Document:

Severance Benefit Plan

 Exhibit 10.27 

HORIZON PHARMA, INC. 

SEVERANCE BENEFIT PLAN 

Section 1. INTRODUCTION. 

The Horizon Pharma, Inc. Severance Benefit Plan (the “Plan”) was established effective July 27, 2010 (the
“Effective Date”). The purpose of the Plan is to provide for the payment of severance benefits to certain eligible employees of Horizon Pharma, Inc. (the “Company”) and Company affiliates that have
been designated by the Company on the attached Appendix A as eligible to participate in the Plan (each such affiliate, an “Employer” and all such affiliates collectively, the “Employers”) whose
employment with the Company or an Employer is involuntarily or constructively terminated and who meet the additional criteria set forth in Section 3 of the Plan (each an “Eligible Employee” and collectively
“Eligible Employees”). This Plan shall supersede any severance benefit plan, policy or practice previously maintained by the Company or any affiliate of the Company for Eligible Employees, except any individually negotiated
employment agreement or severance agreement between an Eligible Employee and the Company or an Employer. This Plan document also is the Summary Plan Description for the Plan. 

Section 2. DEFINITIONS. 

For purposes of this Plan, the following terms shall have the meanings set forth below: 

(a) “Board” means the Company’s board of directors. 

(b) “Cause” for the Company or an Employer to terminate an Eligible Employee’s employment shall mean the occurrence
of any of the following events, as determined reasonably and in good faith by the Board or a committee designated by the Board: 

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

 1. 

 (4) the Eligible Employee’s willful and deliberate breach of any employment
obligations that causes material injury to the business of the Company or an Employer. 
 (c) “Change in
Control” For purposes of this Plan, “Change in Control” means: (i) a sale of all or substantially all of the assets of the Company; (ii) a merger or consolidation in which the Company is not the surviving entity and in
which the holders of the Company’s outstanding voting stock immediately prior to such transaction own, immediately after such transaction, securities representing less than fifty percent (50%) of the voting power of the entity surviving
such transaction or, where the surviving entity is a wholly-owned subsidiary of another entity, the surviving entity’s parent; (iii) a reverse merger in which the Company is the surviving entity but the shares of Company’s common
stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities of the surviving entity’s parent, cash or otherwise, and in which the holders of the Company’s
outstanding voting stock immediately prior to such transaction own, immediately after such transaction, securities representing less than fifty percent (50%) of the voting power of the Company or, where the Company is a wholly-owned subsidiary
of another entity, the Company’s parent; or (iv) an acquisition by any person, entity or group (excluding any employee benefit plan, or related trust, sponsored or maintained by the Company or subsidiary of the Company or other entity
controlled by the Company) of the beneficial ownership of securities of the Company representing at least seventy-five percent (75%) of the combined voting power entitled to vote in the election of the Company’s board of directors;
provided, however, that nothing in this paragraph shall apply to a sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company. 

(d) “Change in Control Related Termination” with respect to an Eligible Employee means such Eligible Employee’s
Covered Termination that occurs during: (i) the ninety (90) day period immediately preceding a Change in Control of the Company, or (ii) the eighteen (18) month period immediately following a Change in Control of the Company.

 (e) “Covered Termination” with respect to an Eligible Employee means such Eligible Employee’s
resignation for Good Reason or Involuntary Termination Without Cause. 
 (f) “Good Reason” for an Eligible
Employee to resign employment shall mean the occurrence of any of the following events without the Eligible Employee’s consent: 

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

(2) the relocation of the Eligible Employee’s primary work location to a point more than fifty (50) miles from the
Eligible Employee’s work location as of the Effective Date that requires a material increase in Eligible Employee’s one-way driving distance; and 
  

 2. 

 (3) a material reduction by the Company or an Employer of the Eligible
Employee’s base salary or annual target bonus opportunity, if any, as in effect on the Effective Date, unless such reduction is made pursuant to an across-the-board reduction of the base salaries and/or annual target bonus opportunity of all
similarly situated employees of the Company or Employer, as applicable. 
 Provided, however that, such resignation by the Eligible Employee
shall only be deemed for Good Reason pursuant to the foregoing definition if (i) the Company is given written notice from the Eligible Employee within sixty (60) days following the first occurrence of the condition that the Eligible
Employee considers to constitute Good Reason describing the condition and the Company or Employer, as applicable, fails to satisfactorily remedy such condition within thirty (30) days following such written notice, and (ii) the Eligible
Employee terminates employment within thirty (30) days following the end of the period within which the Company or Employer was entitled to remedy the condition constituting Good Reason but failed to do so. 

(g) “Involuntary Termination Without Cause” means with respect to a Eligible Employee such Eligible Employee’s
dismissal or discharge by the Company or an Employer for a reason other than for Cause. The termination of a Eligible Employee’s employment will not be deemed to be an “Involuntary Termination Without Cause” if such Eligible
Employee’s termination occurs as a result of such Eligible Employee’s death or disability. 
 (h) “Plan
Administrator” has the meaning set forth in Section 12(a). 
 Section 3. ELIGIBILITY FOR
BENEFITS. 
 (a) General Rules. Subject to the requirements set forth in this Section 3, the
Company will grant severance benefits under the Plan to Eligible Employees. 
 (1) Definition of “Eligible
Employee.” A person is eligible to participate in the Plan if (i) such person is an employee of the Company or an Employer with the title of Vice-President, Senior Vice-President or Executive Vice-President; (ii) such person has
not entered into a separate individual “severance benefit” or “change in control agreement” with the Company (excluding any plan or arrangement, or any portion thereof, relating to equity compensation) except to the extent such
person is a party to a written agreement with the Company that expressly contemplates that such person is also eligible to participate in the Plan; (iii) such person’s employment with the Company or an Employer terminates due to a Covered
Termination; and (iv) the Covered Termination (A) occurs after such person has been continuously employed by the Company or an Employer for a period of at least six (6) months, or (B) is a Change in Control Related Termination. The determination of
whether a person is an Eligible Employee shall be made by the Board, in its sole discretion, and such determination shall be binding and conclusive on all persons. 

(2) In order to be eligible to receive benefits under the Plan, an Eligible Employee must remain on the job until his or her date
of termination as scheduled by the Company or Employer, as applicable. 
 (3) In order to be eligible to receive
benefits under the Plan, an Eligible Employee also must execute a general waiver and release in substantially the form attached hereto as Exhibit A, Exhibit B or Exhibit C, as appropriate, within the time period set

  

 3. 

 
forth therein, but in no event later than forty-five (45) days following termination of employment, and such release must become effective in accordance with its terms. The Plan
Administrator, in its sole discretion, may modify the form of the required release to comply with applicable law and shall determine the form of the required release, which may be incorporated into a termination agreement or other agreement with the
Eligible Employee. 
 (b) Exceptions to Benefit Entitlement. An employee, including an employee who otherwise is an
Eligible Employee, will not receive benefits under the Plan (or will receive reduced benefits under the Plan) in the following circumstances, as determined by the Plan Administrator in its sole discretion: 

(1) The employee has executed an individually negotiated employment contract or agreement with the Company or an Employer
relating to severance benefits that is in effect on his or her termination date, in which case such employee’s severance benefit, if any, shall be governed by the terms of such individually negotiated employment contract or agreement and shall
be governed by this Plan only to the extent that the reduction pursuant to Section 4(c) below does not entirely eliminate benefits under this Plan. 

