Document:

Director Supplemental Retirement Plan Agreement

 Exhibit 10.7 
 EXPLANATORY NOTE 
 The Registrant has entered into director supplemental retirement plan agreements
with each of James G. Graham; J. Densil Worthington; James E. Hill, Jr.; Maudie M. Davis; Murchison B. Biggs; Alan W. Thompson; Crawford Monroe Enzor, III; Roger Dale Ward; and E. Autry Dawsey, Sr. These agreements are substantially identical in all
material respects except as to the parties thereto. In reliance on Instruction 2 to Item 601 of Regulation S-K, the Registrant is filing a copy of only one of the agreements. The following schedule identifies the other documents omitted and
sets forth the material details in which such documents differ from this Exhibit 10.7: 
  

			
	 Document Title
	  	 Party

	Director Supplemental Retirement Plan Agreement	  	J. Densil Worthington
		
	Director Supplemental Retirement Plan Agreement	  	James E. Hill, Jr.
		
	Director Supplemental Retirement Plan Agreement	  	Maudie M. Davis
		
	Director Supplemental Retirement Plan Agreement	  	Murchison B. Biggs
		
	Director Supplemental Retirement Plan Agreement	  	Alan W. Thompson
		
	Director Supplemental Retirement Plan Agreement	  	Crawford Monroe Enzor, III
		
	Director Supplemental Retirement Plan Agreement	  	Roger Dale Ward
		
	Director Supplemental Retirement Plan Agreement	  	E. Autry Dawsey, Sr.

 DIRECTOR SUPPLEMENTAL RETIREMENT 
 PLAN AGREEMENT 
 The
DIRECTOR SUPPLEMENTAL RETIREMENT PLAN AGREEMENT (this Agreement”) is made and entered into as of this 6th day of April, 2007 by and
between Waccamaw Bank, a bank organized and existing under the laws of the State of North Carolina (the “Bank”), and James G. Graham (the “Director”). 
 WHEREAS, the Director is a member of the board of directors (“Board”) of the Bank and Waccamaw Bankshares, Inc. (the “Company”) and has for many years faithfully served the Bank and Company.
It is the consensus of the Boards that the Director’s services have been of exceptional merit, in excess of the compensation paid, and an invaluable contribution to the profits and position of the Bank and Company. The Boards further believe
that the Director’s experience, knowledge of corporate affairs, reputation, and industry contacts are of such value, and the Director’s continued services so essential to the future growth and profits of the Bank and Company, that it would
suffer if the Director’s service were terminated, 
 ACCORDINGLY, effective as of the date first written above the Bank and the
Director desire to enter into an Director Supplemental Retirement Plan Agreement under which the Bank shall agree to make certain payments to the Director after the Director’s retirement or to the Director’s beneficiary(ies) after the
Director’s death (the “Director Plan”), 
 FURTHERMORE, the Bank and the Director intend that this Director Plan be
considered an unfunded arrangement maintained primarily to provide supplemental retirement benefits for the Director, and be considered a non-qualified benefit plan for purposes of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”). This Director Plan is also intended to comply with section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). The Director is fully advised of the Bank’s financial status and has had substantial
input in the design and operation of this benefit plan, and 
 NOW THEREFORE, in consideration of services the Director has performed
in the past and those to be performed in the future, and based upon the mutual promises and covenants herein contained, the Bank and the Director agree as follows. 
 I. DEFINITIONS 
  

	 	(A)	Effective Date: 

 The Effective Date
of the Director Plan is the date first written above. 
  

	 	(B)	Plan Year: 

 Plan Year means a
calendar year from January 1st to December 31st. In the year of implementation, the term “Plan Year” shall mean the period from Effective Date through December 31, 2007. 
  

	 	(C)	Retirement Date: 

 Retirement Date
means retirement from service with the Bank or the Company that becomes effective on the first day of the calendar month after the month in which the Director attains the Normal Retirement Age or such later date as the Director actually retires.

