Document:

Form 8-K

 Exhibit 10.9 

COMMERCIAL SUPPLY AGREEMENT 

This Commercial Supply Agreement (this “Agreement”) is entered into as of October 16, 2008, (the “Effective Date”) by
and between Enzon Pharmaceuticals, Inc., a Delaware corporation with an address of 685 Route 202-206, Bridgewater, New Jersey 08807 (“Enzon”), and Savient Pharmaceuticals, Inc., a Delaware corporation, having its principal place of
business at One Tower Center, 14th Floor, East Brunswick, New Jersey 08816 (“Savient”). Enzon and Savient may be referred to individually as a “Party” or collectively as
“Parties.” 
 R E C I T A L S 

WHEREAS, Savient is engaged in the development and research of certain biologic products and requires manufacture of such a product for
commercial distribution;  
 WHEREAS, Enzon is a contract manufacturer that possesses the necessary technical capabilities and
operates facilities for the manufacture of pharmaceutical and biological products for commercial distribution;  
 WHEREAS,
Savient desires Enzon to supply to it the Product on the terms and conditions set forth herein; and  
 WHEREAS, Enzon is
willing to supply the Product to Savient on the terms and conditions set forth below.  
 NOW, THEREFORE, in consideration of
the mutual promises contained herein, and for other good and valuable consideration, the receipt and adequacy of which each of the Parties does hereby acknowledge, the Parties, intending to be legally bound, agree as follows:  

Section 1. DEFINITIONS 
 1.1 As used
herein, the following terms shall have the following meanings: 
 1.2 “Affiliate” shall mean any business entity which
directly or indirectly controls, is controlled by, or is under common control with any Party to this Agreement. A business entity shall be deemed to “control” another business entity if (i) it owns, directly or indirectly, at least
fifty percent (50%) of the issued and outstanding voting securities, capital stock, or other comparable equity or ownership interest of such business entity, or (ii) it has the de facto ability to control or direct the management of such
business entity. 
 1.3 “Applicable Laws” means all relevant federal, state and local laws, statutes, rules, and regulations
which are applicable to a Party’s activities hereunder, including, without limitation, the applicable regulations of the Regulatory Authority, European Medicines Agency (EMEA) and United States and European Union cGMPs. The Parties may amend
this section in writing to include additional countries. 

  
  

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 1.4 “BLA” means a regulatory application filed with a governmental agency in a
the United States, the European Union, or any other country that the Parties mutually agree upon in writing (e.g. FDA and EMEA) for the purpose of lawfully marketing, selling, distributing, importing, exporting, manufacturing, developing or using a
therapeutic or prophylactic product for the treatment or prevention of a disease or physical condition. As used herein, BLA shall include, without limitation, a Marketing Authorization Application in the European Union, a Biologics License
Application in the United States. 
 1.5 “Bulk Product” shall mean the bulk solution of methoxy-polyethylene glycol (m-PEG)
conjugate of uricase supplied by Savient to Enzon pursuant to this Agreement. 
 1.6 “Commercially Reasonable Efforts” shall
mean efforts in accordance with the standards of care and diligence Enzon practices with respect to its own products. 
 1.7
“cGMPs” shall mean current good manufacturing practices as promulgated by the FDA under the United States Food, Drug and Cosmetic Act, 21 C.F.R. Part 210 et seq., as amended from time to time, and the European Union. 

 1.8 “Field Alerts” shall have the definition of field alerts used by the FDA irrespective of the jurisdiction in
which the acts or circumstances giving rise to such field alerts occur. 
 1.9 “Process Consumables” means media, resins,
raw materials, filters, membranes, product contact materials or surfaces, disposable lab supplies and similar materials used in the manufacture of Product. Provided, however, that Process Consumables shall not include components of manufacture
supplied by third parties such as labels (hereinafter referred to as “Manufacture Components”). 
 1.10 “Product”
means pegloticase, a PEGylated recombinant mammalian uricase formulation in final drug product form ready for commercial sale. 
 1.11
“Quality Agreement” shall mean that certain Quality Agreement by and between the Parties hereto, dated as of the date hereof and attached to this Agreement 

1.12 “Regulatory Authority” shall mean any governmental agency with jurisdiction over the regulation of drug and biological
agents for use in man, including, but not limited to, the United States Food and Drug Administration and any foreign equivalents thereto. 

1.13 “Savient-supplied Materials” shall mean those materials including, but not limited to Bulk Product, supplied by Savient
for use in connection with the manufacture of the Product, as set forth in the Work Plan which is attached hereto as Exhibit A or any subsequent Work Plan signed by both parties. 

1.14 “Savient Intellectual Property” shall mean (i) all valid patent claims owned or licensed by Savient and all
converted provisionals, divisions, continuations, continuations-in-part, reissues, reexaminations or extensions thereof, as well as any corresponding foreign 

  
  

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counterparts and equivalents thereof, whether issued or pending as of the Effective Date or thereafter; (ii) trademarks which are owned, licensed or sublicensed by Savient and which are
registered in the United States and, where applicable, foreign jurisdictions for use in association with the Product; and (iii) any Savient Know-How developed by Savient or any of its Affiliates during the Term relating to (a) the Bulk
Product or the Product (including, without limitation, its pharmaceutical utility) or (b) the Services provided hereunder 
 1.15
“Savient Know-How” shall mean all technical information, data (including, without limitation, regulatory data) patentable and unpatentable inventions, developments, discoveries, methods and processes that are, in each case, not
disclosed in a published patent application or patent or otherwise publicly available, which are developed or conceived of by Savient or any of its Affiliates or which is licensed to Savient or any of its Affiliates. 

1.16 “Service” means those services described in any Work Plan which is made a part of this Agreement and those services
described in any Quality Agreement pertaining to such services. 
 1.17 “Specifications” means the written specifications
for the Product and Savient-supplied Materials attached hereto as Exhibit B, which may be amended from time to time by the mutual written agreement of the parties. 

1.18 “Work Plan” means the schedule and detailed plans used to prepare formulated Bulk Product, fill Bulk Product into vials
and package the resulting drug product thereby resulting in the ultimate deliverable which is the Product. The definition of Work Plan shall also include subsequent change orders to any Work Plan (as described in Section 3.3) . The first Work
Plan is attached hereto as Exhibit A. 
 Section 2. SERVICES 

2.1 Enzon shall perform the Services described in this Agreement and in the exhibits hereto, which are made part of this Agreement, or as
described in any Work Plan, the Specifications, or change order pursuant to Section 3.3. Savient shall provide such Savient-supplied Materials and make such payments as are set forth therein. The Parties mutually acknowledge and agree that
nothing contained in this Agreement or any Work Plan executed hereunder shall create an exclusive manufacture or supply arrangement between the Parties. 

2.2 To the extent necessary to enable Enzon to provide the Services, Savient hereby grants to Enzon a royalty-free, non-exclusive license and,
where appropriate, sublicense, to use the Savient Intellectual Property which pertains to the Product or the Services hereunder; provided, however, that any license, or sublicense, granted herein as the case may be, shall be used by Enzon or any
permitted sublicensee solely for the purposes of carrying out the Services and no rights or title in or to the Savient Intellectual Property shall vest in Enzon. Upon the expiration or earlier termination of this Agreement the license or sublicense
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 use Savient Intellectual Property shall immediately cease and Enzon shall make no further use thereof and shall
cause any permitted sublicensee to make no further use thereof. 
 2.3 Enzon agrees to provide the Services outlined in the Work Plan
attached hereto as Exhibit A which is incorporated and made a part of this Agreement and any other Services that may be described in any future Work Plan or change order, or Quality Agreement which addresses the Services described in this
Section 2, which shall be incorporated into this Agreement upon execution by both parties. Such Services shall be performed in accordance with Applicable Laws. Savient agrees to make payments in accordance with this Agreement and all Work
Plans. In the event of a conflict between this Agreement and any Work Plan, this Agreement shall control. 
 2.4 Enzon shall provide Savient,
at no additional charge, product support services, at Savient’s reasonable request, for the activities listed below: 
  

	 	•	 	Meetings with Regulatory Authorities, whether in person or by phone 

  

	 	•	 	Routine documentation provided to Regulatory Authorities on behalf of Savient 

  

	 	•	 	Annual product reviews for commercial products, as required by Regulatory Authorities. 

  

	 	•	 	All audit correspondence including Savient-requested revisions to Enzon’s audit response. 

Savient may request from Enzon other product support services at its customary rate, as set forth on Exhibit C, including but not limited to:

  

	 	•	 	Preparation of documents in anticipation of a Pre-Approval Inspection. 

  

	 	•	 	Letters of reference from Enzon or Enzon’s vendors that are requested by Savient (e.g., Master file reference letters, rubber or glass vendor letters). 

 

	 	•	 	Documentation provided to Regulatory Authorities on behalf of Savient, other than routine documentation. 

  

	 	•	 	All time used for collecting and photocopying Savient documentation. One copy of a batch record is exempted from support charges. 

  

	 	•	 	Changes and revisions to artwork mandated by Regulatory Authorities or requested by Savient. 

  

	 	•	 	Any additional validation work requested by Savient beyond original Work Plan or outside current validation requirements. 

  

	 	•	 	Any analytical development and/or analyses beyond original Work Plan. 

 For all requests under this
Section 2.4, Savient shall provide Enzon a written request for product support services that describes the required services and/or documents/work product required. Enzon shall provide Savient an estimate based on its customary rate. Upon
acceptance of such estimate by Savient, Savient shall issue a purchase order to Enzon and Enzon shall perform such services in accordance with the terms hereof. 

  
  

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 2.5 Enzon shall prepare and effect the Product shipment in accordance with explict written
instructions issued by Savient, which shall include the packaging instructions and Savient’s selected mode of transportation. All transportation costs shall be borne by Savient in accordance with the terms contained herein. 

Section 3. MANAGEMENT/FORECASTING/MATERIALS 

3.1 Account Management. Each party will appoint an account manager who will be the party responsible for overseeing the activities
hereunder. 
 3.2 Content of Work Plans. Each Work Plan shall include a reasonably detailed description of the Services to be
provided, relevant Specifications, a schedule for completion of the Work Plan, a fee and payment schedule, and such other information as is necessary for Enzon to perform the relevant Services. 

3.3 Change Orders. In the event that Enzon is requested to perform services that are outside the scope of agreed-upon Work Plans such
changes must be mutually agreed upon by the parties in a written change order prior to the provision of said services. Each such change order constitutes an amendment to the applicable Work Plan (which shall be explicitly referenced in such change
order) and the services set forth therein shall be deemed to be part of such Work Plan. After receipt of the reasonably detailed description of the additional services from Savient, Enzon shall provide Savient with a cost estimate for performing the
changed or additional services. Each change order shall be governed by the terms and conditions of this Agreement and by such supplementary written amendments of this Agreement or Work Plans as may be, from time to time, executed between the
parties. 
 3.4 Forecasting And Savient-supplied Materials  

(a) Upon execution of this Agreement and on the first day of each calendar quarter thereafter, Savient shall deliver to Enzon’s account
manager an updated rolling forecast of Product requirements (in full-batch quantities) for the twenty four (24) month period commencing on the first day of the immediately following calendar month. Enzon shall, within ten (10) days of
receipt of a forecast from Savient, confirm its receipt thereof in writing and shall advise Savient of whether such forecast is accepted in whole or in part; in the event that any part of the forecast is not accepted by Enzon then Enzon shall detail
in writing the rationale for such non-acceptance. Within thirty (30) days of accepting each forecast, Enzon will provide Savient a projected manufacturing schedule indicating approximate dates of manufacturing which shall conform with the
delivery dates specified in the forecast supplied by Savient. The foregoing notwithstanding, once a forecast (or any portion thereof) has been accepted by Enzon it shall be binding on both parties except as otherwise may be explicity set forth
herein; in the event that Enzon neither accepts or rejects any forecast submitted by Savient within ten (10) days of receipt from Savient then the entire forecast as submitted by Savient shall be deemed accepted by Enzon. If accepted, the
forecast for the first six (6) calendar months of each forecast (“Firm Forecast”) shall be 100% binding on both parties and the forecast for the next twelve (12) calendar months (“Planning Forecast”) shall be binding on
both parties as set forth in the 

  
  

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following sentence. Product requirements within the Planning Forecast shall not be increased or decreased by Savient by more than one (1) batch per three month period, per forecast, provided
that no month may be reduced to zero (0) batches unless the initial Planning Forecast for that particular month was initially set as one or zero batches; for purposes of clarification only, the parties agree that the intention of this provision
is to allow Savient, in each subsequent forecast, to modify each three month period of the most recently supplied Planning Forecast by one (1) batch as follows: the first three month period of the most recently provided Planning Forecast (which
becomes the final three month period of the Firm Forecast) may be modified by one batch, the second three month period of the Planning Forecast may be modified by one batch, the third three month period of the most recently provided Planning
Forecast may be modified by one batch and the fourth three month period of the most recently provided Planning Forecast may be modified by one batch. Savient shall forecast Product requirements for the six (6) months following the Planning
Forecast, and the forecast for those six months are non-binding (“Non-Binding Forecast”) on Savient. Savient shall place firm purchase orders for its requirement of the Product in full-batch quantities at least ninety (90) days prior
to the requested date of delivery. Each firm written purchase order, signed by Savient’s duly authorized representative, shall authorize Enzon to manufacture the number of batches of the Product as are set forth therein. The number of purchase
orders submitted by Savient shall not exceed one (1) per calendar month, unless otherwise agreed to by the parties in writing. Enzon shall have completed any and all activities which are required by the applicable Work Plan and all Applicable
Laws so as to be able to deliver the Product on or before the delivery dates specified by Savient in the subject purchase order but in any event the Product shall not be delivered by Enzon more than one (1) month in advance of any specified
delivery date. Provided, however, that Enzon shall use Commercially Reasonable Efforts to minimize the amount of time elapsing between the completion of manufacturing activities and delivery of the completed Product to Savient. 

(b) Starting from inception of the manufacture of the Product, Savient shall supply to Enzon, and use Commercially Reasonable Efforts to ensure
that Enzon has on hand, a sufficient stock of Savient-supplied Materials as is necessary to provide the Services. Enzon shall have no liability for any failure to supply Product to Savient in accordance with the delivery terms contained in a Savient
purchase order if sufficient quantities of Savient-supplied Materials in light of the forecasting described above have not been supplied to Enzon at least four (4) weeks prior to the scheduled manufacture date, as communicated to Savient
pursuant to Section 3.4(a) . In such case, manufacture of Product may be delayed until receipt of adequate supplies of Savient-supplied Materials and the availability of an appropriate manufacturing slot; provided, however, that Enzon shall use
Commercially Reasonable Efforts to schedule the manufacture of the Product as soon as is possible subsequent to receiving the Savient-supplied Materials. If Savient provides Enzon with insufficient Savient-supplied Materials to produce the amount of
Product requested in a particular purchase order, both sides may nonetheless agree in writing to have Enzon produce a lesser amount based on the amount of Savient-supplied Materials provided to Enzon, and all such batches shall be subject to the
pricing listed in Exhibit C, including the minimum batch price, if applicable. Provided, however, that the Parties agree that any shortfall on the part of Enzon to produce at least ten thousand five hundred (10,500) vials of Product when
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not constitute a breach of this Agreement and that the the pricing for such shortfall below ten thousand five hundred (10,500 vials) shall be computed as set forth in Section 6.2(e) herein.
Additionally, in the event that any scheduled manufacture of the Product is delayed due to the unavailability of adequate stores of Savient-supplied Materials, then any Firm Forecast then in effect shall be carried forward until such a time as the
manufacture and delivery of the Product in accordance with the most recently supplied firm purchase order have been completed. Savient shall be responsible for verifying that all Savient-supplied Materials meet relevant Specifications. Title to
Savient-supplied Materials shall not be transferred to Enzon. Savient will provide a signed, abbreviated Certificate of Analysis (“CofA”) which shall, at minimum, certify that Savient-supplied Materials meet the Specifications for such
Savient-supplied Materials as defined on Exhibit B prior to the processing of Savient-supplied Materials by Enzon. Enzon shall store all Savient-supplied Materials and finished Product in accordance with instructions provided by Savient in the
Quality Agreement. 
 (c) All costs associated with the selection and/or qualification of alternative suppliers for any materials required to
perform the Services shall be borne by Savient. Any such activities will be defined by Savient in writing an accompanied by an appropriate purchase order to Enzon. 

