iBioPharma, Inc.
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>exhibit10_2.htm
<TEXT>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
        EXECUTION VERSION</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b>TAX RESPONSIBILITY ALLOCATION AGREEMENT</b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        This Tax Responsibility Allocation Agreement (the &ldquo;<u>Agreement</u>&rdquo;) is dated
        as of this 12th day of August, 2008, between Integrated BioPharma, Inc., a Delaware
        corporation (&ldquo;<u>BioPharma</u>&rdquo;), and iBioPharma, Inc., a Delaware corporation
        (&ldquo;<u>Biotechnologies</u>&rdquo;), either or both of which may be a
        &ldquo;party&rdquo; or &ldquo;parties&rdquo;.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        WHEREAS, as of June 20, 2008, BioPharma owned 100% of the issued and outstanding common
        stock of Biotechnologies;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        WHEREAS, the board of directors of BioPharma determined it would be in the best interests
        of BioPharma and its shareholders to distribute all of BioPharma&rsquo;s shares in
        Biotechnologies to the BioPharma shareholders (the &ldquo;<u>Distribution</u>&rdquo;) on
        the terms and conditions set forth in the Separation and Distribution Agreement dated
        November 14, 2007 between BioPharma and Biotechnologies (the &ldquo;<u>Distribution
        Agreement</u>&rdquo;) (the date of such Distribution, the &ldquo;<u>Distribution
        Date</u>&rdquo;);</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        WHEREAS, the parties intend that the Distribution qualify as a tax-free spin-off pursuant
        to Section 355 of the Internal Revenue Code of 1986, as amended (the
        &ldquo;<u>Code</u>&rdquo;);</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        WHEREAS, as of the date hereof, BioPharma is the common parent of an affiliated group of
        domestic corporations, including Biotechnologies, which has elected to file consolidated
        U.S. federal income tax returns and, as a result of the Distribution, Biotechnologies will
        not be a member of such group for the portion of the taxable year following the
        Distribution or in future taxable years;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        WHEREAS, the parties desire (i) to allocate the responsibilities for Income Tax (as
        hereinafter defined) of Biotechnologies, (ii) to allocate the responsibilities for Other
        Biotechnologies Tax (as hereinafter defined) and (iii) to provide for certain additional
        Tax (as hereinafter defined) matters;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein,
        the parties (each on behalf of itself, each of its subsidiaries as of the Distribution
        Date, and its future subsidiaries) hereby agree as follows:</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions. The following terms shall have the following
        meanings (such meanings to apply equally to both the singular and the plural forms of the
        terms defined). All section references are to this Agreement unless otherwise stated.<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Biotechnologies Business</u>&rdquo; means any businesses carried out by the
        Biotechnologies Group, now or in the past.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Biotechnologies Combined Income Tax</u>&rdquo; shall mean, with respect to any
        period for which the Biotechnologies Group is included in any of BioPharma&rsquo;s combined
        or unitary groups, the liability for state or local Income Tax of the Biotechnologies Group
        computed as though the</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        </p>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &nbsp;</p>

        <p align="justify">Biotechnologies Group filed a Tax Return separate from BioPharma for
        such taxable period, which amount shall not be less than zero.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Biotechnologies Federal Income Tax</u>&rdquo; shall mean, with respect to any
        period for which the Biotechnologies Group is included in BioPharma&rsquo;s consolidated
        group, the liability for U.S. federal Income Tax (including &ldquo;alternative minimum
        tax&rdquo;, if any) of the Biotechnologies Group computed as though the Biotechnologies
        Group filed a U.S. federal Income Tax Return separate from BioPharma for such taxable
        period, which amount shall not be less than zero.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Biotechnologies Group</u>&rdquo; shall mean, collectively or separately,
        Biotechnologies and any Subsidiary of Biotechnologies for which Biotechnologies has any
        direct or indirect Tax liability.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Biotechnologies State Income Tax</u>&rdquo; shall mean any state or local Income
        Tax imposed on any member of the Biotechnologies Group (which is not a Biotechnologies
        Combined Income Tax).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>BioPharma Group</u>&rdquo; shall mean, collectively or separately, BioPharma and
        any Subsidiary of BioPharma for which BioPharma has any direct or indirect Tax liability,
