Common use of The Warrant Clause in Contracts

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBio, its designee or assigns (the "Holder") 80,000 shares (the "Warrant Shares") of the Company's Common Stock, $.0005 par value per share ("Common Stock"), at an exercise price of Six Dollars and Thirty-Nine Cents ($6.39) per share (the "Exercise Price") (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereof, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** (the "Milestone"), the Holder's right to exercise this Warrant Agreement will vest as follows: (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iii) if ****, none of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (iv) any Warrant Shares not vested by **** shall expire. (c) In the event that the Milestone fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBio, its designee or assigns (the "Holder") 80,000 shares (the "Warrant Shares") of the Company's Common Stock, $.0005 par value per share ("Common Stock"), at an exercise price of Six Dollars and Thirty-Nine Cents ($6.39) per share (the "Exercise Price") (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereof, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** (the "Milestone"), the Holder's right to exercise this Warrant Agreement will vest as follows: (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent Seventy-Five (5075%) of the Warrant Shares shall vest; (iii) if ****, none Fifty Percent (50%) of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (iv) if ****, none of the Warrant Shares shall vest; and (v) any Warrant Shares not vested by **** shall expire. (c) In the event that the Milestone fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBio, its designee or assigns (the "Holder") 80,000 shares (the "Warrant Shares") of the Company's Common Stock, $.0005 par value per share ("Common Stock"), at an exercise price of Six Dollars and Thirty-Nine Cents ($6.39) per share (the "Exercise Price") (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereof, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** * * * (the "Milestone"), the Holder's right Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith determine an appropriate vesting schedule for the Warrant Shares, based on * * * * and having a vesting structure generally similar to exercise the Class B and Class C Warrant Agreements between the Company and PharmaBio. Upon the determination of such vesting schedule by the Joint Development Committee, the parties hereto promptly shall enter into an appropriate amendment to this Warrant Agreement will vest as follows: (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iii) if ****, none of the Warrant Shares shall vest; and ***reflecting such vesting schedule. * * * * Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (iv) any Warrant Shares not vested by **** shall expire. (c) In the event that the Milestone vesting schedule determined under Section 1(b) above fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, schedule and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBioNovaQuest, its designee or assigns (the "“Holder"”) 80,000 shares (the "“Warrant Shares"”) of the Company's ’s Common Stock, $.0005 0.0005 par value per share ("“Common Stock"”), at an exercise price of Six Dollars One Dollar and ThirtyNinety-Nine One Cents ($6.391.91) per share (the "“Exercise Price"”) (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereofRestatement Date, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (b) Upon **** (the "“Milestone"”), the Holder's ’s right to exercise this Warrant Agreement will vest as follows: (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iii) if ****, none of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission.and (iv) any Warrant Shares not vested by **** shall expire. (c) In the event that the Milestone fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBioNovaQuest, its designee or assigns (the "“Holder"”) 80,000 shares (the "“Warrant Shares"”) of the Company's ’s Common Stock, $.0005 0.0005 par value per share ("“Common Stock"”), at an exercise price of Six Dollars One Dollar and ThirtyNinety-Nine One Cents ($6.391.91) per share (the "“Exercise Price"”) (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereofRestatement Date, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** (the "“Milestone"”), the Holder's right to exercise this Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith determine an appropriate vesting schedule for the Warrant Agreement will vest as follows: (i) if Shares, based on ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iii) if ****, none of the Warrant Shares shall vest; and having a vesting structure generally **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (iv) any . similar to the Class B and Class C Warrant Shares not vested Agreements between the Company and PharmaBio. Upon the determination of such vesting schedule by **** the Joint Development Committee, the parties hereto promptly shall expireenter into an appropriate amendment to this Warrant Agreement reflecting such vesting schedule. (c) In the event that the Milestone vesting schedule determined under Section 1(b) above fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, schedule and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBio, its designee or assigns (the "“Holder"”) 80,000 shares (the "“Warrant Shares"”) of the Company's ’s Common Stock, $.0005 par value per share ("“Common Stock"”), at an exercise price of Six Dollars and Thirty-Nine Cents ($6.39) per share (the "“Exercise Price"”) (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereof, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** availability