EX-10.2



 Exhibit 10.2 

Execution Version 
  

 
 



 
 JPMorgan Chase Bank, National Association 

London Branch 
 25 Bank Street 

Canary Wharf 
 London E14 5JP 

England 
  

			
	DATE:	  	August 19, 2014
		
	TO:	  	Aegerion Pharmaceuticals, Inc.
		  	101 Main Street, Suite 1850
		  	Cambridge, Massachusetts 02142
		
	FROM:	  	 JPMorgan Chase Bank, National Association,

London Branch

		
	SUBJECT:	  	Additional Convertible Bond Hedge Transaction

 The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the
above-referenced transaction entered into on the Trade Date specified below (the “Transaction”) between JPMorgan Chase Bank, National Association, London Branch (“Dealer”) and Aegerion Pharmaceuticals, Inc.
(“Counterparty”). This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 
  

 
 Each party agrees and acknowledges that
(i) J.P. Morgan Securities LLC, an affiliate of JPMorgan (“JPMS”), has acted solely as agent for Dealer and not as principal with respect to the Transaction and (ii) JPMS has no obligation or liability, by way of guaranty,
endorsement or otherwise, in any manner in respect of the Transaction (including, if applicable, in respect of the settlement thereof). Each party agrees it will look solely to the other party (or any guarantor in respect thereof) for performance of
such other party’s obligations under the Transaction. For the avoidance of doubt, any performance by Dealer of its obligations hereunder solely to JPMS shall not relieve Dealer of such obligations. Any performance by Counterparty of its
obligations (including notice obligations) through or by means of JPMS’ agency for Dealer shall constitute good performance of Counterparty’s obligations hereunder to Dealer. 

 
  

1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2000 ISDA Definitions (including the Annex
thereto) (the “2000 Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions” and, together with the 2000 Definitions, the
“Definitions”), in each case as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the 2000 Definitions and the Equity Definitions, the Equity
Definitions will govern. Certain defined terms used herein have the meanings assigned to them in the Indenture dated as of August 15, 2014 between Counterparty and The Bank of New York Mellon Trust Company, N.A. as trustee (subject to the
following paragraph, the “Indenture”) relating to the USD300,000,000 principal amount of 2.00% Convertible Senior Notes due 2019 and an additional USD25,000,000 principal amount of 2.00% Convertible Senior Notes due 2019 to be
issued pursuant to the Initial Purchasers’ option exercised on August 18, 2014 (the “Convertible Securities”). In the event of any inconsistency between the terms defined in the Indenture and this Confirmation, this
Confirmation shall govern. 
 The parties acknowledge that, subject to “Merger Events” below, (i) references to the Indenture
herein are references to the Indenture as in effect on the date of its execution, without giving effect to any amendment or supplement to the Indenture and (ii) if the Indenture is amended or supplemented following such execution date,
(x) the Calculation Agent shall determine the relevant Delivery Obligation and Settlement Date for any Option exercised thereafter in accordance with 

  
 JPMorgan Chase Bank,
National Association 
 Organised under the laws of the United States as a National Banking Association. 

Main Office 1111 Polaris Parkway, Columbus, Ohio 43240 

Registered as a branch in England & Wales branch No. BR000746 

Registered Branch Office 25 Bank Street, Canary Wharf, London E14 5JP 

Authorised by the Office of the Comptroller of the Currency in the jurisdiction of the USA. 

Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct 

Authority and to limited regulation by the Prudential Regulation Authority. Details about the 

extent of our regulation by the Prudential Regulation Authority are available from us on request. 








 
this Confirmation by referring to the relevant provisions of the Indenture without giving effect to such amendment or supplement and (y) such amendment or supplement shall be disregarded for
all other purposes hereunder (other than for purposes of Section 9(c) below), unless the parties agree otherwise in writing. Terms in quotation marks that are not otherwise defined in this Confirmation shall have the meanings set forth in the
Indenture, unless the context otherwise requires. 
 This Confirmation evidences a complete and binding agreement between Dealer and
Counterparty as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of the ISDA 2002 Master Agreement as if Dealer and Counterparty had
executed an agreement in such form (without any Schedule except for (i) the election of US Dollars (“USD”) as the Termination Currency and (ii) the election that the “Cross Default” provisions of
Section 5(a)(vi) shall apply to Counterparty with a “Threshold Amount” of USD15,000,000. For the avoidance of doubt, the Transaction shall be the only transaction under the Agreement. The parties acknowledge that the Transaction to
which this Confirmation relates is not governed by, and shall not be treated as a transaction under, any other ISDA Master Agreement entered into between the parties from time to time. 

All provisions contained in, or incorporated by reference to, the Agreement will govern this Confirmation except as expressly modified herein.
In the event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern, and in the event of any inconsistency between either the Definitions or this Confirmation and the Agreement, the
Definitions or this Confirmation, as the case may be, shall govern. For the avoidance of doubt, except to the extent of an express conflict, the application of any provision of this Confirmation, the Agreement or the Equity Definitions shall not be
construed to exclude or limit the application of any other provision of this Confirmation, the Agreement or the Equity Definitions. 
 2.
The Transaction constitutes a Share Option Transaction for purposes of the Equity Definitions. The terms of the particular Transaction to which this Confirmation relates are as follows: 

 

					
	General Terms:	  		  	
		
	Trade Date:	  	August 19, 2014
		
	Effective Date:	  	The closing date for the Convertible Securities issued pursuant to the over-allotment option to the extent exercised on August 18, 2014.
		
	Option Type:	  	Call
		
	Seller:	  	Dealer
		
	Buyer:	  	Counterparty
		
	Shares:	  	The common stock of Counterparty, par value USD0.001 per share (Ticker Symbol: “AEGR”)
		
	Number of Options:	  	25,000. For the avoidance of doubt, the Number of Options shall be reduced by any Options exercised hereunder.
		
	Number of Shares:	  	As of any date, the product of the Number of Options, the Applicable Percentage and the Conversion Rate
		
	Applicable Percentage:	  	40%
		
	Conversion Rate:	  	24.2866. For the avoidance of doubt, the Conversion Rate shall be subject to adjustment from time to time, as described under “Method of Adjustment” below.


  
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	Premium:	  	USD2,666,000
		
	Premium Payment Date:	  	The Effective Date
		
	Exchange:	  	The NASDAQ Global Select Market
		
	Related Exchanges:	  	All Exchanges
			
	Procedure for Exercise:	  		  	
		
	Exercise Dates:	  	Each Conversion Date, other than a Conversion Date relating to an Excluded Conversion (as defined below).
		
	Conversion Date:	  	Each “Conversion Date” occurring during the period from and excluding the Trade Date to and including the Expiration Date, for Convertible Securities, each in denominations of USD1,000 principal amount, that
are submitted for conversion on such Conversion Date in accordance with the terms of the Indenture but are not “Relevant Convertible Securities” under, and as defined in, the confirmation between the parties hereto regarding the Base
Convertible Bond Hedge Transaction dated August 11, 2014) (the “Base Convertible Bond Hedge Transaction Confirmation”) (such Convertible Securities, the “Relevant Convertible Securities” for such Conversion Date).
For the purposes of determining whether any Convertible Securities will be Relevant Convertible Securities hereunder or under the Base Convertible Bond Hedge Transaction Confirmation, Convertible Securities that are converted pursuant to the
Indenture shall be allocated first to the Base Convertible Bond Hedge Transaction Confirmation until all Options thereunder are exercised or terminated.
		
