Common use of Success Fee Clause in Contracts

Success Fee. If at any time while you are serving as Chief Medical Officer pursuant to that certain Employment Agreement dated on even date herewith (the “Employment Agreement”) (or during the six (6) month period after termination of your service as Chief Medical Officer if such service shall have been terminated without Cause (as defined in the Employment Agreement)) and prior to the Success Fee Expiration Date (defined below), a Covered Transaction (as defined in the Employment Agreement) that either (a) meets the Price Minimum (defined below) or (b) for which the Ambit board of directors (the “Board”) has waived the Price Minimum, shall have been consummated, you shall be eligible to receive, subject to the terms of this letter agreement, a payment (the “Success Fee”) in an amount equal to your Vested Equity Percentage Interest (defined below) multiplied by the Aggregate Gross Proceeds (defined below) actually paid or distributed pursuant to such Covered Transaction to Ambit’s stockholders and holders of options, warrants or other rights to Preferred Stock or Common Stock by reason of their ownership thereof and/or paid or distributed directly to Ambit. Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar-for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwise. In no event will the Success Fee be payable with respect to any Covered Transaction other than the first Covered Transaction that occurs following the date of this letter agreement.

Success Fee. If at any time while you are serving as Chief Medical Executive Officer pursuant to that certain Employment Agreement dated on even date herewith (the “Employment Agreement”) (or during the six (6) month period after termination of your service as Chief Medical Executive Officer if such service shall have been terminated without Cause (as defined in the Employment Agreement)) and prior to the Success Fee Expiration Date (defined below), a Covered Transaction (as defined in the Employment Agreement) that either (a) meets the Price Minimum (defined below) or (b) for which the Ambit board of directors (the “Board”) has waived the Price Minimum, shall have been consummated, you shall be eligible to receive, subject to the terms of this letter agreement, a payment (the “Success Fee”) in an amount equal to your Vested Equity Percentage Interest (defined below) multiplied by the Aggregate Gross Proceeds (defined below) actually paid or distributed pursuant to such Covered Transaction to Ambit’s stockholders and holders of options, warrants or other rights to Preferred Stock or Common Stock by reason of their ownership thereof and/or paid or distributed directly to Ambit. Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar-dollar- for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwise, including but not limited to any Bonus Option Substitute Benefits (as defined in the Employment Agreement), if applicable. In no event will the Success Fee be payable with respect to any Covered Transaction other than the first Covered Transaction that occurs following the date of this letter agreement.

Success Fee. If at any time while you are serving as Chief Medical Officer Chairman pursuant to that certain Employment this Agreement dated on even date herewith (the “Employment Agreement”) (or during the six (6) month period after termination of your service as Chief Medical Officer Chairman if such service shall have been terminated without Cause (as defined in the Employment Agreementbelow)) and prior to the Success Fee Expiration Date (defined below), a Covered Transaction (as defined in the Employment Agreement) that either (a) meets the Price Minimum (defined below) or (b) for which the Ambit board of directors (the “Board”) Board has waived the Price Minimum, shall have been consummated, you shall be eligible to receive, subject to the terms of this letter agreementAgreement, a payment (the “Success Fee”) in an amount equal to your Vested Equity Percentage Interest (defined below) multiplied by the Aggregate Gross Proceeds (defined below) actually paid or distributed pursuant to such Covered Transaction to Ambit’s stockholders and holders of options, warrants or other rights to Preferred Stock or Common Stock by reason of their ownership thereof and/or paid or distributed directly to Ambit. Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar-for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwise, including but not limited to any Bonus Option Substitute Benefits, if applicable. In no event will the Success Fee be payable with respect to any Covered Transaction other than the first Covered Transaction that occurs following the date of this letter agreementAgreement.

