Document:

2008 Equity Incentive Plan (March 7, 2012 Restatement)

 Exhibit 10.4 
 TIBCO SOFTWARE INC. 
 2008 EQUITY INCENTIVE PLAN 

(March 7, 2012 Restatement) 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 SECTION 1 BACKGROUND AND PURPOSE
	  	 	1	  
			
	 1.1
	    	 Background and Effective Date
	  	 	1	  
	 1.2
	    	 Purpose of the Plan
	  	 	1	  
		
	 SECTION 2 DEFINITIONS
	  	 	1	  
			
	 2.1
	    	 “1934 Act”
	  	 	1	  
	 2.2
	    	 “Affiliate”
	  	 	1	  
	 2.3
	    	 “Award”
	  	 	1	  
	 2.4
	    	 “Award Agreement”
	  	 	2	  
	 2.5
	    	 “Board”
	  	 	2	  
	 2.6
	    	 “Cause”
	  	 	2	  
	 2.7
	    	 “Change of Control”
	  	 	2	  
	 2.8
	    	 “Code”
	  	 	2	  
	 2.9
	    	 “Committee”
	  	 	2	  
	 2.10
	    	 “Company”
	  	 	2	  
	 2.11
	    	 “Consultant”
	  	 	2	  
	 2.12
	    	 “Covered Employee”
	  	 	2	  
	 2.13
	    	 “Director”
	  	 	2	  
	 2.14
	    	 “Disability”
	  	 	3	  
	 2.15
	    	 “Employee”
	  	 	3	  
	 2.16
	    	 “Exchange Program”
	  	 	3	  
	 2.17
	    	 “Exercise Price”
	  	 	3	  
	 2.18
	    	 “Fair Market Value”
	  	 	3	  
	 2.19
	    	 “First Option”
	  	 	3	  
	 2.20
	    	 “Fiscal Year”
	  	 	3	  
	 2.21
	    	 “Grant Date”
	  	 	3	  
	 2.22
	    	 “Incentive Stock Option”
	  	 	3	  
	 2.23
	    	 “Inside Director”
	  	 	3	  
	 2.24
	    	 “Non-Employee Director”
	  	 	3	  
	 2.25
	    	 “Nonqualified Stock Option”
	  	 	3	  
	 2.26
	    	 “Option”
	  	 	3	  
	 2.27
	    	 “Other Cash-Based Award”
	  	 	4	  
	 2.28
	    	 “Other Stock-Based Award”
	  	 	4	  
	 2.29
	    	 “Participant”
	  	 	4	  
	 2.30
	    	 “Performance Goals”
	  	 	4	  
	 2.31
	    	 “Performance Period”
	  	 	5	  
	 2.32
	    	 “Period of Restriction”
	  	 	5	  
	 2.33
	    	 “Plan”
	  	 	5	  
	 2.34
	    	 “Restricted Stock”
	  	 	5	  
	 2.35
	    	 “Restricted Stock Unit” or “RSU”
	  	 	5	  
	 2.36
	    	 “Retirement”
	  	 	5	  
	 2.37
	    	 “Rule 16b-3”
	  	 	5	  
	 2.38
	    	 “Section 16 Person”
	  	 	5	  
	 2.39
	    	 “Shares”
	  	 	5	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 2.40
	    	 “Stock Appreciation Right” or “SAR”
	  	 	5	  
	 2.41
	    	 “Subsequent Option”
	  	 	5	  
	 2.42
	    	 “Subsidiary”
	  	 	6	  
	 2.43
	    	 “Tax Obligations”
	  	 	6	  
	 2.44
	    	 “Termination of Service”
	  	 	6	  
	 2.45
	    	 “TIBCO Prior Plans”
	  	 	6	  
		
	 SECTION 3 ADMINISTRATION
	  	 	6	  
			
	 3.1
	    	 The Committee
	  	 	6	  
	 3.2
	    	 Authority of the Committee
	  	 	6	  
	 3.3
	    	 Delegation by the Committee
	  	 	7	  
	 3.4
	    	 Decisions Binding
	  	 	7	  
	 3.5
	    	 Restrictions and Legends
	  	 	7	  
		
	 SECTION 4 SHARES SUBJECT TO THE PLAN
	  	 	7	  
			
	 4.1
	    	 Number of Shares
	  	 	7	  
	 4.2
	    	 Full Value Awards
	  	 	7	  
	 4.3
	    	 Lapsed Awards
	  	 	8	  
	 4.4
	    	 Adjustments in Awards and Authorized Shares
	  	 	8	  
		
	 SECTION 5 STOCK OPTIONS
	  	 	8	  
			
	 5.1
	    	 Grant of Options
	  	 	8	  
	 5.2
	    	 Award Agreement
	  	 	8	  
	 5.3
	    	 Exercise Price
	  	 	9	  
	 5.4
	    	 Expiration of Options
	  	 	9	  
	 5.5
	    	 Exercisability of Options
	  	 	9	  
	 5.6
	    	 Payment
	  	 	10	  
	 5.7
	    	 Certain Additional Provisions for Incentive Stock Options
	  	 	10	  
		
	 SECTION 6 STOCK APPRECIATION RIGHTS
	  	 	10	  
			
	 6.1
	    	 Grant of SARs
	  	 	10	  
	 6.2
	    	 SAR Agreement
	  	 	11	  
	 6.3
	    	 Expiration of SARs
	  	 	11	  
		
	 SECTION 7 RESTRICTED STOCK
	  	 	11	  
			
	 7.1
	    	 Grant of Restricted Stock
	  	 	11	  
	 7.2
	    	 Restricted Stock Agreement
	  	 	11	  
	 7.3
	    	 Other Restrictions
	  	 	11	  
	 7.4
	    	 Voting Rights
	  	 	12	  
	 7.5
	    	 Dividends and Other Distributions
	  	 	12	  
		
	 SECTION 8 RESTRICTED STOCK UNITS
	  	 	12	  
			
	 8.1
	    	 Grant of RSUs
	  	 	12	  
	 8.2
	    	 RSU Agreement
	  	 	12	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 8.3
	    	 Section 162(m) Performance Objectives
	  	 	13	  
		
	 SECTION 9 OTHER STOCK-BASED OR CASH-BASED AWARDS
	  	 	13	  
			
	 9.1
	    	 Grant of Other Stock-Based or Cash-Based Awards
	  	 	13	  
	 9.2
	    	 General Restrictions
	  	 	13	  
		
	 SECTION 10 GENERAL PROVISIONS
	  	 	13	  
			
	 10.1
	    	 Impact of Change of Control on Options, SARs, Restricted Stock Awards, Restricted Stock Unit Awards and Other Stock-Based
Awards
	  	 	13	  
	 10.2
	    	 Impact of Change of Control on Other Cash-Based Awards
	  	 	14	  
	 10.3
	    	 Assumption of Options, SARs, Restricted Stock Awards, Restricted Stock Unit Awards, and Other Stock-Based Awards Upon
Change of Control
	  	 	14	  
	 10.4
	    	 Deferrals
	  	 	15	  
	 10.5
	    	 No Effect on Employment or Service
	  	 	15	  
	 10.6
	    	 Cancellation and Rescission of Awards
	  	 	15	  
	 10.7
	    	 Participation
	  	 	16	  
	 10.8
	    	 Successors
	  	 	16	  
	 10.9
	    	 Beneficiary Designations
	  	 	16	  
	 10.10
	    	 Limited Transferability of Awards
	  	 	16	  
	 10.11
	    	 No Rights as Stockholder
	  	 	17	  
	 10.12
	    	 Leaves of Absence
	  	 	17	  
		
	 SECTION 11 AMENDMENT, TERMINATION, AND DURATION
	  	 	17	  
			
	 11.1
	    	 Amendment, Suspension, or Termination
	  	 	17	  
	 11.2
	    	 Duration of the Plan
	  	 	17	  
		
	 SECTION 12 TAX WITHHOLDING
	  	 	17	  
			
	 12.1
	    	 Withholding Requirements
	  	 	17	  
	 12.2
	    	 Withholding Arrangements
	  	 	18	  
		
	 SECTION 13 LEGAL CONSTRUCTION
	  	 	18	  
			
	 13.1
	    	 Gender and Number
	  	 	18	  
	 13.2
	    	 Severability
	  	 	18	  
	 13.3
	    	 Requirements of Law
	  	 	18	  
	 13.4
	    	 Securities Law Compliance
	  	 	18	  
	 13.5
	    	 Code Section 409A
	  	 	18	  
	 13.6
	    	 Governing Law
	  	 	18	  
	 13.7
	    	 Captions
	  	 	18	  

  
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 TIBCO SOFTWARE INC. 

2008 EQUITY INCENTIVE PLAN 
 (March 7, 2012 Restatement) 
 SECTION 1 

BACKGROUND AND PURPOSE 
 1.1 Background and Effective Date. The Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, and Restricted Stock Units.
The Plan was originally effective as of August 1, 2008, upon approval by an affirmative vote of the holders of a majority of the Shares that were present in person or by proxy and entitled to vote at the 2008 Annual Meeting of Stockholders of
the Company. The Plan was subsequently amended and restated effective as of February 26, 2010, upon approval by an affirmative vote of the holders of a majority of the Shares that were present in person or by proxy and entitled to vote at the
2010 Annual Meeting of Stockholders of the Company. This amended and restated Plan is effective as of March 7, 2012 (the “Effective Date”), subject to approval by an affirmative vote of the holders of a majority of the Shares present
in person or by proxy and entitled to vote at the 2012 Annual Meeting of Stockholders of the Company. 
 1.2 Purpose of the
Plan. The Plan is intended to attract, motivate, and retain (a) employees of the Company, its Subsidiaries and its Affiliates, (b) consultants who provide services to the Company, its Subsidiaries and Affiliates and
(c) Non-Employee Directors. The Plan is also designed to permit the payment of compensation that qualifies as performance-based compensation under Section 162(m) of the Code. The Plan is intended to replace the TIBCO Prior Plans.

 SECTION 2 
 DEFINITIONS 
 The following words and phrases shall have the following meanings
unless a different meaning is plainly required by the context: 
 2.1 “1934 Act” means the Securities Exchange
Act of 1934, as amended. Reference to a specific section of the 1934 Act or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation
or regulation amending, supplementing or superseding such section or regulation. 
 2.2 “Affiliate” means any
corporation or any other entity (including, but not limited to, partnerships and joint ventures) controlling, controlled by, or under common control with the Company. 
 2.3 “Award” means, individually or collectively, a grant of Options, SARs, Restricted Stock, RSUs, Other Stock-Based Awards or Other Cash-Based Awards pursuant to the Plan.

 2.4 “Award Agreement” means the written agreement, notice, or other
instrument or document setting forth the terms and conditions applicable to each Award granted pursuant to the Plan. 
 2.5
“Board” means the Board of Directors of the Company. 
 2.6 “Cause” shall have the meaning set
forth in the Participant’s employment or other agreement with the Company or any Subsidiary provided that if the Participant is not a party to any such employment or other agreement or such employment or other agreement does not contain a
definition of Cause, then Cause shall have the meaning set forth in the applicable Award Agreement. 
 2.7 “Change of
Control” means (i) a sale of all or substantially all of the Company’s assets, (ii) any merger consolidation, or other business combination transaction of the Company with or into another corporation, entity, or person, other
than a transaction in which the holders of at least a majority of the shares of voting capital stock of the Company outstanding immediately prior to such transaction continue to hold (either by such shares remaining outstanding or by their being
converted into shares of voting capital stock of the surviving entity) a majority of the total voting power represented by the shares of voting capital stock of the Company (or the surviving entity) outstanding immediately after such transaction,
(iii) the direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the
voting power of the then outstanding shares of capital stock of the Company, (iv) a contested election of Directors, as a result of which or in connection with which the persons who were Directors before such election or their nominees cease to
constitute a majority of the Board, or (v) a dissolution or liquidation of the Company. 
 2.8 “Code”
means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto. Reference to a specific section of the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under
such section, and any comparable provision of any successor legislation or regulation amending, supplementing or superseding such section or regulation. 
 2.9 “Committee” means the Compensation Committee of the Board or a subcommittee thereof or such other committee as may be designated by the Board to administer the Plan. 

2.10 “Company” means TIBCO Software Inc., a Delaware corporation, or any successor thereto. 

2.11 “Consultant” means any consultant, independent contractor, advisor, or other person who provides services to the
Company, its Subsidiaries or Affiliates, but who is neither an Employee nor a Director. 
 2.12 “Covered
Employee” has the meaning set forth in Section 162(m)(3) of the Code. 
 2.13 “Director” means
any individual who is a member of the Board of Directors of the Company. 

  
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 2.14 “Disability” means a permanent disability in accordance with a policy
or policies established by the Company from time to time. 
 2.15 “Employee” means any employee of the Company
or of a Subsidiary, whether such employee is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 
 2.16 “Exchange Program” means a program established by the Committee under which outstanding Awards are amended to provide for a lower Exercise Price or surrendered or cancelled in
exchange for (a) Awards with a lower Exercise Price, (b) a different type of Award, (c) cash, or (d) a combination of (a), (b) and/or (c). Notwithstanding the preceding, the term Exchange Program does not include any
(i) action described in Section 4.4, or (ii) transfer or other disposition permitted under Section 10.10. 

2.17 “Exercise Price” means the price at which a Share may be purchased by a Participant pursuant to the exercise of an
Option. 
 2.18 “Fair Market Value” means the closing per share selling price for Shares for the date of
grant on the principal securities exchange on which the Shares are traded or, if there is no such sale on the relevant date, then on the last previous day on which a sale was reported; if the Shares are not listed for trading on a national
securities exchange, the fair market value of Shares shall be determined in good faith by the Committee. Notwithstanding the preceding, for federal, state, and local income tax reporting purposes, fair market value shall be determined by the Company
in accordance with uniform and nondiscriminatory standards adopted by it from time to time. 
 2.19 “First
Option” shall have the meaning set forth in Section 5.8(ii). 
 2.20 “Fiscal Year” means the
fiscal year of the Company. 
 2.21 “Grant Date” means, with respect to an Award, the date that the Award was
granted. The Grant Date of an Award shall not be earlier than the date the Award is approved by the Committee. 
 2.22
“Incentive Stock Option” means an Option to purchase Shares that is designated as an Incentive Stock Option and is intended to meet the requirements of Section 422 of the Code. 

2.23 “Inside Director” means a Director who is an Employee. 

2.24 “Non-Employee Director” means a Director who is not an employee of the Company, any Subsidiary or any
Affiliate. 
 2.25 “Nonqualified Stock Option” means an option to purchase Shares that is not intended to be an
Incentive Stock Option. 
 2.26 “Option” means an Incentive Stock Option or a Nonqualified Stock Option.

  
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 2.27 “Other Cash-Based Award” means a cash-based Award granted to a
Participant under Section 9.1 hereof, including cash awarded as a bonus or upon the attainment of Performance Goals or otherwise as permitted under the Plan. 
 2.28 “Other Stock-Based Award” means an Award granted to a Participant pursuant to Section 9.1 hereof, that may be denominated or payable in, valued in whole or in part by reference
to, or otherwise based on, or related to, Shares, each of which may be subject to the attainment of Performance Goals or a period of continued employment or other terms and conditions as permitted under the Plan. 

