Phase II Study Evaluating Exemestane Alone Or In Combination With Pazopanib In Postmenopausal Women With Hormone Receptor Positive Breast Cancer

Inclusion Criteria:

* Subjects must have measurable disease OR must be evaluable for disease progression
* Age \>/= 18 years.
* Postmenopausal women
* Eastern Cooperative Oncology Group (ECOG) performance status (PS) 0 or 1.
* Histologically or cytologically confirmed ER and/or PgR positive carcinoma of the breast with unresectable, locally advanced and/or metastatic disease
* Subjects must have received prior hormonal therapy for the treatment of breast cancer (anastrozole, letrozole, or tamoxifen)
* Adequate hematologic, hepatic, and renal function

Exclusion Criteria:

* Prior use of exemestane or pazopanib
* Premenopausal women
* Any ongoing toxicity from prior anti-cancer therapy that is \>Grade 1 and/or that is progressing in severity.
* Prior therapy with a VEGF inhibitor.
* Use of an investigational agent, including an investigational anti-cancer agent, within 28 days or 5 half-lives, whichever is longer, prior to the first dose of investigational product.
* Evidence of recurrence or active disease from prior malignancy.
* Clinically significant gastrointestinal abnormalities that may increase the risk for GI bleeding or affect the absorption of the investigational product(s).
* Presence of uncontrolled infection.
* History of any major cardiovascular conditions within the past 6 months:
* Poorly controlled hypertension
* History of cerebrovascular accident, pulmonary embolism or untreated deep venous thrombosis (DVT) within the past 6 months.
* Prior major surgery or trauma within 28 days prior to first dose of investigational product and/or presence of any non-healing wound, fracture, or ulcer
* Evidence of active bleeding or bleeding tendency.