Document:

Stock and Warrant Purchase Agreement

 Exhibit 10.3 
 STOCK AND WARRANT PURCHASE AGREEMENT 
 THIS STOCK AND WARRANT PURCHASE
AGREEMENT (this “Agreement”) is made as of June 30, 2011, between Zogenix, Inc., a corporation organized under the laws of the State of Delaware (the “Company”), and Cowen Healthcare Royalty Partners II, L.P.,
a limited partnership organized under the laws of the State of Delaware (the “Purchaser”). 
 WHEREAS, the
parties desire that, upon the terms and subject to the conditions and limitations set forth herein, the Company shall issue and sell to the Purchaser, as provided herein, and the Purchaser shall purchase from the Company, the Shares (as defined
below); 
 WHEREAS, the parties desire that, upon the terms and subject to the conditions and limitations set forth herein, the
Company shall issue and sell to the Purchaser, as provided herein, and the Purchaser shall purchase from the Company, the Warrants (as defined herein) (collectively with the Shares, the “Securities”); and 

WHEREAS, such issuances will be made in reliance upon the provisions of Section 4(2) and Regulation D (“Regulation
D”) of the United States Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), and/or upon such other exemption from the registration requirements of the Securities
Act as may be available with respect to any or all of the issuances of the Shares to be made hereunder; and 
 WHEREAS, the
parties hereto are concurrently entering into a Financing Agreement (the “Financing Agreement”). Defined terms used without definition in this Agreement shall have the meaning given them in the Financing Agreement. 

NOW, THEREFORE, IN CONSIDERATION of the mutual agreements and covenants contained in this Agreement, the Company and the Purchaser agree
as follows: 
 SECTION 1. Authorization of Sale of the Securities. Subject to the terms and conditions of this
Agreement, the Company has authorized: 
 1.1 the issuance and sale to the Purchaser of an aggregate number of shares of the
Company’s common stock, par value $0.001 per share (“Common Stock”) equal to the number obtained by dividing (a) One Million Five Hundred Thousand Dollars ($1,500,000) by (b) the Purchase Price (as defined below) (the
shares of Common Stock to be sold under this Agreement shall be referred to herein as the “Shares”); and 
 1.2
the issuance to the Purchaser of warrants to purchase up to Two Hundred Twenty Five Thousand (225,000) shares of Common Stock, in the form attached hereto as Exhibit A (the “Warrants”), on the terms and conditions set
forth in the Warrants. 
 SECTION 2. Agreement to Sell and Purchase the Securities. On the Closing Date, the
Company will sell to the Purchaser, and the Purchaser will buy from the Company, upon the terms and conditions hereinafter set forth, the Shares at a price per share (the “Purchase Price”) equal to $3.86. 

 SECTION 3. Delivery of the Securities at the Closing. 

3.1 Closing. The completion of the purchase and sale of the Securities shall occur on the Closing Date (the
“Closing”). On the Closing Date, the Company shall deliver to the Purchaser (a) evidence of issuance reasonably satisfactory to the Purchaser of a stock certificate registered in the name of the Purchaser representing the
number of Shares set forth in Section 1 above and bearing appropriate legends referring to the fact that the Shares were sold in reliance upon an exemption from registration under the Securities Act (with delivery to the Purchaser of such
original certificate promptly following the Closing Date) and (b) the Warrants. The Company’s obligation to complete the purchase and sale of the Securities and deliver such stock certificate and Warrants to the Purchaser at the Closing
shall be subject to the following conditions, any one or more of which may be waived by the Company: (A) the Company’s receipt of the Revenue Investment Amount; and (B) the Purchaser’s fulfillment in all material respects of
those undertakings of the Purchaser to be fulfilled prior to the Closing under this Agreement. 
 SECTION 4.
Representations, Warranties and Covenants of the Company. The Company hereby represents and warrants to, and covenants with, the Purchaser, as of the date hereof and as of the Closing Date, as follows: 

4.1 Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under
the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and as proposed to be conducted. The Company is qualified to do business as a foreign corporation in each jurisdiction in
which qualification is required, except where failure to so qualify would not be reasonably expected to (a) materially impair or delay the Company’s ability to consummate the transactions contemplated hereby in accordance with the terms
hereof or (b) have a material adverse effect upon the business, condition (financial or otherwise), properties or operations of the Company, taken as a whole (each of the foregoing (a) or (b), a “Material Adverse Effect”).

 4.2 Due Execution, Delivery and Performance of this Agreement. The Company has corporate power and authority
(i) to enter into this Agreement and perform the transactions contemplated hereby; (ii) to issue the Shares, the Warrants and any shares of Common Stock issuable upon exercise of the Warrants (the “Warrant
Shares”), in the manner and for the purpose contemplated by this Agreement; and (iii) to execute, deliver and perform its obligations under all other agreements and instruments executed and delivered by it pursuant to or
in connection with this Agreement. All corporate action on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations of the Company
hereunder has been taken or will be taken prior to the Closing. This Agreement has been duly authorized, executed and delivered by the Company. The execution, delivery and performance of this Agreement by the Company and the consummation of the
transactions herein contemplated (i) will not conflict with, result in the breach or violation of, or constitute, either by itself or upon notice or the passage of time or both, a default under, and will not result in the creation of any lien,
charge, security interest or encumbrance upon any assets of the Company pursuant to the terms or provisions of (A) any agreement, mortgage, deed of trust, lease, franchise, license, indenture, permit or other instrument to which the Company is
a party or by which the Company or any of its properties 

 
may be bound or affected and in each case which is likely to result in a Material Adverse Effect, or (B) any statute, ordinance, code, rule or regulation, or any judgment, decree, order,
rule or regulation of any court or any regulatory body, administrative agency or other governmental body (including any self-regulatory organization) applicable to the Company or any of its assets or properties where such conflict, breach, violation
or default is likely to result in a Material Adverse Effect (provided, however, that with respect to the sale of the Shares hereunder being made in a transaction exempt from registration under the Securities Act, the Company assumes
the accuracy of the representations and warranties of the Purchaser in Section 5.2 of this Agreement), and (ii) will not violate any provision of the certificate of incorporation or bylaws of the Company. No consent, approval,
authorization or other order of any court, regulatory body, administrative agency or other governmental body (including any self-regulatory organization) is required for the execution and delivery of this Agreement or the consummation of the
transactions contemplated by this Agreement, except such as have been obtained under the federal or state securities or Blue Sky laws or as shall be obtained following the Closing as permitted by and pursuant to such laws. No consent, approval,
authorization or other order of any other third party is required for the execution and delivery of this Agreement or the consummation of the transactions contemplated by this Agreement, except such as have been obtained or as shall be obtained
prior to the Closing. Upon the execution and delivery of this Agreement, and assuming the valid execution of the Agreement by the Purchaser, this Agreement will constitute a valid and binding obligation of the Company, enforceable in accordance with
its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting enforcement of creditors’ rights generally and except as enforceability may be limited by laws
relating to the availability of specific performance, injunctive relief or other equitable remedies. 
 4.3 Valid Issuance of
Securities. The Securities, when issued and paid for in compliance with the provisions of this Agreement, will be validly issued, fully paid and non- assessable. Assuming the accuracy of the representations of the Purchaser in this Agreement,
the Securities will be issued in compliance with all applicable federal and state securities laws and will be free of any liens or encumbrances; provided, however, that the Securities and the Warrant Shares may be subject to restrictions on
transfer under state and/or federal securities laws as set forth herein, and as may be required by future changes in such laws. 

4.4 No Actions. There are no legal or governmental actions, suits or proceedings pending or, to the Company’s knowledge,
threatened in writing involving the Company which, individually or in the aggregate, would reasonably be expected to result in the issuance of an order restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the
transactions contemplated by this Agreement. 
 4.5 SEC Reports and Financial Statements. Each form, report, schedule,
registration statement, definitive proxy statement and other document (together with all amendments thereof and supplements thereto) filed by the Company with the SEC since January 1, 2010 (in the case of any registration statement, as of its
effective date, and with respect to all documents filed by the Company with the SEC, as of their respective filing dates and thereafter as of the date such documents have since the time of their filing been amended or supplemented, the
“Company SEC Reports”), which are all the documents (other than preliminary material) that the Company was required to file with the SEC since such date, (i) complied in all material 

 
respects with the requirements of the Securities Act, the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), and the rules and regulations promulgated thereunder,
as the case may be, (ii) did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading, and (iii) were timely filed with the SEC. The audited financial statements and unaudited interim financial statements (including, in each case, the notes, if any, thereto) included in the Company SEC Reports (the
“Company Financial Statements”) complied as to form in all material respects with the published rules and regulations of the SEC with respect thereto, were prepared in accordance with GAAP applied on a consistent basis during the
periods involved (except as may be indicated therein or in the notes thereto and except with respect to unaudited statements as permitted by Form 10-Q of the SEC) and fairly present (subject, in the case of the unaudited interim financial
statements, to normal, recurring year-end audit adjustments (which are not expected to be, individually or in the aggregate, materially adverse to Company taken as a whole)) in all material respects the financial position of Company as at the
respective dates thereof and the results of operations and cash flows for the respective periods then ended. 
 4.6 Absence
of Certain Changes or Events. Except as disclosed in the Company SEC Reports, since December 31, 2010, there has not been any change, event or development that has had, or that is likely to have, individually or in the aggregate, a Material
Adverse Effect. 
 4.7 Absence of Undisclosed Liabilities. Except for matters reflected or reserved against in the
balance sheet for the period ended December 31, 2010, and included in the Company Financial Statements, the Company did not have at such date, nor has it incurred since that date, any liabilities or obligations (whether absolute, accrued,
contingent, fixed or otherwise, or whether due or to become due) of any nature that would be required by GAAP to be reflected on a balance sheet of the Company (including the notes thereto), except liabilities or obligations (i) which were
incurred in the ordinary course of business consistent with past practice, (ii) which have been reported in the Company SEC Reports, or (iii) which have not had, and are not likely to have, individually or in the aggregate, a Material
Adverse Effect. 
 4.8 Capitalization; Options and Warrants. The authorized capital stock of the Company consists of
100,000,000 shares of Common Stock, par value $0.001 per share, and 10,000,000 shares of Preferred Stock, par value $0.001 per share. As of May 31, 2011, 34,021,483 shares of Common Stock and no shares of Preferred Stock were issued and
outstanding. Except for the transactions contemplated hereby and except as set forth in the Company’s SEC Reports, since December 31, 2010, the Company has not granted or agreed to grant any option (except for stock options granted under
the Company’s stock option plans), warrants, rights (including conversion or preemptive rights, except for stock purchased under the Company’s employee stock purchase plan), or similar rights to any person or entity to purchase or acquire
any rights with respect to any shares of capital stock of the Company that in the aggregate exceed 500,000 shares. No shares of capital stock of the Company are subject to preemptive rights or any other similar rights. 

4.9 Nasdaq Capital Market Designation. The Common Stock is currently listed on the Nasdaq Capital Market and the Company knows of
no reason or set of facts which 

 
is likely to result in the termination of listing of the Common Stock on Nasdaq or the inability of such stock to continue to be listed on Nasdaq. Nothing in this Agreement shall be interpreted
to preclude the Company from listing its Common Stock on a national securities exchange in lieu of Nasdaq. 
 4.10 Material
Non-Public Information. Except for this Agreement, and the transactions contemplated hereby and pursuant to the Financing Agreement, neither the Company nor its employees have disclosed to the Purchaser any material non-public information that,
according to applicable law, rule or regulation, should have been disclosed publicly by the Company prior to the date hereof but which has not been so disclosed. 
 4.11 No General Solicitation or Advertising in Regard to this Transaction. Neither the Company nor any of its affiliates or any Person acting on its or their behalf (i) has conducted any
general solicitation (as that term is used in Rule 502(c) of Regulation D) or general advertising with respect to any of the Securities or (ii) has made any offers or sales of any security or solicited any offers to buy any security under any
circumstances that would require registration of the Securities under the Securities Act. 
 4.12 Accuracy of Representations
and Warranties. No representation or warranty by the Company contained in this Agreement, and no statement contained in any exhibit, schedule, disclosure, certificate, list or other instrument delivered or to be delivered to the Purchaser
pursuant hereto contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements contained herein or therein not misleading. 

4.13 Compliance with Laws. To the knowledge of the Company, neither the Company nor any of the Company’s subsidiaries are in
violation of any federal, state, provincial, county, municipal or local laws, ordinances or regulations governing the conduct of the Company’s business or the operation of the Company’s property, except such violations which, individually
or in the aggregate, would not have a Material Adverse Effect. Neither the Company nor any of the Company’s subsidiaries has, since December 31, 2010, received any notice that any such violation will be or is being alleged. 

4.14 Certificate. At the Closing, the Company will deliver to the Purchaser a certificate executed by the President and the chief
financial or accounting officer of the Company (solely in their capacities as such), dated the Closing Date, in form and substance reasonably satisfactory to the Purchaser, to the effect that the representations and warranties of the Company set
forth in this Section 4 are true and correct in all material respects as of the Closing Date, and the Company has complied in all material respects with all the agreements and satisfied all the conditions herein on its part to be performed or
satisfied on or prior to the Closing Date. 
 SECTION 5. Representations, Warranties and Covenants of the Purchaser.

 5.1 Authorization. The Purchaser represents and warrants to, and covenants with, the Company that (i) the
Purchaser has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement,
and (ii) upon the execution and delivery of this Agreement, this Agreement shall constitute a legal, valid 

 
and binding obligation of the Purchaser, enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting enforcement of creditors’ and contracting parties’ rights generally and except as enforceability may be limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies. 
 5.2 Representations Regarding Investment Background and Acknowledgments. 

(a) The Purchaser represents and warrants to, and covenants with, the Company that: (i) the Purchaser is knowledgeable,
sophisticated and experienced in making, and is qualified to make, decisions with respect to investments in shares representing an investment decision like that involved in the purchase of the Securities; (ii) the Purchaser is acquiring the
Securities for its own account for investment only and with no present intention of distributing any of such Securities or any arrangement or understanding with any other persons regarding the distribution of such Securities; (iii) the
Purchaser will not, directly or indirectly, offer, sell, pledge, sell short, transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) any of the Securities except in compliance with the
Securities Act, the Exchange Act, the rules and regulations promulgated thereunder, and any applicable state securities or blue sky laws; and (iv) the Purchaser is an “accredited investor” within the meaning of Rule 501(a) of
Regulation D promulgated under the Securities Act. 
 (b) The Purchaser understands that the Securities are being offered and
sold to it in reliance upon specific exemptions from the registration requirements of the Securities Act, its rules and regulations, and state securities laws and that the Company is relying upon the truth and accuracy of, and the Purchaser’s
compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the
Securities. 
 (c) Under the Securities Act and rules and regulations promulgated thereunder, the Securities may not be resold
without registration except in certain limited circumstances. In this connection, the Purchaser represents that it is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Securities
Act. 
 (d) The Purchaser understands that its investment in the Securities involves a significant degree of risk and that the
market price of the Common Stock has been and continues to be volatile and that no representation is being made as to the future value or trading volume of the Common Stock. 
 (e) The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed upon or made any recommendation or endorsement of the Securities.

 (f) The Purchaser understands that, until such time as the resale of the Securities or the Warrant Shares is registered or
they may be sold pursuant to Rule 144 under the 

 
Securities Act without any restriction as to the number of securities as of a particular date that can then be immediately sold, the Securities and the Warrant Shares may bear restrictive legends
in substantially the following form (and a stop-transfer order may be placed against transfer of the Securities or the Warrant Shares): 
 “The securities represented by this certificate were issued in a transaction that was not registered under the Securities Act of 1933, as amended (the ‘Securities Act’) or any state or
other securities law. The securities may not be sold, pledged, transferred or assigned in the absence of an effective registration statement under the Securities Act, or an opinion of counsel, in form, substance and scope reasonably acceptable to
the Company, that registration is not required under the Securities Act or unless sold pursuant to Rule 144 under the Securities Act.” 
 5.3 Information. The Purchaser and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer
and sale of the Securities which have been requested by the Purchaser. The Purchaser has reviewed or received copies of the Company SEC Reports. The Purchaser and its advisors, if any, have been afforded the opportunity to ask questions of the
Company. The Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Securities. The Purchaser understands that it (and not the Company)
shall be responsible for its own tax liabilities that may arise as a result of this investment or the transactions contemplated by this Agreement. 
 5.4 Trading Restrictions. The Purchaser covenants that neither the Purchaser nor any of its affiliates nor any entity managed or controlled by the Purchaser will, or cause or assist any Person to,
enter into or execute any “short sale” (as such term is defined in Rule 200 of Regulation SHO, or any successor regulation, promulgated by the Commission under the Exchange Act) of any securities of the Company, and that the
Purchaser and its affiliates shall comply with all other applicable laws with respect to trading in the Company’s securities. 
 5.5 Not an Affiliate. The Purchaser is not an officer, director or “affiliate” (as defined in Rule 405 of the Securities Act) of the Company. 

5.6 Manner of Sale. At no time was Purchaser presented with or solicited by or through any leaflet, public promotional meeting,
television advertisement or any other form of general solicitation or advertising, in each case, with respect to an offer or sale of the Shares. 
 5.7 Transfers in Compliance with Agreements and Law. The Purchaser hereby covenants with the Company not to make any sale or other transfer of the Securities or the Warrant Shares without complying
in all material respects with the provisions of this Agreement, and the Purchaser acknowledges and agrees that such Securities and Warrant Shares are not transferable on the books of the Company unless the certificate submitted to the transfer agent
evidencing the Securities or the Warrant Shares is accompanied by a separate certificate executed by an officer of, or other authorized person expressly designated by, the Purchaser, to the effect that the applicable Securities or Warrant Shares
have been sold in accordance with the Securities Act. 

 SECTION 6. Additional Covenants. 

6.1 Nasdaq Notice of Issuance. If required, the Company shall give Nasdaq timely notice of the issuance of the Securities.

 6.2 Additional Information. With a view to making available to the Purchaser the benefits of Rule 144 and any other
rule or regulation of the SEC that may at any time permit the Purchaser to sell securities of the Company to the public without registration, the Company shall: (a) make and keep available adequate current public information, as those terms are
understood and defined in Rule 144, at all times after the date hereof; (b) use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under the Exchange Act; and
(c) so long as the Purchaser owns any Securities or Warrant Shares, furnish the Purchaser forthwith upon request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of Rule
144, the Securities Act, and the Exchange Act; and (ii) such other information as may be reasonably requested in availing the Purchaser of any rule or regulation of the SEC that permits the selling of any such securities without registration.