	 	(D)	Termination of Service: 

 Termination of Service means the Director’s voluntary resignation from service with the Bank or Company, the Director’s failure to be elected at any annual meeting of shareholders of the Bank or Company before the Normal
Retirement Age or the Director’s removal from office for “cause” by the shareholders of the Bank or Company at a meeting of shareholders held for such purpose. If there is a dispute about the status of the Director or the date of the
Director’s Termination of Service, the Bank shall have the sole and absolute right to decide the dispute unless a Change in Control shall have occurred. 
  

	 	(E)	Change in Control: 

 The term Change
in Control means a change in control as defined in Internal Revenue Code section 409A and rules, regulations, and guidance of general application thereunder issued by the Department of the Treasury, including – 
 (i) Change in ownership: a change in ownership of the Company occurs on the date any one person or group accumulates ownership of the
Company’s stock constituting more than 50% of the total fair market value or total voting power of the Company’s stock, 
 (ii)
Change in effective control: (x) any one person or more than one person acting as a group acquires within a 12-month period ownership of stock of the Company possessing 35% or more of the total voting power of the Company’s stock,
or (y) a majority of the Company’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed in advance by a majority of the Company’s board of directors, or 
 (iii) Change in ownership of a substantial portion of assets: a change in the ownership of a substantial portion of the Company’s assets
occurs if in a 12-month period any one person or more than one person acting as a group acquires assets from the Company having a total gross fair market value equal to or exceeding 40% of the total gross fair market value of all of the assets of
the Company immediately before the acquisition or acquisitions. For this purpose, gross fair market value means the value of the Company’s assets, or the value of the assets being disposed of, determined without regard to any liabilities
associated with the assets. 
  

	 	(F)	Normal Retirement Age: 

 Normal
Retirement Age means age 70. 
  

	 	(G)	Disability: 

 “Disability”
means the Director suffers a sickness, accident or injury determined by the carrier of any individual or group disability insurance policy covering the Director, or by the Social Security Administration, to be a disability rendering the Director
totally and permanently disabled. The Director must submit proof to the plan administrator (paragraph V) of the carrier’s or Social Security Administration’s determination upon the request of the plan administrator. 
 II. BENEFITS 
  

	 	(A)	Normal Retirement Age Benefits: 

 Subject to subparagraph II(D) hereinafter, a Director who remains in the service of the
Bank and the Company until the Normal Retirement Age shall be entitled to receive an annual benefit amount equal to the amount set forth in Exhibit A. Said payments shall be made monthly (1/12th of annual benefit) beginning 30 days after the
Director attains the Normal Retirement Age and shall continue for ten years. 
  

	 	(B)	Benefits for Termination of Service Before Normal Retirement Age: 

 If the Director suffers a Termination of Service, the Director shall be entitled to receive an annual benefit amount equal to the amount set forth in Exhibit A, or a percentage (indicated below) of that annual benefit
amount if the Director has not had four full years of service with the Bank and Company subsequent to the date of this Agreement. Unless Termination of Service occurs within six months before the Director’s Normal Retirement Age, payment of
benefits under this subparagraph II(B) shall commence 30 days after the Director’s Normal Retirement Age and shall continue for ten years. If Termination of Service occurs within six months before the Director’s Normal Retirement Age,
payment of benefits under this subparagraph II(B) shall commence in the seventh month after the month in which the Director’s Termination of Service occurs and shall continue for ten years.  
  

			
	 Number of Full Years

 of Employment from

 the Date of
this Agreement
	  	 Vested Percentage
(to a maximum of 100%)

	Less than 1	  	0%
	1	  	25%
	2	  	50%
	3	  	75%
	4	  	100%

  

	 	(C)	Death: 

 If the Director dies while
there is a balance in the Director’s accrued liability retirement account, 90 days after the Director’s death the unpaid balance shall be paid in a single lump sum to the individual or individuals designated in a writing by the Director
filed with the Bank. In the absence of or a failure to designate a beneficiary, the unpaid balance shall be paid in a lump sum to the personal representative of the Director’s estate. 
  

