ANY SPECIAL, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL OR PUNITIVE DAMAGES FROM AN INDEMNITEE.&nbsp;&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904175"></a><a name="_Toc85207250"></a><a name="_Toc90923826"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;10</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904175"></a><a name="_Toc85207250"></a><a name="_Toc90923826"></a>TERM AND TERMINATION</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904176"></a><a name="_Toc85207251"></a><a name="_Toc90923827"></a><font style="Background-color:#auto;text-decoration:none;">10.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Term</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; This Agreement shall become effective as of the Effective Date and, unless earlier terminated pursuant to the other provisions of this Article&#160;10, shall continue until the last to expire Royalty Term in the Territory (the &#8220;<font style="font-weight:bold;">Term</font>&#8221;).&nbsp;&nbsp;Upon expiration (but not earlier termination) of this Agreement, the licenses granted to INNOCOLL hereunder will be irrevocable, royalty-free and fully paid-up.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904177"></a><a name="_Toc85207252"></a><a name="_Ref87807276"></a><a name="_Ref87807307"></a><a name="_Ref87805230"></a><a name="_Toc90923828"></a><font style="Background-color:#auto;text-decoration:none;">10.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref463904178"></a><a name="_Ref463904178"></a>.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref83718291"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination for Convenience</font><font style="color:#000000;">.&nbsp;&nbsp;INNOCOLL shall have the right to terminate this Agreement for convenience upon six (6) months&#8217; prior written notice to DURECT referencing this Section&#160;10.2(a).&nbsp;&nbsp;</font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-28</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475134013"></a><a name="_Ref473532558"></a><a name="_Ref87807279"></a><font style="text-decoration:none;Background-color:#auto;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination for </font><font style="text-decoration:underline;color:#000000;">Safety or Efficacy</font><font style="color:#000000;">. </font><font style="color:#000000;"> </font><font style="color:#000000;">Notwithstanding anything contained herein</font><font style="color:#000000;"> to </font><font style="color:#000000;">the contrary</font><font style="color:#000000;">, INNOCOLL </font><font style="color:#000000;">shall</font><font style="color:#000000;"> have the right to terminate this Agreement </font><font style="color:#000000;">at any time in the event that </font><font style="color:#000000;">INNOCOLL</font><font style="color:#000000;"> </font><font style="color:#000000;">reasonably believes</font><font style="color:#000000;"> that there are potential safety or efficacy concerns affecting the Licensed Products, by giving thirty (30) days&#8217; advance</font><font style="color:#000000;"> written notice to DURECT</font><font style="color:#000000;">; </font><font style="color:#000000;">provided that, at least thirty (30) days prior to providing DURECT with any such notice of termination, INNOCOLL will notify DURECT of the facts and circumstances giving rise to such right of termination, and if requested by DURECT, discuss in good faith possible alternatives to termination</font><font style="color:#000000;">.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref470600235"></a><a name="_Ref89856772"></a><a name="Challenge"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination for Patent Challenge</font><font style="color:#000000;">.&nbsp;&nbsp;If INNOCOLL or any of its Affiliates initiates a challenge under any court action or proceeding, or before the USPTO (except for a case where such actions undertaken by an Affiliate of INNOCOLL that first becomes such an Affiliate as a result of an acquisition of all or any part of INNOCOLL or any of its Affiliates, where such new Affiliate was participating in the challenge prior to such acquisition and immediately ceases such actions following such acquisition), of the validity, patentability or enforceability of any Licensed Patent, or initiates a reexamination or similar proceeding of any Licensed Patent, or directly assists any Third Party to conduct any of the foregoing activities, but excluding where INNOCOLL is involuntarily joined to any challenge or any ordinary course patent prosecution by or on behalf of INNOCOLL<a name="Challenge"></a> (each, a &#8220;</font><font style="font-weight:bold;color:#000000;">Challenge</font><font style="color:#000000;">&#8221;), DURECT will have the right to terminate this Agreement immediately following thirty (30) days&#8217; written notice to INNOCOLL referencing this Section&#160;10.2(c) and the specific facts giving rise to the termination, unless INNOCOLL or its applicable Affiliate has filed a motion to dismiss such action within [***] following receipt of such notice.&nbsp;&nbsp;In any event, INNOCOLL shall notify DURECT at least [***] prior to initiating any such Challenge.&nbsp;&nbsp;In the event that any sublicensee of INNOCOLL or its Affiliates to the Licensed Patents initiates a Challenge, upon the written request from DURECT, INNOCOLL shall promptly terminate the applicable sublicense agreement.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref23345684"></a><a name="_Ref463904181"></a><a name="_Ref470600243"></a><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination for Material Breach</font><font style="color:#000000;">.&nbsp;&nbsp;In the event a Party materially breaches this Agreement, and such breach shall have continued for [***] after notice thereof was provided to the breaching Party, the non-breaching Party will have the right to terminate this Agreement [***]written notice to the breaching Party referencing this Section&#160;10.2(d).&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination for Insolvency</font><font style="color:#000000;">.&nbsp;&nbsp;Either Party shall have the right to terminate this Agreement in the event the other Party becomes insolvent.&nbsp;&nbsp;&#8220;</font><font style="font-weight:bold;color:#000000;">Insolvent</font><font style="color:#000000;">&#8221; means that a Party (i) is declared insolvent or bankrupt by a court of competent jurisdiction, (ii) files a voluntary petition in bankruptcy in any court of competent jurisdiction, (iii) has an involuntary petition filed against it and such petition is not dismissed within [***] after filing, (iv) makes or executes an assignment of substantially all of its assets for the benefit of creditors, or (v) &#160;has a receiver or trustee appointed for substantially all of its assets or business, unless such appointment is dismissed or set aside within [***] from the date of such appointment. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref476841649"></a><a name="_Ref463904183"></a><a name="_Toc85207254"></a><a name="_Toc90923829"></a><font style="Background-color:#auto;text-decoration:none;">10.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Effects of Termination</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref463904184"></a><a name="_Ref463904184"></a>.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref90555365"></a><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Reversion of Rights</font><font style="color:#000000;">.&nbsp;&nbsp;Upon termination of the Agreement for any reason, subject to Sections 10.3(c) and 10.4(c), all rights, licenses and assignments granted by DURECT to INNOCOLL under this Agreement shall revert back to DURECT without any charge.&nbsp;&nbsp;</font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-29-</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904185"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Return of Transferred Know-How</font><font style="color:#000000;">.&nbsp;&nbsp;Upon termination of the Agreement by INNOCOLL pursuant to Section&#160;10.2(a) or 10.2(b), or by DURECT pursuant to Section&#160;10.2, INNOCOLL shall promptly return to DURECT copies of the Data and Licensed Know-How that were transferred by DURECT to INNOCOLL under this Agreement.