2.29 “Participant” means an Employee, Non-Employee Director, or Consultant who has an outstanding Award. 

2.30 “Performance Goals” means performance goals based on one or more of the following criteria: (i) earnings
including operating income, earnings before or after taxes, earnings before or after interest, depreciation, amortization, or extraordinary or special items or book value per share (which may exclude nonrecurring items); (ii) pre-tax income or
after-tax income; (iii) earnings per common share (basic or diluted); (iv) operating profit; (v) revenue, revenue growth or rate of revenue growth; (vi) return on assets(gross or net), return on investment, return on capital, or
return on equity; (vii) returns on sales or revenues; (viii) operating expenses;(ix) stock price appreciation; (x) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by
operations, or cash flow in excess of cost of capital; (xi) implementation or completion of critical projects or processes;(xii) economic value created; (xiii) cumulative earnings per share growth; (xiv) operating margin or
profit margin; (xv) common stock price or total stockholder return; (xvi) cost targets, reductions and savings, productivity and efficiencies; (xvii) intellectual property (e.g., patents); (xviii) product development;
(xix) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration, geographic business expansion, customer satisfaction, employee satisfaction, human resources management, supervision of
litigation, information technology, and goals relating to acquisitions, divestitures, joint ventures and similar transactions, and budget comparisons; (xx) personal professional objectives, including any of the foregoing performance goals, the
implementation of policies and plans, the negotiation of transactions, the development of long term business goals, formation of joint ventures, research or development collaborations, and the completion of other corporate transactions; and
(xxi) any combination of, or a specified increase in, any of the foregoing. Where applicable, the Performance Goals may be expressed in terms of attaining a specified level of the particular criteria or the attainment of a percentage increase
or decrease in the particular criteria, and may be applied to one or more of the Company, a Subsidiary or a division or strategic business unit of the Company, or may be applied to the performance of the Company relative to a market index, a group
of other companies or a combination thereof, all as determined by the Committee. The Performance Goals may include a threshold level of performance below which no payment will be made (or no vesting will occur), levels of performance at which
specified payments will be made (or specified vesting will occur), and a maximum level of performance above which no additional payment will be made (or at which full vesting will occur). Each of the foregoing Performance Goals may be determined
either in accordance with generally accepted accounting principles (“GAAP”) or on a non-GAAP basis and shall be subject to certification by the Committee; provided that, to the extent an Award is intended to satisfy the

  
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performance-based compensation exception to the limits of Section 162(m) of the Code and then to the extent consistent with such exception, the Committee shall have the authority to make
equitable adjustments to the Performance Goals in recognition of unusual or non-recurring events affecting the Company or any Subsidiary or the financial statements of the Company or any Subsidiary, in response to changes in applicable laws or
regulations, or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principles.
Awards issued to persons who are not Covered Employees may take into account any other factors deemed appropriate by the Committee. 
 2.31 “Performance Period” means the period selected by the Committee during which the performance of the Company or any Subsidiary, division or strategic business unit thereof or any
individual is measured for the purpose of determining the extent to which an Award subject to Performance Goals has been earned. 
 2.32 “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial
risk of forfeiture. As provided in Section 7, such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the Committee. 

2.33 “Plan” means the TIBCO Software Inc. 2008 Equity Incentive Plan, as set forth in this instrument and as hereafter
amended from time to time. 
 2.34 “Restricted Stock” means an Award granted to a Participant pursuant to
Section 7. 
 2.35 “Restricted Stock Unit” or “RSU”means an Award granted to a
Participant pursuant to Section 8. 
 2.36 “Retirement” means, in the case of a Non-Employee Director or
an Employee a Termination of Service occurring in accordance with a policy or policies established by the Company from time to time, provided, however that with respect to a Consultant, no Termination of Service shall be deemed to be on account of
“Retirement.” 
 2.37 “Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, and any future
regulation amending, supplementing or superseding such regulation. 
 2.38 “Section 16 Person” means a
person who, with respect to the Shares, is subject to Section 16 of the 1934 Act. 
 2.39 “Shares” means
the shares of common stock of the Company. 
 2.40 “Stock Appreciation Right” or “SAR” means
an Award, granted alone or in connection with a related Option, that pursuant to Section 6 is designated as an SAR. 
 2.41
“Subsequent Option” shall have the meaning set forth in Section 5.8(iii). 

  
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 2.42 “Subsidiary” means any corporation in an unbroken chain of
corporations beginning with the Company as the corporation at the top of the chain, but only if each of the corporations below the Company (other than the last corporation in the unbroken chain) then owns stock possessing fifty percent (50%) or
more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 2.43
“Tax Obligations” means income tax and social insurance contribution, payroll tax, payment on account, or other tax-related withholding obligations and requirements in connection with the Awards, including, without limitation,
(a) all federal, national, state, foreign and local taxes (including the Participant’s FICA obligation) that are required to be withheld by the Company or the employing Affiliate or Subsidiary, (b) the Participant’s and, to the
extent required by the Company (or the employing Affiliate or Subsidiary), the Company’s (or the employing Affiliate or Subsidiary’s) fringe benefit tax liability, if any, associated with the grant, vesting, exercise or sale of Shares, and
(c) any other Company (or employing Affiliate or Subsidiary) taxes the responsibility for which the Participant has agreed to bear with respect to such Award (including the exercise thereof or issuance of Shares thereunder). 

2.44 “Termination of Service” means (a) in the case of an Employee, a cessation of the employee-employer
relationship between the Employee and the Company or a Subsidiary or Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, Retirement, or the disaffiliation of a Subsidiary,
but excluding any such termination where there is a simultaneous reemployment by the Company or a Subsidiary or Affiliate; (b) in the case of a Consultant, a cessation of the service relationship between the Consultant and the Company or a
Subsidiary or Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, or the disaffiliation of a Subsidiary or Affiliate, but excluding any such termination where there is a
simultaneous re-engagement of the consultant by the Company or a Subsidiary or Affiliate; and (c) in the case of a Non-Employee Director, a cessation of the Director’s service on the Board for any reason, including, but not by way of
limitation, a termination by resignation, death, Disability, Retirement or non-reelection to the Board. For the purpose of administering the Plan, Termination of Service shall be deemed to occur when an Employee is no longer actively employed by the
Company or a Subsidiary or Affiliate and will not be extended by any notice of termination period or leave period if the Employee is not actively rendering services during said period. 

2.45 “TIBCO Prior Plans” means the Company’s 1996 Stock Option Plan, as amended and restated, and the
Company’s 1998 Director Option Plan, as amended and restated. 
 SECTION 3 

ADMINISTRATION 

3.1 The Committee. The Plan shall be administered by the Committee. 

3.2 Authority of the Committee. It shall be the duty of the Committee to administer the Plan in accordance with the
Plan’s provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which Employees, Non-Employee
Directors and Consultants shall be 

  
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granted Awards, (b) prescribe the terms and conditions of the Awards, (c) interpret the Plan and the Awards, (d) adopt such procedures and subplans as are necessary or appropriate
to permit participation in the Plan by Employees, Non-Employee Directors and Consultants who are foreign nationals or employed outside of the United States, (e) adopt rules and guidelines for the administration, interpretation and application
of the Plan as are consistent therewith, and (f) interpret, amend or revoke any such rules and guidelines. Notwithstanding the preceding, the Committee shall not implement an Exchange Program without the approval of the holders of a majority of
the Shares that are present in person or by proxy and entitled to vote at any Annual or Special Meeting of Stockholders of the Company. 
 3.3 Delegation by the Committee. The Committee, on such terms and conditions as it may provide, may delegate all or any part of its authority and powers under the Plan to one or more Directors
or officers of the Company. Notwithstanding the foregoing, with respect to Awards that are intended to qualify as performance-based compensation under Section 162(m) of the Code, the Committee may not delegate its authority and powers with
respect to such Awards if such delegation would cause the Awards to fail to so qualify. The Committee may delegate its authority and power under the Plan to one or more officers of the Company, subject to guidelines prescribed by the Committee, but
only with respect to Participants who are not Section 16 Persons. 
 3.4 Decisions Binding. All determinations
and decisions made by the Committee, the Board, and any delegate of the Committee pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and shall be given the maximum deference permitted by law. 

3.5 Restrictions and Legends. The Committee may impose such restrictions on any Shares delivered pursuant to the Plan as it may
deem advisable, including, but not limited to, restrictions on transfer or restrictions related to applicable federal securities laws, the requirements of any national securities exchange or system upon which Shares are then listed or traded, or any
blue sky or state securities laws. 
 SECTION 4 
 SHARES SUBJECT TO THE PLAN 
 4.1 Number of Shares. Subject to
adjustment as provided in Section 4.4, the total number of Shares available for issuance under the Plan shall not exceed 28,000,000. Awards granted under the TIBCO Prior Plans during the period commencing on April 17, 2008 and ending on
July 31, 2008, shall be deducted from the total number of Shares available for issuance under the Plan. 
 4.2 Full
Value Awards. Any Shares subject to Awards of Restricted Stock, Restricted Stock Units, and Other Stock-Based Awards granted on or after the Effective Date shall be counted against the numerical limits of Section 4.1 as 2.00 Shares for
every one Share subject thereto. Further, if Shares acquired pursuant to any Awards of Restricted Stock, Restricted Stock Units, and Other Stock-Based Awards (whether granted before, on or after the Effective Date) are forfeited or repurchased by
the Company and would otherwise return to the Plan pursuant to Section 4.3, 2.00 times the number of Shares so forfeited or repurchased shall return to the Plan and shall again become available for issuance. 

  
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 4.3 Lapsed Awards. If an Award or an award under either of the TIBCO Prior Plans
is settled in cash, or is cancelled, terminates, expires, or lapses for any reason, any Shares subject to such Award again shall be available to be the subject of an Award or award under the Plan. Shares withheld in satisfaction of Tax Obligations
pursuant to Section 12.2 as well as the Shares that represent payment of the Exercise Price shall cease to be available under the Plan. Shares that have actually been issued under the Plan under any Award shall not be returned to the Plan and
shall not become available for future distribution under the Plan; provided, however, that if unvested Shares of Restricted Stock or Restricted Stock Units or Other Stock-Based Awards are repurchased by the Company or are forfeited to the Company,
such Shares shall become available for future grant under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment shall not result in a reduction of the number of Shares available for issuance under
the Plan. Notwithstanding the foregoing and, subject to adjustment provided in Section 4.4, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options shall equal the aggregate Share number stated in
Section 4.1, plus, to the extent allowable under Section 422 of the Code, any Shares that become available for issuance under the Plan under this Section 4.3. 
 4.4 Adjustments in Awards and Authorized Shares. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the
Company affecting the Shares such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee
shall, in such manner as it may deem equitable, adjust the number and class of Shares that may be delivered under the Plan, the number, class, and price of Shares (or other property or cash) subject to outstanding Awards, and the numerical limits of
Sections 5.1, 6.1, 7.1, 8.1 and 9.2. Notwithstanding the preceding, the number of Shares subject to any Award always shall be a whole number. 
 SECTION 5 
 STOCK OPTIONS 

5.1 Grant of Options. An Option represents the right to purchase a Share at an Exercise Price. Subject to the terms and provisions
of the Plan, Options may be granted to Employees, Non-Employee Directors and Consultants at any time and from time to time as determined by the Committee. The Committee shall determine the number of Shares subject to each Award, provided that during
any Fiscal Year, no Participant shall be granted Options (and/or SARs) covering more than a total of 2,000,000 Shares. Notwithstanding the foregoing, during the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted
Options (and/or SARs) to purchase up to a total of an additional 2,000,000 Shares. The Committee may grant Incentive Stock Options, Nonqualified Stock Options, or a combination thereof. 

5.2 Award Agreement. All Options shall be evidenced by an Award Agreement that shall specify the Exercise Price, the date on
which the Options will become exercisable, the expiration date of the Options, the number of Shares, any conditions to exercise the Options, and such other terms and conditions as the Committee shall determine. The Award Agreement shall also specify
whether the Options are intended to be Incentive Stock Options or a Nonqualified Stock Options. 

  
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 5.3 Exercise Price. 

5.3.1 Nonqualified Stock Options. In the case of a Nonqualified Stock Option, the Exercise Price shall be determined by the
Committee, but shall be not less than one hundred percent (100%) of the Fair Market Value on the Grant Date. 
 5.3.2
Incentive Stock Options. In the case of an Incentive Stock Option, the Exercise Price shall be not less than one hundred percent (100%) of the Fair Market Value on the Grant Date; provided, however, that if on the Grant Date, the
Employee (together with persons whose stock ownership is attributed to the Employee pursuant to Section 424(d) of the Code) owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any of
its Subsidiaries, the Exercise Price shall be not less than one hundred and ten percent (110%) of the Fair Market Value on the Grant Date. 
 5.3.3 Substitute Options. Notwithstanding the provisions of Section 5.3.2, in the event that the Company or a Subsidiary consummates a transaction described in Section 424(a) of the Code
(e.g., the acquisition of property or stock from an unrelated corporation), persons who become Employees or Consultants on account of such transaction may be granted Options in substitution for options granted by their former employer (or parent
company or affiliated company of such former employer). If such substitute Options are granted, the Committee consistent with Section 424(a) of the Code, may determine that each such substitute Options shall have an Exercise Price less than one
hundred percent (100%) of the Fair Market Value on the Grant Date. 
 5.4 Expiration of Options.

5.4.1 Expiration Dates. Each Option shall terminate no later than the first to occur of the following events: 

(a) The date for termination of the Option set forth in the written Award Agreement; or 

(b) The expiration of seven (7) years from the Grant Date. 

5.4.2 Death of Participant. Notwithstanding Section 5.4.1, if a Participant dies prior to the expiration of his or her
Options, the Committee may provide that his or her Options shall be exercisable for up to twelve (12) months after the date of death. 
 5.4.3 Committee Discretion. Subject to the seven and eight-year limits of Sections 5.4.1 and 5.4.2, the Committee (a) shall provide in each Award Agreement when each Option expires and
becomes unexercisable, and (b) may, after an Option is granted, extend the maximum term of the Option (subject to Section 5.7.4 regarding Incentive Stock Options). 
 5.5 Exercisability of Options. Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine. After an
Option is granted, the Committee may accelerate the exercisability of the Option. 

  
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 5.6 Payment. Options shall be exercised by the Participant giving notice and
following such procedures as the Company (or its designee) may specify from time to time. Exercise of an Option also requires that the Participant make arrangements satisfactory to the Company for full payment of the Exercise Price for the Shares.
All exercise notices shall be given in the form and manner specified by the Company from time to time. 
 The Exercise Price
shall be payable to the Company in full (a) in cash or its equivalent, or (b) subject to the terms of the applicable Award Agreement, by tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise
equal to the total Exercise Price, or (c) by any other means which the Committee determines to both provide legal consideration for the Shares and set forth in the applicable Award Agreement, and to be consistent with the purposes of the Plan.

 5.7 Certain Additional Provisions for Incentive Stock Options.

5.7.1 Exercisability. The aggregate Fair Market Value (determined on the Grant Date(s)) of the Shares with respect to which
Incentive Stock Options are exercisable for the first time by any Employee during any calendar year (under all plans of the Company and its Subsidiaries) shall not exceed $100,000. 