 6.3 Additional Equity Purchase Obligation. 
 (a) The Company shall reserve for the benefit of the Purchaser shares of Common Stock and/or other equity securities the aggregate fair market value of which is One Million Five Hundred Thousand Dollars
($1,500,000) in the Company’s next bona fide equity financing after the date hereof which results in aggregate gross proceeds to the Company of at least Fifteen Million Dollars ($15,000,000) (a “Subsequent Equity
Financing”), provided, however, that Purchaser shall have no obligation to purchase such shares without the prior approval of Purchaser’s investment committee in its sole discretion. The price to the Purchaser for such
shares or other equity securities that Purchaser elects to purchase shall be equal to the price paid by the other investors in the Subsequent Equity Financing and Purchaser shall have rights, preferences, privileges and obligations no less favorable
to Purchaser than those granted to, and imposed upon, the other investors by virtue of the Subsequent Equity Financing. If and to the extent that Purchaser participates in such Subsequent Equity Financing, Purchaser further agrees to be bound by any
agreements that such other investors enter into in connection with such Subsequent Equity Financing. 
 (b) The Company shall
deliver to the Purchaser, at least five (5) business days prior to the closing of a Subsequent Equity Financing, a written notice of any proposed Subsequent Equity Financing describing the securities being offered and, to the extent known, the
price (or anticipated price range) and other terms upon which such securities are to be offered. 
 (c) Notwithstanding
anything to the contrary herein, (i) in the event the Subsequent Equity Financing is a public offering of the Company’s Common Stock and/or other equity securities, Purchaser shall not participate in such public offering but instead shall

 
purchase such Common Stock and/or other equity securities pursuant to a separate, but concurrent private placement of such securities at a price per share not greater than that offered in such
public offering. 
 (d) If the Company has been advised by counsel, an investment bank, underwriter, placement agent or other
financial advisor that prior notice of the Subsequent Equity Financing could reasonably be expected to jeopardize the ability of the Company to consummate such Subsequent Equity Financing, then, notwithstanding the foregoing, immediately following
the consummation of such Subsequent Equity Financing, the Company shall notify Purchaser of such Subsequent Equity Financing and the Company shall reserve for the benefit of the Purchaser shares of Common Stock and/or other equity securities
otherwise in accordance with this Section 6.3, subject to the rules and regulations of the Commission and the Nasdaq Stock Market LLC. 
 (e) For the avoidance of doubt, Purchaser shall have no right to negotiate any of the terms or conditions of the Subsequent Equity Financing, including without limitation, the price per share, which
negotiation shall be conducted solely among the Company and the other investors in the Subsequent Equity Financing. This Section 6.3 shall not apply to: (i) shares of restricted stock, stock options or other stock awards granted by the
Company to officers, directors, employees, advisors or consultants; (ii) shares of capital stock issued by the Company upon the exercise or conversion of stock options or other stock awards; (iii) shares of capital stock issued by the
Company upon the exercise or conversion of warrants to purchase capital stock of the Company or other convertible securities; or (iv) securities of the Company issued pursuant to strategic transactions, licenses, partnerships, collaborations,
co-promotions, distribution arrangements, product or technology acquisitions, or bank or equipment financings. 
 SECTION 7.
Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be sent by nationally recognized overnight express courier postage prepaid, and shall be deemed given upon receipt and shall be delivered
as addressed as follows: 
  

	 	(a)	if to the Company, to: 

 Zogenix, Inc. 
 12671 High Bluff Drive, Suite 200 

San Diego, CA 92130 
 Attention: Ann D. Rhoads 
 Fax: (858) 259-1166 

 with a copy (which shall not constitute notice) to: 

Latham & Watkins LLP 
 12636 High Bluff Drive, Suite 400 
 San Diego, CA 92130 

Attention: Faye H. Russell, Esq. 
 Fax: (858) 523-5450 
 or to such other person at such other place as the
Company shall designate to the Purchaser in writing; and 
  

	 	(b)	if to the Purchaser, to: 

 Cowen
Healthcare Royalty Partners II, L.P. 
 177 Broad Street, Suite 1101 

Stamford, CT 06901 
 Attention: Todd C. Davis 
 Fax: (646) 562-1293 

with a copy (which shall not constitute notice) to: 
 Cohen Tauber Spievack & Wagner P.C. 
 420 Lexington Avenue, Suite 2400

 New York, NY 10170 
 Attention: Y. Jerry Cohen, Esq. 
 Fax: (212) 586-5800 

or to such other person at such other place as the Purchaser shall designate to the Company in writing. 

SECTION 8. Entire Agreement. This Agreement (and the exhibits hereto, including, without limitation, the Warrants and the Second
Amendment to IRA, defined below) contain the entire understanding of the parties with respect to the specific matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the Purchaser makes any
representation, warranty, covenant or undertaking with respect to such matters. 
 SECTION 9. Changes. This Agreement may
not be modified or amended except pursuant to an instrument in writing signed by the Company and the Purchaser. 
 SECTION 10.
Waiver. Any term or condition of this Agreement may be waived at any time by the party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of
the party waiving such term or condition. No waiver by any party of any term or condition of this Agreement, in any one or more instances, shall be deemed to be or construed as a waiver of the same or any other term or condition of this Agreement on
any future occasion. All remedies, either under this Agreement or by law or otherwise afforded, will be cumulative and not alternative. 

 SECTION 11. Assignment. Except as otherwise expressly provided herein, the respective
rights and obligations of either party under this Agreement shall not be assignable in whole or in part by a party without the prior written consent of the other party, which consent shall not be unreasonably withheld, delayed or conditioned. This
Agreement shall bind and inure to the benefit of parties and their permitted successors and assigns. 
 SECTION 12.
Severability. In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be
affected or impaired thereby. 
 SECTION 13. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York and the federal law of the United States of America, without regard to principles of conflicts of law which would result in the application of the laws of any other jurisdiction other than the laws
of the State of New York and the federal law of the United States of America. Each party hereto hereby submits itself for the purpose of this Agreement and any controversy arising hereunder to the exclusive jurisdiction of the state and federal
courts located in the County of New York, State of New York, USA, and any courts of appeal therefrom, and waives any objection on the grounds of lack of jurisdiction (including venue) to the exercise of such jurisdiction over it by any such courts.

 SECTION 14. Counterparts. This Agreement may be executed in two counterparts, each of which shall constitute an
original, but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties. Facsimile signatures shall be
deemed original signatures. 
 SECTION 15. Headings. The headings of the various sections of this Agreement have been
inserted for convenience of reference only and shall not be deemed to be part of this Agreement. 
 SECTION 16. Survival of
Warranties. The warranties, representations and covenants of each party contained in or made pursuant to this Agreement shall survive the execution and delivery of this Agreement and the Closing, and shall in no way be affected by any
investigation of the subject matter thereof made by or on behalf of the Purchaser or the Company. 
 SECTION 17.
Finder’s Fee. Each party represents that it neither is nor will be obligated for any finders’ fee or commission in connection with this transaction. Each party agrees to indemnify and to hold harmless the other party from any
liability for any commission or compensation in the nature of a finders’ fee (and the costs and expenses of defending against such liability or asserted liability) for which the indemnifying party or any of its officers, partners, employees or
representatives is responsible. 

 SECTION 18. Expenses. Irrespective of whether the Closing is effected, each party
shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this Agreement. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the
prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled. 
 SECTION 19. Registration Rights. Notwithstanding anything herein to the contrary, the Purchaser is entitled to have the Shares and the Warrant Shares registered for resale under the Securities Act
pursuant to an amendment to that certain Third Amended and Restated Investors’ Rights Agreement, dated as of December 2, 2009, as amended through the date hereof. The Second Amendment to the Third Amended and Restated Investors’
Rights Agreement dated as of June 30, 2011 between the Purchaser and the Company is annexed hereto as Exhibit B (the “Second Amendment to IRA”). 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
duly authorized representatives as of the day and year first above written. 
  

			
	ZOGENIX, INC.
		
	 By:
	 	/s/ Ann Rhoads
	 Name: Ann Rhoads

	 Title: CFO

	
	COWEN HEALTHCARE ROYALTY PARTNERS II, L.P.
	
	 By Cowen Healthcare Royalty GP, LLC,

its General Partner

		
	 By:
	 	 /s/ Todd C. Davis

	 Name:
	 	Todd C. Davis
		 	 Title: Managing Director

 WARRANTS 
 See Exhibit 4.12 to the Registrant’s Quarterly Report on Form 10-Q, filed on August 11, 2011 

 EXHIBIT B 
 SECOND AMENDMENT TO IRA 
 See Exhibit 4.13 to the Registrant’s Quarterly
Report on Form 10-Q, filed on August 11, 2011Development and License Agreement

 Exhibit 10.4 
 CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. 
 DEVELOPMENT AND LICENSE AGREEMENT 

BETWEEN 

DURECT CORPORATION 
 AND 
 ZOGENIX, INC. 

DATED AS OF 
 JULY 11, 2011 

 DEVELOPMENT AND LICENSE AGREEMENT 

THIS DEVELOPMENT AND LICENSE AGREEMENT (this “Agreement”), effective July 11, 2011 (“Effective
Date”), is entered into by and between Durect Corporation, a corporation organized and existing under the laws of the State of Delaware, U.S.A. with a place of business at 2 Results Way, Cupertino, CA 95014 (“Durect”), and
Zogenix, Inc., a corporation organized and existing under the laws of Delaware, with a place of business at 12671 High Bluff Drive, Suite 200, San Diego, CA 92130 (“Zogenix”). 

PRELIMINARY STATEMENTS 
 A. DURECT is in the business of developing and commercializing controlled-release pharmaceutical products, extended-release pharmaceutical products, polymer and non-polymer pharmaceutical excipients, and
medical devices for biomedical and non-biomedical applications; 
 B. Zogenix is in the business of developing and
commercializing pharmaceutical products for CNS and pain applications including needle-free, liquid jet drug delivery devices; 

C. Zogenix and Durect have been conducting feasibility evaluation work for a pharmaceutical drug candidate pursuant to the Feasibility
Evaluation Agreement by and between Zogenix and Durect dated October 18, 2007, as amended (the “Feasibility Agreement”); 
 D. As contemplated by Section 8 of the Feasibility Agreement, Zogenix desires to exercise its exclusive option to acquire an exclusive license to the Durect Technology and Durect Technology Patents
(as each is defined below) for the development, commercialization and manufacture of the Product (as defined below); 
 E.
Zogenix desires to engage Durect to conduct specified Product development and Product supply activities, upon the terms and conditions hereinafter set forth; and 
 F. Durect desires to grant such exclusive license rights to Zogenix in respect of Durect Technology and Durect Technology Patents and conduct such Product development and Product supply activities, upon
the terms and conditions hereinafter set forth. 

  
 1 

 AGREEMENT 
 NOW THEREFORE, in consideration of the mutual covenants and agreements provided herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties, intending to be legally bound, hereby agree as follows: 
  

	1.	DEFINITIONS. 

 As used in
this Agreement, the following terms shall have the meanings set forth in this Section 1: 
 1.1 “Active
Agent” means risperidone [***]. 
 1.2 “Affiliate” means, with respect to a Person, any Person that
controls, is controlled by or is under common control with such first Person. For purposes of this definition only, “control” means (a) to possess, directly or indirectly, the power to direct the management or policies of a Person,
whether through ownership of voting securities, by contract relating to voting rights or corporate governance, or (b) to own, directly or indirectly, fifty percent (50%) or more of the outstanding voting securities or other ownership
interest of such Person. 
 1.3 [***], including those Patents which constitute Durect Technology Patents as listed on
Schedule 1.22. 
 1.4 “Applicable Laws” means the applicable laws, rules and regulations, including any
rules, regulations, guidelines or other requirements of the Regulatory Authorities, that may be in effect from time to time. 

1.5 “cGMP” means current Good Manufacturing Practice for medicinal products for human use as set forth in U.S. Code of
Federal Regulations 21 CFR Part 210, 211 et seq., Commission Directive 2003/94/EC the EU Good Manufacturing Practice guideline, Volume 4 for medicinal products for Human and Veterinary Use, the European Pharmacopoeia, and equivalent thereof,
as applicable, each as amended from time to time. 

  
  

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portions. 

 2 

 1.6 “Change of Control” means, as to Zogenix or Durect, (i) the sale
of all or substantially all of such Party’s assets or business relating to this Agreement; (ii) a merger, reorganization or consolidation involving such Party in which the voting securities of such Party outstanding immediately prior
thereto cease to represent at least fifty percent (50%) of the combined voting power of the surviving entity immediately after such merger, reorganization or consolidation; or (iii) when a person or entity, or group of persons or entities,
acting in concert acquire more than fifty percent (50%) of the voting equity securities or management control of such Party. 
 1.7 “Clinical Trial” means an investigation in human subjects and/or patients intended to discover or verify the clinical, pharmacological and/or other pharmacodynamic effects of a
Product, and/or to identify any adverse reactions to a Product, and/or to study absorption, distribution, metabolism, and/or excretion of a Product with the objective of ascertaining its safety, activity and/or efficacy. 

1.8 “CMC” means chemistry, manufacturing and controls. 

1.9 “CMC Data” means CMC data, results and reports that are generated with respect to the Product or the Durect
Technology to the extent incorporated into or utilized in the Product, and that are Controlled at any time during the Term of this Agreement by a Party, or any Affiliate, subcontractor, agent, sublicensee thereof, or jointly by any of the foregoing.

 1.10 “CMO” means a Third Party contract manufacturing organization. 

1.11 “Commercialization” or “Commercialize” means the ongoing process and activities generally engaged
in by a company marketing human pharmaceutical therapeutic products to establish and maintain a presence for such product in a given territory, including offering for sale, selling, marketing, promoting, distributing, importing and exporting such
product. 
 1.12 “Commercially Reasonable Efforts” with respect to any activity means the efforts and resources
that would be used in the development, registration, Reimbursement authorization, market launch, manufacturing and/or performance of the relevant activity in compliance with Applicable Law by a Person (engaged in the development or commercialization
of pharmaceutical products) [***], all as measured by the facts and circumstances at the time such efforts are due. Where this Agreement requires a Party to use Commercially Reasonable Efforts, such efforts and resources that are used by such
Party’s Affiliates, agents, sublicensees and licensees, as relevant, shall also be attributed to such Party. 

  
  

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portions. 

 3 

 1.13 “Competitive Product” means [***]. 

1.14 “Control” or “Controlled” means possession of the right to grant to the other Party a license,
sublicense or other right to use, of the scope provided for in this Agreement, to Intellectual Property Rights (including patent rights, Know-How, trade secrets), data and rights to access or cross-reference regulatory filings without violating the
terms of any Applicable Laws, agreement or other arrangement with any Third Party existing at the time a Party or its Affiliate would be first required hereunder to grant the other Party such license, sublicense or other right. 

1.15 “Cost” means all internal and external costs, expenses, cost of labor and materials associated with an activity.

 1.16 “DMF” means a Drug Master File as filed with a Regulatory Authority containing CMC Data and other
information relevant for seeking and maintaining regulatory approval for a pharmaceutical product. 
 1.17 “Development
Data” means all Preclinical, Non-Clinical and Clinical Trial data, results and reports and CMC Data, including pharmacological, pharmacokinetic and toxicological data, related to the Product or generated in the development of the Product
(including the Active Agent and/or excipients included therein). For clarity, “Development Data” shall include Data (as defined in the Feasibility Agreement). 
 1.18 “Dollars” means U.S. Dollars, the lawful currency of the United States. 
 1.19 “Dosage Form Development” means any pharmaceutical development activities for the Product undertaken in order to design or modify a pharmaceutical formulation or dosage form to meet
the desired clinical or commercial product profile, including in vitro studies on solubility, stability, physical and chemical characteristics, denaturation, particle formation, particle aggregation and settling, crystallization,
micronization, excipient/material selection, compounding, mixing, casting, converting, drying, and similar activities. 

  
  

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portions. 

 4 

 1.20 “DosePro®” means Zogenix’s proprietary needle-free, liquid jet drug delivery device. 
 1.21 “Durect Development Costs” means the Costs incurred by Durect in performing the Durect Development Responsibilities as calculated in accordance with Schedule 1.21. 

1.22 “Durect Technology Patents” means those Patents in the Territory Controlled by Durect or any of its Affiliates at
any time during the Term which relate in whole or in part to Durect Technology to the extent relevant to the manufacture, use or sale of Product in the Field and in the Territory, including as attached hereto as Schedule 1.22, as such list
shall be updated from time to time by Durect. 
 1.23 “Durect Technology” means: (i) any and all Know-How
Controlled by Durect or any of its Affiliates at any time during the Term which relates in whole or in part to polymeric and/or non-polymeric carrier materials and systems (including the SABERTM Formulation Platform and the [***]) for imparting
controlled release or other performance-enhancing qualities to products, including any combination or use of such materials or systems with the Active Agent; and (ii) Durect Project Technology, in each case, to the extent relevant to the
manufacture, use or sale of Product in the Field and in the Territory, including in each case, any and all Intellectual Property Rights therein and thereto. 
 1.24 “EMEA” means the European Medicines Agency, and where and if applicable, the European Commission, the Council of the European Union and the Committee for Medicinal Product for Human
Use or any successors thereto. 
 1.25 “EU” means the European Union, including each of the member states, as modified
from time to time. 
 1.26 “FDA” means the Food and Drug Administration of the United States Department of
Health and Human Services or any successor agency thereof performing similar functions. 
  

 

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portions. 

  
 5 

 1.27 “FDC Act” means the United States Federal Food, Drug, and Cosmetic Act
and any successor acts thereto, as amended from time to time. 
 1.28 “Field” means the treatment of
schizophrenia, bipolar disorder or other psychiatric related disorders in humans. 
 1.29 “First Commercial
Sale” means: (i) with respect to a Jurisdiction, the first sale for use, consumption or resale of the Product by Zogenix or an Affiliate or Sublicensee thereof to a Third Party in a bona fide arms’-length transaction in such
Jurisdiction and (ii) with respect to the Territory, the First Commercial Sale in any Jurisdiction. A sale to an Affiliate shall not constitute a First Commercial Sale unless the Affiliate is the end-user of the Product. 