	 	(D)	Discharge for Cause: 

 Notwithstanding any provision of this Agreement to the contrary, the Bank shall not pay any benefit under this Agreement and this Agreement shall terminate if Termination of Service is a result of removal from office for Cause. The term
“Cause” means: 
 (i) A determination by the shareholders of the Bank or Company, in good faith, that the Director is engaging or
has engaged in willful misconduct or conduct which is detrimental to the business prospects of the Bank or Company or which has had or likely will have a material adverse effect on the business or reputation of the Bank or Company, 
 (ii) The violation by the Director of any applicable federal or state law, or any applicable rule, regulation, order or statement of policy promulgated by
any 

 
governmental agency or authority having jurisdiction over the Company, Bank or any of its affiliates or subsidiaries (a “Regulatory Authority,”
including without limitation the Board of Governors of the Federal Reserve, Federal Reserve Bank of Richmond, the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks), which results from the Director’s gross
negligence, willful misconduct, or intentional disregard of such law, rule, regulation, order, or policy statement and results in any substantial damage, monetary or otherwise, to the Company, Bank or any of its affiliates or subsidiaries or to the
reputation of the Company or Bank, 
 (iii) The commission in the course of the Director’s service with the Company or Bank of an act of
fraud, embezzlement, or theft or proven personal dishonesty (whether or not resulting in criminal prosecution or conviction), 
 (iv) The
conviction of the Director of any felony or any criminal offense involving dishonesty or breach of trust, or the occurrence of any event described in section 19 of the Federal Deposit Insurance Act or any other event or circumstance which
disqualifies the Director from serving as a Director of, or a party affiliated with, the Bank or Company, 
 (v) The Director becomes
unacceptable to, or is removed, suspended or prohibited from participating in the Company or Bank’s affairs (or if proceedings for that purpose are commenced) by any Regulatory Authority, or, 
 (vi) The occurrence of any event to have resulted in the Director being excluded from coverage, or having coverage limited as to the Director as compared
to other covered directors, under the Bank’s then current “blanket bond” or other fidelity bond or insurance policy covering its directors, officers or employees. 
  

	 	(E)	Disability Benefit: 

 If the Director’s service
is terminated because of Disability before Normal Retirement Age, the Director shall be entitled to receive the annual benefit amount set forth in Exhibit A upon submission to the Bank of written documentation and verification of Disability. Payment
of the annual benefit shall be made monthly (1/12th of annual benefit) beginning in the seventh month after the month in which the Director’s Termination of Service for Disability occurs and shall continue for ten years. 
  

	 	(F)	Change in Control: 

 After a Change in Control that
occurs before the Director attains Normal Retirement Age, the Director shall be entitled to receive [the unpaid accrued balance in a single lump sum][an annual benefit amount equal to the amount set forth in Exhibit A. Said payments shall be made
monthly (1/12th of annual benefit) beginning 30 days after the Director attains the Normal Retirement Age and shall continue for ten years. 
 III.
RESTRICTIONS UPON FUNDING AND BENEFIT ACCOUNTING 
 The Bank shall have no obligation to set aside, earmark, or entrust any fund or money
with which to pay its obligations under this Director Plan. The Director, the Director’s beneficiary(ies), or any successor in interest shall be and remain simply a general creditor of the Bank in the same manner as any other creditor having a
general claim for matured and unpaid compensation. 