5.7.2 Termination of Service. No Incentive Stock Option may be exercised more than three (3) months after the
Participant’s Termination of Service for any reason other than Disability or death, unless (a) the Participant dies during such three-month period, and/or (b) the Award Agreement or the Committee permits later exercise (in which case
the Option instead may be deemed to be a Nonqualified Stock Option). No Incentive Stock Option may be exercised more than one (1) year after the Participant’s Termination of Service on account of Disability, unless (a) the Participant
dies during such one-year period, and/or (b) the Award Agreement or the Committee permit later exercise (in which case the option instead may be deemed to be a Nonqualified Stock Option). 

5.7.3 Employees Only. Incentive Stock Options may be granted only to persons who are employees of the Company or a Subsidiary on
the Grant Date. 
 5.7.4 Expiration. No Incentive Stock Option may be exercised after the expiration of seven
(7) years from the Grant Date; provided, however, that if the Option is granted to an Employee who, together with persons whose stock ownership is attributed to the Employee pursuant to Section 424(d) of the Code, owns stock possessing
more than 10% of the total combined voting power of all classes of the stock of the Company or any of its Subsidiaries, the Option may not be exercised after the expiration of five (5) years from the Grant Date. 

SECTION 6 
 STOCK
APPRECIATION RIGHTS 
 6.1 Grant of SARs. A SAR represents the right with respect to a Share to receive a payment, in
cash, Shares, or both (as determined by the Committee), with a value equal to the excess of Fair Market Value on the date of exercise (or, if so specified in the Award Agreement, on the date 

  
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immediately preceding the date of exercise) over the Award’s Grant Price. Subject to the terms and conditions of the Plan, a SAR may be granted to Employees, Non-Employee Directors and
Consultants at any time and from time to time as shall be determined by the Committee. 
 6.1.1 Number of Shares. The
Committee shall determine the number of SARs, if any, granted to any Participant, provided that during any Fiscal Year, no Participant shall be granted SARs (and/or Options) covering more than a total of 2,000,000 Shares. Notwithstanding the
foregoing, during the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted SARs (and/or Options) covering up to a total of an additional 2,000,000 Shares. 

6.1.2 Exercise Price and Other Terms. The Committee, subject to the provisions of the Plan, shall determine the terms and
conditions of SARs granted under the Plan. The Exercise Price of each SAR shall be determined by the Committee but shall not be less than one hundred percent (100%) of the Fair Market Value on the Grant Date. After a SAR is granted, the
Committee may accelerate the exercisability of the SAR. 
 6.2 SAR Agreement. Each SAR grant shall be evidenced by
an Award Agreement that shall specify the exercise price, the term of the SAR, the conditions of exercise, and such other terms and conditions as the Committee shall determine. 

6.3 Expiration of SARs. A SAR granted under the Plan shall expire upon the date determined by the Committee and set forth in
the Award Agreement. Notwithstanding the foregoing, the rules of Section 5.4 also shall apply to SARs. 
 SECTION 7

 RESTRICTED STOCK 
 7.1 Grant of Restricted Stock. Restricted Stock are Shares that are awarded to a Participant and that during the Restricted Period are forfeitable to the Company upon such conditions as set
forth in the applicable Award Agreement. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Shares of Restricted Stock to Employees, Non-Employee Directors and Consultants as the Committee
shall determine. The Committee shall determine the number of Shares, if any, to be granted to each Participant, provided that during any Fiscal Year, no Participant shall receive more than a total of 700,000 Shares of Restricted Stock (and/or
Restricted Stock Units). Notwithstanding the foregoing, during the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted up to a total of an additional 700,000 Shares of Restricted Stock (and/or Restricted Stock
Units). 
 7.2 Restricted Stock Agreement. Each Award of Restricted Stock shall be evidenced by an Award Agreement
that shall specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Committee shall determine. After an Award of Restricted Stock has been made, the Committee may waive all or any part of the
applicable Period of Restriction. 
 7.3 Other Restrictions. The Committee may impose such other restrictions on
Shares of Restricted Stock as it may deem advisable or appropriate, in accordance with this Section 7.3. 

  
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 7.3.1 General Restrictions. The Committee may set restrictions based upon continued
employment or service with the Company and its Subsidiaries, the achievement of specific performance objectives (Company-wide, departmental, or individual), applicable federal or state securities laws, or any other basis determined by the Committee.

 7.3.2 Section 162(m) Performance Restrictions. For purposes of qualifying grants of Restricted Stock as
“performance-based compensation” under Section 162(m) of the Code, the Committee may set restrictions based upon the achievement of Performance Goals. The Performance Goals shall be set by the Committee on or before the latest date
permissible to enable the Restricted Stock to qualify as “performance-based compensation” under Section 162(m) of the Code. In granting Restricted Stock which is intended to qualify under Section 162(m) of the Code, the Committee
shall follow any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Restricted Stock under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

7.4 Voting Rights. During the Period of Restriction, Participants holding Shares of Restricted Stock granted hereunder may
exercise full voting rights with respect to those Shares, unless the Committee determines otherwise. 
 7.5 Dividends and
Other Distributions. During the Period of Restriction, Participants holding Shares of Restricted Stock shall be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in the
Award Agreement. Any such dividends or distribution shall be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid, unless otherwise provided in the Award
Agreement. The Company may require such dividends or other distributions be deposited with the Company until such time as the restrictions on transferability of the corresponding Shares of Restricted Stock lapse. 

SECTION 8 

RESTRICTED STOCK UNITS 
 8.1 Grant of RSUs. Restricted Stock Units represent the right to receive Shares, cash, or both (as determined by the Committee) upon satisfaction of such conditions as set forth in the
applicable Award agreement. Restricted Stock Units may be granted to Employees, Non-Employee Directors and Consultants at any time and from time to time, as shall be determined by the Committee. The Committee shall determine the number of Restricted
Stock Units, if any, granted to each Participant, provided that during any Fiscal Year, no Participant shall be granted more than a total of 700,000 Restricted Stock Units (and/or Shares of Restricted Stock). Notwithstanding the foregoing, during
the Fiscal Year in which a Participant first becomes an Employee, he or she may be granted up to a total of an additional 700,000 Restricted Stock Units (and/or Shares of Restricted Stock). 

8.2 RSU Agreement. Each Award of Restricted Stock Units shall be evidenced by an Award Agreement that shall specify any
vesting conditions and/or performance objectives, the number of Restricted Stock Units granted, and such other terms and conditions as the Committee shall determine. After an Award of Restricted Stock Units has been granted, the Committee may

  
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waive any vesting or performance conditions. Except as provided in the applicable Award agreement, a Participant shall have with respect to such Restricted Stock Units none of the rights of a
holder of Shares unless and until Shares are actually delivered in satisfaction of such Restricted Stock Units. 
 8.3
Section 162(m) Performance Objectives. For purposes of qualifying grants of Restricted Stock Units as “performance-based compensation” under Section 162(m) of the Code, the Committee may determine that the performance
objectives applicable to Restricted Stock Units shall be based on the achievement of Performance Goals. The Performance Goals shall be set by the Committee on or before the latest date permissible to enable the Restricted Stock Units to qualify as
“performance-based compensation” under Section 162(m) of the Code. In granting Restricted Stock Units that are intended to qualify under Section 162(m) of the Code, the Committee shall follow any procedures determined by it from
time to time to be necessary or appropriate to ensure qualification of the Restricted Stock Units under Section 162(m) of the Code (e.g., in determining the Performance Goals). 

SECTION 9 
 OTHER
STOCK-BASED OR CASH-BASED AWARDS 
 9.1 Grant of Other Stock-Based or Cash-Based Awards. The Committee is authorized
to grant Awards to Participants in the form of Other Stock-Based Awards or Other Cash-Based Awards, as deemed by the Committee to be consistent with the purposes of the Plan. The Committee shall determine the terms and conditions of such Awards,
consistent with the terms of the Plan, at the date of grant or thereafter, including the Performance Goals and Performance Periods. Shares or other securities or property delivered pursuant to an Award in the nature of a purchase right granted under
this Section 9.1 shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without limitation, Shares, other Awards, or other property, as the Committee shall determine, subject to any
required corporate action. 
 9.2 General Restrictions. With respect to a Participant, (i) the maximum value of
the Other Cash-Based Awards that may be granted to any Participant during any Fiscal Year is $10,000,000, and (ii) the maximum number of Shares that any Participant may be granted during any Fiscal Year with respect to Other Stock-Based Awards
is 2,000,000 Shares. No payment shall be made to a Covered Employee prior to the certification by the Committee that the Performance Goals have been attained. The Committee may establish such other rules applicable to the Other Stock- or Cash-Based
Awards to the extent not inconsistent with Section 162(m) of the Code. Payments earned in respect of any Cash-Based Award may be decreased or, with respect to any grantee who is not a Covered Employee, increased by the Committee based on such
factors as the Committee deems appropriate. 
 SECTION 10 
 GENERAL PROVISIONS 
 10.1 Impact of Change of Control on Options, SARs,
Restricted Stock Awards, Restricted Stock Unit Awards and Other Stock-Based Awards. Notwithstanding any other provision of the Plan or the terms of any Award of Options, SARs, Restricted Stock, RSUs and Other Stock-Based

  
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Awards, upon a Change of Control, in the event that Awards of Options, SARs, Restricted Stock, RSUs and Other Stock-Based Awards are not assumed by the successor corporation or its parent or a
subsidiary pursuant to Section 10.3 below, then (a) Options and Stock Appreciation Rights outstanding as of the date of the Change of Control shall become fully vested and exercisable, (b) Restricted Stock Awards and Restricted Stock
Unit Awards shall become fully vested and free of any restrictions (including, without limitation, any performance vesting criteria), and (c) the restrictions and other conditions applicable to any Other Stock-Based Awards or any other Awards
shall lapse, and such Other Stock-Based Awards or such other Awards shall become free of all restrictions, limitations or conditions and become fully vested in full or part and transferable to the full extent of the original grant, subject in each
case to any terms and conditions, if any, contained in the Award Agreement evidencing such Award, including but not limited to a condition that such treatment will apply only if the Participant remains employed on the effective date of the Change of
Control or has incurred an involuntary termination of employment without cause on account of the Change of Control, as determined by the Committee in its sole discretion, within a period of up to 3 months prior to the effective date of the Change of
Control. Notwithstanding any other provision of the Plan, the Committee, in its discretion, may determine that, upon the occurrence of a Change of Control, each outstanding Award shall be fully vested and terminate within a specified number of days
after notice to the Participant, and such Participant shall receive, with respect to each Share subject to any such Award of Restricted Stock, RSU and Other Stock-Based Awards, an amount equal to the Fair Market Value immediately prior to the
occurrence of such Change of Control, or with respect to any such Award of Options or SARs, the amount equal to the Fair Market Value immediately prior to the occurrence of such Change of Control over the exercise price per share of such Option
and/or SAR; such amount in either case to be payable in cash, in one or more kinds of stock or property (including the stock or property, if any, payable in the transaction) or in a combination thereof, as the Committee, in its discretion, shall
determine. 
 10.2 Impact of Change of Control on Other Cash-Based Awards. Notwithstanding any other provision of
the Plan, the terms of any Other Cash-Based Award may provide in the Award Agreement evidencing the Award that, upon a Change of Control, in the event that the Other Cash-Based Awards are not assumed by the successor corporation or its parent or a
subsidiary, (a) a pro rata portion of the Other Cash-Based Awards shall be considered to be earned and payable based on the portion of the Other Cash-Based Award Performance Period completed as of the date of the Change of Control and based on
performance to such date, or if performance to such date is not determinable, based on target performance. 
 10.3 Assumption
of Options, SARs, Restricted Stock Awards, Restricted Stock Unit Awards, and Other Stock-Based Awards Upon Change of Control. In the event of a Change of Control, the successor company may assume or substitute for an Option, SAR, Restricted
Stock Award, Restricted Stock Unit Award, or Other Stock-Based Award. For the purposes of this Section 10.3, an Award of Option, SARs, Restricted Stock, RSUs, or Other Stock-Based Award shall be considered assumed or substituted for if
following the Change of Control the award confers the right to purchase or receive, for each Share subject to the Option, SAR, Restricted Stock Award, Restricted Stock Unit Award, or Other Stock-Based Award immediately prior to the Change of
Control, the consideration (whether stock, cash or other securities or property) received in the transaction constituting a Change of Control by holders of Shares for each Share held on the effective date of such transaction (and if holders were
offered a choice of consideration, the type of 

  
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consideration chosen by the holders of a majority of the outstanding shares); provided, however, that if such consideration received in the transaction constituting a Change of Control is not
solely common stock of the successor company, the Committee may, with the consent of the successor company, provide that the consideration to be received upon the exercise or vesting of an Option, Stock Appreciation Right, Restricted Stock Award,
Restricted Stock Unit Award, or Other Stock-Based Award, for each Share subject thereto, will be solely common stock of the successor company substantially equal in fair market value to the per share consideration received by holders of Shares in
the transaction constituting a Change of Control. The determination of such substantial equality of value of consideration shall be made by the Committee in its sole discretion and its determination shall be conclusive and binding. Notwithstanding
the foregoing, unless the applicable Award Agreement expressly provides that the provisions of this sentence shall not apply to the Award, in the event of an involuntary termination of a Participant’s employment without Cause by such successor
company within 24 months of the date of a Change of Control, each Award held by such Participant at the time of the Change of Control shall be accelerated as described in Section 10.1. For the purposes of this Section 10.3, if
“Cause” has not been defined in any applicable Award Agreement, “Cause” shall mean (i) an act of fraud or personal dishonesty undertaken by a Participant in connection with the Participant’s responsibilities as an
employee that is intended to result in substantial gain or personal enrichment of the Participant at the expense of the Company, (ii) a Participant’s conviction of, or plea of nolo contendere to, a felony, (iii) a
Participant’s gross misconduct in connection with the performance or failure of performance of a material component of the Participant’s responsibilities as an employee that is materially injurious to the Company, or (iv) a
Participant’s continued substantial violations of his or her employment duties after the Participant has received a written demand for performance from the Company which specifically sets forth the factual basis for the Company’s belief
that the Participant has not substantially performed such duties. 
 10.4 Deferrals. The Committee may permit a
Participant to defer receipt of the payment of cash or the delivery of Shares that otherwise would be due to such Participant under an Award. Any such deferral elections shall be subject to such rules and procedures as shall be determined by the
Committee. 
 10.5 No Effect on Employment or Service. Nothing in the Plan shall interfere with or limit in any way
the right of the Company or a Subsidiary to terminate any Participant’s employment or service at any time, with or without cause, subject to compliance with local law. For purposes of the Plan, transfer of employment of a Participant between
the Company and any one of its Subsidiaries (or between Subsidiaries) shall not be deemed a Termination of Service. 
 10.6
Cancellation and Rescission of Awards. The following provisions of this Section 10.6 shall apply to Awards granted to individuals who are, were or become Section 16 Persons. The Committee or the Board may cancel, rescind,
forfeit, suspend or otherwise limit or restrict any unexpired Award at any time if the Section 16 Person engages in “Detrimental Activity” (as defined below). Furthermore, in the event a Section 16 Person engages in Detrimental
Activity at any time prior to or during the six months after any exercise of an Award, lapse of a restriction under an Award or delivery of Common Stock pursuant to an Award, such exercise, lapse or delivery may be rescinded until the later of
(i) two years after such exercise, lapse or delivery or (ii) two years after such Detrimental Activity. Upon such rescission, the Company at its sole option may require 

