RESEARCH AGREEMENT between the CALIFORNIA INSTITUTE OF TECHNOLOGY, of Pasadena, California, U.S.A.,
hereinafter referred to as “Institute”, and Arrowhead Research Corporation, hereinafter referred to as “Sponsor”.
WHEREAS, the research program relating to the works of Dr. Harry Atwater, hereinafter referred to as “Investigator”, and
the Sponsor, and will further the instructional and research objectives of the Institute in a manner consistent with its status as a
nonprofit, tax-exempt, educational institution.
NOW, THEREFORE, the parties hereto agree as follows:
I. STATEMENT OF WORK. The Institute agrees to use its best effort to carry out the work defined in the Statement of
Work attached as Exhibit I.
2. PRINCIPAL INVESTIGATOR. The research will be supervised by Dr. Harry Atwater. If for any reason, he/she is unable
to continue to serve as Principal Investigator, and a successor acceptable to both the Institute and the Sponsor is not available,
this Agreement shall be terminated as provided in Article 11
3. PERIOD OF PERFORMANCE. The research shall be conducted during the period of 1/1/04 through 12/31/07. This
Agreement and the period of performance may be extended by mutual agreement of the parties.
4. REIMBURSEMENT OF COSTS. In consideration of the foregoing, the Sponsor will reimburse the Institute for all direct
and indirect costs incurred in the performance of the research which shall not exceed a total estimated project cost of $870,793,
without written authorization from the Sponsor. If the Agreement is extended, the dollar value of costs to be reimbursed may be
increased by mutual agreement to cover additional work performed during the extension.
5. PAYMENT. Payment shall be made as follows:
Full payment for the first year shall be made within thirty (30) days of execution of this Agreement. Subsequent annual
payments shall be made within thirty (30) days of the anniversary of the commencement dat