Amended and Restated Executive Change in Control and Severance Benefit Plan



 EXHIBIT 10.81 
 JAZZ PHARMACEUTICALS, INC. 
 AMENDED
AND RESTATED 
 EXECUTIVE CHANGE IN CONTROL
AND SEVERANCE BENEFIT PLAN 
 SECTION 1. INTRODUCTION. 
 The Jazz Pharmaceuticals, Inc. Amended and Restated Executive Change in Control and Severance Benefit Plan (the “Plan”) is hereby
amended effective February 17, 2009 (originally established effective May 1, 2007 (the “Effective Date”). The purpose of the Plan is to provide for the payment of severance benefits to certain eligible executive
employees of Jazz Pharmaceuticals, Inc. (the “Company”) or its Affiliates in the event that such employees are subject to qualifying employment terminations in connection with a Change in Control. This Plan shall supersede
any individually negotiated employment or severance benefit agreement and any generally applicable severance or change in control plan, policy, or practice, whether written or unwritten, with respect to each employee who becomes a Participant in the
Plan, in each case to the extent that such agreement, plan, policy or practice provides for benefits upon a Covered Termination (as defined herein). This Plan document also constitutes the Summary Plan Description for the Plan. 
 SECTION 2. DEFINITIONS. 
 For purposes
of the Plan, the following terms are defined as follows: 
 (a) “Affiliate” means any “parent” or
“subsidiary” of the Company as such terms are defined in Rule 405 of the Securities Act of 1933, as amended. 
 (b)
“Base Salary” means the Participant’s annual base pay (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation), at the rate in effect during the last regularly
scheduled payroll period immediately preceding the date of the Participant’s Covered Termination (without giving effect to any reduction in annual base pay after a Change in Control that would constitute grounds for Constructive Termination);
provided, however, that if the participant has, during the 12 months prior to the date of the Participant’s Covered Termination, taken a voluntary pay reduction, then the annual base pay will be determined without regard to such voluntary
reduction (assuming that the annual base pay did not include such voluntary reduction). 
 (c) “Board” means
the Board of Directors of Jazz Pharmaceuticals, Inc. 
 (d) “Bonus Percentage” means the greater of any annual
bonus, as a percentage of annual base salary paid in the year of determination, paid to the Participant in respect of either of the last two calendar years prior to the date of a Covered Termination; provided, however, that if the Participant
was not employed for the entire calendar year prior to the date of a Covered Termination, the “Bonus Percentage” shall be the average bonus, as a percentage of annual base salary, for all similarly situated employees at the Company
(e.g., all Vice Presidents, all Senior Vice Presidents, etc.) who were employed for the entire calendar year prior to the date of a Covered Termination. 
  

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 (e) “Bonus Multiplier” means the quotient obtained by dividing:
(i) the sum of the number of full months that a Participant is employed in the year of a Covered Termination and twelve (12), by (ii) twelve (12). 
 (f) “Cause” means the occurrence of any one or more of the following: (i) the Participant’s unauthorized use or disclosure of the confidential information or trade secrets of
Company or its Affiliates which use or disclosure causes material harm to the Company or an Affiliate; (ii) the Participant’s material breach of any agreement between the Participant and the Company or an Affiliate which remains uncured
for ten (10) days after receiving written notification of the breach from the Board; (iii) the Participant’s material failure to comply with the written policies or rules of the Company or an Affiliate which remains uncured for ten
(10) days after receiving written notification of the breach from the Board; (iv) the Participant’s conviction of, or plea of “guilty” or “no contest” to, any crime involving fraud, dishonesty, or moral turpitude
under the laws of any United States Federal, state, local, or foreign governmental authority; (v) the Participant’s gross misconduct; (vi) the Participant’s continuing failure to perform assigned duties after receiving written
notification of the failure from the Board; or (vii) the Participant’s failure to cooperate in good faith with a governmental or internal investigation of the Company, its Affiliates, directors, officers, or employees, if the Board has
requested the Participant’s cooperation. 
 (g) “Change in Control” shall mean the occurrence, in a
single transaction or in a series of related transactions, of any one or more of the following events: 
 (i) any
Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a
merger, consolidation or similar transaction. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A) on account of the acquisition of securities of the Company by any institutional investor, any affiliate thereof or
any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related transactions that are primarily a private financing transaction for the Company, a recapitalization of the Company or a conversion or
restructuring of Company indebtedness or (B) solely because the level of Ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding voting securities
as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition
of voting securities by the Company, and after such share acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then
outstanding voting securities Owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur; 
  

