Document:

Form of Deferred Stock Award with Vestings at year 2 and 4

 Exhibit 10.28 
 AMENDED AND RESTATED 2003 STOCK-BASED INCENTIVE COMPENSATION PLAN 
 EXECUTIVE OFFICER DEFERRED STOCK AGREEMENT (VESTING AT YRS 2 & 4) 
 [DATE] 

[Name] (“Grantee”) 
 [Address]

 [Address] 
 Dear [Name]: 

Adolor Corporation, a Delaware corporation (the “Company”), and the Grantee hereby enter into this Deferred Stock Agreement (the
“Agreement”), effective as of [GRANT DATE] (the “Grant Date”). All capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Amended and Restated Adolor Corporation 2003 Stock-Based
Incentive Compensation Plan (the “Plan”). 
  

	1.	Grant of Deferred Stock. 

 (a) Pursuant to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants (“Grant”) to Grantee, as of the Grant Date, the right to receive from the Company
             shares of the common stock, par value $.0001 per share, of the Company (the “Deferred Stock”). The Deferred Stock underlying this Grant may not be
transferred by Grantee or subjected to any security interest until the restrictions have lapsed in accordance with the terms of the Plan and the terms and conditions of this Agreement. 
 (b) This Grant shall become null and void unless Grantee shall accept these terms and conditions by executing this Agreement below and
returning it to the Company’s Finance Department not later than forty-five (45) days after the Grant Date. By accepting the Grant, Grantee agrees to be bound by the terms of the Plan and this Agreement and further agrees that all of
the decisions and determinations of the Committee (as defined in the Plan) with respect to the Deferred Stock shall be final and binding. The Company will not issue certificates for any portion of the Deferred Stock until all of the
restrictions on that portion of the Deferred Stock have lapsed. 
  

	2.	Restrictions. 

 (a) Vesting Period. The restrictions (described in Paragraph 2(b) below) shall lapse with respect to forty percent (40%) of the Deferred Stock, and such Deferred Stock shall no longer be forfeitable (as described in
Paragraph 3 below), as of the date that is the second anniversary of the Date of Grant (i.e., [GRANT DATE + 2 yrs]), if the Grantee is then employed by, or providing service to, the Company as of such date. The restrictions on the Deferred Stock
shall lapse with respect to the remaining sixty percent (60%) of the Deferred Stock, and such Deferred Stock shall no longer be forfeitable (as described in Paragraph 3 below), as of the date that is the fourth anniversary of the Date of Grant
(i.e., [GRANT DATE + 4 yrs]), if the Grantee is then employed by, or providing service to, the Company as of such date. 
 The
period during which any portion of the Deferred Stock actually remains subject to the restrictions of Paragraph 2(b) below is referred to herein and in the Plan as the “Restriction Period” for such portion of the Deferred Stock.

 (b) Restrictions on Transfer; Shares Subject to Forfeiture. Grantee may not
sell, assign, transfer, pledge or otherwise dispose of any portion of the Deferred Stock at any time during the Restriction Period for such Deferred Stock. Any attempt to sell, assign, transfer, pledge or otherwise dispose of the Deferred Stock
contrary to the provisions hereof, and the levy of any execution, attachment or similar process upon the Deferred Stock, shall be null, void and without effect. 
 (c) Certificates. Unless the shares of Deferred Stock are forfeited pursuant to Paragraph 3 below, at the end of the Restriction Period applicable to each portion of the Deferred Stock,
Grantee will be entitled to receive an unrestricted certificate representing that portion of the Deferred Stock (the “Unrestricted Shares”). 
  

	3.	Termination of Employment; Death. 

 (a) Should Grantee’s employment or service with the Company or one of its subsidiaries terminate for any reason other than by reason of death during the Restriction Period, Grantee will forfeit
all of the Deferred Stock as to which the Restriction Period has not expired on or before the effective date of such termination. 
 (b) Should Grantee die during the Restriction Period, all restrictions imposed under Section 2(b) above with respect to such Deferred Stock shall lapse and such shares shall become transferable and nonforfeitable. 
  

	4.	Privilege of Stock Ownership. 

 Grantee shall not have, with respect to any Deferred Stock, the right to vote the shares or the right to receive any cash or other dividends declared thereon, until the Restriction Period has expired with
respect to such Deferred Stock. 
  