&nbsp;&nbsp;In addition, INNOCOLL shall or shall cause its Affiliates and sublicensees to assign or transfer back to DURECT, at INNOCOLL&#8217;s expense, (1) the IND, NDA and any other Regulatory Materials that were transferred by DURECT to INNOCOLL hereunder and (2) the Product Supply Agreement as such agreement exists at the effective date of termination.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref87806633"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Clinical Trials</font><font style="color:#000000;">.&nbsp;&nbsp;In the event of termination of the Agreement for any reason, if applicable, INNOCOLL shall be permitted to continue in its sole discretion any ongoing clinical trial for a Licensed Product for which INNOCOLL has responsibility and in which patient dosing has commenced.&nbsp;&nbsp;In the event the agreement is terminated by INNOCOLL pursuant to Section&#160;10.2(a) or 10.2(b), or (a) by DURECT pursuant to Section&#160;10.2(c) or (b), if INNOCOLL elects not to continue such trial, DURECT, at its sole election, shall have the right but not the obligation to take over the cost and responsibility for such trial, in which case INNOCOLL shall use [***] to effect a smooth transition of such trial to DURECT or its designee. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref476841681"></a><a name="_Toc85207255"></a><a name="_Toc90923830"></a><font style="Background-color:#auto;text-decoration:none;">10.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">General Effects of Expiration or Termination</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Accrued Obligations</font><font style="color:#000000;">.&nbsp;&nbsp;Expiration or termination of this Agreement for any reason shall not release either Party of any obligation or liability which, at the time of such expiration or termination, has already accrued to the other Party or which is attributable to a period prior to such expiration or termination.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904187"></a><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Non-Exclusive Remedy</font><font style="color:#000000;">.&nbsp;&nbsp;Notwithstanding anything herein to the contrary, termination of this Agreement by a Party shall be without prejudice to other remedies such Party may have at law or equity.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref87807928"></a><a name="_Ref463904189"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Inventory</font><font style="color:#000000;">.&nbsp;&nbsp;In the event of a termination of this Agreement, INNOCOLL will have the right, but not the obligation, for [***] following the effective date of such termination to sell any remaining inventory of Licensed Product controlled by INNOCOLL or its Affiliates, as long as INNOCOLL continues to make milestone payments and pay Royalties under Article&#160;6 in respect of the Net Sales resulting from sales of such inventory.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:14.81%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">General Survival</font><font style="color:#000000;">.&nbsp;&nbsp;Articles&#160;1, 11 and 12 and Sections&#160;6.4, 6.5, 7.1, 7.2, 8.1, 8.2, 8.3, 9.3, 9.4, 9.5 (for the period specified therein), 9.6, 10.3, 10.4 and </font><font style="text-decoration:underline;color:#000000;">Exhibit&#160;1.16</font><font style="color:#000000;"> (Paragraphs II(e), (f), and (g) (with respect to periods during the Term and under Section&#160;10.4)) shall survive expiration or termination of this Agreement for any reason.&nbsp;&nbsp;Except as otherwise provided in this Article&#160;10, all rights and obligations of the Parties under this Agreement shall terminate upon expiration or termination of this Agreement for any reason.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904190"></a><a name="_Toc85207256"></a><a name="_Toc90923831"></a><font style="Background-color:#auto;text-decoration:none;">10.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Termination Press Releases</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; In the event of termination of this Agreement for any reason, the Parties shall cooperate in good faith to coordinate public disclosure of such termination, and shall not, except to the extent required by Applicable Law, including securities laws and </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-30</a>-</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">regulations, disclose such information without the prior approval of the other Party, such approval not to be unreasonably withheld, conditioned or delayed.&nbsp;&nbsp;To the extent possible under the situation, each Party shall provide the other Party with a draft of any such public disclosure it intends to issue, if any, </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">***</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> in advance and with the opportunity to </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">review</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and comment on such statement, it being understood that if the Party receiving such draft does not notify the other Party in writing within such </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">***</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> period (or such shorter period if required by Applicable Law) of any reasonable objections, such disclosure shall be deemed approved, and in any event the Parties shall work diligently and reasonably to agree on the text of any such proposed disclosure in an expeditious manner.&nbsp;&nbsp;</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904191"></a><a name="_Toc85207257"></a><a name="_Toc90923832"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;11</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904191"></a><a name="_Toc85207257"></a><a name="_Toc90923832"></a>DISPUTE RESOLUTION</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref469659600"></a><a name="_Ref469659614"></a><a name="_Toc85207258"></a><a name="_Toc90923833"></a><a name="_Ref468442081"></a><a name="_Ref468442271"></a><font style="Background-color:#auto;text-decoration:none;">11.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Dispute Resolution</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Dispute"></a>.&#160; The Parties agree that any dispute, controversy or claim arising out of or in connection with this Agreement<a name="Dispute"></a> (each, a &#8220;<font style="font-weight:bold;">Dispute</font>&#8221;), shall be resolved through the procedures set forth in this Article&#160;11.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Toc90923834"></a><a name="_cp_text_2_808"></a><font style="Background-color:#auto;text-decoration:none;">11.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Excluded Claims</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_cp_text_5_809"></a><a name="_cp_text_2_810"></a>.&nbsp;&nbsp;Any Dispute relating to the inventorship, <a name="_cp_text_5_809"></a>scope, <a name="_cp_text_2_810"></a>validity, enforceability or infringement of a patent, trademark or copyright, or any antitrust, anti-monopoly or competition law or regulation (an &#8220;<font style="font-weight:bold;">Excluded Claim</font>&#8221;) shall not be subject to binding arbitration under Section&#160;11.4, but instead shall be submitted to a court of competent jurisdiction. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref475200770"></a><a name="_Toc85207259"></a><a name="_Toc90923835"></a><a name="_Ref270033027"></a><a name="_Ref270040653"></a><a name="_Ref270040675"></a><a name="_Ref468442701"></a><a name="_Ref469646282"></a><font style="Background-color:#auto;text-decoration:none;">11.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Initial Escalation</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; With respect to all Disputes, if the Parties are unable to resolve any such Dispute within [***] after such Dispute is first identified by either Party in writing to the other, either Party shall have the right to refer such Dispute to the Chief Executive Officer of each Party (&#8220;<font style="font-weight:bold;">CEOs</font>&#8221;) for attempted resolution by written notice to the other Party referencing the particular Dispute and this Section&#160;11.3.