brennanemplagmt






1 EXECUTIVE EMPLOYMENT AGREEMENT This Executive Employment Agreement (this “Agreement”) is dated as of April 19, 2022, by and between Spectrum Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and Nora  Brennan (“Executive”). WHEREAS, the Company desires to employ Executive as Chief Financial Officer; and WHEREAS, the Company and Executive desire to enter into a written employment agreement to  reflect the terms upon which Executive shall provide services to the Company. NOW, THEREFORE, in consideration of the premises and agreements contained herein, and for  other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1. EMPLOYMENT/TERM. The Company hereby employs Executive to perform the duties and  responsibilities set forth below under Section 2 of this Agreement, and Executive hereby accepts  such employment, in each case on the terms and conditions set forth in this Agreement. The  term of employment under this Agreement shall have a term commencing on June 6, 2022, (the  “Effective Date”) unless Executive agrees to an earlier Effective Date and shall continue on an  “at will” basis thereafter until such is terminated by either Company or Executive (the “Term”),  unless earlier terminated pursuant to Section 4 of this Agreement. 2. POSITION AND DUTIES. a. Description of Executive’s Position, Duties, Authorities, and Responsibilities. Executive  shall serve as the Chief Financial Officer of the Company, subject to the direction of the  Chief Executive Officer. In such capacity, Executive shall (i) report to the Chief  Executive Officer, (ii) devote her full professional time and attention, best efforts, energy  and skills to the services required of her as an employee of the Company, except for paid  time off taken in accordance with the Company’s policies and practices, and subject to  the Company’s policies pertaining to reasonable periods of absence due to sickness,  personal injury or other disability; (iii) use her best efforts to promote the interests of the  Company; (iv) comply with all applicable governmental laws, rules and regulations and  with all of the Company’s policies, rules and regulations applicable to employees of the  Company; and (v) discharge her responsibilities in a diligent and faithful manner,  





 






2 consistent with sound business practices and in accordance with the Chief Executive  Officer’s directives. b. Performance of Duties. Executive hereby accepts such employment and agrees to render  the services described above in the manner described above. It is understood and agreed  that Executive may not engage in other business activities during the Term, whether or  not for profit or other pecuniary advantage; provided, however, that Executive may (i)  make financial investments which do not involve her active participation, (ii) participate in charitable, educational, religious, civic, or other similar organizations and activities, and (iii) with the prior written consent of the Board of Directors of the Company (the  “Board”), serve as an outside director on the board of directors of other corporations that are not affiliates or competitors of the Company or any of its affiliates, in any case to the  extent that such activities collectively do not hinder or interfere with the performance of  her duties under this Agreement, conflict with the policies of the Company concerning  conflicts of interest or conflict with the businesses of the Company or any of its affiliates  in any material way. For clarity, the Company hereby agrees that Executive may  continue to serve on the board of directors of Artios Pharma Limited. 3. COMPENSATION AND BENEFITS. a. Base Salary. As of the Effective Date, Executive’s base salary (the “Base Salary”) shall  be $450,000 USD per year payable in periodic installments in accordance with the  Company’s regular payroll practices as in effect from time to time. The Board or a duly  authorized committee thereof will review the Base Salary on an annual basis and may increase, but never decrease, the Base Salary from time to time based on merit or such  other considerations as the Board or a duly authorized committee thereof may deem  appropriate; provided, however, the Company makes no assurances that the Base Salary  will be increased during the Term. “Base Salary” shall mean the initial base salary or the  then-current base salary as later approved by the Board. b. Bonus. Executive shall be eligible to receive an annual cash bonus in an amount up to  50% of Executive’s Base Salary (such 50% of Executive’s Base Salary, the “Target  Bonus”) for the fiscal year for which the annual cash bonus is being paid, as determined  in the discretion of the Board or a duly authorized committee thereof, based on the  





 






3 performance of the Company and Executive relative to performance objectives or other  metrics as the Board or a duly authorized committee thereof may deem appropriate. For  the first calendar year in which this Agreement is effective, performance objectives or  other metrics shall be established within 30 days of the Effective Date of this Agreement.   Thereafter, performance objectives or other metrics shall be established within 60 days of  the commencement of the calendar year. c. Pro Rata Bonus. Notwithstanding any other provision in this Agreement to the contrary,  should Executive’s employment be terminated by the Company without Cause (as  defined below) or by Executive for Good Reason (as defined below), prior to the end of a  calendar year, then the Board shall pay Executive the pro rata amount of the Target  Bonus for such year based on the number of days Executive was employed by the  Company during the calendar year divided by 365 days (the “Pro Rata Bonus”). Such  Pro Rata Bonus shall be paid when bonuses are paid to other senior executives of the  Company and within two and one-half months following the end of the calendar year in  which Executive is terminated. d. Benefits and Vacation. Executive shall be eligible to participate in and receive the  benefits under any deferred compensation plan, health, life, accident and disability  insurance plans or programs, and any other employee benefit or fringe benefit plans or  arrangements that the Company makes available generally to other senior executives of  the Company, pursuant to the provisions of such plans, programs or arrangements as in  effect from time to time. Executive shall be entitled to vacation and sick days in  accordance with the policies of the Company for its employees generally, as in effect  from time to time. The benefits described in this Section 3.d. are hereinafter referred to  as the “Benefits”. e. Equity Incentive Compensation. Executive shall be eligible to receive grants, at the  discretion of the Board or a duly authorized committee thereof, under any long-term  equity-based incentive compensation plans established or maintained by the Company for  its senior executive officers, in each case subject to the terms and conditions of the applicable plans and award documents with respect to such grants. The grants described  in this Section 3.e. are hereinafter referred to as the “Equity Incentive Compensation”.   