 The Bank reserves the absolute right, in its sole discretion, to fund the obligations undertaken by this
Director Plan or to refrain from funding the same and to determine the extent, nature, and method of such funding. If the Bank elects to fund this Director Plan in whole or in part through the purchase of life insurance, mutual funds, disability
policies, or annuities, the Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time in whole or in part. At no time shall any Director be deemed to have any lien, nor right, title, or interest in or to any
specific funding investment or to any assets of the Bank. 
 If the Bank elects to invest in a life insurance, disability, or annuity policy
upon the life of the Director, the Director shall assist the Bank by freely submitting to a physical exam and supplying such additional information necessary to obtain such insurance or annuities. 
 The Bank shall account for the benefit provided herein using the regulatory accounting principles of the Bank’s primary federal regulator. The Bank
shall establish an accrued liability retirement account for the Director into which appropriate reserves shall be accrued. 
 IV. MISCELLANEOUS

  

	 	(A)	Alienability and Assignment Prohibition: 

 Neither
the Director nor the Director’s surviving spouse nor any other beneficiary(ies) under this Director Plan shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any
of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony, or separate maintenance owed by the Director or the Director’s beneficiary(ies), nor be transferable by
operation of law in the event of bankruptcy, insolvency, or otherwise. If the Director or any beneficiary attempts assignment, commutation, hypothecation, transfer, or disposal of the benefits hereunder, the Bank’s liabilities hereunder shall
forthwith cease and terminate. 
  

	 	(B)	Binding Obligation of the Bank and any Successor in Interest: 

 No sale, merger, or consolidation of the Company or the Bank shall occur unless the new or surviving entity expressly acknowledges the obligations under this Director Plan and agrees in writing to assume and discharge
the duties and obligations of the Bank under this Director Plan. This Director Plan shall be binding upon the parties hereto, their successors, beneficiaries, heirs, and personal representatives. 
  

	 	(C)	Amendment or Revocation: 

 Subject to paragraph VI,
it is agreed by and between the parties hereto that, during the lifetime of the Director, this Director Plan may be amended or revoked at any time or times, in whole or in part, by the mutual written consent of the Director and the Bank. 

 

	 	(D)	Gender:  

 Whenever in this Director Plan words are
used in the masculine or neuter gender, they shall be read and construed as in the masculine, feminine, or neuter gender, whenever they should so apply. 
  

	 	(E)	Effect on Other Bank Benefit Plans: 

 Nothing
contained in this Director Plan shall affect the right of the Director to participate in or be 

 
covered by any qualified or non-qualified pension, profit-sharing, group, bonus or other supplemental compensation or fringe benefit plan constituting a part
of the Bank’s existing or future compensation structure. 
  

	 	(F)	Headings: 

 Headings and subheadings in this
Director Plan are inserted for reference and convenience only and shall not be deemed a part of this Director Plan. 
  

	 	(G)	Applicable Law: 

 The laws of the State of North
Carolina shall govern the validity and interpretation of this Agreement. 
  

	 	(H)	12 U.S.C. § 1828(k): 

 Any payments made to the
Director under this Director Plan or otherwise are subject to and conditioned upon their compliance with 12 U.S.C. § 1828(k) or any regulations promulgated thereunder. 
  

	 	(I)	Partial Invalidity: 

 If any term, provision,
covenant, or condition of this Director Plan is determined by an arbitrator or a court, as the case may be, to be invalid, void, or unenforceable, such determination shall not render any other term, provision, covenant, or condition invalid, void,
or unenforceable, and the Director Plan shall remain in full force and effect notwithstanding such partial invalidity. 
 V. NAMED FIDUCIARY AND PLAN
ADMINISTRATOR 
  

	 	(A)	Named Fiduciary and Plan Administrator: 

 The
“Named Fiduciary and Plan Administrator” of this Director Plan shall be Waccamaw Bank until its resignation or removal by the Board. As Named Fiduciary and Plan Administrator, the Bank shall be responsible for the management, control and
administration of the Director Plan. The Named Fiduciary may delegate to others certain aspects of the management and operation responsibilities of the Director Plan including the employment of advisors and the delegation of ministerial duties to
qualified individuals. 
  