&nbsp;&nbsp;In such case, the CEOs shall conduct good faith negotiations and seek to resolve the Dispute within [***] after such notice is received.&nbsp;&nbsp;If the CEOs resolve such Dispute, a memorandum setting forth their agreement to resolve the Dispute will be prepared and signed by both Parties if requested by either Party.&nbsp;&nbsp;In all events, the Parties shall cooperate in an effort to limit the issues for consideration in such manner as narrowly as reasonably practicable in order to resolve the Dispute.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref23345664"></a><a name="_Toc85207260"></a><a name="_Toc90923836"></a><a name="_Ref270040695"></a><a name="_Ref270040710"></a><a name="_Ref272667563"></a><a name="_Ref468442996"></a><font style="Background-color:#auto;text-decoration:none;">11.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Binding Arbitration</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref425520335"></a><a name="_Ref270040730"></a><a name="_Ref468443002"></a><a name="_Ref469646305"></a><a name="_Ref425520335"></a>.&#160; If a Dispute other than an Excluded Claim is not resolved by negotiation pursuant to Section&#160;11.3<a name="_Ref270040730"></a>, such Dispute shall be finally settled under the Rules of <a name="_Ref468443002"></a><a name="_Ref469646305"></a>JAMS (f/k/a Judicial Arbitration &amp; Mediation Services) by one (1) arbitrator appointed in accordance with the rules.&nbsp;&nbsp;The arbitrator shall be a neutral and independent individual.&nbsp;&nbsp;The arbitrator shall have no authority to award punitive or any other type of damages not measured by a Party&#8217;s compensatory damages, except as allowed under Section&#160;9.6.&nbsp;&nbsp;Each Party shall bear its own costs and expenses and attorneys&#8217; fees and an equal share of the arbitrator&#8217;s and any administrative fees of arbitration, unless the arbitrator determines that a Party has incurred unreasonable expenses due to vexatious or bad faith position taken by the other Party, in which event, the arbitrator may make an award of all or any portion of such expense so incurred.&nbsp;&nbsp;Except to the extent necessary to confirm an award or in seeking interim relief under Section&#160;11.5, or as may be required by Applicable Law, and subject to Article&#160;8, neither Party nor the arbitrator may disclose the existence, content, or results of an arbitration without </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-31-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the prior written consent of both Parties.&nbsp;&nbsp;The legal </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">place of arbitration shall be San Francisco, California.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref469646419"></a><a name="_Toc85207261"></a><a name="_Toc90923837"></a><font style="Background-color:#auto;text-decoration:none;">11.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Interim Relief</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Either Party may seek in a court of competent jurisdiction or as part of the arbitration proceedings, immediate injunctive or other provisional relief as necessary to enforce the terms of this Agreement.&#160; The Parties hereto acknowledge and agree that any breach of the terms of this Agreement could give rise to irreparable harm for which money damages would not be an adequate remedy and accordingly the Parties agree that, in addition to any other remedies, each Party shall be entitled to obtain preliminary or injunctive relief and to enforce the terms of this Agreement by a decree of specific performance without payment of a bond or surety.&#160; Any request to a court of competent jurisdiction for relief as set forth in this paragraph shall not be deemed incompatible with the agreement to arbitrate or a waiver of the right to arbitrate.&#160;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:uppercase;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904195"></a><a name="_Toc85207262"></a><a name="_Toc90923838"></a><font style="Background-color:#auto;text-decoration:none;">Article&#160;12</font><font style="text-transform:none;margin-left:36pt;color:#000000;"></font><font style="text-transform:none;color:#000000;"><br /><a name="_Ref463904195"></a><a name="_Toc85207262"></a><a name="_Toc90923838"></a>MISCELLANEOUS</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904196"></a><a name="_Toc85207263"></a><a name="_Toc90923839"></a><font style="Background-color:#auto;text-decoration:none;">12.1</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Governing Law</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; This Agreement and any Dispute shall be governed by and construed and enforced in accordance with the substantive laws of the State of Delaware, without reference to conflicts of laws principles.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904197"></a><a name="_Toc85207264"></a><a name="_Toc90923840"></a><font style="Background-color:#auto;text-decoration:none;">12.2</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Assignment</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; This Agreement may not be assigned or transferred by either Party without the prior written consent of the other Party, except as follows: (a) a Party may, subject to the terms of this Agreement, assign its rights and delegate its obligations under this Agreement in whole to its successor-in-interest in connection with the sale of all or substantially all of its assets to which this Agreement relates, whether in a merger, acquisition, or similar transaction or series of related transactions, as long as such successor-in-interest agrees in writing to be bound by the terms and conditions of this Agreement; and (b) a Party may assign its rights and delegate its obligations under this Agreement to any of its Affiliates, as long as, in each case ((a) and (b)), such assigning Party remains liable for all of its rights and obligations under this Agreement.&nbsp;&nbsp;No assignment or transfer of this Agreement shall be valid and effective unless and until the assignee/transferee agrees in writing to be bound by the provisions of this Agreement.&nbsp;&nbsp;Any attempted assignment or transfer in violation of this Section&#160;12.2 shall be null and void.&nbsp;&nbsp;Subject to the foregoing, this Agreement shall be binding on and inure to the benefit of the Parties&#8217; respective successors and permitted assigns.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904198"></a><a name="_Toc85207265"></a><a name="_Toc90923841"></a><font style="Background-color:#auto;text-decoration:none;">12.3</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Consequences of Bankruptcy</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; The Parties acknowledge and agree that all rights and licenses now or hereafter granted under or pursuant to any Section&#160;of this Agreement are rights to &#8220;intellectual property&#8221; as defined in Section&#160;101(35A) of Title&#160;11 of the United States Code.&nbsp;&nbsp;Each Party may elect to retain and may fully exercise all of its rights and elections under Section&#160;365(n) of Title&#160;11 of the United States Code.&nbsp;&nbsp;In the event of the commencement of a bankruptcy proceeding by or against a Party under the Bankruptcy Code (the &#8220;<font style="font-weight:bold;">Insolvent Party</font>&#8221;), the other Party will be entitled to a complete duplicate of (or complete access to, as appropriate) any Intellectual Property licensed to it under this Agreement and all embodiments of such Intellectual Property (including all information related to such Intellectual Property and rights of reference with respect to Regulatory Materials), and same, if not already in its possession, will be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon its written request therefor, unless the Insolvent </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-32</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Party continues to perform all of its obligations under this Agreement, or (b) if not delivered or granted under (a) above, following the rejection of this Agreement by or on behalf of the Insolvent Party upon written request therefor by the other Party. </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> For clarity, the foregoing shall not expand any license granted herein.