	Required Exercise on Conversion Dates:	  	On each Conversion Date, a number of Options equal to the lesser of (i) the number of Relevant Convertible Securities for such Conversion Date in denominations of USD1,000 principal amount and (ii) the Number
of Options on such date shall be automatically exercised; provided that if, for any conversion of Relevant Convertible Securities, any “Additional Shares” would be added to the applicable “Conversion Rate” pursuant to
Section 4.04 of the Indenture, no Options shall be exercised hereunder on account of the relevant Conversion Date (any such conversion, an “Excluded Conversion”) and the consequences of such conversion shall be as provided in
Section 9(c) of this Confirmation.
		
	Expiration Date:	  	The second Scheduled Trading Day immediately preceding the Maturity Date.
		
	Maturity Date:	  	August 15, 2019.
		
	Automatic Exercise:	  	As provided under “Required Exercise on Conversion Dates”.
		
	Exercise Notice Deadline:	  	In respect of any exercise of Options hereunder on any Conversion Date (x) prior to the Free Convertibility Period (as defined below), the


  
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		  	Exchange Business Day immediately following such Conversion Date or (y) during the Free Convertibility Period, the second Scheduled Trading Day immediately preceding the Maturity Date.
		
	Notice of Exercise:	  	Notwithstanding anything to the contrary herein or in the Equity Definitions, Dealer shall have no obligation to make any payment or delivery in respect of any exercise of Options hereunder unless Counterparty notifies
Dealer in writing prior to 4:00 PM, New York City time, on the Exercise Notice Deadline in respect of such exercise of (i) the number of Options being exercised on the relevant Exercise Date, (ii) the scheduled settlement date under the Indenture
for the Convertible Securities converted on the Conversion Date corresponding to such Exercise Date, (iii) whether such Relevant Convertible Securities will be settled by Counterparty by delivery of cash, Shares or a combination of cash and Shares
and, if such a combination, the “Specified Dollar Amount” and (iv) the first Scheduled Trading Day of the Observation Period; provided that in the case of any exercise of Options hereunder in connection with the conversion of any
Relevant Convertible Securities on any Conversion Date occurring during the Free Convertibility Period, the contents of such notice shall be as set forth in clause (i) above. Counterparty acknowledges its responsibilities under applicable securities
laws, and in particular Section 9 and Section 10(b) of the Exchange Act (as defined below) and the rules and regulations thereunder, in respect of any election of a settlement method with respect to the Convertible Securities. For the avoidance of
doubt, if Counterparty fails to give such notice when due in respect of any exercise of Options hereunder, Dealer’s obligation to make any payment or delivery in respect of such exercise shall be permanently extinguished, and late notice shall
not cure such failure; provided that notwithstanding the foregoing, in the case of an exercise of Options hereunder in respect of a conversion of Relevant Convertible Securities prior to the Free Convertibility Period, such notice (and the
related exercise of Options) shall be effective if given after the Exercise Notice Deadline, but prior to 4:00 PM New York City time, on the fifth Exchange Business Day following the Exercise Notice Deadline, in which event the Calculation Agent
shall have the right to adjust the Delivery Obligation as appropriate to reflect the additional costs (including, but not limited to, hedging mismatches and market losses) and expenses incurred by Dealer in connection with its commercially
reasonable hedging activities (including the unwinding of any commercially reasonable hedge position) as a result of Dealer not having received such notice on or prior to the Exercise Notice Deadline.
		
	 Notice of Convertible Security
 Settlement
Method:
	  	Counterparty shall notify Dealer in writing no later than February 15, 2019 of the settlement method and, if applicable, the “Specified Dollar Amount” applicable to Relevant Convertible Securities with a
Conversion Date occurring on or after such date and ending on and including the second Scheduled Trading Day immediately preceding the Maturity Date (the “Free Convertibility Period”).
		
	Deemed Settlement Method:	  	Notwithstanding anything to the contrary herein, if, with respect to any Relevant Convertible Securities, (a) Counterparty fails to timely notify Dealer hereunder of the applicable settlement method or the
applicable


  
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		  	“Specified Dollar Amount” (if any) or (b) Counterparty has timely notified Dealer hereunder that (i) “Physical Settlement” or “Combination Settlement” with a “Specified Dollar
Amount” of less than USD1,000 applies thereto, then, for purposes of this Transaction, “Combination Settlement” with a “Specified Dollar Amount” of USD1,000 shall be deemed to apply thereto.
			
	Settlement Terms:	  		  	
		
	Settlement Date:	  	The date one Settlement Cycle following the final day of the relevant Observation Period; provided that Dealer shall not be required to settle prior to the Exchange Business Day immediately following the date
Counterparty provides the Notice of Delivery Obligation prior to 4:00 PM, New York City time.
		
	Delivery Obligation:	  	In lieu of the obligations set forth in Sections 8.1 and 9.1 of the Equity Definitions, and subject to “Notice of Exercise” above, in respect of any Option exercised on any Exercise Date occurring on a
Conversion Date, Dealer will pay or deliver, as the case may be, to Counterparty, on the related Settlement Date, a number of Shares and/or amount of cash (the “Delivery Obligation”) in USD equal to the product of (i) the Applicable
Percentage and (ii) the number of Shares, if any, and the amount of cash, if any, in excess of USD1,000 included in the applicable Settlement Amount, as determined by the Calculation Agent; provided that Dealer will pay cash in lieu of any
fractional Shares that would otherwise be deliverable by Dealer hereunder, calculated on an aggregate basis in respect of all Options exercised on any Exercise Date; and provided further that if the sum of (x) the number of Shares (if
any) included in the Delivery Obligation multiplied by the Settlement Date Price and (y) the amount of cash (if any) included in the Delivery Obligation would otherwise exceed the product of (i) the Applicable Percentage and (ii)
(A) the sum of (x) the number of Shares (if any) included in the Convertible Obligation multiplied by the Settlement Date Price and (y) the amount of cash (if any) included in the Convertible Obligation less (B) USD
1,000, then the number of Shares and/or amount of cash included in the Delivery Obligation shall be proportionately reduced to the extent necessary to eliminate such excess.
		
	Settlement Date Price:	  	With respect to any Option, the opening price as displayed under the heading “Op” on Bloomberg page AEGR <equity> (or any successor thereto) on the applicable Settlement Date.
		
	Settlement Amount:	  	With respect to any Option exercised on any Exercise Date occurring on a Conversion Date, (i) if Counterparty has timely notified Dealer hereunder that “Cash Settlement” applies to the Relevant Convertible
Securities converted on such Conversion Date, cash in an amount equal to the sum of the Daily Conversion Values for each of the 40 Trading Days during the related Observation Period, or (ii) if “Combination Settlement” applies (or is
deemed hereunder to apply) to the Relevant Convertible Securities converted on such Conversion Date, the sum of the Daily Settlement Amounts for each of the 40 consecutive Trading Days during the applicable Observation Period.