        other than any member of the Biotechnologies Group.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Income Tax</u>&rdquo; shall mean any tax imposed on net income.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Other Biotechnologies Tax</u>&rdquo; means any Tax of the Biotechnologies Group
        or with respect to the Biotechnologies Business that is not an Income Tax (whether payable
        directly by Biotechnologies Group or payable by a combined or unitary group that includes
        the Biotechnologies Group to the extent of Biotechnologies Group&rsquo;s portion of such
        Tax).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Post-Distribution Period</u>&rdquo; means all taxable periods or portions of
        periods beginning on or after the Distribution Date.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Pre-Distribution Period</u>&rdquo; means all taxable periods or portions of
        periods ending before the Distribution Date.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Subsidiary</u>&rdquo; means any corporation, company, partnership or other
        business organization of which 50% or more of its equity interests are owned by another
        corporation, company, partnership or other business organization.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Tax</u>&rdquo; means any income, gross income, gross receipts, profits, capital
        stock, franchise, withholding, payroll, social security, workers compensation,
        unemployment, disability, property, ad valorem, stamp, excise, severance, occupation,
        service, sales, use, license, lease, transfer, import, export, value added, alternative
        minimum, estimated or other similar tax (including any fee, assessment, or other charge in
        the nature of or in lieu of any tax) imposed by any governmental entity or political
        subdivision thereof, and any interest, penalties, additions to tax, or additional amounts
        in respect of the foregoing imposed on any taxpayer or consolidated, combined or unitary
        group of taxpayers.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="center">
        2</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="center">
        </p>
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        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Tax Authority</u>&rdquo; means, with respect to any Tax, the governmental entity
        or political subdivision thereof that imposes such Tax, and the agency (if any) charged
        with the collection of such Tax for such entity or subdivision.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Tax Benefit</u>&rdquo; means the amount that any item of loss, deduction or
        credit (or any other item) decreases Taxes paid or payable including any interest with
        respect thereto or interest that would have been payable but for such item, net of any Tax
        imposed on such interest.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Tax Contest</u>&rdquo; means an audit, review, examination, or any other
        administrative or judicial proceeding with the purpose or effect of re-determining any Tax
        (including any administrative or judicial review of any claim for refund).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Tax Detriment</u>&rdquo; means the amount that any item of income or gain (or any
        other item) increases Taxes paid or payable including any interest with respect
        thereto.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        &ldquo;<u>Tax Return</u>&rdquo; means any report of Tax due, any claims for refund of Tax
        paid, any information return with respect to Tax, any election made with respect to Tax, or
        any other similar report, statement, declaration, or document required to be filed under
        the Code or other law in respect of Tax, including any attachments, exhibits, or other
        materials submitted with any of the foregoing, and including any amendments or supplements
        to any of the foregoing for any taxpayer or consolidated, combined or unitary group of
        taxpayers.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Responsibility for Tax<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>BioPharma&rsquo;s Responsibility</u>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioPharma shall be responsible for and indemnify and hold
        harmless the Biotechnologies Group from (i) any liability for Biotechnologies Federal
        Income Tax and Biotechnologies Combined Income Tax with respect to the Pre-Distribution
        Period (other than Income Taxes described in Section 2.2(b); (ii) any Income Tax of the
        BioPharma Group by reason of Biotechnologies Group being severally liable for such Income
        Tax pursuant to Treasury Regulations Section 1.1502-6 or any analogous provision of state
        or local law; and (iii) any item described in Section 3.1 to the extent not covered by
        Section 3.2.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of clause (i) of Section
        2.1(a), for all periods in which Biotechnologies is a member of BioPharma&rsquo;s
        consolidated group, Biotechnologies shall be responsible for and shall pay to BioPharma, on
        or prior to the Distribution Date, an amount equal to the estimate of the Biotechnologies
        Federal Income Tax for such periods, as determined by BioPharma in good faith and in the
        ordinary course of business, subject to final determination of such amount as provided in