</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904199"></a><a name="_Toc85207266"></a><a name="_Toc90923842"></a><font style="Background-color:#auto;text-decoration:none;">12.4</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Notices</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Any notice, request, delivery, approval or consent required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been sufficiently given if delivered in person, transmitted by facsimile (receipt verified) or by express courier service (signature required) or [***] after it was sent by registered letter, return receipt requested (or its equivalent), provided that no postal strike or other disruption is then in effect or comes into effect within [***] after such mailing, to the Party to which it is directed at its address or facsimile number shown below or such other address or facsimile number as such Party will have last given by notice to the other Party.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If to DURECT, addressed to:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:29.63%;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Durect Corporation</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10260 Bubb Road</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cupertino, CA 95014</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attention: Legal Department</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Telephone: [***]</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Facsimile: [***]</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:29.63%;white-space:nowrap">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With a copy to:</font></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Wilson Sonsini Goodrich&#160;&amp; Rosati, P.C.</p></td></tr></table></div>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">650 Page Mill Road</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Palo Alto, CA&nbsp;&nbsp;94304-1050</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attention: Ian B. Edvalson, Esq.</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Telephone: [***]</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Facsimile: [***] </p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If to INNOCOLL, addressed to:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Innocoll Pharmaceuticals Limited</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unit 9, Block D</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Monksland Business Park</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Monksland</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Athlone</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Co. Roscommon</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ireland</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attention:&nbsp;&nbsp;Chief Executive Officer</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-33</a>-</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With a copy to:</font><font style="margin-left:36pt;"></font><font style="margin-left:36pt;">Latham &amp; Watkins, LLP</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">140 Scott Drive</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Menlo Park, CA 94025</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attention:&nbsp;&nbsp;Judith A. Hasko, Esq.</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Phone: [***]</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:37.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Fax: [***]</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904200"></a><a name="_Toc85207267"></a><a name="_Toc90923843"></a><font style="Background-color:#auto;text-decoration:none;">12.5</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Waiver</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Neither Party may waive or release any of its rights or interests in this Agreement except in writing.&nbsp;&nbsp;The failure of either Party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition.&nbsp;&nbsp;No waiver by either Party of any condition or term in any one or more instances shall be construed as a continuing waiver of such condition or term or of another condition or term.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904201"></a><a name="_Toc85207268"></a><a name="_Toc90923844"></a><font style="Background-color:#auto;text-decoration:none;">12.6</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Severability</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; If any provision hereof should be held invalid, illegal or unenforceable in any jurisdiction, the Parties shall negotiate in good faith a valid, legal and enforceable substitute provision that most nearly reflects the original intent of the Parties and all other provisions hereof shall remain in full force and effect in such jurisdiction and shall be liberally construed in order to carry out the intentions of the Parties as nearly as may be possible.&nbsp;&nbsp;Such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of such provision in any other jurisdiction.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904202"></a><a name="_Toc85207269"></a><a name="_Toc90923845"></a><font style="Background-color:#auto;text-decoration:none;">12.7</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Entire Agreement/Modification</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; This Agreement, including its Exhibits, and the other Transaction Agreements (once executed) sets forth all the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties and supersedes and terminates all prior agreements and understandings between the Parties including the Prior CDA and the non-binding term sheet between the Parties dated [***].&nbsp;&nbsp;No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties unless reduced to writing and signed by the respective authorized officers of the Parties.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904203"></a><a name="_Toc85207270"></a><a name="_Toc90923846"></a><font style="Background-color:#auto;text-decoration:none;">12.8</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Relationship of the Parties</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; The Parties agree that the relationship of DURECT and INNOCOLL established by this Agreement is that of independent contractors.&nbsp;&nbsp;Furthermore, the Parties agree that this Agreement does not, is not intended to, and shall not be construed to, establish an employment, agency or any other relationship.&nbsp;&nbsp;Except as may be specifically provided herein, neither Party shall have any right, power or authority, nor shall they represent themselves as having any authority to assume, create or incur any expense, liability or obligation, express or implied, on behalf of the other Party, or otherwise act as an agent for the other Party for any purpose.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904204"></a><a name="_Toc85207271"></a><a name="_Toc90923847"></a><font style="Background-color:#auto;text-decoration:none;">12.9</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Force Majeure</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160;&#160;Neither Party shall be liable to the other for failure or delay in the performance of any of its obligations under this Agreement for the time and to the extent such failure or delay is caused by earthquake, riot, civil commotion, war, terrorist acts, strike, flood, or other cause that is beyond the reasonable control of the respective Party.&nbsp;&nbsp;The Party affected by such force majeure will provide the other Party with full particulars thereof as soon as it becomes aware of the same (including its best estimate of the likely extent and duration of the interference with its activities), and will use [***] to overcome the difficulties created thereby and to resume performance of its obligations as soon as practicable.