  
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the Section 16 Person to (i) deliver and transfer to the Company the shares of Stock received by the Section 16 Person upon such exercise, lapse or delivery, (ii) pay to the
Company an amount equal to any realized gain received by the Section 16 Person from such exercise, lapse or delivery, (iii) pay to the Company an amount equal to the market price (as of the exercise, lapse or delivery date) of the Stock
acquired upon such exercise, lapse or delivery minus the respective price paid upon exercise, lapse or delivery, if applicable or (iv) pay the Company an amount equal to any cash awarded with respect to an Award. The Company shall be entitled
to set-off any such amount owed to the Company against any amount owed to the Section 16 Person by the Company. As used in this Section 10.6, “Detrimental Activity” shall include: (i) the failure to comply with any term set
forth in the Company’s Employment Agreement; (ii) any activity that results in termination of the Section 16 Officer’s employment for Cause; or (iii) the Section 16 Person being convicted of, or entering a guilty plea
with respect to a crime connected with the Company. 
 10.7 Participation. No Employee or Consultant shall have the
right to be selected to receive an Award under this Plan, or, having been so selected, to be selected to receive a future Award. 
 10.8 Successors. All obligations of the Company under the Plan, with respect to Awards granted hereunder, shall be binding on any successor to the Company, whether the existence of such
successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company. 
 10.9 Beneficiary Designations. If permitted by the Committee, a Participant under the Plan may name a beneficiary or beneficiaries to whom any vested but unpaid Award shall be paid in the
event of the Participant’s death. Each such designation shall revoke all prior designations by the Participant and shall be effective only if given in a form and manner acceptable to the Committee. In the absence of any such designation, any
vested benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate and, subject to the terms of the Plan and of the applicable Award Agreement, any unexercised vested Award may be exercised by the
administrator or executor of the Participant’s estate. 
 10.10 Limited Transferability of Awards. No Award
granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, to a Participant’s spouse, former spouse or dependent pursuant to a
court-approved domestic relations order which relates to the provision of child support, alimony payments or marital property rights or to the limited extent provided in this Section 10.10. All rights with respect to an Award granted to a
Participant shall be available during his or her lifetime only to the Participant. Notwithstanding the foregoing, the Participant may, in a manner specified by the Committee, if the Committee so permits, transfer an Award by bona fide gift and not
for any consideration, to (i) a member or members of the Participant’s immediate family, (ii) a trust established for the exclusive benefit of the Participant and/or member(s) of the Participant’s immediate family, (iii) a
partnership, limited liability company or other entity whose only partners or members are the Participant and/or member(s) of the Participant’s immediate family, or (iv) a foundation in which the Participant and/or member(s) of the
Participant’s immediate family control the management of the foundation’s assets. Any such transfer shall be made in accordance with such procedures as the Committee may specify from time to time. 

  
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 10.11 No Rights as Stockholder. Except to the limited extent provided in
Sections 7.4 and 7.5, no Participant (nor any beneficiary) shall have any of the rights or privileges of a stockholder of the Company with respect to any Shares issuable pursuant to an Award (or exercise thereof), unless and until certificates
representing such Shares shall have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Participant (or beneficiary). 

10.12 Leaves of Absence. Unless otherwise expressly determined by the Committee or required by applicable law, vesting of
Awards and/or any Shares issuable pursuant to an Award (or exercise thereof), will be treated as follows during a leave of absence of a Participant: 
 10.12.1 Statutory Leave of Absence. Vesting credit will continue during a leave of absence if the leave satisfies each of the following requirements: (a) the leave is approved by the Company,
(b) the leave is mandated by applicable law, and (c) the Participant takes the leave in accordance with such law and complies with applicable Company leave policies (a leave meeting all such requirements being a “Statutory Leave of
Absence”). 
 10.12.2 Approved Personal Leave of Absence. Vesting credit will not continue (and instead will be
tolled or suspended) during any leave of absence that is not a Statutory Leave of Absence (a “Personal Leave of Absence”). For purposes of clarification, a Participant will not be considered to have incurred a Termination of Service during
any Company-approved Personal Leave of Absence so long as the Participant complies with applicable law and applicable Company leave policies. 
 SECTION 11 
 AMENDMENT, TERMINATION, AND DURATION 

11.1 Amendment, Suspension, or Termination. The Board may amend, suspend or terminate the Plan, or any part thereof, at any
time and for any reason. The amendment, suspension, or termination of the Plan shall not, without the consent of the Participant, alter or impair any rights or obligations under any Award theretofore granted to such Participant. No Award may be
granted during any period of suspension or after termination of the Plan. 
 11.2 Duration of the Plan. The Plan
shall be effective as of August 1, 2008, and, subject to Section 11.1, shall remain in effect thereafter. However, without further stockholder approval, no Incentive Stock Option may be granted under the Plan after February 26, 2020.

 SECTION 12 
 TAX WITHHOLDING 
 12.1 Withholding Requirements. Prior to the delivery
of any Shares or cash pursuant to an Award (or exercise thereof), the Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, national, foreign,
state, and local taxes (including the Participant’s FICA, income tax, national insurance, social insurance, payment on account, payroll taxes or other tax-related withholding or similar insurance or tax obligations) required to be withheld with
respect to such Award (or exercise thereof). 

  
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 12.2 Withholding Arrangements. The Committee, pursuant to such procedures as it
may specify from time to time, may permit a Participant to satisfy his or her Tax Obligations, in whole or in part by (a) electing to have the Company withhold otherwise deliverable Shares, or (b) delivering to the Company already-owned
Shares having a Fair Market Value equal to the amount required to be withheld or remitted. The amount of the Tax Obligations shall be deemed to include any amount which the Committee agrees may be withheld at the time the election is made, not to
exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable to the Participant or the Company, as applicable, with respect to the Award on the date that the amount of tax or social insurance
liability to be withheld or remitted is to be determined. The Fair Market Value of the Shares to be withheld or delivered shall be determined as of the date that the Tax Obligations are required to be withheld or remitted, or (c) by any other
procedures set forth in the applicable Award Agreement. 
 SECTION 13 

LEGAL CONSTRUCTION 
 13.1 Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular
shall include the plural. 
 13.2 Severability. In the event any provision of the Plan shall be held illegal or
invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

13.3 Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable
laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 13.4 Securities Law Compliance. With respect to Section 16 Persons, transactions under this Plan are intended to qualify for the exemption provided by Rule 16b-3. To the extent any
provision of the Plan, Award Agreement or action by the Committee fails to so comply, it shall be deemed null and void, to the extent permitted by law and deemed advisable or appropriate by the Committee. 

13.5 Code Section 409A. Unless otherwise specifically determined by the Committee, the Committee shall comply with Code
Section 409A in establishing the rules and procedures applicable to deferrals in accordance with Section 10.4 and taking or permitting such other actions under the terms of the Plan that otherwise would result in a deferral of compensation
subject to Code Section 409A. 
 13.6 Governing Law. The Plan and all Award Agreements shall be construed in
accordance with and governed by the laws of the State of Delaware (with the exception of its conflict of laws provisions). 

13.7 Captions. Captions are provided herein for convenience only, and shall not serve as a basis for interpretation or
construction of the Plan. 

  
 -18-Amended and Restated Employment Agreement with Louis Ferrari

 Exhibit 10.1 
 EXECUTION COPY 
 Confidential treatment has been requested for portions of this
document indicated by [***], 
 which portions are filed separately with the Commission. 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 The Company and Executive entered into an employment agreement dated as of February 7, 2011(the “Original Employment Agreement”), and the parties wish to amend and restate the Original
Employment Agreement as of July 9, 2012 as provided herein. 
 Article 1. Term of Employment 

1.1 The Company hereby agrees to employ the Executive and the Executive hereby agrees to serve the Company in accordance with the terms
and conditions set forth herein, for a period of two years from the Promotion Date. 
 1.2 Commencing on the second anniversary
of the Promotion Date, and each anniversary thereafter, the Term shall automatically be extended for one additional year, unless at least 60 days prior to such anniversary, the Company or the Executive shall have given notice in accordance with
Section 12.2 that it or he does not wish to extend the Term. 
 1.3 Except as otherwise provided herein, this Agreement
shall amend, restate and supersede the Original Employment Agreement. 
 Article 2. Definitions 

2.1 “Agreement” means this Amended and Restated Employment Agreement. 

2.2 “Annual Bonus” means the annual bonus that may be paid to the Executive in accordance with the Company’s annual bonus
program as described in Section 5.3. 
 2.3 “Base Salary” means the salary of record paid to the Executive as
annual salary, pursuant to Section 5.2, excluding amounts received under incentive or other bonus plans, whether or not deferred. 
 2.4 “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under the Securities Exchange Act. 
 2.5 “Beneficiary” means the persons or entities designated or deemed designated by the Executive pursuant to Section 15.6. 

2.6 “Board” means the Board of Directors of the Company. 

2.7 “Cause” means: 
 (a) Executive has materially breached any of the terms of this Agreement and failed to correct such breach within 15 days after written notice thereof from the Company or has materially violated the
Company’s internal policies or procedures or Ethics Code and policies as are in effect as of the date such action is taken by Executive and of which Executive has been notified; 

 (b) Executive has been convicted of, or plead guilty to or nolo contendere to a crime
involving moral turpitude, dishonesty, fraud or unethical business conduct, or any felony of any nature whatsoever; 
 (c)
Executive is found by any governmental authority (State, federal or foreign equivalent), any securities exchange or association or other regulatory or self-regulatory body or agency applicable to Executive, the Company or any affiliate or subsidiary
of the Company to have violated any material law, rule, regulation or by-law of such entity (provided, however, that this section shall not encompass violations of minor traffic regulations or any misdemeanor offenses); 

(d) Executive has breached a fiduciary trust for the purpose of gaining a personal profit, including, without limitation, embezzlement;
or 
 (e) Despite adequate warnings, Executive has intentionally and willfully failed to perform reasonably assigned duties
within the normal and customary scope of the Position. 
 2.8 A “CIC” shall be deemed to have occurred as of the first
day that any one or more of the following conditions is satisfied, provided, in each case, that such event constitutes a “Change of Control Event” within the meaning of Treasury Regulation 1.409A-3(i)(5)(i): 

(a) Any consolidation or merger in which the Company is not the continuing or surviving entity or pursuant to which shares of the Common
Stock would be converted into cash, securities, or other property, other than (i) a merger of the Company in which the holders of the Common Stock immediately prior to the merger have the same proportionate ownership of common stock of the
surviving corporation immediately after the merger, or (ii) a consolidation or merger which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (by being converted into voting
securities of the continuing or surviving entity) more than 50% of the combined voting power of the voting securities of the continuing or surviving entity immediately after such consolidation or merger and which would result in the members of the
Board immediately prior to such consolidation or merger (including for this purpose any individuals whose election or nomination for election was approved by a vote of at least two-thirds of such members) constituting a majority of the Board (or
equivalent governing body) of the continuing or surviving entity immediately after such consolidation or merger; 
 (b) Any
sale, lease, exchange, or other transfer (in one transaction or a series of related transactions) of all or substantially all the Company’s assets, excluding, however, any licensing or partnership transaction with respect to the manufacturing,
sale, marketing and/or distribution of KRYSTEXXA® (pegloticase) in the markets outside of the U.S. and which licensing or partnership transaction would not otherwise constitute a CIC pursuant to Sections 2.8(a), (b), (c), (d) or (e);

  
 2 

 (c) The Company’s stockholders approve any plan or proposal for the liquidation or
dissolution of the Company; 
 (d) Any Person has become the Beneficial Owner of 35% or more of the Common Stock other than
pursuant to a plan or arrangement entered into between such Person and the Company; or 
 (e) During any period of two
consecutive years, individuals who at the beginning of such period constitute the entire Board shall cease for any reason to constitute a majority of the Board unless the election or nomination for election by the Company’s stockholders of each
new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period. 
 2.9 “CIC Severance Benefits” means the payment of severance compensation associated with a Qualifying Termination occurring subsequent to a CIC, as described in Section 8.3. 

2.10 “Code” means the Internal Revenue Code of 1986, as amended. 

2.11 “Common Stock” means the common stock of the Company, $.01 par value per share. 

2.12 “Compensation Committee” means the Compensation and Human Resources Committee of the Board, or the committee appointed by
the Board to perform the functions of such committee, or if no such committee exists, the Board. 
 2.13 “Company”
means Savient Pharmaceuticals, Inc., a Delaware corporation, or any Successor Company thereto as provided in Section 11.1. 

2.14 “Director” means any individual who is a member of the Board. 

2.15 “Disability” or “Disabled” has the meaning ascribed to such term in the Company’s long-term disability
plan, or in any successor to such plan. 
 2.16 “Effective Date” means February 7, 2011. 

2.17 “Effective Date of Termination” means the date on which a termination of the Executive’s employment occurs.

 2.18 “Employment Date” means February 21, 2011. 

2.19 “Executive” means Lou Ferrari who, as of the Promotion Date, resides at [***]. 

2.20 “Good Reason” shall mean, without the Executive’s express written consent, the occurrence of any one or more of the
following: 
 (a) A reduction of the Base Salary; 

  
 3 

 (b) A failure to maintain Executive’s amount of benefits under or relative level of
eligibility for participation in the Company’s employee benefit or retirement plans, policies, practices, or arrangements in which the Executive participates as of the Promotion Date, including any perquisite program; provided,
however, that any such change that applies consistently to all executive officers of the Company or is required by applicable law shall be deemed not to constitute Good Reason; 

(c) A failure to require any Successor Company to assume and agree to perform the Company’s obligations hereunder; 

(d) Requiring Executive to be based at a location that requires the Executive to travel more than an additional 35 miles per day;

 (e) Requiring Executive to report to any position or entity other than the Board; 

(f) Demoting Executive to a level lower than the Position; 
 (g) Any material change by the Company in Executive’s duties or responsibilities inconsistent with the terms hereof or the assignment to Executive by the Company of duties or responsibilities
inconsistent with the Position; 
 (h) The Company’s failure to extend the Term pursuant to Section 1.2 (if the
Agreement would expire unless the Term is extended within such period), as evidenced by a Notice of Termination delivered by the Company to the Executive; or 
 (i) A material breach of any material provision of this Agreement by the Company or a Successor Company which, if curable, is not cured within 30 days of receiving a written notice from the Executive with
such notice explaining in reasonable detail the facts and circumstances claimed to provide a basis for the Executive’s claim. 
 2.21 “Notice of Termination” means a written notice indicating the specific termination provision in this Agreement relied upon, and that sets forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Executive’s employment under the provisions so indicated, and, where applicable, which shall specifically include notice pursuant to Section 1.2 that Company has elected not
to extend the Term. 
 2.22 “Payment Date” shall have the meaning ascribed to it in Section 15.12. 

2.23 “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Securities Exchange Act and used in
Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 
 2.24
“Position” shall have the meaning ascribed to it in Section 3.1. 
 2.25 “Promotion Date” means
July 9, 2012. 