  
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	Daily Settlement Amount:	  	For each of the 40 consecutive Trading Days during the relevant Observation Period, the “Daily Settlement Amount” shall consist of: (a) cash in an amount equal to the lesser of (i) the Daily
Measurement Value and (ii) the Daily Conversion Value, and (b) if the Daily Conversion Value exceeds the Daily Measurement Value, a number of Shares equal to (i) the difference between the Daily Conversion Value and the Daily Measurement
Value, divided by (ii) the Daily VWAP for such Trading Day.
		
	Daily Conversion Value:	  	For each of the 40 consecutive Trading Days during the Observation Period, 2.5% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.
		
	Daily Measurement Value:	  	With respect to any Relevant Convertible Securities, the “Specified Dollar Amount” that applies (or is deemed hereunder to apply) thereto, divided by 40.
		
	Daily VWAP:	  	For each of the 40 consecutive Trading Days during the applicable Observation Period, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “AEGR
<equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such
volume-weighted average price is unavailable, the market value of one Share on such Trading Day determined, using, if practicable, a volume-weighted average method, by the Calculation Agent). The “Daily VWAP” shall be determined
without regard to after hours trading or any other trading outside of the regular trading session trading hours.
		
	Observation Period:	  	With respect to any Relevant Convertible Security,
			
		  	(i)	  	if the relevant Conversion Date occurs prior to the Free Convertibility Period, the 40 consecutive Trading Day period beginning on, and including, the second Trading Day immediately succeeding such Conversion Date; and
			
		  	(ii)	  	if the relevant Conversion Date occurs during the Free Convertibility Period, the 40 consecutive Trading Days beginning on, and including, the 42nd Scheduled Trading Day immediately preceding the Maturity Date.
		
	Trading Day:	  	A day on which (x) there is no Market Disruption Event and (y) trading in the Shares generally occurs on The NASDAQ Global Select Market or, if the Shares are not then listed on The NASDAQ Global Select Market, on the
principal other U.S. national or regional securities exchange on which the Shares are then listed or, if the Shares are not then listed on a U.S. national or regional securities exchange, on the principal other market on which the Shares are then
listed or admitted for trading, except that if the Shares are not so listed or admitted for trading, “Trading Day” means a Business Day; provided that, for purposes of Annex A hereto, “Trading Day” shall have
the meaning specified therein.


  
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	Scheduled Trading Day:	  	Notwithstanding anything to the contrary in the Equity Definitions, “Scheduled Trading Day” means a day that is scheduled to be a Trading Day on the principal U.S. national or regional securities
exchange or market on which the Shares are listed or admitted for trading; provided that if the Shares are not so listed or admitted for trading, “Scheduled Trading Day” means a Business Day.
		
	Business Day:	  	Each day that is not a Legal Holiday.
		
	Legal Holiday:	  	A Saturday, Sunday or a day on which state or federally chartered banking institutions in New York, New York are not required to be open.
		
	Market Disruption Event:	  	Notwithstanding anything to the contrary in the Equity Definitions, “Market Disruption Event” means (a) a failure by the primary U.S. national or regional securities exchange or market on which the
Shares are listed or admitted for trading to open for trading during its regular trading session or (b) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Shares for more than one half-hour
period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Shares or in any options
contracts or future contracts relating to the Shares.
		
	Notice of Delivery Obligation:	  	No later than the Exchange Business Day immediately following the last day of the relevant Observation Period, Counterparty shall give Dealer notice of the Convertible Obligation; provided that, with respect to
any Exercise Date occurring during the Free Convertibility Period, Counterparty may provide Dealer with a single notice with respect to all Relevant Convertible Securities with a Conversion Date occurring during such period (it being understood, for
the avoidance of doubt, that the requirement of Counterparty to deliver such notice shall not limit Counterparty’s obligations with respect to Notice of Exercise or Notice of Convertible Security Settlement Method or Dealer’s obligations
with respect to Delivery Obligation, each as set forth above, in any way).
		
	Convertible Obligation:	  	With respect to any Conversion Date, the number of Shares and/or amount of cash determined pursuant to the relevant provisions of the Indenture that Counterparty is required to deliver, per USD 1,000 of converted
principal amount, to the holders of the Relevant Convertible Securities converted on such Conversion Date.
		
	Other Applicable Provisions:	  	To the extent Dealer is obligated to deliver Shares hereunder, the provisions of Sections 9.1(c), 9.8, 9.9, 9.11 (except that the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be
modified by excluding any representations therein relating to restrictions, obligations, limitations or requirements under applicable securities laws arising as a result of the fact that Counterparty is the Issuer of the Shares) and 9.12 of the
Equity Definitions will be applicable as if “Physical Settlement” applied to the Transaction.


  
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	Restricted Certificated Shares:	  	Notwithstanding anything to the contrary in the Equity Definitions, Dealer may, in whole or in part, deliver Shares required to be delivered to Counterparty hereunder in certificated form in lieu of delivery through the
Clearance System. With respect to such certificated Shares, the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be modified by deleting the remainder of the provision after the word “encumbrance” in
the fourth line thereof.
			
	Share Adjustments:	  		  	
		
	Method of Adjustment:	  	 Notwithstanding Section 11.2 of the Equity Definitions, upon the occurrence of any event or condition set forth in Sections
4.05(a), 4.05(b), 4.05(c), 4.05(d), 4.05(e), 4.06 and 4.09 of the Indenture (an “Adjustment Event”) that results in an adjustment under the Indenture (other than pursuant to Section 4.04 or 4.05(h) of the Indenture (the
“Excluded Adjustment Provisions”)), the Calculation Agent shall make an adjustment to the terms relevant to the exercise, settlement or payment of the Transaction determined by reference to the relevant provisions of the Indenture.
Immediately upon the occurrence of any Adjustment Event, Counterparty shall notify the Calculation Agent of such Adjustment Event; and once the adjustments to be made to the terms of the Indenture and the Convertible Securities in respect of such
Adjustment Event have been determined, Counterparty shall immediately notify the Calculation Agent in writing of the details of such adjustments.
  

Notwithstanding anything to the contrary herein, if Counterparty or its board of directors is permitted or required to exercise discretion under the terms of
the Indenture with respect to any determination, calculation or adjustment (including, without limitation, any adjustment under Section 4.06 of the Indenture or any determination of the fair market value of distributed property, the volume weighted
average price of Shares or the value of a “unit of Reference Property”) (any such determination, calculation or adjustment, a “Counterparty Determination”), if the Calculation Agent disagrees in good faith with such
determination, calculation or adjustment, the Calculation Agent shall make the relevant determination, calculation or adjustment for purposes of the Transaction and, for the avoidance of doubt, shall determine any Delivery Obligation and Settlement
Date thereafter as if the Calculation Agent’s determination, calculation or adjustment was applicable under the Indenture. Furthermore, notwithstanding anything to the contrary herein, if any Adjustment Event occurs during the relevant
“Observation Period” but no adjustment was made to any Convertible Security under the Indenture because the relevant holder was deemed to be a record owner of the underlying Shares on the related Conversion Date, then the Calculation Agent
shall make an adjustment, as determined by it, to the terms hereof in order to account for such Adjustment Event.
  

