Document:

EX-10.2

 Exhibit 10.2 
 

 
 HORIZON PHARMA PUBLIC LIMITED COMPANY

 EQUITY LONG TERM INCENTIVE PROGRAM 

EFFECTIVE DATE: MARCH 23, 2015 

1. Purpose. The Horizon Pharma Public Limited Company Equity Long Term Incentive Program (the “Program”)
is for purposes of providing performance-based share incentive compensation to individuals who make a significant contribution to the performance of Horizon Pharma Public Limited Company (the “Company”) and its Affiliates and
who are selected for participation in the Program (the “Designated Participants”). The Program objectives are to: (a) provide additional motivation to the Designated Participants to focus on our long-term corporate
performance, (b) provide an additional retention incentive for Designated Participants, and (c) further align the interests of the Designated Participants with those of our shareholders. Defined terms not explicitly defined in this Program
document including its attached APPENDIX A but defined in the Equity Incentive Plan will have the same definitions as in the Equity Incentive Plan. 

2. How Awards Are Earned Under the Program. 

(a) General Program Description. The Program provides for the grant on the Effective Date of Restricted Stock Unit
Awards under the Equity Incentive Plan (“RSU Awards”) to the Designated Participants which will vest based on the Company’s level of attainment of performance goals as specified below in Section 2(d) (the
“Performance Goals”) during the period of time that begins on March 23, 2015 and ends on March 22, 2018 (the “Performance Period”). The deemed level of attainment of the Performance Goals
during the Performance Period will be measured as of three separate measurement dates occurring on December 22, 2017, March 22, 2018 and June 22, 2018 (the “Measurement Dates”). To the maximum extent
possible, the RSU Awards are intended to qualify as “Performance Stock Awards” under the Equity Incentive Plan. Certain portions of the RSU Awards are subject to approval of amendments to the Equity Incentive Plan by
shareholders at the Company’s Annual General Meeting in May 2015, as specified on the attached APPENDIX B. 

(b) Maximum Award; Actual Award. The maximum portion of the RSU Award that may vest and the corresponding maximum
number of Ordinary Shares that may be issued in settlement of an RSU Award granted to any Designated Participant will in no event exceed his or her maximum number of Restricted Stock Units specified on the attached APPENDIX B
under the “Maximum RSU Award” column next to the name of such Designated Participant (the “Maximum Award”). The Actual Award earned by and payable to each Participant under the Program will be determined by the
Committee in accordance with the terms of this Program. 
 (c) Designated Participants. The Program’s
Designated Participants as of the Effective Date are selected by the Committee and are as specified on APPENDIX B. Except as provided in this Program, no Employee has any right (i) to be a Designated Participant in the
Program, (ii) to continue as a Designated Participant, or (iii) to be granted an RSU Award or to earn an Actual Award under the Program. Following the Effective Date, the Committee may select additional Employees as Designated Participants
and Appendix B will be updated to reflect any such subsequent designation. 
 (d) Performance Goals and Performance
Period. Actual Award amounts will be calculated based upon the Committee’s determination of the Company’s deemed level of attainment of the Performance Goals during the Performance Period pursuant to the following criteria: 

(i) 1/3rd of the Actual Award that may be earned will be determined based
upon the level of TSR attained during the portion of the Program Period which in each case commences on the Effective Date and ends on each of the three Measurement Dates, provided that in no event will the total Actual Award exceed the Maximum
Award. VWAP will be used on the Effective Date and on each Measurement Date to 

  
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calculate the TSR. In order for any Actual Award to be earned under the Program and, for any portion of an RSU Award to vest, the TSR during the portion of the Program Period that precedes a
Measurement Date must be greater than or equal to the Performance Period Threshold Goal or a Change in Control must occur prior to expiration of the Program Period. The VWAP on March 23, 2015 was $21.50, so the minimum VWAP that is required on
each Measurement Date for the Performance Period Threshold Goal to be attained is as follows (assuming no dividends or distributions are made or declared in respect of the Company’s ordinary shares during the Program Period): 

 

			
	Measurement Date		
Minimum VWAP Required for Performance

Threshold Goal to be Attained
  

	 December 22, 2017
		$31.58
	 March 22, 2018
		$32.70
	 June 22, 2018
		$33.86

 If a Change in Control does not occur prior to expiration of the Program Period and the VWAP on each of the three
Measurement Dates is less than the minimum VWAP so that the Performance Period Threshold Goal is not attained, no Actual Award will be payable under the Program so that the Program will automatically terminate without payment to any Designated
Participant and each RSU Award granted under the Program will automatically be forfeited upon expiration of the Program Period. 

(ii) As of each Measurement Date, in each case with respect to the 1/3rd of
the Target RSU Award set forth on the attached APPENDIX B with respect to a Designated Participant, the determined percentage of 1/3rd of the Target RSU Award which will vest and
become an Actual Award for such Designated Participant will correspond to the applicable corresponding percentage level as determined pursuant to the table below based upon the level of TSR attained during the portion of the Program Period which in
each case commences on the Effective Date and ends on the applicable Measurement Date (assuming no dividends or distributions are made or declared in respect of the Company’s ordinary shares during such portion of the Program Period) with
linear interpolation between the 15% to 60% performance levels: 
  

			
	 Program Period TSR Attained

Through Measurement Date
		
% of 1/3rd of Target RSU Award

Earned
  

	 Less than 15%
		0%
	 15%
		100%
	 30%
		200%
	 45%
		300%
	 60%
		400%

 Provided, however, that if a Change in Control occurs at any time before expiration of the Program Period, for purposes
of calculating Actual Awards, the TSR that will be deemed attained in respect of any Measurement Date that has not occurred prior to such Change in Control will be based on the level of TSR attained from the Effective Date through the date of the
Change in Control, provided that if the Change in Control occurs on or before March 22, 2016, the TSR level deemed attained prior to the Change in Control will be annualized and extrapolated to estimate the level of TSR that would have been
attained as of March 22, 2016 and such deemed level of TSR will be used to calculate the portion of the PSU Award that is an Actual Award that may vest. In order for the RSU Award to vest and be earned following any Change in Control the
Designated Participant will still be generally required to remain in Continuous Service through the expiration of the Performance Period (March 22, 2018) unless the earlier termination of Continuous Service is due to death, Disability, or due to a
termination without Cause or a Good Reason resignation. The foregoing provisions supersede anything to the contrary set forth in the Equity Incentive 

  
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Plan that would otherwise provide for vesting acceleration of RSU Awards in connection with a Corporate Transaction or otherwise. 

Any portion of the RSU Award which does not vest upon expiration of the Program Period will be immediately forfeited. 

(iii) Any Designated Participant who switches from full-time to part-time employment during the Performance Period will have his
or her determined Actual Award reduced on a pro-rata basis based upon the applicable percentage of full-time equivalent employment that was in effect on an aggregate basis during the Performance Period. 

(iv) The determined Actual Award amount that will become earned by and payable to a Designated Participant is subject to
(A) attainment of the Performance Period Threshold Goals during the Program Period or the occurrence of a Change in Control prior to the expiration of the Program Period and (B) the Designated Participant’s satisfaction of the
Continuous Service requirements set forth in Section 2(e) below. 
 (e) Continuous Service. 

(i) Except as otherwise provided below in Section 2(e)(ii) or 2(e)(iii), in order to earn an Actual Award under the
Program, a Designated Participant must remain in Continuous Service through the expiration of the Performance Period. Except as otherwise provided below in Section 2(e)(ii) or 2(e)(iii), if a Designated Participant terminates Continuous Service
for any reason prior to the expiration of the Performance Period, the Designated Participant will forfeit the right to vest in any portion of the RSU Award so that it will be forfeited in its entirety. 