  
 4 

 2.26 “Qualifying Termination” means any of the events described in
Section 8.2, the occurrence of which triggers the payment of CIC Severance Benefits hereunder. 
 2.27 “Release”
shall have the meaning ascribed to it in Section 15.12. 
 2.28 “Securities Exchange Act” means the Securities
Exchange Act of 1934, as amended. 
 2.29 “Section 409A” shall have the meaning ascribed to it in
Section 9(a)(i). 
 2.30 “Severance Benefits” means the payment of severance compensation as provided in Sections
7.4 and 7.6, and not payable due to a CIC. 
 2.31 “Six-Month Payment Date” shall have the meaning ascribed to it in
Section 10.1. 
 2.32 “Successor Company” means any company that (i) acquires more than 50% of the assets of
the Company or (ii) acquires more than 50% of the outstanding stock of the Company, or (iii) is the surviving entity in the event of a CIC. 
 2.33 “Term” shall mean that period of time commencing on the Promotion Date and ending on the Effective Date of Termination. 

Article 3. Position and Responsibilities 
 3.1 During the Term, the Executive agrees to accept the promotion to and to serve as President and Chief Executive Officer of the Company, reporting to the Board (the “Position”). The Executive
shall also serve as a member of the Board during the Term. 
 Article 4. Standard of Care 

4.1 During the Term, the Executive shall devote substantially his full time, attention, and energies to the Company’s business and
shall not be engaged in any other business activity, whether or not such business activity is pursued for gain, profit, or other pecuniary advantage, unless such business activity is approved by the Board or Compensation Committee. However,
following the second anniversary of the Employment Date, subject to Article 13 and with the approval of the Nominating & Corporate Governance Committee and the Board, the Executive may serve as a director of up to one (1) other company
so long as such service is not injurious to the Company. To the extent that such activities do not inhibit Executive from performing his duties to the Company, nothing in this Agreement shall preclude Executive from (a) service to any civic,
religious, charitable or similar type organization, (b) public speaking engagements, and (c) management of personal and family investments. The duties and services to be performed by Executive hereunder shall be substantially rendered at
the Company’s principal offices, except for reasonable travel on the Company’s business incident to the performance of Executive’s duties. 

  
 5 

 Article 5. Compensation 

5.1 As remuneration for all services to be rendered by the Executive during the Term, and as consideration for complying with the
covenants herein, the Company shall pay and provide to the Executive those items set forth in Sections 5.2 through 5.8. 
 5.2
The Company shall pay the Executive a Base Salary in an amount established from time to time by the Board or the Compensation Committee; provided, however, that such Base Salary shall not be at an annualized rate of less than Five
Hundred Thousand Dollars ($500,000.00) per year; and provided, further, that the Executive’s Base Salary at any time during the Term shall not be reduced without the Executive’s written permission. 

(a) This Base Salary shall be paid to the Executive in equal installments throughout the year, consistent with the normal payroll
practices of the Company. 
 (b) The Base Salary shall be reviewed at least annually during the Term, to ascertain whether, in
the judgment of the Board or Compensation Committee, such Base Salary should be changed based primarily on the performance of the Executive during the year. 
 5.3 Annual Bonus. In addition to the Base Salary, the Executive shall be entitled to participate in the Company’s annual short-term incentive program, as such program may exist from time to
time, at a level commensurate with the Position. The percentage of Base Salary targeted as annual short-term incentive compensation shall be 65%of Base Salary (the “Targeted Annual Bonus Award”), prorated for the first calendar year of the
Term and blended with Executive’s previous Targeted Annual Bonus Award as provided in the Original Employment Agreement. Executive acknowledges that the amount of annual short-term incentive, if any, to be awarded shall be at the sole
discretion of the Board or Compensation Committee, may be less or more than the Targeted Annual Bonus Award, and will be based on a number of factors set in advance by the Board or Compensation Committee for each calendar year, including the
Company’s performance and the Executive’s individual performance. Nothing in this Section 5.3 shall be construed as obligating the Company, the Board or the Compensation Committee to refrain from changing, and/or amending the
short-term incentive program, so long as such changes are equally applicable to all executive employees of the Company. 
 5.4
Long-Term Incentives. In addition to the awards granted to Executive prior to the Promotion Date, the Company shall grant to the Executive on the Promotion Date the following long-term incentive awards. Notwithstanding anything to the
contrary in this Agreement, the terms of Section 1.3 of the Original Employment Agreement and the terms of the $550,000 cash retention award (the “Cash Retention Award”) and the 310,000 restricted share retention award (the
“Restricted Stock Retention Award”) granted to Executive on February 1, 2012 shall remain in full force and effect. 
 (a) Time-Based Stock Options. A stock option to purchase 150,000 shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on
the Promotion Date, a ten year term, and that will vest and become exercisable as follows: 75,000 on the first anniversary of the Promotion Date; and 75,000 on the second anniversary of the Promotion Date. 

  
 6 

 (b) Performance-Based Stock Options. A stock option to purchase 150,000 shares of the
Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the Promotion Date, a ten year term, and that will vest and become exercisable: 

(1) as to the initial 37,500 shares when a share price for the common stock of the Company of $[***] or higher is achieved and
maintained for any period of 30 consecutive calendar days; 
 (2) as to an additional 37,500 shares when a share price for the
common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days; 

(3) as to an additional 37,500 shares when a share price for the common stock of the Company of $[***] or higher is achieved and
maintained for any period of 30 consecutive calendar days; and 
 (4) as to an additional 37,500 shares when a share price for
the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days. 
 Executive and
the Company agree that it is intended that each portion specified in Section 5.4(b)(1) through 5.4(b)(4) as allocable to a specified performance condition shall vest only once, however, previously unvested portions will be aggregated when and
if a higher specified performance condition is achieved. 
 In the event that any performance condition set out above in Section 5.4(b)(1)
through 5.4(b)(4) is not met on or before the second anniversary of the Promotion Date then the portion of the stock option related to such performance condition shall lapse and no longer be outstanding. 

(c) Contingent Cash Award. A contingent cash award in the target amount of One Million Three Hundred Thousand Dollars
($1,300,000.00) (the “Target”) that will vest and become payable for up to 200% of the Target as follows: 
 (1) as
to $650,000 when a share price for the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days; 
 (2) as to an additional $650,000 when a share price for the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days; 

(3) as to an additional $650,000 when a share price for the common stock of the Company of $[***] or higher is achieved and maintained
for any period of 30 consecutive calendar days; 

  
 7 

 (4) as to a final additional $650,000 when a share price for the common stock of the
Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days. 
 Executive and the
Company agree that it is intended that each portion of the contingent cash award specified in Section 5.4(c)(1) through 5.4(c)(5) as allocable to a specified performance condition shall be payable only once, however, previously unpaid portions
will be aggregated when and if a higher specified performance condition is achieved. In the event that any performance condition set out above in Section 5.4(c)(1) through 5.4(c)(5) is not met on or before the second anniversary of the
Promotion Date then the portion of the contingent cash award related to such performance condition shall lapse and no longer be outstanding. Payment of any vested portion of the contingent cash award shall occur in the next Company regular payroll
cycle following the certification of the achievement of the subject performance condition by the Board, which certification shall occur at the next regularly scheduled meeting of the Board following the achievement of the subject performance
condition, but in no event shall the payment occur after the 90th day following such achievement (or, if earlier, March 15th of the calendar year following the year in which the subject performance condition was achieved). Furthermore, the Company reserves the right to substitute payment of the vested portion of the contingent
cash award to be made pursuant to Sections 5.4(c)(4) or 5.4(c)(5) above with a grant of fully vested shares of the Company’s common stock equal in value to the vested portion of the contingent cash award (provided, however, the Company shall
have the right to retain, and the Executive shall have the right to elect to tender to the Company, such shares of the Company’s common stock to satisfy, in whole or in part, the amount required to be withheld (provided that such amount shall
not be in excess of the minimum amount required to satisfy the statutory withholding tax obligations) as the result of such payment). 
 (d) The Executive shall also be eligible to participate in the Company’s long-term incentive plan, as such shall be amended or superseded from time to time; provided, however, that,
except with respect to the long-term incentive awards granted to Executive pursuant to Sections 5.4 (a), (b) and (c) and pursuant to the terms of Section 1.3 of the Original Employment Agreement and the Cash Retention Award and the
Restricted Stock Retention Award which may not be changed or amended without the written consent of Executive, nothing in this Section 5.4 shall be construed as obligating the Company, the Board or the Compensation Committee to refrain from
changing, and/or amending the long-term incentive plan, so long as such changes are equally applicable to all executive employees of the Company. 
 5.5 Retirement Benefits. The Company shall permit the Executive to participate in any Company qualified defined benefit and defined contribution retirement plans as may be established during the
Term; provided, however, that nothing in this Section 5.5 shall be construed as obligating the Company, the Board or the Compensation Committee to refrain from changing, and/or amending the nonqualified retirement programs, so
long as such changes are equally applicable to all executive employees of the Company. 
 5.6 Employee Benefits. During
the Term, and as otherwise provided within the provisions of each of the respective plans, the Company shall make available to the Executive all benefits to which other executives and employees of the Company are entitled to receive, as commensurate
with the Position, subject to the eligibility requirements and other provisions of such arrangements as applicable to executives of the Company generally. 

  
 8 

 (a) Such benefits shall include, but shall not be limited to, comprehensive health and major
medical insurance, dental and life insurance, and short-term and long-term disability. 
 (b) The Executive may likewise
participate in any additional benefit as may be established during the Term, by written policy of the Company. 
 5.7
Vacation. The Executive shall accrue such paid vacation as is customary for the Position in corporate institutions of similar size and character in the determination of the Board or Compensation Committee, but in any event not less than 25
paid vacation days during each calendar year; provided, however, that with prior approval of the Board or Compensation Committee, Executive may carry forward into the next year up to 10 unused vacation days from the current year.

 5.8 The Company shall provide to the Executive, at the Company’s expense, such perquisites as the Board or Compensation
Committee may determine from time to time to provide; provided, however, that Executive shall receive perquisites at least at the same level as other executives of the Company. 

5.9 Right to Change Plans. Except with respect to the long-term incentive awards granted to Executive pursuant to Sections 5.4
(a), (b) and (c) and pursuant to the terms of Section 1.3 of the Original Employment Agreement and the Cash Retention Award and the Restricted Stock Retention Award which may not be changed, amended or discontinued without the written
consent of Executive, the Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing any benefit plan, program, or perquisite, so long as such changes are equally applicable to all executive employees
of the Company. 
 Article 6. Expenses 
 6.1 Upon presentation of appropriate documentation, the Company shall pay, or reimburse the Executive for all ordinary and necessary expenses, in a reasonable amount, which the Executive incurs in
performing his duties under this Agreement including, but not limited to, travel, entertainment, professional dues and subscriptions, and dues, fees, and expenses associated with membership in appropriate professional, business, and civic
associations and societies. All such reimbursements shall be subject to the terms and conditions set forth in Section 9(c). 

Article 7. Employment Terminations 
 7.1 Termination Due to Death. In the event the Executive’s employment is terminated during the Term by reason of death, subject to Section 7.1(g), the Company’s obligations under
this Agreement shall immediately expire. Notwithstanding the foregoing, the Company shall be obligated to pay to the Executive the following: 
 (a) Base Salary through the Effective Date of Termination; 

  
 9 

 (b) An amount equal to the Executive’s unpaid Targeted Annual Bonus
Award, established for the fiscal year in which such termination is effective, multiplied by a fraction, the numerator of which is the number of completed days in the then-existing fiscal year through the Effective Date of Termination, and the
denominator of which is 365. Additionally, if such termination is effective after January 1st of any calendar year but prior to the payment of the Executive’s Annual Bonus (if any) for the prior calendar year, then the Executive shall be entitled to receive the full amount of the Annual
Bonus (if any) for the prior calendar year as determined by the Board in its sole discretion based upon the Executive’s performance for the prior calendar year. Additionally, if such termination is effective after a specified performance
condition under 5.4(c)(1) through 5.4(c)(5) has been achieved, but prior to payment of the related portion of the contingent cash award, such amount shall be paid to the Executive.; 

(c) All outstanding long-term incentive awards shall be subject to the treatment provided under the applicable award agreements and
long-term incentive plan of the Company; 
 (d) Accrued but unused vacation pay through the Effective Date of Termination; and

 (e) All other rights and benefits the Executive is vested in, pursuant to other plans and programs of the Company.

 (f) The unpaid portion of the Cash Retention Award shall vest and be immediately payable upon the Effective Date of
Termination. 
 (g) The benefits described in Sections 7.1(a), (b), (d) and (f) shall be paid in cash to the Executive
in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event more than 30 days after such date. All other payments due to the Executive upon termination of employment, including those described in Sections
7.1(c) and (e), shall be paid in accordance with the terms of such applicable plans or programs. 
 (h) With the exception of
Articles 8, 9, 10, 11, 12, 15 and 16 and Section 7.1 (which shall survive such termination), the Company and the Executive shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this
Section 7.1. 
 7.2 Termination Due to Disability. In the event that the Executive becomes Disabled during the Term
and is, therefore, unable to perform his duties for more than 180 total calendar days during any period of 12 consecutive months, or in the event of the Board’s reasonable expectation that the Executive’s Disability will exist for more
than a period of 180 calendar days, the Company shall have the right to terminate the Executive’s employment as provided in this Section 7.2. 
 (a) The Board shall deliver written notice to the Executive of the Company’s intent to terminate for Disability at least 30 calendar days prior to the Effective Date of Termination. 

  
 10 

 (b) Determinations of Executive’s Disability shall be determined by the Board upon
receipt of and in reliance on competent medical advice from one or more individuals, selected by the Board who are qualified to give such professional medical advice. 
 (c) A termination for Disability shall become effective upon the end of the 30-day notice period. Upon the Effective Date of Termination, subject to Section 7.2(f), the Company’s obligations
under this Agreement shall immediately expire. 
 (d) Notwithstanding the foregoing, the Company shall be obligated to pay to
the Executive the following: 
 (1) Base Salary through the Effective Date of Termination; 

(2) An amount equal to the Executive’s unpaid Targeted Annual Bonus Award established for the fiscal year in
which the Effective Date of Termination occurs, multiplied by a fraction, the numerator of which is the number of completed days in the then-existing fiscal year through the Effective Date of Termination, and the denominator of which is 365.
Additionally, if such termination is effective after January 1st of any calendar year but prior to the payment of the Executive’s Annual Bonus (if any) for the prior calendar year, then the Executive shall be entitled to receive the full amount of the Annual
Bonus (if any) for the prior calendar year as determined by the Board in its sole discretion based upon the Executive’s performance for the prior calendar year. Additionally, if such termination is effective after a specified performance
condition under 5.4(c)(1) through 5.4(c)(5) has been achieved, but prior to payment of the related portion of the contingent cash award, such amount shall be paid to the Executive.; 

(3) All outstanding long-term incentive awards shall be subject to the treatment provided under the applicable award agreements and
long-term incentive plan of the Company; 
 (4) Accrued but unused vacation pay through the Effective Date of Termination; and

 (5) All other rights and benefits the Executive is vested in, pursuant to other plans and programs of the Company.

 (6) The unpaid portion of the Cash Retention Award shall vest and be immediately payable upon the Effective Date of
Termination. 
 (e) The benefits described in Sections 7.2(d)(1), (4) and (6) shall be paid in cash to the Executive
in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event later than 30 days after such date. The payments due to the Executive under Section 7.2(d)(2) shall be paid in a lump sum on the Payment
Date (as defined in Section 15.12). All other payments due to the Executive upon termination of employment, including those in Sections 7.2(d)(3) and (d)(5), shall be paid in accordance with the terms of such applicable plans or program.