</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-34</a>-</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904205"></a><a name="_Toc85207272"></a><a name="_Toc90923848"></a><font style="Background-color:#auto;text-decoration:none;">12.10</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Compliance with Applicable Law</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; Notwithstanding anything to the contrary herein, all rights and obligations of DURECT and INNOCOLL are subject to prior compliance with, and each Party shall comply with, Applicable Law, including obtaining all necessary approvals required by the applicable agencies of the United States government.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_Ref463904206"></a><a name="_Toc85207273"></a><a name="_Toc90923849"></a><font style="Background-color:#auto;text-decoration:none;">12.11</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Counterparts</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&#160; This Agreement may be executed in two (2) counterparts, each of which shall be deemed an original, and all of which together, shall constitute one and the same instrument.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[<font style="font-style:italic;">Intentionally left blank; signature page follows</font>]</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-35</a>-</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">IN WITNESS WHEREOF<font style="font-weight:normal;">, the Parties have caused their duly authorized representatives to execute this Agreement as of the Effective Date.</font></p>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">DURECT CORPORATION</font></p></td>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="font-weight:normal;"></font>INNOCOLL PHARMACEUTICALS LTD.</p></td></tr></table></div>
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<p style="margin-top:18pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:&nbsp;&nbsp;</font><font style="text-decoration:underline;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/</font><font style="text-decoration:underline;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Jim Brown</font></p></td>
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<p style="margin-top:18pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;"></font>By:&nbsp;&nbsp;<font style="text-decoration:underline;">/s/ Louis Pascarella</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name:&nbsp;&nbsp;</font><font style="text-decoration:underline;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Jim Brown</font></p></td>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;"></font>Name:&nbsp;&nbsp;<font style="text-decoration:underline;">Louis Pascarella</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title:&nbsp;&nbsp;</font><font style="text-decoration:underline;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">CEO</font></p></td>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;"></font>Title:&nbsp;&nbsp;<font style="text-decoration:underline;">CEO</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:bold;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\127839505.14</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">List of Exhibits:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;1.5</font>:<font style="margin-left:36pt;">Assigned Trademark</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;1.16</font>:&nbsp;&nbsp;<font style="margin-left:36pt;">Financial Exhibit</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;1.23</font>:&nbsp;&nbsp;<font style="margin-left:36pt;">Licensed Patents</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;1.24</font>:<font style="margin-left:36pt;">Initial Product</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;5.1</font>:<font style="margin-left:36pt;">Materials Purchase </font>And Reimbursed Expenses</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;5.2</font>:<font style="margin-left:36pt;">Key Terms </font>For Excipient Supply Agreement</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;9.2</font>: <font style="margin-left:36pt;"></font>Exceptions To Representations &amp; Warranties</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit&#160;9.5</font>:<font style="margin-left:36pt;">Insurance Requirements</font></p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 1.5</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">ASSIGNED TRADEMARK</p>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:center;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Mark</p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:center;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Registration No.</p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:center;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Jurisdiction</p></td>
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<p style="margin-bottom:6pt;margin-top:6pt;text-align:center;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 1.16<br />FINANCIAL EXHIBIT</p>
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<p style="margin-bottom:6pt;margin-top:12pt;text-align:justify;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">I.</font></p></td>
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<p style="margin-bottom:6pt;margin-top:12pt;text-align:justify;text-indent:0%;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;">Milestone Payments</font><font style="font-weight:normal;">.</font></p></td></tr></table></div>
<p style="margin-bottom:6pt;margin-top:0pt;text-align:justify;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">INNOCOLL shall pay DURECT the corresponding amount following the occurrence of each milestone event set forth on subsections a), b) and c) below (each, a &#8220;<font style="font-weight:bold;">Milestone Event</font>&#8221;).</p>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">a)</font></p></td>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Regulatory Milestones</font><font style="color:#000000;">: INNOCOLL shall pay to DURECT [***]set forth in the following table [***] upon the [***]:</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:99.9%;">
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<td style="width:99.9%;"></td>
</tr>
<tr style="height:76.6pt;">
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="margin-bottom:6pt;margin-top:0pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Regulatory Milestone Event</font></p>
<p style="margin-bottom:6pt;margin-top:0pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Regulatory Milestone Payment (U.S. Dollars)</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***] of the [***] for any [***] after [***]</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***][***] of the [***] for any [***] after [***]</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
</table></div>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Commercial Milestones</font>:&nbsp;&nbsp;INNOCOLL shall pay to DURECT [***]set forth in the following table [***] upon the [***]:</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:5.56%;width:96.3%;">
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<td style="width:51.85%;"></td>
<td style="width:44.44%;"></td>
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<tr>
<td valign="bottom"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Commercialization Milestone Event</p></td>
<td valign="bottom"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Commercialization Milestone Payment</p>
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(U.S. Dollars)</p></td>
</tr>
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<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1.</font><font style="color:#000000;">First Commercial Sale of Licensed Product in the Licensed Territory</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Two Million Dollars ($2,000,000)</p></td>