(ii) If prior to the expiration of the Performance Period, a Designated Participant terminates Continuous Service due to either
(A) a termination by the Company without Cause, or (B) the Designated Participant’s resignation for Good Reason, and in each case the Designated Participant provides the Company and its Affiliates with an effective release of claims
in a form acceptable to the Company (the “Release”) no later than the earlier of: (i) August 10, 2018 or (ii) fifty five (55) days following a Change in Control that occurs prior to the expiration of the
Program Period, the Designated Participant will still be eligible to earn a reduced pro-rata Actual Award subject to the Company’s attainment of the Performance Goals during the Program Period (or the earlier occurrence of a Change in Control).
The reduced pro-rata Actual Award will be calculated based upon the number of full months that the Participant was employed during the Performance Period (as measured by reference to anniversaries of employment occurring on the 22nd of a month)
divided by the total number of months in the Performance Period; provided, however, that if a Change in Control occurs prior to expiration of the Performance Period, then for the purposes of such pro-rata calculation, the Performance Period will be
deemed to have been the period commencing on the Program’s effective date and ending on the date of the Change in Control. Accordingly, if the Change in Control precedes the termination without Cause or Good Reason resignation of Continuous
Service, no pro-rata reduction will apply. 
 (iii) If prior to the expiration of the Performance Period, a Designated
Participant terminates Continuous Service due to either the Designated Participant’s death or Disability and the Designated Participant or his or her beneficiaries (as applicable) provide the Company and its Affiliates with a Release no later
than the earlier of: (i) August 10, 2018, or (ii) fifty five (55) days following a Change in Control that occurs prior to the expiration of the Program Period, the Designated Participant will still be eligible to earn an Actual
Award subject to the Company’s attainment of the Performance Goals during the Program Period (or the earlier occurrence of a Change in Control). 

(iv) RSU Awards and Actual Awards granted under this Program are not subject to any vesting acceleration provisions that may be
set forth in a Designated Participant’s individual employment agreement or offer letter, the Company’s Severance Benefit Plan, or any other agreement, plan or policy 

  
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applicable to the Designated Participant that otherwise may provide for vesting of RSU Awards or Actual Awards in connection with a termination of the Designated Participant’s employment or
otherwise (collectively, “Company Severance Plans”) or any vesting acceleration provision set forth in the Equity Incentive Plan that would otherwise apply in connection with a Corporate Transaction or otherwise. As a
condition to a Designated Participant’s acceptance of any RSU Award or Actual Award under this Program, such Designated Participant thereby expressly acknowledges and agrees that the terms of the Company Severance Plans and the vesting
acceleration provisions set forth in the Equity Incentive Plan do not apply to such RSU Award or Actual Award. 
 3. Other Program
Provisions. 
 (a) Determination of Actual Awards. Assessment of actual performance, determination of the
Actual Awards and any payment in respect of Actual Awards will be subject to: (i) the Committee’s certification in writing that the applicable Performance Goals and other terms of the Program have been met; provided, however, that such
certification requirement shall not be applicable in the event of a Change in Control that occurs prior to expiration of the Program Period. 

(b) Payment of Actual Awards. With respect to all Actual Awards which are earned under the Program, ordinary shares
will be issued to the Designated Participants in settlement of the Actual Awards at the times specified in this Section 3(b), except to the extent the Company elects to provide for earlier issuance of the shares as permitted by
Section 3(h). In the event of any Change in Control which occurs prior to any Scheduled Issuance Date, the Company reserves the right to cancel the Designated Participant’s right to receive any issuance of shares in settlement of an Actual
Award and provide in substitution thereof that the Designated Participant will have the right to receive a cash payment, with the amount of such cash payment determined with respect to the value of the shares underlying the Actual Award as of
immediately prior to such Change in Control (the “Substitute Cash Payment”). The Substitute Cash Payment amount will be determined and final as of immediately prior to the Change in Control, and will not be further adjusted
to reflect any subsequent changes in the value of the Company’s ordinary shares following the Change in Control. The Substitute Cash Payment will be made to the Designated Participant on the same date that shares would otherwise have been
issued to the Participant in settlement of the Actual Award as provided in this Program. 
 (i) Subject to the provisions in
Section 3(b)(iii), 3(b)(iv), 3(b)(v) and 3(b)(vi) below, with respect to any Designated Participant who is designated as an “Executive” of the attached Appendix B, ordinary shares will be issued in settlement of 50% of the total
number of RSUs subject to the Actual Award on March 22, 2019 and ordinary shares will be issued in settlement of the remaining 50% of the total number of RSUs subject to the Actual Award on March 22, 2020. 

(ii) Subject to the provisions set forth in Sections 3(b)(iii), 3(b)(iv), 3(b)(v) and 3(b)(vi) below, with respect to any
Designated Participant who is designated as a “Non-Executive” on the attached Appendix B, ordinary shares will be issued in settlement of 50% of the total number of RSUs subject to the Actual Award as soon as practicable following the
Certification Date and in no event later than August 31, 2018 and ordinary shares will be issued in settlement of the remaining 50% of the total number of RSUs subject to the Actual Award on March 22, 2019. 

(iii) In the event of a Designated Participant’s Separation from Service, death or Disability which occurs prior to the
completion of the Performance Period, ordinary shares will be issued in settlement of the Actual Award as soon as practicable following the Certification Date and in no event later than August 31, 2018. In the event of a Change in Control which
occurs prior to the completion of the Performance Period, ordinary shares will be issued in settlement of the Actual Award as soon as practicable following June 22, 2018 and in no event later than August 31, 2018. In the event that both a
Change in Control and the Designated Participant’s Separation from Service, death or Disability which occurs prior to the completion of the Performance Period, ordinary shares will be issued in settlement of the Actual Award as soon as
practicable following June 22, 2018 and in no event later than August 31, 2018. 

  
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 (iv) In the event of a Designated Participant’s Separation from Service, death
or Disability which occurs following the completion of the Performance Period and prior to the Scheduled Issuance Dates, or a Change in Control which occurs following the completion of the Performance Period and prior to the Scheduled Issuance
Dates, any ordinary shares not previously issued in settlement of the Actual Award for the Designated Participant will instead be issued within the 60 day period following the Designated Participant’s Separation from Service, death or
Disability or Change in Control, as applicable. 
 (v) Notwithstanding anything to the contrary set forth herein, in no event
will Program Payments be made prior to the effectiveness (or deemed effectiveness) of the Release. If Program Payments are to be made pursuant to Section 3(b)(iv) and the Release could become effective in more than one taxable year depending on
the timing of provision, the Release will not be deemed effective until the latest taxable year in which it could be effective. 

(vi) Notwithstanding anything to the contrary set forth herein, if the Designated Participant is a “Specified
Employee” within the meaning of Section 409A as of the date of his or her Separation from Service, any Program Payments made in settlement of the Actual Award in connection with any Separation from Service will not occur any earlier than
six months and one day following the date of such Separation from Service to the extent necessary to avoid adverse tax consequences to the Designated Participant under Section 409A. 

(c) Withholding. The Company will withhold from the shares to be issued in settlement of an Actual Award a number
of shares with a then current fair market value equal to the amount required to be withheld in satisfaction of any federal, state or local tax withholding obligation relating to the payment of the Actual Award as necessary to satisfy the
Company’s required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income; provided, however that
if a Substitute Cash Payment will be made in settlement of an Actual Award withholding shall instead be applied to such cash payment amount. 

(d) No Employment or Service Rights. Nothing in the Program or any instrument executed pursuant to the Program will
(i) confer upon any Designated Participant any right to continue to be retained in the employ or service of the Company or any other Affiliate, (ii) change the at-will employment relationship between the Company or any other Affiliate and
a Designated Participant, or (iii) interfere with the right of the Company or any other Affiliate to discharge any Designated Participant or other person at any time, with or without Cause, and with or without advance notice. 

