Document:

EX-10.2

SEVERANCE AGREEMENT

THIS SEVERANCE AGREEMENT (this “Agreement”) is dated as of July 21, 2010 (the
“Effective Date”), by and between EpiCept Corporation, a Delaware corporation (together
with its successors and assigns, the “Company”), and        (the
“Executive”).

WHEREAS, the Executive is a senior executive of the Company and is expected to make major
contributions to the profitability, growth and financial strength of the Company;

WHEREAS, the Company desires to provide additional inducement for the Executive to remain in
the ongoing employ of the Company; and

WHEREAS, the Company desires to assure itself of both present and future continuity of
management and desires to establish certain minimum severance benefits for certain of its senior
executives, including the Executive, applicable in the event of a termination of the Executive’s
employment in certain circumstances.

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for
other good and valuable consideration, the receipt of which is mutually acknowledged, the Company
and the Executive (collectively, the “Parties”) agree as follows:

1. Definitions. Capitalized terms not otherwise defined herein shall have the
meanings set forth in Exhibit A.

2. Term. The “Term”, when used in this Agreement, shall mean the period
commencing as of the Effective Date and ending on December 31, 2011; provided,
however, that the Term shall thereafter be automatically extended for unlimited additional
one-year periods unless, at least three (3) months prior to the then-scheduled date of expiration
of the Term, either (x) the Company gives notice to the Executive that it is electing not to so
extend the Term or (y) the Executive gives notice to the Company that he is electing not to so
extend the Term. Notwithstanding the foregoing, (a) upon the occurrence of a Change in Control,
the Term shall automatically be extended for one additional year from the date of the Change in
Control; provided, however, that if the Change in Control occurs after September 30 of a given year
and the Company has not delivered timely notice of non-extension, the Term shall still end on the
December 31 of the following year, as if the Change in Control had not occurred, and (b) the Term
may be earlier terminated in strict accordance with the provisions of Section 3.

3. Termination of Employment.

(a) Termination Without Cause. In the event that the Executive’s employment with the
Company is terminated by the Company during the Term other than (x) due to death;
(y) for Disability; or (z) for Cause, the Executive shall be entitled to:

(i) an amount, payable in a lump sum promptly following the Termination Date (but in no event
later than the first regularly scheduled payroll date following the Termination Date), equal to (x)
three quarters (.75) times (y) his Base Salary; provided, however, that in the case
of a termination resulting from the expiration of the Term pursuant to the notice of non-extension
from the Company in accordance with Section 2, the amount shall equal one half (.5) times his Base
Salary;

(ii) continued participation, for 9 months immediately following the Termination Date, in all
employee welfare benefit plans, programs and arrangements, on terms and conditions that are no less
favorable to him than those applied immediately prior to the Termination Date, and with COBRA
benefits commencing thereafter; provided, however, that in the case of a termination due to
expiration of the Term pursuant to notice of non-extension from the Company, the continuation
period shall be 6 months rather than 9 months; and

(iii) the benefits described in Section 3(d)(i).

(b) Constructive Termination Without Cause. In the event that a Constructive
Termination Without Cause occurs, the Executive shall have the same entitlements as provided under
Section 3(a) in the case of a termination without Cause.

(c) Change in Control. In the event that the Executive’s employment with the Company
is terminated during the Term and within six months prior to, or within one year and a day
following, a Change in Control and (I) such termination is governed by Section 3(a) (relating to
terminations without Cause) or (II) such termination is a Constructive Termination without Cause
that is based on events that occurred within six months prior to, or within one year following, a
Change in Control, then the Executive shall, in lieu of the benefits described in Section 3(a), be
entitled to:

(i) an amount, payable in a lump sum promptly following the Termination Date (but in no event
later than the first regularly scheduled payroll date following the Termination Date), equal to the
sum of (x) his Base Salary and (y) the greater of (A) the Executive’s Target for the year in which
the termination occurs and (B) the annual incentive award awarded to the Executive for the most
recently completed calendar year;

(ii) have each outstanding Stock Option (including both time-vesting and performance-vesting
awards) become fully vested and exercisable as of the Termination Date and remain exercisable
through the first anniversary of the Termination Date, but in no event beyond its maximum stated
term;

(iii) have each other equity-based award (including both time-vesting and performance-vesting
awards) become fully vested, and non-forfeitable, as of the Termination Date; and

(iv) continued participation, for 12 months immediately following the Termination Date, in all
employee welfare benefit plans, programs and arrangements, in which the Executive was participating
immediately prior to the Termination Date, on terms and conditions that are no less favorable to
him than those applied immediately prior to the Termination Date, and with COBRA benefits
commencing thereafter.

(d) Miscellaneous.