For the avoidance of doubt, Dealer shall not have any delivery obligation hereunder in respect of any “Distributed Property” delivered by
Counterparty pursuant to the fourth sentence of Section 4.05(c) of



  
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		  	 the Indenture or any payment obligation in respect of any cash paid by Counterparty pursuant to the fourth sentence of Section
4.05(d) of the Indenture or any other distribution of property or participation of holders of the Convertible Securities in any transaction or event in lieu of an adjustment to the terms of the Convertible Securities pursuant to any other provision
of the Indenture (collectively, the “Conversion Rate Adjustment Fallback Provisions”), and no adjustment shall be made to the terms of the Transaction on account of any event or condition described in the Conversion Rate Adjustment
Fallback Provisions.
  
 For the avoidance of doubt, whenever the Calculation Agent or
Determining Party (as the case may be) is called upon to make an adjustment pursuant to the terms of this Confirmation or the Equity Definitions (other than any adjustment required to be made by reference to the terms of the Convertible Notes or the
Indenture) to take into account the effect of an event, the Calculation Agent or Determining Party (as the case may be) shall make such adjustment by reference to the effect of such event on the Hedging Party, assuming that the Hedging Party
maintains a commercially reasonable hedge position.

			
	Extraordinary Events:	  		  	
		
	Merger Events:	  	Notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in Section 4.07(a) of the Indenture.
		
	Notice of Merger Consideration:	  	Upon the occurrence of a Merger Event that causes the Shares to be converted into the right to receive more than a single type of consideration (determined based in part upon any form of stockholder election),
Counterparty shall reasonably promptly (but, in any event prior to the relevant merger date) notify the Calculation Agent of (i) the weighted average of the types and amounts of consideration received by the holders of Shares entitled to receive
cash, securities or other property or assets with respect to or in exchange for such Shares in any Merger Event who affirmatively make such an election, or, if no holders of Shares affirmatively make such an election, the types and amounts of
consideration actually received by holders of the Shares and (ii) the details of the adjustment made under the Indenture in respect of such Merger Event.
		
	Consequences of Merger Events:	  	Notwithstanding Sections 12.2 and 12.3 of the Equity Definitions, upon the occurrence of a Merger Event that is required, under the terms of the Indenture (as determined by Calculation Agent by reference to Section 4.07
of the Indenture), to result in an adjustment to the terms of the Convertible Securities, the Calculation Agent shall make an adjustment to the terms relevant to the exercise, settlement or payment of the Transaction determined by reference to the
relevant provisions of the Indenture, subject to the provision under “Method of Adjustment” above relating to Counterparty Determinations; provided that such adjustment shall be made without regard to any adjustment to the
Conversion Rate pursuant to the Excluded Adjustment Provisions; and provided further


  
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		  	that if, with respect to a Merger Event, the consideration for the Shares includes (or, at the option of a holder of Shares, may include) shares of an entity or person that is not a corporation organized under the laws
of the United States, any State thereof or the District of Columbia, Cancellation and Payment (Calculation Agent Determination) may apply at Dealer’s sole discretion.
		
	Nationalization, Insolvency or Delisting:	  	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it shall also constitute a Delisting if the Exchange is
located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are
immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
			
	Additional Disruption Events:	  		  	
		
	Change in Law:	  	Applicable; provided that (A) Section 12.9(a)(ii) of the Equity Definitions is hereby amended (i) by inserting the parenthetical “(including, for the avoidance of doubt and without limitation, adoption,
effectiveness or promulgation of regulations authorized or mandated by existing statute)” at the end of clause (A) thereof, (ii) by the replacement of the word “Shares” with “Hedge Positions” in clause (X) thereof; (iii) by
adding the phrase “or announcement” immediately after the phrase “due to the promulgation” in the third line thereof and adding the phrase “formal or informal” before the word “interpretation” in the same line
and (iv) immediately following the word “Transaction” in clause (X) thereof, adding the phrase “in the manner contemplated by the Hedging Party on the Trade Date” and (B) Section 12.9(b)(i) of the Equity Definitions is hereby
amended by replacing “either party may elect” with “Dealer or, if Counterparty represents that it and its officers and directors are not aware of any material nonpublic information, Counterparty may elect”.
		
	Failure to Deliver:	  	Applicable
		
	Insolvency Filing:	  	Applicable
		
	Hedging Disruption:	  	Applicable; provided that:
			
		  	(i)	  	 Section 12.9(a)(v) of the Equity Definitions is hereby amended by (a) inserting the following words at the end of clause (A) thereof:
“in the manner contemplated by the Hedging Party on the Trade Date” and (b) inserting the following two phrases at the end of such Section:
  

“For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility
risk. And, for the further avoidance of doubt, any



  
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		  		  	such transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing terms.”; and
		
		  	(ii) Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”, the words “or a portion of the Transaction
affected by such Hedging Disruption”.
		
	Increased Cost of Hedging:	  	Applicable
		
	Hedging Party:	  	For all applicable Potential Adjustment Events and Extraordinary Events, Dealer; provided, however, that all calculations, adjustments, specifications, choices, and determinations by the Hedging Party shall be
made in good faith and in a commercially reasonable manner. The parties agree that they will work reasonably to resolve any disputes as set forth in the second paragraph under “Calculation Agent” below.
		
	Determining Party:	  	For all applicable Extraordinary Events, Dealer; provided, however, that all calculations, adjustments, specifications, choices, and determinations by the Determining Party shall be made in good faith and in a
commercially reasonable manner. The parties agree that they will work reasonably to resolve any disputes as set forth in the second paragraph under “Calculation Agent” below.
			
	Acknowledgements:	  		  	
		
	Non-Reliance:	  	Applicable
		
	Agreements and Acknowledgements Regarding Hedging Activities:	  	Applicable
		
	Additional Acknowledgements:	  	Applicable


  
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	 3. Calculation Agent:
	  	 Dealer, which shall make all calculations, adjustments and determinations with respect to the Transaction that are not expressly
required hereunder or under the Equity Definitions or the Agreement to be made by another party. All calculations, adjustments, specifications, choices, and determinations by the Calculation Agent shall be made in good faith and in a commercially
reasonable manner. The parties agree that they will work reasonably to resolve any disputes as set forth in the immediately following paragraph.
  

In the case of any calculation, adjustment or determination by the Hedging Party, the Determining Party or the Calculation Agent, following any written request
from Counterparty, the Hedging Party, the Determining Party or the Calculation Agent, as the case may be, shall promptly provide to Counterparty a written explanation describing in reasonable detail the basis for such calculation, adjustment or
determination (including any quotation, market data or information from internal or external sources used in making such calculation, adjustment or determination, but without disclosing any proprietary models or other information that may be
proprietary or confidential). If Counterparty promptly disputes such calculation, adjustment or determination in writing and provides reasonable detail as to the basis for such dispute, the Calculation Agent shall, to the extent permitted by
applicable law (as reasonably determined by Dealer), discuss the dispute with Counterparty in good faith.