(e) Program Administration. The Committee will be responsible for all decisions and recommendations regarding
Program administration and retains final authority regarding all aspects of Program administration, interpretation of the Program, the resolution of any disputes, and application of the Program in any respect to a Designated Participant. All
determinations and interpretations made by the Committee in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons. The Committee may, without notice, amend, suspend or terminate the Program;
provided, however, that no such action may adversely affect any Designated Participant unless (i) expressly provided by the Committee; and (ii) with the consent of the Designated Participant, unless such action is necessary to
comply with any applicable law, regulation or rule. 
 (f) Recovery. Any Program Payments will be subject to
recoupment in accordance with any clawback policy that the Company adopts pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or is otherwise adopted pursuant to the
Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law. To the extent not inconsistent with such listing standards rules, applicable law or such claw-back policy, any recoupment period applicable to Program Payments will
be measured from the date of determination of the Actual Award rather than the date the Program 

  
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Payment is made. No recovery of compensation under such a clawback policy will be an event giving rise to a right to resign for “good reason” or “constructive termination” (or
similar term) under any plan of or agreement with the Company. 
 (g) Validity. If any provision of the Program
is held invalid, void, or unenforceable, the same will not affect, in any respect whatsoever, the validity of any other provision of the Program. 

(h) Section 280G. 

(i) If any payment or benefit a Designated Participant would receive from the Company pursuant to this Program or otherwise
(“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but 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 Designated Participant’s receipt, on an after-tax basis, of the greater economic benefit 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 manner that results in the greatest economic benefit for the
Designated Participant. If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata. 

(ii) In the event it is subsequently determined by the Internal Revenue Service that some portion of the Reduced Amount as
determined pursuant to clause (x) in the preceding paragraph is subject to the Excise Tax, the Designated Participant agrees to promptly return to the Company a sufficient amount of the Payment so that no portion of the Reduced Amount is
subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount is determined pursuant to clause (y) in the preceding paragraph, the Designated Participant will have no obligation to return any portion of the Payment pursuant to
the preceding sentence. 
 (iii) The accounting firm engaged by the Company for general tax compliance purposes as of the day
prior to the effective date of the Change in Control shall perform the foregoing calculations unless otherwise determined by the Company. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity
or group effecting the Change in Control, the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm
required to be made hereunder. 
 (iv) The Company shall use commercially reasonable efforts to cause the accounting firm
engaged to make the determinations hereunder to provide its calculations, together with detailed supporting documentation, within fifteen (15) calendar days after the date on which the Designated Participant’s right to a Payment is
triggered or such other time as requested by the Company. 
 (i) Section 409A. All Program Payments are
intended to satisfy the requirements for an exemption from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4) to the maximum extent such exemption is available. To the extent Program Payments are subject to
Section 409A, Program Payments are intended to be paid on the earlier of (i) a “specified date,” or (ii) an objectively determinable and nondiscretionary date applicable in the event the Designated Participant’s death
or Disability, or Separation from Service or a Change in Control event that occurs prior to such “specified date”, (iii) the earliest of the Designated Participant’s death or Disability, or Separation from Service or a Change in
Control event that occurs following such “specified date,” in each case in compliance with the requirements of Section 409A. The Company reserves the discretion to provide for acceleration of Program Payments to the maximum extent
permitted by Treasury Regulations Section 1.409A-3(j)(4), including in connection with any Change in Control. 

  
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Program Payments are intended to qualify for an exemption from application of Section 409A or comply with its requirements to the extent necessary to avoid adverse personal tax consequences
to the Designated Participants under Section 409A, and any ambiguities herein shall be interpreted accordingly. 
 (j)
Governing Plan Document. Except as expressly provided herein, the Program is subject to all the provisions of the Equity Incentive Plan and is further subject to all interpretations, amendments, rules and regulations that
may from time to time be promulgated and adopted by the Committee, the Board or the Company pursuant to the Equity Incentive Plan. Except as expressly provided herein, in the event of any conflict between the provisions of this Program and those of
the Equity Incentive Plan, the provisions of the Equity Incentive Plan will control unless necessary for compliance with Section 162(m) of the Code or as necessary to avoid adverse personal tax consequences to the Designated Participants under
Section 409A. With respect to RSU Awards and Actual Awards, the terms of this Program supersede any provisions set forth in any Company Severance Plans and also supersede any provisions set forth in the Equity Incentive Plan related to
applicable treatment in the event of a Corporate Transaction. 

  
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 APPENDIX A 

EQUITY LONG TERM INCENTIVE PROGRAM 

DEFINITIONS 

(a) “Actual Award” means the number of Restricted Stock Units finally determined and awarded to a
Designated Participant under the Program based on the Committee’s determination of the level of achievement of the Performance Goals. 

(b) “Cause” for the Company or an Affiliate to terminate a Designated Participant’s employment shall
mean the occurrence of any of the following events, as determined reasonably and in good faith by the Committee: 
 (1) the
Designated Participant’s gross negligence or willful failure to substantially perform his duties and responsibilities to the Company or Affiliate or willful and deliberate violation of a Company or Affiliate policy; 

(2) the Designated Participant’s conviction of a felony or the Designated Participant’s commission of any act of
fraud, embezzlement or dishonesty against the Company or Affiliate or involving moral turpitude that is likely to inflict or has inflicted material injury on the business of the Company or an Affiliate, to be determined by the sole discretion of the
Committee; 
 (3) the Designated Participant’s unauthorized use or disclosure of any proprietary information or trade
secrets of the Company or an Affiliate or any other party that the Designated Participant’ owes an obligation of nondisclosure as a result of the Designated Participant’s relationship with the Company or an Affiliate; and 

(4) the Designated Participant’s willful and deliberate breach of any employment obligations that causes material injury to
the business of the Company or an Affiliate. 
 (c) “Certification Date” means the date on which the
Committee certifies whether the Performance Goals have been met under the Program. The Certification Date will be no earlier than March 22, 2018 and no later than August 1, 2018. 

(d) “Change in Control” means the first to occur of (1) a change in the ownership of the Company,
(2) a change in the effective control of the Company or (3) a change in the ownership of a substantial portion of the Company’s assets as specified below. For such purposes, a change in ownership of the Company occurs on the date on
which any one person or more than one person acting as a group acquires ownership of shares of the Company that, together with shares held by such person or group constitutes more than 50% of the total fair market value or total voting power of the
shares of the Company. A change in the effective control of the Company occurs on the date on which either (i) a person or more than one person acting as a group acquires during any 12-month period ownership of shares of the Company possessing
50% or more of the total voting power of the shares of the Company or (ii) a majority of members of the Company’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a
majority of the members of the Company’s board of directors prior to the date of the appointment or election. A change in the ownership of a substantial portion of assets occurs on the date on which any one person or more than one person acting
as a group acquires assets from the Company that have a total gross fair market value equal to or more than 75% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. The
determination of whether a Change in Control has occurred will be determined in a manner consistent with the requirements of Section 409A. 

(e) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

 (f) “Committee” means the Compensation Committee of the
Board of Directors of the Company. 
 (g) “Disability” means the Designated Participant is unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or is, by reason
of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering Company employees. The determination of whether a Designated Participant has incurred a Disability will be determined in a manner consistent with the requirements of Section 409A. 

(h) “Effective Date” means the effective date of this Program, which is March 23, 2015. 

(i) “Equity Incentive Plan” means the Horizon Pharma Public Limited Company 2014 Equity Incentive Plan,
as may be amended. 
 (j) “Employer” means the corporation which employs the Designated Participant and
that, together with the Company, is treated as a single employer with the Company under Internal Revenue Code Section 414(b) or (c). 

(k) “Good Reason” for a Designated Participant to resign employment shall mean the occurrence of any of
the following events without the Designated Participant’s consent: 
 (1) a reduction in the Designated
Participant’s duties, authority, or responsibilities relative to the duties, authority, or responsibilities in effect immediately prior to such reduction, including by way of example, having the same title, duties, authority and
responsibilities at a subsidiary level following a Change in Control; 
 (2) the relocation of the Designated
Participant’s primary work location to a point more than fifty (50) miles from the Designated Participant’s work location as of the Effective Date that requires a material increase in Designated Participant’s one-way driving
distance; and 
 (3) a reduction by the Company or an Affiliate of the Designated Participant’s base compensation (which
includes base salary and short-term and long-term target bonus opportunity), if any, as in effect on the Effective Date. 
 Provided, however that,
such resignation by the Designated Participant shall only be deemed for Good Reason pursuant to the foregoing definition if (i) the Company is given written notice from the Designated Participant within sixty (60) days following the first
occurrence of the condition that the Designated Participant considers to constitute Good Reason describing the condition and the Company or the Affiliate employing the Designated Participant, as applicable, fails to satisfactorily remedy such
condition within thirty (30) days following such written notice, and (ii) the Designated Participant terminates employment within thirty (30) days following the end of the period within which the Company or Affiliate was entitled to
remedy the condition constituting Good Reason but failed to do so. 
 (l) “Performance Period Threshold
Goal” means the TSR, if any, during the Program Period as measured on any Measurement Date which is greater than or equal to 15%. 