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 (ii) there is consummated a merger, consolidation or similar transaction involving
(directly or indirectly) the Company if, immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly, either
(A) outstanding voting securities representing more than fifty percent (50%) of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than fifty percent
(50%) of the combined outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in either case, in substantially the same proportions as their ownership of the voting power of the
Company’s securities immediately prior to such merger, consolidation or similar transaction; 
 (iii) the
stockholders of the Company approve or the Board approves a plan of complete dissolution or liquidation of the Company, or a complete dissolution or liquidation of the Company shall otherwise occur; or 
 (iv) there is consummated a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the
Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity, more than fifty percent (50%) of the combined voting
power of the voting securities of which are Owned by stockholders of the Company in substantially the same proportion as their Ownership of the Company immediately prior to such sale, lease, license or other disposition. 
 The term Change in Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of
changing the domicile of the Company. 
 (h) “COBRA” means the Consolidated Omnibus Budget Reconciliation Act
of 1985, as amended. 
 (i) “Code” means the Internal Revenue Code of 1986, as amended. 
 (j) “Company” means Jazz Pharmaceuticals, Inc. or, following a Change in Control which is a sale of assets or a merger in
which Jazz Pharmaceuticals, Inc. is not the surviving entity, the entity to which the assets are sold or the surviving entity resulting from such transaction, respectively. 
 (k) “Constructive Termination” means a resignation of employment by a Participant after an action or event which
constitutes Good Reason is undertaken by the Company or an Affiliate, or occurs. 
 (l) “Covered Termination”
means either (i) an Involuntary Termination Without Cause, or (ii) a Constructive Termination, in each case within twelve (12) months following a Change in Control. Termination of employment of a Participant due to death or disability
shall not constitute a Covered Termination unless a resignation of employment by the Participant immediately prior to the Participant’s death or disability would have qualified as a Constructive Termination. 
 (m) “Entity” means a corporation, partnership, limited liability company, or other entity. 
  

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 (n) “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 (o) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (p) “Exchange Act Person” means any natural person, Entity or “group” (within the meaning of Section 13(d)
or 14(d) of the Exchange Act), except that “Exchange Act Person” shall not include (A) the Company or any Subsidiary of the Company; (B) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or
other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company; (C) an underwriter temporarily holding securities pursuant to an offering of such securities; or (D) an Entity Owned,
directly or indirectly, by the stockholders of the Company in substantially the same proportions as their Ownership of stock of the Company. 
 (q) “Involuntary Termination Without Cause” means a termination by the Company of a Participant’s employment relationship with the Company or an Affiliate for any reason other than for Cause. 

(r) “Good Reason” means the occurrence of any one or more of the following actions or events: (i) a reduction in
the Participant’s Base Salary by more than ten percent (10%) (other than a reduction in conjunction with (x) a Company-wide salary reduction, or (y) a salary reduction involving senior management of the Company which results in
salary reductions for employees similarly-situated to the Participant); (ii) a relocation of Participant’s place of employment by more than thirty-five (35) miles; provided and only if such reduction or relocation is effected without
the Participant’s consent; (iii) a substantial reduction in the Participant’s duties or responsibilities (and not simply a change in reporting relationships) in effect prior to the effective date of the Change in Control; provided,
however, that it shall not constitute “Good Reason” if, following the effective date of the Change in Control, either (x) the Company is retained as a separate legal entity or business unit and the Participant holds the same
position in such legal entity or business unit as the Participant held before such effective date, or (y) the Participant holds a position with duties and responsibilities comparable (though not necessarily identical, in view of the relative
sizes of the Company and the entity involved in the Change in Control) to the duties and responsibilities of the Participant prior to the effective date of the Change in Control; (iv) a reduction in the Participant’s title (e.g.,
the Participant no longer has a “Vice President” or “Senior Vice President”, etc. title); or (v) required travel by the Participant on the Company’s business is substantially increased compared with the
Participant’s business travel obligations prior to the Change in Control, provided and only if such increased business travel is effected without the Participant’s consent. 
 (s) “Own,” “Owned,” “Owner,” “Ownership” A person
or Entity shall be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired “Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement,
understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such securities. 
  


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 (t) “Participant” means an individual who has been designated a
Participant by the Plan Administrator in its sole discretion (either by a specific designation or by virtue of being a member of a class of employees who have been so designated). 
 (u) “Plan Administrator” means the Board or any committee duly authorized by the Board to administer the Plan. The Plan
Administrator may, but is not required to be, the Compensation Committee of the Board. The Board may at any time administer the Plan, in whole or in part, notwithstanding that the Board has previously appointed a committee to act as the Plan
Administrator. 
 (v) “Subsidiary” shall mean any corporation (other than the Company) in an unbroken chain of
corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 
 SECTION 3. ELIGIBILITY FOR BENEFITS. 
 (a) General Rules. Subject to the limitations set forth in this Section 3 and Section 5, in the event of a Covered Termination, the Company shall provide the severance benefits described in
Section 4 to each affected Participant. 
 (b) Exceptions to Benefit Entitlement. A Participant will not receive benefits under
the Plan (or will receive reduced benefits under the Plan) in the following circumstances, as determined by the Plan Administrator in its sole discretion: 
 (i) The Participant has executed an individually negotiated employment contract or agreement with the Company relating to severance benefits that is in effect on his or her termination date and which provides
for such benefits upon a Covered Termination. 
 (ii) The Participant is entitled to receive benefits under another
severance benefit plan maintained by the Company on his or her termination date and which provides such benefits upon a Covered Termination. 
 (iii) The Participant’s employment terminates or is terminated for any reason other than a Covered Termination. 
 (iv) The Participant voluntarily terminates employment with the Company in order to accept employment with another entity that is controlled (directly or indirectly) by the Company or is otherwise an Affiliate.