  
 11 

 (f) With the exception of the covenants contained in Articles 8, 9, 10, 11, 12, 13, 15 and
16 and Section 7.2 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this Section 7.2.

 7.3 Voluntary Termination by the Executive. The Executive may terminate this Agreement at any time without Good Reason
by giving the Board Notice of Termination at least 14 calendar days (60 calendar days when termination is due to non-extension of the Term by the Executive pursuant to Section 1.2) prior to the Effective Date of Termination. 

(a) The termination automatically shall become effective upon the expiration of the 14 or 60-day notice period, as applicable.
Notwithstanding the foregoing, the Company may waive the 14 or 60-day notice period, as applicable; provided, however, that the Executive shall be entitled to receive all elements of compensation described in Sections 5.1 through 5.6
for the applicable notice period, subject to the eligibility and participation requirements of any qualified retirement plan. 

(b) Upon the Effective Date of Termination, following the expiration of the 14 or 60-day notice period, the Company shall pay the
Executive his full Base Salary and accrued but unused vacation pay, at the rate then in effect, through the Effective Date of Termination, plus all other benefits to which the Executive has a vested right at that time (for this purpose, the
Executive shall not be paid any Annual Bonus, prorated or otherwise, with respect to the fiscal year in which voluntary termination under this Section occurs). 
 (c) With the exception of Articles 8, 9, 10, 11, 12, 13, 15 and 16 and Section 7.3 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations
under this Agreement following the Effective Date of Termination pursuant to this Section 7.3. 
 7.4 Involuntary
Termination by the Company without Cause. At all times during the Term, the Board may terminate the Executive’s employment for reasons other than death, Disability, or for Cause, by providing to the Executive a Notice of Termination, at
least 60 calendar days prior to the Effective Date of Termination; provided, however, that such notice shall not preclude the Company from requiring Executive to leave the Company immediately upon receipt of such notice. For the
avoidance of doubt, when termination is due to non-extension of the Term by the Company pursuant to Section 1.2, the provisions of this Section 7.4 shall apply. 
 (a) Such Notice of Termination shall be irrevocable absent express, mutual consent of the parties. 
 (b) Upon the Effective Date of Termination (not a Qualifying Termination), following the expiration of the 60-day notice period, the Company shall pay and provide to the Executive: 

(1) An amount equal to 1.5 times the Executive’s annual Base Salary established for the fiscal year in which the Effective Date of
Termination occurs; 

  
 12 

 (2) An amount equal to 1.5 times the Executive’s Targeted Annual Bonus Award
established for the fiscal year in which the Effective Date of Termination occurs; 
 (3) A continuation of the welfare
benefits of health care, life and accidental death and dismemberment, and disability insurance coverage (or if continuation under the Company’s then current plans is not allowed, then provision at the Company’s expense but subject to
payment by Executive of those payments which Executive would have been obligated to make under the Company’s then current plan, of substantially similar welfare benefits from one or more third party providers) for a period of 24 months after
the Effective Date of Termination. Such benefits (or payments in lieu thereof) shall be provided or paid in accordance with the Company’s regular payroll practice applicable to such benefits. These benefits shall be provided to the Executive at
the same coverage level as in effect as of the Effective Date of Termination, and at the same premium cost to the Executive which was paid by the Executive at the time such benefits were provided. However, in the event the premium cost and/or level
of coverage shall change for all employees of the Company, or for management employees with respect to supplemental benefits, the cost and/or coverage level, likewise, shall change for the Executive in a corresponding manner. The continuation of
these welfare benefits shall be discontinued if prior to the expiration of the 24 month period, the Executive has available substantially similar benefits at a comparable cost to the Executive from a subsequent employer, as determined by the Board
or Compensation Committee; 
 (4) Any time vesting long-term incentive awards granted on or after the Promotion Date that would
vest based solely on the passage of time (rather than vesting based on performance conditions) and which would vest within twelve (12) months of the Effective Date of Termination shall accelerate, and become fully vested and exercisable, as
applicable, and all restrictions to which such awards may be subject shall immediately lapse. Any outstanding equity awards granted to the Executive prior to the Promotion Date that vest based solely on the passage of time (rather than performance
conditions) shall accelerate and become fully vested and exercisable, as applicable, and all restrictions to which such awards may be subject shall immediately lapse. All vested options shall remain exercisable for a period of twelve months after
the Effective Date of Termination (but in no event shall be exercisable after the date that is ten years after the option’s date of grant). Except as otherwise provided herein or in the Original Employment Agreement, all outstanding long-term
incentive awards shall otherwise be subject to the treatment provided under the applicable long-term incentive plan of the Company; 
 (5) An amount equal to the Executive’s unpaid Base Salary and accrued but unused vacation pay through the Effective Date of Termination; and 

(6) All other benefits to which the Executive has a vested right at the time, according to the provisions of the governing plan or
program. 
 (7) If such termination of Executive’s employment without Cause is effective after
January 1st of any calendar year but prior to the
payment of the Executive’s Annual Bonus (if any) for the prior calendar year, then the Executive shall be entitled to receive the full amount of the Annual Bonus (if any) for the prior calendar year as determined by the Board in its sole
discretion based upon the Executive’s performance for the prior calendar year. 

  
 13 

 
Additionally, if such termination is effective after a specified performance condition under 5.4(c)(1) through 5.4(c)(5) has been achieved, but prior to payment of the related portion of the
contingent cash award, such amount shall be paid to the Executive. 
 (8) The unpaid portion of the Cash Retention Award shall
vest and be immediately payable upon the Effective Date of Termination. 
 (c) In the event that the Board terminates the
Executive’s employment without Cause on or after the date of the announcement of the transaction which leads to a CIC, the Executive shall be entitled to the CIC Severance Benefits as provided in Section 8.3 in lieu of the Severance
Benefits outlined in this Section 7.4; provided, however, that to the extent the Executive terminates employment prior to the CIC, the CIC Severance Benefits shall be paid on the same schedule as the Severance Benefits.

 (d) Payment of all but 10% of the benefits described in Section 7.4(b)(1), and payment of all but 10% of the benefits
described in Section 7.4(b)(2) shall be paid in cash to the Executive in equal bi-weekly installments over a period of 18 months and beginning on the Payment Date, subject to the provisions of Article 9. The amounts that were withheld shall be
paid in cash to the Executive in a single lump sum at the end of the 6-month restrictive period set forth in Section 13.3 The amount payable under Sections 7.4(b)(5), (7) and (8) shall be paid in cash to the Executive in a single lump
sum as soon as practicable following the Effective Date of Termination, but in no event later than 30 days after such date. 

(e) Except as specifically provided in Section 7.4(d), all other payments due to the Executive upon termination of employment shall
be paid in accordance with the terms of such applicable plans or programs. 
 (f) With the exception of Articles 8, 9, 10, 11,
12, 13, 14 and 15 and Section 7.4 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this
Section 7.4. 
 (g) Notwithstanding anything herein to the contrary, and subject to the provisions of Section 409A of
the Code, the Company’s payment obligations under this Section 7.4 shall be offset by any amounts that the Company is required to pay to the Executive under a national statutory severance program applicable to such Executive. 

7.5 Termination for Cause. Nothing in this Agreement shall be construed to prevent the Board from terminating the Executive’s
employment under this Agreement for Cause. 
 (a) To be effective, the Notice of Termination must set forth in reasonable detail
the facts and circumstances claimed to provide a basis for such termination for Cause. 
 (b) In the event this Agreement is
terminated by the Board for Cause, the Company shall pay the Executive his Base Salary and accrued vacation pay through the Effective Date of Termination, and the Executive shall immediately thereafter forfeit all rights and benefits (other than
vested benefits) he would otherwise have been entitled to receive under this Agreement. The Company and the Executive thereafter shall have no further obligations under 

  
 14 

 
this Agreement following the Effective Date of Termination pursuant to this Section 7.5 with the exception of the covenants contained in Articles 8, 9, 10, 11, 12, 13, 14 and 15 and
Section 7.5 (which shall survive such termination). 
 7.6 Termination for Good Reason. The Executive shall have 60
days from the date he learns of action taken by the Company or the occurrence of an event that allows the Executive to terminate his employment for Good Reason to provide the Board with a Notice of Termination. 

(a) The Notice of Termination must set forth in reasonable detail the facts and circumstances claimed to provide a basis for such Good
Reason termination. 
 (b) The Company shall have 30 days to cure such Company action following receipt of the Notice of
Termination. 
 (c) The Executive is required to continue his employment for the 60-day period following the date in which he
provided the Notice of Termination to the Board. The Company may waive the sixty 60-day notice period; however, the Executive shall be entitled to receive all elements of compensation described in Sections 5.2, 5.4, 5.5 and 5.6 for the 60-day
notice period, subject to the eligibility and participation requirements of any qualified retirement plan. 
 (d) Upon a
termination of the Executive’s employment for Good Reason during the Term, and following the expiration of the 60-day notice period, the Company shall pay and provide to the Executive the following: 

(1) Where the Effective Date of Termination occurs before the first anniversary of the Promotion Date, an amount equal to 1.0 times the
Executive’s annual Base Salary established for the fiscal year in which the Effective Date of Termination occurs, and on or after the first anniversary of the Promotion Date an amount equal to 1.5 times the Executive’s annual Base Salary
established for the fiscal year in which the Effective Date of Termination occurs; 
 (2) Where the Effective Date of
Termination occurs before the first anniversary of the Promotion Date, an amount equal to 1.0 times the Executive’s Targeted Annual Bonus Award established for the fiscal year in which the Effective Date of Termination occurs, and on or after
the first anniversary of the Promotion Date an amount equal to 1.5 times the Executive’s Targeted Annual Bonus Award established for the fiscal year in which the Effective Date of Termination occurs; 

(3) A continuation of the welfare benefits of health care, life and accidental death and dismemberment, and disability insurance
coverage for 24 months after the Effective Date of Termination (or if continuation under the Company’s then current plans is not allowed, then provision at the Company’s expense but subject to payment by Executive of those payments which
Executive would have been obligated to make under the Company’s then current plan, of substantially similar welfare benefits from one or more third party providers). Such benefits (or payments in lieu thereof) shall be provided or paid in
accordance with the Company’s regular payroll practice applicable to such benefits. These benefits shall be provided to the Executive at the same coverage level, as in effect as of the Effective Date of Termination

  
 15 

 
and at the same premium cost to the Executive which was paid by the Executive at the time such benefits were provided. However, in the event the premium cost and/or level of coverage shall change
for all employees of the Company, or for management employees with respect to supplemental benefits, the cost and/or coverage level, likewise, shall change for the Executive in a corresponding manner. The continuation of these welfare benefits shall
be discontinued prior to the end of the two-year period in the event the Executive has available substantially similar benefits at a comparable cost to the Executive from a subsequent employer, as determined by the Board or Compensation Committee;

 (4) Any time vesting long-term incentive awards granted on or after the Promotion Date that would vest based solely on the
passage of time (rather than vesting based on performance conditions) and which would vest within twelve (12) months of the Effective Date of Termination shall accelerate, and become fully vested and exercisable, as applicable, and all
restrictions to which such awards may be subject shall immediately lapse. Any outstanding equity awards granted to the Executive prior to the Promotion Date that vest based solely on the passage of time (rather than performance conditions) shall
accelerate and become fully vested and exercisable, as applicable, and all restrictions to which such awards may be subject shall immediately lapse. All vested options shall remain exercisable for a period of twelve months after the Effective Date
of Termination (but in no event shall be exercisable after the date that is ten years after the option’s date of grant). Except as otherwise provided herein or in the Original Employment Agreement, all outstanding long-term incentive awards
shall otherwise be subject to the treatment provided under the applicable long-term incentive plan of the Company. 
 (5) If such termination of Executive’s employment for Good Reason is effective after January 1st of any calendar year but prior to the payment of the Executive’s Annual Bonus (if any) for the prior calendar
year, then the Executive shall be entitled to receive the full amount of the Annual Bonus (if any) for the prior calendar year as determined by the Board in its sole discretion based upon the Executive’s performance for the prior calendar year.
Additionally, if such termination is effective after a specified performance condition under 5.4(c)(1) through 5.4(c)(5) has been achieved, but prior to payment of the related portion of the contingent cash award, such amount shall be paid to the
Executive. 
 (6) An amount equal to the Executive’s unpaid Base Salary and accrued but unused vacation pay through the
Effective Date of Termination; and 
 (7) All other benefits to which the Executive has a vested right at the time, according
to the provisions of the governing plan or program. 
 (e) In the event of termination of Executive’s employment for Good
Reason on or after the date of the announcement of the transaction which leads to the CIC and up to 12 months following the date of the CIC, the Executive shall be entitled to the CIC Severance Benefits as provided in Section 8.3 in lieu of the
Severance Benefits outlined in this Section 7.6; provided, however, that to the extent the Executive terminates employment prior to the CIC, the CIC Severance Benefits shall be paid on the same schedule as the Severance Benefits.

  
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 (f) The Executive’s right to terminate employment for Good Reason shall not be affected
by the Executive’s incapacity due to physical or mental illness unless such incapacity is determined to constitute a Disability as provided herein. 
 (g) Payment of all but 10% of the benefits described in Section 7.6(d)(1) and payment of all but 10% of the benefits described in Section 7.6(d)(2) shall be paid in cash to the Executive in
equal bi-weekly installments over a period of consecutive months equal to 18 months and beginning on the Payment Date, subject to Article 9. The amounts that were withheld shall be paid in cash to the Executive in a single lump sum at the end of the
6-month restrictive period set forth in Section 13.2 of this Agreement. The amount payable under Sections 7.6(d)(5), (6) and (8) shall be paid in cash to the Executive in a single lump sum as soon as practicable following the
Effective Date of Termination, but in no event later than 30 days after such date. 
 (h) Except as specifically provided in
Section 7.6(g), all other payments due to the Executive upon termination of employment shall be paid in accordance with the terms of such applicable plans or programs. 
 (i) With the exceptions of Articles 8, 9, 10, 11, 12, 13, 14 and 15 and Section 7.6 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations
under this Agreement following the Effective Date of Termination pursuant to this Section 7.6. 
 Article 8. Change in
Control 
 8.1 Employment Termination Following a CIC. The Executive shall be entitled to receive from the Company
CIC Severance Benefits if a Notice of Termination for a Qualifying Termination of the Executive has been delivered; provided, that: 
 (a) The Executive shall not be entitled to receive CIC Severance Benefits if he is terminated for Cause (as provided in Section 7.5), or if his employment with the Company ends due to death, or
Disability, or due to voluntary termination of employment by the Executive without Good Reason. 
 (b) CIC Severance Benefits
shall be paid in lieu of all other benefits provided to the Executive under the terms of this Agreement. 
 8.2 Qualifying
Termination. The occurrence of any one or more of the following events during the period commencing on the date of the announcement of the transaction which leads to the CIC and ending 12 months following the date of the CIC shall trigger the
payment of CIC Severance Benefits to the Executive under this Agreement: 
 (a) An involuntary termination of the
Executive’s employment by the Company for reasons other than Cause, death, or Disability, as evidenced by a Notice of Termination delivered by the Company to the Executive; 

(b) A voluntary termination by the Executive for Good Reason as evidenced by a Notice of Termination delivered to the Company by the
Executive; 

  
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 (c) Termination by the Executive of his employment due to the Company’s failure to
extend the Term (if the Agreement would expire unless the Term is extended within such period), as evidenced by a Notice of Termination delivered by the Company to the Executive; or 

(d) Termination by the Executive of his employment due to the Company or any Successor Company materially breaching any material
provision of this Agreement which is not cured within 30 days of receiving a written notice from the Executive with such notice explaining in reasonable detail the facts and circumstances claimed to provide a basis for the Executive’s claim.