(d) Upon execution of this Agreement and along with every quarterly forecast, Savient shall pay Enzon a rolling, non-refundable reservation fee
equal to 25% of the minimum batch (specifed on Exhibit C) price for batches included in the Firm Forecast to secure manufacturing capacity slots corresponding to the forecast provided. Savient shall pay such reservation fee to Enzon within ten
(10) days of Enzon’s provision to Savient of the manufacturing schedule, as set forth in Section 3.4(a), which schedule sets forth the approximate dates of manufacturing for the Product. Such reservation fee shall be credited towards
Product produced by Enzon on a batch-by-batch basis in a prorated amount. Additionally, upon payment of the reservation fee by Savient, Enzon warrants that manufacture of the Product shall occur on or before the dates specified in the manufacturing
schedule which conforms to the Firm Forecast for which the reservation fee is paid. Upon shipment of each completed batch, Enzon will invoice Savient at a rate equivalent to the applicable unit price multiplied by the total number of vials produced
less the applicable portion of any reservation fees paid. No less than two weeks prior to each quarterly update of the Firm Forecast, Enzon and Savient will reconcile the invoices against the above-mentioned reservation fee. In the event that
Savient cancels any batch within the Firm Forecast, Enzon will charge Savient, and Savient agrees to pay to Enzon, a cancellation fee as set forth in the following sentence. For each batch canceled by Savient, Savient will pay Enzon an amount equal
to the minimum batch price set forth on Exhibit C (less nineteen thousand eight hundred ninety dollars ($19,890) representing unused Process Consumables and Manufacturing Components), which amount shall represent liquidated damages resulting from
unused manufacturing capacity. In the event that Savient postpones the manufacture of any batch scheduled during the Firm Forecast period for a period of more than thirty (30) days, then Enzon will charge Savient, and Savient agrees to pay to
Enzon, a postponement fee as set forth in the following sentence. For each batch postponed by Savient, Savient will pay Enzon an amount equal to the minimum batch price set forth on Exhibit C (less nineteen thousand eight hundred ninety dollars
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Components) which amount shall represent liquidated damages resulting from unused manufacturing capacity. Only with respect to batches which are postponed beyond the Firm Forecast, Savient will
remit to Enzon the amount drawn within 30 days, and that amount will be credited back to the reservation fee. Enzon will draw the cancellation and postponement fee amounts described above from the amounts previously remitted to Enzon as reservation
fees. In the event that any amounts owing to Enzon pursuant to this Section exceed the amounts previously remitted to Enzon as reservation fees, Enzon shall submit an invoice to Savient for the difference and Savient shall submit payment for such
invoiced amounts in accordance with the terms of this Agreement. 
 Section 4. COMPENSATION AND EXPENSES 

4.1 As compensation for rendering the Services hereunder, Savient shall pay Enzon the amounts specified in Exhibit C and any subsequent
additional Work Plans executed in writing by both parties. Except as otherwise specifically provided in the attached Work Plan or any subsequent additional Work Plan, all payments by Savient shall be made within thirty (30) days of the date of
its receipt of the appropriate invoice from Enzon. Enzon will charge a late payment fee of 1 1⁄2% per month, or the maximum amount permitted by law if
less than 1 1⁄2% per month, for any payment not received within thirty (30) days of the date of Savient’s receipt of the appropriate invoice
from Enzon. Failure to invoice for interest due shall not be a waiver of Enzon’s right to charge interest. Savient will pay any sales, use, gross receipts or other taxes, licenses, or fees (excluding tax based on Enzon’s net income)
required to be paid by Enzon to any state or tax jurisdiction in connection with the Services performed hereunder. 
 4.2 All invoices and/or
other requests for payment shall be itemized with a reasonable degree of specificity to ensure accuracy in accounting for services and/or goods provided and invoiced for. All invoices and/or other requests for payment shall be sent to: 

Accounts Payable 

Savient Pharmaceuticals, Inc. 

One Tower Center, 14th Floor 

East Brunswick, New Jersey 08816 

4.3 Enzon will adjust prices not more often than annually, commencing on January 1, 2010, based on normal and customary increases in
costs, not greater than the pharmaceutical Producer Price Index (as published by Bureau of Labor Statistics, Industry Code 325412). Additionally, Enzon may revise the prices provided in an attached Work Plan either upward or downward with
Savient’s prior written consent, such consent not to be unreasonably withheld, if (i) any information which the parties reasonably agree is material to the performance of the Services proves to be incomplete or inaccurate (including but
not limited to a material reduction in volume or a material change in prices of Enzon’s raw materials), (ii) Savient revises Enzon’s manufacturing or packaging responsibilities, procedures, or assumptions in a way that would impact
the cost of the Services, or (iii) unforeseen circumstances, which both parties reasonably agree were unforeseeable at the time of contracting and which are not directly attributable to Enzon, affect the activities required to complete the Work
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immediately if the costs to complete Services materially differ, either positively or negatively, from the prices stated in the attached Work Plan. Enzon will not commence work involving charges
in excess of those stated in the attached Work Plan without Savient’s written approval unless such advance notice was not possible due to the circumstances. Savient shall be responsible for all non-cancelable costs incurred by Enzon as a direct
result of any change order or other variation in Services requested by Savient, including but not limited to, inventory rendered unusable under the Work Plan; provided, however, that Enzon shall use Commercially Reasonable Efforts to minimize any
non-cancelable costs contemplated herein including, but not limited to, by maintaining on hand only such Manufacture Components which are reasonably required to manufacture such quantities of Product as are specified in the Firm Forecast. 

4.4 Savient’s failure to pay for the amounts due under this Agreement (including but not limited to payments under 3.4(d)) shall
constitute a material breach of this Agreement. Savient shall have 45 days from Enzon’s written notice to cure such breach; provided, however, that Savient’s failure to pay any amounts otherwise owing hereunder due to a good faith dispute
relating to such amounts shall not constitute a material breach only with respect to such amounts. Upon the expiration of the stated cure period, Enzon shall have the right to suspend any Services under this Agreement. Any batch cancellations
resulting from such actions will be billed to Savient in accordance with Section 3.4(d) . 
 Section 5. CERTAIN REPRESENTATIONS, WARRANTIES,
AND COVENANTS 
 OF ENZON: 

5.1 Authority. Enzon represents and warrants that it has full authority to enter into this Agreement. 

5.2 Material/Supplies. Enzon shall use Savient-supplied Materials only to perform the Services hereunder. 

5.3 Savient Intellectual Property. Enzon warrants that it shall use Savient Intellectual Property only for the purpose of manufacturing
the Product on behalf of Savient in accordance with the terms of this Agreement. 
 5.4 MVP Confidential Information. Enzon hereby
represents and warrants that, during the Term of this Agreement, it has not taken any action, nor failed to take any action, which would violate or cause to be violated the terms and conditions contained in the attached Exhibit E, which is
incorporated herein by reference. The warranty contained herein shall survive the termination or expiration of the Agreement in accordance with the terms contained in the attached Exhibit E. Anything to the contrary contained in this Agreement
notwithstanding, Enzon agrees that there shall be no limitation on the amount of liability for which Enzon may be liable to either Savient or Mountain View Pharmaceuticals, Inc., for breach of this Section 5.4. 

  
  

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 5.5 Books and Records. Enzon shall maintain true and accurate books, records, test and
laboratory data, reports and all other information relating to manufacture of Product as required by regulation and in accord with current good manufacturing practices (“cGMP”) and as set forth in the Quality Agreement. 

5.6 Regulatory Inspections. Enzon shall make its facilities and all records relating to the Product manufacture available to the
Regulatory Authorities at times agreed with such authorities and shall notify Savient if the Regulatory Authority begins or schedules an inspection of Enzon’s records, facilities, or manufacturing processes related to the manufacture of Product
and provide Savient access to any documentation related to or resulting from the inspection as described in the Quality Agreement. 
 5.7
Debarment. Enzon hereby certifies it does not and shall not employ, contract with or retain any person directly or indirectly to perform services under this Agreement if such person is debarred under 21 U.S.C. 335a (a) or (b) or
other equivalent laws, rules, regulations or standards of any other relevant jurisdiction. 
 5.8 Regulatory Filings. Enzon will
cooperate in providing to Savient any non-confidential information in its control relating to this Agreement or the Product that Savient may reasonably require in connection with its regulatory or governmental filings, provided that such information
shall be provided in whatever form held by Enzon. If applicable, Enzon will provide a letter permitting applicable Regulatory Authority to reference its relevant drug master file. 

5.9 Product and Process. Enzon provides services to its customers on a contractual fee-for-service basis. Enzon warrants that it will
perform the Services with due care and in accordance with agreed upon protocols and/or specifications, the terms of this Agreement and any Work Plan hereunder, generally prevailing industry standards and Applicable Laws. Enzon warrants that its
fill/finish process does not and will not infringe on the rights of any third parties. 
 OF SAVIENT: 

5.10 Authority. Savient represents and warrants that it has full authority to enter into this Agreement. 

5.11 Savient-supplied Materials. Savient represents, warrants and covenants as follows: (i) all Savient-supplied Materials will be
supplied not later than four (4) weeks prior to a scheduled manufacturing date, as communicated to Savient pursuant to Section 3.4(a), so as to enable Enzon to complete manufacture and delivery of the Product in accordance with all
forecasts and firm purchase orders submitted by Savient and accepted by Enzon; (ii) all Savient-supplied Materials shall meet all relevant specifications, (iii) Savient shall take sole and exclusive responsibility for the quality and
sufficient supply of all such Savient-supplied Materials, including responsibility for all testing and inspection of the same except to the extent (if any) that Savient and Enzon agree that Enzon shall perform any such testing and/or inspections in
any Work Plan to this Agreement, and (iv) Enzon shall have no liability for a loss of Savient-supplied Materials except as set forth in Section 11.4. 

  
  

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 5.12 IP Rights. Savient represents, warrants and covenants that Savient has all the rights
necessary, including the rights to the Savient Trademarks, to permit Enzon to perform the Services hereunder without infringing the intellectual property rights of any third party. 

5.13 Debarment. Savient hereby certifies it does not and shall not employ, contract with or retain any person directly or indirectly to
perform services under this Agreement if such person is debarred under 21 U.S.C. 335a (a) or (b) or other equivalent laws, rules, regulations or standards of any other relevant jurisdiction. 

Section 6. ADDITIONAL PRODUCT SUPPLY TERMS 

6.1 Delivery. Delivery terms shall be FCA (Incoterms 2000) Enzon’s manufacturing facility in Indianapolis, Indiana (or such other
facility as the Parties may agree upon); Product shall be delivered in accordance with the timeframe set forth in the applicable purchase order. Title to Product and Savient-supplied Materials shall remain vested with Savient at all times. 

6.2 Rejected Goods; Failure of Supply. 

(a) Except as provided for in Section 11.4, Savient’s sole remedy for breach of Enzon’s warranty in Section 5.9 shall be to
require Enzon to re-perform the relevant services at Enzon’s cost. 
 (b) Concurrent with Enzon’s delivery to Savient of any
Product contemplated hereunder, Enzon shall provide to Savient a written, executed CofA demonstrating compliance of Product with all relevant Specifications; such CofA may be transmitted to Savient via facsimile or electronic mail. Promptly
following receipt of Product, Savient shall have the right but not the obligation to test such Product to determine compliance with the Specifications. Savient shall notify Enzon in writing of any rejection of Product based on any claim that the
Product fails to meet Specifications within thirty (30) days of delivery, after which point all unrejected Product shall be deemed accepted. Any rightly rejected Product that does not meet the Specifications shall, at Enzon’s sole
discretion and expense, either (i) be returned to Enzon within a reasonable period of time and relabeled or reworked as permitted in the Marketing Authorizations and Specifications, if permitted by the Applicable Laws, or (ii) be destroyed
in accordance with Applicable Laws. 
 (c) In the event that Enzon believes that Product has been incorrectly rejected, Enzon may require
that Savient provide to it Product samples for testing. Enzon may retain and test the samples of Product retained by it. In the event of a discrepancy between Savient’s and Enzon’s test results such that one Party’s test results fall
within relevant Specifications and the other Party’s test results fall outside the relevant Specifications, or there exists a dispute between the Parties over the extent to which such failure is attributable to a given Party, the Parties shall
cause an independent laboratory or appropriate expert promptly to review records, test data and perform comparative tests and/or analyses on samples of the alleged defective Product. Such independent laboratory or expert shall be mutually agreed
upon by the Parties, and shall be of such national repute as to allow both Parties to reasonably agree that the independent laboratory 

  
  

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or expert is sufficiently qualified to perform such analyses. The independent laboratory’s results shall be in writing and shall be final and binding save for manifest error. Unless
otherwise agreed to by the Parties in writing, the costs associated with such testing and review shall be borne by the Party against whom the independent laboratory rules. 

(d) Enzon shall replace any rightly rejected Product as promptly as practicable, using Commercially Reasonable Efforts to make available
manufacturing capacity, after the notice of such rejection, and in any case as soon as reasonably possible after receiving such notice, provided that Savient shall provide to Enzon sufficient quantities of Savient-supplied Materials at no additional
cost to Enzon. However, if the failure to meet Specifications is due to defects in the Savient-supplied Materials (where such defects are not due to any failure on the part of Enzon), or any other cause except Enzon’s failure to perform the
Services in accordance with this Agreement, Savient will pay the full cost of the rejected batch. 
 (e) The Parties agree that Savient shall
supply variable amounts of Bulk Product to Enzon for purposes of allowing Enzon to provide Services to fill and finish such Bulk Product into Product; the Parties further agree that.if Savient supplies to Enzon fifteen kilograms (15kg) or more
of Bulk Product for a single filling run that Enzon shall produce not less than ten thousand five hundred (10,500) vials of Product; if Enzon should fail to produce at least ten thousand five hundred (10,500) vials of Product as indicated
herein, then Savient shall pay to Enzon an amount equal to the per-vial price indicated on the attached Exhibit C multiplied by the actual number of vials produced. In the event that Savient supplies less than fifteen kilograms (15kg) of Bulk
Product to Enzon for a single filling run, then Savient shall pay to Enzon the minimum batch price indicated on Exhibit C attached hereto. 