 (v) The Participant does not confirm in writing that he or she shall be subject to the Company’s Employee
Confidential Information and Inventions Agreement. 
 (vi) The Participant is rehired prior to the date benefits
under the Plan are scheduled to commence by the Company or an Affiliate for an identical or substantially equivalent or comparable position as the Participant’s last position with the Company or an Affiliate. 
  

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 (vii) The Participant is offered an identical or substantially equivalent or
comparable position with the Company, an Affiliate, or a successor pursuant to a Change in Control. For purposes of the foregoing, a “substantially equivalent or comparable position” is one that offers the Participant substantially the
same level of responsibility and Base Salary; provided, however, that a Participant shall not be considered to be offered a “substantially equivalent or comparable position” if a resignation by the Participant would constitute
Constructive Termination. 
 (viii) The Participant has failed to execute or has revoked the release described in
Section 5(a). 
 (c) Termination of Benefits. A Participant’s right to receive benefits under this Plan shall terminate
immediately if, at any time prior to or during the period for which the Participant is receiving benefits hereunder, the Participant, without the prior written approval of the Plan Administrator: 
 (i) willfully breaches a material provision of the Company’s Employee Confidential Information and Inventions
Agreement; 
 (ii) encourages or solicits any of the Company’s then current employees to leave the
Company’s employ for any reason or interferes in any other manner with employment relationships at the time existing between the Company and its then current employees; or 
 (iii) induces any of the Company’s then current clients, customers, suppliers, vendors, distributors, licensors, licensees or
other third party to terminate their existing business relationship with the Company or interferes in any other manner with any existing business relationship between the Company and any then current client, customer, supplier, vendor, distributor,
licensor, licensee or other third party. 
 SECTION 4. AMOUNT OF BENEFITS. 
 In the event of a Participant’s Covered Termination, the Participant shall be entitled to receive the benefits provided by this Section 4.

 (a) Cash Severance Benefits. The Company shall make a cash severance payment to the Participant in an amount equal to the sum of
(i) the Participant’s Base Salary, and (ii) the product of (A) the Participant’s Base Salary, and (B) the Participant’s Bonus Percentage, and (C) the Participant’s Bonus Multiplier, multiplied by the
percentage set forth below that applies to the Participant: 
  

				
	 If the Participant is at the time of the Covered Termination a:
	  	Applicable Percentage:	 
	 Vice President
	  	100	%
	 Senior Vice President
	  	125	%
	 Chief Executive Officer, Executive Chairman or President
	  	150	%

  

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 Such severance payment shall be paid in accordance with Section 6. 
 (b) Health Continuation Coverage. 
 (i) Provided that the Participant is eligible for, and has made an election at the time of the Covered Termination pursuant to COBRA under a health, dental, or vision plan sponsored by the Company, each such
Participant shall be entitled to payment by the Company of all of the applicable premiums (inclusive of premiums for the Participant’s dependents for such health, dental, or vision plan coverage as in effect immediately prior to the date of the
Covered Termination) for such health, dental, or vision plan coverage for a period of twelve (12) months, in the case of a Vice President, fifteen (15) months in the case of a Senior Vice President, and eighteen (18) months in the
case of the Chief Executive Officer, Executive Chairman or President, following the date of the Covered Termination, with such coverage counted as coverage pursuant to COBRA. 
 (ii) No such premium payments (or any other payments for health, dental, or vision coverage by the Company) shall be made following
the Participant’s death or the effective date of the Participant’s coverage by a health, dental, or vision insurance plan of a subsequent employer. Each Participant shall be required to notify the Plan Administrator immediately if the
Participant becomes covered by a health, dental, or vision insurance plan of a subsequent employer. Upon the conclusion of such period of insurance premium payments made by the Company, the Participant will be responsible for the entire payment of
premiums required under COBRA for the duration of the COBRA period. 
 (iii) For purposes of this Section 4(b),
(i) references to COBRA shall be deemed to refer also to analogous provisions of state law, and (ii) any applicable insurance premiums that are paid by the Company shall not include any amounts payable by the Participant under an Internal
Revenue Code Section 125 health care reimbursement plan, which amounts, if any, are the sole responsibility of the Participant. 
 (c) Stock Award Vesting Acceleration. Upon a Covered Termination, (i) the vesting and exercisability of all outstanding options to purchase the Company’s common stock (or stock appreciation rights or similar rights or other
rights with respect to stock of the Company issued pursuant to any equity incentive plan of the Company) that are held by the Participant on such date shall be accelerated in full, and (ii) any reacquisition or repurchase rights held by the
Company with respect to common stock issued or issuable (or with respect to similar rights or other rights with respect to stock of the Company issued or issuable pursuant to any equity incentive plan of the Company) pursuant to any other stock
award granted to the Participant by the Company shall lapse. 
  