	5.	Certain Corporation Transactions. 

 The provisions of the Plan applicable to a Change of Control (as defined in the Plan) shall apply to the Deferred Stock and, in the event of a Change of Control, any remaining restrictions on the Deferred
Stock (described in Paragraph 2(b) above) shall fully lapse, and the Deferred Stock shall no longer be forfeitable (as described in Paragraph 3 above). 
  

	6.	Withholding. 

 The
Grantee shall be required to pay to the Company, or make other arrangements satisfactory to the Company to provide for the payment of, any federal, state, local or other taxes that the Company is required to withhold with respect to the grant or
vesting of the Deferred Stock. Grantee may make an election to satisfy any income tax withholding obligation with respect to the Deferred Stock by having shares withheld up to an amount that does not exceed Grantee’s minimum applicable
withholding tax rate for federal (including FICA), state and local tax liabilities. Such election must be in the form and manner prescribed by the Committee. If Grantee is a director or officer (within the meaning of Rule 16a-1(f)
promulgated under the Securities Exchange Act of 1934, as amended), such election must be irrevocable and must be made six months prior to the date on which all restrictions lapse with respect to such Deferred Stock. 
  

	7.	Compliance with Laws and Regulations. 

 (a) The obligations of the Company to deliver Unrestricted Shares pursuant to this Agreement shall be subject to the condition that if at any time the Committee shall determine, in its discretion, that
the listing, registration or qualification of the Unrestricted Shares upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in
connection with, the issuance of such shares, the

 
Unrestricted Shares may not be issued in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not
acceptable to the Committee. The issuance of shares to Grantee pursuant to this Grant is subject to applicable taxes and other laws or regulations of the United States or any state having jurisdiction thereof. 
 (b) In connection with this Grant, Grantee will execute and deliver to the Company such representations in writing as may be requested by
the Company so that it may comply with the applicable requirements of federal and state securities laws. 
 (c) Grantee agrees
to be bound by the Company’s policies regarding the transfer of shares of the Company’s common stock and understands that there may be certain times during the year in which Grantee will be prohibited from selling, transferring, pledging,
donating, assigning, mortgaging, hypothecating or encumbering Unrestricted Shares after such shares have been issued to the Grantee. 
  

	8.	Liability of Company. 

 (a) If as of the Grant Date the Deferred Shares exceed the number of shares that may without stockholder approval be issued under the Plan, then this Grant will be void with respect to such excess
shares unless stockholder approval of an amendment sufficiently increasing the number of shares issuable under the Plan is obtained in accordance with the provisions of the Plan. 
 (b) The inability of the Company to obtain approval from any regulatory body having authority deemed by the Company to be necessary to
the lawful issuance and delivery of any Unrestricted Shares pursuant to this Grant will relieve the Company of any liability with respect to the non-issuance or non-delivery of the Unrestricted Shares as to which such approval is not obtained.

  

	9.	No Employment Contract. 

 Nothing herein or in the Plan confers upon Grantee any right to continue in the employ or service of the Company (or any subsidiary or affiliate) as an employee or otherwise or interferes with or restricts in any way the rights of the
Company (or any subsidiary or affiliate), which are hereby expressly reserved, to discharge Grantee at any time for any reason or no reason, with or without cause. Except to the extent the terms of any employment or service contract between the
Company (or any subsidiary or affiliate) and Grantee may expressly provide otherwise, neither the Company nor any of its subsidiaries or affiliates is under any obligation to continue the employment or service of Grantee for any period of specified
duration. 
  

	10.	Notices. 

 Any
notice required to be given or delivered to the Company under the terms herein will be in writing and addressed to the Company, Attention: Finance, at its corporate office at 700 Pennsylvania Drive, Exton, Pennsylvania 19341. Any notice
required to be given or delivered to Grantee will be in writing and addressed to Grantee at the address provided above or such other address provided in writing by Grantee to the Company. All notices will be deemed to have been given or
delivered upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified. 
  

	11.	Assignment. 

 The
rights and protections of the Company hereunder shall extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates. This Grant may be assigned by the Company without Grantee’s consent.
This Grant is not transferable or assignable by the Grantee other than by will or by the laws of descent and distribution. 