6.3 Recall; Withdrawal; Modification; Complaints. Savient shall be responsible for the cost of and all losses associated with any recall
or product withdrawal or modification; provided, however, that to the extent that any such recall or product withdrawal is due to the gross negligence or willful misconduct on the part of Enzon, then Enzon shall reimburse Savient for all direct
costs associated with such recall or withdrawal, in addition to any other rights or remedies Savient may have, but in any case only to the extent attributable to Enzon. Enzon shall reasonably cooperate with Savient in connection with any recall,
withdrawal, or modification, at the expense of Savient except as otherwise provided for herein. Savient shall share with Enzon all relevant information relating to any such recall, withdrawal, or modification. In addition, Savient shall also
promptly and fully detail for Enzon any Product complaints or Field Alerts it receives insofar as any such complaints relate to the Services rendered by Enzon hereunder. Enzon shall cooperate with Savient to report any adverse events of which it
becomes aware in accordance with the terms of the Quality Agreement. Enzon shall only be responsible for the testing and protocols set forth in the Work Plan and Exhibits A and B, as applicable, and Savient is responsible for all other testing and
protocols. 
 Section 7. TERM AND TERMINATION 

7.1 Term. This Agreement shall commence on the Effective Date and shall remain in full force and effect unless terminated as provided
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 7.2 Termination. Subsequent to the first
(1st) anniversary of the Effective Date of this Agreement, this Agreement may be terminated by either party at any time by giving at least twenty-four (24) months prior written notice to
the other party as follows: either party may give notice to the other party thirty (30) days prior to every such anniversary date. During the 24-month period between the notice of termination and the effectiveness of such termination, the
Parties shall continue to cooperate with each other in good faith to effectuate the purpose of this Agreement; specifically, and without limitation, Savient may place, and Enzon shall accept and fulfill, forecasts and purchase orders for the
manufacture of Product, all in accordance with the terms and conditions of this Agreement. During the pendency of the effective date of the termination notice, Savient shall not reduce the final six (6) months of any previously submitted
forecast to zero (0) batches except if Enzon is the party which is terminating this Agreement. For the purposes of clarification only, the prohibition contained in the immediately preceding sentence shall not apply where the final six
(6) months of the most recently supplied forecast were identified as having zero (0) batches at the time that the notice of termination was provided. Except as provided for herein, if, at any time subsequent to the tendering of a notice of
termination pursuant to the terms herein, Savient reduces any of the final six months of the forecast to zero (0) batches, Savient shall pay Enzon a termination fee of $55,000 per batch. Enzon shall use Commercially Reasonable Efforts to
minimize the incurrence of any additional charges, fees or expenses which will not be utilized in the manufacture of the Product on behalf of Savient prior to the effective date of termination of this Agreement. Within thirty (30) days of the
effective date of the termination of this Agreement, Enzon shall provide to Savient any case reports, analyses and other deliverables which were prepared by Enzon, if any, prior to the date of termination and Enzon shall also provide Savient with a
written itemized statement of all Services performed by it hereunder and all costs incurred or for which Enzon is obligated. In the event of termination pursuant to this Section 7.2, Enzon shall be entitled to full payment for the Services
actually rendered by it hereunder and all non-cancelable costs incurred through the date of termination. In addition to the foregoing, if Savient terminates this Agreement or any Work Plan pursuant to this Section 7.2, Savient shall pay any
cancellation or postponement amounts set forth in Section 3.4(d); provided, however, that Enzon shall use Commercially Reasonable Efforts to mitigate any such cancellation or postponement amounts by scheduling, to the extent practicable,
additional third party manufacturing activities, with any such mitigation accruing to the benefit of Savient and proportionately reducing any cancellation or postponement amounts otherwise owing. If the amount already paid by Savient to Enzon
exceeds such amounts payable hereunder, Enzon shall refund such excess to Savient and if such amounts payable are greater than the amounts already paid by Savient to Enzon, then Savient shall pay the amount of such shortfall to Enzon. 

7.3 This Agreement may also be terminated by either party upon material default in performance of the other party, provided that any defaulting
party shall be given not less than ninety (90) days’ prior written notice of default and the opportunity to cure the default during such period. In the event this Agreement is terminated pursuant to this Section 7.3, Enzon shall be
entitled to full payment for the services provided by it hereunder (as set forth in any Work Plan(s) made a part hereof) and all costs incurred through the date of termination or for which Enzon is obligated as of the date of termination; provided,
however, that if Savient terminates this Agreement pursuant to this Section 7.3 then, anything to the contrary notwithstanding, 

  
  

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Enzon shall be entitled only to payment for such Services which it actually rendered on behalf of Savient through the effective date of termination. In addition to the foregoing, if Enzon
terminates this Agreement or any Work Plan pursuant to this Section 7.3, Savient shall pay any applicable cancellation or postponement amounts set forth in Section 3.4(d); provided, however, that Enzon shall use Commercially Reasonable
Efforts to mitigate any such cancellation or postponement amounts by scheduling, to the extent practicable, additional third party manufacturing activities, with any such mitigation accruing to the benefit of Savient and proportionately reducing any
cancellation or postponement amounts otherwise owing. If the amount previously paid by Savient exceeds such amount payable hereunder, the excess shall be refunded to Savient and if such amounts payable are greater than the amounts already paid by
Savient to Enzon, then Savient shall pay the amount of such shortfall to Enzon. 
 7.4 In the event that Savient’s BLA for the Product
is not approved by the FDA, and where such disapproval is final or otherwise not appealed by Savient, then either Party shall have the right, but not the obligation, to terminate this Agreement upon the provision of thirty (30) days notice to
the other Party. In the event this Agreement is terminated pursuant to this Section 7.4, Savient shall pay Enzon for packaging and labeling materials, any unpaid amounts for manufactured batches, and any reservation fees or other applicable
cancellation or termination fees, provided that Enzon shall use Commercially Reasonable Efforts to mitigate such fees. 
 7.5 In the event
that Savient’s BLA for the Product has not been approved by April 2009, then this Agreement shall continue in force and effect but any deliverables and obligations of the parties shall be held in abeyance for up to 18 months so as to allow
Savient to address any findings in such approvable letter issued by the FDA and resubmit the subject BLA. Savient shall pay any cancellation or postponement amounts set forth in Section 3; provided, however, that Enzon shall use Commercially
Reasonable Efforts to mitigate any such postponement amounts by scheduling, to the extent practicable, additional third party manufacturing activities, with any such mitigation accruing to the benefit of Savient and proportionately reducing any
cancellation or postponement amounts otherwise owing. Savient shall provide to Enzon notice of its receipt of an approvable letter from the FDA within five (5) business days of its receipt of same. After said 18 months lapses, Enzon shall have
the right to terminate this agreement immediately and with no penalty, and Savient shall pay all applicable cancellation and postponement amounts as set forth . 

7.6 This Agreement may be terminated immediately, upon written notice, upon either party’s bankruptcy (voluntary or involuntary),
insolvency, or placing of either party’s business in the hands of a receiver. 
 7.7 Survival. The rights and obligations of each
Party which by their nature survive the termination or expiration of this Agreement shall survive the termination or expiration of this Agreement, including Sections 4, 6, 7, 8, 9, 10, 11, 14, and 15 (to the extent relevant). In addition, Enzon
hereby acknowledges that neither expiration nor termination of this Agreement shall affect in any manner Savient’s right to manufacture and sell, or have manufactured and sold, the Product. 

  
  

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 Section 8. INTELLECTUAL PROPERTY 

8.1 Subject to Section 8.2, all Savient Intellectual Property supplied to Enzon or developed by Enzon in the course of performing the
Services hereunder are owned by Savient. All information developed by Enzon and related to the Bulk Product or the Product shall be disclosed to Savient promptly upon discovery or development by Enzon. Savient shall have the right to make any use of
such information and Enzon agrees to execute any documents which may be reasonably required to effectuate any assignment of inventorship contemplated by this provision, at Savient’s expense. Following completion of the Services outlined in any
Work Plan, Enzon will insure the return of all client data or other materials furnished to Enzon. Subject to Section 8.2, all intellectual property rights subsisting in or relating to any calculations, data, methods, specifications, papers,
documents, and any other items, material or information arising from the performance of the Services by Enzon under this Agreement are vested in and are the sole property of Savient and Enzon shall execute any and all documents reasonably requested
by Savient in order to effectuate the intent of this provision, at Savient’s expense. 
 8.2 Enzon shall own all rights to any invention
(whether or not patentable) relating to manufacturing and analytical methods and processes developed by Enzon in connection with Services performed hereunder that have general use in biopharmaceutical manufacturing, to the extent not specific to
Savient’s Product, and to the extent not directed to or derived from any pre-existing Savient Intellectual Property or MVP Confidential Information (“Process Invention”); provided that the provisions of this Section 8.2 shall not
apply to manufacturing and analytical methods and processes developed by Enzon at the direction of Savient. Except as specifically prohibited with respect to MVP Confidential Information, Enzon reserves the right to use data developed during the
course of performing Services hereunder to support applications, assignments or other instruments necessary to apply for and obtain patent or other intellectual property protection with respect to Process Inventions so long as no information which
Enzon is required to keep confidential under this Agreement or any other previously executed agreement between the Parties relating to confidentiality of information is disclosed in any such application, assignment, or other instrument without the
prior consent of Savient (not to be unreasonably withheld). For Process Inventions developed by Enzon in connection with performing services hereunder, Enzon will grant to Savient a perpetual, world-wide, royalty-free, non-exclusive license for
Savient to use such Process Inventions in the development and manufacture of the Savient Products. 
 Section 9. CONFIDENTIALITY 

9.1 For the duration of the Agreement and five (5) years thereafter with respect to Savient Confidential Information (as defined below),
or, in the case of MVP Confidential Information (as defined below), for twenty (20) years from the Effective Date of the Agreement, Enzon will not disclose, without Savient’s written permission, any such Savient Confidential Information or
MVP Confidential Information, unless such disclosure: (i) is to an Affiliate, agent, employee or consultant of Enzon that is under a similar obligation to keep such information confidential and such disclosure is reasonably necessary for the
performance of the Services contemplated herein; (ii) is or becomes publicly available through no fault of Enzon; 

  
  

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(iii) is disclosed by a third party entitled to disclose it; (iv) is already known to Enzon as shown by its prior written records; or, (v) is required by any law, rule, regulation,
order, decision, decree, subpoena or other legal process to be disclosed or in response to a request or order from a regulatory agency. If such disclosure is requested by a regulatory agency or legal process, Enzon will make all reasonable efforts
to notify Savient of this request promptly prior to any disclosure to permit Savient to oppose such disclosure by appropriate legal action. Enzon shall use reasonable precautions to protect the confidentiality of both Savient Confidential
Information and MVP Confidential Information in a manner that is comparable to precautions taken to protect is own proprietary information. As used herein, “MVP Confidential Information” means any Confidential Information that Savient
provides, or has provided, to Enzon which is specifically identified in writing as containing Mountain View Pharmaceuticals, Inc.’s proprietary technology for the manufacture of PEGylated uricase (Puricase®/pegloticase), specifically including the documents referenced in Schedule A of the Second Amendment to the Agreement for Services between Savient and Enzon dated October 31, 2006, which the
Parties have agreed to in a letter dated September 12, 2007, as containing Confidential Information belonging to Mountain View Pharmaceuticals, Inc; “Savient Confidential Information” means any Confidential Information provided by
Savient to Enzon, with the sole exception of MVP Confidential Information, during the term of the Agreement. 
 9.2 For the duration of the
Agreement and five (5) years thereafter with respect to Savient Confidential Information, or in the case of MVP Confidential Information, for twenty (20) years from the Effective Date of the Agreement, Enzon will not use such Confidential
Information except in connection with the performance of Services under the Agreement or any other Agreement between Savient and Enzon related to Savient’s PEGylated uricase
(Puricase®/pegloticase) product and in particular represents and warrants that it will not utilize such Confidential Information in the manufacturing of any other product. 

9.3 For twenty (20) years from the Effective Date of the Agreement, Savient will not disclose, without Enzon’s written permission,
any Confidential Information belonging to Enzon which is provided to Savient by Enzon during the Term of the Agreement (“Enzon Confidential Information”) unless such disclosure: (i) is to an affiliate, agent, employee or consultant of
Savient that is under a similar obligation to keep such information confidential; (ii) is or becomes publicly available through no fault of Savient; (iii) is disclosed by a third party entitled to disclose it; (iv) is already known to
Savient as shown by its prior written records; or, (v) is required by any law, rule, regulation, order decision, decree, subpoena or other legal process to be disclosed or in response to a request or order from a regulatory agency. If such
disclosure is requested by a regulatory agency or legal process, Savient will make all reasonable efforts to notify Enzon of this request promptly prior to any disclosure to permit Enzon to oppose such disclosure by appropriate legal action. Savient
shall use reasonable precautions to protect the confidentiality of Enzon Confidential Information in a manner that is comparable to precautions taken to protect its own proprietary information. 

9.4 If either Party shall be obliged to provide testimony or records pertaining to the Confidential Information provided by the other in any
legal or administrative proceeding, then the Party which supplied the Confidential Information shall reimburse the other Party for its out-

  
  

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of-pocket costs therefore plus an hourly fee for its employees or representatives equal to the internal fully burdened costs of such employee or representative. 

9.5 For both Parties, “Confidential Information” shall mean and include, without limitation, such types of information as:
inventions, methods, plans, processes, specifications, characteristics, raw data, analyses, equipment design, trade secrets, costs, marketing, sales, and product performance information, including patents and patent applications, grant applications,
notes, and memoranda, whether in writing or presented, stored or maintained electronically, magnetically or by other means, which are disclosed by the disclosing Party to the recipient Party in writing or in other tangible form and marked
“confidential” or, if disclosed orally (or in some other non-tangible form), are identified as confidential to the recipient Party in writing within sixty (60) days of such disclosure; provided, however, that failure to reduce
any verbal disclosure to writing shall not, in and of itself, vitiate the confidential nature of such Confidential Information and provided, further, that for the purposes of this Agreement, Confidential Information shall include any and all such
information exchanged between the Parties prior to the Effective Date of this Agreement pursuant to the Confidentiality Agreement between the Parties dated July 24, 2006.” 

Section 10. INSURANCE 
 Each Party
shall for the term of this Agreement and for two (2) years after the last Product is delivered, obtain and maintain at its own cost and expense from a qualified insurance company, comprehensive general liability insurance including, but not
limited to, contractual liability coverage and standard product liability coverage in an amount commensurate with industry standards. Savient shall for the term of this Agreement and for two (2) years after the last Product is delivered, obtain
and maintain at its own cost and expense from a qualified insurance Savient, insurance coverage for losses of inventory at Enzon’s facility prior to, and following manufacture of the Product. At a Party’s request, the other Party shall
provide it with proof of such coverage. 
 Section 11. INDEMNIFICATION AND LIMITS OF LIABILITY 

11.1 Without limiting Enzon’s rights under law or in equity, Savient agrees to indemnify and hold harmless Enzon and its employees,
directors and agents from and against any loss, damage, cost and expense (including without limitation attorneys’ fees and expenses) incurred in connection with any claims, proceedings or investigations arising directly or indirectly from
(a) the manufacture, promotion, marketing, distribution or sale of the Product, (b) use or exposure to Product or any material provided to Enzon by Savient, (c) use of any Savient Intellectual Property provided by Savient to Enzon
(but only in cases where Savient has provided such Savient Intellectual Property for Enzon’s use) or any infringement of the intellectual property rights of any third party related to the Product, or (d) any breach of Savient’s
representations and/or warranties, except to the extent any such claim is the result of Enzon’s gross negligence or willful misconduct. 