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 (d) Other Employee Benefits. All other benefits (such as life insurance, disability coverage, and
401(k) plan coverage) shall terminate as of the Participant’s termination date (except to the extent that a conversion privilege may be available thereunder). 
 (e) Additional Benefits. Notwithstanding the foregoing, the Plan Administrator may, in its sole discretion, provide benefits in addition to those pursuant to Sections 4(a), 4(b), and 4(c) to one or more
Participants chosen by the Plan Administrator, in its sole discretion, and the provision of any such benefits to a Participant shall in no way obligate the Company to provide such benefits to any other Participant, even if similarly situated.

 SECTION 5. LIMITATIONS ON BENEFITS. 
 (a) Release. In order to be eligible to receive benefits under the Plan, a Participant must execute a general waiver and release in substantially
the form attached hereto as EXHIBIT A, EXHIBIT B, or EXHIBIT C, as appropriate, and such release must become effective in accordance with its terms; provided, however, no such
release shall require the Participant to forego any unpaid salary, any accrued but unpaid vacation pay or any benefits payable pursuant to this Plan. With respect to any outstanding option held by the Participant, no provision set forth in this Plan
granting the Participant additional rights to exercise the option can be exercised unless and until the release becomes effective. Unless a Change in Control has occurred, the Plan Administrator, in its sole discretion, may modify the form of the
required release to comply with applicable law and shall determine the form of the required release, which may be incorporated into a termination agreement or other agreement with the Participant. 
 (b) Certain Reductions. The Plan Administrator, in its sole discretion, shall have the authority to reduce a Participant’s severance
benefits, in whole or in part, by any other severance benefits, pay in lieu of notice, or other similar benefits payable to the Participant by the Company that become payable in connection with the Participant’s termination of employment
pursuant to (i) any applicable legal requirement, including, without limitation, the Worker Adjustment and Retraining Notification Act (the “WARN Act”) or (ii) any Company policy or practice providing for the
Participant to remain on the payroll for a limited period of time after being given notice of the termination of the Participant’s employment. The benefits provided under this Plan are intended to satisfy, in whole or in part, any and all
statutory obligations and other contractual obligations of the Company, including benefits provided by offer letter or employment agreements, that may arise out of a Participant’s termination of employment, and the Plan Administrator shall so
construe and implement the terms of the Plan. The Plan Administrator’s decision to apply such reductions to the severance benefits of one Participant and the amount of such reductions shall in no way obligate the Plan Administrator to apply the
same reductions in the same amounts to the severance benefits of any other Participant, even if similarly situated. In the Plan Administrator’s sole discretion, such reductions may be applied on a retroactive basis, with severance benefits
previously paid being re-characterized as payments pursuant to the Company’s statutory or other contractual obligations. 
 (c)
Parachute Payments. Except as otherwise provided in an agreement between a Participant and the Company, if any payment or benefit the Participant would receive in connection with a Change in Control from the Company or otherwise
(“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but 

  

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for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall
be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax, or (y) the largest portion, up to and
including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the
Participant’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute
payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order unless the Participant elects in writing a different order (provided, however, that such election shall be subject to
Company approval if made on or after the date on which the event that triggers the Payment occurs): (1) reduction of cash payments; (2) cancellation of accelerated vesting of equity awards other than stock options; (3) cancellation of
accelerated vesting of stock options; and (4) reduction of other benefits paid to a Participant. If acceleration of vesting of compensation from a Participant’s equity awards is to be reduced, such acceleration of vesting shall be
cancelled by first canceling such acceleration for the vesting installment that will vest last and continuing by canceling as a first priority such acceleration for vesting installments with the latest vesting unless the Participant elects in
writing a different order for cancellation prior to any Change in Control. 
 (d) Mitigation. Except as otherwise specifically
provided herein, a Participant shall not be required to mitigate damages or the amount of any payment provided under this Plan by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Plan be reduced by
any compensation earned by a Participant as a result of employment by another employer or any retirement benefits received by such Participant after the date of the Participant’s termination of employment with the Company, except for health
continuation coverage provided pursuant to Section 4(b). 
 (e) Non-Duplication of Benefits. Except as otherwise specifically
provided for herein, no Participant is eligible to receive benefits under this Plan or pursuant to other contractual obligations more than one time. This Plan is designed to provide certain severance pay and change in control benefits to
Participants pursuant to the terms and conditions set forth in this Plan. The payments pursuant to this Plan are in addition to, and not in lieu of, any unpaid salary, bonuses or benefits to which a Participant may be entitled for the period ending
with the Participant’s Covered Termination. 
 SECTION 6. TIME OF PAYMENT AND
FORM OF BENEFITS. 
 (a) General Rules. Except as otherwise set forth in the Plan, the
cash severance benefits under Section 4(a) of the Plan, if any, shall be paid in a single lump sum payment on the first payroll date following the Participant’s Covered Termination. In no event shall payment of any Plan benefit set forth
in Section 4 be made prior to the effective date of the release described in Section 5(a). For the avoidance of doubt, in the event of an acceleration of the exercisability of an option (or other award) pursuant to Section 4(c), such
option (or other award) shall not be exercisable with respect to such acceleration of exercisability unless and until the effective date of the release described in Section 5(a). 
  