(i) On any termination of the Executive’s employment, he shall be entitled to:

(A) Base Salary through the Termination Date;

(B) the balance of any annual, long-term, or other incentive award earned in respect to any
period ending on or prior to the Termination Date, or payable (but not yet paid) on or prior to the
Termination Date;

(C) a lump-sum payment in respect of accrued but unused vacation days at his Base Salary rate
in effect as of the Termination Date; provided that no payment shall be made in respect of
more than forty (40) accrued but unused vacation days;

(D) other or additional benefits in accordance with the terms of the applicable plans,
programs and arrangements of the Company and its Affiliates (including, without limitation, any
equity award agreement); and

(E) payment, promptly when due, of all amounts due in connection with the termination.

(ii) In the event of any termination of his employment with the Company, the Executive shall
be under no obligation to seek other employment or otherwise mitigate the obligations of the
Company under this Agreement or otherwise, and there shall be no offset against amounts or benefits
due to the Executive under this Agreement or otherwise on account of any remuneration or other
benefit earned or received by the Executive after such termination. Any amounts due under this
Section 3 are considered to be reasonable by the Company and are not in the nature of a penalty.

4. Section 280G.

(a) If (i) the aggregate of all amounts and benefits due to the Executive, under this
Agreement or under any other plan, program, agreement or arrangement of the Company or of any of
its Affiliates, would, if received by the Executive in full and valued under Section 280G of the
Code, constitute “parachute payments” as such term is defined in and under Section 280G of the Code
(collectively, “280G Benefits”), and if (ii) such aggregate would, if reduced by all
federal, state and local taxes applicable thereto, including the excise tax imposed pursuant to
Section 4999 of the Code, be less than the amount the Executive would receive, after all taxes, if
the Executive received aggregate 280G Benefits equal (as valued under Section 280G of the Code) to
only three (3) times the Executive’s “base amount,” as defined in and under Section 280G of the
Code, less $1.00, then (iii) the cash 280G Benefits (other than cash benefits relating to the
acceleration of equity awards) that do not constitute “deferred compensation” for purposes of
Section 409A of the Code shall (to the extent that the reduction of cash 280G Benefits (other than
cash benefits relating to the acceleration of equity awards) can achieve the intended result) be
reduced, pro rata, or eliminated, to the extent necessary so that the 280G Benefits received by the
Executive will not constitute parachute payments; and (iv) if elimination of the cash 280G
Benefits (other than cash benefits relating to the acceleration of equity awards) that do not
constitute such “deferred compensation” is insufficient to achieve the intended result, then the
remaining cash 280G Benefits (other than cash benefits relating to the acceleration of equity
awards) shall (to the extent that reduction of all cash 280G Benefits (other than cash benefits
relating to the acceleration of equity awards) can achieve the intended result) be reduced (on such
pro rata or other basis as complies with Section 409A) or eliminated to the extent necessary so
that the 280G Benefits received by the Executive will not constitute parachute payments. The
determinations with respect to this Section 4(a) shall be made by an independent auditor (the
“Auditor”) paid by the Company. The Auditor shall be the Company’s regular independent
auditor unless the Executive reasonably objects to the use of that firm, in which event the Auditor
will be a nationally recognized United States public accounting firm chosen by the Parties.

(b) It is possible that after the determinations and selections made pursuant to Section 4(a)
the Executive will receive 280G Benefits that are, in the aggregate, either more or less than the
amount provided under Section 4(a) (hereafter referred to as an “Excess Payment” or
“Underpayment”, respectively). If it is established, pursuant to a final determination of
a court or an Internal Revenue Service proceeding that has been finally and conclusively resolved,
that an Excess Payment has been made, then the Executive shall promptly repay the Excess Payment to
the Company, together with interest on the Excess Payment at the applicable federal rate (as
defined in and under Section 1274(d) of the Code) from the date of the Executive’s receipt of such
Excess Payment until the date of such repayment. In the event that it is determined (i) by
arbitration pursuant to Section 7, (ii) by a court or (iii) by the Auditor upon request by any of
the Parties, that an Underpayment has occurred, the Company shall promptly pay an amount equal to
the Underpayment to the Executive (but in any event within 10 days of such determination), together
with interest on such amount at the applicable federal rate from the date such amount would have
been paid to the Executive had the provisions of Section 4(a) not been applied until the date of
payment.

5. Restrictive Covenants.

(a) During the Term and at all times thereafter, the Executive shall not, without the prior
written consent of the Company, divulge, disclose or make accessible to any other Person any
Confidential Information except (i) to the Company and its Affiliates, or to any authorized (or
apparently authorized) agent or representative of any of them, (ii) in connection with performing
his duties for the Company, (iii) when required to do so by law or by a court, governmental agency,
legislative body, arbitrator or other Person with apparent jurisdiction to order him to divulge,
disclose or make accessible such information, (iv) in the course of any Proceeding under Section
5(c) or 7 or (v) in confidence to an attorney or other professional advisor for the purpose of
securing professional advice. In the event that the Executive is required to disclose any
Confidential Information pursuant to clause (iii) or (iv) of the immediately preceding sentence, he
shall (I) promptly give the Company notice that such disclosure is or may be made and (II)
cooperate with the Company, at its reasonable request and sole expense, in seeking to protect the
confidentiality of the Confidential Information.