  
  

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 11.2 Without limiting Savient’s rights under law or in equity, Enzon agrees to indemnify and
hold harmless Savient and its employees, directors and agents from and against any loss, damage, cost and expense (including without limitation attorneys’ fees and expenses) incurred in connection with any claims, proceedings or investigations
arising out of or in connection with (a) this Agreement and the Product produced and the Services rendered hereunder to the extent that such claim, proceeding or investigation is based on the gross negligence or willful misconduct of Enzon or
its employees, (b) any breach of Section 9.2 of this Agreement with respect to MVP Confidential Information, (c) any breach of the representations made by Enzon in the Letter Agreement between Enzon and Savient dated
September 12, 2007, attached hereto as Exhibit E; but in any case only to the extent attributable to Enzon. 
 11.3 Any party seeking
indemnification pursuant to this Section 11 (the “Indemnitee”) shall give notice within five (5) days to the party from whom indemnification is sought (the “Indemnitor”) of any claim, proceeding or
investigation; provided, however, that any failure to notify the Indemnitor within such five (5) day period shall not negate the rights of indemnification granted hereunder except to the extent that the Indemnitor is actually prejudiced by such
delay in notification. The Indemnitee shall cooperate in the defense of such claim, proceeding or investigation, subject to reimbursement by the Indemnitor for all reasonable out-of-pocket expenses. The Indemnitor shall, at its option, assume
control of the defense of any such claim, proceeding or investigation. The indemnities set forth in Sections 11.1 and 11.2 shall include amounts paid in settlement provided, however, that no such settlement shall be entered into without the
Indemnitor’s consent, which consent shall not be unreasonably withheld. 
 11.4 As Savient’s sole remedy, Enzon agrees to reimburse
Savient up to a maximum of $25,000 per batch, pro-rated over the usable portion of the batch, if applicable, for any loss of Savient-supplied Materials for each batch that does not meet Specifications or was not manufactured in accordance with the
Manufacturing Process or cGMP or the requirements of this Agreement, and therefore cannot be released or otherwise utilized for its intended purpose; provided that the loss of such materials can be shown after investigation to be caused solely and
directly by: (a) the failure of Enzon to follow its SOP’s; or (b) Enzon’s negligence, gross negligence, willful misconduct, or breach of this Agreement. In addition to this payment, if due to Enzon’s gross negligence,
willful misconduct, or breach of this Agreement, Enzon will re-perform the Services as provided in Section 6.2(a) . 
 11.5 SECTION 11.4
IS SAVIENT’S SOLE AND EXCLUSIVE REMEDY FOR ANY LOSSES OF SAVIENT-SUPPLIED MATERIAL AS A RESULT OF PRODUCT THAT DOES NOT COMPLY WITH THE SPECIFICATIONS OR THE OTHER REQUIRMENTS OF THIS AGREEMENT. UNDER NO CIRCUMSTANCES SHALL ENZON BE LIABLE TO
SAVIENT OR ANY THIRD PARTY FOR ANY CONSEQUENTIAL, INDIRECT (INCLUDING LOST REVENUES OR PROFITS), SPECIAL, OR OTHER DAMAGES, AND THE WARRANTY SET FORTH IN SECTION 5.9 IS THE SOLE AND EXCLUSIVE WARRANTY AND IN LIEU OF ANY AND ALL OTHER WARRANTIES
RELATING TO THE SERVICES TO BE PERFORMED, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR FOR NON-INFRINGEMENT OF INTELLECTUAL

  
  

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PROPERTY RIGHTS. ENZON’S MAXIMUM LIABILITY FOR DAMAGES IN CONNECTION WITH A CLAIM RELATED TO THIS AGREEMENT, REGARDLESS OF THE CAUSE OF ACTION, WILL NOT EXCEED THE SUM TOTAL OF THE AMOUNTS
PAID BY SAVIENT TO ENZON IN THE PRECEEDING TWELVE (12) MONTHS. 
 EXCEPT AS EXPRESSLY STATED HEREIN, NEITHER PARTY PROVIDES TO THE
OTHER PARTY HERETO ANY WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICES PROVIDED HEREUNDER, AND ALL SUCH WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR
PURPOSE ARE WAIVED, OTHER THAN AGREED HEREIN. WITHOUT LIMITING THE PROVISIONS OF SECTION 5.9 AND 6.2(e), ENZON MAKES NO WARRANTIES THAT THE EXECUTION OF THIS AGREEMENT WILL RESULT IN ANY SPECIFIC QUANTITY OR QUALITY OF PRODUCT. 

Section 12. PUBLICITY AND PUBLICATIONS 

Neither Savient nor Enzon shall make any news release or other public statement, whether to the press or otherwise, disclosing the existence of
this Agreement, the terms thereof, or of any amendment thereto without the prior written approval of the other Party, except as required by Applicable Laws including, without limitation, those regulations promulgated by the United States Securities
and Exchange Commission. 
 Section 13. FORCE MAJEURE AND CHANGE IN CIRCUMSTANCES 

If either Party shall be delayed or hindered in or prevented from the performance of any act required hereunder by reason of strike, lockouts,
labor troubles, restrictive governmental or judicial orders or decrees, riots, insurrection, war, terrorist acts, acts of God, inclement weather, or other reason or cause reasonably beyond such Party’s control (each a “Force
Majeure”), then performance of such act shall be excused for the period of such Force Majeure. The Party affected by the Force Majeure shall provide notice to the other of the commencement and termination of the Force Majeure. Should a Force
Majeure continue for more than three (3) months, the Party unaffected by the Force Majeure may terminate this Agreement upon prior written notice to the affected Party. If the Force Majeure equally affects the ability of each Party to perform
under this Agreement, then such termination shall only be by mutual written agreement. In the event of any other type of unforeseen material change in circumstances (that does not qualify as force majeure), both parties agree to negotiate in good
faith to find a commercially reasonable solution. 
 Section 14. NOTICES 

14.1 All administrative communications provided for in this Agreement shall be sent via first class mail (subject to Section 14.2 below),
postage prepaid, addressed to the respective parties as follows: 
  

			
	To Enzon:	  	To Savient

  
  

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	Executive Vice President, Operations	  	Vice President, Technical Operations
	Enzon Pharmaceuticals, Inc.	  	Savient Pharmaceuticals, Inc.
	685 Route 202/206	  	One Tower Center, 14th Floor
	Bridgewater, New Jersey 08807	  	East Brunswick, NJ 08816
	United States of America	  	United States of America
		
	With a copy to:	  	
		
	Legal Department	  	General Counsel
	Enzon Pharmaceuticals, Inc.	  	Savient Pharmaceuticals, Inc.
	685 Route 202/206	  	One Tower Center, 14th Floor
	Bridgewater, New Jersey 08807	  	East Brunswick, NJ 08816
	United States of America	  	USA

 14.2 Original documents and other than routine correspondence required under this Agreement shall be sent by
certified mail and addressed to the respective parties at the addresses set forth in Section 14.1. All legal notices shall be in writing and sent by certified mail, return receipt requested. Such notices shall be effective on receipt. All
routine correspondence between the Parties may be sent via electronic mail, facsimile or by regular mail. 
 Section 15. MISCELLANEOUS 

15.1 Amendments; Assignment. This Agreement, including any Work Plans or other attachments, may not be altered, amended or modified
except by a written document signed by both Parties. Enzon will not assign this Agreement without the prior written consent of Savient and any purported assignment in contravention of this Section shall be null and void; provided, however, that
either Party may assign this Agreement in connection with the sale of all or substantially all of its assets related to this Agreement or the Services to be provided hereunder; provided, further, that any such successor or assignee assumes and
accepts in writing all obligations of the purported assigning party hereunder. 
 15.2 Subcontracting. Enzon may subcontract or
delegate any of its rights or obligations under this Agreement with the prior written authorization of Savient, such authorization not to be unreasonably withheld. Enzon shall cause any subcontractor to be subject by contract to the same
restrictions, exceptions, obligations, reports, termination provisions and other provisions contained in this Agreement. 
 15.3
Successors; Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and each of their respective successors and permitted assigns. 

15.4 Severability. All agreements and covenants contained herein are severable, and in the event any of them shall be held to be invalid
by any competent court, this Agreement shall be interpreted as if such invalid agreements or covenants were not contained herein. 

  
  

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 15.5 Entire Agreement. This Agreement, including the attached Work Plans, constitutes the
entire agreement between the Parties and supersedes all prior communications, representations, or agreements, either verbal or written between the Parties which are specifically related to the subject matter contemplated herein; anything to the
contrary notwithstanding, any previously executed Confidentiality and Nondisclosure Agreement shall remain valid and enforceable in accordance with its terms. Each Party confirms that it is not relying on any representations or warranties of the
other Party except as specifically set forth herein. 
 15.6 Independent Contractor. This Agreement shall not be deemed to create any
partnership, joint venture, or agency relationship between the Parties. Each Party shall act hereunder as an independent contractor and its agents and employees shall have no right or authority under this Agreement to assume or create any obligation
on behalf of, or in the name of, the other Party. All persons employed by a Party shall be employees of such Party and not of the other Party, and all costs and obligations incurred by reason of any such employment shall be for the account and
expense of such Party. 
 15.7 Waiver. The waiver by either Party of any right hereunder shall not be deemed a waiver of any other
right hereunder. 
 15.8 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. 
 15.9 Headings. The headings used in
this Agreement are for convenience only and are not a part of this Agreement. 
 15.10 Governing Law. This Agreement shall be
construed and enforced in accordance with the laws of the State of New Jersey, without application of its principles of conflict of laws. 

15.11 Audits. Once each calendar year during the term of this Agreement, Savient and its agents and designees shall have the right to
audit Enzon’s facilities, systems, records solely related to this Agreement or the Product. Such audits may be conducted upon reasonable notice during the term of this Agreement, so long as (i) all auditors have entered into
confidentiality agreements relating to the materials to be reviewed, (ii) no materials are removed from the premises of Enzon, provided, however, that Savient may make and retain copies of Enzon materials as may be reasonably necessary solely
for purposes of completing the contemplated audit and any such materials shall be considered confidential, and (iii) a copy of all findings is provided to Enzon. All costs for such audits shall be paid by Savient. For the avoidance of doubt,
pre-approval inspections shall be considered an audit under this Section 15.11. Anything to the contrary notwithstanding, in the event that an audit is required due to batch failures or because the Services are not rendered in accordance with
the terms of this Agreement (including any Work Plan), then such for-cause audit shall not count towards the annual audit provided for herein. 

15.12 Nonsolicitation. For the term of this Agreement, and for twelve (12) months following termination of this Agreement, for any
reason, neither Savient nor Enzon nor any of 

  
  

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their employees or agents shall, directly or indirectly, solicit any employees of the other, who have been involved in the Services, unless otherwise approved by the other party. 

IN WITNESS WHEREOF, each of the Parties hereto has caused this Commercial Supply Agreement to be executed by its duly authorized
representative as of the date written above.  
  

									
	ENZON PHARMACEUTICALS, INC.	 		 	SAVIENT PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Ralph del Campo
	 		 	By:	 	 /s/ Philip K. Yachmetz

		 	Ralph del Campo	 		 		 	Philip K. Yachmetz
		 	EVP - Operations	 		 		 	EVP & Chief Business Officer

  
  

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 Exhibit A 

Work Plan 
 Enzon will fill, inspect,
package and test the Product using the components defined below and the process as outlined on the following Process Flow Diagram. 
 COMPONENTS:

  

											
	 Bulk Product
	  	Supplier	  	Form	  	Concentration
in Bulk
Formulation	  	Storage
Conditions	 	Special
Handling
	 Bulk Product formulated, prefiltered peg-uricase
	  	Savient
through
contract
manufacturers	  	0.22 micron
filtered
liquid	  	8 mg/mL	  	2-8°C	 	Prevent from
freezing

 CONTAINER CLOSURE COMPONENTS: 
  

											
	 Description
	  	Enzon
Part #	  	Manufacturer/Part #	  	 	  	Height, min	  	OD, mm
	 2 mL, 13 mm Vial
	  	530-101	  	Alcan/2702-B9BA	  		  	31.5-32.5 mm	  	14.5-15.00 mm
	 13 mm Stopper
	  	520-010	  	West
Pharmaceutical
Services/1012-4668	  	STOPPER,
13MM,
4416/50,
GREY,
FEP	  		  	
	 Seal, 13 mm, FO, AL Purple #0527
	  	510-002	  	54130024	  		  		  	

  

					
	Packaging Components
	 Description
	  	Enzon Part #	  	Supplier Part #
	 Carton, Puricase USA
	  	C49011USA	  	C49011USA
	 Carton Label, Puricase USA
	  	CL49011USA	  	CL49011USA
	 Vial Holder, Puricase USA
	  	H49011USA	  	H49011USA
	 Package Insert, Puricase USA
	  	I49011USA	  	I49011USA
	 Packer, Puricase USA
	  	P49011USA	  	P49011USA
	Vial Label, Puricase USA	  	V49011USA	  	V49011USA

  
  

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Commercial Supply Agreement 

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Commercial Supply Agreement 

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 Exhibit B 

Final Product Release Specifications 
  

					
	 Parameter
	  	Test Method	 	Specification
	 Endotoxin
	  	ACM-0073	 	<80 EU/mL
	 Sterility
	  	ACM-0071	 	Sterile
	 Particulates
	  	ACM-0070 (Light
Obscuration method)	 	Size >10 μm: <6000 particles per vial
 Size >25 μm:
<600particles per vial

 In-Process Product Specifications 

 

					
	 Parameter
	  	Test Method	  	Specification
	 Bioburden (in-process only)
	  	ACM-0072	  	<10 CFU/100 mL
	 Identity
	  	ACM-1900	  	Positive for Urate Oxidase activity
	 Bulk Sterility
	  	ACM-007	  	Sterile

  
  

Commercial Supply Agreement 

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 Exhibit C 

Product Price 
  

			
	 Commercial Manufacturing
	  	 Price

	 Activitites Included
  

•    Prepare Master Batch Records

 
 •    Materials to be
packed with one vial and product insert per carton.
  

•    Commercial Batch Prices are effective on 1 January 2008, and are effective through
31 December 2009.
  

•    Enzon reserves the right to increase prices pursuant to the terms of the Supply
Agreement.
  

•    Release testing of batches; provision of CoA

 
 •    Supply temperature
recorders to Drug Substance manufacturer for shipping. Download and provide temperature data to Savient.
	  	 $20.80 per vial
  

The minimum price per batch of $218,400.00 shall apply in accordance with the terms of Section 6.2(e) of the Agreement.

 Puricase Final Drug Product Stability test Schedule at 5°C ±3°C 

Endotoxin and Sterility At Each Pull Point 

Price is per each lot tested 
  

																													
	 Setup &

initiation Fee
	  	Initial Test	 	  	3 Months	 	  	6 Months	 	  	12 Months	 	  	24 Months	 	  	36 Months	 	  	Total Cost	 
	 $1,900
	  	$	5,150	  	  	 	N/T	  	  	 	N/T	  	  	$	5,150	  	  	$	5,150	  	  	$	5,150	  	  	$	22,500	  

 Puricase Final Drug Product
Stability test Schedule at 25°C ±2°C and 70% ±5% Relative Humidity 
 Endotoxin and Sterility At Each Pull Point

 Price is per each lot tested 
  

																													
	 Setup &

initiation Fee
	  	Initial Test	 	  	1 Months	 	  	2 Months	 	  	3 Months	 	  	6 Months	 	  	 	 	  	Total Cost	 
	 $1,900
	  				  	$	5,150	  	  	$	5,150	  	  	$	5,150	  	  	$	5,150	  	  				  	$	22,500	  

 Stability studies will be conducted on batches requested in advance by Savient. Prices will be in effect for stability studies
initiated on 2008 or 2009 and subject to review at the end of 2009. 
  

			
	 Professional Services Fee Structure
	  	 Price

	 •    One (1) man-hour
	  	 $195.00
  

Enzon to update prices on or

about January 1 of every year

 Terms: Purchase Orders are required for each scheduled batch. 

 

	 	•	 	Invoice for vials produced will be sent upon shipment of materials. Payment due net 30 days. 

  

	 	•	 	Delivery terms are FCA Enzon’s manufacturing facility in Indianapolis, IN 

  

	 	•	 	Cancelled and postoponed batches shall be billed in accordance with Section 3.4(d). 

  
  

Commercial Supply Agreement 

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 Exhibit D 

Product Forecast 
 Savient has provided
the following forecast for the 28 month period beginning October 2008. 
 (See following page.) 

  
  

Commercial Supply Agreement 

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 Exhibit E 

Letter Agreement 
 (see
attached) 

  
  

Commercial Supply Agreement 

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	September 12, 2007	  	Our Ref: pky/jmw

 Enzon Pharmaceuticals, Inc. 

