Document:

EX-10.30

 Exhibit 10.30 

 
 

 
 Award Agreement – Restricted Stock Units 

[Date] 
 Dear [First Name Last Name (legal
name)]: 
 WageWorks’ Compensation Committee has granted you the right to receive an award of Restricted Stock Units (the
“Award”) pursuant to WageWorks’ 2010 Equity Incentive Plan (the “Plan”). 
 This Award Agreement – Restricted
Stock Units, including the Terms and Conditions of Restricted Stock Unit Award attached hereto as Exhibit A (the “Agreement”) includes the following summary of certain terms of your Award. If there is any discrepancy between this
Agreement and the Plan, the Plan shall control. All terms and conditions not defined herein shall have the same meaning as defined in the Plan. Notwithstanding anything herein, if your written employment or service agreement with the Company (or the
Parent or Subsidiary employing or retaining you) provides for more favorable vesting or exercise terms, the more favorable terms shall control. 
  

			
	Participant:	  	[(legal name)]
		
	Date of Award:	  	[Date of CC meeting/Established by BOD]
		
	Type of Award:	  	Restricted Stock Units (RSUs)
		
	Number of Restricted Stock Units:	  	[# of RSUs]
		
	 Effective Date

(Vesting Commencement Date):
	  	[Date as outlined in the Equity Grant Process]
		
	Vesting & Exercisability:	  	 [Twenty-five percent (25%) of the Restricted Stock Units shall vest on the first anniversary of the Effective Date, and an additional
1/48th of the Restricted Stock Units shall vest on each of the thirty-six (36) succeeding monthly anniversaries of the Effective Date. In no event shall any additional Restricted Stock Units vest after Participant’s termination as a Service
Provider.]
  
 In the event Participant ceases to be a Service Provider for
any or no reason before Participant vests in the Restricted Stock Units, the Restricted Stock Units and Participant’s right to acquire any Shares hereunder will immediately terminate.

 This Agreement must be signed, dated and returned to Human Resources by [DATE]. 

Human Resources will provide you with a fully executed copy of this Agreement for your records. For general questions regarding this Agreement, please
contact Human Resources. For financial questions, Participants are encouraged to consult with an independent financial advisor. 
 By executing
this Agreement, you and the Company hereby agree that this Award is granted under and governed by the terms and conditions of the Plan, a copy of which is enclosed herewith and made a part of this Agreement. 

 

									
	WageWorks, Inc.:	 	  
	 		 	Date:	 	  

					
	Participant:	 	  
	 		 	Date:	 	  

 EXHIBIT A 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT AWARD 
 1. Grant. The Company hereby grants to the individual named in the Award Agreement – Restricted Stock Units (the “Participant”) under the Plan an Award of Restricted Stock Units,
subject to all of the terms and conditions in this Agreement and the Plan, which is incorporated herein by reference. Subject to Section 18(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms
and conditions of this Agreement, the terms and conditions of the Plan will prevail. 
 2. Company’s Obligation to
Pay. Each Restricted Stock Unit represents the right to receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested in the manner set forth in Sections 3 or 4, Participant will have no right to payment
of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. Any
Restricted Stock Units that vest in accordance with Sections 3 or 4 will be paid to Participant (or in the event of Participant’s death, to his or her estate) in whole Shares, subject to Participant satisfying any applicable tax withholding
obligations as set forth in Section 7. Subject to the provisions of Section 4, such vested Restricted Stock Units shall be paid in whole Shares as soon as practicable after vesting, but in each such case within the period sixty
(60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to specify the taxable year of the payment of any Restricted Stock Units payable under this Agreement. 

3. Vesting Schedule. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by
this Agreement will vest in accordance with the vesting provisions set forth in the Award Agreement – Restricted Stock Units. Restricted Stock Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest
in Participant in accordance with any of the provisions of this Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. 

4. Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser
portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the Administrator. The
payment of Shares vesting pursuant to this Section 4 shall in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A. 
 Notwithstanding anything in the Plan or this Agreement to the contrary, if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in connection
with Participant’s termination as a Service Provider (provided that such termination is a “separation from service” within the meaning of Section 409A, as determined by the Company), other than due to death, and if
(x) Participant is a “specified employee” within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the

 
imposition of additional tax under Section 409A if paid to Participant on or within the six (6) month period following Participant’s termination as a Service Provider, then the
payment of such accelerated Restricted Stock Units will not be made until the date six (6) months and one (1) day following the date of Participant’s termination as a Service Provider, unless the Participant dies following his or her
termination as a Service Provider, in which case, the Restricted Stock Units will be paid in Shares to the Participant’s estate as soon as practicable following his or her death. It is the intent of this Agreement that it and all payments and
benefits hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock Units provided under this Agreement or Shares issuable thereunder will be subject to the additional tax imposed under
Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).
For purposes of this Agreement, “Section 409A” means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may be amended from time to time. 

5. Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any contrary provision of this Agreement, the
balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

 6. Death of Participant. Any distribution or delivery to be made to Participant under this Agreement will, if
Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company with
(a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 

7. Withholding of Taxes. Notwithstanding any contrary provision of this Agreement, no certificate representing the Shares will be
issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment of income, employment, social insurance, payroll and other taxes which the Company
determines must be withheld with respect to such Shares. Prior to vesting and/or settlement of the Restricted Stock Units, Participant will pay or make adequate arrangements satisfactory to the Company and/or the Participant’s employer (the
“Employer”) to satisfy all withholding and payment obligations of the Company and/or the Employer. In this regard, Participant authorizes the Company and/or the Employer to withhold all applicable tax withholding obligations legally
payable by Participant from his or her wages or other cash compensation paid to Participant by the Company and/or the Employer or from proceeds of the sale of Shares. Alternatively, or in addition, if permissible under applicable local law, the
Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit or require Participant to satisfy such tax withholding obligation, in whole or in part (without limitation) by (a) paying
cash, (b) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to be withheld, (c) delivering to the Company already vested and owned Shares having a Fair Market
Value equal to the amount required to be withheld, or (d) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company may 

  
 -2-

 
determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. To the extent determined appropriate by the Company in its discretion, it
will have the right (but not the obligation) to satisfy any tax withholding obligations by reducing the number of Shares otherwise deliverable to Participant. If Participant fails to make satisfactory arrangements for the payment of any required tax
withholding obligations hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4 or tax withholding obligations related to Restricted Stock Units otherwise are due, Participant will
permanently forfeit such Restricted Stock Units and any right to receive Shares thereunder and the Restricted Stock Units will be returned to the Company at no cost to the Company. 

8. Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or
privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and
delivered to Participant. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 

9. No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT
TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OF
RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE
OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING
PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
 10.
Address for Notices. Any notice to be given to the Company under the terms of this Agreement will be addressed to the Company at WageWorks, Inc., 1100 Park Place, Suite 400, San Mateo, California 94403, or at such other address as the Company
may hereafter designate in writing. 
 11. Grant is Not Transferable. Except to the limited extent provided in
Section 6, this grant and the rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or
similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and
the rights and privileges conferred hereby immediately will become null and void. 

  
 -3-

 12. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 
 13. Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing, registration, qualification or rule compliance of the Shares upon any
securities exchange or under any state, federal or foreign law, the tax code and related regulations or the consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to
Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance, consent or approval will have been completed, effected or obtained free of any conditions not
acceptable to the Company. Where the Company determines that the delivery of the payment of any Shares will violate federal securities laws or other applicable laws, the Company will defer delivery until the earliest date at which the Company
reasonably anticipates that the delivery of Shares will no longer cause such violation. The Company will make all reasonable efforts to meet the requirements of any such state, federal or foreign law or securities exchange and to obtain any such
consent or approval of any such governmental authority or securities exchange. 
 14. Plan Governs. This Agreement is
subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not defined in
this Agreement will have the meaning set forth in the Plan. 
 15. Administrator Authority. The Administrator will have
the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the
determination of whether or not any Restricted Stock Units have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 

16. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Restricted Stock
Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such
documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another third party designated by the Company. 

17. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction
of this Agreement. 
 18. Agreement Severable. In the event that any provision in this Agreement will be

  
 -4-

 
held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement. 
 19. Modifications to the Agreement. This Agreement constitutes the entire understanding of the parties on
the subjects covered. Participant expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Agreement or the Plan can be
made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Agreement, the Company reserves the right to revise this Agreement as it deems necessary or
advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection to this Award of Restricted
Stock Units. 
 20. Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly
warrants that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended
or terminated by the Company at any time. 
 21. Governing Law. This Agreement will be governed by the laws of California
without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Award of Restricted Stock Units or this Agreement, the parties hereby submit to and consent to the jurisdiction of the
State of California, and agree that such litigation will be conducted in the courts of San Mateo County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this Award of
Restricted Stock Units is made and/or to be performed. 