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<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2.</font><font style="color:#000000;">[***] of [***] in the [***] equal to or greater than [***]</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">3.</font><font style="color:#000000;">[***] of [***] in the [***] equal to or greater than [***]</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">4.</font><font style="color:#000000;">[***] of [***] in the [***] equal to or greater than [***]</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">5.</font><font style="color:#000000;">[***] of [***] in the [***] equal to or greater than [***]</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">6.</font><font style="color:#000000;">[***] of [***] in the [***] equal to or greater than [***]</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="text-align:justify;margin-bottom:3pt;margin-top:3pt;margin-left:36pt;;text-indent:-18pt;;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">7.</font><font style="color:#000000;">[***] of [***] in the [***] equal to or greater than [***]</font></p></td>
<td valign="top"  style="padding-left:5.75pt;padding-Right:5.75pt;padding-Bottom:1.45pt;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For clarity, if [***] occurs in a particular calendar year all corresponding [***] for such [***] so occurring in such calendar year shall [***] as described in this <font style="text-decoration:underline;">Financial Exhibit</font>; however, </p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">it is understood that </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> shall be </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> of the applicable </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> even if such </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> is achieved </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;</font></p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="text-align:justify;margin-bottom:12pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">b)</font></p></td>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Patent Milestones</font><font style="color:#000000;">.&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, INNOCOLL shall pay to DURECT [***] set forth in the following table .&nbsp;&nbsp;</font></p></td></tr></table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:6.43%;width:93.47%;">
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<td style="width:55.56%;"></td>
<td style="width:37.91%;"></td>
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<td valign="bottom" >
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patent Milestone Event</p></td>
<td valign="bottom" >
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patent Milestone Payment </p>
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(U.S. Dollars)</p></td>
</tr>
<tr>
<td valign="top" >
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The issuance of an [***] with a [***] of such [***], with such [***]having an [***]</p></td>
<td valign="top" >
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
</tr>
<tr>
<td valign="top" >
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The issuance of an [***] with a [***] of such [***], with such [***]having an [***]</p></td>
<td valign="top" >
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.41%;white-space:nowrap">
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">c)</font></p></td>
<td valign="top">
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Payment Terms</font><font style="color:#000000;">.&nbsp;&nbsp;INNOCOLL shall notify DURECT [***] of the occurrence of [***] of the occurrence thereof and pay the [***] of receiving an [***].&nbsp;&nbsp;DURECT shall notify INNOCOLL [***] of occurrence of [***] and INNOCOLL shall [***] within [***] such notice and invoice therefor.&nbsp;&nbsp;For clarity, [***] under this Paragraph I shall be [***].</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">II.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Royalties</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Royalty Payments</font>.&nbsp;&nbsp;Subject to Section&#160;II(b) (Royalty Term) and Section&#160;II(c) (Royalty Reduction), INNOCOLL shall pay to DURECT [***] at the [***]t in the [***] as set forth below:</p>
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<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:6.48%;width:93.7%;">
<tr>
<td style="width:68.52%;"></td>
<td style="width:25.19%;"></td>
</tr>
<tr>
<td valign="bottom"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:left;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Portion of <font style="font-weight:normal;">[***]</font> of <font style="font-weight:normal;">[***]</font></p></td>
<td valign="bottom"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:left;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]<font style="font-weight:bold;">Rate (</font>[***]<font style="font-weight:bold;">)</font></p></td>
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<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style="padding-left:5.4pt;padding-Right:5.4pt;">
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:36pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.41%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For example, in the event the applicable Annual Net Sales of Licensed Product is [***], then the royalty owed for such period would be [***].</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">d)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Royalty Term</font><font style="color:#000000;">.&nbsp;&nbsp;Royalties payable under Section&#160;II(a) (Royalty Payments) shall be paid by INNOCOLL on a [***] from the [***] in the [***] until the [***]: (i) [***]of the last [***] of a [***] the [***] of such [***] in the [***], (ii) the [***] for such [***] in the [***], and (iii) [***] from the [***] of the [***].</font></p></td></tr></table></div>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">e)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:none;Background-color:#auto;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Generic Products</font><font style="color:#000000;">.</font><font style="color:#000000;"> If a </font><font style="color:#000000;">[***]</font><font style="color:#000000;">of a </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> is </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> by a </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> during the </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, and for so long as any such </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> is on the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> and the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of such </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> is </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of the corresponding </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> and all such </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in any given </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, then the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> pursuant to Paragraph II(a) on account of </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in such </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> and each </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> thereafter shall be </font><font style="color:#000000;">[***]</font><font style="color:#000000;">.&nbsp;&nbsp;If the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of such </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of the amount </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of the corresponding </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in any given </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, then the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> pursuant to Paragraph II(a) on account of </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> such corresponding </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in such </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> and each </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> for so long as the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> shall be </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> by the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> of all </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> in the corresponding </font><font style="color:#000000;">[***]</font><font style="color:#000000;">.