Attn: Thomas J. Puskar 
 685 Route 202/206 

Bridgewater, New Jersey 08807 
  

	 	Re:	Second Amendment to Agreement for Services (“Agreement”) between Savient Pharmaceuticals, Inc. (“Savient”) and Enzon Pharmaceuticals, Inc. (“Enzon”) dated October 31, 2006 and as
amended on June 15, 2007 

 Dear Mr. Puskar: 

Pursuant to Section 13,01 of the Agreement, Savient and Enzon hereby agree to amend the Agreement by repealing Section 4: Confidentiality and
replacing it as follows: 
 “4.01: For the duration of the Agreement and five (5) years thereafter with respect to Savient
Confidential Information (as defined below), or, in the case of MVP Confidential Information (as defined below), for twenty (20) years from the Effective Date of the Agreement, Enzon will not disclose, without Savient’s written permission,
any such Savient Confidential Information or MVP Confidential Information, unless such disclosure: (i) is to an affiliate, agent, employee or consultant of Enzon that is under a similar obligation to keep such information confidential and such
disclosure is reasonably necessary for the performance of the Services contemplated herein; (ii) is or becomes publicly available through no fault of Enzon; (iii) is disclosed by a third party entitled to disclose it; (iv) is already
known to Enzon as shown by its prior written records; or, (v) is required by any law, rule, regulation, order decision, decree, subpoena or other legal process to be disclosed or in response to a request or order from a regulatory agency. If
such disclosure is requested by a regulatory agency or legal process, Enzon will make all reasonable efforts to notify Savient of this request promptly prior to any disclosure to permit Savient to oppose such disclosure by appropriate legal action.
Enzon shall use reasonable precautions to protect the confidentiality of both Savient Confidential Information and MVP Confidential Information in a manner that is comparable to precautions taken to protect its own proprietary information. As used
herein, “MVP Confidential Information” means any Confidential Information that Savient provides, or has provided, to Enzon which is specifically identified in writing as containing Mountain View Pharmaceuticals, Inc.’s proprietary
technology for the manufacture of PEGylated uricase 
 Cont.../... 

 
(Puricase®/pegloticase), specifically including the documents referenced in the attached Schedule A, which the Parties have agreed to in a
letter dated September 12, 2007, as containing Confidential Information belonging to Mountain View Pharmaceuticals, Inc; “Savient Confidential Information” means any Confidential Information provided by Savient to Enzon, with the sole
exception of MVP Confidential Information, during the Term of the Agreement, 
 4.02 For the duration of the Agreement and five
(5) years thereafter with respect to Savient Confidential Information, or in the case of MVP Confidential Information, for twenty (20) years from the Effective Date of the Agreement, Enzon will not use such Confidential Information except
in connection with the performance of Services under the Agreement or any other Agreement between Savient and Enzon related to Savient’s PEGylated uricase (Puricase®/pegloticase) product
and in particular represents and warrants that it will not utilize such Confidential Information in the manufacturing of any other product. 

4.03 For twenty (20) years from the Effective Date of the Agreement, Savient will not disclose, without Enzon’s written permission,
any Confidential Information belonging to Enzon which is provided to Savient by Enzon during the Term of the Agreement (“Enzon Confidential Information”) unless such disclosure: (i) is to an affiliate, agent, employee or consultant of
Savient that is under a similar obligation to keep such information confidential; (ii) is or becomes publicly available through no fault of Savient; (iii) is disclosed by a third party entitled to disclose it; (iv) is already known to
Savient as shown by its prior written records; or, (v) is required by any law, rule, regulation, order decision, decree, subpoena or other legal process to be disclosed or in response to a request or order from a regulatory agency. If such
disclosure is requested by a regulatory agency or legal process, Savient will make all reasonable efforts to notify Enzon of this request promptly prior to any disclosure to permit Enzon to oppose such disclosure by appropriate legal action. Savient
shall use reasonable precautions to protect the confidentiality of Enzon Confidential Information in a manner that is comparable to precautions taken to protect its own proprietary information. 

 

	4.04	If either Party shall be obliged to provide testimony or records pertaining to the Confidential Information provided by the other in any legal or administrative proceeding, then the Party which supplied the Confidential
Information shall reimburse the other Party for its out-of-pocket costs therefore plus an hourly fee for its employees or representatives equal to the internal fully burdened costs of such employee or representative. 

Cont.../... 

  
 2 

 4.05. For both Parties, “Confidential Information” shall mean and include, without
limitation, such types of information as: inventions, methods, plans, processes, specifications, characteristics, raw data, analyses, equipment design, trade secrets, costs, marketing, sales, and product performance information, including patents
and patent applications, grant applications, notes, and memoranda, whether in writing or presented, stored or maintained electronically, magnetically or by other means, which are disclosed by the disclosing Party to the recipient Party in writing or
in other tangible form and marked “confidential” or, if disclosed orally (or in some other non-tangible form), are identified as confidential to the recipient Party in writing within sixty (60) days of such disclosure; provided,
however, that failure to reduce any verbal disclosure to writing shall not, in and of itself, vitiate the confidential nature of such Confidential Information and provided, further, that for the purposes of this Agreement, Confidential Information
shall include any and all such information exchanged between the Parties prior to the effective date of this Agreement pursuant to the Confidentiality Agreement between the Parties dated July 24, 2006.” 

To signify your acceptance of this Amendment, kindly countersign and return one copy to my attention. 

Should you have any questions, please do not hesitate to contact John Petrolino at (732) 565-4655. 

Very truly yours, 
 /s/ Philip K. Yachmetz 

Philip K. Yechmetz 
 Executive Vice President 

Chief Business Officer 
 I hereby agree to the terms and
conditions contained herein. 
 Enzon Pharmaceuticals, Inc. 
  

			
	By:	 	 /s/ Ralph del Campo

	Name:	 	Ralph del Campo
	Title:	 	EVP Technical Operations
	Date:	 	9/17/07

  
 3 

 SCHEDULE A 

List of Confidential Documents identified pursuant to 

Section 4.01 of this Agreement in the letter of September 12, 2007 

 

	1.	01V398-3.pdf - Report on the validation of the kinetic turbidimetric method for measuring endotoxin. 

  

	2.	03V715-2.pdf - Report on the validation of the KT Endotoxin method using a plate reader 

  

	3.	04-68-500.pdf SOP for the endotoxin method. 

  

	4.	04-68-275 - UV Activity Assay. 

  
 4 

 Exhibit F 

QUALITY AGREEMENT 
 Quality Technical
Agreement for: 
 PRODUCT: Puricase® (PEG-Uricase) 

DOSAGE/FORM: 8 mg/ml per vial  
 This Quality Agreement
shall be read in conjunction with a commercial Supply Agreement between ENZON and SAVIENT (“Supply Agreement”), dated as of October 16, 2008 and is incorporated into the Supply Agreement. Capitalized terms not defined herein shall
have the respective meanings set forth in the Supply Agreement. The effective date of this Quality Agreement shall be the Effective Date of the Supply Agreement. 

This Quality Agreement defines the duties of ENZON and SAVIENT for the contract pharmaceutical manufacture of Product. In particular this Quality Agreement
clearly states who is responsible for the cGMP aspects of manufacturing and specifies the way in which the Party releasing Product for sale ensures that the Product complies with the approved Product Specifications (defined below) and the Marketing
Authorizations (defined below). 
 This Quality Agreement takes the form of a detailed checklist of all the activities associated with pharmaceutical
production, analysis, release, and distribution. Responsibility for each activity is assigned to either ENZON or SAVIENT in the appropriate box in the Delegation Responsibility Checklist which follows. 

In order to provide better quality assurance, ENZON will perform the activities defined herein in accordance with its Standard Operating Procedures (defined
below) to the extent that a Standard Operating Procedure is applicable to such activity. 
 This Agreement is subject to the terms of the Supply Agreement.
A breach of this Quality Agreement shall be deemed a breach of the Supply Agreement. In the event of a conflict between this Quality Agreement and the Supply Agreement, the Supply Agreement shall control. 

This Quality Agreement is intended to comply with the guidance and directives set forth in the current versions and effective amendments of (I) FDA
Guidance for Industry, Cooperative Manufacturing Arrangements for Licensed Biologics, August 1999; (ii) 21 CFR 210 & 211 and applicable portions of 21 CFR 600 through 610; and (iii) European Commission Directive 91/356 down the
principles and guidelines of good manufacturing practice for medicinal Products for human use. This will be made accessible to relevant regulatory authorities if required by them. 

[signature page follows] 

  
  

Commercial Supply Agreement 

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 The Parties have caused their duly authorized representatives to executed this Quality Agreement, effective as of
October 16, 2008. 
  

					
	SAVIENT PHARMACEUTICALS, Inc.	  		  	ENZON PHARMACEUTICALS, Inc.
			
	 /s/ Robert Lamm
	  		  	 /s/ Christian W. Dreyer

	Signature	  		  	Signature
			
	 Robert Lamm
	  		  	 Christian W. Dreyer

	Printed Name	  		  	Printed Name
			
	 SVP, QA, RA
	  		  	 V.P. QOP

	Title	  		  	Title
			
	 10/16/08
	  		  	 10/21/08

	Date	  		  	Date

  
  

Commercial Supply Agreement 

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 For purposes of this Quality Agreement, the following definitions shall apply: 

 

	A.	“FDA” shall mean the United States Food and Drug Administration, and any successor entity thereto. 

  

	B.	“Marketing Application” shall mean an application for Product marketing authorization which has not yet been approved by the FDA or other regulatory authority, including, without limitation, FDA New Drug
Application, FDA Biologics License Application, and other similar marketing applications promulgated by regulatory authorities. 

  

	C.	“Marketing Authorizations” shall mean any approved application for Product marketing authorization, including, without limitation, FDA New Drug Application, FDA Biologics License Application, and other similar
marketing authorizations promulgated by international regulatory authorities. 

  

	D.	“Process” or “Processing” shall mean the sterile compounding, filling, producing and/or packaging of the raw materials into Product in accordance with the Product Specifications and the terms and
conditions set forth in the Supply Agreement and this Quality Agreement. 

  

	E.	“Product Specifications” shall mean the procedures, requirements, specifications, standards, quality control testing, other data and scope of Supply related to the Product, as set forth in the Project Plan
and/or attached hereto. ENZON shall not release Product if these parameters are not met and investigation shows the non-complying parameter to be a valid test result. 

 

	F.	“Standard Operating Procedures” or “SOPS” shall mean the standard operating procedures in effect at ENZON which have been approved by ENZON Quality Assurance department and which are applicable to
the Processing; provided that all Standard Operating Procedures applicable to the Processing or the Product shall also be approved by SAVIENT. 

  

	G.	“Bulk Product” shall mean the bulk solution of methoxy-polyethylene glycol (m-PEG) conjugate of uricase supplied by Savient to Enzon pursuant to this agreement. 

 

	H.	“Business Day” shall mean Monday through Friday excluding government holidays. 

  

	I.	“Component” shall mean all packaging materials utilized during manufacture, including all primary and secondary packaging materials. 

 

	J.	“Deviation” shall mean any planned or unplanned event or result that is different from the expected event or result defined in existing procedures or specifications. 

  
  

Commercial Supply Agreement 

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	K.	“Filled Product” shall mean in-process sterile Product that has been filled into its final primary package for further labeling and packaging. 

 

	L.	“Product” shall mean sterile Product in its final packaged and labeled form that is ready for disposition. 

  

	M.	“Manufacture” shall mean finished drug Product pooling, filling, packaging, and associated in-process and stability testing, as applicable. 

 

	N.	“Master Production Control Record (MPCR)” shall mean a master document that represents a detailed procedure and data record for the batch manufacturing process, pursuant to CFR 21 §211.186.

  

	O.	“Out of Specification (OOS)” shall mean any in-process, intermediate, or finished Product test result that is outside of acceptable ranges defined in approved specifications or analytical test methods.

  

	P.	“cGMPs’ shall mean current good manufacturing practices as promulgated by the FDA under the United States Food, Drug, and Cosmetic Act, 21 C.F.R. Part 210 et seq., as amended from time to time, and the
European Union. 

 The following Facilities shall be used by ENZON for Processing or provision of Supply (“Facilities”): 

 

	
	 Manufacturing, Packaging, Testing and Storage

	 6925 Guion Rd.

Indianapolis, IN 46268

USA

 Section 16. RESPONSIBILITY DELEGATION CHECKLIST 

 

							
	 	  	 RESPONSIBILITIES
	  	SAVIENT	  	ENZON
	1.	  	Regulatory Authorizations & cGMP Compliance	  	
				
	1.1	  	Maintain all licenses, registrations and other authorizations as are required to operate a cGMP pharmaceutical manufacturing facility under the Applicable Laws.	  		  	X
				
	1.2	  	Maintain and operate the Facility in compliance with the cGMPs, Applicable Laws and all other Product-specific instructions and requirements agreed to by the Parties.	  		  	X

  
  

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	 	  	 RESPONSIBILITIES
	  	SAVIENT	  	ENZON
	1.3	  	Process the Product in accordance with the cGMPs, Applicable Laws and all other Product-specific instructions and requirements agreed to by the Parties.	  		  	X
				
	1.4	  	Prepare, maintain and update the Marketing Authorizations in accordance with cGMPs, Applicable Laws and all other Product-specific instructions and requirements agreed to by the Parties.	  	X	  	
				
	1.5	  	Provide ENZON with copies of those portions of the Marketing Applications which are applicable to the Processing, prior to submission of such Marketing Applications to the applicable regulatory authorities.	  	X	  	
				
	1.6	  	Provide ENZON with copies of updates of those portions of the Marketing Authorizations which are applicable to the Processing, prior to submission of such Marketing Applications to the applicable regulatory authorities.	  	X	  	
				
	1.7	  	Satisfy all drug listing filing requirements for all Product and packaging configurations processed at the Facilities.	  		  	X
				
	1.8	  	Prepare and submit post-marketing annual reports to the FDA and other applicable regulatory authorities in accordance with cGMPs, Applicable Laws and all other Product-specific instructions and requirements agreed to by the
Parties.	  	X	  	
				
	1.9	  	 Provide SAVIENT within 30 business days of their request with the following information to be included in the post-marketing annual
reports:
  
 •    Change
control information for all changes implemented during the preceding year relating to the Product.
  

•    Applicable Product test data submitted in accordance with the requirements of the Supply
Agreement, including any non-conforming data.
	  		  	X
				
	1.10	  	Conduct Annual Product Quality Review for the Product in accordance with cGMP’s, and Applicable Laws.	  	X	  	
				
	1.11	  	 Provide SAVIENT with the following information to be included in the Annual Product Quality Review:

 
 •    All requested data
and information required per 21 CFR 211.180(e)
	  		  	X

  
  

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	 	  	 RESPONSIBILITIES
	  	SAVIENT	  	ENZON
	2.	  	Regulatory Actions & Inspections	  		  	
				
	2.1	  	Promptly (within 24 hours of receiving notice) notify SAVIENT of any FDA or other regulatory authority (a) notice of inspection or inspection of the Facilities directly relating to the Product, or (b) inspection or investigation
relating to the Product; and promptly (within 3 days) notify SAVIENT of any regulatory authority request for Product samples or Product batch records.	  		  	X
				
	2.2	  	Promptly (within 24 hours of receiving notice) notify ENZON of any FDA or other regulatory authority inspection or investigation relating to the Product; and promptly (within 3 days) notify ENZON of any regulatory authority request
for Product samples or Product batch records.	  	X	  	
				
	2.3	  	Provide SAVIENT copies of any FDA Form 483’s, warning letters or the like from applicable regulatory authorities within 30 days of receipt and copies of all subsequent response(s) relating to the Product or Quality
Systems.	  		  	X
				
	2.4	  	Approve inspection responses to observations relevant to Product.	  	X	  	
				
	2.5	  	Other than a request(s) delivered in conjunction with an inspection, notify the other Party of any requests for information, notices of violations or other communications from a regulatory authority relating directly to the Product
produced at the Facility.	  	X	  	
				
	3.	  	Specifications & Change Control	  		  	
				
	3.1	  	Approve Product Specifications.	  	X	  	
				
	3.2	  	Assume primary responsibility for ensuring that all Specifications (including Product Specifications) and batch records that specifically relate to the manufacture and release of Product comply with relevant portions of the
Marketing Applications and Marketing Authorizations, as amended from time to time.	  	X	  	

  
  

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	3.3	  	Assume secondary responsibility for ensuring that all Specifications (including Product Specifications) and batch records that specifically relate to the manufacture and release of Product comply with relevant portions of the
Marketing Applications and Marketing Authorizations, as amended from time to time.	  		  	X
				
		  	RESPONSIBILITIES	  	SAVIENT	  	ENZON
				
	3.4	  	Submit any proposed changes to the Specifications to SAVIENT for review and approval, prior to the implementation of such changes by ENZON.	  		  	X
				