(2) The employee voluntarily terminates employment with the Company or an Employer without Good Reason. Such voluntary
terminations include, but are not limited to, resignation without Good Reason, retirement or failure to return from a leave of absence on the scheduled date. 

(3) The employee terminates employment due to death or disability. 

(4) The employee terminates employment with the Company or an Employer in order to accept employment with another entity that is
wholly or partly owned (directly or indirectly) by the Company or an Employer. 
 (5) The employee is offered an
identical or substantially equivalent or comparable position with the Company or an Employer. For purposes of the foregoing, a “substantially equivalent or comparable position” is one that offers the employee substantially the same level
of responsibility and compensation. 
 (6) The employee is offered immediate reemployment by a successor to the Company
or an Employer or by a purchaser of its assets, as the case may be, following a change in ownership of the Company or an Employer or a sale of substantially all of the assets of a division or business unit of the Company or an Employer. For purposes
of the foregoing, “immediate reemployment” means that the employee’s employment with the successor to the Company or an Employer or the purchaser of its assets, as the case may be, results in uninterrupted employment such that the
employee does not incur a lapse in pay as a result of the change in ownership of the Company or an Employer or the sale of its assets. 

(7) The employee is rehired by the Company or an Employer prior to the date benefits under the Plan are scheduled to commence.

 (8) Benefits under this Plan shall terminate immediately if the employee, at any time, violates any provision of the
Company’s or an Employer’s Proprietary 
  

 4. 

 
Information and Inventions Agreement or any other proprietary information, confidentiality or non-solicitation obligation to the Company or an Employer. 

Section 4. AMOUNT OF BENEFIT. 

(a) Severance Benefits. Severance benefits under the Plan, if any, shall be provided to Eligible Employees described in
Section 3 in the amount provided in Appendix B, as such Appendix B may be revised by the Board, in its sole discretion, from time to time. The amount of benefits paid to one Eligible Employee shall not determine the amount of benefits payable
to any other Eligible Employee, whether or not similarly situated. 
 (b) Additional Benefits. The Board may, in its sole
discretion, provide benefits (i) in addition to those pursuant to Section 4(a) to Eligible Employees or (ii) to employees who are not Eligible Employees (“Non-Eligible Employees”) chosen by the Board, in its
sole discretion, and the provision of any such benefits to an Eligible Employee or a Non-Eligible Employee shall in no way obligate the Company or the Board to provide such benefits to any other Eligible Employee or to any other Non-Eligible
Employee, even if similarly situated. If benefits under the Plan are provided to a Non-Eligible Employee, references in the Plan to “Eligible Employee” (with the exception of Section 4(a)) shall be deemed to refer to such Non-Eligible
Employee. 
 (c) Certain Reductions. The Company, in its sole discretion, shall have the authority to reduce an Eligible
Employee’s severance benefits, in whole or in part, by any other severance benefits, pay and benefits provided during a period following written notice of a plant closing or mass layoff, pay and benefits in lieu of such notice, or other similar
benefits payable to the Eligible Employee by the Company or an Employer that become payable in connection with the Eligible Employee’s termination of employment pursuant to (i) any applicable legal requirement, including, without
limitation, the Worker Adjustment and Retraining Notification Act, the California Plant Closing Act, or any other similar state law, (ii) a written employment or severance agreement with the Company, or (iii) any Company policy or practice
providing for the Eligible Employee to remain on the payroll for a limited period of time after being given notice of the termination of the Eligible Employee’s employment, and the Plan Administrator shall so construe and implement the terms of
the Plan. Any such reductions that the Company determines to make pursuant to this Section 4(c) shall be made such that any benefit under the Plan shall be reduced solely by any similar type of benefit under such legal requirement, agreement,
policy or practice (i.e., any cash severance benefits under the Plan shall be reduced solely by any cash payments or severance benefits under such legal requirement, agreement, policy or practice, and any continued insurance benefits under
the Plan shall be reduced solely by any continued insurance benefits under such legal requirement, agreement, policy or practice). The Company’s decision to apply such reductions to the severance benefits of one Eligible Employee and the amount
of such reductions shall in no way obligate the Company to apply the same reductions in the same amounts to the severance benefits of any other Eligible Employee, even if similarly situated. In the Company’s sole discretion, such reductions may
be applied on a retroactive basis, with severance benefits previously paid being re-characterized as payments pursuant to the Company’s statutory obligation. 

 

 5. 

 (d) Non-Duplication of Benefits. No Eligible Employee is eligible to receive benefits
under this Plan more than one time. 
 Section 5. RETURN OF COMPANY
PROPERTY. 
 An Eligible Employee will not be entitled to any severance benefit under the Plan unless and
until the Eligible Employee returns all Company Property. For this purpose, “Company Property” means all Company and Employer documents (and all copies thereof) and other Company and Employer property which the Eligible Employee had in his
or her possession at any time, including, but not limited to, Company and Employer files, notes, drawings, records, plans, forecasts, reports, studies, analyses, proposals, agreements, financial information, research and development information,
sales and marketing information, operational and personnel information, specifications, code, software, databases, computer-recorded information, tangible property and equipment (including, but not limited to, computers, facsimile machines, mobile
telephones, servers), credit cards, entry cards, identification badges and keys; and any materials of any kind which contain or embody any proprietary or confidential information of the Company or any Employer (and all reproductions thereof in whole
or in part). 
 Section 6. TIME OF PAYMENT AND FORM
OF BENEFIT. 
 The timing of payment of severance benefits will be as set forth on Appendix B,
subject to the provisions of this Section 6. 
 Notwithstanding anything to the contrary set forth herein or on Appendix B,
any payments and benefits provided under the Plan that constitute “deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and
other guidance thereunder and any state law of similar effect (collectively “Section 409A”) shall not commence in connection with an Eligible Employee’s termination of employment unless and until the Eligible Employee
has also incurred a “separation from service,” as such term is defined in Treasury Regulations Section 1.409A-1(h) (“Separation from Service”), unless the Company reasonably determines that such amounts may be
provided to the Eligible Employee without causing the Eligible Employee to incur the adverse personal tax consequences under Section 409A. 

It is intended that (i) each installment of any benefits payable under the Plan to an Eligible Employee be regarded as a separate
“payment” for purposes of Treasury Regulations Section 1.409A-2(b)(2)(i), (ii) all payments of any such benefits under the Plan satisfy, to the greatest extent possible, the exemptions from the application of Section 409A
provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9)(iii), and (iii) any such benefits consisting of COBRA premiums also satisfy, to the greatest extent possible, the exemption from the application of
Section 409A provided under Treasury Regulations Section 1.409A-1(b)(9)(v). However, if the Company determines that any such benefits payable under the Plan constitute “deferred compensation” under Section 409A and the
Eligible Employee is a “specified employee” of the Company, as such term is defined in Section 409A(a)(2)(B)(i), then, solely to the extent necessary to avoid the imposition of the adverse personal tax consequences under
Section 409A, (A) the timing of such benefit payments shall be delayed until the earlier of (1) the date that is six (6) months and one (1) day after the Eligible 

 

 6. 

 
Employee’s Separation from Service and (2) the date of the Eligible Employee’s death (such applicable date, the “Delayed Initial Payment Date”), and
(B) the Company shall (1) pay the Eligible Employee a lump sum amount equal to the sum of the benefit payments that the Eligible Employee would otherwise have received through the Delayed Initial Payment Date if the commencement of the
payment of the benefits had not been delayed pursuant to this paragraph and (2) commence paying the balance, if any, of the benefits in accordance with the applicable payment schedule. 