&nbsp;&nbsp;Should </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> on a </font><font style="color:#000000;">[***]</font><font style="color:#000000;"> be </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, INNOCOLL shall have </font><font style="color:#000000;">[***]</font><font style="color:#000000;">, subject to </font><font style="color:#000000;">[***]</font><font style="color:#000000;">. </font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">f)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Royalty Reduction</font><font style="color:#000000;">.&nbsp;&nbsp;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">i.</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Third Party Payments</font><font style="color:#000000;">.&nbsp;&nbsp;On a Licensed Product-by- Licensed Product basis, subject to Section&#160;II(d)(ii) (Anti-Stacking), INNOCOLL may deduct from the [***] otherwise [***] pursuant to Section&#160;II(a) (Royalty Payments) with respect to such [***] with respect to such [***].</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">ii.</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Anti-Stacking</font><font style="color:#000000;">. [***].</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">g)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Payment/Reports</font><font style="color:#000000;">.&nbsp;&nbsp;All payments under this Section&#160;II shall be due and payable [***] after the [***] during which the corresponding [***].&nbsp;&nbsp;Together with any such payment, [***] specifying: (i) [***] during the [***]; (ii) [***]; and (iii) amounts [***] from [***] to calculate [***]. </font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">h)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Inspection of Records</font><font style="color:#000000;">.&nbsp;&nbsp;INNOCOLL shall, and shall cause its Affiliates to, [***] setting forth [***] taken to [***] and other amounts [***] under this Section&#160;II.&nbsp;&nbsp;INNOCOLL shall permit [***], to examine such books and records [***].&nbsp;&nbsp;In no event will such examinations be conducted [***] than [***].&nbsp;&nbsp;Such accountants may be required [***]to enter into [***] which will include provisions [***] to only whether the [***] and the amount of [***].&nbsp;&nbsp;[***]of any such [***]provided that if the [***]shows an [***] of the [***]in connection with such examination and review.&nbsp;&nbsp;INNOCOLL shall [***].&nbsp;&nbsp;Any overpayment [***] under this Section&#160;II.</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">i)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Late Payment</font><font style="color:#000000;">.&nbsp;&nbsp;Subject to Section&#160;II(g) (Disputed Payments), any undisputed payments or portions thereof due hereunder which are [***] shall [***] equal to [***] of (i) the [***] to the [***] for the [***], as published by [***], on the [***], plus an [***], or (ii)&#160;the [***] permitted by [***], calculated on [***].&nbsp;&nbsp;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">j)</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><a name="OLE_LINK11"></a><a name="OLE_LINK12"></a><font style="Background-color:#auto;text-decoration:none;"></font><font style="color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Disputed Payments</font><font style="color:#000000;">.&nbsp;&nbsp;If a dispute arises between the Parties, each acting in good faith, in respect of any part of an invoice, the disputing Party shall [***]<a name="OLE_LINK11"></a><a name="OLE_LINK12"></a>.&nbsp;&nbsp;Each Party shall use [***] to promptly and in good faith resolve the dispute in accordance with Article&#160;11 (Dispute Resolution).&nbsp;&nbsp;Payment of any resolved amounts shall be made within [***] following the resolution of such dispute, and, unless [***], the payee Party may not use such withholding as a basis for terminating this Agreement pursuant to Section&#160;10.2(d) (Termination for Material Breach).</font></p></td></tr></table></div>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.41%;text-indent:-7.41%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 1.23<br />LICENSED PATENTS<br /></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Hlk83991744"></a>[***]: [***]</p>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">App. No.</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patent No.</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Issue Date</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
<tr>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
</table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]: [***]</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100.28%;">
<tr>
<td style="width:9.7%;"></td>
<td style="width:7.57%;"></td>
<td style="width:7.57%;"></td>
<td style="width:9.68%;"></td>
<td style="width:17.14%;"></td>
<td style="width:14.32%;"></td>
<td style="width:19.97%;"></td>
<td style="width:14.32%;"></td>
</tr>
<tr>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Country</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Sub Case</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Case Type</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Status</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">App. No.</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Filing Date</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patent No.</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Issue Date</p></td>
</tr>
<tr>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
</tr>
</table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]: [***]</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100.1%;">
<tr>
<td style="width:9.67%;"></td>
<td style="width:7.57%;"></td>
<td style="width:7.57%;"></td>
<td style="width:11.55%;"></td>
<td style="width:19.05%;"></td>
<td style="width:13.65%;"></td>
<td style="width:17.42%;"></td>
<td style="width:13.61%;"></td>
</tr>
<tr>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Country</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Sub Case</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Case Type</p></td>
<td valign="middle"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Status</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">App. No.</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Filing Date</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patent No.</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Issue Date</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:justify;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]: [***]</p>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Country</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Sub Case</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Case Type</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Status</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">App. No.</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Filing Date</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patent No.</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Issue Date</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000; border-left:solid 0.75pt #000000; border-right:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 1.24<br />INITIAL PRODUCT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">DURECT&#8217;s formulated product known, as of the Effective Date, as POSIMIR<sup style="font-size:85%;line-height:120%;vertical-align:top">&#174;</sup> and described NDA No. 204803.  </p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 5.1</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">MATERIALS PURCHASE AND REIMBURSED EXPENSES</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Descriptions</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Amount</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<tr>
<td valign="top"  style=" border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999; border-top:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total amount <font style="color:#000000;">[***]</font>:</p></td>