			
	 4. [Reserved]
	  		  	
		
	 5. Account Details:
	  	 Dealer Payment Instructions:
  

Bank: JPMorgan Chase Bank, N.A.
 ABA#: 021000021

Acct No.: 099997979
 Beneficiary: JPMorgan Chase Bank, N.A. New
York
 Ref: Derivatives
  

Counterparty Payment Instructions:
  

Bank: Silicon Valley Bank
 Address: 3003 Tasman Dr, Santa Clara,
CA 95054
 ABA#: 121140399
 Beneficiary: Aegerion
Pharmaceuticals, Inc.
 Account #: 3300803370

		
	 6. Offices:
	  	 The Office of Dealer for the Transaction is: London
  

JPMorgan Chase Bank, National Association

London Branch
 25 Bank
Street
 Canary Wharf

London E14 5JP

England
  

The Office of Counterparty for the Transaction is: Not Applicable



  
 12 









					
	 7. Notices:
	  	For purposes of this Confirmation:
		
		  	Address for notices or communications to Counterparty:
			
		  	To:	  	Aegerion Pharmaceuticals, Inc.
		  		  	101 Main Street, Suite 1850
		  		  	Cambridge, Massachusetts 02142
		  	Attn:	  	Chief Financial Officer
		  	Telephone:	  	(617) 500-6235
		  	Facsimile:	  	(617) 945-7968
		
		  	Any notice or other communication required or permitted to be given to Dealer (for matters other than operational matters) with respect to this Confirmation shall be delivered in person or given by facsimile transmission
to Dealer at the following address:
			
		  	 To:
	  	JPMorgan Chase Bank, National Association
		  		  	EDG Marketing Support
		  	Email:	  	edg_notices@jpmorgan.com
		  		  	edg_ny_corporate_sales_support@jpmorgan.com
		  	Facsimile:	  	1-866-886-4506
		
		  	 With a copy to:

		
		  	Attn: Santosh Sreenivasan
		  	Title: Managing Director, Head of U.S. Equity-linked Capital Markets
		  	Telephone: 212-622-5604

 8. Representations, Warranties and Agreements: 

(a) In addition to the representations and warranties in the Agreement and those contained elsewhere herein, Counterparty
represents and warrants to and for the benefit of, and agrees with, Dealer as follows: 
 (i) On the Trade Date, and as of
the date of any election by Counterparty that the Share Termination Alternative under (and as defined in) Section 9(a) below shall not apply, (A) none of Counterparty and its officers and directors is aware of any material nonpublic
information regarding Counterparty or the Shares and (B) all reports and other documents filed by Counterparty with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) when considered as a whole (with the more recent such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents), do not contain any untrue statement of a material fact or any
omission of a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading. 

(ii) Without limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that Dealer is
not making any representations or warranties with respect to the treatment of the Transaction under ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives and Hedging, ASC Topic 480, Distinguishing Liabilities from Equity and ASC Topic
815-40, Derivatives and Hedging – Contracts in Entity’s Own Equity (or any successor issue statements), or under any other accounting guidance. 

(iii) Prior to the Trade Date, Counterparty shall deliver to Dealer a resolution of Counterparty’s board of directors
authorizing the Transaction and such other certificate or certificates as Dealer shall reasonably request. 
 (iv)
Counterparty is not entering into this Confirmation, and will not make any election hereunder, to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or
otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or otherwise in violation of the Exchange Act. 

  
 13 








 (v) Counterparty is not, and after giving effect to the transactions contemplated
hereby will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

(vi) On each of the Trade Date and the Premium Payment Date, Counterparty is not, or will not be, “insolvent” (as
such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and Counterparty would be able to purchase 11,311,446 Shares in compliance with the corporate
laws of the jurisdiction of its incorporation. 
 (vii) To Counterparty’s knowledge, no state or local (including
non-U.S. jurisdictions) law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any
person or entity) solely as a result of Dealer or its affiliates having the power to vote, owning or holding (however defined) Shares (and not due to any other Dealer activity). 

(viii) The representations and warranties of Counterparty set forth in Section 3 of the Agreement and Section 4 of
the Purchase Agreement dated as of August 11, 2014 among Counterparty and Jefferies LLC and JPMorgan Securities LLC, as representatives of the Initial Purchasers party thereto (the “Purchase Agreement”), are true and correct
and are hereby deemed to be repeated to Dealer as if set forth herein. 
 (ix) Counterparty understands no obligations of
Dealer to it hereunder will be entitled to the benefit of deposit insurance and that such obligations will not be guaranteed by any affiliate of Dealer or any governmental agency. 

(x) (A) Counterparty is acting for its own account, and it has made its own independent decisions to enter into the Transaction
and as to whether the Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary, (B) Counterparty is not relying on any communication (written or oral) of Dealer or any
of its affiliates as investment advice or as a recommendation to enter into the Transaction (it being understood that information and explanations related to the terms and conditions of the Transaction shall not be considered investment advice or a
recommendation to enter into the Transaction) and (C) no communication (written or oral) received from Dealer or any of its affiliates shall be deemed to be an assurance or guarantee as to the expected results of the Transaction. 

(xi) Counterparty (i) is capable of evaluating investment risks independently, both in general and with regard to all
transactions and investment strategies involving a security or securities; (ii) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (iii) has total assets of at least $50 million as of the date hereof. 

(b) Each of Dealer and Counterparty agrees and represents that it is an “eligible contract participant” as defined in
the U.S. Commodity Exchange Act, as amended. 
 (c) Counterparty acknowledges that the offer and sale of the Transaction to
it is intended to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(a)(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that
(i) it has the financial ability to bear the economic risk of its investment in the Transaction and is able to bear a total loss of its investment, (ii) it is an “accredited investor” as that term is defined in Regulation D as
promulgated under the Securities Act, (iii) it is entering into the Transaction for its own account and without a view to the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not
been and will not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and state securities laws and (v) it is capable of evaluating investment risks independently, both in general and with regard
to all transactions and investment strategies involving a security or securities. 
 (d) Counterparty agrees and acknowledges
that Dealer is a “financial institution,” “swap participant” and “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the Bankruptcy Code. The parties hereto further agree
and acknowledge that it is the intent of the parties (A) that this Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and
delivery hereunder or in connection herewith is a “termination value,” “payment 

  
 14 








 
amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “settlement payment,” as such term is defined in
Section 741(8) of the Bankruptcy Code, and (ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a
“termination value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “transfer,” as such term is defined in Section 101(54) of the
Bankruptcy Code, and (B) that Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 362(o), 546(e), 546(g), 548(d)(2), 555 and 560 of the Bankruptcy Code. 

(e) It is the intent of the parties that, in respect of Counterparty, (a) the Transaction shall constitute a
“qualified financial contract” within the meaning of 12 U.S.C. Section 1821(e)(8)(D)(i) and (b) a Non-defaulting Party’s rights under Sections 5 and 6 of the Agreement constitute rights of the kind referred to in 12 U.S.C.
Section 1821(e)(8)(A). 
 9. Miscellaneous: 

(a) Alternative Calculations and Dealer Payment on Early Termination and on Certain Extraordinary Events. If (a) an
Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event
(except, in the case of clause (a) and/or (b) above, as applicable, as a result of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to all holders of Shares consists solely of cash, (ii) a
Merger Event or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party other than an Event of
Default of the type described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement, in each case that resulted from an event or events
outside Counterparty’s control), and if Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a
“Payment Obligation”), then Dealer shall satisfy the Payment Obligation by the Share Termination Alternative (as defined below), unless (x) Counterparty gives irrevocable telephonic notice to Dealer, confirmed in writing within
one Scheduled Trading Day, no later than 12:00 p.m. (New York City time) on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as
applicable, of its election that the Share Termination Alternative shall not apply, (y) Counterparty remakes the representation set forth in Section 8(a)(i) as of the date of such election and (z) Dealer agrees, in its sole
discretion, to such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii) of the Agreement, as the case may be, shall apply. 