In no event shall payment of any benefits under the Plan be made prior to an Eligible Employee’s termination date or prior to the
effective date of the release described in Section 3(a)(3). If the Company determines that any payments or benefits provided under the Plan constitute “deferred compensation” under Section 409A, and the Eligible Employee’s
Separation from Service occurs at a time during the calendar year when the release described in Section 3(a)(3) could become effective in the calendar year following the calendar year in which the Eligible Employee’s Separation from
Service occurs, then regardless of when the release is returned to the Company and becomes effective, the release will not be deemed effective any earlier than the latest permitted effective date. 

All severance payments under the Plan shall be subject to applicable withholding for federal, state and local taxes. If an Eligible
Employee is indebted to the Company at his or her termination date, the Company reserves the right to offset any severance payments under the Plan by the amount of such indebtedness. 

Section 7. APPLICATION OF INTERNAL REVENUE CODE
SECTION 280G. 
 If any payment or benefit an Eligible Employee would receive under the Plan from the
Company pursuant to a Change in Control or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise
tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no
portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income
taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Eligible Employee’s receipt, on an after-tax basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be
subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the manner that results in the greatest economic
benefit for the Eligible Employee. If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata. 

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

 7. 

 
pursuant to clause (y) in the preceding paragraph, the Eligible Employee will have no obligation to return any portion of the Payment pursuant to the preceding sentence. 

The accounting firm engaged by the Company for general tax compliance purposes as of the day prior to the effective date of the Change in
Control shall perform the foregoing calculations unless otherwise determined by the Company. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control,
the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder.

 The Company shall use commercially reasonable efforts to cause the accounting firm engaged to make the determinations
hereunder to provide its calculations, together with detailed supporting documentation, within fifteen (15) calendar days after the date on which the Eligible Employee’s right to a Payment is triggered or such other time as requested by
the Company. 
 Section 8. REEMPLOYMENT. 

In the event of an Eligible Employee’s reemployment by the Company or an Employer during the period of time in respect of which
severance benefits provided under the Plan have been paid, the Company, in its sole and absolute discretion, may require such Eligible Employee to repay to the Company all or a portion of such severance benefits as a condition of reemployment.

 Section 9. RIGHT TO INTERPRET PLAN; AMENDMENT
AND TERMINATION. 
 (a) Exclusive Discretion. The Plan Administrator shall have the
exclusive discretion and authority to establish rules, forms, and procedures for the administration of the Plan and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or
administration arising in connection with the operation of the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The rules, interpretations, computations and other actions of
the Plan Administrator shall be binding and conclusive on all persons. 
 (b) Amendment or Termination. The Company
reserves the right to amend or terminate this Plan (including Appendix A and Appendix B) or the benefits provided hereunder at any time; provided, however, that no such amendment or termination shall affect the right to any unpaid benefit of
any Eligible Employee whose termination date has occurred prior to amendment or termination of the Plan. Any action amending or terminating the Plan shall be in writing and executed by the Chief Executive Officer or Chief Financial Officer of the
Company. 
 Section 10. NO IMPLIED EMPLOYMENT CONTRACT. 

The Plan shall not be deemed (i) to give any employee or other person any right to be retained in the employ of the Company or an
Employer or (ii) to interfere with the right of the 
  

 8. 

 
Company or an Employer to discharge any employee or other person at any time, with or without cause, which right is hereby reserved. 

Section 11. LEGAL CONSTRUCTION. 

This Plan is intended to be governed by and shall be construed in accordance with the Employee Retirement Income Security Act of 1974
(“ERISA”) and, to the extent not preempted by ERISA, the laws of the State of California. 

Section 12. CLAIMS, INQUIRIES AND APPEALS. 

(a) Applications for Benefits and Inquiries. Any application for benefits, inquiries about the Plan or inquiries about present or
future rights under the Plan must be submitted to the Plan Administrator in writing by an applicant (or his or her authorized representative). The Plan Administrator is: 

Horizon Pharma, Inc. 

1033 Skokie Boulevard, Suite 355 

Northbrook, Illinois 60062 

(b) Denial of Claims. In the event that any application for benefits is denied in whole or in part, the Plan Administrator must
provide the applicant with written or electronic notice of the denial of the application, and of the applicant’s right to review the denial. Any electronic notice will comply with the regulations of the U.S. Department of Labor. The notice of
denial will be set forth in a manner designed to be understood by the applicant and will include the following: 
 (1)
the specific reason or reasons for the denial; 
 (2) references to the specific Plan provisions upon which the
denial is based; 
 (3) a description of any additional information or material that the Plan Administrator needs to
complete the review and an explanation of why such information or material is necessary; and 
 (4) an explanation of
the Plan’s review procedures and the time limits applicable to such procedures, including a statement of the applicant’s right to bring a civil action under Section 502(a) of ERISA following a denial on review of the claim, as
described in Section 10(d) below. 
 This notice of denial will be given to the applicant within ninety (90) days
after the Plan Administrator receives the application, unless special circumstances require an extension of time, in which case, the Plan Administrator has up to an additional ninety (90) days for processing the application. If an extension of
time for processing is required, written notice of the extension will be furnished to the applicant before the end of the initial ninety (90) day period. 
  

 9. 

 This notice of extension will describe the special circumstances necessitating the
additional time and the date by which the Plan Administrator is to render its decision on the application. 
 (c) Request for
a Review. Any person (or that person’s authorized representative) for whom an application for benefits is denied, in whole or in part, may appeal the denial by submitting a request for a review to the Plan Administrator within sixty
(60) days after the application is denied. A request for a review shall be in writing and shall be addressed to: 
 Horizon
Pharma, Inc. 
 1033 Skokie Boulevard, Suite 355 

Northbrook, Illinois 60062 
 A
request for review must set forth all of the grounds on which it is based, all facts in support of the request and any other matters that the applicant feels are pertinent. The applicant (or his or her representative) shall have the opportunity to
submit (or the Plan Administrator may require the applicant to submit) written comments, documents, records, and other information relating to his or her claim. The applicant (or his or her representative) shall be provided, upon request and free of
charge, reasonable access to, and copies of, all documents, records and other information relevant to his or her claim. The review shall take into account all comments, documents, records and other information submitted by the applicant (or his or
her representative) relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. 

(d) Decision on Review. The Plan Administrator will act on each request for review within sixty (60) days after receipt of
the request, unless special circumstances require an extension of time (not to exceed an additional sixty (60) days), for processing the request for a review. If an extension for review is required, written notice of the extension will be
furnished to the applicant within the initial sixty (60) day period. This notice of extension will describe the special circumstances necessitating the additional time and the date by which the Plan Administrator is to render its decision on
the review. The Plan Administrator will give prompt, written or electronic notice of its decision to the applicant. Any electronic notice will comply with the regulations of the U.S. Department of Labor. In the event that the Plan Administrator
confirms the denial of the application for benefits in whole or in part, the notice will set forth, in a manner calculated to be understood by the applicant, the following: 

(1) the specific reason or reasons for the denial; 

(2) references to the specific Plan provisions upon which the denial is based; 

(3) a statement that the applicant is entitled to receive, upon request and free of charge, reasonable access to, and copies of,
all documents, records and other information relevant to his or her claim; and 
  

 10. 