 






4 f. Expenses. The Company shall pay or reimburse Executive for all reasonable, ordinary  and necessary business expenses incurred or paid by Executive during the Term in the  performance of Executive’s services under this Agreement in accordance with the  applicable policies and procedures of the Company as in effect from time to time, upon  the presentation of proper expense statements or such other supporting documentation as  the Company may reasonably require. g. Auto Allowance. Company shall pay an automotive allowance of $2,000 per month to  cover costs of business travel in a personal vehicle. 4. TERMINATION, OTHER THAN FOLLOWING A CHANGE OF CONTROL. a. General. Executive’s employment may be terminated by either party at any time and for  any reason; and upon termination of Executive’s employment, the Term shall end.  b. Resignation without Good Reason. Executive shall be required to give the Company at  least 60 days’ advance written notice (the “Resignation Notice Period”) of any voluntary  resignation of Executive’s employment hereunder (other than resignation for Good  Reason (as defined below), in which event the procedures under Section 5.c. shall apply). During the Resignation Notice Period, the Company in its sole discretion may elect to  accelerate Executive’s date of termination of employment, it being understood that any such termination shall still be treated as a voluntary resignation without Good Reason (as  defined below) for purposes of this Agreement. Even if Executive’s date of termination  is accelerated, Executive shall be paid her Base Salary, and shall receive Benefits capable  of being provided to persons who are not actively employed by the Company, as if she  had worked through the end of the Resignation Notice Period.  The Company reserves  the right to require Executive not to be in the offices of the Company or any of its  affiliates and/or not to undertake all or any of Executive’s duties and/or not to contact  clients, colleagues or advisors of the Company or any of its affiliates during all or part of  the Resignation Notice Period. During the Resignation Notice Period, Executive’s terms  and conditions of service and duties of loyalty and confidentiality to the Company shall remain in full force and effect and, during any such Resignation Notice Period, Executive  shall continue to perform as an employee in compliance with the terms of this Agreement 





 






5 and all other agreements applicable to Executive with respect to her service with the  Company or any of its affiliates. c. Death. Executive’s employment hereunder shall terminate automatically on the date of  her death. d. Disability. At the option of the Company, Executive’s employment hereunder may be  terminated immediately upon Disability (as defined below) of Executive. For purposes of  this Agreement, “Disability” means any physical or mental illness, impairment or  incapacity which, in the good faith determination of the Board, has prevented Executive  from performing the essential functions of her position hereunder for a period of 90 or  more consecutive days (or for shorter periods totaling 120 days) during any period of 12  consecutive months.   e. Termination for Cause. Notwithstanding any other provision of this Agreement, the  Company may, upon written notice, terminate Executive’s employment for Cause (as  defined below). For purposes of this Agreement, “Cause” means the occurrence of any  of the following by Executive: (i) fraud, misappropriation, embezzlement or acts of  similar dishonesty that can materially impact the Company, (ii) conviction of, or plea of  nolo contendere to, a felony, (iii) excessive use of alcohol or illegal use of drugs in the  workplace, (iv) gross negligence or intentional or willful misconduct by Executive in the  performance of her duties that the Company has notified Executive of, (v) breach of  Executive’s duty of loyalty to the Company or diversion or usurpation of corporate  opportunities properly belonging to the Company, (vi) the knowing breach of any  Company confidentiality agreement to which Executive is a party, (vii) willful disregard  of the Company’s written policies and procedures, (viii) act or omission that would  materially and adversely impact the business or reputation of the Company. If the  alleged basis for asserting “Cause” is capable of being corrected or mitigated, before  terminating Executive’s employment, the Company will give Executive written notice  and thirty (30) days within which to correct or mitigate the issue of concern.   f. Termination Without Cause. The Company may, at any time, upon written notice  terminate Executive’s employment without Cause. 