(b) The Executive shall not, for his own benefit or the benefit of any other Person, without
the prior written consent of the Company and other than in connection with his employment with the
Company:

(i) during the Term and for twelve (12) months following any termination of the Executive’s
employment with the Company during the Term (such period, the “Restricted Period”), perform
material services for, or otherwise have material involvement with (whether as an officer,
director, partner, consultant, security holder, owner, employee, independent contractor or
otherwise), any Person that competes materially (whether directly or indirectly) with the Company
in any material business conducted by the Company during the Term (“Business”);
provided further that the Executive may in any event (x) own up to a five percent
(5%) passive ownership interest in any public or private entity and (y) be employed by, or
otherwise have material association with, any business that competes materially with the Company in
the Business if his employment or association does not involve competing with the Company in the
Business;

(ii) during the Restricted Period, personally solicit, aid in the solicitation of, induce or
otherwise encourage (whether directly or indirectly) any individual who is, at the time of such
encouragement, employed as an executive, highly-compensated employee or managerial/supervisory
employee of the Company, to cease such employment; or

(iii) during the Restricted Period, personally solicit, aid in the solicitation of, induce, or
otherwise encourage (whether directly or indirectly) any Person that was a customer of the Company
at any time during the Term for the purpose of (x) selling services or products to such Person in
competition with the Company in the Business or (y) inducing such Person to cancel, transfer or
cease doing Business in whole or in part with the Company.

(c) The Executive acknowledges and agrees that the Company’s Business and the services it
provides are highly competitive and that the restrictions contained in this Section 5 are
reasonable and necessary to protect the Company’s legitimate business interests. The Executive
further acknowledges that any actual or prospective breach may irreparably cause damage to the
Company for which money damages may not be adequate. Therefore, in the event of any actual or
threatened breach by the Executive of any of the provisions of Section 5(a) or 5(b) above, the
Company shall be entitled to seek, through arbitration in accordance with Section 7 or from any
court with jurisdiction over the matter and the Executive, temporary, preliminary and permanent
equitable/injunctive relief restraining the Executive from violating such provision and to seek, in
addition, but solely through arbitration in accordance with Section 7, money damages, together with
any and all other remedies available under applicable law.

6. Assignability; Binding Nature.

(a) This Agreement shall be binding upon and inure to the benefit of the Parties and their
respective successors, heirs (in the case of the Executive) and assigns.

(b) No rights or obligations of the Company under this Agreement may be assigned or
transferred by it except that such rights and obligations may be assigned or transferred pursuant
to a merger, consolidation or other combination in which the Company is not the continuing entity,
or a sale or liquidation of all or substantially all of the business and assets of the Company,
provided that the assignee or transferee is the successor to all or substantially all of
the business and assets of the Company and such assignee or transferee expressly assumes the
liabilities, obligations and duties of the Company as set forth in this Agreement. In the event of
any merger, consolidation, other combination, sale of business and assets, or liquidation as
described in the preceding sentence, the Company shall use its best reasonable efforts to cause
such assignee or transferee to promptly and expressly assume the liabilities, obligations and
duties of the Company hereunder.

(c) No rights or obligations of the Executive under this Agreement may be assigned or
transferred by the Executive other than his rights to compensation and benefits, which may be
transferred only by will or by operation of law, except to the extent otherwise provided in Section
10(e).

7. Resolution of Disputes. Any claim, demand, request, dispute or controversy arising
out of or relating to this Agreement, any other agreement between the Executive and the Company or
its Affiliates, the Executive’s employment with the Company or any termination thereof
(collectively, “Covered Claims”) shall (except to the extent otherwise provided in Section
5(c) with respect to certain requests for injunctive relief) be resolved by binding confidential
arbitration, to be held in the Borough of Manhattan in New York City, in accordance with the
Commercial Arbitration Rules of the American Arbitration Association then in effect and this
Section 7. Judgment upon the award rendered by the arbitrator(s) may be entered in any court
having jurisdiction thereof. Following the occurrence of a Change in Control, or any termination
of the Executive’s employment within 6 months prior to a Change in Control, the Executive shall be
entitled to prompt advancement of any and all costs and expenses (including without limitation
attorneys’ fees and other professional fees and charges) incurred by him in connection with any
such Covered Claim, or in connection with seeking to enforce his rights under this Section 7, any
such advancement to be made within 15 days after the Executive gives written notice, supported by
reasonable documentation, requesting such advancement; provided, however, that to
the extent that it is determined through arbitration that the Company substantially prevailed in
respect of a Covered Claim, the Executive shall promptly reimburse the Company for all costs and
expenses advanced to the Executive in respect of such Covered Claim. Pending the resolution of any
Covered Claim, the Executive (and his beneficiaries) shall continue to receive all payments and
benefits due under this Agreement or otherwise, except to the extent that the arbitrators otherwise
provide.