 

			
	Share Termination Alternative:	  	Applicable and means that Dealer shall deliver to Counterparty the Share Termination Delivery Property on the date on which the Payment Obligation would otherwise be due pursuant to “Consequences of Merger Events” above,
Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) of the Agreement, as applicable, or such later date or dates as the Calculation Agent may reasonably determine (the “Share Termination Payment Date”), in
satisfaction of the Payment Obligation.
		
	Share Termination Delivery Property:	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery
Property by replacing any fractional portion of the aggregate amount of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.
		
	Share Termination Unit Price:	  	The value of property contained in one Share Termination Delivery Unit on the date such Share Termination Delivery Units are to be delivered as Share Termination Delivery Property, as determined by the Calculation Agent in good
faith by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of notification of the Payment Obligation.
		
	Share Termination Delivery Unit:	  	In the case of a Termination Event, Event of Default, Delisting or Additional Disruption Event, one Share or, in the case of an Insolvency, Nationalization or


  
 15 









			
		  	Merger Event, one Share or a unit consisting of the number or amount of each type of property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional
amounts of any securities) in such Insolvency, Nationalization or Merger Event, as applicable. If such Insolvency, Nationalization or Merger Event involves a choice of consideration to be received by holders, such holder shall be deemed to have
elected to receive the maximum possible amount of cash.
		
	Failure to Deliver:	  	Applicable
		
	Other applicable provisions:	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.10, 9.11 (except that the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be modified by excluding any
representations therein relating to restrictions, obligations, limitations or requirements under applicable securities laws arising as a result of the fact that Counterparty is the issuer of the Shares or any portion of the Share Termination
Delivery Units) and 9.12 of the Equity Definitions will be applicable as if “Physical Settlement” applied to the Transaction, except that all references to “Shares” shall be read as references to “Share Termination Delivery
Units.”

 (b) Payment by Counterparty. In the event that, following payment of the Premium,
(i) an Early Termination Date occurs or is designated with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default of the type described in Section 5(a)(ii) or 5(a)(iv) of the
Agreement) and, as a result, Counterparty owes to Dealer an amount pursuant to Section 6 of the Agreement, or (ii) Counterparty owes to Dealer an amount pursuant to Article 12 of the Equity Definitions (including, for the avoidance of
doubt, any amount payable in connection with an Extraordinary Event), such amount shall be deemed to be zero. 
 (c)
Additional Termination Events. The occurrence of (i) an “Event of Default” with respect to Counterparty under the terms of the Convertible Securities as set forth in Section 7.01 of the Indenture, or (ii) an Amendment
Event shall be an Additional Termination Event with respect to which the Transaction is the sole Affected Transaction and Counterparty is the sole Affected Party and Dealer shall be the party entitled to designate an Early Termination Date pursuant
to Section 6(b) of the Agreement. For the avoidance of doubt, the relevant Early Termination Amount in respect of an Amendment Event shall be calculated without giving effect to the related amendment, modification, supplement or waiver. 

“Amendment Event” means that Counterparty, without the prior consent of Dealer, amends, modifies, supplements,
waives or obtains a waiver in respect of (i) any term of the Indenture or the Convertible Securities governing the principal amount, coupon, maturity, repurchase obligation of Counterparty or redemption right of Counterparty (if any) or any
term relating to conversion of the Convertible Securities (including changes to the conversion rate, conversion rate adjustment provisions, conversion settlement dates, conversion conditions or settlement upon conversion), in each case regardless of
whether consent of the holders of Convertible Securities is required, or (ii) any term that would require consent of the holders of not less than 100% of the principal amount of the Convertible Securities to amend. 

In addition, notwithstanding anything to the contrary in this Confirmation, it shall constitute an Additional Termination Event
as provided in this paragraph if Counterparty shall deliver to Dealer, within the applicable time period set forth opposite “Notice of Exercise” in Section 2 of this Confirmation, a notice (a “Make Whole Notice”)
(i) containing the information required in a Notice of Exercise (assuming, for this purpose, that the relevant conversion were not an Excluded Conversion) and (ii) stating that a conversion of Convertible Securities has occurred as to
which “Additional Shares” would be added to the “Conversion Rate” pursuant to Section 4.04 of the Indenture in connection with a “Make-Whole Fundamental Change”. Upon receipt of any such Make-Whole Notice, Dealer
shall promptly designate an Exchange Business Day following such Additional Termination Event (which Exchange Business Day shall in no event be earlier than the related settlement date for such Convertible Securities) as an Early Termination Date
with respect to the portion of this Transaction corresponding to a number of Options (the “Make-Whole Conversion Options”) equal to the lesser of (A) the number of such Options specified in such Notice of Exercise and
(B) the Number of Options as of the date Dealer designates such Early Termination Date and, as of such date, the Number of Options shall be reduced by the number of Make-Whole Conversion Options. Any payment hereunder with respect to such
termination (the “Make-Whole Unwind 

  
 16 








 
Payment”) shall be calculated pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms
identical to this Transaction and a Number of Options equal to the number of Make-Whole Conversion Options, (2) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (3) the terminated portion of
the Transaction were the sole Affected Transaction; provided that the amount of cash payable in respect of such early termination by Dealer to Counterparty shall not be greater than the product of (x) the Applicable Percentage and
(y) the excess of (I) (1) the number of Make-Whole Conversion Options, multiplied by (2) the Conversion Rate (after taking into account any applicable adjustments to the Conversion Rate pursuant to Section 4.04 of the
Indenture), multiplied by (3) a price per Share as of the date on which such cash is required to be delivered pursuant to this paragraph, determined by the Calculation Agent in good faith and in a commercially reasonable manner
over (II) USD1,000 per Convertible Security. 
 (d) Disposition of Hedge Shares. Counterparty hereby agrees
that if, in the good faith reasonable judgment of Dealer, any Shares (the “Hedge Shares”) acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction cannot be freely sold in the public market by Dealer
without registration under the Securities Act, Counterparty shall, at its election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, make available to Dealer an effective registration statement under the
Securities Act to cover the resale of such Hedge Shares and (A) enter into an agreement, in form and substance satisfactory to Dealer, substantially in the form of an underwriting agreement for a registered offering, (B) provide
accountant’s “comfort” letters in customary form for registered offerings of equity securities of similar size, (C) provide disclosure opinions of nationally recognized outside counsel to Counterparty reasonably acceptable to
Dealer, (D) provide other customary opinions, certificates and closing documents customary in form for registered offerings of equity securities of similar size and (E) afford Dealer a reasonable opportunity to conduct a “due
diligence” investigation with respect to Counterparty customary in scope for underwritten offerings of equity securities; provided, however, that if Dealer, in its sole reasonable discretion, is not satisfied with access to due diligence
materials, the results of its due diligence investigation, or the procedures and documentation for the registered offering referred to above, then clause (ii) or clause (iii) of this Section 9(d) shall apply at the election of
Counterparty; (ii) in order to allow Dealer to sell the Hedge Shares in a private placement, enter into a private placement agreement substantially similar to private placement purchase agreements customary for private placements of equity
securities of similar size, in form and substance satisfactory to Dealer, including customary representations, covenants, blue sky and other governmental filings and/or registrations, indemnities to Dealer, due diligence rights (for Dealer or any
designated buyer of the Hedge Shares from Dealer), opinions and certificates and such other documentation as is customary for private placements agreements, all reasonably acceptable to Dealer (in which case, the Calculation Agent shall make any
adjustments to the terms of the Transaction that are necessary, in its commercially reasonable judgment, to account for any commercially reasonable discount from the public market price of the Shares incurred on the sale of Hedge Shares in a private
placement); or (iii) purchase the Hedge Shares from Dealer at the “Daily VWAP” on such Exchange Business Days, and in the amounts, requested by Dealer. 