 






6 5. COMPENSATION UPON TERMINATION. Following any termination of Executive’s  employment (the date of such termination, “Termination Date”), the obligations of the Company  to pay or provide Executive with compensation and benefits under Section 3 shall immediately  cease, and the Company shall have no further obligations to Executive under this Agreement, except as otherwise required by law or provided for under this Section 5. a. Death or Disability.  If, during the Term, Executive’s employment is terminated (i) by  reason of Executive’s death or (ii) by the Company for Disability of Executive, the  Company shall pay to Executive (or to her estate or designated beneficiary in the event of  Executive’s death) (A) any unpaid Base Salary accrued through the Termination Date,  (B) any unpaid Benefits accrued through the Termination Date to which Executive is  entitled under any plans, programs or arrangements applicable to terminated employees  in which Executive participates, and (C) a lump sum amount equal to two years of  Executive’s Base Salary in effect as of the Termination Date; provided that, in the event  Executive is terminated by the Company for Disability during the Change of Control Tail  Period, such amount shall be paid monthly over a period of 24 months following such  termination. Executive shall also immediately vest in all options, restricted stock and  other Equity Incentive Compensation (as defined below), all of which shall be  immediately available to exercise during the periods provided in the applicable plans and  award documents granted to Executive. All payments under clause (C) of this Section  5.a. are conditioned upon Executive executing and delivering (and not revoking) within  90 days of the Termination Date a general waiver and release agreement in the form of  Exhibit A, attached, or in a form and with substance satisfactory to the Company, that is  no longer subject to revocation. If Executive is unable to execute and deliver such waiver  and release agreement due to death or Disability, then the waiver and release agreement  shall be executed and delivered by an authorized agent or representative of Executive  and/or Executive’s estate. The payments described in clauses (A) and (C) above shall be  made within 90 days (or by such earlier date as may be required by applicable law)  following the Termination Date, and the payments described in clause (B) above shall be  made in accordance with the provisions of the applicable plans, programs and  arrangements maintained by the Company with respect to such payments or as otherwise  required by applicable law. 





 






7 b. For Cause or Without Good Reason (not During the Change of Control Tail Period). If, during the Term (other than during the Change of Control Tail Period (as defined  below)), Executive’s employment is terminated (i) by the Company for Cause or (ii) by  Executive for any reason other than for Good Reason (as defined below), the Company  shall pay to Executive (A) any unpaid Base Salary accrued through the Termination Date  and (B) any unpaid Benefits accrued through the Termination Date to which Executive is  entitled under any plans, programs or arrangements applicable to terminated employees  in which Executive participates. The payments described in clause (A) above shall be  made within 90 days (or by such earlier date as may be required by applicable law) following the Termination Date, and the payments described in clause (B) above shall be  made in accordance with the provisions of the applicable plans, programs and  arrangements maintained by the Company with respect to such payments or as otherwise  required by applicable law. c. Without Cause or for Good Reason (not During the Change of Control Tail Period). If, during the Term (other than during the Change of Control Tail Period), Executive’s  employment is terminated (i) by the Company without Cause or (ii) by Executive for  Good Reason (as defined below), the Company shall pay to Executive (A) any unpaid  Base Salary accrued through the Termination Date, (B) any unpaid Benefits accrued  through the Termination Date to which Executive is entitled under any plans, programs or  arrangements applicable to terminated employees in which Executive participates, and  (C) the following severance benefits (the “Without Cause/For Good Reason Severance  Benefits”): (a) two years of Executive’s Base Salary in effect as of the Termination Date and two times (2x) the previous year’s Bonus, in each case paid as a lump sum (b) 18 months of Company-paid continued coverage (COBRA) for Executive and her eligible  dependents under the Company’s existing health and benefit plans.  As part of the  Without Cause/For Good Reason Severance Benefits, Executive shall also immediately vest in all options, restricted stock and other Equity Incentive Compensation (as defined  below), all of which shall be immediately available to exercise during the periods  provided in the applicable plans and award documents granted to Executive; provided,  that, notwithstanding the foregoing, with respect to any options, restricted stock or other  Equity Incentive Compensation that vest based on performance-based criteria 





 