(m) “Program Payment” means an issuance of shares in settlement of an Actual Award or a Substitute Cash
Payment as provided in Section 3(b). 

 (n) “Program Period” means the period commencing
March 23, 2015 and ending on June 22, 2018, the last Measurement Date of the Program. 
 (o) “RSU Award
Agreement” means the Restricted Stock Unit Agreement in the form approved by the Committee for the purpose of granting RSU Awards under the Program and the Equity Incentive Plan. 

(p) “Scheduled Issuance Dates” means the default dates applicable for issuance of shares in settlement of
an Actual Award as provided in Sections 3(b)(i) and 3(b)(ii) with respect to a Designated Participant. 
 (q)
“Section 409A” means Section 409A of the Code, including regulations and other guidance thereunder, and any state law of similar effect. 

(r) “Separation from Service” means a termination of service with the Employer of the Designated
Participant. In all cases, whether a Separation from Service has occurred shall be determined by the Committee in accordance with Code Section 409A. Except in the case of a bona fide leave of absence as provided below, a Designated Participant
is deemed to have incurred a Separation from Service if the Employer and the Designated Participant reasonably anticipated that the level of services to be performed by the Designated Participant after a date certain, whether as an employee or in a
consulting capacity, would be reduced to 20% or less of the average services rendered by the Designated Participant during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding periods
during which the Designated Participant was on a bona fide leave of absence. A Designated Participant who is absent from work due to military leave, sick leave, or other bona fide leave of absence shall incur a Separation from Service on the first
date immediately following the later of: (i) the six month anniversary of the commencement of the leave, or (ii) the expiration of the Designated Participant’s right, if any, to reemployment under statute or contract. 

(s) “TSR” means the percentage change in the price of the Company’s ordinary shares on a compounded
annualized basis plus the dollar value of dividends and distributions made or declared divided by the closing price of the Company’s ordinary shares on the record date of the dividends and distributions. 

(t) “VWAP” means the trailing 20-trading-day volume weighted average price of the Company’s ordinary
shares as reported on Nasdaq.EX-10.4

 Exhibit 10.4 

EXECUTIVE EMPLOYMENT 

AGREEMENT BY AND BETWEEN 

HORIZON PHARMA, INC., HORIZON PHARMA USA, INC. AND 

BRIAN BEELER 
 This
Executive Employment Agreement (hereinafter referred to as the “Agreement”), is entered into by and between Horizon Pharma, Inc., a Delaware corporation, and its wholly owned subsidiary, Horizon Pharma USA, Inc., a Delaware
corporation, each having a principal place of business at 520 Lake Cook Road, Suite 520, Deerfield, IL 60015, (hereinafter referred to together as the “Company”) and Brian Beeler (hereinafter referred as to the
“Executive”). The terms of this Agreement shall be effective commencing May 7, 2015 (the “Effective Date”) 

RECITALS 
 WHEREAS,
the Company desires assurance of the continued association and services of the Executive in order to continue to retain the Executive’s experience, skills, abilities, background and knowledge, and is willing to continue to engage the
Executive’s services on the terms and conditions set forth in this Agreement; and 
 WHEREAS, Executive desires to be in the
continued employ of the Company, and is willing to accept such continued employment on the terms and conditions set forth in this Agreement. 

AGREEMENT 
  

	1.	Employment. 

 1.1 Term. The Company hereby agrees to continue to employ the
Executive, and the Executive hereby accepts continued employment by the Company, upon the terms and conditions set forth in this Agreement. The Executive originally commenced employment with the Company in January 2013. Executive’s employment
shall be governed under the terms set forth in this Agreement beginning on the Effective Date and shall continue until it is terminated pursuant to Section 4 herein (hereinafter referred to as the “Term”). 

1.2 Title. From and after the Effective Date the Executive will have the title of Executive Vice President, General Counsel (such
position held by Executive during such period is hereinafter referred to as “EVP GC”) and Executive shall continue to serve in such other capacity or capacities commensurate with his position as EVP GC as the President
and CEO of the Company may from time to time prescribe. 
 1.3 Duties. The Executive shall do and perform all services, acts or
things necessary or advisable to manage and conduct the business of the Company and shall have the authority and responsibilities which are generally associated with the position of EVP GC including being responsible for the Company’s legal
affairs and compliance. The Executive shall report to the President and CEO. 

 1.4 Policies and Practices. The employment relationship between the Parties shall be
governed by this Agreement and the policies and practices established by the Company and the Board of Directors (hereinafter referred to as the “Board”). In the event that the terms of this Agreement differ from or are in
conflict with the Company’s policies or practices or the Company’s Employee Handbook, this Agreement shall control. 
 1.5
Location. The Executive shall perform the services the Executive is required to perform pursuant to this Agreement in the headquarters office for the Company in the Deerfield, Illinois area. The Company may from time to time require the
Executive to travel temporarily to other locations outside of the Deerfield, Illinois area in connection with the Company’s business. 
  

	2.	Loyalty of Executive. 

 2.1 Loyalty. During the Executive’s employment
by the Company, the Executive shall devote the Executive’s business energies, interest, abilities and productive time to the proper and efficient performance of Executive’s duties under this Agreement. Subject to the prior written consent
of the President and CEO, the Executive is permitted to serve on the board of directors of one other company, so long as the other company does not compete with the Company.  

2.2 Exclusive Employment. Except with the prior written consent of the Chief Executive Officer, Executive shall not, during the term of
this Agreement, undertake or engage in any other employment, occupation or business enterprise, other than ones in which Executive is a passive investor. Executive may engage in any civic and not-for-profit activities so long as such activities do
not materially interfere with the performance of his duties hereunder or present a conflict of interest with the Company. 
 2.3
Agreement not to Participate in Company’s Competitors. During the Term of this Agreement, the Executive agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by Executive to be
adverse or antagonistic to the Company, its business or prospects, financial or otherwise or in any company, person or entity that is, directly or indirectly, in competition with the business of the Company or any of its affiliates. Notwithstanding
the foregoing, Executive may invest and/or maintain investments in any public or private entity up to an amount of 2% of an entity’s fully diluted shares and on a passive basis. 

 

	3.	Compensation to Executive. 

 3.1 Base Salary. The Company shall pay the
Executive a base salary at the initial annualized rate of three hundred seventy five thousand dollars ($375,000.00) per year, subject to standard deductions and withholdings, or such higher rate as may be determined from time to time by the Board or
the compensation committee thereof (hereinafter referred to as the “Base Salary”). Such Base Salary shall be paid in accordance with the Company’s standard payroll practice. Payments of salary installments shall be made
no less frequently than once per month. Executive’s Base 

 
Salary will be reviewed annually each December and Executive shall be eligible to receive a salary increase (but not decrease) annually in an amount to be determined by the Board or the
compensation committee thereof in its sole and exclusive discretion. Once increased, the new salary shall become the Base Salary for purposes of this Agreement and shall not be reduced without the Executive’s written consent. Any material
reduction in the Base Salary of the Executive, without his written consent, may be deemed Good Reason as set forth in and subject to Section 4.5.2 of this Agreement. 