	 	(B)	Claims Procedure and Arbitration: 

 If a dispute
arises over benefits under this Director Plan and benefits are not paid to the Director (or to the Director’s beneficiary(ies) in the case of the Director’s death) and such claimants feel they are entitled to receive such benefits, then a
written claim must be made to the Named Fiduciary and Plan Administrator named above within 90 days from the date payments are refused. The Named Fiduciary and Plan Administrator shall review the written claim and if the claim is denied, in whole or
in part, they shall provide in writing within 90 days of receipt of such claim the specific reasons for such denial, reference to the provisions of this Director Plan upon which the denial is based and any additional material or information
necessary to perfect the claim. Such written notice shall further indicate the additional steps to be taken by claimants if a further review of the claim denial is desired. A claim shall be deemed denied if the Named Fiduciary and Plan Administrator
fail to take any action within the 90-day period. 

 If claimants desire a second review they shall notify the Named Fiduciary and Plan Administrator in
writing within 90 days of the first claim denial. Claimants may review this Director Plan or any documents relating thereto and submit any written issues and comments they may feel appropriate. In its sole discretion, the Named Fiduciary and Plan
Administrator shall then review the second claim and provide a written decision within 90 days of receipt of such claim. This decision shall likewise state the specific reasons for the decision and shall include reference to specific provisions of
the Plan Agreement upon which the decision is based. 
 If claimants continue to dispute the benefit denial based upon completed performance
of this Director Plan or the meaning and effect of the terms and conditions thereof, then claimants may submit the dispute to an arbitrator for final arbitration. The arbitrator shall be selected by mutual agreement of the Bank and the claimants.
The arbitrator shall operate under any generally recognized set of arbitration rules. The parties hereto agree that they and their heirs, personal representatives, successors and assigns shall be bound by the decision of such arbitrator with respect
to any controversy properly submitted to it for determination. 
 If a dispute arises as to the Bank’s discharge of the Director
“for cause,” such dispute shall likewise be submitted to arbitration as above described and the parties hereto agree to be bound by the decision thereunder. 
 VI. TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE LAW, RULES OR REGULATIONS 
 The Bank is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form. If any said assumptions should change and said change has a detrimental effect
on this Director Plan, then the Bank reserves the right to terminate or modify this Agreement accordingly. Upon a Change in Control, this paragraph shall become null and void effective immediately upon the Change in Control. 
 VII. COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 409A 
 The Bank and the Director intend that their exercise of authority or discretion under this Agreement shall comply with section 409A of the Internal Revenue Code of 1986. If when the Director’s service terminates the Director is a
specified employee, as defined in section 409A of the Internal Revenue Code of 1986, and if any payments under this Agreement will result in additional tax or interest to the Director because of section 409A, then despite any contrary provision of
this Agreement the Director will not be entitled to the payments until the earliest of (x) the date that is at least six months after termination of the Director’s employment for reasons other than the Director’s death, (y) the
date of the Director’s death, or (z) any earlier date that does not result in additional tax or interest to the Director under section 409A. As promptly as possible after the end of the period during which payments are delayed under this
provision, the entire amount of the delayed payments shall be paid to the Director in a single lump sum, unless regular monthly installment payments beginning after a six-month delay are specifically provided for in this Agreement. If any provision
of this Agreement does not satisfy the requirements of section 409A, such provision shall nevertheless be applied in a manner consistent with those requirements. If any provision of this Agreement would subject the Director to additional tax or
interest under section 409A, the Bank shall reform the provision. However, the Bank shall maintain to the maximum extent practicable the original intent of the applicable provision without subjecting the Director to additional tax or interest, and
the Bank shall not be required to incur any additional compensation expense as a result of the reformed provision. References in this Agreement to section 409A of the Internal Revenue Code of 1986 include rules, regulations, and guidance of general
application issued by the Department of the Treasury under Internal Revenue Code section 409A. 

 IN WITNESS WHEREOF, the parties hereto acknowledge that each has carefully read this Director
Supplemental Retirement Plan Agreement and executed the original thereof as of date first set forth above, and that upon execution each has received a conforming copy. 
  