(e) Repurchase and Conversion Rate Adjustment Notices. Counterparty shall, at least 10 Scheduled Trading Days prior to
(i) effecting any repurchase of Shares or (ii) consummating or otherwise executing or engaging in any transaction or event (a “Conversion Rate Adjustment Event”) that would lead to an increase in the Conversion Rate (as
such term is defined in the Indenture), in each case give Dealer a written notice of such repurchase or Conversion Rate Adjustment Event (a “Repurchase Notice”) if, following such repurchase or Conversion Rate Adjustment Event, the
Notice Percentage as determined on the date of such Repurchase Notice will be greater by 0.5% than the Notice Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such Repurchase Notice, greater than the
Notice Percentage as of August 11, 2014 (calculated as if this Transaction had been entered into as of such date)). The “Notice Percentage” as of any day is the fraction, expressed as a percentage, the numerator of which is sum
of (x) the Number of Shares and (y) the number of Shares underlying any other call option transaction (an “Other Call Option Transaction”) between Dealer as seller and Counterparty as buyer, and the denominator of which is
the number of Shares outstanding on such day. In the event that Counterparty fails to provide Dealer with a Repurchase Notice on the day and in the manner specified in this Section 9(e), then Counterparty agrees to indemnify and hold harmless
Dealer, its affiliates and their respective directors, officers, employees, agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and against any and all losses, claims, damages and
liabilities (or actions in respect thereof), joint or several, to which such Indemnified Party may become subject under applicable securities laws, including without limitation, Section 16 of the Exchange Act, relating to or arising out of such
failure. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any Indemnified Party, then Counterparty shall contribute, to the maximum extent permitted by law, to the amount paid
or payable by the 

  
 17 








 
Indemnified Party as a result of such loss, claim, damage or liability. In addition, Counterparty will reimburse any Indemnified Party for all expenses (including reasonable counsel fees and
expenses) as they are incurred (after notice to Counterparty) in connection with the investigation of, preparation for or defense or settlement of any pending or threatened claim or any action, suit or proceeding arising therefrom, whether or not
such Indemnified Party is a party thereto and whether or not such claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty. This indemnity shall survive the completion of the Transaction contemplated by this
Confirmation and any assignment and delegation of the Transaction made pursuant to this Confirmation or the Agreement shall inure to the benefit of any permitted assignee of Dealer. 

(f) Transfer or Assignment. Either party may transfer any of its rights or obligations under the Transaction with the
prior written consent of the non-transferring party, such consent not to be unreasonably withheld or delayed. For the avoidance of doubt, Dealer may condition its consent on any of the following, without limitation: (i) the receipt by Dealer of
opinions and documents reasonably satisfactory to Dealer in connection with such assignment, (ii) such assignment being effected on terms reasonably satisfactory to Dealer with respect to any legal and regulatory requirements relevant to
Dealer, (iii) the transferee being a “United States person” (as defined in the Internal Revenue Code of 1986, as amended), (iv) that, in Dealer’s reasonable determination, Dealer will not be required, as a result of such
transfer, to pay the transferee an amount under Section 2(d)(i)(4) of the Agreement greater than the amount, if any, that Dealer would have been required to pay to Counterparty in the absence of such transfer, (v) that, in Dealer’s
reasonable determination, no Event of Default, Potential Event of Default or Termination Event will occur as a result of such transfer and (vi) Counterparty continuing to be obligated to provide notices hereunder relating to the Convertible
Securities and continuing to be obligated with respect to “Disposition of Hedge Shares” and “Repurchase and Conversion Rate Adjustment Notices” above. In addition, Dealer may transfer or assign without any consent of Counterparty
its rights and obligations hereunder and under the Agreement, in whole or in part, to any of its affiliates; provided that (i) such affiliate’s credit rating from S&P or Moody’s is the same as or higher than Dealer’s
credit rating as of the date of this Confirmation, or Dealer provides a guarantee of such transferee’s obligations by Dealer or an affiliate of Dealer with such a credit rating, (ii) in Counterparty’s reasonable determination,
Counterparty will not be required, as a result of such transfer or assignment, to pay the transferee or assignee an amount under Section 2(d)(i)(4) of the Agreement greater than the amount, if any, that Counterparty would have been required to
pay to Dealer in the absence of such transfer or assignment and (iii) the Transaction is at the time of such transfer the legal, valid and binding obligation of such affiliate. In the event of any such transfer or assignment, for the avoidance
of doubt, Sections 3(e), 3(f), 4(a)(i) and 4(a)(iii) of the Agreement shall continue to apply, and the identity of the transferee or assignee shall be entered on the books and records maintained by each party or its respective agents. At any time at
which any Excess Ownership Position exists, if Dealer, in its discretion, is unable to effect a transfer or assignment to a third party in accordance with the requirements set forth above after using its commercially reasonable efforts on pricing
terms and within a time period reasonably acceptable to Dealer such that an Excess Ownership Position no longer exists, Dealer may designate any Scheduled Trading Day as an Early Termination Date with respect to a portion (the “Terminated
Portion”) of the Transaction, such that such Excess Ownership Position no longer exists. In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment or delivery shall be made
pursuant to Section 6 of the Agreement and Section 9(a) of this Confirmation as if (i) an Early Termination Date had been designated in respect of an Additional Termination Event under a Transaction having terms identical to the
Terminated Portion of the Transaction, (ii) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (iii) the Terminated Portion of the Transaction shall be the only Terminated Transaction.
“Excess Ownership Position” means any of the following: (i) the Equity Percentage exceeds 9.0%, (ii) the Option Equity Percentage exceeds 14.5%, (iii) Dealer or any “affiliate” or “associate” of
Dealer would own in excess of 13% of the outstanding Shares for purposes of Section 203 of the Delaware General Corporation Law or (iv) Dealer, Dealer Group (as defined below) or any person whose ownership position would be aggregated with
that of Dealer or Dealer Group under any federal, state or local laws, regulations or regulatory orders applicable to ownership of Shares (“Applicable Laws”) or under the constitutive documents of Counterparty or any contract or
agreement applicable to ownership of Shares to which Counterparty is a party (Dealer, Dealer Group or any such person, a “Dealer Person”), as the case may be, owns, beneficially owns, constructively owns, controls, holds the power
to vote or otherwise meets a relevant definition of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations or other requirements (including obtaining prior
approval by a state or federal regulator) of a Dealer Person under Applicable Laws and with respect to which such requirements have not been met or the relevant approval has not been received or that would give rise to any consequences under the
constitutive documents of Counterparty or any contract or agreement to which 

  
 18 








 
Counterparty is a party, as reasonably determined by Dealer, in each case minus (y) 1% of the number of Shares outstanding on the date of determination. The “Equity
Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer, for purposes of the
“beneficial ownership” test under Section 13 of the Exchange Act, or of any “group” (within the meaning of Section 13) of which Dealer is or may be deemed to be a part (Dealer and any such affiliates, persons and
groups, collectively, “Dealer Group”), beneficially owns (within the meaning of Section 13 of the Exchange Act), without duplication, on such day and (B) the denominator of which is the number of Shares outstanding on such
day. The “Option Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the sum of (1) the Number of Shares and (2) the aggregate number of Shares underlying any
other call option transaction sold by Dealer to Counterparty, and (B) the denominator of which is the number of Shares outstanding. 