 (4) a statement of the applicant’s right to bring a civil action under
Section 502(a) of ERISA. 
 (e) Rules and Procedures. The Plan Administrator will establish rules and procedures,
consistent with the Plan and with ERISA, as necessary and appropriate in carrying out its responsibilities in reviewing benefit claims. The Plan Administrator may require an applicant who wishes to submit additional information in connection with an
appeal from the denial of benefits to do so at the applicant’s own expense. 
 (f) Exhaustion of Remedies. No legal
action for benefits under the Plan may be brought until the applicant (i) has submitted a written application for benefits in accordance with the procedures described by Section 12(a) above, (ii) has been notified by the Plan
Administrator that the application is denied, (iii) has filed a written request for a review of the application in accordance with the appeal procedure described in Section 12(c) above, and (iv) has been notified that the Plan
Administrator has denied the appeal. Notwithstanding the foregoing, if the Plan Administrator does not respond to a Participant’s claim or appeal within the relevant time limits specified in this Section 12, the Participant may bring legal
action for benefits under the Plan pursuant to Section 502(a) of ERISA. 
 Section 13. BASIS OF
PAYMENTS TO AND FROM PLAN. 
 The Plan shall be
unfunded, and all cash payments under the Plan shall be paid only from the general assets of the Company. 
 Section 14.
OTHER PLAN INFORMATION. 
 (a) Employer and Plan Identification Numbers.
The Employer Identification Number assigned to the Company (which is the “Plan Sponsor” as that term is used in ERISA) by the Internal Revenue Service is 27-2179987. The Plan Number assigned to the Plan by the Plan Sponsor pursuant to the
instructions of the Internal Revenue Service is 510. 
 (b) Ending Date for Plan’s Fiscal Year. The date of the end
of the fiscal year for the purpose of maintaining the Plan’s records is December 31. 
 (c) Agent for the Service
of Legal Process. The agent for the service of legal process with respect to the Plan is: 
 Executive Vice-President and
Chief Financial Officer 
 Horizon Pharma, Inc. 

1033 Skokie Boulevard, Suite 355 

Northbrook, Illinois 60062 
 In
addition, service of legal process may be made upon the Plan Administrator. 
 (d) Plan Sponsor and Administrator. The
“Plan Sponsor” and the “Plan Administrator” of the Plan is: 
 Horizon Pharma, Inc. 

 

 11. 

 1033 Skokie Bowlevard, Suite 355 

Northbrook, Illinois 60062 

The Plan Sponsor’s and Plan Administrator’s telephone number is (224) 383-3000. The Plan Administrator is the
named fiduciary charged with the responsibility for administering the Plan. 
 Section 15. STATEMENT OF
ERISA RIGHTS. 
 Participants in this Plan (which is a welfare benefit plan sponsored by Horizon Pharma, Inc.)
are entitled to certain rights and protections under ERISA. If you are an Eligible Employee, you are considered a participant in the Plan and, under ERISA, you are entitled to: 

(a) Receive Information About Your Plan and Benefits 

(1) Examine, without charge, at the Plan Administrator’s office and at other specified locations, such as worksites, all
documents governing the Plan and a copy of the latest annual report (Form 5500 Series), if applicable, filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration;

 (2) Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan
and copies of the latest annual report (Form 5500 Series), if applicable, and an updated (as necessary) Summary Plan Description. The Administrator may make a reasonable charge for the copies; and 

(3) Receive a summary of the Plan’s annual financial report, if applicable. The Plan Administrator is required by law to
furnish each participant with a copy of this summary annual report. 
 (b) Prudent Actions by Plan Fiduciaries. In
addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate the Plan, called “fiduciaries” of the Plan, have a duty to
do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer, your union or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a
Plan benefit or exercising your rights under ERISA. 
 (c) Enforce Your Rights. If your claim for a Plan benefit is
denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 

Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the
latest annual report from the Plan, if applicable, and do not receive them within 30 days, you may file suit in a Federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to

  

 12. 

 
$110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. 

If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court.

 If you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or
you may file suit in a Federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these
costs and fees, for example, if it finds your claim is frivolous. 
 (d) Assistance with Your Questions. If you have any
questions about the Plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact
the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of
Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

 Section 16. EXECUTION. 

To record the adoption of the Plan as set forth herein, effective as of July 27, 2010, Horizon Pharma, Inc. has caused its duly authorized
officer to execute the same this 3rd day of August, 2010. 
  

			
	HORIZON PHARMA, INC.
		
	By:	 	/s/ Robert J. De Vaere
		
	Title:	 	Executive VP and Chief Financial Officer

  

 13. 

 For Employees Age 40 or Older 

Individual Termination 
  

 EXHIBIT A 

RELEASE AGREEMENT 

I understand and agree completely to the terms set forth in the Horizon Pharma, Inc. Severance Benefit Plan (the
“Plan”). 
 I understand that this Release Agreement (the “Release”), together with
the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company, affiliates of the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the
Company or an Employer that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 

I hereby confirm my obligations under my proprietary information and inventions agreement with the Company and/or the Employer.

 In consideration of the severance benefits and other consideration provided to me under the Plan that I am not otherwise
entitled to receive, I hereby generally and completely release the Company, the Employers, and their parents, subsidiaries, successors, predecessors and affiliates, and their current and former partners, members, directors, officers, employees,
stockholders, shareholders, agents, attorneys, predecessors, successors, insurers, affiliates and assigns, from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts,
conduct, or omissions occurring at any time prior to and including the date I sign this Release (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (a) all claims arising out of or in any way
related to my employment with the Company, the Employers, or their affiliates, or the termination of that employment; (b) all claims related to my compensation or benefits, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company, the Employers and their affiliates; (c) all claims for breach of contract, wrongful termination, and
breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory
claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990 (as amended), the
federal Age Discrimination in Employment Act (as amended) (“ADEA”), the federal Employee Retirement Income Security Act of 1974 (as amended), and the California Fair Employment and Housing Act (as amended). 

Notwithstanding the foregoing, I understand that the following rights or claims are not included in the Released Claims: (a) any
rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company, the Employers or their affiliates to which I am a party; the charter, bylaws, or operating agreements of he Company, the Employers or
their affiliates; or under applicable law; or (b) any rights that cannot be waived as a matter of law. In addition, I understand that nothing in this Release prevents me from filing, cooperating with, or participating in any proceeding before
the Equal Employment Opportunity 
  

 1. 

 For Employees Age 40 or Older 

Group Termination 
  

 
Commission, the Department of Labor, the California Department of Fair Employment and Housing, or any other government agency, except that I hereby waive my right to any monetary benefits in
connection with any such claim, charge or proceeding. I hereby represent and warrant that, other than the claims identified in this paragraph, I am not aware of any claims I have or might have that are not included in the Released Claims.

 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA, and that the
consideration given under the Plan for the waiver and release in this paragraph is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised by this writing, as required by the ADEA, that:
(a) my waiver and release do not apply to any rights or claims that may arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release (although I may choose voluntarily not do so); (c) I
have twenty-one (21) days to consider this Release (although I may choose voluntarily to sign this Release earlier); (d) I have seven (7) days following the date I sign this Release to revoke the Release by providing written notice to
an officer of the Company; and (e) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth day after I sign this Release provided I have not revoked it. 