1.30 “GAAP” means generally accepted accounting principles in the United States, consistently applied by the Party at
issue. 
 1.31 “Governmental Entity” means any regional, central, federal, state, provincial or local court,
commission or governmental, regulatory or administrative body, board, bureau, agency, instrumentality, authority or tribunal or any subdivision thereof. 
 1.32 “ICH Guidelines” means the then-current guidelines applicable to pharmaceutical products adopted by the International Conference on Harmonization. 

1.33 “IND” means an investigational new drug application (together with all subsequent submissions, supplements and
amendments thereto, and any materials, documents or information referred to or relied upon thereby) filed with a Regulatory Authority in conformance with applicable laws and regulations, and the equivalent thereof (or other right to commence
Clinical Trials), as applicable, in Jurisdictions outside the United States. 
 1.34 “Intellectual Property
Rights” means Patents, copyrights, trade secrets, database rights, proprietary know-how and similar rights of any type (excluding trademarks) under the laws of any Governmental Entity, including all applications, registrations, extensions
and renewals relating to any of the foregoing. 
 1.35 “Jurisdiction” means a country within the Territory.

 1.36 “Know-How” means all technical information and other technical subject matter, proprietary methods,
ideas, concepts, formulations, discoveries, inventions, devices, technology, trade secrets, compositions, designs, formulae, know-how, show-how, specifications, drawings, techniques, results, processes, methods, procedures and/or designs, whether or
not patentable. 

  
 6 

 1.37 “Knowledge” means [***]. 

1.38 “Major Market Jurisdiction” means each of [***]. 

1.39 “Marketing Exclusivity Right” means a marketing or data exclusivity right conferred as a result of
(a) designation as a drug for rare diseases or conditions under Sections 525 et seq. of the FDC Act, (b) an exclusive right to sell under an NDA pursuant to Section 505(j)(5)(F)(ii), (iii) and (iv) or
505(c)(3)(E)(ii), (iii) and (iv) of the FDC Act or any relevant subsequent legislation, rules or regulations, (c) the exclusive right granted by the FDA upon completion of pediatric studies requested by the FDA under
Section 505A(a) of the FDC Act, (d) Article 10 of EU Directive 2001/83/EC and/or Article 3(3) of EU Regulation 726/2004/EC or (e) EU Regulations 141/2000/EC and/or 847/2000/E, as applicable, or any equivalent or similar rights in the
Territory or Jurisdiction, successor legislations of any of the foregoing or subsequent legislation that has the effect of extending marketing or data exclusivity right to a pharmaceutical product. 

1.40 “NDA” means a “New Drug Application,” or other application for Regulatory Approval to market a product in
the U.S. submitted to the FDA as amended or supplemented from time to time. 
 1.41 “Non-Clinical,” when used
with respect to studies or data, means safety, toxicology and other studies undertaken in non-human animals in support of Clinical Trials or otherwise in support of Regulatory Approval, or data generated therefrom. 

1.42 “Net Sales” means, with respect to an applicable period, the gross amount invoiced by Zogenix, and/or its
Affiliates and Sublicensees for sale or other commercial disposition of the Product (in final, finished presentation for use by an end-user) to an unrelated Third Party in an arms’-length transaction, minus the following allowances and
other deductions which are actually incurred, allowed, accrued or specifically allocated in their normal and customary amounts: (i) credits, price adjustments or allowances for damaged products, returns

  
  

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 7 

 
or rejections of the Product; (ii) trade, cash and quantity discounts, allowances and credits (including co-pay reduction programs); (iii) chargeback payments, fees and rebates granted
to group purchasing organizations, managed health care organizations, wholesalers, pharmacy benefit management (PBM) or other similar organizations or to federal, state/provincial, local and other governments, including their agencies, or to trade
customers; (iv) any invoiced freight, postage, shipping, insurance and other transportation charges; and (v) sales, value-added, and excise taxes, tariffs and duties, and other taxes directly related to the sale (but not including taxes
assessed against the income derived from such sale). 
 For clarity, Net Sales shall be determined in accordance with GAAP and a
sale or transfer by Zogenix to its Affiliates and/or Sublicensees for resale by such Affiliate and/or Sublicensee shall not be considered a sale for the purpose of this provision but the resale by such Affiliate and/or Sublicensee to a Third Party
shall be a sale for such purposes. Transfer for Preclinical trials and Clinical Trials, testing or market research or promotional purposes shall not be a sale for the purpose of calculating Net Sales. 

1.43 “Party” means Durect or Zogenix, as the case may be, and, when used in the plural, shall mean Durect and Zogenix.

 1.44 “Patent” and “Patents” mean issued patents and patent applications, including any and
all provisionals, continuations, divisionals, continuation-in-part applications, foreign counterparts, substitutions, reissues, renewals, re-examinations, supplementary protection certificates, patent term extensions, adjustments or restoration
rights, registrations, confirmations, successor protective rights or subsequently issued protective rights of similar nature of any of the above. 
 1.45 “Person” means an individual or a corporation, partnership, association, trust, or any other entity or organization, including a government or political subdivision or an agency or
instrumentality thereof. 
 1.46 “Phase II Clinical Trial” means a Clinical Trial which meets the definition of
a Phase 2 trial as set forth in 21 C.F.R. 312.21(b), as amended from time to time, or, if conducted for the purpose of seeking Regulatory Approval in a Jurisdiction other than the U.S., a Clinical Trial that meets the definition of a Phase 2 trial
in the corresponding regulation in such Jurisdiction. 

  
 8 

 1.47 “Phase III Clinical Trial” means a Clinical Trial which meets the
definition of a Phase 3 trial as set forth in 21 C.F.R. 312.21(c), as amended from time to time, or, if conducted for the purpose of seeking Regulatory Approval in a Jurisdiction other than the U.S., a Clinical Trial that meets the definition of a
Phase 3 trial in the corresponding regulation in such Jurisdiction. 
 1.48 “Preclinical,” when used with
respect to studies or data, means preliminary pharmacological studies of a Product or the Durect Technology undertaken in non-human animals, but not necessarily for purposes of submission in support of Regulatory Approval, or data generated
therefrom. 
 1.49 “Pricing” or “Pricing Approval” means any approval or authorization of a
Governmental Entity, establishing a pricing scheme for Product in a Jurisdiction. 
 1.50
“Product” means a formulation (whether or not in combination with DosePro®) containing the
Active Agent as the sole active pharmaceutical ingredient for administration by injection using the Durect Technology or Joint Technology or for which the formulation or method of making or using the same is claimed in the Durect Technology Patents
or Joint Patent Rights. Product(s) shall include the formulation(s) under development pursuant to the Feasibility Agreement and any improvements, reformulations and line extensions thereof including pursuant to the Development Program (hereinafter
“Line Extension(s)”), in each case consisting of a formulation (whether or not in combination with
DosePro®) containing the Active Agent as the sole active pharmaceutical ingredient for administration by
injection using the Durect Technology or Joint Technology or for which the formulation or method of making or using the same is claimed in the Durect Technology Patents or Joint Patent Rights. 

1.51 “Product Specific Patent Rights” means those Durect Technology Patents or one or more claims therein in the
Territory Controlled by Durect or any of its Affiliates at any time during the Term which relate exclusively to the Product. For avoidance of doubt, Product Specific Patent Rights shall not include the SABERTM Formulation Platform or the [***].

  
  

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portions. 

  
 9 

 1.52 “Project Technology” means any and all Know-How (a) conceived,
developed and/or reduced to practice by either Party, an Affiliate of either Party, Sublicensees or any Third Party acting on the behalf of either Party such as a subcontractor or an agent thereof, and (b) arising under or in connection with
the activities contemplated under this Agreement or by using any of the other Party’s Confidential Information. Project Technology shall not include Development Data. 
 1.53 “Regulatory Approval” means, with respect to one or more Jurisdictions, final approval of the Regulatory Approval Application (including, with respect to any Jurisdiction(s) other
than the U.S., any Pricing Approvals and/or Reimbursement Approvals that are commercially necessary prior to commercial sale of the Product in such Jurisdiction(s)) for such Product filed in such Jurisdiction(s), including an approved NDA in the
U.S. or equivalent local final approvals in Jurisdictions. 
 1.54 “Regulatory Approval Application” means a
new drug application, health registration, marketing authorization application, common technical document, regulatory submission, notice of compliance or equivalent application (excluding local and general business licenses and permits) required to
be approved before commercial sale or use of the Product as a pharmaceutical or medicinal product in a Jurisdiction (including, with respect to any Jurisdiction other than the U.S., any Pricing Approvals and/or Reimbursement Approvals that are
commercially necessary prior to commercial sale of such Product in such Jurisdiction), together with all subsequent submissions, supplements and amendments thereto, including an NDA in the U.S. or local approvals in the Jurisdictions as applicable.

 1.55 “Regulatory Authority” means the FDA, the EMEA and any health regulatory authorities in the Territory
or Jurisdiction that hold responsibility for the regulation of and/or the Reimbursement of medicinal products intended for human use. 
 1.56 “Regulatory Documentation” means all submissions to Regulatory Authorities and other Governmental Entities, including for Clinical Trials, Non-Clinical Trials, Preclinical Trials,
tests, and biostudies, relating to the Product, including all INDs, Regulatory Approval Applications and Regulatory Approvals, as well as all correspondence with Governmental Entities (registration and licenses, Pricing and Reimbursement
correspondence, regulatory drug lists, advertising and promotion documents), adverse event files, complaint files, manufacturing records and inspection reports. 

  
 10 

 1.57 “Reimbursement” or “Reimbursement Approval” means the
official decision by the relevant Governmental Entity in any Jurisdiction responsible for establishing a reimbursement scheme to cover the Costs related to the treatment of patients with the Product. 

1.58 “SABERTM Formulation Platform” means Durect’s proprietary injectable non-polymeric, high viscosity liquid
carrier system for imparting controlled release to active ingredients, including any and all Intellectual Property Rights therein and thereto. 
 1.59 “Sublicense” means the sublicense by Zogenix of any of its rights to the Product in the Field to any Third Party in the Territory such that the Third Party has the right to record
sales for its own account in lieu of Zogenix (such Third Party grantee shall be deemed a “Sublicensee”). 

1.60 “Sublicense Fees” means any upfront payments, milestone payments and other license payments (including the fair
market value of debt or equity securities or other consideration) received by Zogenix or any Affiliate thereof as consideration for a Sublicense. Notwithstanding the foregoing, Sublicense Fees shall not include any payments that constitute: [***].

 1.61 “Territory” means all countries of the world, excluding Terminated Countries. 

1.62 “Third Party” means any Person who or which is neither a Party nor an Affiliate of a Party. 

1.63 “U.S.” means the United States of America including all territories and protectorates thereof. 

1.64 “Valid Claim” means, with respect to Product in a particular Jurisdiction, any claim of a Patent that either:

 (a) with respect to a granted and unexpired Patent in such Jurisdiction, that (i) has not been held
permanently revoked, unenforceable or invalid by a decision of a court or other Governmental Entity of competent jurisdiction, which decision is unappealable or unappealed within the time allowed for appeal, and (ii) has not been abandoned,
disclaimed, denied or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise; or 

  
  

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 11 

 (b) with respect to a pending Patent application, that was filed and is
being prosecuted in good faith and has not been abandoned or finally disallowed without the possibility of appeal or re-filing of the application and has not been on file with an applicable patent office for more than [***]. 

1.65 “Zogenix Technology” means: (i) any and all Know-How Controlled by Zogenix relating in
whole or in part to needle-free auto injectors (including DosePro®); and (ii) Zogenix Project Technology,
in each case, to the extent relevant to the manufacture, use or sale of Product in the Field and in the Territory, including in each case, any and all Intellectual Property Rights therein and thereto. 

1.66 “Zogenix Technology Patents” means those Patents in the Territory Controlled by Zogenix or any of its Affiliates
during the Term which relate to Zogenix Technology, including as attached hereto as Schedule 1.66 , as such list shall be updated from time to time by Zogenix. 
 1.67 Other Definitions. 
 Each of the following terms is defined in the
Section set forth opposite such term below: 
 “AAA” – Section 14.11(b) 

“Accelerated Arbitration Provisions” – Section 14.11(b) 

“Adverse Event” – Section 4.5 
 “Agreement” – Preamble 
 “[***]”—Section 1.3

 “[***]”—Section 6.3 
 “Annual Net Sales Period” – Section 6.2(a) 

“Audited Party” – Section 7.5 
 “Auditing Party” – Section 7.5 
 “Confidential
Information” – Section 10.3 
  
  

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 12 

 “CRO” – Section 13.6(b)(iii) 

“Damages” – Section 12.1 
 “Designated Executives” – Section 2.1(d) 

“Development Plan” – Section 4.1 
 “Development Program” – Section 4.1 

“Dispute” – Section 14.11(b) 
 “Durect” – Preamble 
 “Durect Development
Responsibilities” – Section 4.4(a) 
 “Durect Project Technology” – Section 9.1(b)

 “Durect Related Party” – Section 12.2 

“Durect Work Plan” – Section 4.4(a) 
 “Durect Work Plan Budget” – Section 4.4(a) 

“Effective Date” – Preamble 
 “Expedited Rules” – Section 14.11(b) 
 “Feasibility
Agreement” – Preliminary Statements 
 “Force Majeure”– Section 14.13 

“Indemnified Party” – Section 12.4 
 “Indemnifying Party” – Section 12.4 
 “Joint
Development Committee” or “JDC” – Section 2.1(a) 
 “Joint Technology”
– Section 9.1(c) 
 “Joint Patent Rights” – Section 9.2(b) 

“Know-How Royalties” – Section 6.2 
 “Know-How Royalty Term” – Section 6.2(b) 
 “Line
Extensions” – Section 1.50 
 “One-Time Payment” – Section 6.1 

“Orange Book” – Section 9.2(d) 
 “Other Project Technology” – Section 9.1(d) 

“Patent Litigation Losses” – Section 9.6(c) 
 “Patent Royalties” – Section 6.2 
 “Patent Royalty
Term” – Section 6.2(a) 
 “Product Formulation” – Section 8.1 

“Product Material” – Section 13.6(b)(ii) 
 “Product Trademarks” – Section 3.5(a) 

  
 13 

 “Resolution Period” – Section 2.1(d) 

“Royalties” – Section 6.2 
 “Serious Adverse Drug Experience” – Section 4.5 

“Sublicensee” – Section 1.59 
 “Supply Agreement” – Section 8.2 
 “Technical
Agreement” – Section 8.2 
 “Term” – Section 13.1 

“Terminated Country” – Section 5.2 
 “Third Party License Fees” – Section 9.6(e) 

“Zogenix” – Preamble 
 “Zogenix Project Technology” – Section 9.1(a) 

“Zogenix Related Party” – Section 12.1 
 1.68 Interpretation 
 (a) Whenever any provision of this
Agreement uses the term “including” (or “includes”), such term shall be deemed to mean “including without limitation” and “including but not limited to” (or “includes without limitation” and
“includes but is not limited to”) regardless of whether the words “without limitation” or “but not limited to” actually follow the term “including” (or “includes”); 

(b) “Herein”, “hereby”, “hereunder”, “hereof” and other equivalent words shall
refer to this Agreement in its entirety and not solely to the particular portion of this Agreement in which any such word is used; 
 (c) All definitions set forth herein shall be deemed applicable whether the words defined are used herein in the singular or the plural; 

(d) Wherever used herein, any pronoun or pronouns shall be deemed to include both the singular and plural and to cover all
genders; 
 (e) The recitals set forth at the start of this Agreement, along with the Exhibits and Schedules to
this Agreement, and the terms and conditions incorporated in such recital, Exhibits and Schedules shall be deemed integral parts of this Agreement and all references in this Agreement to this Agreement shall encompass such recitals, Exhibits and
Schedules and 

  
 14 

 
the terms and conditions incorporated in such recitals, Exhibits and Schedules, provided, that in the event of any conflict between the terms and conditions of this Agreement and any terms
and conditions set forth in the Exhibits and Schedules, the terms of this Agreement shall control; 
 (f) In the
event of any conflict between the terms and conditions of this Agreement and any terms and conditions that may be set forth on any order, invoice, verbal agreement or otherwise, the terms and conditions of this Agreement shall govern; 

(g) The Agreement shall be construed as if both Parties drafted it jointly, and shall not be construed against either
Party as principal drafter; 
 (h) Unless otherwise provided, all references to Sections, Schedules and Exhibits
in this Agreement are to Sections, Schedules and Exhibits of and to this Agreement; 
 (i) All references to
days, months, quarters or years are references to calendar days, calendar months, calendar quarters or calendar years unless otherwise expressly provided; references to a “business day” herein shall mean a day when both Zogenix and Durect
corporate headquarters are open during regular business hours for the conduct of normal business operations; 

(j) Any reference to any federal, national, state, local or foreign statute or law shall be deemed to also refer to all
rules and regulations promulgated thereunder, unless the context requires otherwise; 
 (k) Any requirements of
notice or notification by one Party to another shall be construed to mean written notice in accordance with Section 14.4; and 
 (l) Wherever used, the word “shall” and the word “will” are each understood to be imperative or mandatory in nature and are interchangeable with one another. 

 

	2.	GOVERNANCE. 

 2.1 Joint
Development Committee. 
 (a) Members; Officers. The Parties hereby establish a joint development
committee (the “Joint Development Committee” or “JDC”), which shall consist of up to eight (8) members with an equal number of members nominated by each of Durect and Zogenix.

  
 15 

 
The initial members of the JDC are set forth on Schedule 2.1, as may be amended by the designating Party from time to time. Such representatives shall be employees or consultants (so long
as they are under confidentiality obligations as stringent as those contained in this Agreement) of each such Party or its Affiliates, and those representatives of each such Party shall, individually or collectively, have expertise in pharmaceutical
drug development, regulatory matters, manufacturing, Clinical Trials, Non-Clinical studies and/or other expertise to the extent relevant. Durect and Zogenix may each replace any or all of its representatives on the JDC at any time upon written
notice to the other Party. Durect and Zogenix each may, in its discretion, invite non-member representatives that are employees of such Party (or such Party’s Affiliates) and consultants (who are under confidentiality obligations as stringent
as those contained in this Agreement) to attend meetings of the JDC. [***]. The chairperson shall appoint a secretary of the JDC, and such secretary shall serve for such term as designated by the chairperson. 