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 (b) Application of Section 409A. In the event that the Plan Administrator determines that
(i) any cash severance benefit provided under Section 4(a), (ii) the health continuation coverage provided under Section 4(b), or (iii) any additional benefits provided under Section 4(e), shall fail to satisfy the
distribution requirement of Section 409A(a)(2)(A) of the Code as a result of Section 409A(a)(2)(B)(i) of the Code, the payment of such benefit shall be accelerated to the minimum extent necessary so that the benefit is not subject to the
provisions of Section 409A(a)(1) of the Code. (It is the intention of the preceding sentence to apply the short-term deferral provisions of Section 409A of the Code, and the regulations and other guidance thereunder, to the such payments,
and the payment schedule as revised after the application of the preceding sentence shall be referred to as the “Revised Payment Schedule.”) However, if there is no Revised Payment Schedule that would avoid the application of
Section 409A(a)(1) of the Code, the payment of such benefits shall not be paid pursuant to a Revised Payment Schedule and instead shall be delayed to the minimum extent necessary so that such benefits are not subject to the provisions of
Section 409A(a)(1) of the Code. The Plan Administrator may attach conditions to or adjust the amounts paid pursuant to this Section 6(b) to preserve, as closely as possible, the economic consequences that would have applied in the absence
of this Section 6(b); provided, however, that no such condition or adjustment shall result in the payments being subject to Section 409A(a)(1) of the Code. 
 (c) Tax Withholding. All payments under the Plan will be subject to all applicable withholding of the Company, including, without limitation,
obligations to withhold for federal, state and local income and employment taxes. 
 (d) Indebtedness of Participants. If a
Participant is indebted to the Company on the effective date of his or her Covered Termination, the Plan Administrator reserves the right to offset any severance payments under the Plan by the amount of such indebtedness. 
 SECTION 7. RIGHT TO INTERPRET PLAN; AMENDMENT AND
TERMINATION. 
 (a) Exclusive Discretion. The Plan Administrator shall have the exclusive discretion and authority
to establish rules, forms, and procedures for the administration of the Plan, and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or administration arising in connection with
the operation of the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The rules, interpretations, computations and other actions of the Plan Administrator shall be binding
and conclusive on all persons. 
 (b) Amendment or Termination. The Company reserves the right to amend or terminate this Plan, or the
benefits provided hereunder at any time; provided, however, that no such amendment or termination shall occur following a Change in Control or a Covered Termination as to any Participant who would be adversely affected by such amendment or
termination unless such Participant consents in writing to such amendment or termination. Any action amending or terminating the Plan shall be in writing and executed by a duly authorized officer of the Company. 
  

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 SECTION 8. NO IMPLIED EMPLOYMENT CONTRACT. 

The Plan shall not be deemed (i) to give any employee or other person any right to be retained in the employ of the Company or an Affiliate, or
(ii) to interfere with the right of the Company or an Affiliate to discharge any employee or other person at any time, with or without cause, which right is hereby reserved. 
 SECTION 9. LEGAL CONSTRUCTION. 
 This Plan is intended to be governed by
and shall be construed in accordance with ERISA and, to the extent not preempted by ERISA, the laws of the State of California. 
 SECTION 10.
CLAIMS, INQUIRIES AND APPEALS. 
 (a) Applications for Benefits and
Inquiries. Any application for benefits, inquiries about the Plan or inquiries about present or future rights under the Plan must be submitted to the Plan Administrator in writing by an applicant (or his or her authorized representative). The
Plan Administrator is set forth in Section 12(d). 
 (b) Denial of Claims. In the event that any application for benefits is
denied in whole or in part, the Plan Administrator must provide the applicant with written or electronic notice of the denial of the application, and of the applicant’s right to review the denial. Any electronic notice will comply with the
regulations of the U.S. Department of Labor. The notice of denial will be set forth in a manner designed to be understood by the applicant and will include the following: 
 (i) the specific reason or reasons for the denial; 
 (ii) references to the specific Plan provisions upon which the denial is based; 
 (iii) a description of any additional information or material that the Plan Administrator needs to complete the review and an
explanation of why such information or material is necessary; and 
 (iv) an explanation of the Plan’s review
procedures and the time limits applicable to such procedures, including a statement of the applicant’s right to bring a civil action under Section 502(a) of ERISA following a denial on review of the claim, as described in
Section 10(d) below. 
 This notice of denial will be given to the applicant within ninety (90) days after the Plan Administrator
receives the application, unless special circumstances require an extension of time, in which case, the Plan Administrator has up to an additional ninety (90) days for processing the application. If an extension of time for processing is
required, written notice of the extension will be furnished to the applicant before the end of the initial ninety (90) day period. 
 This notice of extension will describe the special circumstances necessitating the additional time and the date by which the Plan Administrator is to render its decision on the application. 
  