I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general
release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the
debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims hereunder. 

I hereby represent that I have been paid all compensation owed and for all hours worked; I have received all the leave and leave benefits
and protections for which I am eligible pursuant to the Family and Medical Leave Act, the California Family Rights Act, or otherwise; and I have not suffered any on-the-job injury for which I have not already filed a workers’ compensation
claim. 
 I acknowledge that to become effective, I must sign and return this Release to the Company so that it is received not
later than twenty-one (21) days following the date it is provided to me or such other date as specified by the Company. 
  

			
	EMPLOYEE
		
	 Printed Name:
	 	  

		
	Signature:	 	  

		
	Date:	 	  

 

 2. 

 For Employees Age 40 or Older 

Group Termination 
  

 EXHIBIT B 

RELEASE AGREEMENT 

I understand and agree completely to the terms set forth in the Horizon Pharma, Inc. Severance Benefit Plan (the
“Plan”). 
 I understand that this Release Agreement (the “Release”), together with
the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company, affiliates of the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the
Company or an Employer that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 

I hereby confirm my obligations under my proprietary information and inventions agreement with the Company and/or the Employer.

 In consideration of the severance benefits and other consideration provided to me under the Plan that I am not otherwise
entitled to receive, I hereby generally and completely release the Company, the Employers, and their parents, subsidiaries, successors, predecessors and affiliates, and their current and former partners, members, directors, officers, employees,
stockholders, shareholders, agents, attorneys, predecessors, successors, insurers, affiliates and assigns, from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts,
conduct, or omissions occurring at any time prior to and including the date I sign this Release (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (a) all claims arising out of or in any way
related to my employment with the Company, the Employers, or their affiliates, or the termination of that employment; (b) all claims related to my compensation or benefits, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company, the Employers and their affiliates; (c) all claims for breach of contract, wrongful termination, and
breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory
claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990 (as amended), the
federal Age Discrimination in Employment Act (as amended) (“ADEA”), the federal Employee Retirement Income Security Act of 1974 (as amended), and the California Fair Employment and Housing Act (as amended). 

Notwithstanding the foregoing, I understand that the following rights or claims are not included in the Released Claims: (a) any
rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company, the Employers or their affiliates to which I am a party; the charter, bylaws, or operating agreements of he Company, the Employers or
their affiliates; or under applicable law; or (b) any rights that cannot be waived as a matter of law. In addition, I understand that nothing in this Release prevents me from filing, cooperating with, or participating in any proceeding before
the Equal Employment Opportunity 
  

 1. 

 For Employees Age 40 or Older 

Group Termination 
  

 
Commission, the Department of Labor, the California Department of Fair Employment and Housing, or any other government agency, except that I hereby waive my right to any monetary benefits in
connection with any such claim, charge or proceeding. I hereby represent and warrant that, other than the claims identified in this paragraph, I am not aware of any claims I have or might have that are not included in the Released Claims.

 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA, and that the
consideration given under the Plan for the waiver and release in this paragraph is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised by this writing, as required by the ADEA, that:
(a) my waiver and release do not apply to any rights or claims that may arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release (although I may choose voluntarily not to do so);
(c) I have forty-five (45) days to consider this Release (although I may choose voluntarily to sign this Release earlier); (d) I have seven (7) days following the date I sign this Release to revoke the Release by providing
written notice to an office of the Company; (e) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth day after I sign this Release provided I have not revoked it; and
(f) I have received with this Release all of the information required by the ADEA, including without limitation a detailed list of the job titles and ages of all employees who were terminated in this group termination and the ages of all
employees of the Company in the same job classification or organizational unit who were not terminated. 
 I acknowledge that I
have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the
release, which if known by him or her must have materially affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect
with respect to my release of any claims hereunder. 
 I hereby represent that I have been paid all compensation owed and for
all hours worked; I have received all the leave and leave benefits and protections for which I am eligible pursuant to the Family and Medical Leave Act, the California Family Rights Act, or otherwise; and I have not suffered any on-the-job injury
for which I have not already filed a workers’ compensation claim. 
 I acknowledge that to become effective, I must sign
and return this Release to the Company so that it is received not later than forty-five (45) days following the date it is provided to me or such other date as specified by the Company. 

 

			
	EMPLOYEE
		
	 Printed Name:
	 	  

		
	Signature:	 	  

		
	Date:	 	  

 

 2. 

 For Employees Under Age 40 

Individual or Group Termination 
  

 EXHIBIT C 

RELEASE AGREEMENT 

I understand and agree completely to the terms set forth in the Horizon Pharma, Inc. Severance Benefit Plan (the
“Plan”). 
 I understand that this Release Agreement (the “Release”), together with
the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between the Company, affiliates of the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the
Company or an Employer that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 

I hereby confirm my obligations under my proprietary information and inventions agreement with the Company and/or the Employer.

 In consideration of the severance benefits and other consideration provided to me under the Plan that I am not otherwise
entitled to receive, I hereby generally and completely release the Company, the Employers, and their parents, subsidiaries, successors, predecessors and affiliates, and their current and former partners, members, directors, officers, employees,
stockholders, shareholders, agents, attorneys, predecessors, successors, insurers, affiliates and assigns, from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts,
conduct, or omissions occurring at any time prior to and including the date I sign this Release (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (a) all claims arising out of or in any way
related to my employment with the Company, the Employers, or their affiliates, or the termination of that employment; (b) all claims related to my compensation or benefits, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company, the Employers and their affiliates; (c) all claims for breach of contract, wrongful termination, and
breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory
claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990 (as amended), the
federal Age Discrimination in Employment Act (as amended) (“ADEA”), the federal Employee Retirement Income Security Act of 1974 (as amended), and the California Fair Employment and Housing Act (as amended). 

Notwithstanding the foregoing, I understand that the following rights or claims are not included in the Released Claims: (a) any
rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company, the Employers or their affiliates to which I am a party; the charter, bylaws, or operating agreements of he Company, the Employers or
their affiliates; or under applicable law; or (b) any rights that cannot be waived as a matter of law. In addition, I understand that nothing in this Release prevents me from filing, cooperating with, or participating in any proceeding before
the Equal Employment Opportunity Commission, the Department of Labor, the California Department of Fair Employment and Housing, or any other government agency, except that I hereby waive my right to any monetary benefits in connection with any such
claim, charge or proceeding. I hereby represent and warrant that, other than the claims identified in this paragraph, I am not aware of any claims I have or might have that are not included in the Released Claims. 

 

 1. 

 For Employees Under Age 40 

Individual or Group Termination 
  

 I acknowledge that I have read and understand Section 1542 of the California Civil
Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially
affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims hereunder.

 I hereby represent that I have been paid all compensation owed and for all hours worked; I have received all the leave and
leave benefits and protections for which I am eligible pursuant to the Family and Medical Leave Act, the California Family Rights Act, or otherwise; and I have not suffered any on-the-job injury for which I have not already filed a workers’
compensation claim. 
 I acknowledge that to become effective, I must sign and return this Release to the Company so that it is
received not later than fourteen (14) days following the date it is provided to me or such other date as specified by the Company. 
  

			
	EMPLOYEE
		
	 Printed Name:
	 	  

		
	Signature:	 	  

		
	Date:	 	  

 

 2. 

 APPENDIX A 

HORIZON PHARMA, INC. 