(g) Staggered Settlement. Dealer may, by notice to Counterparty on or prior to any Settlement Date (a “Nominal
Settlement Date”), elect to deliver the Shares on two or more dates (each, a “Staggered Settlement Date”) or at two or more times on the Nominal Settlement Date as follows: 

(i) in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (each of which will be on or
prior to such Nominal Settlement Date, but not prior to the beginning of the related Observation Period) or delivery times and how it will allocate the Shares it is required to deliver under “Delivery Obligation” (above) among the
Staggered Settlement Dates or delivery times; and 
 (ii) the aggregate number of Shares that Dealer will deliver to
Counterparty hereunder on all such Staggered Settlement Dates and delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date. 

(h) Right to Extend. Dealer may postpone any Exercise Date or Settlement Date or any other date of valuation or delivery
by Dealer with respect to some or all of the relevant Options (in which event the Calculation Agent shall make appropriate adjustments to the Delivery Obligation) if Dealer determines, based on advice of counsel, that such extension is reasonably
necessary or appropriate to preserve Dealer’s commercially reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions in the cash market, the stock loan market or any other relevant market. 

(i) No Set-off. Each party waives any and all rights it may have to set off obligations arising under the Agreement and
the Transaction against other obligations between the parties, whether arising under any other agreement, applicable law or otherwise. 

(j) Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is not intended to convey to
it rights with respect to the Transaction that are senior to the claims of common stockholders or Counterparty in the event of Counterparty’s bankruptcy. For the avoidance of doubt, the parties agree that the preceding sentence shall not apply
at any time other than during Counterparty’s bankruptcy. 
 (k) No Collateral. Notwithstanding any provision of
this Confirmation, the Agreement, the Equity Definitions or any other agreement between the parties to the contrary, the obligations of Counterparty under the Transaction are not secured by any collateral. 

(l) Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each
of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses)
that are provided to Counterparty relating to such tax treatment and tax structure. 
 (m) Method of Delivery.
Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty, Dealer may
designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or to make or receive such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee
may assume such obligations. Dealer shall be discharged of its obligations to Counterparty to the extent of any such performance by such designee to Counterparty. 

(n) Agreements and Acknowledgments Regarding Hedging. Counterparty understands, acknowledges and agrees that:
(A) at any time on and prior to the Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order


  
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to adjust its hedge position with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in
relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging or market activities in securities of Counterparty shall be conducted and shall do so in a manner that it deems
appropriate to hedge its price and market risk with respect to the Daily VWAP; and (D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares, as well as the Daily VWAP,
each in a manner that may be adverse to Counterparty. 
 (o) Wall Street Transparency and Accountability Act. In
connection with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under
WSTAA or an amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination
event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging
Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)). 
 (p)
Certain Tax Considerations. 
 (i) Dealer makes the following representations to Counterparty: it is a “United
States person” (as that term is defined in Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended. Dealer agrees to complete, accurately and in a manner reasonably satisfactory to Counterparty, to execute and to deliver to
Counterparty a valid U.S. Internal Revenue Service Form W-9 (or any successor form) and any required attachments thereto (A) upon execution of this Confirmation and thereafter prior to the date on which such form becomes invalid,
(B) promptly upon reasonable demand by Counterparty and (C) promptly upon learning that any Form W-9 (or any successor thereto) previously provided by Dealer has become obsolete, invalid or incorrect. 

(ii) Dealer makes the following representation to Counterparty: it is a “dealer” within the meaning of Section 1.1001-4(b)(1) of the United States Treasury Regulations. 
 (iii)
Counterparty makes the following representation to Dealer: it is a corporation established under the laws of the State of Delaware and is a “United States person” (as that term is defined in Section 7701(a)(30) of the Internal Revenue
Code of 1986, as amended). Counterparty agrees to complete, accurately and in a manner reasonably satisfactory to Dealer, to execute and to deliver to Dealer a valid U.S. Internal Revenue Service Form W-9 (or any successor form) and any required
attachments thereto (A) upon execution of this Confirmation and thereafter prior to the date on which such form becomes invalid, (B) promptly upon reasonable demand by Dealer and (C) promptly upon learning that any Form W-9 (or any
successor thereto) previously provided by Counterparty has become obsolete, invalid or incorrect. 
 (q) Foreign Account
Tax Compliance Act. The parties agree that the definitions and provisions contained in the Attachment to the ISDA 2012 FATCA Protocol as published by ISDA on August 15, 2012, are incorporated into and apply to the Agreement as if set forth
in full herein. 
 (r) Early Unwind. In the event that the sale by Counterparty of the Optional Securities (as defined
in the Purchase Agreement) is not consummated with the Initial Purchasers pursuant to the Purchase Agreement for any reason by the close of business in New York on August 21, 2014 (or such later date as agreed upon by the parties, which in no
event shall be later than August 27, 2014) (August 21, 2014 or such later date being the “Early Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and the
Transaction and all of the respective rights and obligations of Dealer and Counterparty thereunder shall be cancelled and terminated. Following such termination, cancellation and payment, subject to the preceding sentence, each party shall be
released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of either party arising out of and to be performed in connection with the Transaction either
prior to or after the Early Unwind Date. 

  
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 (s) Severability; Illegality. Notwithstanding anything to the contrary in
the Agreement, if compliance by either party with any provision of the Transaction would be unenforceable or illegal, (a) the parties shall negotiate in good faith to resolve such unenforceability or illegality in a manner that preserves the
economic benefits of the transactions contemplated hereby and (b) the other provisions of the Transaction shall not be invalidated, but shall remain in full force and effect. 

(t) Waiver of Jury Trial. EACH OF COUNTERPARTY AND DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN BEHALF
AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTION OR THE
ACTIONS OF DEALER OR ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF. 
 (u)
Governing Law; Jurisdiction. THIS CONFIRMATION AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS CONFIRMATION SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF
INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS. 

  
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 Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Confirmation
and returning it to J.P. Morgan Securities LLC, 383 Madison Ave, New York, NY 10179, and by email to EDG_Notices@jpmorgan.com and EDG_NY_Corporate_Sales_Support@jpmorgan.com. 
  


			
	Very truly yours,
	
	J.P. MORGAN SECURITIES LLC, as agent for
	JPMorgan Chase Bank, National Association, London Branch
		
	By:	 	 /s/ Santosh Sreevasan

	Name:	 	Santosh Sreevasan
	Title:	 	Managing Director








 Counterparty hereby agrees to, accepts and confirms the terms of the foregoing as of the Trade Date. 

 

			
	AEGERION PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Mark J. Fitzpatrick

	Name:	 	Mark J. Fitzpatrick
	Title	 	CFO