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 (c) Request for a Review. Any person (or that person’s authorized representative) for whom an
application for benefits is denied, in whole or in part, may appeal the denial by submitting a request for a review to the Plan Administrator within sixty (60) days after the application is denied. A request for a review shall be in writing and
shall be addressed to: 
 Jazz Pharmaceuticals, Inc. 
 Attn: General Counsel 
 3180 Porter Drive 
 Palo Alto, CA 94304 
 A request for review must set forth all of the grounds on which
it is based, all facts in support of the request and any other matters that the applicant feels are pertinent. The applicant (or his or her representative) shall have the opportunity to submit (or the Plan Administrator may require the applicant to
submit) written comments, documents, records, and other information relating to his or her claim. The applicant (or his or her representative) shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant to his or her claim. The review shall take into account all comments, documents, records and other information submitted by the applicant (or his or her representative) relating to the claim, without regard to
whether such information was submitted or considered in the initial benefit determination. 
 (d) Decision on Review. The Plan
Administrator will act on each request for review within sixty (60) days after receipt of the request, unless special circumstances require an extension of time (not to exceed an additional sixty (60) days), for processing the request for
a review. If an extension for review is required, written notice of the extension will be furnished to the applicant within the initial sixty (60) day period. This notice of extension will describe the special circumstances necessitating the
additional time and the date by which the Plan Administrator is to render its decision on the review. The Plan Administrator will give prompt, written or electronic notice of its decision to the applicant. Any electronic notice will comply with the
regulations of the U.S. Department of Labor. In the event that the Plan Administrator confirms the denial of the application for benefits in whole or in part, the notice will set forth, in a manner calculated to be understood by the applicant, the
following: 
 (i) the specific reason or reasons for the denial; 
 (ii) references to the specific Plan provisions upon which the denial is based; 
 (iii) a statement that the applicant is entitled to receive, upon request and free of charge, reasonable access to, and copies of,
all documents, records and other information relevant to his or her claim; and 
 (iv) a statement of the
applicant’s right to bring a civil action under Section 502(a) of ERISA. 
 (e) Rules and Procedures. The Plan Administrator
will establish rules and procedures, consistent with the Plan and with ERISA, as necessary and appropriate in carrying out its responsibilities in reviewing benefit claims. The Plan Administrator may require an applicant who wishes to submit
additional information in connection with an appeal from the denial of benefits to do so at the applicant’s own expense. 
  

 12. 








 (f) Exhaustion of Remedies. No legal action for benefits under the Plan may be brought until the
applicant (i) has submitted a written application for benefits in accordance with the procedures described by Section 10(a) above, (ii) has been notified by the Plan Administrator that the application is denied, (iii) has filed a
written request for a review of the application in accordance with the appeal procedure described in Section 10(c) above, and (iv) has been notified that the Plan Administrator has denied the appeal. Notwithstanding the foregoing, if the
Plan Administrator does not respond to an applicant’s claim or appeal within the relevant time limits specified in this Section 10, the applicant may bring legal action for benefits under the Plan pursuant to Section 502(a) of ERISA.

 SECTION 11. BASIS OF PAYMENTS TO AND FROM
PLAN. 
 The Plan shall be unfunded, and all benefits hereunder shall be paid only from the general assets of the Company.

 SECTION 12. OTHER PLAN INFORMATION. 
 (a) Employer and Plan Identification Numbers. The Employer Identification Number assigned to the Company (which is the “Plan Sponsor” as
that term is used in ERISA) by the Internal Revenue Service is 05-0563787. The Plan Number assigned to the Plan by the Plan Sponsor pursuant to the instructions of the Internal Revenue Service is 502. 
 (b) Ending Date for Plan’s Fiscal Year. The date of the end of the fiscal year for the purpose of maintaining the Plan’s records is
December 31. 
 (c) Agent for the Service of Legal Process. The agent for the service of legal process with respect to the
Plan is: 
 Jazz Pharmaceuticals, Inc. 
 Attn: General Counsel 
 3180 Porter Drive 
 Palo Alto, CA 94304 
 (d) Plan Sponsor and Administrator. The “Plan Sponsor” of the Plan
is: 
 Jazz Pharmaceuticals, Inc. 
 Attn: General Counsel 
 3180 Porter Drive 
 Palo Alto, CA 94304 
 The “Plan Administrator” of the Plan is as set forth in Section 2(u). The Plan
Sponsor’s and Plan Administrator’s telephone number is (650) 496-3777 The Plan Administrator is the named fiduciary charged with the responsibility for administering the Plan. 
  