<td valign="top"  style=" border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999; border-top:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;color:#000000;">[***]</font> (see details below)</p></td>
</tr>
</table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 5.2</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">KEY TERMS FOR EXCIPIENT SUPPLY AGREEMENT</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:-0.93%;width:477pt;;">
<tr>
<td style="width:166.25pt;"></td>
<td style="width:310.75pt;"></td>
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<tr>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Agreement Term</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-right:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Term</p></td>
<td valign="top"  style=" border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999; border-top:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Term of the License Agreement</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Termination</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In accordance with the License Agreement</p></td>
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<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Forecasting</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">INNOCOLL to provide DURECT with [***]of needs at [***]prior to the [***]</p></td>
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<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Purchase and Supply Commitment</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Orders must be [***] of the forecasted amounts.&nbsp;&nbsp;[***] to accept and [***] for up to [***] of the [***]</p></td>
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<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Purchase Order Form</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To be agreed by the parties within [***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Order Acceptance</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***] of its [***] an order [***], subject to [***] Orders will be [***].</p></td>
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<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Shipment Terms</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Shipment Expenses</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">All [***] and [***] shall be [***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Title Transfer</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Transferred to [***] to the [***] for transport [***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Risk of Loss</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***] upon delivery to the [***] for transport to [***]`</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Product Inspection Period</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK19"></a><a name="OLE_LINK20"></a>[***] from [***] to [***]</p></td>
</tr>
<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Non-Conformance &amp; Testing</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK13"></a><a name="OLE_LINK13"></a>If [***] is found by [***] to be non-conforming, [***]shall [***]; otherwise [***] shall [***]</p></td>
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<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Manufacturing Standards</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Stock Pile</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***] commits to having [***] of excipient [***] within [***] from [***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Backup Manufacturing License</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Upon Release Condition, [***] shall grant to [***] a [***] to manufacture (through [***], such [***]) the excipient </p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Release Condition</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Release Condition occurs if (A) [***] to [***] with the properly-ordered excipient quantities for [***] or [***], or (B) [***]elects to transfer the [***] to [***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SAIB Supply &amp; Technology Transfer</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the event of the occurrence of a [***], [***]will [***] the process for the additional processing [***] for use in a [***], as to be set forth in the [***].</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pricing</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***].&nbsp;&nbsp;[***]shall have the [***] [***] upon [***] by an [***] not exceed the total aggregate percentage [***] (as reported [***]) since the [***]</p></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Invoicing</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Upon [***]</p></td>
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<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Payments</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due and payable [***]</p></td>
</tr></table></div>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<td style="width:310.75pt;"></td>
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<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Agreement Term</p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-right:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
</tr>
<tr>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="text-align:left;margin-bottom:3pt;margin-top:3pt;margin-left:0pt;;text-indent:0pt;;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">DMF</font></p></td>
<td valign="top"  style=" border-top:solid 0.75pt #999999; border-bottom:solid 0.75pt #999999; border-left:solid 0.75pt #999999; border-right:solid 0.75pt #999999;">
<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***] shall maintain [***], or shall transfer the [***] of the [***] in accordance with Section&#160;5.3 (Drug Master File) of the License Agreement</p></td>
</tr>
</table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 9.2<br />EXCEPTION TO REPRESENTATIONS &amp; WARRANTIES</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:bold;">&nbsp;</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[***] regarding [***]<br /></p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT 9.5</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">INSURANCE REQUIREMENTS</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="margin-left:36pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Worker&#8217;s Compensation and Employer&#8217;s Liability</font><font style="color:#000000;">.&nbsp;&nbsp;Workers&#8217; Compensation coverage with statutory limits and Employers&#8217; Liability coverage with a limit of [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="margin-left:72pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Products Liability</font><font style="color:#000000;">.&nbsp;&nbsp;Products Liability policy with a limit of [***]. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="margin-left:72pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Commercial General Liability</font><font style="color:#000000;">.&nbsp;&nbsp;A Commercial General Liability policy with a limit of [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(d)</font><font style="margin-left:72pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Automobile Liability</font><font style="color:#000000;">.&nbsp;&nbsp;An Automobile Liability policy with a [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(e)</font><font style="margin-left:72pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Professional Liability</font><font style="color:#000000;">.&nbsp;&nbsp;A Professional Liability policy with a limit [***].</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:7.41%;font-weight:normal;font-style:normal;color:#auto;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(f)</font><font style="margin-left:72pt;color:#000000;"></font><font style="text-decoration:underline;color:#000000;">Umbrella/Excess Coverage</font><font style="color:#000000;">.&nbsp;&nbsp;Umbrella liability coverage of [***].</font></p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p></body>
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