8 (“Performance-Based Awards”), Executive shall vest in such Performance-Based Awards  as part of the Without Cause/For Good Reason Severance Benefits pro rata based on the  Executive’s target award for such Performance-Based Awards (irrespective of actual  performance) and based on the number of days Executive was employed by the Company during the applicable performance period for such Performance-Based Awards divided  by the total number of days in such performance period. All payments under clause (C)  of this Section 5.c. are conditioned upon Executive executing and delivering (and not  revoking) within 90 days of the Termination Date a general waiver and release agreement  in the form of Exhibit A, attached, or in a form and with substance satisfactory to the  Company, that is no longer subject to revocation; provided, further, that in order for Executive to terminate her employment for Good Reason (as defined below), (x)  Executive must furnish written notice to the Company setting forth the facts and  circumstances claimed to provide a basis for such resignation within 30 days following  the occurrence of such facts and circumstances, (y) the Company shall have 30 days after  its receipt of such written notice to cure such facts and circumstances in all material  respects (and if so cured, then Executive shall not be permitted to resign for Good Reason (as defined below) in respect thereof), and (z) Executive must actually terminate her employment within 30 days following the expiration of the Company’s cure period set  forth above. For purposes of this Agreement, “Good Reason” means the occurrence of  any of the following events, without the express consent of Executive, (1) a material  diminution in Executive’s Base Salary, (2) a material diminution in Executive’s title,  position, duties, authorities or responsibilities (other than temporarily while physically or  mentally incapacitated or as required by applicable law), (3) any material breach of this  Agreement by the Company, or (4) any relocation of Executive’s principal place of  employment of more than twenty-five miles from Philadelphia, Pennsylvania, (unless  Executive agrees to such relocation). The payments described in clauses (A) and (C) above shall be made within 90 days (or by such earlier date as may be required by  applicable law) following the Termination Date, and the payments described in clause  (B) above shall be made in accordance with the provisions of the applicable plans,  programs and arrangements maintained by the Company with respect to such payments or as otherwise required by applicable law. 





 






9 d. Termination During Change of Control Tail Period. In the event that Executive’s  employment is terminated by the Company or by Executive during the Change of Control Tail Period for any reason other than a termination by reason of Executive’s death or by  the Company for Disability of Executive, this Section 5 shall not apply, and the terms and  conditions of Section 6 shall govern with respect to any compensation payable to  Executive as a result of such termination.  For purposes of this Agreement, the “Change  of Control Tail Period” shall mean the 12 month period following the occurrence of a  Change of Control (as defined below). In no event shall Executive be entitled to  compensation both under this Section 5 and under Section 6. e. Equity Incentive Compensation. Except in circumstances where termination is (i) by  reason of Executive’s death or by the Company for Disability, (ii) by the Company  without Cause, (iii) by Executive for Good Reason, or (iv) during the Change of Control Tail Period and subject to Section 6, upon termination of Executive’s employment during  the Term, the Equity Incentive Compensation awarded to Executive shall forfeit or vest  in accordance with the terms of the applicable plans and award documents with respect to  such Equity Incentive Compensation, and shall be subject to such other terms and  conditions of such plans and award documents that may apply as a result of such  termination.      f. Benefits. Notwithstanding anything in this Section 5 to the contrary, the Benefits to  which Executive is entitled upon or by reason of the termination of her employment with  the Company (including during the Change of Control Tail Period) shall be subject to, and shall be governed by, the terms and conditions of the applicable plans, programs and  arrangements maintained by the Company with respect to such Benefits. g. Expiration of Term. Notwithstanding anything in this Section 5 to the contrary, the  expiration of the Term by itself shall not entitle Executive to receipt of any payments  under this Section 5. 6. CHANGE OF CONTROL.   a. Definition.  “Change of Control” shall have the meaning prescribed to such phrase (or, if  applicable, the phrase, “Change in Control”) in the 2009 Incentive Award Plan of the  Company, or the latest equity incentive award plan of the Company in effect from time to  





 






10 time.  The Board shall have full and final authority, which shall be exercised in its  discretion, to determine conclusively whether a Change of Control of the Company has  occurred pursuant to the above definition, and the date of the occurrence of such Change  of Control and any incidental matters relating thereto. b. Executive’s Rights Upon a Change of Control. If there should occur a Change of Control  of the Company (or any successor) and Executive’s employment is terminated by the  Company without Cause or Executive terminates employment with, Good Reason during  the Change of Control Tail Period, Executive shall receive the Without Cause/For Good  Reason Severance Benefits, as if she had been terminated without Cause or had  terminated for Good Reason under Section 5.c. of this Agreement; provided, that the two  years of Executive’s Base Salary in effect as of the Termination Date, payable as part of  the Without Cause/For Good Reason Severance Benefits, shall be paid monthly over a  period of 24 months following such termination; provided further that all equity awards  that would have been eligible to vest under Section 5.c. shall vest immediately upon  consummation of a Change of Control; and provided further that Executive shall vest in  all Performance-Based Awards as part of the Without Cause/For Good Reason Severance  Benefits upon consummation of a Change of Control pro rata based on the Executive’s  target award for such Performance-Based Awards (irrespective of actual performance)  and based on the number of days Executive was employed by the Company before the  Change of Control during the applicable performance period for such Performance-Based  Awards divided by the total number of days in such performance period. All of the  provisions of Section 5.c., including but not limited to the notice and cure provisions,  shall apply in like manner under this Section 6.b. 7. COOPERATION. Upon the receipt of reasonable notice from the Company (including outside  counsel), Executive agrees that while employed by the Company and thereafter, Executive will  respond and provide information with regard to matters in which Executive has knowledge as a  result of Executive’s employment with the Company, and will provide reasonable assistance to  the Company, its affiliates and their respective representatives in defense of all claims that may  be made against the Company or its affiliates, and will assist the Company and its affiliates in the  prosecution of all claims that may be made by the Company or its affiliates, to the extent that  such claims may relate to the period of Executive’s employment with the Company. Executive  