							
	 	 	 	 	WACCAMAW BANK
		 		 	Whiteville, North Carolina
				
		 		 	By:	 	 /s/ Alan W. Thompson

		 		 	Its:	 	Chairman of the Board
				
	 /s/ Michelle W. Ward
	 		 		 	
	Witness	 		 		 	
				
	[Corporate Seal]	 		 		 	
			
		 		 	DIRECTOR
			
		 		 	 /s/ James G. Graham

		 		 	James G. Graham

  

 15 

 Exhibit A 
  

								
	 Participant
	  	Age to
Retire	  	Annual
Retirement Benefit	  	Years of
Benefit
	 James G. Graham
	  	70	  	$	10,000	  	10Employment Agreement, dated as of May 22, 2008 - David O'Toole

 Exhibit 10.22 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
May 22, 2008 between Abraxis BioScience, LLC, a Delaware limited liability company (the “Company”) and David D. O’Toole (the “Executive”). 
 RECITAL 
 The Company desires to employ the Executive, and the Executive desires to be so employed by
the Company, on the terms and subject to the conditions set forth in this Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the premises and the mutual promises set forth in this Agreement, the Company and the Executive hereby agree as
follows: 
  

	 	1.	Definitions. Unless otherwise defined herein, the capitalized terms defined in Exhibit A shall have the meanings therein specified for all purposes of this Agreement.

  

	 	2.	Employment 

  

	 	(a)	Subject to the terms and conditions contained herein, the Company hereby agrees to employ the Executive, and the Executive accepts such employment, on the Effective Date until the
Termination Date. 

  

	 	(b)	During the Executive’s employment under this Agreement, the Executive shall render services to the Company and its parent Abraxis BioScience, Inc., (the “Parent”) in
the position of Executive Vice-President and Chief Financial Officer of Company and Parent, subject to Board of Director approval and such other title or titles as may be assigned to the Executive by the Board. For purposes hereof the date of the
Board approval shall be the “Effective Date.” The Executive shall perform such duties and responsibilities as are normally related to such positions, subject to such modified or additional duties (that are not materially inconsistent with
duties and responsibilities as are normally related to such positions) as may be assigned by the Board or the Chief Executive Officer. The Executive will report to the Chief Executive Officer. 

  

	 	(c)	In performing his services hereunder, the Executive shall abide by the rules, regulations, and practices of the Company (and, if applicable, the Parent) as adopted or modified from
time to time in the sole discretion of the Company (or, if applicable, the Parent). 

  

	 	(d)	The Executive will devote his entire business time, energy, attention and skill to the services of the Company (and, if applicable, the Parent) and to the promotion of its
interests. So long as the Executive is employed by the Company, the Executive shall not, without the written consent of the Company: 

  

	 	(i)	engage in any other activity for compensation, profit or other pecuniary advantage, whether received during or after the term of this Agreement; 

  

 1 

	 	(ii)	render or perform services of a business, professional, or commercial nature other than to or for the Company (or, if applicable, the Parent), either alone or as an employee,
consultant, director, officer, or partner of another business entity (including serving on boards of directors), whether or not for compensation; or 

  

	 	(iii)	plan or otherwise take any preliminary steps, either alone or in concert with others, to establish or engage in any business or activity that would compete with the current or
proposed business of the Company (and, if applicable, the Parent); 

 provided, that it shall not be a violation of this
Agreement for the Executive to (A) serve on civic or charitable boards, (B) manage personal investments, (C) serve on corporate boards, or (D) engage in such other activities as the Chief Executive Officer may approve, so long as
such activities do not interfere materially with the performance of the Executive’s duties and responsibilities to the Company (and, if applicable, the Parent). 
  

	 	(e)	Prior to or concurrently with the execution of this Agreement, the Executive has executed an Executive Proprietary Information, Trade Secret and Confidentiality Agreement (the
“Confidentiality Agreement”). 