8. 409A Matters. Notwithstanding anything anywhere to the contrary, this Agreement is
intended to be interpreted and applied so that the payment of the benefits set forth herein either
shall either be exempt from the requirements of Section 409A of the Code or shall comply with the
requirements of such provision. Notwithstanding anything anywhere to the contrary, if the
Executive is a “specified employee” (within the meaning of Section 409A of the Code or any
regulations or guidance thereunder (“Section 409A”)), any payments or arrangements due upon
a termination of the Executive’s employment under any arrangement that constitutes a “deferral of
compensation” (within the meaning of Section 409A) and which do not otherwise qualify under the
exemptions under Treas. Regs. Section 1.409A, shall be delayed and paid or provided on the earlier
of (a) the date which is six months after the Executive’s “separation from service” (as such term
is defined in Section 409A) for any reason other than death, and (b) the date of the Executive’s
death. After the Termination Date, the Executive shall have no duties or responsibilities that are
inconsistent with having a “separation from service” as of such date for purposes of Section 409A.
Any amounts otherwise payable to the Executive following a termination of his employment that are
not so paid by reason of this Section 8 shall be paid as soon as practicable after, and in any
event within thirty (30) days after, the date that is six months after the Executive’s separation
from service (or, if earlier, the date of his death), together with interest on the delayed payment
at the Company’s cost of borrowing. Each payment under this Agreement or otherwise shall be
treated as a separate payment for purposes of Section 409A.

9. Notices. Any notice, consent, demand, request or other communication given to a
Person in connection with this Agreement shall be in writing and shall be deemed to have been given
to such Person (a) when delivered personally to such Person, or (b) provided that a written
acknowledgment of receipt is obtained, five (5) days after being sent by prepaid certified or
registered mail, or two (2) days after being sent by a nationally recognized overnight courier, to
the address (if any) specified below for such Person (or to such other address as such Person shall
have specified by ten (10) days’ advance notice given in accordance with this Section 9), or (c) in
the case of the Company only, on the first business day after it is sent by facsimile to the
facsimile number set forth below (or to such other facsimile number as shall have specified by ten
(10) days’ advance notice given in accordance with this Section 9), with a confirmatory copy sent
by certified or registered mail or by overnight courier in accordance with this Section 9.

	 	 	 
	If to the Company:
	 	EpiCept Corporation

777 Old Saw Mill River Road

Tarrytown, NY 10591

Attn: Chief Executive Officer

Fax #: (914) 606-3501

	With a copy to:
	 	Eilenberg & Krause LLP

11 East 44th Street, 19th Floor

New York, NY 10017

Attn: Adam Eilenberg, Esq.

Fax #: 212-986-2399

	 	 	 	If to the Executive: The address of his principal residence as it appears in the
Company’s records, with a copy to him (during the Term) at his principal office at the
Company.

	 	 	 
	If to a beneficiary

of the Executive:

	 	The address most recently specified by the Executive or

beneficiary.

10. Miscellaneous.

(a) Entire Agreement. This Agreement contains the entire understanding and agreement
among the Parties concerning the specific subject matter hereof.

(b) Amendment or Waiver. No provision in this Agreement may be amended unless such
amendment is set forth in a writing that expressly refers to the provision of this Agreement that
is being amended and that is signed by the Executive and by an authorized (or apparently
authorized) officer of the Company. No waiver by any Person of any breach of any condition or
provision contained in this Agreement shall be deemed a waiver of any similar or dissimilar
condition or provision at the same or any prior or subsequent time. To be effective, any waiver
must be set forth in a writing signed by the waiving Person and must specifically refer to the
condition(s) or provision(s) of this Agreement being waived.

(c) Conflicts. In the event of any conflict between any provision of this Agreement
and any provision of any other applicable plan, program, agreement or arrangement of the Company or
any of its Affiliates, the provisions of this Agreement shall control unless the Executive
otherwise agrees in a writing that expressly refers to the provision of this Agreement whose
control he is waiving.

(d) Headings. The headings of the Sections and sub-sections contained in this
Agreement are for convenience only and shall not be deemed to control or affect the meaning or
construction of any provision of this Agreement.

(e) Beneficiaries/References. The Executive shall be entitled, to the extent
permitted under applicable law, to select and change a beneficiary or beneficiaries to receive any
compensation or benefit hereunder following the Executive’s death by giving written notice thereof
to the Company. In the event of the Executive’s death or a judicial determination of his
incompetence, references in this Agreement to the Executive shall be deemed, where appropriate, to
refer to his beneficiary, estate or other legal representative.

(f) Survivorship. Except as otherwise set forth in this Agreement, the respective
rights and obligations of the Parties hereunder shall survive any termination of the Executive’s
employment.

(g) Severability. To the extent that any provision or portion of this Agreement shall
be determined to be invalid or unenforceable for any reason, in whole or in part, the remaining
provisions of this Agreement shall remain in full force and effect so as to achieve the intentions
of the Parties, as set forth in this Agreement, to the maximum extent possible.

(h) Withholding Taxes. The Company may withhold from any amount or benefit payable
under this Agreement taxes that it is required to withhold pursuant to any applicable law or
regulation.

(i) Governing Law. This Agreement shall be governed, construed, performed and
enforced in accordance with its express terms, and otherwise in accordance with the laws of the
State of New York, without reference to principles of conflict of laws.

(j) Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, and all of which together shall be deemed to be one and the same
instrument. Signatures delivered by facsimile shall be effective for all purposes.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set
forth above.

	 	 	 	EpiCept Corporation

	 	 	 	By:

John V. Talley, Jr., Chief Executive
Officer

	 	 	 	Executive

EXHIBIT A

DEFINITIONS

a. “Affiliate” of a Person shall mean any Person that directly or indirectly controls,
is controlled by or is under common control with such Person.

b. “Base Salary” shall mean the Executive’s annualized base salary, as in effect from
time to time, disregarding any decrease in such base salary that occurred within six months before,
upon, or with one year following, a Change in Control.

c. “Cause” shall mean:

i. the Executive is convicted of, or pleads guilty or nolo contendere to, a
felony; or

ii. in carrying out his duties for the Company, the Executive engages in conduct that
constitutes willful gross neglect or willful gross misconduct. Notwithstanding the foregoing, in
connection with any termination of the Executive’s employment following a Change in Control, or by
the Company in anticipation of a Change in Control, no act or failure to act on the part of the
Executive shall be deemed to be “willful” unless such act or omission was not in good faith and
without a reasonable belief that the Executive’s action or omission was in, or not opposed to, the
interests of the Company.

d. “Change in Control” shall mean the occurrence of any of the following events:

i. any “person” (as such term is used as of the Effective Date in Section 13(d) of the
Securities Exchange Act of 1934, as amended) or group of persons becomes (directly or indirectly) a
“beneficial owner”, as such term is used as of the Effective Date in Rule 13d-3 promulgated under
that Act, of fifty percent (50%) or more of the Voting Securities of the Company (measured either
by number of Voting Securities or by voting power);

ii. a majority of the board of directors of the Company consists of individuals other than
“Incumbent Directors,” which term means the members of the board of directors of the
Company on the Effective Date; provided that any individual becoming a director subsequent
to such date whose election or nomination for election was supported (other than in connection with
any actual or threatened proxy contest) by two-thirds of the directors who then comprised the
Incumbent Directors shall be considered to be an Incumbent Director; or

iii. (x) the Company combines with another entity and is the surviving entity, or (y) all or
substantially all of the assets or business of the Company is disposed of pursuant to a sale,
merger, consolidation, liquidation, dissolution or other transaction or series of transactions
(collectively, a “Triggering Event”) unless the holders of Voting Securities of the
Company immediately prior such Triggering Event beneficially own, directly or indirectly, by reason
of their ownership of Voting Securities of such Company immediately prior to such Triggering Event,
more than fifty percent (50%) of the Voting Securities (measured both by number of Voting
Securities and by voting power) of (q) such Company, in the case of a combination in which such
Company is the surviving entity, and (r) in any other case, the entity (if any) that succeeds to
substantially all of such Company’s business and assets.

e. “Code” shall mean the Internal Revenue Code of 1986, as amended. Any reference to
a particular section of the Code shall include any provision that modifies, replaces or supersedes
such section.

f. “Confidential Information” shall mean all confidential or proprietary information
developed or used by the Company or its Affiliates relating to their business, operations,
employees, customers, suppliers or distributors including, but not limited to: confidential or
proprietary customer lists, purchase orders, financial data, pricing information and price lists;
confidential or proprietary business plans and market strategies and arrangements; confidential or
proprietary books, records, manuals, advertising materials, catalogues, correspondence, mailing
lists, production data, sales materials, sales records, purchasing materials, purchasing records,
personnel records and quality control records; confidential or proprietary trademarks, copyrights
and patents, and applications therefor; trade secrets; confidential or proprietary inventions,
processes, procedures, research records, market surveys and marketing know-how; and confidential or
proprietary technical papers, software, computer programs, data bases and documentation thereof,
including but not limited to source codes, algorithms, processes, formulae and flow charts. The
term “Confidential Information” shall not include any document, record, data compilation, or other
information that is known or generally available to the public, or within any trade or industry of
the Company or any of its Affiliates, other than as a result of the Executive’s breach of Section
6(a).

g. “Constructive Termination Without Cause” shall mean a termination by the Executive
of his employment with the Company on thirty (30) days’ written notice given by him to the Company
within one (1) year following the occurrence of any of the following events without his express
prior written consent, unless all grounds for such termination shall have been fully cured within
thirty (30) days after the Executive gives notice to the Company requesting cure (such notice to be
given within 90 days after Executive becomes aware of such event):

i. any material diminution in the Executive’s responsibilities or authorities substantially
below those customarily enjoyed by an executive in his position at comparable entities;

ii. any relocation of the Executive’s principal office, or principal place of employment, to a
location that is more than fifty (50) miles from its location in Tarrytown, New York, as of the
Effective Date;

iii. any material breach by the Company or any of its Affiliates of any of their material
obligations to the Executive; or

iv. any failure of the Company to obtain the assumption in writing of its obligations under
this Agreement by any successor to all or substantially all of its business or assets within
fifteen (15) days after any reconstruction, amalgamation, combination, merger, consolidation, sale,
liquidation, dissolution or similar transaction.

h. “Disability” shall mean the Executive’s inability, with or without reasonable
accommodation and due to physical or mental incapacity, to substantially perform his duties and
responsibilities for the Company for an aggregate of 180 days in any 365 day period.

i. “Person” shall mean any individual, corporation, partnership, limited liability
company, joint venture, trust, estate, board, committee, agency, body, employee benefit plan or
other person or entity.

j. “Stock Option” shall mean any compensatory option or warrant to acquire securities
of the Company or any of its Affiliates; any compensatory stock appreciation right, phantom stock
option or analogous right granted by or on behalf of the Company or any of its Affiliates; and any
option or right received in respect of any of the foregoing options or rights.

k. “Target” shall mean the Executive’s annual target incentive opportunity, which may
be expressed as a percentage of his Base Salary, disregarding any decrease in the Target that
occurred within six months before, upon, or within one year following, a Change in Control.

l. “Termination Date” shall mean the date on which the Executive’s employment with the
Company terminates in accordance with this Agreement.

m. “Voting Securities” shall mean issued and outstanding securities of any class or
classes having general voting power, under ordinary circumstances in the absence of contingencies,
to elect, the members of the board of directors, or other governing body, of the issuer.EX-10.1

EXIDE TECHNOLOGIES

RESTRICTED STOCK AWARD AGREEMENT

This RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) is entered into as of
July 26, 2010 between EXIDE TECHNOLOGIES, a Delaware corporation (the “Company”) and JAMES
R. BOLCH (“Executive”).

WHEREAS, the Company and Executive are parties to an employment agreement dated June 10, 2010
(the “Employment Agreement”); and

WHEREAS, in accordance with Section 5(b)(iv) of the Employment Agreement, in consideration of
Executive’s entering into employment with the Company, Executive is to receive a grant of 750,000
shares of common stock, par value $0.01 per share, of the Company (“Common Stock”) as
restricted shares on the date on which he commences his employment with the Company.

NOW, THEREFORE, the Company, as of July 26, 2010 (the “Date of Grant”), hereby grants
to Executive 750,000 shares of restricted Common Stock (the “Restricted Shares”), effective
as of the Date of Grant, subject to the following terms, conditions, limitations and restrictions.

	1.	 	Issuance of Restricted Shares. The Restricted Shares covered by this Agreement shall be
issued to Executive effective upon the Date of Grant. The shares of Common Stock subject to
this grant of Restricted Shares shall be registered in Executive’s name and shall be fully
paid and nonassessable. Any certificate or other evidence of ownership shall bear an
appropriate legend referring to the restrictions hereinafter set forth.

	2.	 	Documents Delivered with Agreement. The Company has delivered to Executive, along with a
copy of this Agreement, a copy of the Company’s most recent integrated Annual Report to
Shareholders and Form 10-K (the “Annual Report”). By executing this Agreement,
Executive acknowledges receipt of these documents.

	3.	 	Restrictions on Transfer of Shares. The shares of Common Stock subject to this grant of
Restricted Shares may not be sold, exchanged, assigned, transferred, pledged, encumbered or
otherwise disposed of by Executive, except to the Company, unless the Restricted Shares are
nonforfeitable as provided in Section 4 or Section 7 hereof; provided,
however, that Executive’s rights with respect to such shares of Common Stock may be
transferred by will or pursuant to the laws of descent and distribution. Any purported
transfer or encumbrance in violation of the provisions of this Section 3 shall be void, and
the other party to any such purported transaction shall not obtain any rights to or interest
in such shares of Common Stock. The Company may, in its sole discretion, waive the
restrictions on transferability with respect to all or a portion of the shares of Common Stock
subject to this grant of Restricted Shares.

	4.	 	Vesting of Restricted Shares. Subject to Section 7 of this Agreement, all of the Restricted
Shares covered by this Agreement shall become nonforfeitable on the third anniversary of the
Date of Grant, if Executive remains in the continuous employ of the Company or any subsidiary
through such date (the “Vesting Date”).

	5.	 	Forfeiture of Shares. Notwithstanding any other provision of this Agreement to the contrary
but except as otherwise provided in Section 7 of this Agreement, any unvested Restricted
Shares shall be forfeited if Executive’s employment with the Company or a subsidiary is
terminated prior to the Vesting Date. In the event of a forfeiture, the certificate(s)
representing the Restricted Shares covered by this Agreement shall be cancelled.

	6.	 	Dividend, Voting and Other Rights. Except as otherwise provided herein, from and after the
Date of Grant, Executive shall have all of the rights of a stockholder with respect to the
Restricted Shares covered by this Agreement, including the right to vote such Restricted
Shares and receive any dividends that may be paid thereon; provided, however,
that any additional shares of Common Stock or other securities that Executive may become
entitled to receive pursuant to a stock dividend, issuance of rights or warrants, stock split,
combination of shares, recapitalization, merger, consolidation, separation, or reorganization
or any other change in the capital structure of the Company shall be subject to the same
restrictions, and Executive shall have the same rights and privileges with respect thereto, as
the Restricted Shares covered by this Agreement.

	7.	 	Termination of Employment. In the event Executive’s employment is terminated (a) by the
Company without Cause (as defined in the Employment Agreement), (b) by Executive with Good
Reason (as defined in the Employment Agreement), (c) by the Company due to Executive’s
“Disability” (as defined in the Employment Agreement), (d) due to the expiration and
non-renewal of the Employment Period (as defined in the Employment Agreement) by the Company,
or (e) due to Executive’s death, any Restricted Shares that remain unvested at the time of
such termination shall become fully vested on the Date of Termination (as defined in the
Employment Agreement).

	8.	 	Retention of Stock Certificate(s) by the Company. Certificates representing the shares of
Common Stock subject to this grant of Restricted Shares, if any, will be held in custody by
the Company together with a stock power endorsed in blank by Executive with respect thereto,
until those shares have become nonforfeitable in accordance with Section 4 or Section 7.

	9.	 	Section 83(b) Election Notice. If Executive is a U.S. citizen and makes an election under
Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”) with respect to
Executive’s Restricted Shares (a “Section 83(b) Election”), Executive agrees to
provide a copy of such election to the Company within 10 days after filing that election with
the Internal Revenue Service. A sample form of Section 83(b) Election is attached hereto as
Exhibit A.

	10.	 	Registration of Common Stock. As soon as practicable following the Date of Grant, the
Company shall file a registration statement on Form S-8 under the Securities Act of 1934, as
amended, to register the vested shares of Common Stock received pursuant to this grant of
Restricted Shares for resale and, upon request by Executive, shall make reasonable efforts to
promptly update such registration statement as required by applicable securities laws.

	11.	 	Taxes and Withholding. (a) To the extent that the Company shall be required to withhold any
federal, state, local or foreign taxes in connection with the issuance or vesting of the
Restricted Shares (including in the event that Executive makes an election under Section 83(b)
of the Code with respect to the Restricted Shares), and the amounts available to the Company
for such withholding are insufficient, Executive shall pay such taxes or make provisions that
are satisfactory to the Company for the payment thereof. Unless otherwise determined by the
Board of Directors of the Company (the “Board”), Executive may elect to satisfy all or
any part of any such withholding obligation by (i) paying cash, (ii) surrendering to the
Company a portion of the shares of Common Stock that are issued or transferred to Executive or
that become nontransferable by Executive hereunder, and the shares of Common Stock so
surrendered by Executive shall be credited against any such withholding obligation at the
Market Value per Share of such shares of Common Stock on the date of such surrender, or (iii)
a combination of such methods.

(b) For purposes of this Agreement, “Market Value per Share” means, as of any
particular date (the “Determination Date”), the following:

	 	(i)	 	Prior to May 5, 2011, (A) the average closing price of the
Common Stock for the ten consecutive trading days immediately preceding, but
not including, the Determination Date as reported on the Nasdaq Stock Market;
or (B) if such shares of Common Stock are not traded on the Nasdaq Stock Market
but are quoted on the New York Stock Exchange or the American Stock Exchange,
or a successor system, the average closing price of the Common Stock for the
ten consecutive trading days immediate preceding, but not including, the
Determination Date; or (C) if such shares of Common Stock are not traded on the
Nasdaq Stock Market or on any other national securities exchange, but are
otherwise traded in the over-the-counter market, the average mean between the
representative bid and asked prices for the ten consecutive trading days
immediately preceding, but not including, the Determination Date; or (D) if
subsections (A) through (C) hereof do not apply, the fair market value
established in good faith by the Board. Notwithstanding the previous sentence,
in the event the Market Value per Share, as calculated under subsections (A)
through (D) hereof, is less than the closing price of the Common Stock on the
Date of Grant, then the Market Value per Share shall be equal to the closing
price of the Common Stock on the Date of Grant.

	 	(ii)	 	Effective May 5, 2011, the closing sale price of the Common
Stock as reported on the Nasdaq Stock Market or, if not listed on such
exchange, on any other national securities exchange on which the Common Stock
is listed. If the Common Stock is not traded as of any given date, the Market
Value per Share means the closing price for the Common Stock on the principal
exchange on which the Common Stock is traded for the immediately preceding date
on which the Common Stock was traded. If there is no regular public trading
market for the Common Stock, the Market Value per Share of the Common Stock
shall be the fair market value of the Common Stock as determined in good faith
by the Board.

	12.	 	Compliance with Law. The Company shall make reasonable efforts to comply with all applicable
federal and state securities laws; provided, however, notwithstanding any
other provision of this Agreement, the Company shall not be obligated to issue any shares of
Common Stock pursuant to this Agreement if the issuance thereof would result in a violation of
any such law.

	13.	 	Continuous Employment. For purposes of this Agreement and except to the extent an event
described in Section 7 occurs, the continuous employment of Executive with the Company or any
subsidiary shall not be deemed to have been interrupted, and Executive shall not be deemed to
have ceased to be an employee of the Company or subsidiary, by reason of (a) the transfer of
his employment among the Company and its subsidiaries or (b) a leave of absence approved by
the Board.

	14.	 	Certain Determinations. Application, violation, or other interpretation of the terms of this
Agreement shall be determined by the Board, in its sole discretion, and its determination
shall be final and binding on Executive and the Company. No member of the Board will be
liable for any such action or determination made in good faith.

	15.	 	Amendments. Any amendment to the Employment Agreement shall be deemed to be an amendment to
this Agreement to the extent that the amendment is applicable hereto; provided,
however, that no amendment shall adversely affect the rights of Executive under this
Agreement without Executive’s prior written consent.

	16.	 	Severability. If any provision of this Agreement or the application of any provision hereof
to any person or circumstances is held invalid or unenforceable, the remainder of this
Agreement and the application of such provision to any other person or circumstances shall not
be affected, and the provisions so held to be invalid or unenforceable shall be reformed to
the extent (and only to the extent) necessary to make it enforceable and valid.

	17.	 	Governing Law. This Agreement shall be governed by and construed in accordance with the
internal substantive laws of the State of Delaware, without giving effect to any principle of
law that would result in the application of the law of any other jurisdiction.

	18.	 	Complete Agreement. This Agreement and the Employment Agreement embody the complete
agreement and understanding between the parties with respect to the subject matter hereof and
supersede and preempt any prior understandings, agreements or representations by or between
the parties, written or oral, that may have related to the subject matter hereof in any way.

	19.	 	Counterparts. This Agreement may be executed by the parties hereto in separate counterparts,
each of which when so executed and delivered shall be an original, but all such counterparts
shall together constitute the same instrument.

1

BY EXECUTIVE’S SIGNATURE BELOW, along with the signature of the Company’s representative,
Executive and the Company agree that the Restricted Shares are awarded under and governed by the
terms and conditions of this Agreement.

EXIDE TECHNOLOGIES

By:

[A duly authorized Director or Officer]

	 	 	 
	Address:
	 	13000 Deerfield Parkway

	 	 	 

	 	 	Building 200

	 	 	 

	 	 	Milton, GA 30004

	 	 	 

The undersigned hereby accepts the terms of this Agreement.

James R. Bolch

Address:      

      

2

Exhibit A

Section 83(b) Election Form

Attached is an Internal Revenue Code Section 83(b) Election Form. IF YOU WISH TO MAKE A SECTION
83(B) ELECTION, YOU MUST DO SO WITHIN 30 DAYS AFTER THE DATE THE RESTRICTED SHARES COVERED BY THE
ELECTION WERE TRANSFERRED TO YOU. In order to make the election, you must completely fill out the
attached form and file one copy with the Internal Revenue Service office where you file your tax
return. In addition, one copy of the statement also must be submitted with your income tax return
for the taxable year in which you make this election. Finally, you also must submit a copy of the
election form to the Company within 10 days after filing that election with the Internal Revenue
Service. A Section 83(b) election normally cannot be revoked.

3

EXIDE TECHNOLOGIES

________________________________________________________

Election to Include Value of Restricted Shares in Gross Income

in Year of Transfer Under Internal Revenue Code Section 83(b)

_________________________________________________________

Pursuant to Section 83(b) of the Internal Revenue Code, I hereby elect within 30 days after
receiving the property described herein to be taxed immediately on its value specified in item 5
below.

	1.	 	My General Information:

	 	 	 	 	 
	Name:
	 	 	—	 
	Address:
	 	 	—	 

      

	 	 	 	S.S.N.

	 	•	 	r T.I.N.:       

	2.	 	Description of the property with respect to which I am making this election:

       shares of Common Stock of Exide Technologies.

	3.	 	The Restricted Shares were transferred to me on              , 20      . This election
relates to the 20       calendar taxable year.

	4.	 	The Restricted Shares are subject to the following restrictions:

The Restricted Shares are forfeitable until they are earned in accordance with the
Restricted Stock Award Agreement (“Agreement”). The Restricted Shares
generally are not transferable until my interest becomes vested and nonforfeitable,
pursuant to the Agreement.

5. Fair market value:

The fair market value at the time of transfer (determined without regard to any
restrictions other than restrictions which by their terms never will lapse) of the
Restricted Shares with respect to which I am making this election is $    per
share.

6. Amount paid for Restricted Shares:

The amount I paid for the Restricted Shares was $    per share.

7. Furnishing statement to employer:

A copy of this statement has been furnished to my employer,       . If the
transferor of the Restricted Shares is not my employer, that entity also has been
furnished with a copy of this statement.

8. Agreement not affected:

Nothing contained herein shall be held to change any of the terms or conditions of
the Agreement.

Dated:              , 20      .

      

Taxpayer

4

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