3.2 Discretionary Bonus. Provided the Executive meets the conditions stated in this Section 3.2, the Executive shall be eligible
for an annual discretionary bonus (hereinafter referred to as the “Bonus”) with a target amount of fifty percent (50%) of the Executive’s Base Salary, subject to standard deductions and withholdings, based on the
Board’s determination, in good faith, and based upon the Executive’s individual achievement and company performance objectives as set by the Board or the compensation committee thereof, of whether the Executive has met such performance
milestones as are established for the Executive by the Board or the compensation committee thereof, in good faith, in consultation with the Executive (hereinafter referred to as the “Performance Milestones”). The Performance
Milestones will be based on certain factors including, but not limited to, the Executive’s performance and the Company’s financial performance. The Executive’s Bonus target will be reviewed annually and may be adjusted by the Board or
the compensation committee thereof in its discretion, provided however, that the Bonus target may only be materially reduced upon Executive’s written consent. The Executive must be employed on the date the Bonus is awarded to be eligible for
the Bonus, subject to the termination provisions thereof. The Bonus shall be paid during the calendar year following the performance calendar year. 

3.3 Equity Awards.  

3.3.1 Prior Equity Grants. All Company equity awards previously granted to Executive shall continue in effect from and following the
Effective Date in accordance with their existing terms. Executive may be eligible to receive additional grants of Company equity awards in the sole discretion and subject to the approval of the Board. 

3.3.2 Additional PSU Award. On March 23, 2015 you were granted a performance restricted stock unit award pursuant to and subject
to the terms of the Horizon Pharma Public Limited Company 2014 Equity Incentive Plan (“2014 Equity Incentive Plan”) and Equity Long Term Incentive Program (the “Equity LTIP”) with a target award level
of 33,000 stock units and a maximum award level of 132,000 stock units (the “Original PSU Award”) with the portion of the Original PSU Award exceeding the target award level subject to and contingent upon shareholder approval
of the proposed amendments to the 2014 Equity Incentive Plan at the Horizon Pharma Public Limited Company 2015 Annual General Meeting to be held on May 6, 2015 as set forth in Proposal 2 of the definitive proxy statement filed by Horizon Pharma
Public Limited Company with the Securities and Exchange Commission on April 7, 2015 (the “Shareholder Approval Requirement”). On the Effective Date the Executive will be granted an additional award of performance
restricted stock units (“Additional PSU  

 
Award”) pursuant to and subject to the terms of the 2014 Equity Incentive Plan, the Equity LTIP and compliance with applicable securities laws. The Additional PSU Award will
have a target award level of 153,000 stock units and a maximum award level of 612,000 stock units so that when combined with the Original PSU Award, the Executive’s total target performance stock unit award granted under the Equity LTIP will be
in respect of 186,000 stock units with a maximum award level of 744,000 stock units. The Additional PSU Award will be subject to all the terms and conditions of the Equity LTIP. Grant of the portion of the Additional PSU Award which exceeds the
153,000 target award level is subject to and contingent upon satisfaction of the Shareholder Approval Requirement. 
 3.3.3 Legal
Review. Upon the Executive’s submission of appropriate itemized proof and verification of reasonable and customary legal fees incurred by the Executive in obtaining legal advice associated with the review, preparation, approval, and
execution of this Agreement, the Company shall pay for up to $10,000.00 of such legal fees subject to receipt of appropriate proof and verification of such legal fees no later than sixty (60) days of receipt of an invoice for legal services
from the Executive and/or his attorneys. To be eligible for reimbursement, the invoice must be submitted no later than ninety (90) days after the legal fees are incurred. 

3.4 Changes to Compensation. The Executive’s compensation may be changed from time to time by mutual agreement of the Executive
and the Company. In the event that the Executive’s base salary is materially decreased without his written consent, said decrease will be Good Reason for the Executive to terminate the Agreement as set forth in and subject to Section 4.5.2
of this Agreement. 
 3.5 Taxes. All amounts paid under this Agreement to the Executive by the Company will be paid less applicable
tax withholdings and any other withholdings required by law or authorized by the Executive. 
 3.6 Benefits. The Executive shall, in
accordance with Company policy and the terms of the applicable plan documents, be eligible to participate in benefits under any executive benefit plan or arrangement which may be in effect from time to time and made available to the Company’s
executives or key management employees, provided, however, that the Executive shall be entitled to at least four (4) weeks of paid vacation annually. 
  

	4.	Termination. 

 4.1 Termination by the Company. The Executive’s
employment with the Company may be terminated only under the following conditions: 
 4.1.1 Termination for Death or Disability. The
Executive’s employment with the Company shall terminate effective upon the date of the Executive’s death or “Complete Disability” (as defined in Section 4.5.1), provided, however, that this Section 4.1.1 shall in no way
limit the Company’s obligations to provide such reasonable accommodations to the Executive and/or his heirs as may be required by law. 

 4.1.2 Termination by the Company For Cause. The Company may terminate the Executive’s
employment under this Agreement for “Cause” (as defined in Section 4.5.3) by delivery of written notice to the Executive specifying the Cause or Causes relied upon for such termination, provided that such notice is delivered within
two (2) months following the occurrence or discovery of any event or events constituting “Cause”. Any notice of termination given pursuant to this Section 4.1.2 shall effect termination as of the date of the notice or such date
as specified in the notice. The Executive shall have the right to appear before the CEO before any termination for Cause becomes effective and binding upon the Executive. 

4.1.3 Termination by the Company Without Cause. The Company may terminate the Executive’s employment under this Agreement at any
time and for any reason or no reason subject to the requirements set out in Section 4.4 of this Agreement. Such termination shall be effective on the date the Executive is so informed or as otherwise specified by the Company, pursuant to notice
requirements set forth in Section 6 of this Agreement. 
 4.2 Termination By The Executive. The Executive may terminate his
employment with the Company at any time and for any reason or no reason, including, but not limited, to the following conditions: 

4.2.1 Good Reason. The Executive may terminate his employment under this Agreement for “Good Reason” (as defined below in
Section 4.5.2) by delivery of written notice to the Company specifying the Good Reason relied upon by the Executive for such termination in accordance with the requirements of such section. 

4.2.2 Without Good Reason. The Executive may terminate the Executive’s employment hereunder for other than Good Reason upon thirty
(30) days written notice to the Company. 
 4.3 Termination by Mutual Agreement of the Parties. The Executive’s employment
pursuant to this Agreement may be terminated at any time upon a mutual agreement in writing of the Parties. Any such termination of employment shall have the consequences specified in such mutual agreement. 

4.4 Compensation to Executive Upon Termination. In connection with any termination of the Executive’s employment for any reason,
the Executive or the Executive’s estate, as applicable, shall be entitled to any amounts payable to the Executive or the Executive’s beneficiaries subject to and accordance with the terms of the Company’s employee welfare benefit
plans or policies (excluding any severance pay). 
 4.4.1 Death or Complete Disability. If the Executive’s employment shall be
terminated by death or Complete Disability as provided in Section 4.1.1, the Company shall pay to Executive, and/or Executive’s heirs, all earned but unpaid Base Salary, any earned but unpaid discretionary bonuses for any prior period at
such time as bonuses would have been paid if the Executive remained employed, all accrued but unpaid business expenses, and all accrued but unused vacation time earned through the 

 
date of termination at the rate in effect at the time of termination (hereinafter referred to as the “Accrued Amounts”), less standard deductions and withholdings. The
Executive shall also be eligible to receive a pro-rated bonus for the year of termination, as determined by the Board or the Compensation Committee of the Board based on actual performance and the period of the year he was employed (hereinafter
referred to as the “Pro-rata Bonus”), less standard deductions and withholdings, to be paid as a lump sum within thirty (30) days after the date of termination. 

4.4.2 With Cause or Without Good Reason. If the Executive’s employment shall be terminated by the Company for Cause, or if the
Executive terminates employment hereunder without Good Reason, the Company shall pay the Executive’s Base Salary, accrued but unpaid business expenses and accrued and unused vacation benefits earned through the date of termination at the rate
in effect at the time of termination, less standard deductions and withholdings. 
 4.4.3 Without Cause or For Good Reason. 