  
 -5-EX-10.6

 Exhibit 10.6 
 INSYS THERAPEUTICS, INC. 

EMPLOYMENT AGREEMENT 
 This Employment Agreement (“Agreement”) is entered into as of the 29th day of April, 2011 (the “Effective Date”), by and between Michael Babich
(“Executive”) and Insys Therapeutics, Inc. (the “Company”). 

RECITALS 
 A. Executive has been serving as an executive officer of the Company since on or about November 2010. The Company desires assurance of the association and services of Executive in order to retain
Executive’s experience, skills, abilities, background and knowledge, and is willing to engage Executive’s services on the terms and conditions set forth in this Agreement. 

B. Executive desires to be in the employ of the Company, and is willing to accept such employment on the terms and conditions set
forth in this Agreement. 
 C. This Agreement supersedes any and all prior and contemporaneous oral or written employment
agreements or arrangements between Executive and the Company or its subsidiaries. 

AGREEMENT 
 In consideration of the foregoing Recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the parties agree as follows: 

1. EMPLOYMENT BY THE COMPANY. 

1.1 Position. Subject to the terms set forth herein, the Company hereby employs Executive in the position of President and
Chief Executive Officer and Executive hereby accepts such employment. During Executive’s employment by the Company, Executive shall devote Executive’s full business energies, interest, abilities and productive time to the proper and
efficient performance of Executive’s duties under this Agreement. 
 1.2 Duties and Location. Executive shall
do and perform all services, acts or things necessary or advisable to manage and conduct the business of the Company and that are normally associated with the position of President and Chief Executive Officer. Executive shall report to the
Company’s Board of Directors (the “Board”). Executive shall work at the Company’s facility in Phoenix, Arizona, provided that the Company may from time to time require Executive to travel temporarily to other
locations in connection with the Company’s business. 
 1.3 Policies and Procedures. The employment
relationship between the parties shall be governed by this Agreement and by the policies and practices established by the Company and/or the Board. In the event that the terms of this Agreement differ from or are in conflict with the Company’s
policies or practices, this Agreement shall control. 
 1.4 Exclusive Employment. Except with the prior written
consent of the Board, Executive will not during employment with the Company undertake or engage in any other employment, occupation or business enterprise, other than ones in which Executive is a passive investor. 

  
 1 

 1.5 Agreement not to Participate in Company’s Competitors. During
Executive’s employment with the Company, Executive agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by Executive to be adverse or antagonistic to the Company, its business, or
prospects, financial or otherwise, or in any company, person, or entity that is, directly or indirectly, in competition with the business of the Company or any of its Affiliates (as defined below). Ownership by Executive, in professionally managed
funds over which the Executive does not have control or discretion in investment decisions, or as a passive investment, of less than two percent (2%) of the outstanding shares of capital stock of any corporation with one or more classes of its
capital stock listed on a national securities exchange or publicly traded on a national securities exchange or in the over-the-counter market shall not constitute a breach of this Section. For purposes of this Agreement,
“Affiliate,” means, with respect to any specific entity, any other entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified entity.

 1.6 Covenant not to Compete. During the term of this Agreement and for a period of one (1) year
thereafter, Executive shall not engage in competition with the Company and/or any of its Affiliates, either directly or indirectly, in any manner or capacity, in any phase of the business of developing, manufacturing and marketing of
(a) products incorporating tetrahydrocannabinol (THC) or derivatives or synthetic versions thereof, (b) spray technologies for use in drug delivery of pain medication, or (c) any new molecules which were in development at the time of
departure, except with the prior written consent of the Board. 
 2. AT-WILL
EMPLOYMENT. 
 Executive’s employment relationship with the Company is, and shall all times remain, at
will. This means that either Executive or the Company may terminate the employment relationship at any time, for any reason or for no reason, with or without cause or advance notice. 