 13. 








 SECTION 13. STATEMENT OF ERISA RIGHTS. 
 Participants in this Plan (which is a welfare benefit plan sponsored by Jazz Pharmaceuticals, Inc.) are entitled to certain rights and protections under
ERISA. If you are a Participant, you are considered a participant in the Plan for the purposes of this Section 13 and, under ERISA, you are entitled to: 
 (a) Receive Information About Your Plan and Benefits 
 (i) Examine, without
charge, at the Plan Administrator’s office and at other specified locations, such as worksites, all documents governing the Plan and a copy of the latest annual report (Form 5500 Series), if applicable, filed by the Plan with the U.S.
Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration; 
 (ii)
Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan and copies of the latest annual report (Form 5500 Series), if applicable, and an updated (as necessary) Summary Plan Description. The
Plan Administrator may make a reasonable charge for the copies; and 
 (iii) Receive a summary of the Plan’s
annual financial report, if applicable. The Plan Administrator is required by law to furnish each participant with a copy of this summary annual report. 
 (b) Prudent Actions By Plan Fiduciaries. In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people
who operate the Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer, your union or any other person, may fire you
or otherwise discriminate against you in any way to prevent you from obtaining a Plan benefit or exercising your rights under ERISA. 
 (c) Enforce Your Rights. 
 (i) If your claim for a Plan benefit is denied or ignored, in whole or in
part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 (ii) Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents
or the latest annual report from the Plan, if applicable, and do not receive them within 30 days, you may file suit in a Federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a
day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. 
 (iii) If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court. 
  

 14. 








 (iv) If you are discriminated against for asserting your rights, you may seek
assistance from the U.S. Department of Labor, or you may file suit in a Federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees.
If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. 
 (d) Assistance With
Your Questions. If you have any questions about the Plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan
Administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security
Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits
Security Administration. 
 SECTION 14. GENERAL PROVISIONS. 
 (a) Notices. Any notice, demand or request required or permitted to be given by either the Company or a Participant pursuant to the terms of this
Plan shall be in writing and shall be deemed given when delivered personally or deposited in the U.S. mail, First Class with postage prepaid, and addressed to the parties, in the case of the Company, at the address set forth in Section 12(d)
and, in the case of a Participant, at the address as set forth in the Company’s employment file maintained for the Participant as previously furnished by the Participant or such other address as a party may request by notifying the other in
writing. 
 (b) Transfer and Assignment. The rights and obligations of a Participant under this Plan may not be transferred or
assigned without the prior written consent of the Company. This Plan shall be binding upon any surviving entity resulting from a Change in Control and upon any other person who is a successor by merger, acquisition, consolidation or otherwise to the
business formerly carried on by the Company without regard to whether or not such person or entity actively assumes the obligations hereunder. 
 (c) Waiver. Any Party’s failure to enforce any provision or provisions of this Plan shall not in any way be construed as a waiver of any such provision or provisions, nor prevent any Party from thereafter enforcing each and
every other provision of this Plan. The rights granted the Parties herein are cumulative and shall not constitute a waiver of any Party’s right to assert all other legal remedies available to it under the circumstances. 
 (d) Severability. Should any provision of this Plan be declared or determined to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired. 
 (e) Section Headings. Section headings in
this Plan are included for convenience of reference only and shall not be considered part of this Plan for any other purpose. 
  

 15. 








 SECTION 15. EXECUTION. 
 To record the adoption of the Plan as set forth herein, Jazz Pharmaceuticals, Inc. has caused its duly authorized officer to execute the same as of the
Effective Date. 
  

			
	JAZZ PHARMACEUTICALS, INC.
		
	By:	 	/s/ Carol Gamble
	Title:	 	Sr. Vice President & General Counsel


 The Executive Change In Control And Severance Benefit Plan was effective on May 1, 2007 
 The Executive Change In Control And Severance Benefit Plan was amended and restated on February 17, 2009 
  

 16. 








 For Employees Age 40 or Older 
 Individual Termination 
 EXHIBIT A 
 RELEASE AGREEMENT (“RELEASE”) 
 I understand and agree completely to the terms set forth in the Jazz Pharmaceuticals, Inc. Amended and Restated Executive Change in Control Severance Benefit Plan (the “Plan”). 
 I understand that this Release, together with the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with
regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 
 I hereby confirm my obligations under my Employee Confidential Information and Inventions Agreement with the Company. 
 I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for which I am
eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim. 
 In exchange for the consideration provided to me by this Release that I am not otherwise entitled to receive, I hereby generally and completely release Jazz Pharmaceuticals, Inc. and its current and former directors, officers, employees,
shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way
related to events, acts, conduct, or omissions occurring prior to my signing this Release. This general release includes, but is not limited to: (a) all claims arising out of or in any way related to my employment with the Company or the
termination of that employment; (b) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any
other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation,
emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the
federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and the California Fair Employment and
Housing Act (as amended). Nothing in this Release shall prevent me from challenging this Release by filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the
California Department of Fair Employment and Housing, except that I hereby acknowledge and agree that I shall not recover any monetary benefits in connection with any challenge to my Release. 
  

