Exhibit X
TO: NATIONAL BANK OF CANADA
Reference is made the Pledge Agreement dated July 30, 2004 made between P.P.
Luxco Holdings II S.A.R.L. (the "Pledgor") and National Bank of Canada (as
amended from time to time, the "Pledge").
The Pledgor confirms that the following securities have become subject to the
Pledge and that all provisions of the Pledge apply to such securities. For
greater certainty, the Pledgor hereby hypothecates and pledges such securities
and all property related thereto of the type described in Section 2.1 of the
Pledge, as security for the Obligations (as defined in Section 1.3 of the
Pledge), for an amount of Cdn $40,000,000 with interest from the date of the
Pledge at a rate of 20% per annum.
Description
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2,771,568 Neurochem common shares, certificate number 001690, CUSIP Number
64125K10l
1,546,800 Neurochem common shares, certificate number 001281, CUSIP Number
64125K10l
350,000 Neurochem common shares, certificate number 001285, CUSIP Number
64125K10l
Made as of this 21(st) day of April, 2005
/s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
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P.P. LUXCO HOLDINGS II S.A.R.L.
By: ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Capacity: special proxy