3. COMPENSATION AND BENEFITS. 

3.1 Salary. The Company shall pay Executive a base salary at the annualized rate of Three Hundred and Sixty Five Thousand
Dollars ($365,000.00) (the “Base Salary”), less payroll deductions and all required withholdings, payable in regular periodic payments in accordance with the Company’s normal payroll practices. The Base Salary shall be
prorated for any partial year of employment on the basis of a 365-day fiscal year. The Base Salary may be adjusted from time to time in the Company’s discretion. 
 3.2 Performance Bonus. For the year 2011, Executive will be eligible to receive an additional cash bonus of up to 80% of his Base Salary (the “Bonus”) subject to
standard payroll deductions and applicable tax withholdings, based on Executive’s overall performance as determined by the Board and/or the compensation committee of the Board (the “Compensation Committee”), including by
reference to the attainment of milestones which may be established following the Effective Date by the Board and/or the Compensation Committee. In order to earn and receive the Bonus, Executive must remain employed by the Company as an employee in
good standing through the end of the calendar year and the payout date for the Bonus (the “Bonus Payout Date”), is to be paid no later than the end of the first quarter of 2012. The determination of whether Executive has met
any milestones, and the bonus amount (if any) that will be paid, shall be determined by the Board and/or the Compensation Committee in its sole and absolute discretion. 

  
 2 

 3.3 Standard Company Benefits. Executive shall, in accordance with Company
policy and the terms of the applicable plan documents, be eligible to participate in benefits under any benefit plan or arrangement that may be in effect from time to time and made available to the Company’s employees. 

3.4 Expense Reimbursements. The Company will reimburse Executive for all reasonable business expenses Executive incurs in
conducting his duties hereunder, pursuant to the Company’s usual expense reimbursement policies. 
 4.
PROPRIETARY INFORMATION OBLIGATIONS. 
 As a condition of employment
Executive agrees to execute and abide by the Company’s Proprietary Information and Inventions Agreement (“PIIA”). Executive acknowledges and agrees that his obligations under the PIIA are retroactively effective to and
including his first day of employment with the Company. 
 5. COMPENSATION UPON
TERMINATION. 
 5.1 Termination Without Cause or Resignation For Good Reason. If the Company
terminates Executive’s employment without Cause (as defined below), or if Executive resigns his employment for Good Reason (as defined below), then the Company shall pay Executive any base salary and accrued and unused vacation benefits earned
through the date of termination, at the rate in effect at the time of termination, less standard deductions and withholdings. In addition, if Executive furnishes to the Company an executed waiver and release of claims in a form to be provided by the
Company (the “Release”) within the time period specified therein, but in no event later than forty-five (45) days following Executive’s termination, and if Executive allows such Release to become effective in
accordance with its terms, then Executive shall be entitled to: (1) severance in the form of continuation of Executive’s salary (at the Base Salary rate in effect at the time of termination) for a period of twelve (12) months
following the termination date; (2) an additional severance payment equal to Executive’s target bonus for the year in which the qualifying termination or resignation is effective, pro rated for the number of days Executive was employed by
the Company in such year; and (3) accelerated vesting of any unvested shares subject to any outstanding stock options and/or other equity awards, such that, on the effective date of the Release, the Executive shall be vested in one hundred
percent (100%) of the shares subject to such options and/or awards. The severance payments will be subject to standard payroll deductions and withholdings and will be made on the Company’s regular payroll cycle, provided, however, that any
payments otherwise scheduled to be made prior to the effective date of the Release shall accrue and be paid in a lump sum on the first payroll period that follows such effective date. 

5.2 Termination Other Than Without Cause or Resignation Other Than For Good
Reason. If Executive’s employment with the Company ends for any reason or in any circumstance other than those specified in Section 5.1 above, including but not limited to a termination by the Company for Cause or a resignation
by Executive without Good Reason, the Company shall pay Executive any base salary and accrued and unused vacation benefits earned through the date of termination, at the rate in effect at the time of termination, less standard deductions and
withholdings. The Company shall thereafter have no further obligations to Executive under this Agreement, except as otherwise provided by law. 

  
 3 

 6. DEFINITIONS. 

For purposes of this Agreement, the following terms shall have the following meanings: 

6.1 Cause. “Cause” shall mean the occurrence of any of the following, as determined by the
Board: (i) Executive’s conviction of any felony or any crime involving fraud or dishonesty; (ii) Executive’s participation (whether by affirmative act or omission) in a fraud, act of dishonesty or other act of misconduct against
the Company and/or its affiliates; (iii) conduct by Executive which, based upon a good faith and reasonable factual investigation by the Board, demonstrates Executive’s gross unfitness to serve; (iv) Executive’s violation of any
statutory or fiduciary duty, or duty of loyalty, owed to the Company; (v) Executive’s breach of any material term of any material contract between such Executive and the Company; (vi) Executive’s repeated violation of any
material Company policy; and/or (vii) Executive’s repeated failure to adequately perform his job duties. Whether a termination is for Cause shall be decided by the Board in its sole and exclusive judgment and discretion. 