 






11 agrees to promptly inform the Company if Executive becomes aware of any lawsuit involving  such claims that may be filed or threatened against the Company or its affiliates. Executive also  agrees to promptly inform the Company (to the extent that Executive is legally permitted to do  so) if Executive is asked to assist in any investigation of the Company or its affiliates (or their  actions), regardless of whether a lawsuit or other proceeding has then been filed against the  Company or its affiliates with respect to such investigation, and shall not provide such assistance  unless legally required. Upon presentation of appropriate documentation, the Company shall pay  or reimburse Executive for all reasonable out-of-pocket travel, duplicating or telephonic  expenses incurred by Executive in complying with this Section 7. For the first five hours of  cooperation in any calendar month during the period of Cooperation, Executive shall provide the  specified Cooperation services without hourly reimbursement.  For each hour of Cooperation or  part thereof after five hours, in any calendar month, Company shall reimburse Executive at the  hourly rate determined by this fraction: (final Base Salary / 2,080 hours). 8. ARBITRATION. The parties hereby agree to submit all disputes, claims and controversies (“Claims”) between the parties or related to or arising out of their employment relationship  (except to the extent otherwise provided in that certain Employee Obligations Agreement, (the  “Employee Obligations Agreement”), or that certain Indemnification Agreement, (the  “Indemnification Agreement”)) to final, binding arbitration to the fullest extent permitted by law.  The Federal Arbitration Act., 9 U.S.C. § 1 et seq., shall govern the interpretation and  enforcement of this Section 8. The court and not the arbitrator will determine matters of  enforceability of this Section 8. a. Statute of Limitations. The statutory limitations period applicable to a Claim asserted  in a civil action shall apply to any such Claim asserted in any arbitration proceeding  under this Section 8. Arbitration is commenced for limitations purposes by  submitting the matter to the arbitral forum.   b. Individual Basis. All Claims that are subject to arbitration under this Section 8 must  and will take place on an individual basis only.   c. Venue. Binding arbitration under this Section 8 shall be conducted in California, unless  required by law to be conducted elsewhere, in which case it shall be conducted where  required by law. 





 






12 d. Applicable Rules. The arbitration proceeding, including discovery, shall be conducted in  accordance with the Federal Arbitration Act, the JAMS Policy on Employment  Arbitration Minimum Standards and the JAMS Employment Arbitration Rules and  Procedures then in effect (the “JAMS Rules”).  Executive understands that if she wishes to receive a copy of the JAMS Rules currently in effect, she may inform the Company in  writing, and the Company will provide them to him before she executes this Agreement.   Executive also understand that JAMS Rules are available online at  http://www.jamsadr.com/rules-employment-arbitration/. e. Arbitrator Selection. The arbitration shall be conducted before a neutral arbitrator  selected by all parties in accordance with JAMS Rules. The parties may also agree on an  arbitrator. f. Cost Allocation.  If required by applicable law, the Company shall pay all additional  costs peculiar to the arbitration to the extent such costs would not otherwise be incurred  in a court proceeding (for instance, the Company shall pay the arbitrator’s fees, and the  JAMS administration and filing fees, to the extent such fees exceed court filing fees).  g. Attorneys’ Fees and Costs.  Each party shall pay her or its own costs and attorneys’ fees except that the arbitrator shall award costs and attorneys’ fees to the prevailing party. h. Written Decision.  The arbitrator shall follow applicable substantive law and, within 30 days after the conclusion of the arbitration, issue a written opinion setting forth the  factual and legal bases for her or her decision. i. Acknowledgement.  EXECUTIVE UNDERSTANDS SHE IS GIVING UP HER RIGHT  TO A JURY TRIAL BY ENTERING INTO THIS AGREEMENT. EXECUTIVE UNDERSTANDS SHE IS GIVING UP HER RIGHT TO COMMENCE OR  PARTICIPATE IN A CLASS OR COLLECTIVE ACTION AND INSTEAD AGREES TO ARBITRATE ANY EMPLOYMENT-RELATED DISPUTE ON AN INDIVIDUAL  BASIS ONLY TO THE MAXIMUM EXTENT PERMITTED BY LAW. 9. CODE SECTION 409A. a. This Agreement is intended to comply with the requirements of Section 409A of the  Internal Revenue Code of 1986, as amended (“Section 409A”), including the exceptions  





 