of a protocol for the existing Phase 2 clinical study of TP508 in diabetic foot ulcer healing (the "“Milestone"”), the Holder's right Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith determine an appropriate vesting schedule for the Warrant Shares, based on completion of patient enrollment for such clinical study and the timing thereof, and having a vesting structure generally similar to exercise the Class B and Class C Warrant Agreements between the Company and PharmaBio. Upon the determination of such vesting schedule by the Joint Development Committee, the parties hereto promptly shall enter into an appropriate amendment to this Warrant Agreement will vest as follows: (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iii) if ****, none of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (iv) any Warrant Shares not vested by **** shall expirereflecting such vesting schedule. (c) In the event that the Milestone vesting schedule determined under Section 1(b) above fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, schedule and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBioNovaQuest, its designee or assigns (the "“Holder"”) 80,000 shares (the "“Warrant Shares"”) of the Company's ’s Common Stock, $.0005 0.0005 par value per share ("“Common Stock"”), at an exercise price of Six Dollars One Dollar and ThirtyNinety-Nine One Cents ($6.391.91) per share (the "“Exercise Price"”) (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereofRestatement Date, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** *(the "“Milestone"”), the Holder's ’s right to exercise this Warrant Agreement will vest as follows:: **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent Seventy-Five (5075%) of the Warrant Shares shall vest; (iii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iv) if ****, none of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission.and (ivv) any Warrant Shares not vested by **** shall expire. (c) In the event that the Milestone fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBioNovaQuest, its designee or assigns (the "“Holder"”) 80,000 shares (the "“Warrant Shares"”) of the Company's ’s Common Stock, $.0005 0.0005 par value per share ("“Common Stock"”), at an exercise price of Six Dollars One Dollar and ThirtyNinety-Nine One Cents ($6.391.91) per share (the "“Exercise Price"”) (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereofRestatement Date, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** *(the "“Milestone"”), the Holder's ’s right to exercise this Warrant Agreement will vest as follows:: ****Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission. (i) if ****, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****, Fifty Percent Seventy-Five (5075%) of the Warrant Shares shall vest; (iii) if ****, Fifty Percent (50%) of the Warrant Shares shall vest; (iv) if ****, none of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission.and (ivv) any Warrant Shares not vested by **** shall expire. (c) In the event that the Milestone fails to be achieved, or fails to be achievable, by ****, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)

The Warrant. (a) The Company hereby agrees to issue and sell to PharmaBioNovaQuest, its designee or assigns (the "“Holder"”) 80,000 shares (the "“Warrant Shares"”) of the Company's ’s Common Stock, $.0005 0.0005 par value per share ("“Common Stock"”), at an exercise price of Six Dollars One Dollar and ThirtyNinety-Nine One Cents ($6.391.91) per share (the "“Exercise Price"”) (such Exercise Price was calculated as follows: the average of the closing prices of the shares of Common Stock for the 15 trading days prior to the date hereofRestatement Date, multiplied by 115%), upon the terms and conditions herein set forth, including the vesting schedule set forth in this Section 1. The Exercise Price and the number of Warrant Shares purchasable upon exercise of this Warrant Agreement are subject to adjustment from time to time as provided in Section 4 of this Warrant Agreement. (b) Upon **** completion of patient enrollment for the existing Phase 2b clinical study of the TP508 distal radius fracture study by or on behalf of the Company or its affiliates (the "“Milestone"”), the Holder's ’s right to exercise this Warrant Agreement will vest as follows: (i) if ****the Milestone is achieved by September 30, 2006, One Hundred Percent (100%) of the Warrant Shares shall vest; (ii) if ****the Milestone is achieved after September 30, 2006, but before December 31, 2006, Fifty Percent (50%) of the Warrant Shares shall vest; (iii) if ****the Milestone is not achieved by December 31, 2006, none of the Warrant Shares shall vest; and **** Text has been omitted pursuant to a confidentiality request. Omitted text has been filed with the Securities and Exchange Commission.and (iv) any Warrant Shares not vested by **** December 31, 2006 shall expire. (c) In the event that the Milestone fails to be achieved, or fails to be achievable, by ****September 30, 2006, or by another date specified in the vesting schedule set forth in Section 1(b) above, and such failure is not caused solely by Quintiles, then the Joint Development Committee (as defined in the Services Agreement) shall promptly and in good faith review the Milestone, the existing vesting schedule, and the events and circumstances that caused or resulted in such failure; and the Joint Development Committee shall determine a new vesting schedule that shall extend each date within the existing vesting schedule by the duration of the events or circumstances that caused or resulted in such failure, up to one year; provided that the vesting schedule shall be extended pursuant to this Section 1(c)