(b) Responsibilities. The JDC shall perform the following functions: 

(i) oversee the interactions of the Parties pursuant to the terms of the Agreement; 

(ii) review the progress of the Development Program [***]; 

(iii) review any material deviations in the conduct of the Development Program from the Development Plan; 

(iv) review further development activities after Regulatory Approval of the Product [***], including Phase IV Clinical
Trials; 
 (v) review the development of any Line Extensions [***]; 

(vi) [***]; 
 (vii) facilitate the exchange of information and coordinate between the Parties as necessary or useful for the Development [***]; and 

 
  

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 (viii) have such other responsibilities as may be mutually agreed upon by
the Parties from time to time. 
 For clarity, any exchange of information at JDC meetings shall be subject to any
confidentiality obligations imposed by Third Party agreements. 
 (c) Meetings. The JDC shall meet in
person, by video teleconference or by telephone at least once every six (6) months and more frequently as Durect and Zogenix deem appropriate or on such dates, and at such places and times, as the Parties shall agree. From time to time, each
Party may request a JDC meeting upon notice to the other Party specifying the subject matters to be discussed, and the Parties shall convene such JDC meeting within twenty (20) business days of the date of the notice. Meetings of the JDC that
are held in person shall alternate between the offices of Durect and Zogenix (or the offices of their Affiliates designated by such Parties), or such other place as the Parties may agree. The members of the JDC also may convene or be polled or
consulted from time to time by means of telecommunications, video conferences, electronic mail or correspondence, as deemed necessary or appropriate. 
 (d) Decision-making. The JDC may make decisions with respect to any subject matter that is subject to the JDC’s decision-making authority as set forth in Section 2.1(b); [***]. All
decisions of the JDC shall be made by unanimous vote or written consent, with Durect and Zogenix each having, collectively, one vote in all decisions. The JDC shall use good faith and reasonable efforts to resolve the matters within its roles and
functions or otherwise referred to it. With respect to all matters that are subject to the JDC’s decision-making authority, if the JDC cannot reach consensus within [***] after it has met and attempted to reach such consensus, the matter shall
be referred on the [***] to the designated executive officers (“Designated Executives”) of Zogenix and Durect who shall meet as soon as practicable, but no later than [***] after such referral, to attempt in good faith to resolve
the dispute. If the dispute related to the matter is not resolved by the Designated Executives by mutual agreement within [***] after a meeting to discuss the dispute (such [***] period after the meeting of the Designated Executives shall be
referred to as the “Resolution Period”), then 

  
  

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 17 

 
the chairperson [***] may make the final decision relating to the matter after good faith due consideration to [***]. For clarity, the JDC shall not have the authority to amend or waive any
provision of this Agreement or to make any determination that any Party is in breach of this Agreement. 
 2.2 Minutes of JDC
Meetings. 
 (a) Definitive minutes of all JDC meetings shall be finalized no later than fifteen
(15) business days after the meeting to which the minutes pertain, as follows: 
 (i) Within five
(5) business days after a JDC meeting, the secretary of the JDC shall prepare and distribute to all members of the JDC draft minutes of the meeting. Such minutes shall provide a list of any actions, decisions or determinations by the JDC and a
list of any issues yet to be resolved (listing responsible persons and target completion dates), either within the JDC, or through the relevant escalation process. 

(ii) The secretary of the JDC shall have ten (10) business days after distribution of the draft minutes to discuss
the JDC members’ comments and finalize the minutes. The secretary and chairperson(s) of the JDC shall each sign and date the final minutes. 
 (b) If at any time during the preparation and finalization of the JDC meeting minutes, the JDC members do not agree on any issue with respect to the minutes, such issue shall be resolved as provided in
Section 2.1(d). The decision resulting from the foregoing process shall be recorded by the secretary in amended finalized minutes for said meeting. All other issues in the minutes that are not subject to the foregoing process shall be finalized
within the fifteen (15)-business day period as provided in Section 2.2(a). 
 2.3 Duration of JDC. The JDC’s
existence shall terminate upon and coincident with the earlier of: (a) the completion of the Development Program, (b) [***], in each case in the Territory, or (c) thirty (30) days following Zogenix’s receipt of written
notice from Durect of its desire to terminate the JDC’s existence. 
 2.4 Expenses. Each Party shall be responsible
for all travel and related Costs for its members and other representatives to attend meetings of, and otherwise participate on, the JDC. 

  
  

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 2.5 Scope of JDC. Zogenix and Durect have chartered the JDC with a belief that
vigorous interaction and cooperation between the Parties are essential for the successful development of the Product. Nothing in this Section 2 shall be deemed to modify or supersede any term or condition set forth in this Agreement, nor any
decision or decision-making authority expressly provided to a Party in this Agreement. 
  

	3.	GRANT OF RIGHTS; EXCLUSIVITY. 

3.1 Rights Granted to Zogenix. On the terms and subject to the conditions of this Agreement, Durect hereby grants to Zogenix:

 (a) the exclusive right and license to make and have made (subject to Section 8), use, offer for sale,
sell and import the Product in the Field and in the Territory, including the right to record sales for its own account; 
 (b) in each case, solely for use in the Field and Territory and to develop and Commercialize the Product and to otherwise exercise Zogenix’s rights and perform its obligations under this Agreement,
an exclusive license under the Durect Technology, the Durect Technology Patents (including Product Specific Patent Rights) and Durect’s rights in the Joint Technology, Joint Patent Rights, Other Project Technology and Patents thereto; provided,
however, the license granted to Zogenix in this Section 3.1 with respect to the [***] shall be subject to the terms and conditions of the [***]; and 
 (c) an exclusive license and the right of use and cross-reference to all Development Data Controlled by Durect solely to exercise Zogenix’s rights under Section 3.1(a) and (b) above.

 3.2 Sublicense Rights. Zogenix shall have the right, [***], to delegate rights and obligations hereunder to an
Affiliate and to appoint Affiliates to develop, manufacture or Commercialize the Product in the Territory. Furthermore, Zogenix shall have the right to appoint any Third Party sublicensee(s) or designee(s) to develop, manufacture or Commercialize
the Product in the Territory alone or in combination with Zogenix or its Affiliates and/or to 

  
  

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sublicense the rights granted to it under Section 3.1; provided that in the event of any sublicense or delegation of rights by Zogenix hereunder, such sublicense or delegation shall
be subject to the terms and conditions of this Agreement that, by their terms, are applicable to the Product and to such sublicense or delegation, such Third Party sublicensee(s) or designee(s) shall be subject to the same obligations as applicable
to Zogenix with respect to the activities sublicensed or delegated as to such sublicensee’s territory and field, and Zogenix shall ensure that each sublicense agreement contains terms to implement such obligations. Notwithstanding the
foregoing, the sublicense or delegation by Zogenix hereunder shall not relieve Zogenix of its obligations under the Agreement. 

3.3 Section 365(n) of the Bankruptcy Code. All rights and licenses granted under or pursuant to this Agreement, including
amendments hereto, by each Party to the other Party are, for all purposes of 11 U.S.C. Section 365(n), licenses of rights to intellectual property as defined in Title 11. Each Party may elect to retain and may fully exercise all of its rights
and elections under 11 U.S.C. Section 365(n). 
 3.4 Exclusivity. Subject to the terms and conditions of this
Agreement (including the exclusive license grant to Zogenix): 
 (a) [***]. 

(b) [***]. 
 (c) On a Jurisdiction-by-Jurisdiction basis, neither Party nor its Affiliates (nor any Third Party recipient of a Sublicense from Zogenix in the territory subject to the Sublicense) shall [***].
Notwithstanding the foregoing, however, in the event of [***]. 
 3.5 Trademarks; Logos. 

(a) Product Trademarks. Zogenix shall have the right to select the Product names and all trademarks used in
connection with the marketing, promotion and Commercialization of the Product including special promotional or advertising taglines, in each case in the Territory (all such trademarks specific to the Product and including all

  
  

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goodwill associated therewith, and all applications, registrations, extensions and renewals relating thereto, shall be referred to as “Product Trademarks”). For clarity, Product
Trademarks shall not include Zogenix® or DosePro®. During the Term, Zogenix shall be the exclusive owner of the Product Trademarks and all goodwill associated therewith, and shall use Commercially Reasonable Efforts
to register and maintain, at its Cost, such Product Trademarks as shall be used for Commercialization of the Product in the Territory. 
 (b) Reference to Durect as Licensor. To the extent permitted by Applicable Laws, at Durect’s election, the labels and packaging of all Product to be marketed, distributed or sold in any
Jurisdiction shall include text identifying Durect as the licensor of the Product and a Durect trademark selected by Durect to be placed in a size and location reasonably agreed to by the Parties, provided that such mark: (i) is used in
a consistent and noticeable manner sufficient to constitute trademark usage under Applicable Law, (ii) is clearly identified as a trademark (i.e., through the use of a “®”, “TM” or other appropriate identifier), and (iii) is not used as combination marks with other marks or trademarks. Furthermore, Product
labels and packaging shall bear appropriate patent markings and notices as may be applicable, and are acceptable to all applicable Regulatory Authorities. 
 3.6 License to Zogenix Technology. Subject to the terms and conditions of this Agreement, Zogenix hereby grants to Durect a non-exclusive, royalty-free license, without the right to sublicense,
under the Zogenix Technology and Zogenix Technology Patents and Zogenix’s rights in the Joint Technology, Joint Patent Rights, Other Project Technology and Patents thereto solely to perform Durect’s obligations under the Development
Program. 
  

	4.	DEVELOPMENT AND REGULATORY. 

 4.1
Development Program; Development Plan. Zogenix will prepare a written plan (the “Development Plan”) covering the program for developing the Product [***] (the “Development Program”). The Development Plan will
reflect Zogenix’s reasonable estimate of the steps necessary to [***]. The Development Plan will include, among other things, activities related to CMC development, Clinical and Non-Clinical development, [***], validation

  
  

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activities associated with manufacturing of Product for use in Clinical Trials, process development, scale-up for providing clinical supplies, and technology transfer as needed to establish
commercial scale manufacturing of the Product in the Territory to meet commercial requirements as reasonably forecasted by Zogenix. The Development Plan shall also contain any other key elements reasonably necessary for the Parties to fulfill their
responsibilities to each other under the terms of the Agreement. The initial Development Plan was agreed between the Parties prior to the Effective Date [***]. Zogenix shall update and provide a copy of the Development Plan to Durect for review and
comment in accordance with [***], beginning in [***] no less frequently than [***]. Zogenix shall consider in good faith all material comments provided by Durect in writing and in reasonable detail to Zogenix on the Development Plan; provided
that Zogenix shall have the sole discretion and authority to make all decisions with respect to the Development Plan; [***]. 
 4.2 Trials and Regulatory. 
 (a) Zogenix shall use
Commercially Reasonable Efforts to conduct Preclinical and Non-Clinical trials, Clinical Trials and CMC and other relevant development activities, at its own Cost (either itself, through Durect, as set forth in Section 4.4 of this Agreement, or
through Third Party contractors), as necessary to seek and maintain Regulatory Approval of at least one Product in the Territory. Zogenix shall also use Commercially Reasonable Efforts to obtain Regulatory Approvals for [***] in the Territory,
including compiling, submitting and prosecuting all necessary data, documents and Regulatory Approval Applications (including labeling), in a format acceptable to the applicable Regulatory Authorities. If and when any such Regulatory Approval is
secured anywhere in the Territory, Zogenix shall thereafter use Commercially Reasonable Efforts to maintain such Regulatory Approval and pay all user fees and other Costs required to maintain such Regulatory Approval. 

(b) Zogenix will provide to Durect drafts of protocols for all Preclinical and Non-Clinical studies and Clinical Trials
for the Product for Durect’s review and comment prior to finalization thereof. Zogenix shall consider in good faith all material comments provided by Durect in writing and in reasonable detail to Zogenix within the [***] following Durect’s
receipt of such protocols; [***]. Zogenix shall promptly provide Durect with a copy of all final reports and final protocols from Preclinical and Non-Clinical trials and Clinical Trials for the Product in the Territory. [***]. 

  
  

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 (c) Promptly following the Effective Date, to the extent not previously
provided to Zogenix or otherwise in Zogenix’s possession, Durect shall provide to Zogenix copies of all Data (as defined in the Feasibility Agreement) and tangible copies of Durect Technology (which are the subject to the license granted to
Zogenix in Section 3.1), in each case as in existence as of the Effective Date. Commencing from the Effective Date, Zogenix shall be responsible for all Product-related reporting and other obligations to any Regulatory Authorities. Throughout
the Term, Durect shall provide to Zogenix copies of all Development Data and tangible copies of Durect Technology and Project Technology, in each case which come into existence during the Term. 

(d) As between the Parties, Zogenix shall exclusively own all Regulatory Approvals in the Territory. 

(i) Zogenix will provide to Durect drafts of regulatory filings and correspondence regarding major or material issues
proposed to be made or sent with respect to the Product for Durect’s review [***]. 
 (ii) Zogenix shall
provide to Durect one paper copy or electronic file, such as a PDF, of all regulatory filings and correspondence regarding major or material issues from or to such Regulatory Authorities concerning the Product in the Territory within [***] following
such submission to or receipt from the Regulatory Authority, or if not practicable, as promptly thereafter as practicable; [***]. 
 (iii) Except as set forth in Section 4.2(d)(iv), [***]. 
 (iv)
With regard to the NDA, Durect shall, at Zogenix’s request and at Zogenix’s Cost, assist Zogenix in creating and finalizing portions of the NDA relating to work performed by Durect and Durect Technology. In addition, Durect shall, at
Zogenix’s request and at Zogenix’s Cost, provide input for the creation and review of the Integrated Summary of Safety and the Integrated Summary of Efficacy. 

 
  

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 (v) At the request of Zogenix, Durect shall participate, at Zogenix’s
Cost, in any major conference or meeting with Regulatory Authorities with respect to the Product in the Territory, and in any event, to the extent permitted by Applicable Law, Durect shall have the right to attend and observe at such conference or
meeting at Durect’s Cost. Zogenix shall notify Durect in writing of its receipt of Regulatory Approval to market the Product in any Jurisdiction within [***] after receipt of any such approval. 

(e) Durect shall have the right to maintain DMFs regarding the safety and manufacture of all excipients which are
components of the Durect Technology, and Zogenix shall promptly provide to Durect any such information in its possession which is reasonably necessary for Durect’s inclusion in such DMFs. All information included within such DMFs, including
Development Data, shall also be available for reference by Zogenix, its Affiliates or Sublicensees in all Regulatory Documentation. [***]. 
 4.3 Zogenix Additional Development Diligence. Without limiting the obligations set forth in Section 4.2(a), Zogenix (either directly or through its Affiliates or Sublicensees) will:
(i) fully fund the Development Plan and use its Commercially Reasonable Efforts to perform the Zogenix activities and to meet the associated timelines for such activities in the Development Plan and (ii) [***], provide that such failure is
not due to [***]. For avoidance of doubt, failure of Zogenix to meet the obligations under Section 4.3(ii) shall be a material breach of the Agreement by Zogenix for which Durect shall have the right to terminate the Agreement in accordance
with Section 13.3. 
 4.4 Durect Development Responsibilities. 

(a) Notwithstanding anything herein to the contrary, the following activities with respect to Product development are to
be performed by Durect (collectively “Durect Development Responsibilities”): (i) Dosage Form Development; (ii) Preclinical and Non-Clinical studies; (iii) manufacturing method development, analytical method
development, validation, stability and other CMC-related activities; (iv) manufacture of Product or Product 

  
  

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Formulation, as applicable, required for all Clinical Trials through the completion of all Phase II Clinical Trials; (v) if Durect does not supply Product or Product Formulation, as
applicable, for Phase III Clinical Trials or Commercialization as set forth in Section 8, management of any and all technology transfer, scale-up to commercial batch size and validation activities that may be required to enable any Person
chosen by Zogenix and reasonably approved by Durect to manufacture Phase III Clinical Trial and commercial supplies of the Product or Product Formulation (as applicable); (vi) generation of necessary documents related to the Durect Development
Responsibilities in order for Zogenix to perform Clinical Trials, complete Regulatory Documentation and Regulatory Approval Applications, and file for Regulatory Approvals in the Territory; and (vii) any other development activity to be
performed by Durect, as mutually agreed by Zogenix and Durect. The Durect Development Responsibilities shall be detailed in a work plan (“Durect Work Plan”) agreed to in writing by the Parties which shall include the activities,
timeline and detailed budget (“Durect Work Plan Budget”) associated with the Durect Development Responsibilities. Any amendments to the Durect Work Plan shall be agreed to in writing by the Parties. Durect shall use Commercially
Reasonable Efforts to perform the Durect Development Responsibilities in accordance with the Durect Work Plan (including Durect Work Plan Budget and timeline set forth therein) for such Durect Development Responsibilities. 

(b) Durect shall invoice Zogenix for the Durect Development Costs incurred in the performance of the Durect Development
Responsibilities [***]. Zogenix shall pay to Durect such Durect Development Costs within [***] from the receipt of an invoice from Durect with reasonable detail of the work performed. Notwithstanding the foregoing, Zogenix shall have no obligation
to reimburse Durect’s Development Costs in excess of the then-current Durect Work Plan Budget, and Durect shall have no obligation to perform activities which would result in Durect incurring Costs in excess of the then-current Durect Work Plan
Budget, in each case, until the Parties have approved any increase in the amounts set forth in the Durect Work Plan Budget. 

  
  

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 (c) Durect may, with the prior written consent of Zogenix (not to be
unreasonably withheld, delayed or conditioned), retain Third Party contractors to perform some or all of the Durect Development Responsibilities so long as the Third Party is subject to the applicable terms of this Agreement, including
confidentiality obligations to Durect that are no less stringent than the confidentiality obligations set forth in Section 10 and ownership of all work product and Intellectual Property Rights relating to the Product resulting from such work as
set forth in this Agreement (including the assignment of ownership provisions set forth in Section 9.1). Durect will remain responsible to Zogenix for all Durect Development Responsibilities carried out by such Third Party contractors.

 (d) In the event that Durect fails to perform any material task included in the Durect Development
Responsibilities, including with respect to a material delay in timelines, and provided that such failure is not the result of: (i) [***] or (ii) [***], then Zogenix shall have the right to perform such task included in the Durect
Development Responsibilities itself or subcontract such tasks to a Third Party [***] to Durect, unless Durect shall have cured such default within [***]. In the event that Zogenix undertakes any task under this Section 4.4(d), upon
Zogenix’s request, Durect shall, [***], promptly provide its full cooperation and assistance to transfer responsibility for, and information necessary to perform, such task to Zogenix or its designee. 