13 thereto, and shall be construed and administered in accordance with such intent.  Notwithstanding any other provision of this Agreement, payments provided under this  Agreement may only be made upon an event and in a manner that complies with Section  409A or an applicable exemption. Any payments under this Agreement that may be  excluded from Section 409A either as separation pay due to an involuntary separation  from service or as a short-term deferral shall be excluded from Section 409A to the  maximum extent possible. For purposes of Section 409A, each separate payment or  installment payment provided under this Agreement shall be treated as a separate  payment. Any payments to be made under this Agreement in connection with a  termination of employment shall only be made if such termination of employment  constitutes a “separation from service” under Section 409A. Notwithstanding the  foregoing, the Company makes no representations that the payments and benefits  provided under this Agreement comply with Section 409A and in no event shall the  Company be liable for all or any portion of any taxes, penalties, interest or other expenses  that may be incurred by Executive on account of non-compliance with Section 409A.  b. Notwithstanding any other provision of this Agreement, if at the time of Executive’s termination of employment, she is a “specified employee,” determined in accordance  with Section 409A, any payments and benefits provided under this Agreement that  constitute “nonqualified deferred compensation” subject to Section 409A that are  provided to Executive on account of her separation from service shall not be paid until  the first payroll date to occur following the six-month anniversary of Executive’s termination date (“Specified Employee Payment Date”). The aggregate amount of any  payments that would otherwise have been made during such six-month period shall be  paid in a lump sum on the Specified Employee Payment Date and thereafter, any  remaining payments shall be paid without delay in accordance with their original  schedule. If Executive dies before the Specified Employee Payment Date, any delayed  payments shall be paid to Executive’s estate in a lump sum within one week of  Executive’s death.   c. To the extent required by Section 409A, each reimbursement or in-kind benefit provided  under this Agreement shall be provided in accordance with the following: (i) the amount  of expenses eligible for reimbursement, or in-kind benefits provided, during each  





 






14 calendar year cannot affect the expenses eligible for reimbursement, or in-kind benefits to  be provided, in any other calendar year; (ii) any reimbursement of an eligible expense  shall be paid to Executive on or before the last day of the calendar year following the  calendar year in which the expense was incurred; and (iii) any right to reimbursements or  in-kind benefits under this Agreement shall not be subject to liquidation or exchange for  another benefit. Any tax gross-up payments provided under this Agreement shall be paid  to Executive on or before December 31 of the calendar year immediately following the  calendar year in which Executive remits the related taxes.  d. Whenever in this Agreement a payment or benefit is conditioned on Executive’s  execution of a release of claims, such release must be executed and all revocation periods  shall have expired within 90 days after the Termination Date; failing which such payment or benefit shall be forfeited.  If such payment or benefit constitutes “nonqualified  deferred compensation” subject to Section 409A, and if such 90-day period begins in one  calendar year and ends in the next calendar year, the payment or benefit shall not be  made or commence before the second such calendar year, even if the release becomes  irrevocable in the first such calendar year. 10. GENERAL PROVISIONS. a. Notices. All notices, requests, demands, statements, reports and other communications  provided for by this Agreement shall be in writing (email being sufficient) and shall be  sent by (i) certified mail, return receipt requested, postage prepaid, (ii) nationally  recognized overnight delivery service, (iii) personal delivery or (iv) email. A notice shall  be deemed to be given (x) if notice is delivered by certified mail or nationally recognized  overnight delivery service, on the business day following the date of its mailing, (y) if  such notice is delivered personally, upon delivery, or (z) if such notice is sent by email,  upon sending. Each party may change her or its address for notices by giving notice in  accordance herewith. All notices shall be addressed and mailed or delivered to the  following addresses: If to the COMPANY: 157 Technology Dr. Irvine, CA 92618 





 






15 If to EXECUTIVE: b. Entire Agreement. This Agreement, the Employee Obligations Agreement, and the Indemnification Agreement constitute the entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all prior agreements, representations and understandings (whether written or oral) of the parties with respect to the subject matter hereof. c. Modification and Waiver. No amendment or variation of the terms of this Agreement shall be valid unless made in writing and signed by Executive and a duly authorized representative of the Company (other than Executive). A waiver of any term or condition of this Agreement shall not be construed as a general waiver by the Company.  If one or more provisions of this Agreement are held to be illegal or unenforceable under applicable law, such illegal or unenforceable provision(s) shall be limited or excluded from this Agreement to the minimum extent required so that this Agreement shall otherwise remain in full force and effect and enforceable in accordance with its terms. d. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its conflict of law principles, and any dispute in the meaning, effect or validity of this Agreement shall be resolved in accordance with the laws of the State of California. e. Assignment; Binding Effect. This Agreement is fully assignable and transferable by the Company, but any purported assignment or transfer by Executive is void. It is hereby agreed that Executive’s rights and obligations under this Agreement are personal and not assignable by Executive. This Agreement shall be binding upon and inure to the benefit of the heirs, legal representatives, successors and permitted assigns of the parties. EXECUTIVE HAS READ THIS AGREEMENT CAREFULLY AND UNDERSTANDS AND ACCEPTS THE OBLIGATIONS WHICH IT IMPOSES UPON EXECUTIVE WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO EXECUTIVE TO INDUCE EXECUTIVE TO SIGN THIS AGREEMENT. EXECUTIVE SIGNS THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE 402 Midland Avenue, Wayne, PA  19087 