SEVERANCE BENEFIT PLAN 

Affiliates of the Company whose employees are eligible to participate in the Horizon Pharma, Inc. Severance Benefit Plan (each an
“Employer”) are as follows: 
 Horizon Pharma USA, Inc., a Delaware corporation. 

The foregoing list of Employers is subject to such change as the Company, pursuant to Section 1 of the Plan, may determine in its sole and absolute
discretion. Any such change to the participating Employers shall be set forth in a revised version of this Appendix A. 
  

			
	Appendix A Adopted: July 27, 2010
	
	HORIZON PHARMA, INC.
		
	By:	 	 /s/ Robert J. De Vaere

		
	Title:	 	 Executive VP and Chief Financial Officer

 

 1. 

 APPENDIX B 

HORIZON PHARMA, INC. 

CHANGE IN CONTROL SEVERANCE BENEFIT PLAN 

 Severance benefits provided to Eligible Employees under the Horizon Pharma, Inc. Severance Benefit Plan (the
“Plan”) are as follows. Capitalized terms used herein have the definitions set forth in the Plan. 
  

	1.	Severance Benefits. Subject to the exceptions set forth in Section 3(b) of the Plan, each Eligible Employee who meets all the requirements set forth in
Sections 3(a) and 5 of the Plan, including, without limitation, executing a general waiver and release in substantially the form attached to the Plan as Exhibit A, Exhibit B or Exhibit C, as appropriate, within the applicable time period set forth
therein and provided that such release becomes effective in accordance with its terms, shall receive severance benefits as set forth in this Appendix B. The Company, in its sole discretion, may modify the form of the required general waiver and
release to comply with applicable law, and may incorporate such waiver and release into a termination agreement or other agreement with the Eligible Employee. 

 

	 	(a)	Cash Severance Benefit. Eligible Employees shall be entitled to receive a cash severance benefit equal to the number of months of Base Salary set forth below
next to his or her position at the time of termination. Such cash severance benefits will be paid in equal installments in accordance with the Company’s regular payroll procedures over the applicable monthly period following the date of
termination as indicated below, subject to any delay in payment required by Section 6 of the Plan including any delay necessary so that no payments are made prior to the effectiveness of the release and waiver. 

 

			
	 Position
	  	 Months of Base Salary

	 Vice-President
	  	3 months
	 Senior Vice-President
	  	6 months
	 Executive Vice-President
	  	6 months

 “Base
Salary” shall mean the Eligible Employee’s base pay (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation), at the rate in effect during the last regularly scheduled payroll
period immediately preceding the date of the Eligible Employee’s Covered Termination, and prior to any reduction in base pay that would permit such Covered Employee to voluntarily resign employment for Good Reason. 

 

 2. 

	 	(b)	Continued Group Health Plan Benefits. Each Eligible Employee who is enrolled in a health, dental, or vision plan sponsored by the Company or an Employer may be
eligible to continue coverage under such health, dental, or vision plan (or to convert to an individual policy), at the time of the Eligible Employee’s termination of employment, under the Consolidated Omnibus Budget Reconciliation Act of 1985
(“COBRA”). The Company will notify the Eligible Employee of any such right to continue such coverage at the time of termination pursuant to COBRA. No provision of this Plan will affect the continuation coverage rules under
COBRA, except that the Company’s payment, if any, of applicable insurance premiums will be credited, except for purposes of the American Recovery and Reinvestment Act of 2009, as amended (“ARRA”), as payment by the
Eligible Employee for purposes of the Eligible Employee’s payment required under COBRA. Therefore, the period during which an Eligible Employee may elect to continue the Company’s or its affiliate’s health, dental, or vision plan
coverage at his or her own expense under COBRA, the length of time during which COBRA coverage will be made available to the Eligible Employee, and all other rights and obligations of the Eligible Employee under COBRA (except the obligation to pay
insurance premiums) will be applied in the same manner that such rules would apply in the absence of this Plan. 

If an Eligible Employee timely elects continued coverage under COBRA, the Company shall pay the full amount of the Eligible
Employee’s COBRA premiums, or shall provide coverage under any self-funded plan, on behalf of the Eligible Employee for the Eligible Employee’s continued coverage under the Company’s group health plans, including coverage for the
Eligible Employee’s eligible dependents, for a number of months following the Eligible Employee’s termination of employment as set forth in the table below in accordance with his or her position at the time of termination; provided,
however, that no such premium payments shall be made, and no coverage shall be provided under any self-funded group health plan, following the Eligible Employee’s death or the effective date of the Eligible Employee’s coverage by a group
health plan of a subsequent employer. Each Eligible Employee shall be required to notify the Company immediately if the Eligible Employee becomes covered by a group health plan of a subsequent employer. Upon the conclusion of such period of
insurance premium payments made by the Company, or the provision of coverage under a self-funded group health plan, the Eligible Employee will be responsible for the entire payment of premiums required under COBRA for the duration of the COBRA
period, except to the extent that the Eligible Employee qualifies under ARRA as an “assistance eligible individual” who is entitled to COBRA premium assistance without recapture. 

For purposes of this Section 1(b), (i) references to COBRA shall be deemed to refer also to analogous provisions of state law
and (ii) any applicable insurance premiums that are paid by the Company shall not include any amounts payable by the Eligible Employee under an Internal Revenue Code Section 125 health care reimbursement plan, which amounts, if any, are
the sole responsibility of the Eligible Employee. 
  

 3. 

			
	 Position
	  	 Months of Continued

COBRA Premium Benefits

	 Vice-President
	  	3 Months
	 Senior Vice-President
	  	6 Months
	 Executive Vice-President
	  	6 Months

  

	2.	Change in Control Related Termination Equity Vesting Benefits. If the Eligible Employee’s termination is a Change in Control Related Termination, then:
(i) the vesting and exercisability of all outstanding options to purchase the Company’s or an Employer’s common stock that are held by the Eligible Employee on such date shall be accelerated in full as of the date of such Change in
Control Related Termination, (ii) any reacquisition or repurchase rights held by the Company or an Employer in respect of common stock issued pursuant to any other stock award granted to the Eligible Employee by the Company or an Employer shall
lapse in full as of the date of such Change in Control Related Termination, and (iii) the vesting of any other stock awards granted to the Eligible Employee by the Company, and any issuance of shares triggered by the vesting of such stock
awards, shall be accelerated in full as of the date of such Change in Control Related Termination. No equity vesting acceleration shall occur under the Plan in the event of a Covered Termination that is not a Change in Control Related Termination.

 Notwithstanding the foregoing, this Section 2 shall not apply to stock awards issued under or held in any
Qualified Plan. “Qualified Plan” means a plan sponsored by the Company or an Employer that is intended to be qualified under Section 401(a) of the Internal Revenue Code. 

 

	3.	Other Employee Benefits. All other benefits (such as life insurance, disability coverage, and 401(k) plan coverage) terminate as of the Eligible Employee’s
termination date (except to the extent that a conversion privilege may be available thereunder). 

  

	4.	Reductions Pursuant to Section 4(c) of the Plan. The severance benefits set forth in this Appendix B are subject to certain reductions under
Section 4(c) of the Plan. 

 The foregoing severance benefits are subject to such change as the Company,
pursuant to Section 4(a) and 4(b) of the Plan, may determine in its sole and absolute discretion. Any such change in severance benefits made pursuant to Section 4(a) of the Plan shall be set forth in a revised version of this Appendix B.