        Section 2.5(a).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of clause (i) of Section
        2.1(a), for all periods in which Biotechnologies or any other member of the Biotechnologies
        Group is a member of a state or local consolidated, combined or unitary group of which any
        member of the BioPharma Group is the parent, Biotechnologies shall be responsible for and
        shall pay to BioPharma, on or prior to the Distribution Date, an amount equal to the
        estimate of the Biotechnologies Combined</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="center">
        3</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="center">
        </p>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        &nbsp;</p>

        <p align="justify">Income Tax for such periods, as determined by BioPharma in good faith
        and in the ordinary course of business, subject to final determination of such amount as
        provided in Section 2.5(a).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Biotechnologies&rsquo; Responsibility</u>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnologies shall be responsible for, and indemnify
        and hold harmless the BioPharma Group from (i) all Income Tax of the Biotechnologies Group
        with respect to a Post-Distribution Period; (ii) Income Taxes described in Section 2.2(b);
        (iii) all Other Biotechnologies Tax (regardless of which period it relates to); and (iv)
        any act for which Biotechnologies is liable under Section 3.2.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that any jurisdiction determines that the
        income of any member of the Biotechnologies Group is included or includible with the income
        of any member of the BioPharma Group for purposes of calculating the combined,
        consolidated, or unitary Tax liability of the BioPharma Group and, as of the date hereof,
        the income of such member of the Biotechnologies Group was not so included by any member of
        the BioPharma Group in a combined, consolidated, or unitary group of which such member of
        the BioPharma Group was the common parent, Biotechnologies shall be responsible for and
        shall pay to BioPharma any Income Tax liability incurred by any member of the BioPharma
        Group as a result of such determination.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>General Responsibilities</u>. For purposes of this
        Agreement, in the case of any taxable period that begins before and ends after the
        Distribution Date, the amount of Biotechnologies Federal Income Tax and/or Biotechnologies
        Combined Income Tax payable for such taxable period shall be allocated pro rata between the
        time period before the Distribution Date and the time period after the Distribution Date,
        as of each such time period.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Refunds and Tax Benefits</u>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Refunds and Carry backs.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="justify">
        (i) Except as provided in (ii) or (iii) below, BioPharma shall be entitled to any refunds
        of Biotechnologies Federal Income Tax and Biotechnologies Combined Income Tax (including
        refunds paid by means of a credit against other or future Tax liabilities) arising with
        respect to taxable periods ending on or before the Distribution Date; and Biotechnologies
        shall be entitled to any refunds of Income Tax of the Biotechnologies Group (including
        refunds paid by means of a credit against other or future Tax liabilities) arising with
        respect to taxable periods beginning after the Distribution Date. BioPharma and
        Biotechnologies agree to allocate such refunds (including refunds paid by means of a credit
        against other or future Tax liabilities) arising with respect to taxable periods that begin
        before and end after the Distribution Date to whichever of BioPharma or Biotechnologies
        initially accrued or recorded a liability for the Taxes to which such refund is
        attributable.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="justify">
        (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnologies shall be entitled to any refunds or
        credits of Biotechnologies State Income Tax or Other Biotechnologies Tax (including refunds
        paid by means of a credit against other or future Tax liabilities).</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="center">
        4</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="center">
        </p>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="justify">
        (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnologies shall promptly forward to BioPharma or
        reimburse BioPharma for any refunds due BioPharma after receipt thereof, and BioPharma
        shall promptly forward to Biotechnologies or reimburse Biotechnologies for any refunds due
        Biotechnologies after receipt thereof. In the case of a refund received in the form of a
        credit against other or future Tax liabilities, reimbursement in respect of such refund
        shall be due in each case on the due date for payment of the Tax against which such refund
        has been credited. If BioPharma reasonably so requests, Biotechnologies, at
        BioPharma&rsquo;s expense, shall file for and pursue any refund to which BioPharma is