Success Fee. If at any time while you are serving as Chief Medical Officer a member of the Board pursuant to that certain Employment Agreement letter agreement dated on even date herewith (the “Employment Agreement”) June 17, 2009 (or during the six (6) month period after termination of your service as Chief Medical Officer a member of the Board if such service shall have been terminated without Cause (as defined in the Employment Agreementbelow)) and prior to the Success Fee Expiration Date (defined below), a Covered Transaction (as defined in the Employment Agreementbelow) that either (a) meets the Price Minimum (defined below) or (b) for which the Ambit board of directors (the “Board”) Board has waived the Price Minimum, shall have been consummated, you shall be eligible to receive, subject to the terms of this letter agreement, a payment (the “Success Fee”) in an amount equal to your Vested Equity Percentage Interest (defined below) multiplied by the Aggregate Gross Proceeds (defined below) actually paid or distributed pursuant to such Covered Transaction to Ambit’s stockholders and holders of options, warrants or other rights to Preferred Stock or Common Stock by reason of their ownership thereof and/or paid or distributed directly to Ambit. Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar-for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwise. In no event will the Success Fee be payable with respect to any Covered Transaction other than the first Covered Transaction that occurs following the date of this letter agreement.

Success Fee. If at any time while you are serving as Chief Medical Officer pursuant to that certain Employment Agreement dated on even date herewith (Upon redevelopment of the “Employment Agreement”) (or during Property in accordance with the six (6) month period after termination of your service as Chief Medical Officer if such service shall have been terminated without Cause (as defined in the Employment Agreement)) and prior to the Success Fee Expiration Date (defined below)Approved Redevelopment Plan, a Covered Transaction (as defined in the Employment Agreement) that either (a) meets the Price Minimum (defined below) or (b) for which the Ambit board of directors (the “Board”) has waived the Price Minimum, shall have been consummated, you Consultant shall be eligible entitled to receive, subject to the terms of this letter agreement, a payment success fee (the “Success Fee”) in an amount equal to your Vested Equity Percentage Interest 10% of the “value” of the Property in excess of the Cost Basis. For purposes hereof, Cost Basis shall be an amount equal to (defined belowx) the book value of the Property as of May 1, 2005 and (y) all costs incurred by the Company in connection with the implementation of the Approved Redevelopment Plan (including the Consulting Payments and the Expense Reimbursement), net of proceeds from land sales. The Success Fee shall be paid upon the sale of the Property, and in such event the “value” of the Property shall be the gross purchase price paid for Property (excluding land sales the proceeds of which reduced the cost of the redevelopment of the Property). In the event that the Property is not sold within one year following substantial completion of the Approved Redevelopment Plan, then the Success Fee shall be determined by an independent appraisal of the Property, and following such value determination, Consultant shall be paid the Success Fee. In the event that no Approved Redevelopment Plan is agreed upon by the Company during the term of this Agreement, or in the event that prior to the Company approving an Approved Redevelopment Plan the Company enters into a joint venture relationship with a third party regarding the redevelopment of the Property, then no Success Fee shall be due or payable to Consultant. In the event that an Approved Redevelopment Plan is agreed upon by the Company, but this Agreement is terminated by the Company prior to the sale of the Property or the one year anniversary of substantial completion of the Approved Redevelopment Plan, then Consultant shall be entitled to the payment of a partial Success Fee as follows. At the time this Agreement is terminated, an implied value of the Property shall be determined by taking the NOI of the Property upon substantial completion as projected in the Approved Redevelopment Plan (the “Completed NOI”), dividing the Completed NOI by the market cap rate at the time of termination (that being the cap rate that the Property would sell for at such time as if the Property were substantially complete in accordance with the Approved Redevelopment Plan) and taking the excess of such value over the Cost Basis (as projected by the Approved Redevelopment Plan) (the “Implied Success Fee Value”). The Implied Success Fee Value would then be multiplied by the Aggregate Gross Proceeds (defined below) actually paid or distributed pursuant to such Covered Transaction to Ambit’s stockholders and holders aggregate Milestone Percentages based on the occurrence of options, warrants or other rights to Preferred Stock or Common Stock by reason of their ownership thereof and/or paid or distributed directly to Ambit. Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar-for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwiseAgreed Upon Milestone Events that have occurred. In no event will the shall a Success Fee or an Implied Success Fee be payable with respect if the Company has not agreed upon an Approved Redevelopment Plan. The first $100,000 of the Success Fee or Implied Success Fee shall be paid in cash to any Covered Transaction other than Consultant, and the first Covered Transaction remainder of the Success Fee or Implied Success Fee shall be paid by the Company to scholarship funds designated by the Consultant. No Success Fee or Implied Success Fee shall be paid to the Consultant in the event that occurs following the date of Consultant terminates this letter agreementAgreement.