4.5 Reporting Adverse Events. Zogenix shall be responsible for collection, investigation, reporting of information concerning
adverse events with respect to the Product (as defined in the then current edition of ICH Guidelines and any other relevant regulations or regulatory guidelines) or any other safety problem of significance (each such adverse event or problem, an
“Adverse Event”) to the appropriate Regulatory Authorities in the Territory in accordance with Applicable Laws. Each Party shall notify the other of all Adverse Events which qualify as a “serious adverse drug experience”
as defined or contemplated by 21 C.F.R. 312.32 or 314.80, as may be amended from time to time, associated with use of the Product 

  
  

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(“Serious Adverse Drug Experience”) within [***] of the time such Adverse Event becomes known to such Party (including its employees). In addition, the Parties shall enter into a
supplemental safety agreement prior to First Commercial Sale setting forth additional reporting obligations with respect to the Product. 
 4.6 Permitted Development Personnel. Neither Party will engage, retain or employ any employees, subcontractors or consultants to perform any part of the Development Program that (A ) have been
debarred or convicted of a crime for which an entity or person could be debarred under 21 U.S.C. Section 335a (or equivalent law in any applicable Jurisdiction), or (B) is under indictment for a crime for which a person or an entity could
be debarred under 21 U.S.C. Section 335a (or equivalent law in any applicable Jurisdiction). 
  

	5.	DISTRIBUTION AND PROMOTION. 

 5.1
Generally. As between the Parties, Zogenix will be exclusively responsible for Commercializing the Product in the Territory and all Costs associated therewith. 
 5.2 Commercial Diligence. After obtaining Regulatory Approval in a Jurisdiction (and in any event within [***] after such approvals), Zogenix shall use Commercially Reasonable Efforts to
Commercialize the Product in such Jurisdiction; provided, however, [***]. In connection with its responsibilities for Commercialization of the Product in the Territory, Zogenix shall, at its Cost, use Commercially Reasonable Efforts to
provide sales force personnel (including sales administration and training), order entry, customer service, reimbursement management, medical affairs, medical information, marketing (including all advertising and promotional expenditures),
warehousing, physical distribution, invoicing, credit and collections, forecasting and other related personnel, facilities and services necessary for such Commercialization. Without limiting the foregoing, at any time after [***] of the First
Commercial Sale in the U.S., Durect may, upon [***] prior written notice to Zogenix, terminate the rights granted to Zogenix under Section 3.1 in either the [***] (such country(ies) in which rights have been terminated hereunder a
“Terminated Country” or “Terminated Countries”) if, within [***]: (a) a [***], as the case may be; or (b [***], as the case may be. Product launch in any [***] shall satisfy the obligation with respect to [***]
set forth in subsection (a) of the immediately preceding sentence. 

  
  

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	6.	PAYMENTS. 

 6.1 One-time
Payments to Durect. Zogenix shall pay to Durect the following one-time, non-refundable and non-creditable payments (each a “One-Time Payment”) within [***] after the occurrence of the specific event set forth in the table below,
provided, however, in the case of the One-Time Payment payable upon the occurrence of Milestone No. 1, such payment shall be made [***] following the Effective Date and in the case of each of the One-Time Payments payable upon the
occurrence of Milestone Nos. 9-11 set forth in the table below, concurrently with the payment of Royalties based on the applicable quarterly report. 
  

					
	 Milestone
No.
	  	 Timing
	  	 One-Time Payments to

Durect (U.S. Dollars)

	1	  	The Effective Date of this Agreement	  	Two Million Two Hundred Fifty Thousand Dollars ($2,250,000)
	2	  	[***]	  	[***]
	3	  	[***]	  	[***]
	4	  	[***]	  	[***]
	5	  	[***]	  	[***]
	6	  	[***]	  	[***]
	7	  	[***]	  	[***]
	8	  	[***]	  	[***]
	9	  	[***]	  	[***]
	10	  	[***]	  	[***]
	11	  	[***]	  	[***]

 Each Party shall promptly notify the other Party when any event triggering a One-Time Payment listed above has occurred.

 6.2 Royalties. As long as Zogenix sells Product commercially under this Agreement, and subject to the other provisions
of this Section 6, Zogenix shall pay Royalties to Durect in respect of the licenses granted to Zogenix by Durect hereunder. If the Patent Royalty Term is in effect in a Jurisdiction, Zogenix shall owe Durect “Patent Royalties”
with respect to annual Net Sales in such Jurisdiction. If the Know-How Royalty Term is in effect in a Jurisdiction, Zogenix shall owe Durect “Know-How Royalties” with respect to annual Net Sales in that Jurisdiction. The aggregate
of all Patent Royalties and Know-How Royalties that are due to Durect in any Annual Net Sales Period (as defined below) shall be referred to herein as “Royalties.” 

 
  

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 (a) Patent Royalties. Patent Royalties shall begin to accrue on Net
Sales on a Jurisdiction-by-Jurisdiction basis on the date of the First Commercial Sale in such Jurisdiction and shall be payable until the later of: (i) the expiration of all Durect Technology Patents and/or Joint Patent Rights containing one
or more Valid Claims that would be infringed by the manufacture, sale, offer for sale, use or importation of the Product in such Jurisdiction; (ii) Marketing Exclusivity Rights in such Jurisdiction; or (iii) fifteen (15) years from
the First Commercial Sale of the Product in such Jurisdiction (such period the “Patent Royalty Term”). If the Patent Royalty Term is in effect, Zogenix shall pay Durect, subject to Section 6.3, Patent Royalties equal to the
following percentages of the aggregate annual Net Sales in the applicable Jurisdiction in the Territory: 
  

			
	 Annual Net Sales in the Territory ($Million Dollars)
	  	Patent Royalty
Rate
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

 The Royalty rates set forth above shall apply only to that portion of Net Sales within the applicable
tier of Net Sales. For purposes of illustration, Patent Royalties owed on [***] in annual Net Sales would be calculated as the sum of [***]. The periods by which annual Net Sales are measured for purposes of this Section 6.2(a) shall be a
calendar year (each, an “Annual Net Sales Period”) except that the first Annual Net Sales Period in a Jurisdiction shall begin on the first day of the calendar quarter preceding the First Launch and continue to the end of the
calendar quarter ending on December 31st of that
calendar year. 
 (b) Know-How Royalties. Know-How Royalties shall begin to accrue on Net Sales on a
Jurisdiction-by-Jurisdiction basis immediately after the expiration of the Patent Royalty Term in such Jurisdiction and shall be payable [***] (such period the “Know-How 

  
  

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Royalty Term”). If the Know-How Royalty Term is in effect, Zogenix shall pay Durect Know-How Royalties with respect to the aggregate annual Net Sales in the applicable Jurisdiction in
the Territory at a rate of [***] of the rates set forth in the table in Section 6.2(a). The first Annual Net Sales Period in which Know-How Royalties are payable in a Jurisdiction shall begin on the first day of the Know-How Royalty Term and
continue to the end of the calendar quarter ending on December 31st of that calendar year. 
 6.3 Third Party Royalties Owed by Durect. If
(i) the Product is also a “Product” as defined under the [***], and (ii) Durect has provided written confirmation to Zogenix of the payments of any and all royalties required to be paid with respect to the [***] Patent for
Product sales for the applicable period (the [***]), the Patent Royalty rate payable by Zogenix to Durect for Net Sales up to [***] for the calendar quarter for which such [***] has been paid shall be [***] set forth in Section 6.2(a) (e.g.,
during the Patent Royalty Term, the rate for Net Sales up to $[***] would be [***]). Subject to the foregoing sentence, Royalties paid by Zogenix hereunder shall be inclusive of any royalties owed to a Third Party for Product sales which were
incurred by Durect or its Affiliates prior to the Effective Date, including any royalties owed to [***] under the [***]. Durect shall be responsible for paying such [***] royalties to [***] as and when due in accordance with the [***]. 

6.4 Sublicense Income. In addition to the payments required to be made under Sections 6.1 and 6.2 above, if Zogenix grants a
Sublicense under Section 3.2 with respect to a Jurisdiction, Zogenix shall thereafter pay Durect, within [***] after the receipt thereof by Zogenix, the applicable percentage set forth below of any Sublicense Fees received by Zogenix [***].

  

					
	 [***]
	  	 	[	***] 
	 [***]
	  	 	[	***] 
	 [***]
	  	 	[	***] 
	 [***]
	  	 	[	***] 

  
  

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	7.	PAYMENTS AND REPORTS. 

 7.1
Payments of Royalties 
 (a) Beginning [***] after the end of the calendar quarter in which the First Commercial
Sale is made and for each calendar quarter thereafter (no later than [***] after the end of such calendar quarter), Zogenix shall submit a statement to Durect, which shall set forth the amount of Net Sales in the Territory by Jurisdiction, during
such quarter, and the calculation of Royalties due on such Net Sales in each Jurisdiction and in the aggregate for the Territory for such quarter. Each such statement shall be accompanied by the payment of Royalties due to Durect. 

(b) In addition to the reports provided by Zogenix pursuant to Section 7.1(a), Zogenix agrees to provide to Durect
good faith non-binding estimates of Net Sales and other information reasonably necessary for Durect to estimate the Royalties in each calendar quarter provided that Durect shall request such estimates no more frequently [***] for each
calendar quarter. 
 7.2 Mode of Payment for One-Time Payments and Royalties. Zogenix shall make all payments required
under this Agreement by wire transfer to any account specified by Durect or as otherwise directed by Durect from time to time (but at least [***] prior to the date on which such payment is due) in Dollars. 

7.3 Currency Conversion. Royalties with respect to any Net Sales in Jurisdictions where the Dollar is not used as currency shall
be calculated by converting the amount of Net Sales into the corresponding amount in Dollars and applying the applicable Royalties percentage under Section 6 to such amount. The currency conversion shall be made using [***]. 

7.4 Records Retention. Each Party (and its respective Affiliates and Sublicensees) shall keep complete and accurate records
pertaining to Zogenix’s development Costs, Durect Development Costs and the calculation of Net Sales in the Territory, as applicable, for a minimum period of [***] after the calendar year in which such Costs or sales occurred, maintained in
accordance with GAAP and in sufficient detail to permit the Parties to confirm the accuracy of each of the foregoing. 

  
  

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 7.5 Audit Request. During the Term of this Agreement and for a period of [***]
thereafter, at the request and Cost of a Party (the “Auditing Party”), Durect and its Affiliates (in the case of a request by Zogenix) or Zogenix and its Affiliates (in the case of a request by Durect) (the “Audited
Party”) shall permit an independent, certified public accountant appointed by the Auditing Party and reasonably acceptable to the Audited Party, at reasonable times and upon reasonable advance notice of not less than [***], but not more
often than [***] in each calendar year, to examine such records related to the [***] prior to the notice as may be necessary to determine the correctness of any report or payment made under this Agreement or obtain information [***] the Durect
Development Costs, Net Sales and Royalties payable for any calendar quarter in such audited period. Results of any such examination shall be made available to all Parties except that said independent, certified public accountant shall verify to the
Auditing Party such amounts and shall disclose no other information revealed in such audit. The examination shall also include disclosure of the methodology and calculations used to determine the results. The said independent, certified public
accountant shall execute a written confidentiality agreement with the Audited Party. 
 7.6 Cost of Audit. The Auditing
Party shall [***]. If, as a result of any inspection of the books and records of the Audited Party, it is shown that payments made by one Party to the other under this Agreement were less than the amount which should have been paid (in the case of
Royalties) or the amount of Costs charged by one Party to the other Party were more than the amount that should have been charged (in the case of Durect Development Costs), then the under-paying or over-charging Party, as applicable, shall make all
payments required to be made to eliminate any discrepancy revealed by said inspection within [***], including in each case interest at the rate of [***] (or the maximum interest allowable by Applicable Law, whichever is less) for the amount of the
discrepancy. Furthermore, if the payments made or [***] were less than [***] of the amount that should have been paid or spent during any calendar year, or if there was an overcharge of more than [***] of the amount of that was owed, in either case
due to the error of the Audited Party, [***]. 

  
  

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 7.7 No Non-Monetary Consideration for Sale. Zogenix and its Sublicensees and
Affiliates shall not accept or solicit any non-monetary consideration for the sale of Product without the prior written consent of Durect; provided, however, the use by Zogenix and its Sublicensees and its Affiliates of a customary and
reasonable amount of Product for promotional sampling, compassionate use or donations shall not violate this Section 7.7. 
  

	8.	SUPPLY OF PRODUCT FORMULATION 

 8.1 Phase III Clinical Trial and Commercial Supply of Product Formulation. Subject to the terms of this Section 8, Durect shall have the right but not the obligation to supply Zogenix’s
and its Affiliates’ and Sublicensees’ Phase III Clinical Trial and commercial requirements (including Phase IV Clinical Trials) in the Territory of: (i) Product in the event that the Product does not include DosePro® or (ii) if the Product includes DosePro®, the formulation to be filled into
DosePro® (“Product Formulation”). At least [***] prior to the initiation of the first [***] in
the Territory, Zogenix shall provide to Durect a preliminary forecast of anticipated supply requirements (including specifications, quality and quantity requirements and other customary requirements) for Product or Product Formulation, as
applicable, with respect to all Phase III Clinical Trials in the Territory and commercial sales. Durect shall have [***] following receipt of such forecast to notify Zogenix, in writing, of its interest to supply Zogenix’s Phase III Clinical
Trial and commercial requirements for Product or Product Formulation, as applicable, in the Territory. Within [***] thereafter, Zogenix and Durect shall meet to discuss supply matters, including Zogenix’s anticipated requirements, Durect’s
(including its CMOs’) capabilities, timing of supply and other logistics. Durect shall supply Zogenix with any documentation reasonably requested by Zogenix to provide [***]. 

8.2 Supply Agreement. Within [***] after the meeting referenced in Section 8.1, Durect shall notify Zogenix in writing if
Durect elects to supply Zogenix’s Phase III Clinical Trial and commercial requirements for Product or Product Formulation, as applicable, in the Territory. If 

  
  

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Durect so elects to supply, Durect and Zogenix shall each use Commercially Reasonable Efforts to enter into a supply agreement (the “Supply Agreement”) and associated technical
agreement governing QA (“Technical Agreement”) providing for the supply by Durect (by itself or through a Third Party manufacturer reasonably acceptable to Zogenix) of all of Zogenix’s and its Affiliates’ and
Sublicensees’ commercial requirements (including Phase IV Clinical Trials) of Product or Product Formulation, as applicable, in the Territory. Each Party shall use Commercially Reasonable Efforts to enter into the Supply Agreement no later than
[***] prior to the initiation of the first Phase III Clinical Trial. Product or Product Formulation, as applicable, supplied shall meet the specifications provided for in the Supply Agreement and associated Technical Agreement to be executed by each
of the Parties hereto. Under the Supply Agreement, Zogenix shall pay Durect a transfer price for the Product or Product Formulation, as applicable, equal to Durect’s fully burdened manufacturing Cost, such term to be defined in the Supply
Agreement [***], to produce Product or Product Formulation, as applicable, plus [***]). The Supply Agreement shall also contain provisions for back-up sources of supply and other customary terms and conditions for such type of agreements.

 8.3 Alternative Suppliers. [***]. In the event that Durect is not the supplier of Zogenix’s and its
Affiliates’ and Sublicensees’ Phase III Clinical Trial and commercial requirements for Product or Product Formulation, as applicable, in the Territory in accordance with the terms of this Section 8, Durect shall (i) if requested
by Zogenix, recommend a Third Party CMO for manufacturing Phase III Clinical Trial and commercial supplies of Product or Product Formulation, as applicable, and (ii) consistent with its obligation under Section 4.4(a)(v), manage the
technology transfer, manufacturing process development, scale-up to commercial batch size and validation activities that may be required to enable Zogenix or a Third Party CMO chosen by Zogenix and reasonably approved by Durect to manufacture Phase
III Clinical Trial and commercial supplies of Product or Product Formulation, as applicable. 
  

	9.	INTELLECTUAL PROPERTY. 

 9.1
Ownership of Project Technology and Development Data. Subject to the terms hereof, including the licenses and other rights granted hereunder, all Project Technology shall be owned as follows: 

(a) Without regard to inventorship or authorship, Zogenix shall own exclusively [***]. 

  
  

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 (b) Without regard to inventorship or authorship, Durect shall own
exclusively [***]. 
 (c) [***] shall be jointly owned by Zogenix and Durect, with each Party owning an equal,
undivided interest therein (as defined below) and, subject to and consistent with the rights granted each Party under this Agreement and except as otherwise specifically provided under this Agreement (including as set forth in Section 3.4),
each Party may make, use, sell, keep, license or assign its interest in Joint Technology and otherwise undertake all activities a sole owner might undertake with respect to such Joint Technology, without the consent of and without accounting to the
other Party. 
 (d) All [***] shall be owned by the Party whose employees or subcontractors were the inventors of
such Project Technology. 
 (e) Without regard to inventorship or authorship, Zogenix shall own exclusively
[***]. 
 (f) 
 (i) Without regard to inventorship or authorship, Durect shall own exclusively [***]. 
 (ii) Without regard to inventorship or authorship, Zogenix and Durect shall jointly own [***]. 
 (g) Inventorship under this Agreement shall be determined in accordance with United States patent laws (Title 35, United States Code). Each Party may use and practice its own Project Technology and
Development Data in any manner not inconsistent with or in violation of the terms of this Agreement (including Sections 3.4 and 9.2(b)) without the consent of the other Party and without an obligation to notify the other Party of such intended use
or to pay royalties or other compensation to the other by reason of such use. For the avoidance of doubt, neither Party is granted any license rights to any Intellectual Property Rights of the other Party which may be required for such Party to use
Project Technology, unless otherwise expressly granted herein. 

  
  

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 (h) Subject to appropriate confidentiality undertakings, each Party shall
notify the other Party in writing of the creation of any Project Technology as soon as practicable, but in any event, prior to the filing of any patent application incorporating any such Project Technology or, to the extent arising under the
Agreement or the Feasibility Agreement, any Development Data. Each Party shall, at the request of the other Party, execute all assignment documents necessary to perfect the ownership interests in Project Technology and Development Data as determined
pursuant to this Section 9.1. Each Party will cooperate in good faith regarding the inclusion of Development Data owned by such Party in Patents covering Project Technology owned by the other Party. 

(i) Each Party has and will continue to have written contracts with all Third Parties (including employees and
subcontractors) performing services on its behalf under this Agreement and, where such services may give rise to the creation of Development Data or inventions that may be Project Technology, such Party shall ensure that such contracts provide for
the assignment to such Party all Development Data and Project Technology and rights therein. 
 9.2 Prosecution of
Patents. 
 (a) Durect Controlled Patents. 