	12.	Applicable Law. 

 The validity, construction, interpretation and effect of this instrument shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflicts of laws provisions hereof. 

 

	13.	Construction. 

 (a) These terms and conditions and the Grant evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the express terms and provisions of the Plan, which terms are incorporated
herein. 
 (b) This Grant is subject to interpretations, regulations and determinations concerning the Plan established
from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) rights and obligations with respect to withholding taxes, (ii) the registration, qualification or
listing of the shares, (iii) changes in capitalization of the Company, and (iv) other requirements of applicable law. The Committee shall have authority to interpret and construe the Grant pursuant to the terms of the Plan, and all
decisions of the Committee with respect to any question or issue arising under the Plan or these terms and conditions will be conclusive and binding on all persons having an interest in this Grant. 
  

	14.	Documents. 

 By signing below, you agree to be bound by the applicable terms of the Plan and acknowledge that following document have been made available to you: the Plan, the Summary of the Adolor Corporation Amended and Restated 2003 Stock-Based
Incentive Compensation Plan and the Adolor Corporation Form 10-K for Fiscal Year Ended December 31,             . 
 [SIGNATURE PAGE FOLLOWS] 

 IN WITNESS WHEREOF, Adolor Corporation has caused this Agreement to be executed in duplicate on its
behalf by its duly authorized officer and the Grantee has also executed this Agreement in duplicate. 
  

			
		 	ADOLOR CORPORATION
		
		 	  

		 	Michael R. Dougherty
		 	President & CEO
		
	Date:	 	  

 I hereby accept the Grant described in this Agreement, and I agree to be bound by the terms of the Plan and this Agreement. I hereby further agree that all of the decisions and determinations of the
Committee shall be final and binding. 
  

			
	Grantee:	 	  

		 	[Name]
		
	Address:	 	  

		
		 	  

		
	Date:Amendment No.5 to the Collaboration Agreement

 Exhibit 10.46 
 AMENDMENT NO. 5 TO 
 COLLABORATION AGREEMENT 

 THIS AMENDMENT NO. 5 TO COLLABORATION AGREEMENT (this “Amendment No. 5”), effective as of
December 16, 2009 (the “Effective Date”), is made by and between ADOLOR CORPORATION, a Delaware corporation and having its principal office at 700 Pennsylvania Drive, Exton, Pennsylvania 19341 (“Adolor”), and
GLAXO GROUP LIMITED, a United Kingdom corporation and having its principal office at Glaxo Wellcome House, Berkeley Avenue, Greenford, Middlesex, UB6 0NN, United Kingdom (“GSK”). Adolor and GSK are each sometimes referred to
individually as a “Party” and together as the “Parties.” 
 WHEREAS, Adolor and GSK entered
into that certain Collaboration Agreement dated April 14, 2002 (the “Collaboration Agreement”), as amended by Amendment No. 1 to the Collaboration Agreement effective on June 24, 2003 (“Amendment
No. 1”), Amendment No. 2 to the Collaboration Agreement effective on December 22, 2004 (“Amendment No. 2”), Amendment No. 3 to the Collaboration Agreement effective on June 9, 2008
(“Amendment No. 3”), Amendment No. 4 to the Collaboration Agreement dated January 30, 2009 and effective as of January 1, 2009 (“Amendment No. 4”) and a Notice of Termination for GI Products
dated August 29, 2008 (the “Notice”) (the Collaboration Agreement, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and the Notice are collectively referred to herein as, the
“Agreement”). 
 WHEREAS, GSK desires to terminate the Agreement with respect to the POI Product in all
territories other than the United States, Puerto Rico, Guam and the U.S. Virgin Islands; and 
 WHEREAS, Adolor and GSK desire
to amend the Agreement to reflect that the ROW means Puerto Rico, Guam and the U.S. Virgin Islands. 
 NOW, THEREFORE, in
consideration of the foregoing premises and the representations, covenants and agreements contained herein, Adolor and GSK, intending to be legally bound, hereby agree as follows: 
  

	1.	Interpretation. Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Agreement. 

  

	2.	ROW Defined. Subject to Section 15 of this Amendment No. 5, the definition of “ROW” in Section 1.122 of the Agreement is hereby deleted
in its entirety and replaced with the following: 

 ‘“ROW” means Puerto Rico, Guam and the
U.S. Virgin Islands; for clarity, Countries other than the United States, Puerto Rico, Guam and the U.S. Virgin Islands are deemed to be outside of the ROW, and thus are not covered by the Agreement or this Amendment No. 5.’ 
  