  

			
	Appendix B Adopted: July 27, 2010
	
	HORIZON PHARMA, INC.
		
	By:	 	 /s/ Robert J. De Vaere

		
	Title:	 	 Executive VP and Chief Financial Officer

 

 4.Amendment No. 9 to the Pooling and servicing Agreement

 Exhibit 10.1 

EXECUTION COPY 

AMENDMENT NO. 9 TO THE 

POOLING AND SERVICING AGREEMENT 

THIS AMENDMENT NO. 9 (this “Amendment”) to the Pooling and Servicing Agreement is made as of July 31, 2010 by and
among Navistar Financial Securities Corporation, a Delaware corporation (“NFSC”), Navistar Financial Corporation, a Delaware corporation (“Navistar Financial”), and The Bank of New York Mellon, a New York banking
corporation, as Master Trust Trustee (the “Master Trust Trustee”). 
 NFSC, as Seller, Navistar Financial, as
Servicer, and the Master Trust Trustee are parties to a Pooling and Servicing Agreement, dated as of June 8, 1995, and amended by Amendment No. 1, dated September 12, 1995, by Amendment No. 2, dated March 27, 1996, by
Amendment No. 3, dated July 17, 1998, by Amendment No. 4 dated June 2, 2000, by Amendment No. 5, dated as of July 13, 2000, by Amendment No. 6, dated October 31, 2003, by Amendment No. 7, dated
June 10, 2004 and by Amendment No. 8, dated November 10, 2009 (as amended, the “Pooling and Servicing Agreement”). The Seller, the Servicer and the Master Trust Trustee have agreed to amend the Pooling and Servicing
Agreement in the manner set forth herein. Capitalized terms used herein but not otherwise defined have the meanings set forth in the Pooling and Servicing Agreement. 

1. Amendments to Section 1.01. 

(a) The definition of “Defaulted Dealer Note” shall be added to Section 1.01 in proper alphabetical order to
read as follows: 
 ““Defaulted Dealer Note” shall mean any Dealer Note held by the Master Trust that is
either (i) 60 days past due and which the Servicer knows to be attributable in whole or in part to the obligor’s unwillingness or financial inability to pay or (ii) charged-off as uncollectible in accordance with the Servicer’s
normal practices.” 
 (b) The definition of “Eligible Dealer” shall be added to Section 1.01
in proper alphabetical order to read as follows: 
 ““Eligible Dealer” shall mean, with respect to any
date, a Dealer that: 
 (a) with respect to which, during the preceding 12 months, the Servicer has not charged
off, without recovery, any Dealer Notes in excess of $25,000; 
 (b) has not been placed on the “critical
dealer list” maintained by NFC (or any equivalent designation of NFC); and 
 (c) has not been placed on
cash-on-delivery terms. 

 (c) The definitions of “Eligible Dealer Note” shall be amended by
(i) deleting the word “and” at the end of clause (u), (ii) deleting the “.” at the end of clause (v) and replacing it with “; and” and (iii) adding the following clause (w) in proper
alphabetical order to read as follows: 
 “(w) which was issued by a Dealer that is an Eligible Dealer that was not a
Removed Dealer at the time of transfer of such Dealer Note from NFC to NFSC.” 
 (d) The definition of “Ineligible
Dealer” shall be added to Section 1.01 in proper alphabetical order to read as follows: 

““Ineligible Dealer” shall mean a Dealer that is not an Eligible Dealer.” 

(e) The definition of “Removal Balance” shall be added to Section 1.01 in proper alphabetical order to read
as follows: 
 ““Removal Balance” shall have the meaning specified in Section 2.10(a)(ii).”

 (f) The definition of “Removal Commencement Date” shall be added to Section 1.01 in proper
alphabetical order to read as follows: 
 ““Removal Commencement Date” shall have the meaning specified in
Section 2.10(a)(i).” 
 (g) The definition of “Removal Date” shall be added to
Section 1.01 in proper alphabetical order to read as follows: 
 ““Removal Date” shall have the
meaning specified in Section 2.10(d).” 
 (h) The definition of “Removal Notice” shall be added to
Section 1.01 in proper alphabetical order to read as follows: 
 ““Removal Notice” shall have
the meaning specified in Section 2.10(a)(i).” 
 (i) The definition of “Removed Dealer” shall be
added to Section 1.01 in proper alphabetical order to read as follows: 
 ““Removed Dealer”
shall have the meaning specified in Section 2.10(a).” 
 2. Amendment to Article II. 

 

	 	(a)	Section 2.06(a) is hereby amended by replacing the phrase “(j) through (u)” therein with the phrase “(j) through (w)”.

  

	 	(b)	Section 2.10 shall be added to Article II in proper numerical order to read as follows: 

“Section 2.10 Optional Designation of Dealers as Removed Dealers and Removal of Eligible Dealer Notes.

  

 2 

 (a) On any Business Day, the Seller shall have the right from time to time
as described in this Section 2.10 to designate, in its sole discretion, but subject to the limitations below, one or more Eligible Dealers as a Dealer whose Dealer Notes will no longer be permitted to be transferred to the Master Trust
(each, until the Seller and NFC shall agree that such designation shall no longer apply, a “Removed Dealer”) and to require, at the election of the Seller, the Dealer Notes issued by such Dealer to be removed from the Master Trust.
To so designate any Dealer as a Removed Dealer and, if applicable, to remove the related Dealer Notes, the Seller (or the Servicer on its behalf) shall take the following actions and make the following determinations: 

(i) not less than three Business Days but not more than 30 days prior to the Removal Commencement Date, furnish to the
Master Trust Trustee and the Rating Agencies a written notice (the “Removal Notice”) specifying the Seller’s intent to designate one or more Eligible Dealers as Removed Dealers, the Dealers to which such designation will relate
and the date such designation will become effective (the “Removal Commencement Date”), and, if the Seller intends to remove Dealer Notes pursuant to Section 2.10(c), not less than three Business Days but not more than 30
days prior to such removal of Dealer Notes, furnish to the Master Trust Trustee and the Rating Agencies, a written notice specifying the Seller’s intent to remove Dealer Notes, the Removed Dealer(s) to which such Dealer Notes relate and the
date the Dealer Notes will be removed; and 
 (ii) determine on the Removal Commencement Date with respect to
such Dealer Notes the aggregate principal amount of such Dealer Notes (the “Removal Balance”). 

(b) The designation of any Dealer as a Removed Dealer and, if applicable, the removal of any of such Dealer Notes pursuant
to this Section 2.10 shall be subject to the following conditions: 
 (i) the Seller shall represent
and warrant that such designation and removal shall not, in the reasonable belief of the Seller, result in the occurrence of an Early Amortization Event or have an adverse effect in any material respect on any Investor Certificates; 

(ii) the aggregate amount of Eligible Dealer Notes related to such Removed Dealers, together with the Eligible Dealer
Notes related to any Dealers designated as Removed Dealers pursuant to this Section 2.10 in the preceding twelve (12) month period, in each case as of the applicable Removal Commencement Date, shall not exceed 5.0% of the aggregate amount
of all Eligible Dealer Notes held by the Master Trust as of the current Removal Commencement Date; 
  

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 (iii) such designation and removal shall not cause the Master Trust
Seller’s Interest to be less than the Minimum Master Trust Seller’s Interest; and 
 (iv) on or before
the related Removal Commencement Date, the Seller shall have delivered to the Master Trust Trustee an officer’s certificate confirming the items set forth in clauses (i), (ii) and (iii) above. 