(i) As between Durect and Zogenix, Durect shall prepare, prosecute and maintain all Durect Technology Patents in the
Territory (including their issuance, reissuance, reexamination and the defense of any interference, revocation or opposition proceedings) [***]. Zogenix shall be entitled to timely notice and a right to comment on all Product-specific decisions
related to the Durect Technology Patents. Zogenix shall offer its comments promptly and Durect shall consider in good faith such comments of Zogenix. 

  
  

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 (ii) With respect to Product Specific Patent Rights, Durect shall furnish
Zogenix with copies of drafts of such Product Specific Patent Rights and copies of all substantive prosecution correspondence to and from patent offices in the Territory sufficiently in advance of the due date for such correspondence and permit
Zogenix to offer its comments thereon before Durect makes any such submission or response to a patent office. Durect will inform Zogenix of the additional countries in which it intends to file Product Specific Patent Rights. Durect shall provide
Zogenix a reasonable time to offer its comments thereon before Durect makes a submission to the relevant patent office, provided that [***]. Zogenix shall offer its comments promptly, and [***]. 

(iii) If, subject to Zogenix’s foregoing consent right, Durect determines to abandon, or not to file, prosecute,
defend or maintain, any Product Specific Patent Rights (including not to defend any interference, revocation or opposition proceedings) in any Jurisdiction, then Durect shall provide Zogenix with [***] prior written notice (or, if not possible, such
shorter time period that would permit Zogenix a reasonable opportunity to respond without any loss of rights to such Product Specific Patent Rights under this Agreement) of such determination. Zogenix shall have the right and opportunity to file,
prosecute, defend and/or maintain such Product Specific Patent Right in Durect’s name and [***]; provided, however, that the payment of such Costs therefor by Zogenix shall not affect Durect’s ownership in any such Patent. 

(b) Joint Patents. With respect to the decision to initiate the drafting and filing of a new patent application
claiming Joint Technology, the Parties shall first exchange sufficient information identifying such Joint Technology and discuss in good faith the relative merits of seeking patent rights thereto and, upon the prior mutual agreement of the Parties
to proceed, not unreasonably withheld, Zogenix shall take such actions as are necessary or appropriate to procure, prosecute and maintain patents and/or patent applications to such Joint Technology (“Joint Patent Rights”) (including
any issuance, reissuance or reexamination thereof and the defense of any interference, revocation or opposition proceedings related thereto) [***] Zogenix shall furnish Durect with copies of drafts of such Joint Patent Rights and any substantive
prosecution correspondence relating thereto to and from patent offices throughout the Territory and permit Durect to offer its comments thereon before Zogenix makes any submission or response to a patent office. Zogenix will inform Durect of the

  
  

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countries in which it intends to file Joint Patent Rights. Durect shall offer its comments promptly, including any request that the Joint Patent Rights be filed in additional countries; [***]. If
Zogenix determines in its sole discretion not to file, prosecute, defend or maintain any Joint Patent Rights (including failing to defend any interference, revocation or opposition proceedings) in any country, then Zogenix shall provide Durect with
[***]prior written notice (or, if not possible, such shorter time period that would permit Durect a reasonable opportunity to respond in a timely manner) of such determination, and Durect shall have the right and opportunity to file, prosecute,
defend and/or maintain such Joint Patent Rights on behalf of the Parties at [***]. 
 (c) Solely Owned
Inventions. 
 (i) As between Durect and Zogenix, Zogenix shall have the exclusive right to and may prepare,
prosecute and maintain any or all Zogenix Technology Patents and Zogenix solely invented Other Project Technology (including their issuance, reissuance, reexamination and the defense of any interference, revocation or opposition proceedings) at
[***]. 
 (ii) As between Durect and Zogenix, Durect shall have the exclusive right to and may prepare, prosecute
and maintain any or all Durect solely invented Other Project Technology (including their issuance, reissuance, reexamination and the defense of any interference, revocation or opposition proceedings) [***]. 

(d) Orange Book Listing. The Parties acknowledge that Zogenix, as the holder of the NDA, may
refer to applicable Durect Technology Patents or Joint Patents (including the [***], the SABER® Formulation
Platform and the Product Specific Patent Rights) in the listing for the Product in the FDA’s Approved Drug Product List with Therapeutic Equivalence Evaluations (which lists all products and the patents that cover the products, that have been
approved by the FDA for safety and effectiveness, and explains the therapeutic equivalence code for multi-source products) (the “Orange Book”). Zogenix shall have the exclusive right to list Product Specific Patent Rights in the
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addition, Zogenix shall have the right to list other Durect Technology Patents in the Orange Book with respect to the Product. At Zogenix’s request, Durect shall support Zogenix in listing
the applicable Durect Technology Patents in the Orange Book. In the event that Durect Technology Patents are listed in the Orange Book pursuant to this Section 9.2(d), Zogenix shall use Commercially Reasonable Efforts to ensure that Durect
shall be listed as the assignee of the Durect Technology Patents and both Zogenix and Durect shall be identified as the point of contact for any Paragraph IV notifications. 

(e) Each Party shall, at its sole Cost and at the reasonable request of the other Party, execute all lawful papers, all
divisional, continuing, reissue and foreign applications, make all rightful oaths and take such other actions as may be reasonably requested by the other Party in conjunction with submission, filing, prosecution, perfecting ownership and defense of
Patents and to aid in obtaining the proper protection of inventions pursuant to this Section 9.2.  
 9.3
Paragraph IV Certifications. In the event either Party receives notice that a Third Party has filed a patent certification under the Hatch-Waxman Act or any successor statute (e.g., a Paragraph IV Certification under 21 C.F.R. §314.50(i)
or 314.94(a)(12)) referencing a Patent licensed under Section 3.1, then such Party shall immediately notify the other Party in writing of such notice. The allocation of the right between the Parties to institute an action against a Third Party
for infringement of Patents listed in the Orange Book covering the Product in response to such Third Party’s filing of a Paragraph IV certification referencing such Patent, and the rights and obligations applicable to any actions so brought
shall be [***]. 
 9.4 Enforcement of Patent Rights. 

(a) In the event that either Zogenix or Durect becomes aware of any pharmaceutical product that is or is intended to be
made, used, or sold in the Field and in the Territory by a Third Party that it believes to infringe any Durect Technology Patents, Joint Patent Rights or Zogenix Technology Patents, such Party will promptly notify the other Party of all the relevant
facts and circumstances known by it in connection with the infringement to the extent consistent with applicable confidentiality obligations to which such Party is subject. To the extent such pharmaceutical product is a Product or a Competitive
Product, Zogenix and Durect shall thereafter consult and cooperate fully to determine a course of action, including the commencement of legal action by either or both Parties consistent with this Section 9.4, to terminate any such infringement,
and each Party may hire separate counsel. In connection with such cooperation, the Parties, as soon as reasonably practicable, shall enter into a mutually agreeable joint defense agreement. 

 
  

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 (b) As between Durect and Zogenix, Zogenix shall have the first right, but
not the duty, upon written notice to Durect to initiate, prosecute and control the enforcement of any of the Product Specific Patent Rights against infringement by a Third Party in the Territory through the manufacture, use, marketing, sale, offer
for sale or import of a Competitive Product. If Zogenix does not institute a proceeding against such Third Party alleging infringement of the Product Specific Patent Right within [***] of a Party’s first notice to the other Party of such Third
Party infringement, then Durect shall have the right, but not the duty, to institute such an action against such Third Party for infringement of such Product Specific Patent Right. For clarity, if an action includes both Product Specific Patent
Rights and other Durect Technology Patents, Section 9.4(c) shall govern. The Party pursuing the proceeding shall furnish the other Party with copies of substantive litigation documents sufficiently in advance of the due date for such document,
permit the other Party to offer its comments thereon before such document is due or delivered to the opposing side and consider any such comments in good faith, incorporating such comments if reasonable. 

(c) As between Durect and Zogenix, Durect shall have the first right, but not the duty, upon written notice to Zogenix, to
initiate, prosecute and control the enforcement of any of the Durect Technology Patents other than Product Specific Patent Rights against infringement by a Third Party in the Territory through the manufacture, use, marketing, sale, offer for sale or
import of a Competitive Product. If Durect does not institute a proceeding against such Third Party alleging infringement of such Durect Technology Patents within [***] of a Party’s first notice to the other Party of such Third Party
infringement, then Zogenix shall have the right, but not the duty, to institute such an action against such Third Party for infringement of any of the Durect Technology Patents; provided, however, that Zogenix’s right

  
  

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to undertake any such action alleging infringement of such Durect Technology Patents shall be subject to the prior written consent of Durect, not to be unreasonably withheld or delayed. For
clarity, if an action includes both Product Specific Patent Rights and other Durect Technology Patents, this Section 9.4(c) shall govern. The Party pursuing such action shall furnish the other Party with copies of substantive litigation
documents sufficiently in advance of the due date for such document, permit the other Party to offer its comments thereon before such document is due or delivered to the opposing side and consider any such comments in good faith, incorporating such
comments if reasonable. 
 (d) As between Durect and Zogenix, Zogenix shall have the first right, but not the
duty, upon written notice to Durect to initiate, prosecute and control the enforcement of any of Joint Patent Rights against infringement by a Third Party in the Territory through the manufacture, use, marketing, sale, offer for sale or import of a
Competitive Product. If Zogenix does not institute a proceeding against such Third Party alleging infringement of the Joint Patent Right within [***] of a Party’s first notice to the other Party of such Third Party infringement, then Durect
shall have the right, but not the duty, to institute such an action against such Third Party for infringement of such Joint Patent Right. The Party pursuing the proceeding shall furnish the other Party with copies of substantive litigation documents
sufficiently in advance of the due date for such document, permit the other Party to offer its comments thereon before such document is due or delivered to the opposing side and consider any such comments in good faith, incorporating such comments
if reasonable. 
 (e) 
 (i) The Costs of any such action under this Section 9.4 (including fees of attorneys and other professionals) shall be borne [***]. 

(ii) For any such action under this Section 9.4, in the event that either Party is unable to initiate or prosecute
such action solely in its own name or it is otherwise advisable to obtain an effective remedy, the other Party will join such action, or agree to have such action initiated or prosecuted in its name, voluntarily and will execute

  
  

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and cause its Affiliates to execute all documents necessary for the enforcing Party to initiate and maintain such action. Each Party shall [***] promptly give to the Party bringing such
infringement proceedings such reasonable assistance as the Party bringing the action may reasonably request. 

(iii) The Party instituting any such action may not enter into any settlement, consent judgment or other voluntary final
disposition of such action that settles a Paragraph IV Certification, admits the invalidity or unenforceability of any Patent licensed hereunder, subjects the other Party to an injunction, requires the other Party to contribute to any monetary
payment or otherwise materially and adversely affects the rights licensed hereunder without the prior written consent of the other Party, not to be unreasonably withheld by the other Party. 

(iv) The Party undertaking any proceedings shall keep the other reasonably informed of the progress of the action and
shall consider the comments and observations of the other in prosecuting the proceedings. 
 (f) Any recovery
obtained as a result of an infringement action brought under this Section 9.4, whether by judgment, award, decree or settlement, [***]. 
 (g) As between Durect and Zogenix, Zogenix shall have the sole discretion and control of enforcing any Zogenix Technology Patents against any Third Party infringement thereof. Notwithstanding
Section 9.4(e) and (f), [***]. 
 9.5 Defense of Patents. 

(a) In the event that either Zogenix or Durect becomes aware of any action initiated by a Third Party (or any counterclaim
or defense asserted in any other action) in the Territory alleging invalidity or unenforceability of any Durect Technology Patents, Joint Patent Rights and Zogenix Technology Patents, such Party will promptly notify the other Party of all the
relevant facts and circumstances known by it in connection with such action. Zogenix and Durect shall thereafter consult and cooperate fully to determine a course of action consistent with this Section 9.5, and each Party may hire separate
counsel. In connection with such cooperation, the Parties, as soon as reasonably practicable, shall enter into a mutually agreeable joint defense agreement. 

  
  

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 (b) As between Durect and Zogenix, Zogenix shall have the first right, but
not the duty, upon written notice to Durect, to defend and control any action initiated by a Third Party (or any counterclaim or defense asserted in any other action) in the Territory alleging invalidity or unenforceability of any Product Specific
Patent Rights. If Zogenix fails to defend any such action initiated by a Third Party (or any counterclaim or defense asserted in any other action) within [***] of notice from such Third Party (or, if not possible, such shorter time period that would
permit Durect a reasonable opportunity to respond in a timely manner), Durect shall thereafter have the right, but not the duty, to defend and control any such invalidity action, counterclaim or defense in the Territory. For clarity, if an action
includes both Product Specific Patent Rights and other Durect Technology Patents, Section 9.5(c) shall govern. The Party pursuing the action shall furnish the other Party with copies of substantive litigation documents sufficiently in advance
of the due date for such document, permit the other Party to offer its comments thereon before such document is due or delivered to the opposing side and consider any such comments in good faith, incorporating such comments if reasonable.

 (c) As between Durect and Zogenix, Durect shall have the first right, but not the duty, upon written notice to
Zogenix, to defend and control any action initiated by a Third Party (or any counterclaim or defense asserted in any other action) in the Territory alleging invalidity or unenforceability of any Durect Technology Patents other than Product Specific
Patent Rights. If Durect fails to defend any such action initiated by a Third Party (or any counterclaim or defense asserted in any other action) within [***] of notice from such Third Party (or, if not possible, such shorter time period that would
permit Zogenix a reasonable opportunity to respond in a timely manner), then Zogenix shall have the right, but not the duty, to defend and control any such invalidity action, counterclaim or defense in the Territory; provided, however, that
Zogenix’s right to undertake any defense of such action relating to such Durect Technology Patents shall be subject to the prior written consent of Durect, not to 

  
  

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be unreasonably withheld or delayed. For clarity, if an action includes both Product Specific Patent Rights and other Durect Technology Patents, this Section 9.5(c) shall govern. The Party
pursuing such an action shall furnish the other Party with copies of substantive litigation documents sufficiently in advance of the due date for such document, permit the other Party to offer its comments thereon before such document is due or
delivered to the opposing side and consider any such comments in good faith, incorporating such comments if reasonable. 
 (d) As between Durect and Zogenix, Zogenix shall have the first right, but not the duty, upon written notice to Durect, to defend and control any action initiated by a Third Party (or any counterclaim or
defense asserted in any other action) in the Territory alleging invalidity or unenforceability of any Joint Patent Rights. If Zogenix fails to defend any such action initiated by a Third Party (or any counterclaim or defense asserted in any other
action ) within [***] of notice from such Third Party (or, if not possible, such shorter time period that would permit Durect a reasonable opportunity to respond in a timely manner), then Durect shall have the right, but not the duty, to defend and
control any such action. The Party pursuing the proceeding shall furnish the other Party with copies of substantive litigation documents sufficiently in advance of the due date for such document, permit the other Party to offer its comments thereon
before such document is due or delivered to the opposing side and consider any such comments in good faith, incorporating such comments if reasonable. 
 (e) 
 (i) The Costs of any such action under this Section 9.5
(including fees of attorneys and other professionals) shall be borne [***], or, if the Parties elect to cooperate in instituting and maintaining such action, such Costs shall be borne [***]. 

(ii) For any such action under this Section 9.5, in the event that either Party is unable to defend such action
solely in its own name or it is otherwise advisable to obtain an effective remedy, the other Party will join such action or agree to have such action initiated or prosecuted in its name, voluntarily and will execute and cause its Affiliates to
execute all documents necessary for the defending Party to defend such action. Each Party shall at its own expense promptly give to the defending Party such reasonable assistance as the Party defending the action may reasonably request. 

  
  

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 (iii) The defending Party may not enter into any settlement, consent
judgment or other voluntary final disposition of such action that admits the invalidity or unenforceability of any Patent licensed hereunder, subjects the other Party to an injunction, requires the other Party to contribute to any monetary payment
or otherwise materially and adversely affects the rights licensed hereunder without the prior written consent of the other Party, not to be unreasonably withheld or delayed by the other Party. 

(iv) The Party undertaking any such defense shall keep the other reasonably informed of the progress of the action and
shall consider the comments and observations of the other in the proceedings. 
 (f) 

(i) As between Durect and Zogenix, Zogenix shall have the sole discretion and control of defending any Zogenix Technology
Patents, Zogenix solely invented Other Project Technology and Joint Patent Rights against any Third Party challenge [***]. 
 (ii) As between Durect and Zogenix, Durect shall have the sole discretion and control of defending any Durect solely invented Other Project Technology against any Third Party challenge [***]. 

9.6 Patent Infringement Claims. 
 (a) Each Party shall notify the other Party promptly in writing of any claim of, or action for, infringement of any Patents or misappropriation of trade secret rights of any Third Party that is
threatened, made or brought against either Party by reason of the development, manufacture, use, sale, offer for sale, importation or exportation of the Product in the Territory. 

  
  

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 (b) In the event of the institution of any suit by a Third Party against
either Party for Patent infringement involving the development, manufacture, use, sale, offer for sale, importation or exportation by or on behalf of Zogenix, its Affiliates or Sublicensees of the Product in the Territory after the Effective Date,
Zogenix shall be responsible for the defense of any such suit and, subject to the terms of this Section 9.6, Zogenix shall control such defense. Zogenix shall select defense counsel and, provided that Zogenix can do so without compromising
attorney-client privilege, regularly consult with Durect and its counsel to keep them reasonably informed on the progress and status of the suit. Durect shall assist Zogenix and cooperate in any such litigation [***]. No settlement, compromise or
other disposition of any such proceeding that subjects Durect to an injunction or requires Durect to contribute to any monetary payment or otherwise materially and adversely affect Durect’s rights hereunder shall be entered into without
Durect’s prior written consent, which consent will not be unreasonably withheld or delayed. 
 (c) [***];
provided, however, [***]. 
 (d) In the event a Third Party threatens suit against either Party for Patent
infringement involving the development, manufacture, use, sale, offer for sale, importation, exportation, license or marketing of the Product in the Territory, the Parties shall confer with respect to the appropriate course of action, and if they
determine that a declaratory action is warranted, then with respect to such action, the provisions of this Section 9.6 shall apply thereto with respect to the prosecution of such action and the defense of any claims asserted in response
thereto. 
 (e) In the event that either Party becomes aware of a Third Party Patent to which a license would be
reasonably required in order to avoid infringement by the development, manufacture or Commercialization of the Product in any Jurisdiction, such Party shall promptly notify the other Party. The Parties shall then confer in good faith with respect to
the appropriate course of action. Zogenix shall have the right to negotiate and obtain such a license or other resolution and, [***] (the “Third Party License Fees”); provided, however, that: (i) [***], Zogenix may
[***]; and (ii) if Durect does not agree with Zogenix’s 

  
  

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determination that the license is reasonably required, either Party may [***]. Zogenix shall provide Durect with complete copies of the license agreement with such Third Party and other material
information in its possession in respect of such technology subject to any confidentiality provisions imposed by such Third Party. 
  