(i) Not in Connection With a Change in Control. If the Company terminates the Executive’s employment without Cause or the
Executive terminates his employment for Good Reason, and Section 4.4.3(ii) below does not apply, the Company shall pay the Accrued Amounts subject to standard deductions and withholdings, to be paid as a lump sum no later than thirty
(30) days after the date of termination. In addition, subject to the limitations stated in this Agreement and upon the Executive’s furnishing to the Company an executed waiver and release of claims (the form of which is attached hereto as
Exhibit A) (the “Release”) within the applicable time period set forth therein, but in no event later than forty-five days following termination of employment and permitting such Release to become effective in accordance with
its terms (the “Release Effective Date”), and subject to Executive entering into no later than the Release Effective Date a non-competition agreement to be effective during the Severance Period (as defined below),
substantially similar to Section 2.3, and continuing to abide by its terms during the Severance Period, the Executive shall be entitled to: 

(a) the equivalent of the Executive’s Base Salary in effect at the time of termination will continue to be paid for a period of
twelve (12) months following the date of termination (hereinafter referred to as the “Severance Period”), less standard deductions and withholdings, to be paid during the Severance Period according to the Company’s
regular payroll practices, subject to any delay in payment required by Section 4.6 in connection with the Release Effective Date; and 

(b) in the event the Executive timely elects continued coverage under COBRA, the Company will continue to pay the same portion of
Executive’s COBRA health insurance premium as the percentage of health insurance premiums that it paid during the Executive’s employment, including any amounts that Company paid for benefits to the qualifying family members of the
Executive, following the date of termination up until the earlier of either (i) the last day of the Severance Period or, (ii) the date on which the Executive begins full-time employment with another company or business entity which offers
comparable health insurance coverage to the 

 
Executive (such period, the “COBRA Payment Period”). Notwithstanding the foregoing, if the Company determines, in its sole discretion, that the Company cannot provide the
COBRA premium benefits without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof pay Executive a taxable
cash amount, which payment shall be made regardless of whether the Executive or his qualifying family members elect COBRA continuation coverage (the “Health Care Benefit Payment”). The Health Care Benefit Payment shall be
paid in monthly or bi-weekly installments on the same schedule that the COBRA premiums would otherwise have been paid to the insurer. The Health Care Benefit Payment shall be equal to the amount that the Company otherwise would have paid for COBRA
insurance premiums (which amount shall be calculated based on the premium for the first month of coverage), and shall be paid until the expiration of the COBRA Payment Period. 

(ii) In Connection With a Change in Control. If the Company (or its successor) terminates the Executive’s employment without
Cause or the Executive terminates his employment for Good Reason within the period commencing ninety (90) days immediately prior to a Change in Control of the Company and ending eighteen (18) months immediately following a Change in
Control of the Company (as defined in Section 4.5.4 of this Agreement), the Executive shall receive the Accrued Amounts subject to standard deductions and withholdings, to be paid as a lump sum no later than thirty (30) days after the date
of termination. In addition, subject to the limitations stated in this Agreement and upon the Executive’s furnishing to the Company (or its successor) an executed Release within the applicable time period set forth therein, but in no event
later than forty-five days following termination of employment and permitting such Release to become effective in accordance with its terms, and subject to Executive entering into no later than the Release Effective Date a non-competition agreement
to be effective during the Severance Period, substantially similar to Section 2.3, and continuing to abide by its terms during the Severance Period, then in lieu of (and not additional to) the benefits provided pursuant to Section 4.4.3(i)
above, the Executive shall be entitled to: 
 (a) the equivalent of the Executive’s Base Salary in effect at the time of
termination will continue to be paid during the Severance Period, less standard deductions and withholdings, to be paid during the Severance Period according to the Company’s regular payroll practices, subject to any delay in payment required
by Section 4.6 in connection with the Release Effective Date; 
 (b) Executive’s target Bonus in effect at the time of
termination, or if none, the last target Bonus in effect for Executive, less standard deductions and withholdings, to be paid in a lump sum within ten (10) days following the later of (i) the Release Effective Date, or (ii) the
effective date of the Change in Control; and 
 (c) in the event the Executive timely elects continued coverage under COBRA, the
Company will continue to pay the same portion of Executive’s COBRA health insurance premium as the percentage of health insurance premiums that it paid during the Executive’s employment, including any amounts that

 
Company paid for benefits to the qualifying family members of the Executive, following the date of termination until the expiration of the COBRA Payment Period. Notwithstanding the foregoing, if
the Company determines, in its sole discretion, that the Company cannot provide the COBRA premium benefits without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the
Public Health Service Act), the Company shall in lieu thereof pay Executive the Health Care Benefit Payment, which payment shall be made regardless of whether the Executive or his qualifying family members elect COBRA continuation coverage. The
Health Care Benefit Payment shall be paid in monthly or bi-weekly installments on the same schedule that the COBRA premiums would otherwise have been paid to the insurer. The Health Care Benefit Payment shall be equal to the amount that the Company
otherwise would have paid for COBRA insurance premiums (which amount shall be calculated based on the premium for the first month of coverage), and shall be paid until the expiration of the COBRA Payment Period. 

(iii) No Duplication of Benefits. For the avoidance of doubt, in no event will Executive be entitled to benefits under
Section 4.4.3(i) and Section 4.4.3(ii). If Executive commences to receive benefits under Section 4.4.3(i) due to a qualifying termination prior to a Change in Control and thereafter becomes entitled to benefits under
Section 4.4.3(ii), any benefits previously provided to Executive under Section 4.4.3(i) shall offset the benefits to be provided to Executive under Section 4.4.3(ii) and shall be deemed to have been provided to Executive pursuant to
Section 4.4.3(ii). 
 4.4.4 Equity Award Acceleration. 

(i) In Connection With a Change in Control. In the event that the Executive’s employment is terminated without Cause or for Good
Reason within the ninety (90) days immediately preceding or during the eighteen (18) months immediately following a Change in Control of the Company (as defined in Section 4.5.4 of this Agreement), the vesting of the Option, the RSU
Award and any other time-based vesting Company equity awards granted to Executive shall be fully accelerated such that on the effective date of such termination (or, if later, the date of the Change in Control) one hundred percent (100%) of the
equity award shares granted to Executive prior to such termination shall be fully vested and immediately exercisable, if applicable, by the Executive. Treatment of the Original PSU Award and Additional PSU Award will in all cases be governed solely
by the terms of the Equity LTIP. 
 (ii) Release and Waiver. Any equity vesting acceleration pursuant to this Section 4.4.4
shall be conditioned upon and subject to the Executive’s delivery to the Company of a fully effective Release in accordance with the terms specified by Section 4.4.3 hereof and such vesting acceleration benefit shall be in addition to the
benefits provided by Section 4.4.3 hereof. 
 4.5 Definitions. For purposes of this Agreement, the following terms shall have
the following meanings: 

 4.5.1 Complete Disability. “Complete Disability” shall mean the
inability of the Executive to perform the Executive’s duties under this Agreement, whether with or without reasonable accommodation, because the Executive has become permanently disabled within the meaning of any policy of disability income
insurance covering employees of the Company then in force. In the event the Company has no policy of disability income insurance covering employees of the Company in force when the Executive becomes disabled, the term “Complete Disability”
shall mean the inability of the Executive to perform the Executive’s duties under this Agreement, whether with or without reasonable accommodation, by reason of any incapacity, physical or mental, which the Board, based upon medical advice or
an opinion provided by a licensed physician, determines to have incapacitated the Executive from satisfactorily performing all of the Executive’s usual services for the Company, with or without reasonable accommodation, for a period of at least
one hundred eighty (180) days during any twelve (12) month period that need not be consecutive. 
 4.5.2 Good Reason.
“Good Reason” for the Executive to terminate the Executive’s employment hereunder shall mean the occurrence of any of the following events without the Executive’s consent: 

(i) a material reduction in the Executive’s duties, authority, or responsibilities relative to the duties, authority, or
responsibilities in effect immediately prior to such reduction, including by way of example, having the same title, duties, authority and responsibilities at a subsidiary level following a Change in Control; 

(ii) the relocation of the Executive’s primary work location to a point more than fifty (50) miles from the Executive’s
current work location set forth in Section 1.5 that requires a material increase in Executive’s one-way driving distance; 

(iii) a material reduction by the Company of the Executive’s base salary or annual target Bonus opportunity, without the written
consent of the Executive, as initially set forth herein or as the same may be increased from time to time pursuant to this Agreement; and 

(iv) a material breach by the Company of Section 1.2 of this Agreement. 