	3.5	  	Submit any proposed changes to the Specifications to ENZON for review and comment, prior to the submission of any such changes by SAVIENT to the regulatory authorities.	  	X	  	
				
	3.6	  	Discuss and reach agreement with SAVIENT regarding any proposed changes to the Facilities or the Processing that may impact the Product, prior to implementation of such proposed changes.	  		  	X
				
	3.7	  	Serve as sole communicator with regulatory authorities for the approval and any revisions of Product Specifications in the Market Applications and Marketing Authorizations.	  	X	  	
				
	4.	  	Materials	  		  	
				
	4.1	  	Maintain Bulk Product according to cGMPs and Appplicable Laws	  	X	  	
				
	4.2	  	Retain reference samples of Bulk Product, including samples for periodic re-tests, for 6 years beyond Product expiry date.	  	X	  	
				
	4.3	  	Provide Bulk Product meeting the Specifications and cGMPs for manufacture, as well as a certificate of analysis for Bulk Product.	  	X	  	
				
	4.4	  	Perform identification testing of Bulk Product.	  		  	X
				
	4.5	  	Source and qualify raw materials (excluding Bulk Product) used in Processing.	  	X	  	
				
	4.6	  	Maintain Specifications for Components and procure, store, sample, test and release raw materials.	  		  	X
				
	4.7	  	Audit suppliers that provide Components and Process Consumables used in Processing in accordance with applicable SOPs to ensure full compliance with cGMPs and Applicable Laws.	  		  	X

  
  

Commercial Supply Agreement 

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	4.8	  	Store Bulk Product and Components in accordance with the Specifications, SOPs, cGMPs and Applicable Laws while at the Facilities.	  		  	X
				
		  	RESPONSIBILITIES	  	SAVIENT	  	ENZON
				
	4.9	  	Retain reference samples of raw materials in a quantity sufficient to perform periodic re-tests, for 1 year beyond Product expiry date in accordance with Specifications, SOPs, cGMPs and Applicable Laws.	  		  	X
				
	4.10	  	Notify SAVIENT of intent to dispose of material retains.	  		  	X
				
	4.11	  	At SAVIENT’s option, ship material retains to SAVIENT (at SAVIENT’s expense) or destroy.	  		  	X
				
	4.12	  	Dispose of Product waste and any special waste related to the Processing of the Product in accordance with Applicable Laws.	  		  	X
				
	5.	  	Production, Investigations & Validations	  		  	
				
	5.1	  	Provide personnel with appropriate education, training and/or experience for manufacturing, testing and disposition of Product that is suitable for human use, and for provision of Supply hereunder.	  		  	X
				
	5.2	  	Provide premises that are maintained and able to meet design and cleanliness requirements in accordance with Applicable Laws and industry standards.	  		  	X
				
	5.3	  	Test and maintain utilities and environment to the appropriate compendia or environmental standard to assure appropriateness for use in connection with Processing and the Product.	  		  	X
				
	5.4	  	Maintain, qualify and validate the Facility, equipment, utilities (air and water) and processes associated with Processing the Product in accordance with Applicable Laws and industry standards.	  		  	X
				
	5.5	  	Manufacture and test the Product at the Facilities in accordance with the Product master Production control record, the SOPs referenced therein, and the Specifications.	  		  	X
				
	5.6	  	Perform visual inspection of finished Product in accordance with the Product master Production control record, the SOPs referenced therein, and the Specifications.	  		  	X
				
	5.7	  	Label Product in accordance with the Product master Production control record, the SOPs referenced therein, and the Specifications.	  		  	X

  
  

Commercial Supply Agreement 

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	5.8	  	Prepare and approve all artwork, inserts, labeling and packaging in connection with the Product.	  	X	  	
				
	5.9	  	Package the Product in accordance with the Product master Production control record, the SOPs referenced therein, and the Specifications.	  		  	X
				
		  	RESPONSIBILITIES	  	SAVIENT	  	ENZON
				
	5.10	  	Perform finished Product testing in accordance with the supply agreement and supply a certificate of analysis and a Certificate of Compliance to SAVIENT.	  		  	X
				
	5.11	  	Final release Product in accordance with the Product Specifications.	  	X	  	
				
	5.12	  	Investigate, resolve and document deviations from the Master Production Control Record and OOS test results in accordance with the cGMPs. Investigations should be completed with 30 calendar days. Interim status reports must be
provided to Savient periodically in writing for investigations remaining open beyond 30 business days.	  		  	X
				
	5.13	  	Obtain Quality Assurance approval of all investigations and corrective and preventive action plans.	  		  	X
				
	5.14	  	Provide equipment maintained and able to meet design and cleanliness requirements in accordance with Applicable Laws and industry standards, as applicable.	  		  	X
				
	5.15	  	Establish a validation master plan and maintain the validation program in accordance with plan requirements.	  		  	X
				
	5.16	  	Prepare and execute all Product related validation protocols, and complete validation reports.	  		  	X
				
	5.17	  	Review and approve validation protocols related to Product.	  	X	  	
				
	5.18	  	Provide Quality Assurance review and approval of all validation packages.	  		  	X
				
	6.	  	Audits	  		  	
				
	6.1	  	SAVIENT will schedule and audit ENZON Facilities, records and documentation related to the Product manufactured by ENZON at a time mutually agreed by Enzon with a minimum advanced notice of 3 months and at a frequency of not more
than once every 12 months. SAVIENT may request for-cause audits as needed.	  	X	  	
				
	6.2	  	Conduct internal audits of Facilities, processes and quality systems, in accordance with cGMPs and applicable SOPs.	  		  	X

  
  

Commercial Supply Agreement 

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	6.3	  	SAVIENT shall provide ENZON with a written audit report containing audit observations within 30 business days of the audit.	  	    X    	  	
				
	6.4	  	ENZON will respond to Savient audit report in writing within 15 business days.	  		  	X
				
	6.5	  	SAVIENT is entitled to inspect and audit suppliers, vendors and contractors used by ENZON in connection with the Product.	  	X	  	
				
	7.	  	Lot Codes & Expiration Dating	  		  	
				
	7.1	  	Establish Product lot code.	  		  	X
				
	7.2	  	Establish Product expiry dating as per approved Product License/Marketing Authorization.	  	X	  	
				
	8.	  	Samples	  		  	
				
	8.1	  	Perform Product sampling in accordance with the Supply Agreement, cGMP’s, and as otherwise agreed to by the Parties in the master Production control record for the Product.	  		  	X
				
	8.2	  	Retain Finished Product samples including Stability samples in accordance with cGMP’s and the Supply Agreement.	  		  	X
				
	9.	  	Testing & Analysis	  		  	
				
	9.1	  	Perform all applicable Product testing according to the Supply Agreement.	  	X	  	X
				
	9.2	  	Track and investigate all deviations (including DOS’s) associated with the Product, and notify SAVIENT Quality and Manufacturing within 24 hours of discovery of any significant deviations (those that may affect the identity,
strength, quality, or purity of the Product).	  		  	X
				
	9.3	  	Notify ENZON of any Product recall that might be attributed to Processing the Product.	  	X	  	
				
	9.4	  	Notify SAVIENT Quality and Manufacturing via email within the business day followed by signed documents of any confirmed failure of the Product that might be attributed to Processing the Product.	  		  	X
				
	10.	  	Release	  		  	
				
	10.1	  	Provide initial QA dispostion of Product to SAVIENT.	  		  	X
				
	10.2	  	Provide final QA dispostion of Product.	  	X	  	
				
	11.	  	Records	  		  	

  
  

Commercial Supply Agreement 

Execution Copy 
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	11.1	  	Review and approve the executed batch records.	  	X	  	X
				
		  	RESPONSIBILITIES	  	SAVIENT	  	ENZON
				
	11.2	  	 Provide the released, executed batch record documentation for each batch of Product, which shall include the following:

 
 •    A statement that
the lot was manufactured, packaged and tested in accordance with cGMPs, identifies the master batch Record documents, and lists any incident reports and investigations associated with the batch.

 
 •    A certificate of
analysis covering all regulatory authority and compendial tests, and a Certificate of Compliance.
  

•    The signature of the QA Representative who released the batch.

 
 •    Copies of
significant deviations (those that may materially affect the identify, strength, quality or purity of the Product).
  

•    A list of other deviations that may affect the Product.

 
 •    A list of change
control records that could impact the Product.
  

•    Copies of summary Quality Assurance reviewed release test records.
	  		  	X
				
	11.3	  	Store the master record, batch records, manufacturing documentation and all other documentation related to the Product for the minimum period required by all Applicable Laws.	  		  	X
				
	11.4	  	Provide copies of all documentation necessary for SAVIENT to respond to inquiries by regulatory authorities.	  		  	X
				
	12.	  	Storage	  		  	
				
	12.1	  	Store and ship the Bulk Product in accordance with the Bulk Product Specifications, SOPs, cGMPs and Applicable Laws until manufacture of the Product.	  	X	  	
				
	12.2	  	Receive and store the Bulk Product. Intermediates, and finished Product in accordance with the Specifications, SOPs, cGMPs and Applicable Laws pending release of the Product.	  		  	X
				
	12.3	  	Provide written instructions for shipping prior to Product release and shipment.	  	X	  	
				
	13.	  	Safety	  		  	
				
	13.1	  	Maintain safety/hazard and handling data on the Product and Bulk Product.	  	X	  	X

  
  

Commercial Supply Agreement 

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		  	RESPONSIBILITIES	  	SAVIENT	  	ENZON
				
	13.2	  	Maintain safety/hazard and handling data on the raw materials.	  	X	  	X
				
	14.	  	Complaints	  		  	
				
	14.1	  	Upon request of SAVIENT, assist SAVIENT in investigating and resolving all medical, adverse events, and non-medical Product complaints.	  		  	X
				
	14.2	  	Collect and log all information relating to Product complaints and adverse drug events.	  	X	  	X
				
	14.3	  	Investigate all Product complaints and adverse drug events.	  	X	  	X
				
	14.4	  	Issue all reports and conduct follow up corrective action relating to Product complaints and adverse drug events.	  	X	  	X
				
	15.	  	Recall, Field Alerts and Product Withdrawal	  		  	
				
	15.1	  	Inform the Quality Assurance contact from the other Party within 24 hours upon knowledge of all quality issues which might compromise the other Party’s quality requirements for Products already shipped, or about to be
shipped.	  	X	  	X
				
	15.2	  	Issue any decision to initiate Product recall or Product withdrawal.	  	X	  	
				
	15.3	  	Communicate decision to initiate Product recall to ENZON.	  	X	  	
				
	15.4	  	Notify appropriate regulatory authorities of any Product recall or Product withdrawal.	  	X	  	
				
	15.5	  	Manage any Product recall or Product withdrawal.	  	X	  	
				
	15.6	  	Reconcile returned Product following Product recall or Product withdrawal.	  	X	  	X
				
	15.7	  	Issue and follow up on FDA Field Alerts (or other similar processes of other regulatory authorities).	  	X	  	
				
	15.8	  	Perform mock recall and recall effectiveness checks.	  	X	  	
				
	16	  	Quality Agreement Review	  		  	
				
	16.1	  	On an as-needed basis (or once every two years), conduct a review to ensure that the Quality Agreement is in alignment with the current scope of the Project Plan and the then- current Supply Agreement. Update by mutual agreement of
the Parties (if necessary).	  	X	  	X
				
	17	  	Key Contacts	  		  	

  
  

Commercial Supply Agreement 

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	17.1	  	Either party may change the following contact information by issuing a memo to the other party. Each party shall attach the memo to this original signed agreement. The updated information shall be incorporated into the next
controlled revision of this agreement.	  	        X        	  	        X        

 Savient Pharmaceuticals Inc. 

For All Product Concerns: 

Savient Pharmaceutical’s Inc. 

One Tower Center 

14th Floor 

East Brunswick, New Jersey 08816 

USA 

Enzon Pharmaceuticals, Inc. 

For Manufacturing, Quality Assurance and Quality Control: 

Enzon Pharmaceuticals, Inc. 

6925 Guion Road 

Indianapolis, Indiana 46268 

USA 
  

			
	 For Regulatory Affairs:
	  	For Operations, Planning & Logistics:
		
	 Enzon Pharmaceuticals, Inc.
	  	Enzon Pharmaceuticals, Inc.
	 685 Route 202/206
	  	685 Route 202/206
	 Bridgewater, New Jersey 08854
	  	Bridgewater, New Jersey 08807
	 USA
	  	USA

  

									
	 Enzon Contact
	  	Name/Title	  	Phone	  	Fax	  	E-mail
	 Quality Assurance
	  	Chris Dreyer,
Vice President
Quality
Operations	  	317-347-2857	  	317-347-2883	  	Chris.dreyer@enzon.com
	 QA – Product Release
	  	Brendan
O’Shaughnessy,
Associate
Director, QA	  	317-347-2849	  	317-290-0075	  	Brendan.OShaughnessy@enzon.com
	 Quality Control Lab
	  	Hector Rosa,
Director,
Quality	  	317-612-2932	  	317-290-0075	  	Hector.Rosa@enzon.com

  
  

Commercial Supply Agreement 

Execution Copy 
 Page 43 of 44 

															
	 Operations
	  	Control	  				  				  			
	 Regulatory

Affairs
	  	Thomas Eckhardt, Vice President, Regulatory Affairs	  	 	908-541-8734	  	  	 	732-980-4638	  	  	 	Thomas.Eckhardt@enzon.com	  
	 Operations –

Planning
	  	Derek Kalinowski, Director, Planning & Logistics	  	 	908-541-8633	  	  	 	908-541-8691	  	  	 	Derek.Kalinowski@enzon.com	  

  

									
	 Savient Contact
	  	 Name/Title
	  	Phone	  	Fax	  	E-mail
	 Quality Assurance
	  	Robert Lamm, Ph.D Senior Vice President, QA	  	732-565-4667	  	732-418-1862	  	rlarnm@savientpharma.com
	 Quality Assurance
	  	Eric Nickerson Senior Director, QA	  	732-565-4759	  	732-418-1862	  	enickerson@savientpharma.com
	 QA — Product

Release
	  	Shelley Mahon Manager, QA	  	732-565-4657	  	732-418-1862	  	smahon@savientpharma.com
	 Regulatory Affairs
	  	Murad Husain Vice President Regulatory Affairs	  	732-565-4676	  	732-418-1862	  	mhusain@savientpharma.com
	 Manufacturing
	  	Peter Clarke, Ph.D Vice President, Technical Operations	  	732-565-4703	  	732-418-1862	  	pclarke@savientpharma.com
	 Planning and

Logistics
	  	Gary Savvas Manager, Manufacturing and Logistics	  	732-565-4661	  	732-418-1862	  	qsavvas@savientpharma.com

  
  

Commercial Supply Agreement 

Execution Copy 
 Page 44 of 44EX-10.22

 Exhibit 10.22 

Execution Copy 

RETIREMENT AGREEMENT AND RELEASE OF ALL CLAIMS 

This Retirement Agreement and Release of All Claims (the “Agreement”) is entered into by and between JOHN J.
KERIN (referred to hereinafter as “you” or the “Executive”) and MARCUS & MILLICHAP, INC., a Delaware corporation (the “Company”). The Executive and the
Company hereinafter collectively referred to as the “Parties.” 
 RECITALS 

WHEREAS, the Executive previously served as the Company’s Chief Executive Officer; 

WHEREAS, the Executive retired effective March 31, 2016 (the “Retirement Date”); 

WHEREAS, the Parties agreed that the Executive will provide consulting services (the “Consulting Services”),
which commenced on April 1, 2016 and that are anticipated to end on March 31, 2017 (the period from April 1, 2016 until the actual date that the Executive ceases to provide Consulting Services, the “Consulting Period”), as
described more fully herein; 
 WHEREAS, the Company previously granted the Executive 416,124 Deferred Stock Units (the
“DSU Award”), as set forth in the Deferred Stock Unit Award Agreement dated November 5, 2013 (the “DSU Award Agreement”); 

WHEREAS, on November 4, 2013, the Company and the Executive entered into three separate Amendment, Restatement and Freezing of Stock
Appreciation Rights Agreements (the “SAR Agreements”) that provide for deferred compensation payable to the Executive in the aggregate amount of $8,561,296.08, as of the date of such SAR Agreements as subsequently adjusted
for earnings through December 31, 2015, (the amount subject to the SAR Agreements, the “SAR Account Balance”), a portion of which is subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended
(the “Code”), and the regulations and guidance promulgated thereunder (“Section 409A”) and a portion of which is exempt from the requirements of Section 409A; 

WHEREAS, on November 4, 2013, the Company and the Executive entered into a Sale Restriction Agreement (the “Sale Restriction
Agreement”) whereby Executive agreed to restrictions on his ability to sell the 1,225,249 shares of common stock of the Company that he held as of such date (the “Restricted Shares”), which such sale restriction
lapses over time as set forth in the Sale Restriction Agreement; 
 WHEREAS, the Executive is a participant in the Company’s
Deferred Compensation Plan as restated effective January 1, 2014 (the “Deferred Compensation Plan”); and 

WHEREAS, the Parties desire to formalize the terms and conditions related to Executive’s retirement and his provision of
Consulting Services following his retirement, in each case, pursuant to this Agreement. 
  