	10.	PUBLICATION; CONFIDENTIALITY 

10.1 Scientific Publications. 
 (a) Notification. During the Term, Durect will not submit any publications regarding the Product without the prior written consent of Zogenix. Any proposed publication by Zogenix regarding the
Product in the Territory shall comply with this Section 10. At least [***] before a manuscript is to be submitted to a publisher, Zogenix will provide Durect with a copy of the manuscript. If Zogenix wishes to make an oral or visual
presentation at any conference, it will provide Durect with a summary of such presentation, unless such disclosed information has previously been reviewed by Durect, at least [***] before such oral or visual presentation and, if an abstract is to be
published, [***] before such abstract is to be submitted. Any oral or visual presentation, including any question period, shall not include any Confidential Information belonging to Durect unless Durect agrees in writing to such inclusion in advance
of such oral presentation. 
 (b) Review. Durect will review the manuscript, abstract, text or any other
material provided to it under Section 10.1 to determine whether patentable subject matter or valuable trade secrets of Durect are disclosed and to assess the accuracy of the technical content therein. Durect will notify Zogenix within [***] of
receipt of the proposed publication if Durect, in good faith, determines that patentable subject matter or valuable trade secrets of Durect are or may be disclosed, or if Durect, in good faith, believes Confidential Information of Durect is or may
be disclosed. If it is determined by Durect that patent applications should be filed in advance of the proposed publication, Zogenix shall delay its publication or presentation for a period not to exceed [***] from Durect’s receipt of the
proposed publication or presentation to allow time for the filing of patent applications covering patentable subject 

  
  

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matter. In the event that the delay needed to complete the filing of any necessary patent application will exceed the [***], Durect will discuss the need for obtaining an extension of the
publication delay beyond the [***]. If it is determined in good faith by Durect that Confidential Information or proprietary information of Durect is being disclosed, the Parties shall consult in good faith to arrive at an agreement on mutually
acceptable modifications to the proposed publication or presentation to avoid such disclosure. Any publications (whether written or oral), where consistent with customary academic practice, shall acknowledge Durect as the developer and licensor of
the Product Formulation. 
 10.2 Publicity. Neither Party shall make any public announcement, including press releases,
announcements at investor conferences, reports to any Governmental Entities regulating securities such as the SEC, concerning the existence of or the terms of this Agreement nor regarding the development or Commercialization of Product in the
Territory, without the prior written consent of the other Party with regard to the form, content and precise timing of such announcement, except such as may be required to be made by either Party in order to comply with Applicable Laws. Such consent
will not be unreasonably withheld or delayed by such other Party. Prior to any such public announcement requiring the other Party’s prior written consent, the Party wishing to make the announcement will submit a draft of the proposed
announcement to the other Party not less than [***] in advance to enable the other Party to consider and comment thereon. Failure to respond with comments in writing prior to [***] before scheduled release shall be deemed approval of such release.
Notwithstanding anything to the contrary in this Agreement, nothing in this Section 10.2 is intended to prohibit either Party from republishing or restating information that has already been approved by the other Party for use in a prior press
release or public announcement. Any written public announcements or presentations shall include a standard statement in a form agreed to by the Parties stating that the relevant Product has been licensed from Durect. 

10.3 Confidentiality. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing, the Parties
agree that, during the Term and for [***] thereafter, the receiving Party, its Affiliates and its designees shall, and shall ensure that their respective 

  
  

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employees, officers, directors and other representatives shall, keep confidential and not publish or otherwise disclose and not use for any purpose, other than the development and
Commercialization of the Product in the Territory, any information including all Know-How furnished to it by the other Party, its Affiliates or its designees, except to the extent that it can be established by the receiving Party by competent proof
that such information: (i) was already known to the receiving Party, other than under an obligation of confidentiality, at the time of disclosure by the disclosing Party; (ii) was generally available to the public or otherwise part of the
public domain at the time of its disclosure to the receiving Party; (iii) became generally available to the public or was otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving Party
in breach of this Agreement; (iv) was disclosed to the receiving Party, other than under an obligation of confidentiality, by a Third Party who had, to the receiving Party’s knowledge, no legal obligation not to disclose such information
to others; or (v) was independently generated by the receiving Party without reference to Confidential Information of the disclosing Party (all such information to which none of the foregoing exceptions applies, and the terms of this Agreement,
shall be deemed “Confidential Information”). Any and all information, data and materials, including any and all Intellectual Property Rights therein and thereto, owned by a Party shall constitute Confidential Information of such
Party which shall be deemed the disclosing Party with respect to such Confidential Information for the purposes of this Section 10. Notwithstanding the foregoing, the obligations of confidentiality under this Section 10.3 regarding any
Confidential Information relating to or containing a Party’s trade secret that has been suitably identified to the other Party as such shall continue beyond the period set forth in this Section 10.3 (i.e., the Term plus [***] so long as
the subject matter remains a trade secret. 
 10.4 Exceptions to Obligation. The restrictions contained in
Section 10.3 shall not apply to Confidential Information that: (i) is submitted by the recipient to a Regulatory Authority to obtain Regulatory Approval for the Product; (ii) is provided by the recipient to Third Parties under
confidentiality provisions at least as stringent as those in this Agreement, in connection with consulting, development, manufacturing, external testing, or 

  
  

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Commercialization of the Product or in connection with a proposed financing transaction or Change of Control of a Party; or (iii) is otherwise required to be disclosed in compliance with
Applicable Laws or by a Governmental Entity; provided that, if a Party is required to make any such disclosure of the disclosing Party’s Confidential Information, such Party will, except where impracticable for necessary disclosures (for
example, to physicians conducting studies or to health authorities), give reasonable advance notice to the disclosing Party of such disclosure requirement and reasonably cooperate with the disclosing Party to secure confidential treatment of such
Confidential Information required to be disclosed. 
 10.5 Limitations on Use. Each Party shall use, and cause each of
its Affiliates and use its Commercially Reasonable Efforts to cause each of its licensees to use, any Confidential Information obtained by such Party from the disclosing Party, its Affiliates or its licensees, pursuant to this Agreement or
otherwise, solely in connection with the activities or transactions contemplated by this Agreement. 
 10.6 Remedies.
Each Party shall be entitled, in addition to any other right or remedy it may have, at law or in equity, to seek an injunction, without the posting of any bond or other security, enjoining or restraining the other Party, its Affiliates and/or its
licensees from any violation or threatened violation of this Section 10. 
  

	11.	REPRESENTATIONS, WARRANTIES AND COVENANTS 

 11.1 Representations and Warranties of the Parties. 
 Each Party represents
and warrants to the other Party that as of the Effective Date: 
 (a) Such Party is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof; 

(b) Such Party has taken all corporate action necessary to authorize the execution and delivery of this Agreement and the
performance of its obligations under this Agreement and has full power and authority to enter into this Agreement and perform its obligations under this Agreement; 

(c) This Agreement has been duly executed by such Party and constitutes a valid and legally binding obligation of such
Party, enforceable in accordance with its terms, subject to and limited by: (i) applicable bankruptcy, insolvency, reorganization, moratorium, and other laws generally applicable to creditors’ rights; and (ii) judicial discretion in
the availability of equitable relief; 

  
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 (d) With the exception of required Regulatory Approvals, such Party has
obtained, or is not required to obtain, the consent, approval, order, or authorization of any Third Party, or has completed, or is not required to complete, any registration, qualification, designation, declaration or filing with, any Governmental
Entity, in connection with the execution and delivery of this Agreement and the performance by such Party of its obligations under this Agreement, including any grant of rights to the other Party pursuant to this Agreement; 

(e) The execution and delivery of this Agreement, and the performance by such Party of its obligations under this
Agreement, including the grant of rights to the other Party pursuant to this Agreement, does not and will not: (i) conflict with, nor result in any violation of or default under any instrument, judgment, order, writ, decree, contract or
provision to which such Party is otherwise bound; (ii) give rise to any lien, charge or encumbrance upon any assets of such Party or the suspension, revocation, impairment, forfeiture or non-renewal of any material permit, license,
authorization or approval that applies to such Party, its business or operations or any of its assets or properties; or (iii) conflict with any rights granted by such Party to any Third Party or breach any obligation that such Party has to any
Third Party; 
 (f) Every officer, scientific employee and technical consultant of such Party has an obligation
to assign his or her inventions to such Party to the extent such inventions are within the scope of his or her activities for such Party with respect to this Agreement, and all such officers, scientific employees and technical consultants retained
by such Party to provide services to such Party has an obligation to maintain the confidentiality of such Party’s confidential information; and 
 (g) Each Party is in compliance with Section 3.4. [***]. 

  
  

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 11.2 Additional Representations and Warranties of Durect. Durect hereby further
represents and warrants to Zogenix that as of the Effective Date: 
 (a) Durect is the sole owner of the Durect
Technology and Durect Technology Patents in existence on the Effective Date, free and clear of all encumbrances and security interests ([***]). Durect has the right to grant to Zogenix the rights granted under this Agreement (including the right
granted in Section 3.1 to develop, manufacture and Commercialize the Product in the Territory), and Durect has not granted prior to the date hereof any options or licenses on the Product Specific Patent Rights. To the Knowledge of Durect, the
Durect Technology Patents, are valid, in full force and effect and have been maintained to date, and [***]; 

(b) To the Knowledge of Durect, [***]; 

(c) [***]; 
 (d) [***]; 
 (e) Exhibit 1.22 sets forth a true, complete
and correct list of the Durect Technology Patents as of the Effective Date; 
 (f) Prior to the Effective Date,
Durect has made available to Zogenix through an electronic data room a true, complete and correct copy of the [***]; 
 (g) [***]; 
 (h) [***]; 

(i) To the Knowledge of Durect, all of the studies, tests and Preclinical and Clinical Trials of the Product conducted
prior to, or being conducted as of, the Effective Date were conducted, or are being conducted, in accordance with Applicable Laws; and 
 (j) Durect has provided to Zogenix access to true and correct summary of the provisions of that certain [***]. 

  
  

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 11.3 Additional Representations and Warranties of Zogenix. Zogenix hereby further
represents and warrants to Durect that as of the Effective Date: 
 (a) [***]. 

11.4 Disclaimer of Other Warranties. EXCEPT AS SET FORTH IN THIS AGREEMENT, THE PARTIES MAKE NO REPRESENTATIONS AND EXTEND NO
WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. 
 11.5 Covenants of Durect. Durect shall have the right, at its sole discretion, to amend, modify or supplement the [***]; provided, however, that Durect agrees that it shall not amend, modify
or supplement the [***] in any manner that would adversely affect Zogenix’s rights under this Agreement without the prior written consent of Zogenix. In addition, Durect shall not sell, assign, convey, pledge, hypothecate or otherwise transfer
the [***] or Durect’s rights or obligations thereunder, or otherwise make any commitments or offers, in each case, in a manner that conflicts with Zogenix’s rights hereunder without the prior written consent of Zogenix. 

11.6 Survival of Representations. The representations and warranties set forth in this Section 11 shall survive indefinitely.

  

	12.	INDEMNIFICATION; INSURANCE 

 12.1
Indemnification by Durect. Durect shall indemnify, defend and hold Zogenix and its Affiliates, and their respective directors, officers, employees and agents (each a “Zogenix Related Party”) harmless from and against any and
all damages, losses, judgments, penalties, fines, settlements, and Costs and expenses (including reasonable fees of attorneys and other professionals) (“Damages”) arising out of Third Party claims that result from: (i) any
breach by Durect of this Agreement, including breach by Durect of its representations and warranties hereunder, (ii) the performance of the Durect Development Responsibilities by Durect, its Affiliates or designees, or (iii) Durect’s
activities with respect to the Durect Technology, Joint Technology or Development Data outside the scope of this Agreement. 
  

 

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 12.2 Indemnification by Zogenix. Zogenix shall indemnify, defend and hold Durect and
its Affiliates and their respective directors, officers, employees and agents (each a “Durect Related Party”) harmless from and against any and all Damages arising out of Third Party claims that result from: (i) any breach by
Zogenix of this Agreement, including breach by Zogenix of its representations and warranties hereunder or (ii) the development or Commercialization of the Product by Zogenix, its Sublicensees, Affiliates or designees under this Agreement.

 12.3 Shared Liability. If Damages arise out of Third Party claims that are subject to indemnification by Zogenix under
Section 12.2 and also subject to indemnification by Durect under Section 12.1, then the Parties shall indemnify each other to the extent of their respective liability for the Damages. In the event that the Parties cannot agree to their
respective indemnity obligations hereunder, a Party shall be free at any time to seek resolution of the respective indemnity obligations of the Parties under this Section 12 pursuant to the provisions set forth in Section 14.11.

 12.4 Indemnification Procedure. Upon receipt by the Party seeking indemnification hereunder (an “Indemnified
Party”) of notice of any action, suit, proceeding, claim, demand or assessment against such Indemnified Party which might give rise to Damages, the Indemnified Party shall give prompt written notice thereof to the Party from which
indemnification is sought (the “Indemnifying Party”) indicating the nature of the claim and the basis therefore, provided that the failure to give such prompt notice shall not relieve the Indemnifying Party of its obligations
hereunder except to the extent the Indemnifying Party or the defense of any such claim is materially prejudiced thereby. The Indemnifying Party shall have the right, at its option, to assume the defense of, at its own Cost and by its own counsel,
any such claim involving the asserted liability of the Indemnified Party. If any Indemnifying Party shall undertake to compromise or defend any such asserted liability, it shall promptly notify the Indemnified Party of its intention to do so, and
the Indemnified Party shall agree to cooperate fully with the Indemnifying Party and its counsel in the compromise of, or defense against, any such asserted liability; provided, however, that the Indemnifying Party shall not, as part of any
settlement or other compromise, admit to liability for which the Indemnifying Party is not fully indemnifying the Indemnified Party or agree to an injunction with respect to activities of the Indemnified Party without the written consent of the
Indemnified Party. Notwithstanding an election by the Indemnifying Party to assume the defense of any claim as set forth above, such Indemnified Party shall have the right (at its own Cost if the Indemnifying Party has elected to assume such
defense) to employ separate counsel and to participate in the defense of any claim. 

  
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 12.5 Cost of Enforcement. All Costs incurred by an Indemnified Party in connection
with enforcement of its rights under Sections 12.1, 12.2 and 12.3, as applicable, shall also be reimbursed by the Indemnifying Party (or, in the case of Section 12.3, allocated between the Parties in accordance with Section 12.3) promptly
after final determination that such Indemnified Party is entitled to such indemnification by the Indemnifying Party. 
 12.6
LIMITATION ON DAMAGES. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER, WHETHER PURSUANT TO THE FOREGOING INDEMNIFICATION OBLIGATIONS OR OTHERWISE UNDER THIS AGREEMENT, FOR SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING BUSINESS
INTERRUPTION OR LOST PROFITS, OR PUNITIVE DAMAGES; PROVIDED, HOWEVER, THIS EXCLUSION IS NOT INTENDED TO, NOR SHALL, EXCLUDE ACTUAL OR COMPENSATORY DAMAGES OF THE AFFECTED PARTY, INCLUDING SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES,
OWED TO THIRD PARTIES AS A RESULT OF A THIRD PARTY CLAIM. 
 12.7 Insurance. Each Party shall carry and maintain in full
force and effect while this Agreement is in effect reasonable insurance in view of its obligations hereunder but in amounts no less than that specified for each type: 
 (a) Commercial general liability insurance with combined limits of not less than $[***] per occurrence and $[***] per accident for bodily injury, including death, and property damage; 

(b) Workers’ compensation insurance in the amounts required by the law of the Jurisdictions, countries or states in which such
Party’s workers are located; and 
 (c) Product liability insurance with a policy limit of at least $[***] per occurrence
and in the aggregate; provided that Zogenix shall have a policy with a limit of no less than $[***] upon First Commercial Sale in the Territory. 

  
  

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 Each Party hereto shall name the other Party hereto as an “additional insured” on
all commercial and product liability policies relating to the insurance described in Sections 12.7(a) and (c). Each Party upon request shall provide the other with evidence of such insurance. Each Party shall provide to the other [***] prior written
notice of any proposed cancellation, termination, reduction or change in its coverage. 
  

	13.	TERM AND TERMINATION 

 13.1
Term of Agreement. This Agreement shall become effective as of the Effective Date and remain in effect on a Jurisdiction-by-Jurisdiction basis until the expiration of the applicable Royalty Terms with respect to all Products or earlier
termination of this Agreement pursuant to this Section 13 (the “Term”). 
 13.2 Termination by
Zogenix. 
 (a) Without Cause. Zogenix may terminate this Agreement in its entirety [***]. In such
event, during the [***]. 
 (b) Safety. If during the development or Commercialization of the Product,
(i) the Product becomes subject to one or more Serious Adverse Drug Experiences or (ii) either Party receives notice from a Regulatory Authority, independent review committee, data safety monitoring board or another similar Clinical Trial
or post-marketing monitoring body alleging significant concern regarding a patient safety issue, in each case which Zogenix, in good faith, reasonably believes would seriously impact the long-term viability of the Product, Zogenix may terminate this
Agreement upon [***] days’ prior written notice. Zogenix may also immediately terminate any ongoing Clinical Trial in the event of a termination for safety under subsection (ii). 

13.3 Termination for Material Breach. Upon the material breach by one Party under this Agreement, the other Party shall notify the
breaching Party of such breach, and require that the breaching Party cure such breach within [***] calendar days or, in the case of payment defaults, within [***] days, or in the case of a breach that cannot be cured within [***] days, within a
reasonable period not exceeding [***] days so long as the breaching Party is diligently proceeding to cure such default. In the event that a material breach by such Party is not cured within the applicable cure period and without limiting other
available remedies, the other Party shall have the right to terminate this Agreement upon written notice. 

  
  

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 13.4 Termination for Patent Challenge. 