Provided, however that, such termination by the Executive shall only be deemed for Good Reason pursuant to the foregoing definition if (i) the Company is
given written notice from the Executive within sixty (60) days following the first occurrence of the condition that he considers to constitute Good Reason describing the condition and the Company fails to satisfactorily remedy such condition
within thirty (30) days following such written notice, and (ii) the Executive terminates employment within thirty (30) days following the end of the period within which the Company was entitled to remedy the condition constituting
Good Reason but failed to do so. 
 4.5.3 Cause. “Cause” for the Company to terminate Executive’s
employment hereunder shall mean the occurrence of any of the following events, as 

 
determined reasonably and in good faith by the Board or a committee designated by the Board: 

(i) the Executive’s gross negligence or willful failure to substantially perform his duties and responsibilities to the Company
or willful and deliberate violation of a Company policy; 
 (ii) the Executive’s conviction of a felony or the Executive’s
commission of any act of fraud, embezzlement or dishonesty against the Company or involving moral turpitude that is likely to inflict or has inflicted material injury on the business of the Company, to be determined by the sole discretion of the
Company; 
 (iii) the Executive’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company
or any other party that the Executive owes an obligation of nondisclosure as a result of the Executive’s relationship with the Company; and 

(iv) the Executive’s willful and deliberate breach of the obligations under this Agreement that causes material injury to the
business of the Company. 
 4.5.4 Change in Control. For purposes of this Agreement, “Change in Control”
means: (i) a sale of all or substantially all of the assets of the Company; (ii) a merger or consolidation in which the Company is not the surviving entity and in which the holders of the Company’s outstanding voting stock immediately
prior to such transaction own, immediately after such transaction, securities representing less than fifty percent (50%) of the voting power of the entity surviving such transaction or, where the surviving entity is a wholly-owned subsidiary of
another entity, the surviving entity’s parent; (iii) a reverse merger in which the Company is the surviving entity but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue of the merger into other
property, whether in the form of securities of the surviving entity’s parent, cash or otherwise, and in which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such
transaction, securities representing less than fifty percent (50%) of the voting power of the Company or, where the Company is a wholly-owned subsidiary of another entity, the Company’s parent; or (iv) an acquisition by any person,
entity or group (excluding any employee benefit plan, or related trust, sponsored or maintained by the Company or subsidiary of the Company or other entity controlled by the Company) of the beneficial ownership of securities of the Company
representing at least seventy-five percent (75%) of the combined voting power entitled to vote in the election of Directors; provided, however, that nothing in this paragraph shall apply to a sale of
assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company. 
 4.6 Application of
Internal Revenue Code Section 409A. Notwithstanding anything to the contrary set forth herein, any payments and benefits provided under this Agreement (the “Severance Benefits”) that constitute “deferred
compensation” within 

 
the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and other guidance thereunder and any state law of
similar effect (collectively “Section 409A”) shall not commence in connection with Executive’s termination of employment unless and until Executive has also incurred a “separation from service” (as such term is
defined in Treasury Regulation Section 1.409A-1(h) (“Separation From Service”), unless the Company reasonably determines that such amounts may be provided to Executive without causing Executive to incur the additional
20% tax under Section 409A. 
 It is intended that each installment of the Severance Benefits payments provided for in this Agreement
is a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the Severance Benefits set forth in this Agreement satisfy, to the greatest extent
possible, the exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if the Company (or, if applicable, the successor entity thereto) determines
that the Severance Benefits constitute “deferred compensation” under Section 409A and Executive is, on the termination of service, a “specified employee” of the Company or any successor entity thereto, as such term is
defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section 409A, the timing of the Severance Benefit payments shall be delayed until
the earlier to occur of: (i) the date that is six months and one day after Executive’s Separation From Service, or (ii) the date of Executive’s death (such applicable date, the “Specified Employee Initial Payment
Date”), the Company (or the successor entity thereto, as applicable) shall (A) pay to Executive a lump sum amount equal to the sum of the Severance Benefit payments that Executive would otherwise have received through the Specified
Employee Initial Payment Date if the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this Section and (B) commence paying the balance of the Severance Benefits in accordance with the applicable payment
schedules set forth in this Agreement. 
 Notwithstanding anything to the contrary set forth herein, Executive shall receive the Severance
Benefits described above, if and only if Executive duly executes and returns to the Company within the applicable time period set forth therein, but in no event more than forty-five days following Separation From Service, the Company’s standard
form of release of claims in favor of the Company (attached to this Agreement as Exhibit A) (the “Release”) and permits the release of claims contained therein to become effective in accordance with its terms (such latest
permitted date, the “Release Deadline”). If the severance benefits are not covered by one or more exemptions from the application of Section 409A and the Release could become effective in the calendar year
following the calendar year in which Executive separates from service, the Release will not be deemed effective any earlier than the Release Deadline. Notwithstanding any other payment schedule set forth in this Agreement, none of the Severance
Benefits will be paid or otherwise delivered prior to the effective date (or deemed effective date) of the Release. Except to the extent that payments may be delayed until the Specified Employee Initial Payment Date pursuant to the preceding
paragraph, on the first regular payroll pay day following the effective date of the Release, the Company will pay 

 
Executive the Severance Benefits Executive would otherwise have received under the Agreement on or prior to such date but for the delay in payment related to the effectiveness of the Release,
with the balance of the Severance Benefits being paid as originally scheduled. 
 The severance benefits are intended to qualify for an
exemption from application of Section 409A or comply with its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly. 

4.7 Application of Internal Revenue Code Section 280G. If any payment or benefit Executive would receive pursuant to 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 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 Executive’s receipt, on an after-tax basis, of the greater economic benefit 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 manner that results in the greatest economic
benefit for Executive. If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata. 

In the event it is subsequently determined by the Internal Revenue Service that some portion of the Reduced Amount as determined pursuant to
clause (x) in the preceding paragraph is subject to the Excise Tax, Executive agrees to promptly return to the Company a sufficient amount of the Payment so that no portion of the Reduced Amount is subject to the Excise Tax. For the avoidance
of doubt, if the Reduced Amount is determined pursuant to clause (y) in the preceding paragraph, Executive will have no obligation to return any portion of the Payment pursuant to the preceding sentence. 

Unless Executive and the Company agree on an alternative accounting firm, the accounting firm engaged by the Company for general tax
compliance purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group
effecting the Change in Control, the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm required
to be made hereunder. 
 The Company shall use commercially reasonable efforts to cause the accounting firm engaged to make the
determinations hereunder to provide its calculations, together 

 
with detailed supporting documentation, to Executive and the Company within fifteen (15) calendar days after the date on which Executive’s right to a Payment is triggered (if requested
at that time by Executive or the Company) or such other time as requested by Executive or the Company. 
 4.8 Indemnification Agreements.
Concurrently with the execution of this Agreement, the Company and the Executive shall enter into indemnification agreements, copies of which are attached hereto as Exhibit B-1 and Exhibit B-2. 

4.9 Confidential Information and Invention Assignment Agreement. The Executive has previously executed the Company’s Confidential
Information and Invention Assignment Agreement the terms of which shall continue to govern the terms of Executive’s employment following the Effective Date, and a copy of which is attached as Exhibit C. 