 NOW, THEREFORE, in consideration of the mutual promises and conditions set forth herein,
and for other good and sufficient consideration, the sufficiency of which is hereby acknowledged, the Company and the Executive agree as follows: 

AGREEMENT 
 1.
Executive’s Retirement. 
 (a)    The Executive resigns his current position and active employment
with the Company effective as of the Retirement Date and thereafter will become a paid consultant of the Company effective April 1, 2016. The Executive understands that effective as of the Retirement Date, the Executive will cease to be the
Chief Executive Officer of the Company. 
 (b)    Effective as of the Retirement Date, the Executive will cease to be an
employee of, or have any connection with, or claims against the Company (except for payments or benefits due hereunder). The Executive’s right to participate in the employee benefits offered by the Company shall cease on the Retirement
Date, except as set forth herein or as required by applicable law. 
 (c)    Additionally, effective as of the
Retirement Date, the Executive resigns as a member of the Board of Directors of the Company. 
 2. Accrued Benefits. As
of the Retirement Date, Executive was paid all of the Executive’s salary, all accrued, but unused, vacation and all other wages earned through the Retirement Date, less all applicable withholdings and required deductions. The Executive
agrees that as of the Retirement Date, the Executive has been paid all compensation due the Executive as of the Retirement Date by virtue of the Executive’s employment, in keeping with the Company’s policy and practice, except any payments
or rights pursuant to this Agreement that will be paid following the Retirement Date. 
 3. Restrictive
Covenants. Section 5 or 7 of the SAR Agreements, as applicable, and Section 7 of the Sale Restriction Agreement contain certain restrictive covenants applicable to the Executive (the “Restrictive Covenants”),
which shall remain in full force and effect. For purposes of applying the Restrictive Covenants, the three (3) year period described in the Restrictive Covenants shall commence after the end of the Consulting Services. 

4. Retirement Benefits; Consideration. If the Executive timely signs and does not revoke this Agreement, continues to
comply with the Restrictive Covenants and complies with this Agreement, he will be eligible for the benefits set forth below in consideration of his Consulting Services, cooperation with the Company and release of claims in favor of the Company, as
describe in Section 5 below (the “Release”): 
 (a)    Retirement
Benefits. The Executive will be entitled to the following retirement benefits: 
 (i) If the Executive is
eligible for, and timely elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as 

  
 2 

 
amended (“COBRA”), the Company will reimburse the Executive for, or pay on his behalf, the full amount of the COBRA premiums for such coverage for the Executive and the
Executive’s covered dependents for twelve (12) months following the Retirement Date; provided, however, notwithstanding any other provision of this Agreement, Executive shall be entitled to exercise his statutorily mandated rights to elect and
receive COBRA coverage, as required by applicable law. 
 (ii) The Company will provide the Executive with the continued use
of the Company’s leased automobile currently in his possession until the earlier of (x) twelve (12) months following the Retirement Date or (y) the termination of the Consulting Agreement (as defined below) and will continue to cover the
insurance, maintenance and fuel costs associated with the leased automobile, on the same basis as was applicable for Executive prior to the Retirement Date; and 

(iii) If needed, as mutually agreed between the Company and the Executive, until the earlier of (x) twelve (12) months
following the Retirement Date or (y) the termination of the Consulting Agreement, the Company will either bear the cost of leased office space for Executive or, if Executive elects to use his home office in lieu of leased office space, pay Executive
an additional $1,000 per month and either supply or bear the cost of secretarial assistance, at Executive’s choosing. 

(b)    Post-Retirement Consulting. 

(i) Consulting Services (“Consulting Agreement”). The Executive agrees that
during the Consulting Period, the Executive shall provide Consulting Services as reasonably requested by the Company, through, and only through, its Chief Executive Officer (CEO) or any other person designated by the CEO, (a) the Company shall
provide the Executive with reasonable advance notice when requesting such services or assistance, (b) the Company shall exercise reasonable efforts to schedule any services or assistance requested and the Executive shall exercise reasonable efforts
to fulfill the Company’s consulting requests in a timely manner, notwithstanding his personal and other business commitments. The Consulting Agreement may be terminated, extended or modified by mutual agreement of the Parties. The
Consulting Agreement may be terminated by the Company at any time with thirty (30) days’ notice to the Executive if the Executive either breaches any provision of this Agreement, including, without limitation the Restrictive Covenants, or
refuses or is unable to fulfill his consulting obligations hereunder, including, without limitation, by reason of death, disability, or resignation. Subject to the preceding sentences, the Consulting Services shall in no way prohibit the
Executive’s right and ability to find and commence alternative full-time employment or to provide consulting services to another organization; it being understood that the Executive’s acceptance of such alternative full-time employment or
consulting services shall not constitute a refusal or inability to fulfill the Consulting Services. If the Consulting Agreement terminates for any reason, the Consulting Period shall similarly end on the date of the termination of the
Consulting Agreement for all purposes hereunder. 

  
 3 

 (ii) Consulting Services Compensation. During the Consulting Period,
the Executive shall be paid an annual consulting fee of $680,000, which will be paid bi-monthly in arrears at the rate of $28,333 on the 15th and the last day of each month during the Consulting
Period; provided that the first payment hereunder shall be made on the first scheduled payment date after the Effective Date of this Agreement and shall include all amounts that would have been paid had payment commence on the first schedule payment
date after the Retirement Date. 
 (iii) Time Commitment. The Executive shall not be required to provide more
than one hundred and twenty (120) hours of Consulting Services to the Company per month during the Consulting Period. At any point during the Consulting Period that the Parties agree that the Executive will provide less than thirty-four hours
of Consulting Services per month during the remainder of the Consulting Period, the Executive will be deemed to have incurred a “separation from service” within the meaning of Section 409A as of the beginning of the first month in which
the Executive provides less than thirty-four hours of Consulting Services (the “Section 409A Separation Date”). The Section 409A Separation Date shall be the separation from service or termination of employment date
under the SAR Agreements, the DSU Award Agreement and the Deferred Compensation Plan with respect to any “nonqualified deferred compensation,” within the meaning of Section 409A, payable to the Executive thereunder. 

(iv) Reimbursement of Consulting Expenses. Pursuant to and in accordance with the Company expense policies then in
effect, the Company shall promptly reimburse the Executive, upon receipt of reasonable documentation, for all out-of-pocket expenses necessarily incurred by the Executive, including reasonable expenses for travel and accommodations (but, in each
case, only to the extent that the Executive has been requested or authorized, in accordance with the terms hereof, to incur such expenses in relation to his consulting responsibilities) for the purpose of providing any Consulting Services required
under this Section 4(b). 
 (v) Status as a Consultant. The Executive will not be treated as an employee of the
Company for any purpose with respect to such Consulting Services, including for purposes of any of the Company’s benefit plans. 

(vi) Non-Competition. During the Consulting Period, the Executive shall not directly or indirectly, either as an
employee, employer, consultant, agent, principal, owner, partner, stockholder, corporate officer, director, or in any other individual or representative capacity, engage or participate in any business that is in competition in any manner whatsoever
with the business of the Company or the Company’s subsidiaries (the “Non-Compete Covenant”). 

(vii) Confidentiality; Invention Assignment. Coincident with the execution of this Agreement, the Executive shall
execute a new Confidentiality and Non-Disclosure Agreement (the “Consulting Confidentiality Agreement”) to cover the Consulting Period. 

  
 4 

 (viii) SEC Matters. The Company shall make all filings on behalf of
the Executive with respect to his equity holdings in the Company, including, without limitation, any filings on Forms 3, 4, 5 or pursuant to Section 16. The Company acknowledges that the Executive shall not be subject to the Company’s
stock ownership or stock sale guidelines; provided, however, the Executive acknowledge that he will remain subject to any blackout or window trading periods following the Retirement Date if it is determined, in the discretion of the Company, that
the Executive is receiving non-public information regarding the Company’s financial results or other material non-public information. 

(c)    SAR Agreements.

(i) Grandfathered Amounts. As of the date hereof, $7,858,893.08 of the SAR Account Balance, as adjusted for
earnings, is exempt from the requirements of Section 409A (the “Grandfathered SAR Amount”). Pursuant to the SAR Award Agreements, the Grandfathered SAR Amount will be distributed to the Executive in ten (10) annual
installments. On January 10, 2017 (the “Grandfathered SAR Initial Payment Date”), the Company shall make the first payment to the Executive in an amount equal to ten percent (10%) of the Grandfathered SAR Amount, as
determined on January 10, 2017. Within thirty (30) days of each of the nine (9) anniversaries of the Grandfathered SAR Initial Payment Date, an additional payment will be made to the Executive equal to (x) the value of the Grandfather SAR
Amount, as adjusted for earnings, on the payment date divided by (y) the number of remaining installment payments (i.e., within thirty (30) days of January 10, 2018, 1/9th of the
then-current Grandfathered SAR Amount will be distributed to the Executive). The undistributed Grandfathered SAR Amount will continue to be credited with earnings pursuant to the SAR Award Agreements. 

(ii) Non-Grandfathered Amounts. As of the date hereof, $702,403.00 of the SAR Account Balance, as adjusted for
earnings, is subject to the requirements of Section 409A (the “Non-Grandfathered SAR Amount”). Pursuant to the SAR Award Agreements, the Non-Grandfathered SAR Amount will be distributed to the Executive in ten (10)
annual installments. On a date determined by the Company within thirty (30) days of the end of the calendar year including the Executive’s Section 409A Separation Date (the “Non-Grandfathered SAR Initial Payment
Date”), the Company shall calculate the amount of the first payment to the Executive, an amount equal to ten percent (10%) of the Non-Grandfathered SAR Amount as of the Non-Grandfathered SAR Initial Payment Date; provided that such
payment shall not be made until the date that is six (6) months and one (1) day after the Section 409A Separation Date (for example, if the Section 409A Separation Date is December 1, 2016, the first payment will be made on June 2,
2017). Within thirty (30) days of each of the nine (9) anniversaries of the Non-Grandfathered SAR Initial Payment Date, an additional payment will be made to the Executive equal to (x) the value of the Non-Grandfather SAR Amount, as adjusted
for earnings, on the payment date divided by (y) the number of remaining installment payments (for example, if the Section 409A Separation Date occurs during calendar year 2016, the second payment will be made within thirty (30) days of
January 1, 2018, in an amount equal to 1/9th of the then-current Non-Grandfathered SAR Amount will be distributed to the Executive). The undistributed Non-Grandfathered SAR Amount will
continue to be credited with earnings pursuant to the SAR Award Agreements. 

  
 5 

 (d)    Sale Restriction Agreement. Pursuant to the terms
of the Sale Restriction Agreement, twenty percent (20%) of the Restricted Shares are released from the Sale Restriction (as defined in the Sale Restriction Agreement) on each anniversary of November 4, 2013, subject to the Executive’s continued
service to the Company. The following shall apply to the release of the Sale Restriction with respect to the Restricted Shares: 

(i) Forty percent (40%) of the Restricted Shares have been released from the Sale Restriction as of the date hereof. 

(ii) An additional twenty percent (20%) of the Restricted Shares will be released from the Sale Restriction on each remaining
anniversary of November 4, 2013 (i.e., November 4, 2016, November 4, 2017 and November 4, 2018). 
 (iii) If you violate the
Non-Compete Covenant prior to the last release date on November 4, 2018, then the portion of your Restricted Shares that have not been released as of the date of such violation will be delayed and not released from the Sale Restriction until the
fifth anniversary of the date you cease to provide services to the Company. 
 (e)    DSU
Award. Pursuant to the terms of the DSU Award Agreement, twenty percent (20%) of the Deferred Stock Units subject to the DSU Award are settled on each anniversary of November 5, 2013, subject to the Executive’s continued service to
the Company. The following shall apply to the settlement of the Deferred Stock Units subject to the DSU Award: 
 (i)
Forty percent (40%) of the Deferred Stock Units subject to the DSU Award have been settled as of the date hereof. 
 (ii)
Until the Section 409A Separation Date, an additional twenty percent (20%) of the Deferred Stock Units subject to the DSU Award will be settled on each remaining scheduled settlement date under the DSU Award Agreement (i.e., November 5, 2016,
November 5, 2017 and November 5, 2018). 
 (iii) On the fifth (5th)
anniversary of Section 409A Separation Date, all Deferred Stock Units not previously settled in accordance with the DSU Agreement and this Agreement will be settled. 

(f)    Deferred Compensation Plan. The Executive’s account balance under the Deferred Compensation
Plan (the “DCP Account Balance”) will be distributed in accordance with the elections previously made by the Executive under the Deferred Compensation Plan; provided, however, that for determining the timing of distributions
with respect to any portion of the DCP Account Balance that is subject to Section 409A, the following shall apply: 
 (i) the
date of termination of employment shall mean the Section 409A Separation Date; and 

  
 6 

 (ii) any distributions scheduled to be made during the first six (6) months
following the Section 409A Separation Date shall be delayed and paid on the date that is six (6) months and one (1) day after the Section 409A Separation Date. 
  

	 	5.	General Releases and Waivers of Claims.

 (a)    General
Release. Except as otherwise provided in Section 5(c), in return for the consideration set forth in Section 4 above, the Executive, on behalf of himself, as well as the Executive’s heirs, beneficiaries, successors, representatives,
trustees, administrators and assigns, freely and voluntarily hereby waives and releases the Company, and each of its past, present and future officers, directors, shareholders, the employees, consultants, accountants, attorneys, agents, managers,
insurers, sureties, parent and sister corporations, divisions, subsidiary corporations and entities, partners, joint venturers and affiliates (and each of their respective beneficiaries, successors, representatives and assigns) and all persons
acting in concert with them (collectively, “Affiliates”) from any and all claims, demands, damages, debts, liabilities, controversies, obligations, actions or causes of action of any nature whatsoever, including without
limitation, any claims as an officer, director or owner of equity in the Company, whether based on tort, statute, contract, indemnity, rescission or any other theory of recovery, and whether for compensatory, punitive, equitable or other relief,
whether known, unknown, suspected or unsuspected, against the Company and/or its Affiliates, including without limitation claims which may have arisen or may in the future arise in connection with any event that occurred on or before the date of the
Executive’s execution of this Release. 
 These claims include but are not limited to claims arising under federal, state and local
statutory or common law, including, but not limited to the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq. (“ADEA”); Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991,
42 U.S.C. § 2000 et seq.; Equal Pay Act, 29 U.S.C. § 206(d); the Civil Rights Act of 1866, 42 U.S.C. § 1981; the Family and Medical Leave Act of 1993, 29 U.S.C. § 2601 et seq.; the Americans with Disabilities Act of
1990, 42 U.S.C. § 12101 et seq.; the False Claims Act, 31 U.S.C. § 3729 et seq.; the Employee Retirement Income Security Act, 29 U.S.C. § 1001 et seq.; the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2101
et seq.; the California Fair Employment and Housing Act, Cal. Lab. Code § 12940 et seq.; the California Equal Pay Law, Cal. Lab. Code §§ 1197.5(a),1199.5; the Moore-Brown-Roberti Family Rights Act of 1991, Cal. Gov’t Code
§§12945.2, 19702.3; the California WARN Act, Cal. Lab. Code § 1400 et seq,; the California Labor Code; the California Constitution; (all as amended) claims arising out of any legal restrictions on the Company’s right to terminate
its employees; or claims arising under state and federal whistleblower statutes to the maximum extent permitted by law. Nothing herein shall be construed to impede the Executive from communicating directly with, cooperating with or providing
information to any government regulator. 
 (b)    Unknown Claims. The Executive expressly waives any
right or claim of right to assert hereafter that any claim, demand, obligation and/or cause of action has, through ignorance, oversight or error, been omitted from the terms of this Release. The Executive makes

  
 7 

 
this waiver with full knowledge of his rights and with specific intent to release both his known and unknown claims, and therefore specifically waives his rights under Section 1542 of the Civil
Code of California or other similar provisions of any other applicable law (collectively, “Section 1542”), which reads as follows: 

“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of
executing the release, which if known by him or her must have materially affected his settlement with the debtor.” 
 The Executive
understands and acknowledges the significance and consequence of this Release and of such specific waiver of Section 1542, and expressly agrees that this Agreement shall be given full force and effect according to each and all of its express terms
and provisions, including those relating to unknown and unsuspected claims, demands, obligations and causes of action herein above specified. 