(a) In the event that Zogenix or any of its Affiliates or Sublicensees commences or otherwise pursues, directly or
indirectly (or voluntarily assists Third Parties to do so, other than as required by law or legal process), any proceeding seeking to have any of the Product Specific Patent Rights or Durect Technology Patents revoked or declared invalid,
unpatentable, or unenforceable, Durect may terminate this Agreement upon written notice to Zogenix. 
 (b) In the
event that Durect or any of its Affiliates or licensees/sublicensees commences or otherwise pursues, directly or indirectly (or voluntarily assists Third Parties to do so, other than as required by law or legal process), any proceeding seeking to
have any of the Zogenix Technology Patents revoked or declared invalid, unpatentable, or unenforceable, Zogenix may terminate this Agreement upon written notice to Durect. 
 13.5 Termination for Bankruptcy. Either Party may immediately terminate this Agreement upon the occurrence of either of the following: (a) the entry of a decree or order for relief by a court
having jurisdiction in the premises in respect of the other Party in an involuntary case under any applicable national, federal, or state insolvency or other similar law, and the continuance of any such decree or order unstayed and in effect for a
period of [***] consecutive calendar days; or (b) the filing by the other Party of a petition for relief under any applicable national, federal, or state insolvency or other similar law. 

13.6 Effect of Termination. 
 (a) If this Agreement is terminated by Zogenix pursuant to Section 13.3 (Durect Material Breach), Section 13.4(b) (Durect Patent Challenge) or Section 13.5 (Durect Bankruptcy), the
following provisions shall apply: 
 (i) all licenses granted to Zogenix under this Agreement, including pursuant
to Section 3.1, shall survive, subject to the payment by Zogenix to Durect of [***]; 

  
  

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 (ii) The provisions of Sections 9.2-9.6 shall apply, and the provisions of
Article 7 shall apply with respect to any such royalties payable under this Section 13.6(a); and 
 (iii) If
Durect is manufacturing the Product or Product Formulation at the time of termination by Zogenix as set forth in this Section 13.6(a), upon Zogenix’s request, Durect shall provide such reasonable technical assistance as needed by Zogenix
to commence manufacture of the Product or Product Formulation, [***]; provided however, that Durect shall be responsible for the manufacture of the Product or Product Formulation until termination of the Supply Agreement pursuant to its
terms. 
 (b) If this Agreement is terminated by Zogenix pursuant to Section 13.2(a) (Without Cause) or
Section 13.2(b) (Safety), or by Durect pursuant to Section 13.3 (Zogenix Material Breach), Section 13.4(a) (Zogenix Patent Challenge), Section 13.5 (Zogenix Bankruptcy), or in the event Durect terminates Zogenix’s license in
any Terminated Country in accordance with Section 5.2, the following provisions shall apply: 
 (i) all
licenses granted by Durect to Zogenix in Section 3.1 shall terminate with respect to such Product in the Territory or Terminated Country, as applicable; 
 (ii) within [***] of such termination, in the Territory or Terminated Country, as applicable, Zogenix shall or shall cause its Affiliates, if any, to assign or transfer to Durect to the extent not already
owned by Durect) at no Cost all material Regulatory Documentation, Development Data, Product Trademarks (and goodwill associated therewith) Controlled by Zogenix or its Affiliates and Sublicensees whose licenses do not continue hereunder that are
used in the development, manufacturing, use or sale of such Product as of the effective date of termination (collectively, the “Product Material); 

  
  

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 (iii) if terminated by Durect pursuant to Section 13.3 (Zogenix
Material Breach), Section 13.4(a) (Zogenix Patent Challenge), Section 13.5 (Zogenix Bankruptcy), if applicable, Zogenix shall continue during the notice period before termination becomes effective (or if reasonably practicable and agreed
to by Zogenix at such time, allow Durect or its Clinical research organizations (“CROs”) to continue) any ongoing Clinical Trial for which Zogenix has responsibility [***]; 

(iv) if terminated by Zogenix pursuant to Section 13.2(a) (Without Cause), if applicable, Zogenix shall continue
during the notice period before termination becomes effective (or if reasonably practicable and agreed to by Zogenix at such time, allow Durect or its CROs to continue) any ongoing Clinical Trial for which Zogenix has responsibility [***];

 (v) if terminated by Zogenix pursuant to Section 13.2(b) (Safety), if applicable, Zogenix shall continue
during the notice period before termination becomes effective (or if reasonably practicable and agreed to by Zogenix at such time, allow Durect or its nominees to continue) any ongoing Clinical Trial for which Zogenix has responsibility, [***];

 (vi) if Zogenix has manufactured, or has had manufactured such Product for Clinical Trial
or Commercialization, Zogenix at its option shall either transition the manufacturing process to Durect or a mutually agreed Third Party CMO or supply the Product to Durect; provided, that Zogenix shall have no obligation hereunder to
transition any manufacturing process that relates to DosePro®, and if Zogenix chooses to transition the
manufacturing process to Durect or a mutually agreed Third Party CMO, Zogenix will continue to supply such Product until the completion of the transition and associated Regulatory Approvals have been received, but in no event for a period exceeding
[***], and provided further that during any period in which Zogenix continues to supply such Product to Durect (either through a Third Party CMO or itself), Durect shall [***]) to supply the Product; 

  
  

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 (vii) If the First Commercial Sale has occurred at the time of termination,
then Zogenix will have the right to sell-through its existing inventory of the Product for a period not to exceed [***] from the effective date of termination, and such sales will be subject to the royalty provisions contained herein. At the end of
any such sell-through period, in each case at Durect’s sole election, all unsold inventory will be returned to Durect, and Durect will purchase such inventory from Zogenix as is in good and saleable condition, in its original, unopened
packaging, at [***] for the Product; 
 (viii) In the event Durect terminates Zogenix’s license in any
Terminated Country in accordance with Section 5.2, if requested by Durect, Zogenix will reasonably transition [***] the development and Commercialization of Product to Durect or its licensees in the Terminated Countries with
Section 13.6(b)(vi) governing manufacturing of Product in the Terminated Countries; and 
 (ix) [***].

 13.7 Additional Remedies. In addition to the right to terminate this Agreement as set forth in this Section 13,
in the event that a Party is in breach of any of its material obligations under this Agreement, then the other Party shall have the right to seek damages and such other remedies as may be available to it under law or in equity. 

13.8 Surviving Provisions. Upon termination or expiration of the Agreement, all rights and obligations of the Parties shall
terminate; provided, however, notwithstanding the foregoing, expiration or any termination of this Agreement shall not release a Party from the obligations to make any payments or perform any obligations that were due or had accrued immediately
prior to the effective date of such termination (including non-cancelable obligations or commitments made in good faith prior to notice of termination), and the following Sections of this Agreement shall survive any expiration or termination of this
Agreement for any reason (in addition to the provisions which survive under Section 13.6 above): (i) Sections 1 (to the extent necessary to interpret any other surviving provisions), 4.5, 7, 9.1, 10.2 (with respect to any public
announcements concerning the Parties’ activities hereunder or the terms of this Agreement), 10.3-10.6, 11.4, 12.1-12.6, 13.6, this 13.8 and 14, and (ii) Sections 9.2-9.6 (with respect to events occurring during the Term). 

  
  

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	14.	MISCELLANEOUS PROVISIONS 

 14.1
Relationship of Parties. Nothing in this Agreement is intended or shall be deemed to constitute a partnership, agency, employer-employee or joint venture relationship between the Parties. No Party shall incur any debts or make any commitments
for the other, except to the extent, if at all, specifically provided herein. 
 14.2 Assignment. Neither Party shall
assign this Agreement or its rights or obligations hereunder without the express written consent of the other Party hereto, except that either Party may assign or transfer this Agreement and its rights or obligations hereunder without the consent of
the other Party to (i) an Affiliate, (ii) any assignee of all or substantially all of its business or assets relating to this Agreement, or (iii) its successor in the event of a Change of Control of such Party. An assignment or
transfer by a Party pursuant to this Section 14.2 shall be binding on its successors or assigns. In addition, either Party may assign its right to receive proceeds under this Agreement or grant a security interest in such right to receive
proceeds to one or more financial institutions providing financing to such Party pursuant to the terms of a security or other agreement related to such financing. Any permitted assignee shall assume all assigned obligations of its assignor under
this Agreement. The assigning Party shall promptly notify the other Party of any such assignment (including a Change of Control) and shall use all reasonable efforts to provide such notification at least [***] before the assignment or before the
completion of the Change of Control, as the case may be. No such assignment or transfer shall be valid or effective unless done in accordance with this Section 14.2. 
 14.3 Further Actions. Each Party shall execute, acknowledge and deliver such further instruments, and do all such other acts, as may be reasonably necessary or appropriate in order to carry out the
purposes and intent of this Agreement. 

  
  

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 14.4 Notice. Any notice, request or other communication required or permitted to be
given under or in connection with this Agreement shall be deemed to have been sufficiently given if in writing and personally delivered, facsimile transmission (receipt verified) or overnight express courier service (signature required), prepaid, to
the Party for which such notice is intended, at the address set forth for such Party below: 
 In the case of Durect, to:

 Durect Corporation 
 2 Results Way 
 Cupertino, CA 95014 

Attention: General Counsel 
 Facsimile No.: (408) 777-3577 
 In the case of Zogenix, to: 

Zogenix, Inc. 

12671 High Bluff Drive, Suite 200 
 San Diego, California 92130 
 Attention: General Counsel 

Facsimile No.: (858) 259-1166 
 or to such other address for such Party as it shall have specified by like notice to the other Party, provided that notices of a change of address shall be effective only upon receipt thereof. If
delivered personally or by facsimile transmission, the date of delivery shall be deemed to be the date on which such notice or request was given. If sent by overnight express courier service, the date of delivery shall be deemed to be the next
business day after such notice or request was deposited with such service. 
 14.5 Use of Name. Except as otherwise
provided herein, Durect, on the one hand, and Zogenix on the other hand, shall not have any right, express or implied, to use in any manner the name or other designation of the other or any other trade name, trademark or logos of the other for any
purpose, unless consented to in writing by the other Party. 
 14.6 Waiver. A waiver by any Party of any of the terms and
conditions of this Agreement in any instance shall not be deemed or construed to be a waiver of such term or condition for the future, or of any subsequent breach hereof. All rights, remedies, undertakings, obligations and agreements contained in
this Agreement shall be cumulative and except as specifically provided herein none of them shall be in limitation of any other remedy, right, undertaking, obligation or agreement of either Party. 

  
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 14.7 Counterparts. This Agreement may be executed simultaneously in any number of
counterparts, any one of which need not contain the signature of more than one Party but all such counterparts taken together shall constitute one and the same agreement. This Agreement, to the extent signed and delivered by means of a facsimile
machine (or pdf-file attachment to Email), shall be treated in all manner and respects and for all purposes as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed
version thereof delivered in person. 
 14.8 Severability. When possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of this Agreement. 
 14.9 Amendment. No amendment,
modification or supplement of any provisions of this Agreement shall be valid or effective unless made in writing and signed by a duly authorized officer of each Party. 
 14.10 Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of California without regard to conflicts of law principles. 

14.11 Dispute Resolution. 
 (a) The Parties recognize that a bona fide dispute as to certain matters may from time to time arise during the Term that relate to a Party’s rights or obligations hereunder. In the event of the
occurrence of any Dispute, either Party may, by written notice to the other, have such Dispute referred to its highest ranking officer for attempted resolution by good faith negotiations within [***] after such notice is received. If either Party
desires to pursue arbitration under paragraph (b) below to resolve any such Dispute, unless expressly provided for otherwise herein, a referral to such executives under this paragraph (a) shall be a mandatory condition precedent. Said
designated officers as of the Effective Date are as follows. 
 For Durect: Chief Executive Officer 

  
  

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 For Zogenix: Chief Executive Officer 

In the event that they shall be unable to resolve the Dispute by consensus within such [***], then the Dispute shall be finally settled by binding
arbitration as provided below. 
 (b) Except as expressly otherwise provided in this Agreement, any dispute
arising out of or relating to the interpretation of any provisions of this Agreement or the failure of either Party to perform or comply with any obligation of such Party pursuant to this Agreement or the breach, termination or validity hereof (a
“Dispute”), shall be exclusively and finally settled by arbitration under the then current American Arbitration Association (“AAA”) Expedited Procedures applicable to the Commercial Arbitration rules of the AAA
(“Expedited Rules”) and in accordance with the terms set forth in this Section 14.11(b) (the “Accelerated Arbitration Provisions”): The place of arbitration shall be San Francisco, California, if Zogenix
initiates the Dispute process hereunder, and San Diego, California, if Durect initiates the Dispute process hereunder. Such arbitration shall be conducted by a single neutral and impartial arbitrator agreed upon by the Parties within [***] of
receipt by respondent of a copy of the demand for arbitration. If the Parties fail to timely agree, on the request of any Party, such arbitrator shall be appointed by the AAA in accordance with the Expedited Rules. The Dispute shall be resolved by
submission of documents unless the arbitrator determines (or the Parties agree) that an oral hearing is necessary. The award shall be rendered, if practicable, within [***] of the appointment of the arbitrator. Any award rendered by the arbitrator
shall be final and binding upon the Parties. Judgment upon any award rendered may be entered in any court having jurisdiction, or application may be made to such court for a judicial acceptance of the award and an order of enforcement, as the case
may be. Except as provided in Section 12.5, [***]. This Section 14.11(b) shall not prohibit a Party from seeking preliminary injunctive relief in aid of arbitration from a court of competent jurisdiction in the event of a breach or
prospective breach of this Agreement by any other Party which would cause irreparable harm to the Party seeking such relief. Without prejudice to such provisional remedies as may be available under the jurisdiction of a court, the arbitrator shall
have full authority to grant provisional remedies and to direct the Parties to request that any court modify or vacate any temporary or preliminary relief issued by such court, and to award damages for the failure of any Party to respect the
arbitrator’s orders to that effect. 

  
  

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 14.12 Compliance with Laws. Each Party shall review in good faith and cooperate in
taking actions to ensure compliance of this Agreement and the Parties’ activities hereunder with all Applicable Laws. Each Party shall provide the other Party such reasonable assistance as may be required for the Party requesting such
assistance to comply with all Applicable Laws necessary to permit the Parties to perform hereunder and to exercise their respective rights hereunder. 
 14.13 Force Majeure. Except where expressly provided for herein, neither Party shall be held liable or responsible to the other Party nor be deemed to be in default under, or in breach of any
provision of, this Agreement for failure or delay in fulfilling or performing any obligation of this Agreement to the extent that such failure or delay is due to Force Majeure, and without the willful wrongdoing, recklessness or gross negligence of
the Party so failing or delaying. For purposes of this Agreement, “Force Majeure” is defined as causes beyond the reasonable control of the Party, including acts of God; changes in regulations or laws of any government; war;
terrorism; civil commotion; destruction of production facilities or materials by fire, flood, earthquake, explosion or storm; labor disturbances; epidemic; and failure of public utilities or common carriers. In the event that the ability of Durect
or Zogenix to perform its obligations under this Agreement, as the case may be, shall be so affected, the affected Party shall immediately notify the other Party of such inability and of the period for which such inability is expected to continue.
The Party giving such notice shall thereupon be excused from such of its obligations under this Agreement as it is thereby disabled from performing for so long as it is [***]. To the extent possible, each Party shall use Commercially Reasonable
Efforts to minimize the duration of any Force Majeure. 
 14.14 Entire Agreement. This Agreement including schedules and
exhibits thereto, including the Development Plan together with all other future written agreements entered into by the Parties and specifically made a part of this Agreement, constitute the entire agreement between the Parties with respect to the
subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, between the Parties with respect to the subject matter of this Agreement. 

  
  

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 14.15 Parties in Interest. All of the terms and provisions of this Agreement shall be
binding upon, inure to the benefit of and be enforceable by the Parties hereto and their respective permitted successors and assigns. 
 14.16 No Third Party Beneficiaries. Except for rights and obligations specifically referred to herein that apply to Affiliates, sublicenses or licensees of the Parties, nothing in this Agreement is
intended to confer on any Person other than Durect or Zogenix any rights or obligations under this Agreement, and there are no intended Third Party beneficiaries to this Agreement. 

14.17 Descriptive Headings; Certain Terms. The descriptive headings of this Agreement are for convenience only, and shall be of no
force or effect in construing or interpreting any of the provisions of this Agreement. 
 14.18 Fees and Payments. All
fees and payments made by one Party to the other under this Agreement shall be deemed non-refundable and non-creditable unless expressly provided to the contrary herein. 
 14.19 No Implied Licenses. Except as specifically and expressly granted in this Agreement, no rights or licenses to any Intellectual Property Rights are granted by either Party to the other, by
implication, estoppel or otherwise, and each Party specifically reserves all its rights with respect to any Intellectual Property Rights not specifically granted hereunder. Furthermore, unless expressly provided otherwise herein, each Party may use
and practice its own Intellectual Property Rights, technology and data in any manner not inconsistent with the terms of this Agreement without the consent of the other Party and without obligation to notify the other Party of its intended use.

  
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 14.20 Information for Financial Reporting. In addition to any reports provided by the
Parties hereunder, including the reports provided by Zogenix pursuant to Section 7.1, each Party agrees to use reasonable efforts to provide the other party such financial information, including Development Costs and/or estimated [***]
allow the other Party to accrue the proper expenses and revenues as required by GAAP and required for financial reporting under Applicable Laws; provided however, for clarity, this Section 14.20 shall not be construed to require a Party
to disclose any information that is not otherwise required to be disclosed to the other Party under the terms of this Agreement. 

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 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed by its duly authorized
representative as of the day and year first above written. 
  

			
	Durect Corporation
		
	By:	 	              /s/ Felix Theeuwes
		 	Name:   Felix Theeuwes, D.Sc.
		 	Title:     Chairman and Chief Scientific Officer
	
	Zogenix, Inc.
		
	By:	 	              /s/ Stephen J. Farr
		 	Name:   Stephen J. Farr, Ph.D.
		 	Title:     President and Chief Operating Officer

  
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 Schedule 1.21 - Durect Development Costs 

Durect Development Costs, including [***] 
 CONFIDENTIAL 

  
  

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portions. 

  

 Schedule 1.22 - Durect Technology Patents 

[***] 
  

											
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 CONFIDENTIAL 

 Schedule 1.66 - Zogenix Technology Patents 

 

													
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	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
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	***	Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
 CONFIDENTIAL 

 Schedule 2.1 - Initial Members of JDC 

DURECT MEMBERS 
 [***]

 ZOGENIX MEMBERS 

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 CONFIDENTIAL

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]