(c) Subject to the satisfaction of the conditions set forth in Section 2.10(b), from and after the Removal
Commencement Date with respect to such Removed Dealer(s), the Seller shall not transfer Dealer Notes with respect to such Removed Dealers to the Master Trust. On any Business Day on or after the Removal Commencement Date, the Seller may remove from
the Master Trust all of the Dealer Notes issued by such Removed Dealer(s) by either transferring cash and/or Dealer Notes to the Master Trust, and/or reducing the Master Trust Seller’s Interest (but in no event to an amount below the Minimum
Master Trust Seller’s Interest after giving effect to any the transfer of any cash or Dealer Notes to the Master Trust on such date), so that the total amount of transferred cash and/or Dealer Notes and reduction in the Master Trust
Seller’s Interest is equal to the Removal Balance related to such Dealer Notes as of the date of removal. All amounts so allocated to Dealer Notes owned by the Master Trust or paid to the Master Trust for the removed Dealer Notes shall
constitute Principal Collections and shall reduce the Removal Balance. The Removal Balance shall also be reduced to the extent Dealer Notes issued by such Dealer(s) and held by the Master Trust on the Removal Commencement Date shall be written off
as uncollectible. 
 (d) After the Removal Balance with respect to any such Dealer Notes is reduced to zero (the
“Removal Date”), all of the Master Trust’s right, title and interest in, to and under such Dealer Notes and the related collateral shall be deemed to be transferred and released by the Master Trust to the Seller without
recourse, representation or warranty.” 
  

	 	(c)	Section 2.11 shall be added to Article II in proper numerical order to read as follows: 

“Section 2.11 Removal of Dealer Notes of Ineligible Dealers. 

(a) From and after the date on which a Dealer becomes an Ineligible Dealer, the Seller shall not transfer Dealer Notes
issued by such Ineligible Dealer to the Master Trust (such date being deemed the Removal Commencement Date for such Dealer). Not later than the tenth Business Day after the last day of the calendar month in which a Dealer becomes an Ineligible
Dealer, the Seller (or the Servicer on its behalf) shall furnish a Removal Notice to the Master Trust Trustee identifying each such Ineligible Dealer, the Removal Commencement Date for each such Ineligible Dealer and specifying for each such
Ineligible Dealer as of the Removal Commencement Date the Removal Balance. 
  

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 (b) On any Business Day on or after a Dealer becomes an Ineligible Dealer,
upon prior written notice to the Master Trust Trustee and the Rating Agencies, the Seller shall have the right to remove all of the Dealer Notes issued by such Ineligible Dealer held by the Master Trust by either transferring cash and/or Dealer
Notes to the Master Trust, and/or reducing the Master Trust Seller’s Interest (but in no event to an amount below the Minimum Master Trust Seller’s Interest after giving effect to any the transfer of any cash or Dealer Notes to the Master
Trust on such date), so that the total amount of transferred cash and/or Dealer Notes and reduction in the Master Trust Seller’s Interest is equal to the Removal Balance related to such Dealer Notes as of the date of removal. All amounts so
allocated to Dealer Notes owned by the Master Trust or paid to the Master Trust for the removed Dealer Notes shall constitute Principal Collections and shall reduce the Removal Balance. After the Removal Date with respect to any such Ineligible
Dealer, all of the Master Trust’s right, title and interest in, to and under the Dealer Notes issued by such Ineligible Dealer and the related collateral shall be deemed to be transferred and released by the Master Trust to the Seller without
recourse, representation or warranty.” 
  

	 	(d)	Section 2.12 shall be added to Article II in proper numerical order to read as follows: 

“Section 2.12 Sale of Defaulted Dealer Notes. The Servicer may, in its discretion and without the consent of
any other Person, sell, transfer, convey or otherwise assign to any Person on behalf of the Master Trust any Defaulted Dealer Notes in order to, in the reasonable determination of the Servicer, maximize the proceeds with respect to such Dealer Notes
for the benefit of the Master Trust, which proceeds shall be treated as Dealer Note Collections and shall be allocated in accordance with Section 4.03.” 

3. Effectiveness. This Amendment shall become effective on the date first written above upon receipt by Navistar Financial of a signature page by
each of the signatories hereto. 
 4. Miscellaneous. This Amendment shall be construed in accordance with the internal laws of the State
of Illinois, without reference to its conflict of law provisions, except that the obligations, rights and remedies of the Master Trust Trustee shall be determined in accordance with the internal laws of the State of New York, without regard to
conflict of law provisions. 
  

 5 

 This Amendment may be executed in two or more counterparts, each of which shall be an original, but all of
which together constitute one and the same instrument. The provisions of this Amendment shall be deemed to be incorporated in, and made a part of, the Pooling and Servicing Agreement; and the Pooling and Servicing Agreement, as amended by this
Amendment, shall be read, taken and construed as one and the same instrument. Promptly after the execution of this Amendment the Master Trust Trustee shall furnish written notification of the substance of this Amendment to each Investor
Certificateholder. 
 *    *    *    *    *

  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 9 to the Pooling
and Servicing Agreement to be duly executed by their respective officers as of the date first written above. 
  

			
	 NAVISTAR FINANCIAL SECURITIES CORPORATION,

as Seller and Series 2004-1 Certificateholder

		
	By:	 	 /s/ William V. McMenamin

	Name:	 	William V. McMenamin
	Title:	 	Vice President, Chief Financial Officer
		 	and Treasurer
	
	 NAVISTAR FINANCIAL CORPORATION,

as Servicer

		
	By:	 	 /s/ William V. McMenamin

	Name:	 	William V. McMenamin
	Title:	 	Vice President, Chief Financial Officer
		 	and Treasurer
	
	 THE BANK OF NEW YORK MELLON,

as Master Trust Trustee

		
	By:	 	 /s/ Michael Burack

	Name:	 	Michael Burack
	Title:	 	Senior Associate

 The undersigned hereby consent to the execution of this Amendment No. 9 to the Pooling and Servicing
Agreement 
  

			
	 BANK OF AMERICA, NATIONAL ASSOCIATION,

as Administrative Agent

		
	By:	 	 /s/ J. Matthew Zimmerman

	Name:	 	J. Matthew Zimmerman
	Title:	 	Vice President
	
	 KITTY HAWK FUNDING CORPORATION,

as a Conduit Purchaser for the KHFC Purchaser Group

		
	By:	 	 /s/ Michael R. Newell

	Name:	 	Michael R. Newell
	Title:	 	Vice President
	
	BANK OF AMERICA, NATIONAL ASSOCIATION, as a Committed Purchaser and Managing Agent for the KHFC Purchaser Group
		
	By:	 	 /s/ J. Matthew Zimmerman

	Name:	 	J. Matthew Zimmerman
	Title:	 	Vice President

  

 8 

			
	 THE BANK OF NOVA SCOTIA,

as a Committed Purchaser and Managing Agent for the Liberty Street Purchaser Group

		
	By:	 	 /s/ Norman Last

	Name:	 	Norman Last
	Title:	 	Managing Director
	
	 LIBERTY STREET FUNDING LLC,

as a Conduit Purchaser for the Liberty Street Purchaser Group

		
	By:	 	 /s/ Jill A. Russo

	Name:	 	Jill A. Russo
	Title:	 	Vice President

  

 9

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