(c)    Claims Not Released.

(i) This Release does not waive rights or claims under federal or state law that the Executive cannot waive by private
agreement, including, but not limited to those he may have under Sections 2800 and 2802 of the California Labor Code, the Executive’s right to file a claim for unemployment benefits, worker’s compensation benefits, claims under the Fair
Labor Standards Act, health insurance benefits under COBRA, or claims with regards to vested benefits under a retirement plan governed by ERISA. Further, Executive does not waive rights or claims with respect to his right to indemnification
under California Labor Code § 2802 California Corporations Code §317, the Company’s bylaws, any indemnification agreement between the Company and Executive, or any other federal or state statute, law, regulation or provision that
confers upon Executive a right to defense or indemnification arising out of the services he performed for the Company. 

(ii) Nothing in this Agreement, including but not limited to this Section 5, shall be interpreted to mean or imply that
Executive is waiving, or has waived, is releasing or has released, any claim (1) arising from any right or benefit arising under this Agreement, including but not limited to rights or benefits to be paid, vested or accrued after March 31, 2016 under
the DSU Award Agreement, the SAR Agreements, the Sale Restriction Agreement, the Deferred Compensation Plan and/or Consulting Agreement; (2) otherwise arising as a result of a breach by the Company and/or any of its Affiliates, of this
Agreement; (3) arising under federal or state law that Executive cannot waive by private agreement, including but not limited to, Sections 2800 and 2802 of the California Labor Code, the Executive’s right to file a claim for unemployment
benefits, worker’s compensation benefits; (4) the Fair Labor Standards Act, health insurance benefits under COBRA, and/or the Employee Retirement Income Security Act of 1974, as amended. 

  
 8 

 (d)    Review and Revocation. In accordance with the Older
Workers Benefit Protection Act, the Executive acknowledges and agrees this Agreement includes a waiver and release of all claims that the Executive have or may have under the ADEA. With respect to the release of claims under the ADEA, the
Executive acknowledges that: 
 (i) This Agreement is written in a manner calculated to be understood by the Executive and
the Executive understands it. 
 (ii) The waiver and release of claims under the ADEA contained in this Agreement does not
cover rights or claims that may arise after the date on which the Executive signs this Agreement. 
 (iii) This Agreement
provides for consideration in addition to anything of value to which the Executive is already entitled. 
 (iv) The Executive
is hereby advised to consult an attorney before signing this Agreement. 
 (v) The Executive has been granted twenty-one (21)
days after receiving this Agreement to decide whether or not to sign this Agreement. If the Executive signs this Agreement prior to the expiration of the twenty-one (21) day period, the Executive does so voluntarily and after having had the
opportunity to consult with an attorney, and the Executive hereby waives the remainder of the twenty-one (21) day period. 

(vi) The Executive has the right to revoke this Agreement within seven (7) days of signing this Agreement, and this Agreement
shall not be enforceable or effective until the eighth (8th) day after he signs this Agreement (the “Effective Date”). 

(vii) In the event this Agreement is revoked, this Agreement will be null and void in its entirety, and the Executive will not
be entitled to the benefits provided in Section 4 of this Agreement. If the Executive wishes to revoke this Agreement, the Executive must deliver written notice stating his intent to revoke this Agreement to Bob Kennis, the Company’s
General Counsel, on or before 5:00 p.m. on the seventh (7th) day after the date on which the Executive signed this Agreement. 
 6. No
Admission. Nothing contained in this Agreement shall constitute or be treated as an admission by the Executive or the Company of any liability, wrongdoing, or violation of law. 

7. No Future Actions. To the extent permitted by law, the Executive agrees that the Executive shall not encourage,
cooperate in, or initiate any suit or action of any kind, or voluntarily participate in same, individually or as a representative, witness or member of a class, under contract, law or regulation, federal, state or local, pertaining to any matter
related to his employment with the Company. The Executive represents that he has not, to date, initiated (or caused to be initiated) any such suit or action. 

  
 9 

 The Executive agrees that if he, or anyone purporting to act on his behalf or under any
assignment of claims from the Executive, hereafter commences any suit arising out of, based upon, or relating to any of the claims released by the Agreement or in any manner asserts against the Company and/or its Affiliates, any of the claims
released hereunder, then, to the maximum extent permitted by law, the Executive will pay to the Company and/or its Affiliates, as applicable, in addition to any other damages caused to them thereby, all attorneys’ fees incurred by the Company
and/or its Affiliates, as applicable, in defending or otherwise responding to said suit or claim. 
 The foregoing shall not apply if the
Executive is required to participate by legal process or other requirement of applicable law, provided that the Executive gives the Company notice if legal process is served on the Executive; or to any challenge by the Executive to the validity of
any release herein of ADEA claims or to any to suit or action brought by the Executive to assert such a challenge. 
 Additionally, nothing
in this Release precludes the Executive from participating in any investigation or proceeding before any federal or state agency, or governmental body, including, but not limited to, the Equal Employment Opportunity Commission, the Securities and
Exchange Commission, and/or the Department of Justice. However, while the Executive may file a charge, provide information, or participate in any investigation or proceeding, by signing this Release, the Executive, to the maximum extent
permitted by law, waives any right to bring a lawsuit against the Company, and waives any right to any individual monetary recovery in any such proceeding or lawsuit or in any proceeding brought based on any communication by the Executive to any
federal, state or local government agency or department. 
 8. Cooperation with the Company. In addition, the Executive
shall, without further compensation, cooperate with and assist the Company in the investigation of, preparation for or defense of any actual or threatened third party claim, investigation or proceeding involving the Company or its predecessors or
affiliates and arising from or relating to, in whole or in part, the Executive’s employment with the Company or its predecessors or affiliates for which the Company requests the Executive’s assistance, which cooperation and assistance
shall include, but not be limited to, providing truthful testimony and assisting in information and document gathering efforts. In connection herewith, it is agreed that the Company will use its reasonable best efforts to assure that any
request for such cooperation will not unduly interfere with the Executive’s other material business and personal obligations and commitments. 

9. Confidential Information. To the maximum extent permitted by law, the Executive shall not, without the Company’s
written consent by an authorized representative, at any time prior or subsequent to the execution of this Release, disclose, use, remove or copy any Confidential Information, trade secret or proprietary information he acquired during the course of
his employment by the Company. “Confidential Information,” for purposes of this Agreement, includes any information not previously published or generally in the public domain. Confidential Information, trade secrets
and proprietary information includes without limitation, any technical, actuarial, economic, financial, procurement, provider, enrollee, customer, underwriting, contractual, managerial, marketing or other information of any type regarding the
business in which the Company is engaged, but not including any previously published information or other information generally in the public domain. The Executive also agrees that 

  
 10 

 
he shall not without the Company’s written consent by an authorized representative, directly or indirectly use the Company’s trade secret information, including but not limited to
customer lists, to solicit business of any customers of the Company (other than on behalf of the Company). The Executive acknowledges and agrees that any “Invention,” including without limitation, any developments or
discoveries by the Executive during the course of his employment with the Company through the date of execution of this Release resulting in patents, lists of customers, trade secrets, specialized know-how or other intellectual property useful in
the then-current business of the Company and any original works of authority are the property of the Company and shall be used for the sole benefit of the Company. If not previously assigned to the Company, the Executive hereby assigns
ownership of any and all Inventions to the Company, provided, however, that the provisions of this Agreement requiring assignment of Inventions to the Company do not apply to any invention which qualifies fully under the provisions of California
Labor Code section 2870, which provides as follows. 
  

	 	“(a)	Any provision in an employment agreement which provides that an the Executive shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the
Executive developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: (1) Relate at the time of conception or reduction to
practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or (2) Result from any work performed by the Executive for the employer. 

 

	 	(b)	To the extent a provision in an employment agreement purports to require an the Executive to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against
the public policy of this state and is unenforceable.” 

 This provision shall supplement, but not limit or supersede any
other agreement between the Executive and the Company concerning any Confidential Information or other intellectual property. 
 10.
Return of Property. The Executive agrees that, as of the Retirement Date, the Executive has returned to the Company any and all Company property in your possession or control, including, without limitation, equipment, documents
(in paper and electronic form), credit cards, and phone cards and/or you have returned or destroyed all Company property that you stored in electronic form or media (including, but not limited to, any Company property stored in your personal
computer, USB drives or in a cloud environment). This Section 10 shall not apply to any items that the Company determines are necessary for you to provide the Consulting Services; provided that any such items shall instead be returned as of the
end of the Consulting Period). 
 11. Opportunity to Consult with Counsel. The Executive acknowledges that he has had an
opportunity to consult with and be represented by counsel of the Executive’s choosing in the review of this Agreement, that you have been advised by the Company to do so, that the 

  
 11 

 
Executive is fully aware of the contents of the Agreement and of its legal effect, that the preceding paragraphs recite the sole consideration for this Agreement, and that the Executive enters
into this Agreement freely, without duress or coercion, and based on the Executive’s own judgment and wishes and not in reliance upon any representation or promise made by the Company, other than those contained herein. 

12. Non-Disparagement. The Executive agrees not to disparage the Company or to do anything in a manner likely to portray
the Company, its products or personnel in a negative light or that might injure the Company’s business or affairs. This would include, but is not limited to, disparaging remarks about the Company as well as its shareholders, officers,
directors, employees, agents, advisors, partners, affiliates, consultants, products, services, formulae, business practices, corporate structure or organization, and marketing methods. The Company, limited to its current executive officers and
directors, for so long as such executive officer is an employee of the Company or director remains as a director of the Company, agrees to instruct such officers and directors to not make any oral or written public statements disparaging
Executive. The parties agree that the provisions of this Paragraph 12 are material terms of this Agreement. Nothing herein shall in any way prohibit the Company from disclosing such information as may be required by law, or by judicial or
administrative process or order or the rules of any securities exchange or similar self-regulatory organization applicable to Executive. 

13. No Reemployment. The Executive acknowledge that the Executive will have no right to employment with the Company after
the Retirement Date and that the Executive shall not apply for reemployment with the Company after the Retirement Date. 
 14. Section
409A. The Executive and the Company intend that all payments made under this Agreement are exempt from, or compliant with, the requirements of Section 409A so that none of the payments or benefits will be subject to the adverse tax
penalties imposed under Section 409A, and any ambiguities herein will be interpreted to be so exempt or to comply. In no event will the Company reimburse you for any taxes or other penalties that may be imposed on you as a result of Section
409A. 
 15. Entire Agreement. The Executive agrees that the Sale Restriction Agreement, the DSU Award Agreement, the SAR
Agreements and the Deferred Compensation Plan will continue to govern your rights thereunder, including, without limitation, any vesting or payment acceleration provisions application upon a change in control or otherwise, as set forth therein,
except to the extent modified pursuant to this Agreement (as so modified, the “Modified Compensation Agreements”). Further, the Executive agrees that except for the Modified Compensation Agreements and the Consulting
Confidentiality Agreement, and except as otherwise expressly provided in this Agreement, this Agreement renders null and void any and all prior or contemporaneous agreements between the Executive and the Company or any affiliate of the
Company. The Executive and the Company agree that this Agreement constitutes the entire agreement between the Executive and the Company and any affiliate of the Company regarding the subject matter of this Agreement, and that this Agreement may
be modified only in a written document signed by the Executive and a duly authorized officer of the Company. 

  
 12 

 16. Choice of Law. This Agreement shall be construed and interpreted in
accordance with the laws of the State of California. 
 17. Severability. The provisions of this Agreement are
severable. If any provision of this Agreement is held invalid or unenforceable, such provision shall be deemed deleted from this Agreement and such invalidity or unenforceability shall not affect any other provision of this Agreement, the
balance of which will remain in and have its intended full force and effect; provided, however that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to
have been modified so as to be valid and enforceable to the maximum extent permitted by law. 
 18. Reformation. In the
event any part, term or provision herein is not enforceable including because its geographic scope, length or subject matter is determined to be excessive, then such part, term or provision shall be reformed to the minimum extent necessary to make
such part, term or provision enforceable. 
 19. Headings. The headings of the Sections of this Agreement are provided
for convenience only. They do not alter or limit, in any way, the text of any Section of this Agreement. 
 20. Execution in
Counterparts. You agree that this Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement. Execution of a facsimile copy or scanned image shall have
the same force and effect as execution of an original, and a facsimile signature or scanned image of a signature shall be deemed an original and valid signature.

21. Execution Deadline.

(a)    You have until 5:00 p.m. PT on June 27, 2016 (the “Release Deadline”) to accept the terms of
this Agreement, which provides you with twenty-one (21) days to review the Agreement. The Executive acknowledges that this Agreement does not apply to any new claims that may arise after this Agreement is executed by the Executive. 

(b)    If the Agreement does not become effective and irrevocable by the
8th day following the Release Deadline, the Executive will forfeit any right to benefits under this Agreement. 

[Signature Page Follows] 

  
 13 

 To accept this Agreement, please sign and date this Agreement and return it to Bob
Kennis. You have until 5:00 p.m. PT on June 27, 2016 to review and consider this Agreement and to provide Bob Kennis with an executed copy thereof. Please indicate your agreement with the above terms by signing below. 

 

			
	Sincerely,
	
	MARCUS & MILLICHAP, INC.
		
	By:	 	 /s/ Hessam Nadji

	(Signature)
	Name:	 	 Hessam Nadji

	Title:	 	 President and Chief Executive Officer

 You have up to 21 days after receipt of this Agreement within which to review it and to discuss with an
attorney of your own choosing, at your own expense, whether or not you wish to sign it. Furthermore, you have 7 days after you have signed this Agreement during which time you may revoke this Agreement. If you wish to revoke this
Agreement, you may do so by delivering a letter of revocation to Bob Kennis, no later than the close of business on the 7th day after you sign this Agreement. Because of the revocation
period, if you don’t revoke this Agreement, you understand that this Agreement shall not become effective or enforceable until the 8th day after the date you sign this Agreement (the
“Effective Date”). 
 My agreement with the terms of this Agreement is signified by my signature
below. Furthermore, I acknowledge that I have read and understand this Agreement and that I sign this release of all claims voluntarily, with full appreciation that at no time in the future may I pursue any of the rights I have waived in this
Agreement. 
  

											
	Signed	 	 /s/ John J. Kerin
	 		 		 		 	Dated: June 13, 2016
		 	John J. Kerin	 		 		 		 	

  
 14

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