        entitled under this Section 2.4(a). If Biotechnologies reasonably so requests, BioPharma,
        at Biotechnologies&rsquo;s expense, shall file for and pursue any refund to which
        Biotechnologies is entitled to under this Section 2.4(a).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="justify">
        (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioPharma agrees that if the Biotechnologies Group
        carries back any item of loss, deduction or credit which arises in any taxable period the
        Income Tax for which Biotechnologies is responsible, into any taxable period the Income Tax
        for which BioPharma was responsible, then Biotechnologies shall be entitled to any Tax
        Benefit or refund of Tax realized as a result of the carry back.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 90px" align="justify">
        (v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Section
        2.4, BioPharma shall not be entitled to, and Biotechnologies shall be entitled to, any
        refunds or credits with respect to Income Tax for which Biotechnologies was liable under
        Section 2.2(b).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocation of Benefits. If as a result of or in settlement
        of any Tax Contest, any adjustments shall be made to any Tax Returns relating to Income Tax
        of the Biotechnologies Group or the BioPharma Group for any period in which one of the
        parties was responsible for all or a portion of such Income Tax, and if such adjustment
        results in both Tax Detriment to one party or its subsidiaries and Tax Benefit to the other
        party or its subsidiaries, then the party receiving the Tax Benefit shall pay to the party
        subject to the Tax Detriment the amount of such Tax Benefit at such time or times as and to
        the extent that the party receiving the Tax Benefit realizes such benefit through a refund
        of Tax or reduction in the amount of Tax which would otherwise be paid if such adjustment
        had not been made.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Preparation of Tax Returns; Payment of Tax</u>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioPharma shall cause the Biotechnologies Group to join,
        for any Pre-Distribution Period for which the Biotechnologies Group is required to do so
        (and may cause the Biotechnologies Group (or any member thereof) to join for any such
        period or Tax Return for which the Biotechnologies Group is eligible but not required to do
        so), in all federal, state or local consolidated, combined or unitary Income Tax Returns of
        BioPharma&rsquo;s filing group. BioPharma shall prepare and timely file all such federal,
        state or local consolidated, combined or unitary Tax Returns and shall timely pay subject
        to 7.1(b) and (c) all Tax with respect to such Tax Returns. BioPharma shall provide to
        Biotechnologies a copy of the portion of each such Tax Return and any supporting schedules
        that relate to the Biotechnologies Group within 20 days after the filing thereof. No later
        than December 31 (or as close as reasonably practicable thereto) of the year in which
        BioPharma&rsquo;s federal Income Tax Return with respect to such Tax is filed, BioPharma
        shall provide to Biotechnologies a statement of the Biotechnologies Federal Income</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="center">
        5</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="center">
        </p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
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        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        &nbsp;</p>

        <p align="justify">Tax and Biotechnologies Combined Income Tax for such period, as
        determined by BioPharma in good faith and in the ordinary course of business based upon
        such Tax Returns. If (x) the sum of the estimates of such Biotechnologies Federal Income
        Tax and Biotechnologies Combined Income Tax as paid by Biotechnologies pursuant to Section
        2.1(b) and (c) above is less than (y) the sum of the Biotechnologies Federal Income Tax and
        Biotechnologies Combined Income Tax as determined under this Section 2.5(a),
        Biotechnologies shall pay to BioPharma the difference between (x) and (y). If (x) the sum
        of the estimates of such Biotechnologies Federal Income Tax and Biotechnologies Combined
        Income Tax as paid by Biotechnologies pursuant to Section 2.1(b) and (c) above is more than
        (y) the sum of the Biotechnologies Federal Income Tax and Biotechnologies Combined Income
        Tax as determined under this Section 2.5(a), BioPharma shall pay to Biotechnologies the
        difference between (x) and (y).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioPharma shall prepare (or cause to be prepared), at
        Biotechnologies&rsquo;s expense (or where appropriate through the utilization of
        Biotechnologies&rsquo;s staff), and Biotechnologies shall timely file (or cause to be
        timely filed) any Tax Return relating to Biotechnologies State Income Tax for any period
        that begins before the Distribution Date (or any portion of such a Tax Return which relates
        to the Pre-Distribution Period) whether it is required to be filed before or after the