 






16 UNDERSTANDING THAT THE COMPANY WILL RETAIN ONE  COUNTERPART AND THE OTHER COUNTERPART WILL BE RETAINED  BY EXECUTIVE. f. Injunctive Relief. Executive agrees that any breach of this Agreement will cause  irreparable harm to the Company for which damages would not be an adequate remedy,  and, therefore, to the fullest extent permitted by applicable law, the Company will be  entitled to injunctive relief with respect thereto in addition to any other remedies and without any requirement to post bond. g. Survival. This Agreement shall terminate upon the expiration of the Term; provided that  the provisions of Sections 5 through 10 shall survive termination of this Agreement and  termination of Executive’s employment regardless of the reason for such termination. h. Withholding. The Company may withhold from any and all amounts payable under this  Agreement or otherwise such federal, state and local taxes as may be required to be  withheld pursuant to applicable law. [Signature page follows] 





 






Signature Page to Executive Employment Agreement In witness whereof, parties have executed this Agreement as of the date first above written. COMPANY: Spectrum Pharmaceuticals, Inc. By: Jeffrey Vacirca; Chairman, Compensation Committee EXECUTIVE: Nora Brennan 





 






1 EXHIBIT A GENERAL RELEASE I, Nora Brennan, in consideration of and subject to the performance by Spectrum Pharmaceuticals, Inc.  (together with its subsidiaries and successors, the “Company”), of its obligations under the Executive Employment Agreement dated as of April __, 2022 (the “Agreement”), do hereby  release and forever discharge as of the date hereof the Company and its respective affiliates, subsidiaries  and direct or indirect parent entities and all present, former and future directors, officers, agents,  representatives, employees, successors and assigns of the Company and/or its respective affiliates,  subsidiaries and direct or indirect parent entities (collectively, the “Released Parties”) to the extent  provided below (this “General Release”).  The Released Parties are intended to be third-party  beneficiaries of this General Release, and this General Release may be enforced by each of them in  accordance with the terms hereof in respect of the rights granted to such Released Parties hereunder.   Terms used herein but not otherwise defined shall have the meanings given to them in the Agreement. 1. I understand that any payments or benefits paid or granted to me under the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I  was already entitled.  I understand and agree that I will not receive certain of the payments and benefits  specified in the Agreement unless I execute this General Release and do not revoke this General Release  within the time period permitted hereafter.  Such payments and benefits will not be considered  compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or  hereafter established by the Company or its affiliates. 2. Except as provided in paragraphs 4 and 5 below and except for the provisions of the Agreement which expressly survive the termination of my employment with the Company, I knowingly and  voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge  the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes  of action, cross-claims, counter claims, demands, debts, compensatory damages, liquidated damages,  punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any  nature whatsoever in law and in equity, both past and present (through the date that this General Release  becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the  Company or any of the Released Parties which I, my spouse, or any of my heirs, executors,  administrators or assigns, may have, which arise out of or are connected with my employment with, or  





 






2 my separation or termination from, the Company (including, but not limited to, any allegation, claim or  violation, arising under:  Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of  1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers  Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of  1990; the Americans with Disabilities Act Amendments Act of 2008; the Family and Medical Leave Act  of 1993; the Labor Management Relations Act; the Worker Adjustment Retraining and Notification Act;  the Employee Retirement Income Security Act of 1974; the Sarbanes-Oxley Act of 2002; the California  Worker Adjustment Retraining and Notification Act; the California Fair Employment and Housing Act; the California Labor Code; the California Family Rights Act; the California Industrial Welfare  Commission Wage Orders; the California Constitution; the California Government Code; any applicable  Executive Order Programs; the Fair Labor Standards Act; or their state or local counterparts; or under  any other federal, state or local civil or human rights law, or under any other local, state, or federal law,  regulation or ordinance, as well as any amendments to any of the foregoing; or under any public policy,  contract or tort, or under common law; or arising under any policies, practices or procedures of the  Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress,  defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these  matters) (all of the foregoing collectively referred to herein as the “Claims”). 3. I represent that I have made no assignment or transfer of any right, claim, demand, cause of  action, or other matter covered by paragraph 2 above. 4. I agree that this General Release does not waive or release any rights or claims that I may have  under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this  General Release.  I acknowledge and agree that my separation from employment with the Company in  compliance with the terms of the Agreement shall not serve as the basis for any claim or action  (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 5. I agree that I hereby waive all rights to sue or obtain equitable, remedial or punitive relief from  any or all Released Parties of any kind whatsoever in respect of any Claim, including, without  limitation, reinstatement, back pay, front pay, and any form of injunctive relief.  Notwithstanding the  above, I further acknowledge that I am not waiving and am not being required to waive any right that  cannot be waived under law, including the right to file an administrative charge or participate in an  administrative investigation or proceeding; provided, however, that I disclaim and waive any right to  