 8.3 Severance Benefits Paid upon a Qualifying Termination. In the event the Executive becomes entitled to receive CIC
Severance Benefits, the Company shall pay to the Executive and provide him the following: 
 (a) An amount equal to 2 times the
Executive’s annual Base Salary established for the fiscal year in which the Effective Date of Termination occurs; 
 (b) An
amount equal to 2 times the Executive’s Targeted Annual Bonus Award established for the fiscal year in which the Executive’s Effective Date of Termination occurs; 
 (c) An amount equal to the Executive’s unpaid Base Salary and accrued but unused vacation pay through the Effective Date of Termination; 

(d) Upon a CIC, all outstanding long-term incentive awards shall accelerate, and become fully vested and exercisable, as applicable, and
all restrictions to which such awards may be subject shall immediately lapse. The long-term incentive awards shall otherwise be subject to the treatment provided under the applicable long-term incentive plan of the Company; 

(e) If such termination of Executive’s employment is effective after January 1st of any calendar year but prior to the payment of the
Executive’s Annual Bonus (if any) for the prior calendar year, then the Executive shall be entitled to receive the full amount of the Annual Bonus (if any) for the prior calendar year as determined by the Board in its sole discretion based upon
the Executive’s performance for the prior calendar year. 
 (f) The unpaid portion of the Cash Retention Award shall vest
and be immediately payable upon the Effective Date of Termination. 
 (g) A continuation of the welfare benefits of health care,
life and accidental death and dismemberment, and disability insurance coverage for 30 months after the Effective Date of Termination (or if continuation under the Company’s then current plans is not allowed, then provision at the Company’s
expense but subject to payment by Executive of those payments which Executive would have been obligated to make under the Company’s then current plan, of substantially similar welfare benefits from one or more third-party providers). Such
benefits (or payments in lieu thereof) shall be provided or paid in accordance with the Company’s regular payroll practice applicable to such benefits. 

  
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 (1) These benefits shall be provided to the Executive at the same coverage level, as in
effect as of the Effective Date of Termination or, if greater, as in effect 60 days prior to the date of the CIC, and at the same premium cost to the Executive which was paid by the Executive at the time such benefits were provided. 

(2) In the event the premium cost and/or level of coverage shall change for all employees of the Company, or for management employees
with respect to supplemental benefits, the cost and/or coverage level, likewise, shall change for the Executive in a corresponding manner. 
 (3) The continuation of these welfare benefits shall be discontinued prior to the end of the 30 month period in the event the Executive has available substantially similar benefits at a comparable cost to
the Executive from a subsequent employer, as determined by the Board or Compensation Committee. 
 8.4 Form and Timing of
Severance Benefit. Payment of all of the benefits described in Sections 8.3(a) through (b) shall be paid in cash to the Executive in a single lump sum on the Payment Date, subject to Article 9. The amount payable under Sections 8.3(c),
8.3(e) and 8.3(f) shall be paid in cash to the Executive in a single lump sum as soon as practicable following the Effective Date of Termination, but in no event later than 30 days after such date. All other payments due to the Executive upon
termination of employment shall be paid in accordance with the terms of such applicable plans or programs. 
 8.5 Excise
Taxes. 
 (a) Notwithstanding any other provision of this Agreement, except as set forth in Section 8.5(b), in the
event that the Company undergoes a “Change in Ownership or Control” (as defined below), the Company shall not be obligated to provide to the Executive a portion of any “Contingent Compensation Payments” (as defined below) that
the Executive would otherwise be entitled to receive to the extent necessary to eliminate any “excess parachute payments” (as defined in Section 280G(b)(1) of the Internal Revenue Code of 1986, as amended (the “Code”)) for
the Executive. For purposes of this Section 8.5, the Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated Payments” and the aggregate amount (determined in accordance with Treasury Regulation
Section 1.280G-1, Q/A-30 or any successor provision) of the Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated Amount.” 
 (b) Notwithstanding the provisions of Section 8.5(a), no such reduction in Contingent Compensation Payments shall be made if (i) the Eliminated Amount (computed without regard to this sentence)
exceeds (ii) 110% of the aggregate present value (determined in accordance with Treasury Regulation Section 1.280G-1, Q/A-31 and Q/A-32 or any successor provisions) of the amount of any additional taxes that would be incurred by the
Executive if the Eliminated Payments (determined without regard to this sentence) were paid to him (including, state and federal income taxes on the Eliminated Payments, the excise tax imposed by Section 4999 of the Code payable with respect to
all of the Contingent Compensation Payments in excess of the Executive’s “base amount” (as defined in Section 280G(b)(3) of the Code), and any withholding taxes). The override of such reduction in Contingent Compensation Payments

  
 19 

 
pursuant to this Section 4.3(b) shall be referred to as a “Section 8.5(b) Override.” For purpose of this paragraph, if any federal or state income taxes would be attributable to
the receipt of any Eliminated Payment, the amount of such taxes shall be computed by multiplying the amount of the Eliminated Payment by the maximum combined federal and state income tax rate provided by law. 

(c) For purposes of this Section 8.5 the following terms shall have the following respective meanings: 

(1) “Change in Ownership or Control” shall mean a change in the ownership or effective control of the Company or in the
ownership of a substantial portion of the assets of the Company determined in accordance with Section 280G(b)(2) of the Code. 
 (2) “Contingent Compensation Payment” shall mean any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified
individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company. 

(d) Any payments or other benefits otherwise due to the Executive following a Change in Ownership or Control that could reasonably be
characterized (as determined by the Company) as Contingent Compensation Payments (the “Potential Payments”) shall not be made until the dates provided for in this Section 8.5(d). Within 30 days after each date on which the Executive
first becomes entitled to receive (whether or not then due) a Contingent Compensation Payment relating to such Change in Ownership or Control, the Company shall determine and notify the Executive (with reasonable detail regarding the basis for its
determinations) (i) which Potential Payments constitute Contingent Compensation Payments, (ii) the Eliminated Amount and (iii) whether the Section 8.5(b) Override is applicable. Within 30 days after delivery of such notice to the
Executive, the Executive shall deliver a response to the Company (the “Executive Response”) stating either (A) that he agrees with the Company’s determination pursuant to the preceding sentence, or (B) that he disagrees with
such determination, in which case he shall set forth (i) which Potential Payments should be characterized as Contingent Compensation Payments, (ii) the Eliminated Amount, and (iii) whether the Section 8.5(b) Override is
applicable. If and to the extent that there is an Eliminated Amount, the Contingent Compensation Payments shall be reduced or eliminated, as determined by the Company, in the following order: (w) any cash payments, (x) any taxable
benefits, (y) any nontaxable benefits, and (z) any vesting of equity awards, in each case in the reverse order beginning with payments or benefits that are to be paid the farthest in time from the date that triggers the applicability of
the Excise Tax, to the extent necessary to avoid the Excise Tax. In the event that the Executive fails to deliver an Executive Response on or before the required date, the Company’s initial determination shall be final and the Contingent
Compensation Payments that shall be treated as Eliminated Payments shall be determined by the Company in its absolute discretion. If the Executive states in the Executive Response that he agrees with the Company’s determination, the Company
shall make the Potential Payments to the Executive within three business days following delivery to the Company of the Executive Response (except for any Potential Payments which are not due to be made until after such date, which Potential Payments
shall be made on the date on which they are due). If the Executive states in the Executive Response that 

  
 20 

 
he disagrees with the Company’s determination, then, for a period of 60 days following delivery of the Executive Response, the Executive and the Company shall use good faith efforts to
resolve such dispute. If such dispute is not resolved within such 60-day period, such dispute shall be settled exclusively by arbitration in East Brunswick, New Jersey, in accordance with the rules of the American Arbitration Association then in
effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. The Company shall, within three business days following delivery to the Company of the Executive Response, make to the Executive those Potential
Payments as to which there is no dispute between the Company and the Executive regarding whether they should be made (except for any such Potential Payments which are not due to be made until after such date, which Potential Payments shall be made
on the date on which they are due). The balance of the Potential Payments shall be made within three business days following the resolution of such dispute. Subject to the limitations contained in Sections 8.5(a) and (b), the amount of any payments
to be made to the Executive following the resolution of such dispute shall be increased by amount of the accrued interest thereon computed at the prime rate announced from time to time by Citibank, N.A., compounded monthly from the date that such
payments originally were due. 
 (e) The provisions of this Section 8.5 are intended to apply to any and all payments or
benefits available to the Executive under this Agreement or any other agreement or plan of the Company under which the Executive receives Contingent Compensation Payments. 
 8.6 In the event of a CIC during the Term, all outstanding long-term incentive awards held by the Executive shall immediate accelerate and become fully vested, and the unpaid portion of the Cash Retention
Award shall vest and be immediately payable upon the CIC. 
 8.7 With the exceptions of Articles 8, 9, 10, 11, 12, 13 and 14
(which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this Article 8. 

Article 9. Compliance with IRC Section 409A. 
 (a) The following rules shall apply with respect to distribution of the payments and benefits, if any, to be provided to the Executive under Articles 7 or 8, as applicable: 

(i) It is intended that each installment of the payments and benefits provided under Articles 7 or 8 shall be treated as a separate
“payment” for purposes of Section 409A of the Code and the guidance issued thereunder (“Section 409A”). Neither the Company nor the Executive shall have the right to accelerate or defer the delivery of any such payments or
benefits except to the extent specifically permitted or required by Section 409A. 
 (ii) If, as of the date of the
“separation from service” of the Executive from the Company (determined as set forth below), the Executive is not a “specified employee” (within the meaning of Section 409A), then each installment of the payments and
benefits shall be made on the dates and terms set forth in Articles 7 or 8, as applicable. 

  
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 (iii) If, as of the date of the “separation from service” of the Executive from
the Company, the Executive is a “specified employee” (within the meaning of Section 409A), then: 
 (1) Each
installment of the payments and benefits due under Articles 7 or 8, as applicable, that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the
Short-Term Deferral Period (as defined under Section 409A) shall be treated as a short-term deferral within the meaning of Treasury Regulation $ 1.409A-1(b)(4) to the maximum extent permissible under Section 409A and shall be paid at the
time and in the manner set forth in this Agreement; and 
 (2) Each installment of the payments and benefits due under Articles
7 or 8 that is not described in clause (1), above, and that would, absent this subsection, be paid within the six-month period following the “separation from service” of the Executive from the Company shall not be paid until the date that
is six months and one day after such separation from service (or, if earlier, the Executive’s death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date
that is six months and one day following the Executive’s separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding
provisions of this sentence shall not apply to any installment of payments and benefits if and to the maximum extent that that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by
reason of the application of Treasury Regulation § 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation §
1.409A-1(b)(9)(iii) must be paid no later than the last day of the Executive’s second taxable year following his taxable year in which the separation from service occurs. 
 (b) The determination of whether and when a separation from service of the Executive from the Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth
in, Treasury Regulation § 1.409A-1(h). Solely for purposes of this Article 9, Section (b), “Company” shall include all persons with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the
Code. 
 (c) All reimbursements and in-kind benefits provided under the Agreement shall be made or provided in accordance with
the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the
requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred during the
Executive’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other
calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or
liquidation or exchange for any other benefit. 

  
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 (d) The parties acknowledge and agree that the interpretation of Section 409A and its
application to the terms of this Agreement is uncertain and may be subject to change as additional guidance and interpretations become available. Anything to the contrary herein notwithstanding, all benefits or payments provided by the Company to
the Executive that would be deemed to constitute “nonqualified deferred compensation” within the meaning of Section 409A are intended to comply with Section 409A. If, however, any such benefit or payment is deemed to not comply
with Section 409A, the Company and Executive agree to renegotiate in good faith any such Severance Benefit or CIC Severance Benefit (including, without limitation, as to the timing of any such payment payable pursuant to the terms of this
Agreement) so that either (i) Section 409A will not apply or (ii) compliance with Section 409A will be achieved. 
 Article 10. Creation of Rabbi Trust 
 10.1 In the event that a CIC
Severance Payment is required to be made on the day that is six months and one day after the Executive’s “separation from service” pursuant to Section 9 (a)(iii), the Company shall deposit the full amount of such CIC Severance
Payment in cash in a rabbi trust for the benefit of the Executive as soon as reasonably practicable following the Executive’s “separation from service”. The rabbi trust shall be governed by the terms of a trust agreement reasonably
acceptable to the parties, shall be irrevocable and shall provide that the Company, or any successor thereto, may not, directly or indirectly, use or recover any assets of the rabbi trust until such time as the assets of the trust have been paid to
the Executive hereunder, subject only to the claims of creditors of the Company in the event of its insolvency or bankruptcy. The assets held by the rabbi trust shall be transferred to Executive one day following the six-month anniversary of the
Executives “separation from service” from the Company (the “Six-Month Payment Date”). The assets delivered to Executive pursuant to the rabbi trust shall reflect any investment gain or loss (as the case may be) on the CIC
Severance Benefit from the date the assets comprising the CIC Severance Benefit were deposited into such rabbi trust until the Six-Month Payment Date. The Company, or any successor thereto, shall deliver and pay over to the appropriate taxing
authorities if and when due all amounts subject to withholding with respect to the transfer of the CIC Severance Benefit to the rabbi trust and the transfer of the assets of the rabbi trust to Executive (as adjusted for any investment gain or loss)
on the Six-Month Payment Date, and shall instruct the trustee to transfer to the Executive such assets (in such form and asset class as has been deposited initially into the rabbi trust), without any further reduction for withholding for federal,
state and local taxes other than any additional amounts required to be withheld on any amounts transferred to the Executive that were not included in the initial computation of the CIC Severance Benefit. 

Article 11. Assignment 
 11.1 Assignment by Company. This Agreement may and shall be assigned or transferred to, and shall be binding upon and shall inure to the benefit of any Successor Company. 

(a) Any such Successor Company shall be deemed substituted for all purposes as the “Company” under the terms of this Agreement.

  
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 (b) Failure of the Company to obtain the agreement of any Successor Company to be bound by
the terms of this Agreement prior to the effectiveness of any such succession shall be a material breach of this Agreement, and shall immediately entitle the Executive to benefits from the Company in the same amount and on the same terms as the
Executive would be entitled to receive in the event of a termination of employment for Good Reason as provided in Section 7.7 (failure not related to a CIC) or Section 8.3 (if the failure of assignment follows or is in connection with a
CIC). 
 (c) Except as herein provided, this Agreement may not otherwise be assigned by the Company. 