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	3.	United States Defined. Subject to Section 15 of this Amendment No. 5, the definition of “United States” in Section 1.145 of the
Agreement is hereby deleted in its entirety and replaced with the following: 

 ‘“United
States” means the fifty (50) states of the United States of America and the District of Columbia; for clarity, the United States does not include Puerto Rico, Guam and the U.S. Virgin Islands, which are included in the ROW.’

  

	4.	Termination of the POI Product in Countries other than ROW and United States. The Agreement by and between the Parties is hereby terminated with respect to the
POI Product in Countries other than ROW and United States and GSK acknowledges and agrees that it has no rights to the POI Product in Countries other than the United States and ROW. 

  

	5.	Availability of U.S. Sales Training For ROW. The following sentence shall be added at the end of Section 5.10.1: 

 “For the avoidance of doubt, GSK shall have the right to have its Sales Representatives and other sales and marketing personnel, in each
case who are located in the ROW, participate in the training programs of Adolor in the United States for the purpose of ensuring overall consistency in the training programs for Collaboration Products.” 
  

	6.	Availability of U.S. Sales Training Materials For ROW. Section 5.10.2 of the Agreement shall be deleted in its entirety and replaced with the following:

 “Assistance. During the United States Term and during the ROW Term with respect to the ROW, each
Party shall make available to the other Party for use in connection with Co-Promoting the Collaboration Products in the ROW, to the extent reasonable, assistance and services relating to such Co-Promotion, including, but not limited to, providing
the other Party, free of charge and in a timely manner, with a master copy of such training materials relating to Collaboration Products as such Party has used and/or intends to use in connection with the training of its Sales Representatives,
including but not limited to learning units and any other printed, audio and video training materials. To the extent the other Party wishes to use such training materials in the training of its own Sales Representatives, it will be responsible for
reproducing such training materials.” 
  

	7.	ROW Royalties For Adolor Products. The first sentence of Section 6.4.1 of the Agreement shall be deleted in its entirety and replaced with the following:

 “Within thirty (30) days after the end of each Calendar Quarter, GSK shall pay Adolor royalty payments
based on Net Sales of Adolor Products in such Calendar Quarter in the ROW during the ROW Term equal to the ROW Adolor Product Royalty set forth on Schedule 1 to Amendment No. 5, for Adolor Products; provided, however, that the royalty to
be paid by GSK to Adolor on Net Sales of the POI Product in the ROW during the ROW Term shall be equal to the ROW POI Product Royalty set forth on Schedule 1 to Amendment No. 5.” 
  

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	8.	Supply of Adolor Products. Section 10.8.1 shall be amended and updated to insert “and ROW” after any reference to the term “United
States” contained in Section 10.8.1. 

  

	9.	Supply of Collaboration Products for the ROW. Section 10.8.3 of the Agreement shall be deleted in its entirety. 

  

	10.	Product Suppliers. The last sentence of Section 10.10 of the Agreement shall be deleted in its entirety. 

  

	11.	Indemnification by GSK. Subsection (d) contained in Section 14.1 shall be deleted in its entirety and replaced with the following:

 “(d) the manner in which GSK sells the Collaboration Product in the ROW” 
  

	12.	Product Liability Claims in the United States. Section 14.5.1 shall be amended and updated to insert “and ROW” after any reference to the term
“United States” contained in Section 10.8.1 (other than when used to reference the defined term “United States Term”). Additionally, the last sentence of Section 14.5.1 shall be deleted in its entirety and replaced with
the following: 

 “Notwithstanding the foregoing, and except with respect to Collaboration Product sold by
Adolor to GSK for sales in the ROW, Adolor shall not be responsible for any Losses arising out of or resulting from Product Liability Claims in relation to Collaboration Product for which it does not receive a percentage of the Adolor Product
Marketing Contribution or a percentage of the GI Product Marketing Contribution unless such Loss is related to a Claim under Section 14.2(a) or 14.2(b).” 
  