        Distribution Date. BioPharma shall provide a copy of each such Tax Return (or portion
        thereof) and any supporting schedules to Biotechnologies at least 30 days before the date
        such Return is to be filed (including any extensions) by Biotechnologies for
        Biotechnologies&rsquo;s review and approval, which approval shall not be unreasonably
        withheld. Biotechnologies shall pay all Tax with respect to such Tax Return for which it is
        responsible pursuant to Section 2.1. BioPharma shall pay to Biotechnologies at least 5 days
        prior to the filing of such Tax Return any amount due on such Tax Return that is the
        responsibility of BioPharma pursuant to Section 2.1.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnologies shall be responsible for the preparation
        and filing of Tax Returns relating to Other Biotechnologies Tax. Biotechnologies shall pay
        all Tax with respect to any such Tax Returns.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnologies shall not file (or allow the
        Biotechnologies Group to file) any amended Tax Returns with respect to the Biotechnologies
        Group for any Pre-Distribution Period without BioPharma&rsquo;s consent.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Cooperation and Exchange of Information</u>. BioPharma
        on the one hand, and Biotechnologies, on the other, will timely and competently provide
        each other with such cooperation and information as either of them reasonably may request
        of the other in (i) filing any Tax Return, (ii) determining a liability for Tax or a right
        to a refund of Tax or (iii) participating in or conducting any Tax Contest. Such
        cooperation and information shall include providing copies of relevant Tax Returns or
        portions thereof, together with accompanying schedules and related work papers and
        documents relating to rulings or other determinations by any Tax Authorities. Each party
        shall devote the personnel and resources necessary in order to carry out this Section 2.6
        and shall make its employees available on a mutually convenient basis to provide
        explanations of any documents or information provided hereunder. Except as provided below,
        each party shall carry out their responsibilities under this Section 2.6 without charge to
        the other. Notwithstanding the foregoing, Biotechnologies shall reimburse BioPharma</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        6</p>
        <br>
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        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p align="justify">for any out-of-pocket costs and expenses incurred with respect to
        matters concerning Biotechnologies State Income Tax for the Pre-Distribution Period. It is
        further understood that in order to reduce the cost to Biotechnologies in connection with
        Biotechnologies State Income Tax matters, to the extent appropriate, BioPharma shall
        utilize and Biotechnologies shall provide, members of Biotechnologies&rsquo;s staff.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Contests</u>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice</u>. Each of the parties shall provide prompt
        notice to the other party of any pending or threatened Tax Contest of which it becomes
        aware related to Tax for which it is indemnified by the other party hereunder. Such notice
        shall contain factual information (to the extent known) describing any asserted Tax
        liability in reasonable detail and shall be accompanied by copies of any notice and other
        documents received from any Tax Authority in respect of any such matters. If an indemnified
        party has knowledge of an asserted Tax liability with respect to a matter for which it is
        to be indemnified hereunder and such party fails to give the indemnifying party prompt
        notice of such asserted Tax liability, then if the indemnifying party is not precluded from
        contesting the asserted Tax liability in any forum, but such failure to give prompt notice
        results in a monetary detriment to the indemnifying party, then any amount which the
        indemnifying party is otherwise required to pay the indemnified party pursuant to this
        Agreement shall be reduced by the amount of such detriment.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Control of Tax Contests</u>. Each party shall have full
        responsibility and discretion in handling, settling or contesting any Tax Contest involving
        a Tax for which it is liable pursuant to Section 2 of this Agreement and shall pay any
        costs associated with such Tax Contest; provided, however, BioPharma shall have full
        responsibility and discretion in handling, settling or contesting any Tax Contest with
        respect to a consolidated, combined or unitary federal or state Income Tax of which
        BioPharma or a BioPharma Subsidiary is the common parent. In the event that BioPharma
        controls (pursuant to the proviso in the previous sentence) any Tax Contest which gives
        rise to a Biotechnologies indemnification obligation hereunder, BioPharma shall consult
        with Biotechnologies with respect to such Tax Contest (to the extent such Tax Contest
        relates to issues for which Biotechnologies is liable) and shall consider in good faith