 A-1 








 For Employees Age 40 or Older 
 Individual Termination 
 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under
the ADEA (“ADEA Waiver”). I also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised by this
writing, as required by the ADEA, that: (a) my ADEA Waiver does not apply to any rights or claims that arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release; (c) I have
twenty-one (21) days to consider this Release (although I may choose to voluntarily sign it sooner); (d) I have seven (7) days following the date I sign this Release to revoke the ADEA Waiver; and (e) the ADEA Waiver will not be
effective until the date upon which the revocation period has expired unexercised, which will be the eighth day after I sign this Release. 
 I acknowledge
that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of
executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of
similar effect with respect to my release of any claims hereunder. 
 I acknowledge that to become effective, I must sign and return this Release to the
Company so that it is received not later than twenty-one (21) days following the date it is provided to me. 
  

			
	EXECUTIVE
		
	Name:	 	 
		
	Date:	 	 


  

 A-2 








 For Employees Age 40 or Older 
 Group Termination 
 EXHIBIT B 
 RELEASE AGREEMENT (“RELEASE”) 
 I understand and agree
completely to the terms set forth in the Jazz Pharmaceuticals, Inc. Amended and Restated Executive Change in Control Severance Benefit Plan (the “Plan”). 
 I understand that this Release, together with the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with
regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 
 I hereby confirm my obligations under my Employee Confidential Information and Inventions Agreement with the Company. 
 I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for which I am
eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim. 
 Except as otherwise set forth in this Release, I hereby generally and completely release Jazz Pharmaceuticals, Inc. and its current and former directors, officers, employees, shareholders, partners, agents, attorneys, predecessors,
successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring
prior to my signing this Release. This general release includes, but is not limited to: (a) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (b) all claims related to
my compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims
for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and
(e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with
Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and the California Fair Employment and Housing Act (as amended). Nothing in this Release shall prevent me from
challenging this Release by filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that I hereby
acknowledge and agree that I shall not recover any monetary benefits in connection with any challenge to my Release. 
  

 B-1 








 For Employees Age 40 or Older 
 Group Termination 
 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the
ADEA (“ADEA Waiver”). I also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised by this writing, as
required by the ADEA, that: (a) my ADEA Waiver does not apply to any rights or claims that arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release; (c) I have forty-five
(45) days to consider this Release (although I may choose to voluntarily sign it sooner); (d) I have seven (7) days following the date I sign this Release to revoke the ADEA Waiver; and (e) the ADEA Waiver will not be effective
until the date upon which the revocation period has expired unexercised, which will be the eighth day after I sign this Release. 
 I have received with this
Release a written disclosure of all of the information required by the ADEA, including without limitation a detailed list of the job titles and ages of all employees who were terminated in this group termination and the ages of all employees of the
Company in the same job classification or organizational unit who were not terminated, along with information on the eligibility factors used to select employees for the group termination and any time limits applicable to this group termination
program. 
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release
does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” I
hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims hereunder. 
 I acknowledge that to become effective, I must sign and return this Release to the Company so that it is received not later than forty-five (45) days following the date this Release and the ADEA disclosure form
is provided to me. 
  

			
	EXECUTIVE
		
	Name:	 	 
		
	Date:	 	 


  

 B-2 








 EXHIBIT C 
 RELEASE AGREEMENT (“RELEASE”) 
 I understand and agree
completely to the terms set forth in the Jazz Pharmaceuticals, Inc. Amended and Restated Executive Change in Control Severance Benefit Plan (the “Plan”). 
 I understand that this Release, together with the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with
regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 
 I hereby confirm my obligations under my Employee Confidential Information and Inventions Agreement with the Company. 
 I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for which I am
eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim. 
 In exchange for the consideration provided to me by this Release that I am not otherwise entitled to receive, I hereby generally and completely release Jazz Pharmaceuticals, Inc. and its current and former directors, officers, employees,
shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way
related to events, acts, conduct, or omissions occurring prior to my signing this Release. This general release includes, but is not limited to: (a) all claims arising out of or in any way related to my employment with the Company or the
termination of that employment; (b) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any
other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation,
emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the
federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, and the California Fair Employment and Housing Act (as amended). Nothing in this Release shall prevent me from challenging this Release by filing,
cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that I hereby acknowledge and agree that I shall
not recover any monetary benefits in connection with any challenge to my Release. 







 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as
follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her
settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims hereunder. 
 I acknowledge that to become effective, I must sign and return this Release to the Company so that it is received not later than fourteen (14) days following the
date it is provided to me. 
  

			
	EXECUTIVE
		
	Name:	 	 
		
	Date: