Document:

Stock Purchase Agreement

 Exhibit 10.34 

STOCK PURCHASE AGREEMENT 
 THIS STOCK PURCHASE AGREEMENT (this “Agreement”), effective as of December __, 2011, is by and among First Acceptance Corporation, a Delaware corporation (the “Company”),
and Stephen J. Harrison and Stephen J. Harrison 2010 Grantor Retained Annuity Trust (individually, a “Seller,” and, collectively, the “Sellers”). 

RECITALS 

WHEREAS, the Sellers collectively own 7,049,515 shares of Company common stock, par value $0.01 per share (the
“Shares”); and 
 WHEREAS, the Sellers desire to sell, transfer, assign and convey to the Company, and the
Company desires to purchase and accept from the Sellers, the Shares on the terms and conditions set forth in this Agreement (the “Repurchase”). 
 AGREEMENT 
 NOW, THEREFORE, for and in consideration of the premises and the
mutual covenants and agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Sale and Purchase of the Shares. Upon the terms and subject to the conditions set forth in this Agreement, each Seller hereby
agrees to sell, transfer, assign and convey to the Company, and the Company hereby agrees to purchase and accept from each Seller, that number of Shares set forth opposite such Seller’s name on Schedule I attached hereto (the
“Securities Transfer”), in consideration for payment (the “Securities Payment”) by the Company of One Dollar and Forty-Five Cents ($1.45) per Share, for an aggregate purchase price to each Seller set forth opposite
such Seller’s name on Schedule I attached hereto (the “Purchase Price”), payable by the Company at the Closing (as hereinafter defined) as set forth in Section 2 of this Agreement. 

2. Closing. On the Effective Date (as defined in that certain Mutual Separation and Release Agreement, dated the date hereof, by
and between the Company and Stephen J. Harrison (the “Separation Agreement”)), the closing of the Repurchase (the “Closing”) contemplated by this Agreement shall take place by Delivery Versus Payment (hereinafter
defined) by the Depository Trust & Clearing Corporation utilizing the Delivery Instructions. “Delivery Versus Payment” means the delivery of the Shares to the account of the Company’s custodian against a cash
settlement to the account of the Sellers’ custodians, as provided in the rules, procedures, service guidelines and regulations of the Depository Trust & Clearing Corporation. “Delivery Instructions” means the
instructions for the Securities Transfer and the Securities Payment set forth on Schedule I hereto. For avoidance of doubt and notwithstanding anything herein to contrary, in the event that the Separation Agreement is revoked during the
revocation period set forth therein or otherwise terminated, the Company shall not be required to consummate the transactions contemplated herein. The date upon which the Sellers receive the Purchase Price is referred to hereinafter as the
“Closing Date.” 

 3. Representations and Warranties of the Sellers. Each Seller hereby, jointly and
severally, represents and warrants to the Company that the following statements are true, correct and complete at and as of the date of this Agreement and the Closing Date: 

(a) the Sellers have good, valid and marketable title to the Shares, free and clear of all liens, claims, charges,
pledges, security interests, orders, writs, judgments and other encumbrances whatsoever, with full legal right and power to sell, transfer, assign and convey absolute ownership of the Shares to the Company, and upon sale, transfer, assignment and
conveyance of the the Shares, the Company will obtain good, valid and marketable title to the Shares free and clear of all liens, claims, charges, pledges, security interests, orders, writs, judgments and other encumbrances whatsoever; 

(b) each Seller (i), if other than an individual, is duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization and (ii) has all requisite power and authority to execute and deliver this Agreement and to consummate the transactions contemplated by this Agreement (the “Transactions”); 

(c) the execution and delivery by each Seller of this Agreement, and the performance by each Seller of its respective
obligations hereunder, have been duly authorized by all requisite action on the part of such Seller. This Agreement is the legal, valid and binding obligation of each Seller, enforceable against such Seller in accordance with its terms, except that
such enforcement (i) may be limited by bankruptcy, insolvency, moratorium or similar laws affecting creditors’ rights generally and (ii) is subject to the availability of equitable remedies, as determined in the discretion of the
court before which such a proceeding may be brought; 
 (d) the execution and delivery of this Agreement by each
Seller, and the performance by each Seller of its respective obligations hereunder, will not (i) violate or breach any provision of any Seller’s organizational or governing documents, (ii) violate or breach any statute, law, rule,
regulation or order by which any Seller or any of its respective properties or the Shares may be bound or (iii) breach, or result in a default under, any material contract or material agreement to which any Seller is a party or by which any
Seller or any of its respective properties or the Shares may be bound; 
 (e) no approval, consent, authorization
or order of, notice to or registration or filing with, or any other action by, any governmental authority or any other person is required in connection with the due execution and delivery by each Seller of this Agreement and the performance of such
Seller’s respective obligations hereunder, except for such filings as such Seller may be required to make with the United States Securities and Exchange Commission; 

(f) there is no action, lawsuit, arbitration, claim or proceeding pending or, to the knowledge of each Seller, threatened,
against such Seller that involves any of the Shares or Transactions or could reasonably be expected to impede the consummation of the Transactions; 
 (g) there is no suit, action, inquiry, audit, proceeding or investigation by or before any court or governmental, regulatory or administrative agency or commission pending or threatened against any Seller
with respect to the Shares or the Transactions; 
 (h) the Sellers and/or the Sellers’ advisor(s) have had a
reasonable opportunity to ask questions of, and receive answers from, a person or persons acting on behalf of the Company concerning the Shares and the Company and all such questions have been answered to each Seller’s full satisfaction;

 (i) the Sellers are not relying on the Company with respect to the tax and other economic considerations of
the Repurchase, and the Sellers have relied on the advice of, or have consulted with, the Sellers’ own advisors; 
 (j) each Seller has not offered to sell any portion of the Shares or any interest therein in a manner which would require the sale of the Shares to the Company hereunder to be registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any other applicable securities laws. Each Seller has not offered to sell the Shares by means of any general solicitation or general advertising within the meaning of
Rule 502(c) under the Securities Act; 

  
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 (k) each Seller has not engaged or employed any finder, broker, agent or
other intermediary in connection with the transactions described herein. There are no fees, commissions or compensation payable by the Company to any person engaged or retained by, through or on behalf of any Seller in connection with the
consummation of the transactions described herein; 
 (l) other than this Agreement, each Seller has not granted,
created or entered into any currently existing option, purchase agreement, redemption agreement, call or right to subscribe of any character relating to (i) the Shares or (ii) any securities exercisable or exchangeable for or convertible
into the Shares (other than as may exist pursuant to the organizational or governing documents of the Company); 

(m) the Company has advised each Seller that the Company may be in possession of non-public information regarding the
Company and its affiliates that might be material to a party proposing a sale of securities such as the Shares. Each Seller has determined that it does not wish to execute a confidentiality agreement with the Company and receive disclosure from the
Company of any such non-public information. Each Seller, instead, has determined that it possesses sufficient knowledge and experience in business and financial matters to evaluate the transactions contemplated hereby without receiving non-public
information from the Company and without relying on any information, representation or warranty from the Company, other than as expressly set forth in Section 4 hereof; and 

(n) each Seller, together with the other Seller, determined the Purchase Price without relying on any information,
representation or warranty from the Company, other than as expressly set forth in Section 4 hereof. Each Seller has assured the Company that such Seller could evaluate the transaction contemplated hereby and the Purchase Price without
reference to or reliance on any non-public information possessed by the Company. The Company has not made any representation or warranty to any Seller regarding the sufficiency of the Purchase Price, and each Seller is not relying on any
representation or warranty from the Company as to the Purchase Price. 
 4. Representations and Warranties of the
Company. The Company hereby represents and warrants to each Seller that the following statements are true, correct and complete at and as of the date of this Agreement and the Closing Date: 

(a) the Company (i) is duly organized, validly existing and in good standing under the laws of the jurisdiction of
its organization and (ii) has all requisite power and authority to execute and deliver this Agreement and to consummate the Transactions; 
 (b) the execution and delivery by the Company of this Agreement, and the performance by the Company of its obligations hereunder, have been duly authorized by all requisite action on the part of the
Company. This Agreement is the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except that such enforcement (i) may be limited by bankruptcy, insolvency, moratorium or similar
laws affecting creditors’ rights generally and (ii) is subject to the availability of equitable remedies, as determined in the discretion of the court before which such a proceeding may be brought; 

(c) the execution and delivery of this Agreement by the Company, and the performance by the Company of its obligations
hereunder, will not (i) violate or breach any provision of the Company’s organizational or governing documents, (ii) violate or breach any statute, law, rule, regulation or order by which the Company or any of its properties may be
bound or (iii) breach, or result in a default under, any material contract or material agreement to which the Company is a party or by which the Company or any of its properties may be bound; 

  
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 (d) no approval, consent, authorization or order of, notice to or
registration or filing with, or any other action by, any governmental authority or any other person is required in connection with the due execution and delivery by Company of this Agreement and the performance of Company’s obligations
hereunder, except for such filings as the Company may be required to make with the United States Securities and Exchange Commission; 
 (e) there is no action, lawsuit, arbitration, claim or proceeding pending or, to the knowledge of the Company, threatened, against the Company that involves any of the Transactions or could reasonably be
expected to impede the consummation of the Transactions; 
 (f) there is no suit, action, inquiry, audit,
proceeding or investigation by or before any court or governmental, regulatory or administrative agency or commission pending or threatened against the Company with respect to the Transactions; and 

(g) the Company has not engaged or employed any finder, broker, agent or other intermediary in connection with the
transactions described herein. There are no fees, commissions or compensation payable by any of the Sellers to any person engaged or retained by, through or on behalf of the Company in connection with the consummation of the transactions described
herein. 
 5. Release. 
 (a) Each Seller does hereby release the Company, its shareholders, its affiliates and successors, and all of the Company’s directors, officers, employees and agents (collectively, the
“Company Parties”), and agrees to hold them, and each of them, harmless from any and all claims or causes of action that any Seller may now have or know about, or hereafter may learn about, arising out of or in any way connected
with the Repurchase; provided, the foregoing release shall not include matters contained in this Agreement or the Separation Agreement. Each Seller agrees that such Seller will not file any claim, charge, or lawsuit for the purpose of obtaining any
monetary awards in connection with the Repurchase. Each Seller acknowledges that the foregoing release includes, but is not limited to, any claim arising under any federal, state, or local law, whether statutory or judicial, or ordinance, or any
administrative regulation. 
 (b) The Company does hereby release each Seller, its shareholders, its affiliates
and successors, and all of each Seller’s respective directors, officers, employees and agents (collectively, the “Seller Parties”), and agrees to hold them, and each of them, harmless from any and all claims or causes of action
that the Company may now have or know about, or hereafter may learn about, arising out of or in any way connected with the Repurchase; provided, the foregoing release shall not include matters contained in this Agreement or the Separation Agreement.
The Company agrees that the Company will not file any claim, charge, or lawsuit for the purpose of obtaining any monetary awards in connection with the Repurchase. The Company acknowledges that the foregoing release includes, but is not limited to,
any claim arising under any federal, state, or local law, whether statutory or judicial, or ordinance, or any administrative regulation. 
 6. Further Assurances. From time to time after the execution of this Agreement, each party shall execute and deliver such documents, instruments and certificates as the other party hereto may
reasonably request in order to more effectively vest, confirm and evidence in the Company all right, title and interest in and to the Shares, and to otherwise carry out the purpose and intent of this Agreement. 

  
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 7. General. 

(a) Execution in Counterparts. This Agreement may be executed in one or more counterparts, each of which will be
deemed to be an original of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile or other electronic transmission
will constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile or other electronic transmission will be
deemed to be their original signatures for any purpose whatsoever. 
 (b) Binding Effects; Benefits;
Assignment. No party may assign its rights or obligations hereunder without the prior written consent of the other party. All of the terms of this Agreement shall be binding upon, inure to the benefit of, and be enforceable by and against the
parties hereto and their respective successors, heirs, personal representatives and authorized assigns. Nothing in this Agreement, express or implied, is intended to confer upon any other person any rights or remedies under or by reason of this
Agreement, except as set forth in Section 5 of this Agreement and this Section 7(b). 

(c) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws or otherwise. 
 (d) Entire Agreement. This Agreement and the Separation Agreement constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements
and understandings, oral and written, between the parties with respect to such subject matter. 
 (e)
Amendment and Waiver. This Agreement may be amended, modified, superseded or canceled only by a written instrument executed by all parties hereto or, in the case of a waiver, by or on behalf of the party waiving compliance. 

(f) Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under any
present or future law, rule or regulation, such provision shall be fully severed, and this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision never comprised a part hereof. The remaining provisions of
this Agreement will remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom. 
 (g) Waiver of Jury Trial. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS,
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS SECTION 7(G) WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND
BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY ACTION OR PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT OR THE TRANSACTIONS SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A
JUDGE SITTING WITHOUT A JURY. 
 (h) Survival. All of the representations, warranties, covenants and
agreements contained in this Agreement shall survive the Closing. 

  
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 (i) Counsel. Each party hereto acknowledges that it has had an
opportunity to consult with and, if so desired, has consulted with, legal counsel of its choosing with respect to this Agreement and the Transactions. 
 (j) No Waiver; Remedies. No failure or delay by any party in exercising any right, power or privilege under this Agreement will operate as a waiver of the right, power or privilege. A single or
partial exercise of any right, power or privilege will not preclude any other or further exercise of the right, power or privilege or the exercise of any other right, power or privilege. The rights and remedies provided in this Agreement will be
cumulative and not exclusive of any rights or remedies provided by law. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Company and the Sellers have each caused this Agreement to be duly
executed as of the date first set forth above. 
  

			
	COMPANY:
	
	FIRST ACCEPTANCE CORPORATION
		
	By:	 	/s/ MARK A. KELLY
	Name:	 	Mark A. Kelly
	Title:	 	Interim President
	
	SELLERS:
	
	STEPHEN J. HARRISON
	
	/s/ STEPHEN J. HARRISON
	Stephen J. Harrison
	
	STEPHEN J. HARRISON 2010 GRANTOR RETAINED ANNUITY TRUST
		
	By:	 	/s/ DONNA H. HARRISON
	Name:	 	Donna H. Harrison
	Title:	 	Trustee

  
 [Signature
Page to Stock Repurchase Agreement] 

 Schedule I 

 

									
	 Seller
	  	Number of Shares	 	  	Purchase Price	 
	 Stephen J. Harrison
	  	 	2,746,891	  	  	$	3,982,991.95	  
	 Stephen J. Harrison 2010 Grantor Retained Annuity Trust
	  	 	4,302,624	  	  	$	6,238,804.80	  
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	7,049,515	  	  	$	10,221,796.75	  
		  	  
	  
	 	  	  
	  
	 

 Delivery Instructions 
 For Delivery of Shares to the Company: 
 Custodian: 

DTC# 
 Agent Bank ID: 

For Further Credit: 
 Account: 

Attn: 
 For Delivery of Purchase Price to
Sellers: 
 Custodian: 
 DTC#

 Agent Bank ID: 
 For Further Credit:

 Account: 
 Attn: 

  
 Schedule ILetter Agreement with John Thero

 Exhibit 10.1 
 

 
 12 Roosevelt Ave, 3rd Floor 
 Mystic, CT 06355 
 Tel: 860-572-4979    Fax: 860-572-4940

 December 23, 2011 
 John F.
Thero 
 c/o Amarin Pharma, Inc. 

Mystic Packer Bldg. 
 12 Roosevelt Avenue

 Mystic, CT 06355 
 Dear
Mr. Thero: 
 On behalf of Amarin Corporation plc (the “Company”), I am pleased to confirm the terms of your
continued employment with the Company, effective January 1, 2012. The purpose of this letter agreement is to set forth those terms of employment. This letter agreement (the “Agreement”) fully supersedes any prior agreements,
understanding or arrangements, whether oral or written, implied or express, with respect to the terms and conditions of your employment with the Company including, without limitation, any offer letter, employment agreement or other agreement or
understanding relating to compensation, benefits, severance pay or other terms or conditions of employment (collectively, the “Prior Agreements”), provided any agreement you have with the Company and/or any of its subsidiaries or
affiliates related to confidentiality/nondisclosure, assignment of inventions and patents, any stock option agreement entered into by you in connection an equity award issued to you by the Company or its subsidiaries or affiliates and any Deed of
Indemnity applicable to you (collectively the “Preserved Agreements”) shall remain in full force and effect. 
 With
those understandings, the Company agree as follows: 
 1. Position: Your current position with the Company is President
and principal financial officer reporting to the Company’s Chief Executive Officer. This is a full-time position. It is understood and agreed that, while you render services to the Company, you will not engage in any other employment,
consulting or other business activities (whether full-time or part-time) without prior express written consent of the Company’s Chief Executive Officer. Notwithstanding the foregoing, you may engage in religious, charitable, or other community
activities so long as such services or activities do not interfere or conflict with your obligations to the Company. In addition to your role as President and principal financial officer, you acknowledge and agree that you may be required, without
additional compensation, to perform duties for certain affiliated entities of the Company, including without limitation Amarin Pharma, Inc., and to accept any reasonable office or position with any such affiliate as the

 Mr. John Thero 
 December 23, 2011 
  Page
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Company’s Board of Directors may require, including, but not limited to, service as an officer or director of any such affiliate. 

2. Salary: The Company will pay you a salary at the annual rate of $386,300, subject to periodic review and adjustment at the
discretion of the Company. Currently our policy is to make salary payments semi-monthly. 
 3. Bonus: You will be
eligible to receive annual performance bonuses. The Company will target the bonus of up to 40% of your annual salary rate. The actual bonus is discretionary and will be subject to the Company’s assessment of your performance, as well as
business conditions at the Company. The bonus also will be subject to your employment for the full period covered by the bonus, approval by and adjustment at the discretion of the Company’s Board of Directors or an authorized committee thereof,
and the terms of any applicable bonus plan. The Company may also make adjustments in the targeted amount of your annual performance bonus. Any bonus awarded to you will be paid by March 15 of the year following the bonus year to which such
bonus relates. 
 4. Benefits: You will be eligible to participate in the employee benefits and insurance programs
generally made available to its full-time employees, including health, life, disability and dental insurance. You will be eligible for up to fifteen (15) days of paid vacation per year, which shall accrue on a prorated basis. Other provisions
of the Company’s vacation policy are set forth in the policy itself. You will be reimbursed for all reasonable business expenses you incur while carrying out your duties on behalf of the Company provided such reimbursement shall be conditioned
on you following the Company’s reimbursement policies and claims procedures, including by providing appropriate documentation of such expenses. 
 5. Stock Options: Except as expressly provided herein, your current equity with the Company shall be governed by the terms of the Company’s 2002 Stock Option Plan and associated stock option
agreements and/or 2011 Stock Incentive Plan and associated stock option agreements, as applicable (collectively the “Equity Documents”). You shall be eligible for additional equity based awards at the discretion of the Company and subject
to approval by the Company’s Board of Directors. 
 6. At-will Employment, Accrued Obligations; Severance: Your
employment will continue to be “at will” meaning you or the Company may terminate it at any time for any or no reason. In the event of the termination of your employment for any reason, the Company shall pay you the Accrued Obligations,
defined as (1) your base salary through the date of termination, (2) an amount equal to the value of your accrued unused vacation days, if any, and (3) the amount of any business expenses properly incurred by you on behalf of the
Company prior to any such termination and not yet reimbursed. In addition to the Accrued Obligations, in the event the Company terminates your employment without Cause at any time, or during the twenty-four (24) month period that immediately
follows a Change of Control (the “Post-Change in Control Period”) the Company terminates your employment without Cause or you terminate 

 Mr. John Thero 
 December 23, 2011 
  Page
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your employment for Good Reason (defined below), the Company shall provide you with the following termination benefits (the “Termination Benefits”), which shall be substantively
dependent on the date of the last day of your employment (the “Date of Termination”): 
  

	 	(i)	continuation of your base salary then in effect during the “Salary Continuation Period” which shall be either: (A) nine (9) months from the Date of
Termination, if the Company terminates your employment without Cause and the Date of Termination occurs at any time outside of the Post-Change in Control Period, or (B) twelve (12) months from the Date of Termination, if the Company
terminates your employment without Cause or you terminate your employment for Good Reason and, in either case, the Date of Termination occurs during the Post-Change in Control Period. Solely for purposes of Section 409A of the Internal Revenue
Code of 1986, as amended, each Salary Continuation Payment during the Salary Continuation Period is considered a separate payment; 

  

	 	(ii)	continuation of group health plan benefits to the extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as
“COBRA”), with the cost of the regular premium for such benefits shared in the same relative proportion by the Company and you as in effect on the date of termination until the earlier of: (i) the end of the Salary Continuation
Period, and (ii) the date you become eligible for health benefits through another employer or otherwise become ineligible for COBRA; 

  

	 	(iii)	if the Company terminates your employment without Cause or you terminate your employment for Good Reason and, in either case, the Date of Termination occurs during the
Post-Change in Control Period, a lump sum cash payment equal to your target annual performance bonus for the year during which the Date of Termination occurs; 

 

	 	(iv)	if the Company terminates your employment without Cause and the Date of Termination occurs outside of the Post-Change in Control Period, six (6) months of
accelerated vesting from the Date of Termination with respect to any of your then outstanding stock options, restricted stock units or other equity incentive awards (in each case, only to the extent subject to time-based vesting); and

  

	 	(v)	if the Company terminates your employment without Cause or you terminate your employment for Good Reason and, in either case, the Date of Termination occurs during the
Post-Change in Control Period, then outstanding stock options, restricted stock units or other equity incentive awards (whether or not subject to time based vesting) shall immediately vest in full effective upon the Date of Termination.

 Mr. John Thero 
 December 23, 2011 
  Page
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 Notwithstanding anything to the contrary in this Agreement, you shall not be entitled to any Termination
Benefits unless you first (i) enter into, do not revoke, and comply with the terms of a separation agreement in a form acceptable to the Company which shall include a release of claims against the Company and related persons and entities (the
“Release”), provided that the Release shall not require you to release (a) claims to enforce your right to receive Termination Benefits; (b) claims for vested benefits pursuant to ERISA; (c) claims with respect to your
vested equity rights as of the Date of Termination; (d) claims to enforce the Company’s obligation to indemnify you to the extent such indemnification obligations exist; and (e) claims which legally may not be waived; (ii) resign
from any and all positions, including, without implication of limitation, as a director, trustee, and officer, that you then hold with the Company and any affiliate of the Company; and (iii) return all Company property and comply with any
instructions related to deleting and purging duplicates of such Company property, in each case within the time period designated by the Company but in no event later than 60 days of the Date of Termination. The Salary Continuation Payments
shall commence within 60 days after the Date of Termination and shall be made on the Company’s regular payroll dates; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the
Salary Continuation Payments shall begin to be paid in the second calendar year. In the event you miss a regular payroll period between the Date of Termination and first Salary Continuation Payment, the first Salary Continuation Payment shall
include a “catch up” payment. Notwithstanding the foregoing, if you breach any of the material provisions of this Agreement or the Nondisclosure Developments and Non-competition Agreement, in addition to all other rights and remedies, the
Company shall have the right to terminate or cease payment of the Termination Benefits. For the avoidance of doubt, you shall not be entitled to the Termination Benefits in the event your employment ends due to your death or disability. 

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

“Cause” shall mean: (i) conduct by you constituting an act of material misconduct in connection with the performance of your duties,
including, without limitation, misappropriation of funds or property of the Company other than the occasional, customary and de minimis use of Company property for personal purposes; (ii) the commission by you of (A) any felony; or
(B) a misdemeanor involving moral turpitude, deceit, dishonesty or fraud; (iii) any conduct by you that would reasonably be expected to result in material injury or reputational harm to the Company or any of its subsidiaries and affiliates
if you were retained; (iv) continued non-performance or continued unsatisfactory performance by you of your responsibilities as reasonably determined by the Company’s Board of Directors; (v) a breach by you of any of the material
provisions of any agreement between you and the Company including, without limitation, any agreement relating to non-disclosure, non-competition or assignment of inventions; (vi) a material violation by you of any of the Company’s written
policies or procedures provided that, other than in the case of noncurable events, you are provided with written notice and fifteen (15) days to cure. 

 Mr. John Thero 
 December 23, 2011 
  Page
 5
 
  

 “Change of Control” shall have the meaning set forth in the 2011 Option Plan, as may be
amended from time to time, but only to the extent such event also constitutes a “change in ownership” of the Company or a “change in the ownership of a substantial portion of the Company’s assets” for purposes of
Section 409A of the Code. 
 “Good Reason” shall mean that you have complied with “Good Reason Process” (hereinafter
defined) following the occurrence of any of the following Good Reason conditions that occur without your consent: (i) a material diminution of your base salary; (ii) a material diminution in your authority, duties or responsibilities;
(iii) a material change in the principal location where you are required to provide services for the Company (subject to the relocation requirements above and not including business travel and short-term assignments); and/or (iv) a
material breach by the Company of this Agreement. For purposes of this Agreement, “Good Reason Process” shall mean that: (x) you reasonably determine in good faith that a “Good Reason” condition has occurred; (y) you
notify the Company in writing of the Good Reason condition within thirty (30) days of the first occurrence of such condition; (z) you cooperate in good faith with the Company’s efforts, for a period of thirty (30) days following
such notice (the “Cure Period”), to remedy the condition; notwithstanding such efforts, the Good Reason condition continues to exist; and you terminate your employment within thirty (30) days after the end of the Cure Period. If the
Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred. 
 8.
Section 280G Limitation: Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by the Company to or for the benefit of you, whether paid or payable or
distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable regulations thereunder (the “Severance Payments”), would be subject
to the excise tax imposed by Section 4999 of the Code, the following provisions shall apply: 
 (a) If the
Severance Payments, reduced by the sum of (1) the Excise Tax and (2) the total of the Federal, state, and local income and employment taxes payable by you on the amount of the Severance Payments which are in excess of the Threshold Amount,
are greater than or equal to the Threshold Amount, you shall be entitled to the full benefits payable under this Agreement. 
 (b) If the Threshold Amount is less than (x) the Severance Payments, but greater than (y) the Severance Payments reduced by the sum of (1) the Excise Tax and (2) the total of the
Federal, state, and local income and employment taxes on the amount of the Severance Payments which are in excess of the Threshold Amount, then the Severance Payments shall be reduced (but not below zero) to the extent necessary so that the sum of
all Severance Payments shall not exceed the Threshold Amount. In such event, the Severance Payments shall be reduced in the following order: (1) cash payments not subject to Section 409A of the Code; (2) cash payments subject to
Section 409A of 

 Mr. John Thero 
 December 23, 2011 
  Page
 6
 
  

 
the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits. To the extent any payment is to be made over time (e.g., in installments, etc.), then
the payments shall be reduced in reverse chronological order. 
 (c) For the purposes of this Section,
“Threshold Amount” shall mean three times your “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the
excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by you with respect to such excise tax. 
 (d) The determination as to which of the alternative provisions of this Section 9 shall apply to you shall be made by a nationally recognized accounting firm selected by the Company (the
“Accounting Firm”), which shall provide detailed supporting calculations both to the Company and you within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company
or you. For purposes of determining which of the alternative provisions of this Section 9 shall apply, you shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the
calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of your residence on the date of termination, net of the maximum reduction in
federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be binding upon the Company and you. 
 9. Taxes; Section 409A: All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholdings and payroll taxes and other deductions
required by law. You hereby acknowledge that the Company does not have a duty to design its compensation policies in a manner that minimizes tax liabilities. Anything in this Agreement to the contrary notwithstanding, if at the time of your
separation from service within the meaning of Section 409A of the Code, the Company determines that you are a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or
benefit that you become entitled to under this Agreement on account of your separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a
result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after your separation from
service, or (B) your death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but
for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. 

 Mr. John Thero 
 December 23, 2011 
  Page
 7
 
  

 All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be
provided by the Company or incurred by you during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the
taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible
for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 
 To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment
or benefit is payable upon the termination of this Agreement, then such payments or benefits shall be payable only upon your “separation from service.” The determination of whether and when a separation from service has occurred shall be
made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 
 The parties intend that this Agreement
will be administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all
payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related
rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 
 The Company
makes no representation or warranty and shall have no liability to you or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an
exemption from, or the conditions of, such Section. 
 10. Other Terms: Your employment with the Company shall be on an
at-will basis. In other words, you or the Company may terminate employment for any reason and at any time, with or without notice, subject to the Termination Benefits provisions herein. Similarly, the terms of employment outlined in this letter are
subject to change at any time. You also will be required to sign and comply with the Company’s Nondisclosure Developments and Non-competition Agreement as a condition of your continued employment and of your receipt of any post-employment
severance pay or benefits, the terms of which shall be incorporated by reference into this Agreement. A copy of the Nondisclosure Developments and Non-competition Agreement is attached. 

11. Interpretation, Amendment and Enforcement: This Agreement, along with the Company’s Nondisclosure Developments and
Non-competition Agreement and the Preserved Agreements, constitutes the complete agreement between you and the Company, contains all of the terms of your employment with the Company and supersedes any prior agreements,

 Mr. John Thero 
 December 23, 2011 
  Page
 8
 
  

 
representations or understandings (whether written, oral or implied) between you and the Company, including the Prior Agreements. The terms of this Agreement and the resolution of any disputes as
to the meaning, effect, performance or validity of this Agreement or arising out of, related to, or in any way connected with, this Agreement, your employment with the Company or any other relationship between you and the Company (the
“Disputes”) will be governed by the laws of the State of Connecticut, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in the
State of Connecticut in connection with any Dispute or any claim related to any Dispute. 
 12. Assignment: Neither you
nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this
Agreement without your consent to one of its Affiliates or to any person with whom the Company shall hereafter effect a reorganization, consolidate with, or merge into or to whom it transfers all or substantially all of its properties or assets.
This Agreement shall inure to the benefit of and be binding upon you and the Company, and each of our respective successors, executors, administrators, heirs and permitted assigns. 

If you have any questions about this Agreement, please let me know. Otherwise, please confirm your acceptance of this Agreement by
signing below and returning a copy to me no later than December 23, 2011. 
 Signed for and on behalf of: 

 

					
	AMARIN CORPORATION PLC
		
	Signed:	 	 /s/ Joseph Zakrzewski

		 	Joseph Zakrzewski, Chief Executive Officer
		
	Dated:	 	 December 23, 2011

	
	UNDERSTOOD, AGREED AND ACCEPTED:
		
	Signed:	 	 /s/ John F. Thero

		 	John F. Thero
		
	Dated:	 	 December 23, 2011

 Enclosures 

 

 
 12 Roosevelt Ave, 3rd Floor 
 Mystic, CT 06355 
 Tel: 860-572-4979    Fax: 860-572-4940

 NONDISCLOSURE, DEVELOPMENTS AND NONCOMPETITION AGREEMENT 

I, the undersigned Employee, enter into this Nondisclosure, Developments and Noncompetition Agreement (the “Agreement”) with
Amarin Corporation plc., Amarin Pharma Inc. (along with its parents, subsidiaries, affiliates, related entities and their respective predecessors, successors and assigns, the “Company”) as a condition of my employment with the Company
and for other good and sufficient consideration. I hereby agree with the Company as follows: 
 1. Proprietary Information. I agree that
all information, whether or not in writing, concerning the Company’s business, technology, business relationships or financial affairs which the Company has not released to the general public (collectively, “Proprietary Information”)
is and will be the exclusive property of the Company. By way of illustration, Proprietary Information may include information or material which has not been made generally available to the public, such as: (a) corporate information, including
plans, strategies, methods, policies, resolutions, negotiations or litigation; (b) marketing information, including strategies, methods, customer identities or other information about customers, prospect identities or other information about
prospects, or market analyses or projections; (c) financial information, including cost and performance data, debt arrangements, equity structure, investors and holdings, purchasing and sales data and price lists, tax-related agreements and
strategies; and (d) operational and technological information, including plans, specifications, manuals, forms, templates, software, designs, methods, procedures, formulas, discoveries, inventions, trade secrets, improvements, concepts and
ideas; (e) personnel information, including personnel lists, reporting or organizational structure, resumes, personnel data, compensation structure, performance evaluations and termination arrangements; and (f) development and market
development information, including clinical trial information, unpublished pre-clinical and clinical results, identity of clinical sites, certain payer contract information. Proprietary Information also includes information received in confidence by
the Company from its customers, clinical sites, payors, contractors, or suppliers or other third parties. 
 2. Recognition of Company’s
Rights. I will not, at any time, without the Company’s prior written permission, either during or after my employment with the Company, disclose any Proprietary Information to anyone outside of the Company, or use or permit to be used any
Proprietary Information for any purpose other than the performance of my duties as an employee of the Company. I will cooperate with the Company and use my best efforts to prevent the unauthorized disclosure of all Proprietary Information. I will
deliver to the Company all copies of Proprietary Information in my possession or control upon the earlier of a request by the Company or the termination of my employment with the Company. 
 3. Rights of Others. I understand that the Company is now and may hereafter be subject to non-disclosure or confidentiality agreements with third persons which require the Company to

 
protect or refrain from use of proprietary information. I agree to be bound by the terms of such agreements in the event I have access to such proprietary information. 

4. Avoidance of Conflict of Interest. While an employee of the Company, I will not engage in any other business activity that conflicts with my
duties to the Company. 
 5. Developments. I represent that I have made and that I will make full and prompt disclosure to the Company of
all inventions, discoveries, designs, developments, methods, modifications, improvements, processes, databases, computer programs, techniques, trade secrets, graphics or images, audio or visual works, Educational Materials and other works of
authorship (collectively “Developments”), whether or not patentable or copyrightable, that are created, made, conceived or reduced to practice by me (alone or jointly with others) or under my direction during the period of my employment
with the Company. I acknowledge that all work performed by me is on a “work for hire” basis, and I hereby do assign and transfer and, to the extent any such assignment cannot be made at present, will assign and transfer, to the Company and
its successors and assigns all my right, title and interest in all Developments that (a) relate to the business of the Company or any customer of or supplier to the Company or any of the products or services being researched, developed,
manufactured or sold by the Company or which may be used with such products or services; or (b) result from tasks assigned to me by the Company; or (c) result from the use of premises or personal property (whether tangible or intangible)
owned, leased or contracted for by the Company (“Company-Related Developments”), and all related patents, patent applications, trademarks and trademark applications, copyrights and copyright applications, and other intellectual property
rights in all countries and territories worldwide and under any international conventions (“Intellectual Property Rights”). 
 To
preclude any possible uncertainty, I have set forth on Exhibit A attached hereto a complete list of Developments that I have, alone or jointly with others, conceived, developed or reduced to practice prior to the commencement of my employment
with the Company that I consider to be my property or the property of third parties and that I wish to have excluded from the scope of this Agreement (“Prior Inventions”). I have also listed on Exhibit A all patents and patent applications
in which I am named as an inventor, other than those which have been assigned to the Company (“Other Patent Rights”). If no such disclosure is attached, I represent that there are no Prior Inventions or Other Patent Rights. If, in the
course of my employment with the Company, I incorporate a Prior Invention into a Company product, process or machine or other work done for the Company, I hereby grant to the Company a nonexclusive, royalty-free, irrevocable, worldwide license (with
the full right to sublicense) to make, have made, modify, use and sell such Prior Invention. Notwithstanding the foregoing, I will not incorporate, or permit to be incorporated, Prior Inventions in any Company-Related Development without the
Company’s prior written consent. 
 This Agreement does not obligate me to assign to the Company any Development which, in the sole
judgment of the Company, reasonably exercised, is developed entirely on my own time and does not relate to the business efforts or research and development efforts in which, during the period of my employment with the Company, the Company actually
is engaged or reasonably would be engaged, and does not result from the use of premises or equipment owned or leased by 

  
 2 

 
the Company. However, I will also promptly disclose to the Company any such Developments for the purpose of determining whether they qualify for such exclusion. I understand that to the extent
this Agreement is required to be construed in accordance with the laws of any state which precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, this paragraph 5 will be interpreted not to apply
to any invention which a court rules and/or the Company agrees falls within such classes. I also hereby waive all claims to any moral rights or other special rights which I may have or accrue in any Company-Related Developments. 

6. Documents and Other Materials. I will keep and maintain adequate and current records of all Proprietary Information and Company-Related
Developments developed by me during my employment with the Company, which records will be available to and remain the sole property of the Company at all times. 
 All files, letters, notes, memoranda, reports, records, data, charts, quotations and proposals, specification sheets, Educational Materials or other written, photographic or other tangible material
containing Proprietary Information, whether created by me or others, which come into my custody or possession, are the exclusive property of the Company to be used by me only in the performance of my duties for the Company. Any property situated on
the Company’s premises and owned by the Company, including without limitation computers, disks and other storage media, filing cabinets or other work areas, is subject to inspection by the Company at any time with or without notice. In the
event of the termination of my employment with the Company for any reason, I will deliver to the Company all tangible material containing Proprietary Information, and other materials of any nature pertaining to the Proprietary Information of the
Company and to my work, and will not take or keep in my possession any of the foregoing or any copies. 
 7. Enforcement of Intellectual
Property Rights. I will cooperate fully with the Company, both during and after my employment with the Company, with respect to the procurement, maintenance and enforcement of Intellectual Property Rights in Company-Related Developments. I will
sign all papers, including without limitation copyright applications, patent applications, declarations, oaths, assignments of priority rights, and powers of attorney, which the Company may deem necessary or desirable in order to protect its rights
and interests in any Company-Related Development. If the Company is unable, after reasonable effort, to secure my signature on any such papers, I hereby irrevocably designate and appoint each officer of the Company as my agent and attorney-in-fact
to execute any such papers on my behalf, and to take any and all actions as the Company may deem necessary or desirable in order to protect its rights and interests in any Company-Related Development. 

8. Non-Competition and Non-Solicitation. In order to protect the Company’s Proprietary Information and good will, during my employment and
for a period of twelve (12) months following the termination of my employment for any reason (the “Restricted Period”), I will not directly or indirectly, whether as owner, partner, shareholder, director, manager, consultant, agent,
employee, co-venturer or otherwise, engage, participate or invest in any business activity anywhere in the world that develops, manufactures or markets any products, or performs any services, that are competitive with or similar to the products or
services of the Company, or 

  
 3 

 
products or services that the Company or its affiliates, has under development or that are the subject of active planning at any time during my employment including, without limitation, a
business that provides or has active plans to provide products and/or services in the area of lipid management; provided that this shall not prohibit any possible investment in publicly traded stock of a company representing less than one percent of
the stock of such company. In addition, during the Restricted Period, I will not, directly or indirectly, in any manner, other than for the benefit of the Company, (a) call upon, solicit, divert, take away, accept or conduct any business from
or with any of the customers or prospective customers of the Company or any of its suppliers, and/or (b) solicit, entice, attempt to persuade any other employee or consultant of the Company to leave the Company for any reason or otherwise
participate in or facilitate the hire, directly or through another entity, of any person who is employed or engaged by the Company or who was employed or engaged by the Company within six months of any attempt to hire such person. I acknowledge and
agree that if I violate any of the provisions of this paragraph 8, the running of the Restricted Period will be extended by the time during which I engage in such violation(s). 
 9. Prior Agreements. I hereby represent that, except as I have fully disclosed previously in writing to the Company, I am not bound by the terms of any agreement with any previous employer or other
party to refrain from using or disclosing any trade secret or confidential or proprietary information in the course of my employment with the Company or to refrain from competing, directly or indirectly, with the business of such previous employer
or any other party. I further represent that my performance of all the terms of this Agreement as an employee of the Company does not and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by me
in confidence or in trust prior to my employment with the Company. I will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any previous employer or others. 

10. Remedies Upon Breach. I understand that the restrictions contained in this Agreement are necessary for the protection of the business and
goodwill of the Company and I consider them to be reasonable for such purpose. Any breach of this Agreement is likely to cause the Company substantial and irrevocable damage and therefore, in the event of such breach, the Company, in addition to
such other remedies which may be available, will be entitled to specific performance and other injunctive relief. If I violate this Agreement, in addition to all other remedies available to the Company at law, in equity, and under contract, I agree
that I shall be obligated to pay all the Company’s costs of enforcement of this Agreement, including attorneys’ fees and expenses. 

11. Survival and Assignment by the Company. I understand that my obligations under this Agreement will continue in accordance with its express
terms regardless of any changes in my title, position, duties, salary, compensation or benefits or other terms and conditions of employment. I further understand that my obligations under this Agreement will continue following the termination of my
employment with the Company regardless of the manner of such termination and will be binding upon my heirs, executors and administrators. The Company will have the right to assign this Agreement to its affiliates, successors and assigns. I expressly
consent to be bound by the provisions of this Agreement for the benefit of the Company or any 

  
 4 

 
parent, subsidiary or affiliate to whose employ I may be transferred without the necessity that this Agreement be re-executed at the time of such transfer. 

12. Disclosure to Future Employers; Notification of Post-Employment Activities. I will provide a copy of this Agreement to any prospective
employer, partner or co-venturer prior to entering into an employment, partnership or other business relationship with such person or entity during the Restricted Period. For twelve (12) months following termination of my employment, I will
notify the Company of any change in my address and of each subsequent employment or business activity, including the name and address of my employer or other post-Company employment plans and the nature of my activities. 

13. Severability. In case any provisions (or portions thereof) contained in this Agreement shall, for any reason, be held invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been
contained herein. If, moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and
reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear. 
 14. Interpretation;
Modification; Waiver. This Agreement will be deemed to be made and entered into, and will in all respects be interpreted, enforced and governed under the laws of the State of New Jersey without giving effect to the conflict of laws principles of
such state. I hereby agree to consent to personal jurisdiction of the state and federal courts situated within the State of New Jersey for purposes of enforcing this Agreement, and waive any objection that I might have to personal jurisdiction or
venue in those courts. Any claims or legal actions arising from this Agreement shall be commenced and maintained solely in a state or federal court located in the State of New Jersey I acknowledge and agree that this Agreement may not be modified or
terminated and no breach will be deemed waived unless agreed to in a formal writing signed by me and a duly authorized representative of the Company. 
 15. No Employment Obligation. I understand that this Agreement does not create an obligation on the Company or any other person to continue my employment. I acknowledge that, unless otherwise
agreed in a formal written employment agreement signed on behalf of the Company by an authorized officer, my employment with the Company is at will and therefore may be terminated by the Company or me at any time and for any reason, with or without
cause. 

  
 5 

 I UNDERSTAND THAT THIS AGREEMENT AFFECTS IMPORTANT RIGHTS. BY SIGNING BELOW, I CERTIFY
THAT I HAVE READ IT CAREFULLY AND AM SATISFIED THAT I UNDERSTAND IT COMPLETELY. 
 IN WITNESS WHEREOF, the
undersigned has executed this agreement as a sealed instrument as of the date set forth below: 
  

			
	BY:	 	John F. Thero
		
	Signed:	 	 /s/ John F. Thero

		
	Date:	 	 December 23, 2011

  
 6

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