        Biotechnologies&rsquo;s advice with respect thereto. Furthermore BioPharma may participate
        in any Tax Contest with respect to any Covered Transaction Tax (as hereinafter defined),
        and Biotechnologies shall consider in good faith BioPharma&rsquo;s advice with respect
        thereto, regardless of whether BioPharma has liability or indemnification obligations with
        respect to such Tax under this Agreement.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction Tax<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. Except as otherwise provided in Section
        3.2, BioPharma shall be responsible for and pay any and all Tax resulting from income or
        gain recognized by BioPharma as a result of the Distribution failing to qualify for or
        maintain tax-free treatment pursuant to Section 355 of the Code or other provisions of the
        Code or corresponding provisions of other applicable Tax laws, and any Tax resulting from
        any income or gain recognized by BioPharma or its Subsidiaries (including the
        Biotechnologies Group) under Treasury Regulations Sections 1.1502-</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        7</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        </p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
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        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        13 or 1.1502-19 (or any corresponding provisions of other applicable Tax laws) as a result
        of the Distribution (collectively &ldquo;<u>Covered Transaction Tax</u>&rdquo;).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Inconsistent Acts and Events</u>. Biotechnologies shall
        be liable for, and shall indemnify and hold harmless the BioPharma Group from and against
        any liability for, any Covered Transactions Tax (including without limitation reasonable
        attorney fees and other costs incurred in connection therewith) to the extent arising from
        (i) any breach by the Biotechnologies Group of the representations or covenants under
        Section 4 and (ii) any Section 355(e) Event (defined herein) with respect to
        Biotechnologies. A &ldquo;Section 355(e) Event&rdquo; with respect to Biotechnologies means
        any fact, circumstance, event or occurrence relating to the stock of Biotechnologies or
        assets of the Biotechnologies Group, that causes the Distribution to be a taxable event to
        BioPharma as the result of the application of Section 355(e) of the Code and the Treasury
        Regulations (i.e., the Distribution becomes taxable to BioPharma under Section 355(e) of
        the Code and, but for such fact, circumstance, event or occurrence, the Distribution would
        not have been a taxable event to BioPharma under Section 355(e) of the Code).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representations and Covenants<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations</u>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of Biotechnologies and BioPharma represent that, as
        of the date of this Agreement, it and its Subsidiaries knows of no fact or set of facts
        that would jeopardize the expected Tax treatment of the Distribution.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of Biotechnologies and BioPharma represent and
        warrant that neither it nor any of its Subsidiaries has any plan or intent to take any
        action which is inconsistent with the expected Tax treatment of the Distribution.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Covenants</u>.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnologies covenants and agrees that it will not take
        any action, and it will cause its Subsidiaries to refrain from taking any action, that
        violates Section 355(e) of the Code and the Treasury Regulations promulgated thereunder or
        which is otherwise inconsistent with the Tax-free treatment of the Distribution.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 54px" align="justify">
        (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent Tax Returns. Each of BioPharma and
        Biotechnologies covenants and agrees that it will not take, and it will cause its
        Subsidiaries to refrain from taking, any position on a Tax Return that is inconsistent with
        the treatment of the Distribution as tax-free pursuant to Section 355 of the Code.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous Provisions<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice</u>. Any payment, notice or communication
        required or permitted to be given under this Agreement shall be in writing (including
        facsimile) and mailed, faxed or delivered to the parties at the following addresses (or at
        such other address as one party may specify by notice to the other party):</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        8</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        </p>
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        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        if to BioPharma:<br>
        <br>
        Integrated BioPharma, Inc.<br>
        225 Long Avenue<br>
        Hillside, New Jersey 07205<br>
        Attn: President<br>
        &nbsp;<br>
        if to Biotechnologies:<br>
        &nbsp;<br>
        iBioPharma, Inc.<br>