 






3 share or participate in any monetary award resulting from the prosecution of such charge or  investigation or proceeding.  Additionally, I am not waiving (i) any right to the severance benefits to  which I am entitled under the Agreement, (ii) any claim relating to directors’ and officers’ liability  insurance coverage or any right of indemnification under the Company’s organizational documents or  otherwise, (iii) claims under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended,  (iv) claims related to reimbursement of ordinary and reasonable business expenses in accordance with  the Company’s policies in effect from time to time, and (v) claims relating to any outstanding equity- based award on the date of termination in accordance with the terms thereof. 6. In signing this General Release, I acknowledge and intend that it shall be effective as a bar to  each and every one of the Claims hereinabove mentioned or implied.  I expressly consent that this  General Release shall be given full force and effect according to each and all of its express terms and  provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state or  local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and  unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or  implied.  I acknowledge and agree that this waiver is an essential and material term of this General  Release and that without such waiver the Company would not have agreed to the terms of the  Agreement.  I further agree that in the event I should bring a Claim seeking damages against the  Company, or in the event I should seek to recover against the Company in any Claim brought by a  governmental agency on my behalf, this General Release shall serve as a complete defense to such  Claims to the maximum extent permitted by law.  I further agree that I am not aware of any pending  claim of the type described in paragraph 2 above as of the execution of this General Release. 7. I agree that neither this General Release, nor the furnishing of the consideration for this General  Release, shall be deemed or construed at any time to be an admission by the Company, any Released  Party or myself of any improper or unlawful conduct. 8. I agree that if I violate this General Release by suing the Company or the other Released Parties,  I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including  reasonable attorneys’ fees. 9. I agree that this General Release and the Agreement are confidential and agree not to disclose  any information regarding the terms of this General Release or the Agreement, except to my immediate  





 






4 family and any tax, legal or other counsel that I have consulted regarding the meaning or effect hereof or  as required by law, and I will instruct each of the foregoing not to disclose the same to anyone. 10. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my  attorney) from responding to any inquiry about this General Release or its underlying facts and  circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory  Authority (FINRA), any other self-regulatory organization or any governmental entity. 11. I hereby acknowledge that Sections 4 through 10 of the Agreement shall survive my execution of  this General Release. 12. I represent that I am not aware of any claim by me other than the claims that are released by this  General Release.  I acknowledge that I may hereafter discover claims or facts in addition to or different  than those which I now know or believe to exist with respect to the subject matter of the release set forth  in paragraph 2 above and which, if known or suspected at the time of entering into this General Release,  may have materially affected this General Release and my decision to enter into it.  I SPECIFICALLY AND FREELY WAIVE ANY AND ALL RIGHTS I MAY HAVE UNDER  CALIFORNIA CIVIL CODE SECTION 1542, WHICH STATES: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR  DOES NOT KNOW OR SUSPECT TO EXIST IN HER OR HER FAVOR AT THE TIME OF  EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE  MATERIALLY AFFECTED HER OR HER SETTLEMENT WITH THE DEBTOR. IN WAIVING THE PROTECTIONS OF CIVIL CODE SECTION 1542, I ACKNOWLEDGE  AWARENESS OF THE ACTUAL FACTS AND CIRCUMSTANCES SURROUNDING THE  AGREEMENT UPON WHICH THIS RELEASE IS GIVEN.  TO EFFECT A FULL AND COMPLETE  WAIVER AND RELEASE, I ASSUME THE RISK THAT I MAY LATER DISCOVER FACTS  DIFFERENT FROM THOSE I NOW KNOW OR BELIEVE TO BE TRUE. 13. Notwithstanding anything in this General Release to the contrary, this General Release shall not  relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company  or by any Released Party of the Agreement after the date hereof. 14. Whenever possible, each provision of this General Release shall be interpreted in, such manner  as to be effective and valid under applicable law, but if any provision of this General Release is held to  





 






5 be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction,  such invalidity, illegality or unenforceability shall not affect any other provision or any other  jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if  such invalid, illegal or unenforceable provision had never been contained herein. BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 1. I HAVE READ IT CAREFULLY; 2. I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT  RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION  IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF  1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES  ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS  AMENDED; 3. I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 4. I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT  AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE  CHOSEN NOT TO DO SO OF MY OWN VOLITION; 5. I HAVE HAD AT LEAST 45 DAYS FROM THE DATE OF MY RECEIPT OF THIS  RELEASE TO CONSIDER IT, AND THE CHANGES MADE SINCE MY RECEIPT OF THIS  RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT  RESTART THE REQUIRED 45 DAY PERIOD; 6. I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS  RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR  ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 7. I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND  WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT;  AND 8. I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE  AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING  SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 





 






6 SIGNED: DATED: NAME: Nora Brennan