11.2 Assignment by Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or
legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. 
 (a) If the
Executive dies while any amount would still be payable to him pursuant to this Agreement had he continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement, to the
Executive’s Beneficiary. 
 (b) If the Executive has not named a Beneficiary, then such amounts shall be paid to the
Executive’s devisee, legatee, or other designee, or if there is no such designee, to the Executive’s estate. 
 Article
12. Legal Fees and Notice 
 12.1 Payment of Legal Fees. To the extent permitted by law, the Company shall pay all
legal fees, costs of litigation, prejudgment interest, and other expenses incurred by Executive in contesting a termination, if Executive prevails. The Company shall also pay the reasonable attorneys fees incurred by the Executive in the negotiation
of this Agreement. The payment of such amounts shall be subject to the terms of Section 9(c). 
 12.2 Notice. Any
notices, requests, demands, or other communications provided by this Agreement shall be sufficient if in writing and if sent by registered or certified mail to the Executive at the last address he has filed in writing with the Company or, in the
case of the Company, at its principal offices to the attention of the General Counsel. 
 Article 13. Confidentiality and
Noncompetition 
 13.1 Disclosure of Information. The Executive recognizes that he has access to and knowledge of
confidential and proprietary information of the Company that is essential to the performance of his duties under this Agreement. 
 (a) The Executive will not, during and for five years after the Term, in whole or in part, disclose such information to any person, firm, corporation, association, or other entity for any reason or
purpose whatsoever, nor shall he make use of any such information for his own purposes, so long as such information has not otherwise been disclosed to the public or is not otherwise in the public domain except as required by law or pursuant to
administrative or legal process. 

  
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 13.2 Covenants Regarding Other Employees. During the Term, and for a period of 12
months following the Executive’s termination of employment for any reason, the Executive agrees not to actively solicit any employee of the Company to terminate his or her employment with the Company or to interfere in a similar manner with the
business of the Company. 
 13.3 Noncompete Following a Termination of Employment. From the Effective Date until six
months following the Executive’s Effective Date of Termination for any reason, the Executive will not: (a) directly or indirectly own any equity or proprietary interest in (except for ownership of shares in a publicly traded company not
exceeding 3% of any class of outstanding securities), or be an employee, agent, director, advisor, or consultant to or for any competitor of the Company, whether on his own behalf or on behalf of any person; or (b) undertake any action to
induce or cause any customer or client to discontinue any part of its business with the Company. 
 13.4 Waiver of Covenants
Upon a CIC. Upon the occurrence of a CIC, the Executive shall be released from each of the covenants set forth in Sections 13.2 and 13.3, if such Executive is terminated by the Company without Cause or if the Executive terminates his employment
with the Company for Good Reason. 
 Article 14. Outplacement Assistance 

14.1 Following a termination of employment, other than for Cause, the Executive shall be reimbursed by the Company for the costs of all
outplacement services obtained by the Executive within the one-year period after the Effective Date of Termination; provided, however, that the total reimbursement shall be limited to an amount equal to $100,000. The provision of such
outplacement services reimbursement shall be subject to the terms of Section 9(c). 
 Article 15. Miscellaneous

 15.1 Entire Agreement. With the exception of the Company’s Proprietary Information and Inventions Agreement and
the indemnification agreement dated February 21, 2011 previously executed by Executive, this Agreement supersedes any prior agreements, or understandings, oral or written, between the parties hereto or between the Executive and the Company,
with respect to the subject matter hereof, and constitutes the entire agreement of the parties with respect thereto. Notwithstanding the foregoing, and except to the extent specifically modified herein, this Agreement shall not affect in any form or
manner the validity, and rights and obligations of Executive and the Company under any long-term incentive awards granted pursuant to the terms of Section 1.3 of the Original Employment Agreement, and the Cash Retention Award and the Restricted
Stock Retention Award. 
 15.2 Modification. This Agreement shall not be varied, altered, modified, canceled, changed, or
in any way amended except by mutual agreement of the parties in a written instrument executed by the parties hereto or their legal representatives. 

  
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 15.3 Severability. In the event that any provision or portion of this Agreement shall
be determined to be invalid or unenforceable for any reason, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect. 
 15.4 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement.

 15.5 Tax Withholding. The Company may withhold from any benefits payable under this Agreement all federal, state,
city, or other taxes as may be required pursuant to any law or governmental regulation or ruling. 
 15.6 Beneficiaries.
To the extend allowed by law, any payments or benefits hereunder due to the Executive at the time of his death shall nonetheless be paid or provided and the Executive may designate one or more persons or entities as the primary and/or contingent
beneficiaries of any amounts to be received under this Agreement. Such designation must be in the form of a signed writing acceptable to the Board or the Board’s designee. The Executive may make or change such designation at any time.

 15.7 Restrictive Covenants. With the exception of the Company’s willful material breach of its payment
obligations under Articles 7 and 8 of this Agreement (provided, however, that no such breach shall be deemed to have occurred until the Executive has provided the Board with written notice of such breach and a reasonable opportunity
for cure), the restrictive covenants contained in Article 13 are independent of any other contractual obligations in this Agreement or otherwise owed by the Company to the Executive. Except as provided in this paragraph, the existence of any claim
or cause of action by Executive against the Company, whether based on this Agreement or otherwise, shall not create a defense to the enforcement by the Company of any restrictive covenant contained herein. 

15.8 The Executive shall not be obligated to seek other employment in mitigation of the amounts payable or arrangements made under any
provision of this Agreement, and the obtaining of any such other employment shall in no event effect any reduction of the Company’s obligations to make the payments and arrangements required to be made under this Agreement. 

15.9 Previous Obligations. 
 (a) Executive agrees and confirms that Executive’s acceptance of this Agreement and performance of his duties hereunder will not in any way require or place Executive in a position that may require
or potentially may require the use or disclosure of any third party’s trade secrets or proprietary information. 
 (b)
Executive confirms that Executive has disclosed to the Company all agreements Executive has with any third party that incorporate confidentiality restrictions or a covenant not to compete. 

(c) Executive believes that he is under no obligations to any third party, including any confidentiality agreements, covenants not
compete or the like, which will in any way restrict the Executive’s ability to perform his duties hereunder. 

  
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 (d) Executive agrees and confirms that in the event Executive is ever asked to participate
in any activity or perform any job duties and responsibilities as an employee of the Company which the Executive believes may involve the utilization or dissemination of information a third party has identified as its proprietary information or a
trade secret or which may fall under a previously executed covenant not to compete, Executive will immediately notify the General Counsel and will not undertake to participate in any activities which require or could possibly require Executive to
utilize or rely upon such proprietary information or trade secret. 
 15.10 Review by Counsel. Prior to executing this
Agreement, Executive agrees that he has consulted with his attorney who represents his interests and who has fully and completely explained the terms and conditions of this Agreement and the obligations created herein. 

15.11 Director Resignation. In the event that the Executive is a member of the Board, or the board of directors of any subsidiary
company, on the Effective Date of Termination, Executive shall resign from such positions effective on the Effective Date of Termination. 
 15.12 Release. Notwithstanding anything to the contrary in this Agreement, the obligation of the Company to makes the payments or provide the benefits described in Sections 7.2(d)(2), 7.4(b)(1)
through (3), 7.6(d)(1) through (3), or Section 8.3(a), (b) or (e), and the right of Executive to receive such benefits, are subject to the obligation of the Executive to deliver an executed release in the form attached hereto as Exhibit
A (or, at the Company’s election, such other form that the Company is then reasonably using for executives similarly situated to the Executive) (the “Release”) and any applicable revocation period with respect to the Release
expiring within 60 days following the Effective Date of Termination Date; provided, however, that notwithstanding the preceding, Executive shall not be required, nor shall he forfeit entitlement to such payments and benefits nor will the Company be
relieved of its obligation with respect to such payments and benefits, to execute the Release unless the Company (on its behalf and on behalf of its direct and indirect controlled subsidiaries and controlled affiliates) concurrently executes a
mutual release of Executive, in a form and substance reasonably satisfactory to Executive and consented to by the Company whose consent shall not be unreasonably withheld, of any claims, whether arising under federal, state or local statute, common
law or otherwise, against Executive that arise or may have arisen on or before the date of said mutual release and which are known or should have reasonably been known to the Company on the date of said release. The severance payments and benefits
shall be paid or commence on the first payment date following the date on which the Release becomes effective (the “Payment Date”). Notwithstanding the foregoing, if the 60th day following the date of termination occurs in the calendar year following the year of termination, then the Payment
Date shall be no earlier than January 1 of such subsequent calendar year. 
 15.13 Liability Insurance. The Company will
cover Executive under officer, professional and other appropriate liability insurance policies both during the term of this Agreement and, while any potential liability exists, after the termination of this Agreement in the same amount and to the
same extent, if any, as the Company covers its officers. Notwithstanding any other provision of this Agreement, the provisions of this Article shall survive the termination of Executive’s employment and the termination of this Agreement.

  
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 Article 16. Governing Law 

16.1 To the extent not preempted by federal law, the provisions of this Agreement shall be construed and enforced in accordance with the
laws of the state of New Jersey without giving effect to the provisions thereof regarding conflict of laws. 
 IN WITNESS
WHEREOF, the Company, through its duly authorized representative, and the Executive have executed this Agreement as of the Effective Date. 
  

			
	Executive:
	
	 /s/ Lou Ferrari

	Lou Ferrari
	
	Company:
	
	Savient Pharmaceuticals, Inc.
		
	By:	 	 /s/ Stephen O. Jaeger

		 	Stephen O. Jaeger
		 	Chairperson of the
		 	Board of Directors

  
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 Exhibit A 

Separation Agreement and General Release of Claims 
 In consideration of the severance benefits offered to me by Savient Pharmaceuticals, Inc. (the “Company”) pursuant to my Employment Agreement effective as of July 9, 2012 (the
“Agreement”) and in connection with my ceasing to be employed by the Company, I hereby agree to the following general release and to the other terms and conditions as set forth below (the “General Release
Agreement”). 
 The Company hereby advises me to consult with an attorney before signing this General Release Agreement and I am
being provided with at least twenty-one (21) days to review this General Release Agreement. 
 1. Employee Release -
On behalf of myself and my heirs, executors, administrators, successors and assigns, I hereby fully, forever, irrevocably and unconditionally release, remise and discharge the Company and its affiliates, subsidiaries, parent companies, predecessors
and successors, and all of their respective past and present officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers and fiduciaries (each in their individual and corporate
capacities) (collectively, the “Released Parties”) from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts,
agreements, promises, doings, omissions, damages, executions, obligations, liabilities and expenses (including attorneys’ fees and costs), of every kind and nature that I ever had or now have and that are known or should have been reasonably
known to me on the date hereof, against any or all of the Released Parties with respect to my employment with and/or separation from the Company, including all claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et
seq., the Genetic Information Nondiscrimination Act of 2008, 42 U.S.C. § 2000ff et seq., the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., the Age Discrimination in Employment Act,
29 U.S.C. § 621 et seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Worker Adjustment and Retraining Notification Act (“WARN”), 29 U.S.C. § 2101 et seq.,
the Rehabilitation Act of 1973, 29 U.S.C. § 701 et seq., Executive Order 11246, Executive Order 11141, the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and the Employee Retirement Income Security Act of
1974 (“ERISA”), 29 U.S.C. § 1001 et seq., all as amended; the New Jersey Law Against Discrimination, N.J.S.A. 10: 5-1, et seq. (“NJLAD”), the New Jersey Millville Dallas Airmotive Plant Job Loss
Notification Act, N.J.S.A. 34:21-1, et seq. (“Millville Dallas Act”), the New Jersey Conscientious Employee Protection Act, N.J.S.A. 34:19-1, et seq. (“CEPA”) the New Jersey Civil Rights Act, N.J.S.A. 10:1-1, et
seq. (“NJCRA”), the New Jersey Temporary Disability Benefits and Family Leave Insurance Law, N.J.S.A. 43:21-25, et seq., the New Jersey Family Leave Act, N.J.S.A. 34:11B-1, et seq. (“NJFLA”), the New Jersey Fair
Credit Reporting Act, N.J.S.A. 56:-28, et seq. (“NJFCRA”), the New Jersey Discrimination in Wages Law, N.J.S.A. 34:11-56.2, et seq., the New Jersey Wage and Hour Law, N.J.S.A. 34:11-56a, et seq., the New Jersey
Workers’ Compensation Act, N.J.S.A. 34:15-1, et seq., the Delaware Discrimination in Employment Act, the Delaware Handicapped Persons Employment Protections Act, the Delaware Whistleblowers’ Protection Act, the Hazardous Chemical
Information Act, and the Delaware Clean Indoor Air Act, as each may be amended from time to time,, all common law claims including actions in defamation, intentional infliction 

  
 29 

 
of emotional distress, misrepresentation, fraud, wrongful discharge, and breach of contract, including the Agreement and all claims to any equity compensation from the Company (other than
compensation vested or vesting on my termination of employment), contractual or otherwise; and any claim or damage arising out of my employment with and/or separation from the Company (including a claim for retaliation) under any common law theory
or any federal, state, local, or foreign statute or ordinance not expressly referenced above; provided, however, that nothing in this General Release Agreement releases any claim to the compensation or payments rendered in conjunction
with my employment by the Company, including payment for all wages, bonuses, equity, and accrued unused vacation time, or prevents me from filing a charge with, cooperating with or participating in any proceeding before the Equal Employment
Opportunity Commission or a state fair employment practices agency (except that I acknowledge that I may not recover any monetary benefits in connection with any such claim, charge or proceeding). Further, nothing in this General Release Agreement,
however, shall operate as a waiver of (i) any vested benefits to which I may be entitled in accordance with, and subject to, otherwise applicable terms of any benefit plan, retirement plan or long-term incentive plan of the Company;
(ii) my right to enforce the terms of the Agreement, (iii) any claims which arise after the date of execution of this General Release Agreement; (iv) my right to apply for unemployment benefits (iv) my rights under the
indemnification agreement dated February 21, 2011 previously executed by me and the Company; and (v) my rights under any officer, professional and other appropriate liability insurance policies of the Company (as provided in
Section 15.13 of the Agreement). 
 I understand and agree that the claims released in this section include not only claims
presently known to me, but also all unknown or unanticipated claims, rights, demands, actions, obligations, liabilities and causes of action of every kind and character that would otherwise come within the scope of the released claims as described
in this section. I understand that I may hereafter discover facts different from what I now believe to be true, which if known, could have materially affected this General Release Agreement, but I nevertheless waive and release any claims or rights
based on different or additional facts. 
 2. Company Release - The Company (on its behalf and on behalf of its and its
affiliates, subsidiaries, parent companies, predecessors and successors, and all of their respective past and present officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers
and fiduciaries (each in their individual and corporate capacities)) hereby fully, forever, irrevocably and unconditionally releases, remises and discharges you from any and all claims, charges, complaints, demands, actions, causes of action, suits,
rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings, omissions, damages, executions, obligations, liabilities, and expenses, including attorneys’ fees and costs, of every kind and nature
which it ever had or now has and that are known or should have been reasonably known to the Company on the date hereof, against you arising out of acts or omissions undertaken or not undertaken by you in the course and scope of your employment with
and/or separation from the Company. Except as described above, this release and discharge includes, but is not limited to all claims arising under common law, contract, implied contract, public policy, tort, or any federal, state, or local statute,
law, ordinance, regulation, or order, and the Company further covenants and agrees never to institute or cause to be instituted any suit or action, at law, equity, or otherwise, in any federal or state court, before any federal, state, or local
administrative agency or before any tribunal, public or private, relating to or arising from such claims. 

  
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