	13.	E.A.S.E.TM Program. For the purposes of this Amendment No. 5, the “E.A.S.E.TM Program” means the then-current ENTEREG Access Support and
Education (E.A.S.E.TM) Program implemented by the Parties as part of the Risk Evaluation and Mitigation Strategy approved by the FDA for the POI Product. 

  

	 	(a)	Hospital Registrations. GSK shall, in accordance with the requirements of the E.A.S.E.TM Program, introduce, educate and cause all parties that seek to order
the POI Product in the ROW to first apply for registration in the E.A.S.E.TM Program. Adolor shall, at no additional cost to GSK, maintain and manage the E.A.S.E.TM Program including the determination of whether a party’s application
for registration in the E.A.S.E. TM Program will be accepted (a “Registered Entity”), to ensure that registration of hospitals in the ROW occurs in a manner substantially similar to that in the United States. In a manner and
frequency that is mutually agreeable, Adolor shall provide to GSK a listing of all Registered Entities in the ROW. Further, Adolor hereby grants to GSK the right to use and distribute the E.A.S.E.TM Program educational materials to introduce,
educate and register into the E.A.S.E.TM Program all eligible hospitals located in the ROW. 

  

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	 	(b)	Registered Hospital Verification. Prior to shipping the POI Product in the ROW, GSK shall ensure that the recipient of the POI Product is a Registered Entity.
GSK shall not ship the POI Product to any party other than a Registered Entity. 

  

	 	(c)	Further Assurances. Each Party shall cooperate reasonably with the other Party in implementing and maintaining the E.A.S.E.TM Program in the ROW, including,
without limitation, promptly: (i) identifying, notifying Adolor of, and investigating instances of non-compliance with the E.A.S.E.TM Program, (ii) collecting, processing, and reporting to the other Party data necessary for the
administration of the E.A.S.E.TM Program, (iii) updating the E.A.S.E.TM Program and its associated materials in the ROW, and (iv) implementing such other measures are as reasonable or appropriate under the circumstances.

  

	14.	Sales Representative FTE Requirements. For the avoidance of doubt, GSK’s deployment of its personnel in the ROW shall have no effect on the calculation of
its Sales Representative FTE Requirements for the POI Product in the United States under the Agreement. 

  

	15.	Articles 7, 8 and 9. Solely for the purposes of Article 7, entitled, “Promotional Materials and Samples”, Article 8, entitled
“Information Concerning The Collaboration Products”, and Article 9, entitled, “Regulatory Matters”, Puerto Rico, Guam, and the U.S. Virgin Islands shall be considered to be a part of the United States, and not a
part of the ROW. 

  

	16.	Miscellaneous. This Amendment No. 5 shall be construed, and the respective rights of the Parties determined, according to the substantive law of the State
of Delaware notwithstanding the provisions governing conflict of laws under such Delaware law to the contrary. This Amendment No. 5 may be executed in any two counterparts, each of which, when executed, shall be deemed to be an original and
both of which together shall constitute one and the same document. This Amendment No. 5 may be executed by facsimile signatures, which signatures shall have the same force and effect as original signatures. The Parties acknowledge and agree
that the Agreement, as amended, shall supplement the terms and conditions of the Supply Agreement between Adolor and GSK, dated of even date herewith, (including, without limitation, with respect to the supply of POI Product in the ROW, information
required to be shared by the Parties, and indemnification by the Parties). Except as set forth in this Amendment No. 5, the Agreement shall remain in full force and effect, except that each reference to the “Agreement” or words of
like import in the Agreement will mean and be a reference to the Agreement as amended by this Amendment No. 5. 

  

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 IN WITNESS WHEREOF, duly authorized representatives of the Parties have duly executed this
Amendment No. 5 to Collaboration Agreement as of the Effective Date. 
  

			
	GLAXO GROUP LIMITED
		
	By:	 	 /s/ Paul Williamson

	Name:	 	Paul Williamson
	Title:	 	For and on behalf of Edinburgh Pharmaceutical Industries Limited Corporate Director
	
	ADOLOR CORPORATION
		
	By:	 	 /s/ Stephen W. Webster

	Name:	 	Stephen W. Webster
	Title:	 	Senior Vice President and Chief Financial Officer

  

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