        9 Innovation Way, Suite 100<br>
        Newark, Delaware 19711<br>
        Attn: President</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        Notification of a change of address shall be given by either party to the other as provided
        in this Section 5.1. All such notices and communications shall be effective (i) when
        received, if mailed or delivered, or (ii) when confirmed by fax answerback, if faxed.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. This Agreement shall be governed by
        the laws applicable to contracts entered into and to be performed within the Commonwealth
        of Delaware excluding its conflict laws.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        </p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Agreement and the
        Distribution Agreement embodies the entire understanding between the parties relating to
        its subject matter and supersedes and terminates all prior agreements and understandings
        among the parties with respect to such matters. No promises, covenants or representations
        of any kind, other than those expressly stated herein, have been made to induce any party
        to enter into this Agreement. This Agreement shall not be modified or terminated except by
        a writing duly signed by each of the parties hereto, and no waiver of any provisions of
        this Agreement shall be effective unless in a writing duly signed by the party sought to be
        bound. If, and to the extent, the provisions of this Agreement conflict with the
        Distribution Agreement, or any other agreement entered into in connection with the
        Distribution, the provisions of this Agreement shall control.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment; Binding Effect</u>. Neither this Agreement
        nor any of the rights, interests or obligations under this Agreement shall be assigned, in
        whole or in part, by operation of law or otherwise by any of the parties without the prior
        written consent of the other party; provided, however, that no such consent shall be
        required in the event of a merger, consolidation or sale of either BioPharma or
        Biotechnologies. Subject to the preceding sentence, this Agreement shall be binding on, and
        shall inure to the benefit of, and be enforceable by, the parties hereto and their
        respective successors and assigns.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement may be executed in two
        or more counterparts, each of which shall be deemed to be an original, but all of which
        together shall constitute one and the same.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        9</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="center">
        </p>
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        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision of this Agreement or
        the application of any such provision to any person or circumstances shall be held invalid,
        illegal, or unenforceable in any respect by a court of competent jurisdiction, such
        invalidity, illegality, or unenforceability shall not affect any other provision
        hereof.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. Headings of sections in this Agreement
        are inserted for convenience of reference only and are not intended to be a part of or to
        affect the meaning or interpretation of this Agreement.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Notwithstanding anything in this
        Agreement to the contrary, the provisions of this Agreement shall survive for thirty days
        after the full period of all applicable statutes of limitations (giving effect to any
        waiver, mitigation or extension thereof).</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Payments</u>. Unless a provision in this Agreement
        specifically provides a time period for payment, any payment owed under this Agreement
        shall be paid within 30 days after the date on which such payment becomes due.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        [SIGNATURE PAGE FOLLOWS]</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        10</p>
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        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">
        IN WITNESS WHEREOF, each of the parties has caused this Tax Responsibility Allocation
        Agreement to be executed by its respective duly authorized officer as of the date first set
        forth above.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        INTEGRATED BIOPHARMA, INC.<br>
        &nbsp;<br>
        By: <u>/s/ Dina L. Masi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        Name: Dina L. Masi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        Title: Chief Financial Officer</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        IBIOPHARMA, INC.<br>
        &nbsp;<br>
        By: <u>/s/ Robert L.
        Erwin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        Name: Robert L. Erwin</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify">
        Title: President</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        [Signature Page to the Tax Responsibility Allocation Agreement]</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        11</p>
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