6.2 Good Reason. “Good Reason” for Executive to terminate his employment hereunder shall mean the
occurrence of any of the following events without Executive’s consent: (i) a material reduction by the Company of Executive’s Base Salary as initially set forth herein or as the same may be increased from time to time, provided,
however, that if such reduction occurs in connection with a Company-wide decrease in Executive compensation, such reduction shall not constitute Good Reason for Executive to terminate his employment; (ii) a material breach of this Agreement by
the Company; or (iii) a material reduction that amounts to an adverse change in Executive’s duties, authority, or responsibilities relative to Executive’s duties, authority, or responsibilities in effect immediately prior to such
reduction. 
 Provided, however, that, any such termination by Executive shall only be deemed for Good Reason pursuant to this
definition if: (1) Executive gives the Company written notice of his intent to terminate for Good Reason within thirty (30) days following the first occurrence of the condition(s) that he believes constitute(s) Good Reason, which notice
shall describe such condition(s); (2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”); and (3) Executive voluntarily terminates
his employment within thirty (30) days following the end of the Cure Period. 
 7. GENERAL
PROVISIONS. 
 7.1 Representations and Warranties. Executive represents and warrants that
Executive is not restricted or prohibited, contractually or otherwise, from entering into and performing each of the terms and covenants contained in this Agreement, and that Executive’s execution and performance of this Agreement will not
violate or breach any other agreements between the Executive and any other person or entity. 
 7.2 Survival.
Sections 4, 5, 6 and 7 of this Agreement will survive the termination of this Agreement. 
 7.3 Miscellaneous.
This Agreement, along with the PIIA, constitutes the complete, final and exclusive embodiment of the entire agreement between Executive and the Company with regard to its subject matter. It is entered into without reliance on any promise or
representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both Executive and a
duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and assigns of both Executive and the Company, and inure to the benefit of both Executive and the Company, and

  
 4 

 
to his and its heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other
provision of this Agreement and the provision in question will be modified so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of
Arizona as applied to contracts made and to be performed entirely within Arizona. Any ambiguity in this Agreement shall not be construed against either party as the drafter. Any waiver of a breach of this Agreement shall be in writing and
shall not be deemed to be a waiver of any successive breach. This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures. 
 7.4 Section 409A. The severance benefits and other payments payable under this Agreement are intended to qualify for an exemption from application of Section 409A or comply with
its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted accordingly. Notwithstanding anything to the contrary herein, the following provisions apply
to the extent benefits provided herein are subject to Section 409A of the Code and any state law of similar effect (collectively “Section 409A”). Severance benefits shall not commence until Executive has a
“separation from service” for purposes of Section 409A. Each installment of severance benefits is a separate “payment” for purposes of Treas. Reg. Section 1.409A-2(b)(2)(i), and the severance benefits are intended to
satisfy the exemptions from 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). However, if such exemptions are not available and Executive is, upon separation from
service, a “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal tax consequences under Section 409A, the timing of the severance benefits payments shall be delayed
until the earlier of (i) six (6) months and one day after Executive’s separation from service, or (ii) Executive’s death. 
 Executive shall receive severance benefits only if Executive executes and returns to the Company, within the applicable time period set forth therein but in no event more than forty-five (45) days
following the date of separation from service, the Release, and permits such Release to become effective in accordance with its terms (such latest permitted date, the “Release Deadline Date”). If the severance
benefits are not covered by one or more exemptions from the application of Section 409A and the Release could become effective in the calendar year following the calendar year in which Executive separates from service, the Release will not be
deemed effective any earlier than the Release Deadline Date. None of the severance benefits will be paid or otherwise delivered prior to the effective date of the Release. Except to the minimum extent that payments must be delayed because Executive
is a “specified employee” or until the effectiveness of the Release, all amounts will be paid as soon as practicable in accordance with the Company’s normal payroll practices. 

  
 5 

 IN WITNESS WHEREOF, the
parties have executed this Agreement as of the day and year first written above. 
  

			
	INSYS THERAPEUTICS, INC.
		
	 By:
	 	 /s/ Martin McCarthy

	 Name:
	 	Martin McCarthy
	 Title:
	 	Chief Financial Officer

  

	
	 Accepted and agreed:

	
	 /s/ Michael Babich

Michael Babich

  
 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]