Joint Escrow Instructions (2005)Full Document 

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                         PURCHASE AND SALE AGREEMENT AND

                            JOINT ESCROW INSTRUCTIONS

                                 by and between

                                BIOGEN IDEC INC.,
                             a Delaware corporation

                                    "SELLER"

                                       and

                                GENENTECH, INC.,
                             a Delaware corporation

                                     "BUYER"
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                                TABLE OF CONTENTS

1.       Sale of the Property...............................................   2

2.       Purchase Price.....................................................   3

3.       Retention Amount...................................................   3

4.       Conditions to Parties' Obligations.................................   4

         4.1      Buyer's Pre-Closing Conditions............................   4

         4.2      Closing Conditions........................................   6

         4.3      Failure of Conditions.....................................   7

         4.4      Investigations; Indemnity.................................   8

         4.5      Transition Services Agreement.............................   9

5.       Remedies/Liquidated Damages........................................   9

         5.1      Buyer's Default...........................................   9

         5.2      Seller's Default..........................................  10

6.       Closing and Escrow.................................................  11

         6.1      Escrow Instructions.......................................  11

         6.2      Date of Closing...........................................  11

         6.3      Conveyance................................................  11

         6.4      Closing Documents.........................................  11

7.       Employees..........................................................  12

         7.1      Hired Personnel...........................................  12

         7.2      Personnel Files...........................................  13

8.       ADT Allocation and Incentive Amendment.............................  13

9.       Seller's Maintenance of the Property...............................  13

10.      Casualty and Condemnation..........................................  14

11.      Limited Liability..................................................  15

12.      Release............................................................  15

13.      AS-IS Condition of Property........................................  18

14.      Prorations.........................................................  20

15.      Closing Costs......................................................  21

16.      Brokers............................................................  21

17.      Notices............................................................  21

18.      Drafting Ambiguities...............................................  22


                                      (i)
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19.      Assignment.........................................................  23

20.      Severability.......................................................  23

21.      California Law.....................................................  23

22.      Entire Agreement/Modifications/Survival............................  23

23.      Confidentiality....................................................  23

24.      Counterparts.......................................................  24

25.      Dispute Costs......................................................  24

26.      Seller's Representations...........................................  24

         26.1     Due Authorization.........................................  24

         26.2     Litigation................................................  24

         26.3     Condemnation..............................................  24

         26.4     Qualification/Validation Documents........................  24

         26.5     Foreign Person............................................  25

         26.6     Bankruptcy................................................  25

         26.7     Violation of Law..........................................  25

         26.8     No Other Sale Contracts...................................  25

         26.9     Agreement of Covenants....................................  25

         26.10    Documents and Materials...................................  25

27.      Buyer's Representations............................................  26

         27.1     Authorization.............................................  26

         27.2     Authority.................................................  26

         27.3     Bankruptcy................................................  26

         27.4     Inspections...............................................  26

28.      Time of the Essence; and Business Days.............................  26

29.      Agreement Date.....................................................  27

30.      No Third Party Beneficiaries.......................................  27

31.      Discharge of Seller's Bonds........................................  27

32.      Drafts not an Offer to Enter into a Legally Binding Contract.......  27

33.      Natural Hazard Disclosure Requirement Compliance...................  27

34.      Retention of Certain Materials.....................................  28

35.      Non-Solicitation of Employees......................................  28

36.      Purchase of TD Equipment...........................................  29


                                      (ii)
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EXHIBITS

EXHIBIT A         LEGAL DESCRIPTION OF THE REAL PROPERTY

EXHIBIT B-1       LIST OF PERSONAL PROPERTY

EXHIBIT B-2       LIST OF EXCLUDED PROPERTY

EXHIBIT C         ASSIGNMENT AND ASSUMPTION OF INTANGIBLES, INTELLECTUAL
                  PROPERTY AND ASSUMED CONTRACTS

EXHIBIT D         GRANT DEED

EXHIBIT E         BILL OF SALE

EXHIBIT F         ASSUMED CONTRACTS

EXHIBIT G-1       LIST OF HIRED PERSONNEL

EXHIBIT G-2       LIST OF SELLER RETAINED PERSONNEL

EXHIBIT G-3       LIST OF SELLER PERSONNEL WHO MAY BE CONTACTED BY BUYER

EXHIBIT H         PERSONNEL AGREEMENT

EXHIBIT I         ALLOCATION AGREEMENT

EXHIBIT J         QUALIFICATION AND VALIDATION DOCUMENTS

EXHIBIT K         LIST OF SELLER'S BONDS

SCHEDULE 3        REMAINING WORK

SCHEDULE 4.5      TRANSITION SERVICES


                                     (iii)
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            PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS

TO:   First American Title Insurance Company     Escrow No. NCS-164829-SD
      411 Ivy Street San Diego, CA  92101        Escrow Officer:  Lynn Graham
                                                 Title Order No. NCS-164829-SD
                                                 Title Officer:  Ralph M. Snyder

      THIS PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (the
"AGREEMENT") is made and entered into as of June 16, 2005 (the "AGREEMENT
DATE"), by and between BIOGEN IDEC INC., a Delaware corporation ("Seller"), and
GENENTECH, INC., a Delaware corporation ("BUYER"), with reference to the facts
set forth in the Recitals below:

                                R E C I T A L S :

      A. Seller is the owner of the approximately sixty (60) acre parcel of real
property located at 1 Antibody Way, Oceanside, California, as legally described
in Exhibit A attached hereto and made a part hereof (the "REAL PROPERTY"),
together with (i) all improvements, structures and other property which is
affixed to the Real Property so as to constitute fixtures under California law
(collectively, the "IMPROVEMENTS"), (ii) all goods, equipment (including all
plans, specifications, drawings, documents, manuals, maintenance and service
logs and the like relating to the operation, care, validation, maintenance and
repair thereof), materials, inventory, supplies and other personal property
owned by Seller and located on the Real Property on May 25, 2005, including,
without limitation, the items identified on Exhibit B-1 attached hereto and made
a part hereof (but expressly excluding the personal property identified on
Exhibit B-2 attached hereto and made a part hereof, which shall not constitute a
portion of the Personal Property and which shall be retained by Seller) and all
plans, specifications and drawings of the Improvements owned by Seller
(collectively, the "PERSONAL PROPERTY") (iii) all of Seller's right, title, and
interest, in and to any development rights, entitlements, permits, easements,
tenements, hereditaments, mineral rights, oil and gas rights, water, water
rights, air rights, and privileges appurtenant to the Real Property,
(collectively, the "APPURTENANCES"), (iv) all warranties, guarantees (including,
without limitation, all contractor, builder, subcontractor, manufacturer, and
vendor/supplier warranties and guarantees), indemnities, bonds, licenses,
permits, approvals, intangible rights and privileges and other intangible
property related exclusively to the Real Property, the Personal Property and/or
the Improvements and rights relating to the construction or design of the
Improvements and/or Personal Property (collectively, the "INTANGIBLES"),
provided that Intangibles shall not include any intellectual property
whatsoever, (v) a non-exclusive, royalty free (as between Buyer or any
successive owner of the Property and Seller) right as to those intellectual
property rights which are (a) inherent in and/or readily discoverable by Buyer
(or any successive owner of the Property) in the actual items of equipment
and/or systems (including any design or configuration of such equipment and/or
systems) constituting Personal Property or Improvements (as well as any software
installed or embedded thereon as of
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immediately prior to the Closing), (b) owned by or licensed to Seller as of
immediately prior to the Agreement Date, (c) transferable without the consent of
any third party, and (d) specifically required and necessary for Buyer (or any

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