4.10 No Mitigation or Offset. The Executive shall not be required to seek or accept other employment, or otherwise to mitigate damages,
as a condition to receipt of the Severance Benefits, and the Severance Benefits shall not be offset by any amounts received by the Executive from any other source, except to the extent that the Executive’s right the benefits described in
Sections 4.4.3(i)(b) or 4.4.3(ii)(c), as applicable, are terminated by reason of the Executive obtaining full-time employment with another company or business entity which offers comparable health insurance coverage. 

 

	5.	Assignment and Binding Effect. 

 This Agreement shall be binding upon the
Executive and the Company and inure to the benefit of the Executive and the Executive’s heirs, executors, personal representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of the
Executive’s duties under this Agreement, neither this Agreement nor obligations under this Agreement shall be assignable by the Executive. This Agreement shall be binding upon and inure to the benefit of the Company and its successors, assigns
and legal representatives, provided that the Agreement may only be assigned to an acquirer of all or substantially all of the Company’s assets. Any such successor of the Company will be deemed substituted for the Company under the terms of this
Agreement for all purposes. For this purpose, “successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of
the assets or business of the Company. 
  

	6.	Notice. 

 For the purposes of this Agreement, notices, demands, and all other
forms of communication provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered or (unless otherwise specified) mailed by registered mail, return receipt requested, postage prepaid, or by
confirmed facsimile, addressed as set forth below, or to such other address as any party may have furnished to the other in 

 
writing in accordance herewith, except that notices of address shall be effective only upon receipt, as follows: 

If to the Company: 
 Horizon
Pharma, Inc. 
 520 Lake Cook Road, Suite 520 

Deerfield, IL 60015 
 Attention:
Timothy P. Walbert, Chairman, President & CEO 
 Fax: 847-572-1372 

If to the Executive: 
 Brian
Beeler 
 35 Brier Street 

Winnetka, IL 60093 
 Any such written notice
shall be deemed given on the earlier of the date on which such notice is personally delivered or five (5) days after its deposit in the United States mail as specified above. Either Party may change its address for notices by giving written
notice to the other Party in the manner specified in this section. 
  

	7.	Choice of Law. 

 This Agreement shall be governed by the laws of the State of
Illinois, without regard to any conflicts of law principals thereof that would call for the application of the laws of any other jurisdiction. The Parties consent to the exclusive jurisdiction and venue of the federal court in the Northern District
of Illinois, and state courts located in the state of Illinois, county of Cook. Nothing in this Section 7 limits the rights of the Parties to seek appeal of a decision of an Illinois court outside of Illinois that has proper jurisdiction over
the decision of a court sitting in Illinois. 
  

	8.	Integration. 

 This Agreement, including Exhibit A, Exhibit B, Exhibit C, the 2014
Equity Incentive Plan and the Equity LTIP contains the complete, final and exclusive agreement of the Parties relating to the terms and conditions of the Executive’s employment and the termination of Executive’s employment, and supersedes
all prior and contemporaneous oral and written employment agreements or arrangements between the Parties. 
  

	9.	Amendment. 

 This Agreement cannot be amended or modified except by a written
agreement signed by the Executive and the Company. 

	10.	Waiver. 

 No term, covenant or condition of this Agreement or any breach thereof
shall be deemed waived, except with the written consent of the Party against whom the wavier is claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the
same or any other term, covenant, condition or breach. 
  

	11.	Severability. 

 The finding by a court of competent jurisdiction of the
unenforceability, invalidity or illegality of any provision of this Agreement shall not render any other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or
unenforceable term or provision with a valid and enforceable term or provision, which most accurately represents the Parties’ intention with respect to the invalid, unenforceable, or illegal term or provision. 

 

	12.	Interpretation; Construction. 

 The headings set forth in this Agreement are for
convenience of reference only and shall not be used in interpreting this Agreement. This Agreement has been drafted and negotiated by legal counsel representing the Company and the Executive. The Parties acknowledge that each Party and its counsel
has reviewed and revised, or had an opportunity to review and revise, this Agreement, and any rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this
Agreement. 
  

	13.	Execution by Facsimile Signatures and in Counterparts. 

 The parties agree that
facsimile signatures shall have the same force and effect as original signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same
instrument. 
  

	14.	Survival. 

 The provisions of this Agreement, and of all other agreements referenced
herein, shall survive the termination of this Agreement, and of the Executive’s employment by the Company for any reason, to the extent necessary to enable the parties to enforce their respective rights hereunder. 

[Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREFORE, the parties have signed this Agreement on the date first written
above. 
  

	
	COMPANY:
	
	HORIZON PHARMA, INC.
	HORIZON PHARMA USA, INC.
	
	By:
	
	Title: Chairman, President & CEO
	
	Print Name: Timothy P. Walbert
	
	 /s/ Timothy P. Walbert

	
	Signature:
	
	 As authorized agent of the Company

	
	 May 7, 2015

	
	Date
	
	EXECUTIVE:
	
	Brian Beeler
	
	 /s/ Brian Beeler

	Brian Beeler, individually
	
	 May 7, 2015

	Date

 EXHIBIT A 

RELEASE AND WAIVER OF CLAIMS 
 In
consideration of the payments and other benefits set forth in Section 4.4 of the Executive Employment Agreement dated
                            , (the “Employment Agreement”), to which this form is
attached, I, Brian Beeler, hereby furnish Horizon Pharma, Inc. and Horizon Pharma USA, Inc. (together the “Company”), with the following release and waiver (“Release and Waiver”). 

In exchange for the consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby generally
and completely release the Company and its 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 relating to my employment or the termination thereof prior to my signing this Release and Waiver. This general
release includes, but is not limited to: (1) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (2) all claims related to my compensation or benefits from the Company,
including, but not limited to, salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (3) all claims for breach of contract,
wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including, but not limited to, claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and
(5) all federal, state, and local statutory claims, including, but not limited to, 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”), the Illinois Human Rights Act, the Illinois Equal Pay Act, the Illinois Religious Freedom
Restoration Act, and the Illinois Genetic Information Privacy Act. Notwithstanding the foregoing, this Release and Waiver, shall not release or waive my rights: to indemnification under the articles and bylaws of the Company or applicable law; to
payments under Sections             of the Employment Agreement; under any provision of the Employment Agreement that survives the termination of that agreement; under any applicable
workers’ compensation statute; under any option, restricted share or other agreement concerning any equity interest in the Company; as a shareholder of the Company or any other right that is not waivable under applicable law. 

I acknowledge that, among other rights, I am waiving and releasing any rights I may have under ADEA, that this Release and Waiver is knowing
and voluntary, and that the consideration given for this Release and Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. If I am 40 years of age or older upon execution of this Release and
Waiver, I further acknowledge that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release 

 
and waiver granted herein does not relate to claims under the ADEA which may arise after this Release and Waiver is executed; (b) I should consult with an attorney prior to executing this
Release and Waiver; and (c) I have twenty-one (21) days from the date of termination of my employment with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver
earlier); (d) I have seven (7) days following the execution of this Release and Waiver to revoke my consent to this Release and Waiver; and (e) this Release and Waiver shall not be effective until the seven (7) day revocation
period has expired unexercised. If I am less than 40 years of age upon execution of this Release and Waiver, I acknowledge that I have the right to consult with an attorney prior to executing this Release and Waiver (although I may choose
voluntarily not to do so); and (c) I have five (5) days from the date of termination of my employment with the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver
earlier). 
 I acknowledge my continuing obligations under my Confidential Information and Inventions Agreement dated
                    ,             . Pursuant to the Confidential Information and
Inventions Agreement I understand that among other things, I must not use or disclose any confidential or proprietary information of the Company and I must immediately return all Company property and documents (including all embodiments of
proprietary information) and all copies thereof in my possession or control. I understand and agree that my right to the payments and other benefits I am receiving in exchange for my agreement to the terms of this Release and Waiver is contingent
upon my continued compliance with my Confidential Information and Inventions Agreement. 
 This Release and Waiver, including my
Confidential Information and Inventions Agreement dated                     ,
            , 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 herein. This Release and Waiver may only be modified by a writing signed by both me and a duly authorized officer of the Company. 

Date: 
  

			
	By:		
			Brian Beeler

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