  

	 	3.	Location of Employment: The Executive’s principal place of employment shall initially be at the Company’s offices in Los Angeles, California; provided that at the
reasonable direction of the Chief Executive Officer the Executive may, from time to time, be required to travel to various domestic and foreign locations for purposes consistent with his duties hereunder. 

  

	 	4.	Compensation. 

  

	 	(a)	In exchange for full performance of the Executive’s obligations and duties under this Agreement, the Company shall pay the Executive a salary at the rate of Four Hundred
Thousand ($400,000.00) per year (“Base Salary”). The Base Salary shall be paid in accordance with the Company’s regularly established payroll practice. The Base Salary will be reviewed from time to time in accordance with the
established procedures of the Company for adjusting salaries for similarly situated employees and may be adjusted in the sole discretion of the Board or the Company’s Compensation Committee. Such adjusted salary shall become the “Base
Salary.” 

  

	 	(b)	The Base Salary hereof is a gross amount, and the Company shall be required to withhold from such amount deductions with respect to Federal, state and local taxes, FICA,
unemployment compensation taxes and similar taxes, assessments or withholding requirements. 

  

 2 

	 	(c)	During the Executive’s employment under this Agreement, the Executive shall also be reimbursed by the Company for reasonable business expenses actually incurred or paid by the
Executive, consistent with the policies established by the Board, in rendering to the Company the services provided for in this Agreement. 

  

	 	(d)	The Executive shall be entitled to vacation and sick leave on terms equivalent to those of other executive officers of the Company. The Executive shall accrue four (4) weeks of
vacation in his first year of employment with the Company in accordance with the Company’s standard vacation policy. 

  

	 	(e)	The Executive shall be entitled to participate in all benefit plans (including but not limited to any medical, dental, life insurance, retirement and disability plans) and to all
perquisites which shall be available from time to time to the executive officers of the Company generally; provided, however, that the Executive shall have no right to participate in any stock option, stock purchase or other plan relating to shares
of capital stock of the Company or its affiliates (except as provided in subsection (f) below). The Executive acknowledges and agrees that the Company may, in its discretion, terminate at any time or modify from time to time any such benefit
plans. 

  

	 	(f)	Commencing in 2009 (for stock option awards determined by the Board with respect to the 2008 fiscal year), the Executive shall be eligible to receive annual grants of stock options
or other equity awards (at the same time such grants are made to the other executive officers of the Company), in such amounts and subject to such terms as may be determined in the sole discretion of the Board or the Parent’s Compensation
Committee. 

  

	 	(g)	The Executive shall be eligible to receive an annual bonus in such amount, and subject to such performance targets and other factors, as may be determined in the sole discretion of
the Board or the Parent’s Compensation Committee. The target bonus amounts and performance targets for the Executive shall be established at the same time such amounts and targets are established for the other executive officers of the Company,
and any bonuses earned shall be paid at the same time as bonuses for other executive officers. The Executive acknowledges that his target bonus for the 2008 fiscal year will be fifty percent (50%) of his Base Salary and will not be prorated for
the partial year as determined by the Parent pursuant to its standard policy (“Target Bonus”). 

  

	 	(h)	Subject to Board approval and determination as to the number of stock options, the Parent will provide the Executive with an option to purchase shares of the Parent’s common
stock, which option (a) shall have an exercise price equal to the trading price of the Parent’s common stock at the grant date, (b) shall vest in equal installments over a four year period, (c) shall be evidenced by the
Parent’s standard form of stock option agreement for its officers and shall otherwise be subject to the terms and conditions of the Parent’s stock incentive plan. The stock options granted by the Board shall be no less than those options
typically granted to executive officers of the Parent. 

  

 3 

	 	(i)	Within thirty (30) days of the Effective Date the Company shall pay to the Executive a one-time sign on bonus of Fifty Thousand Dollars ($50,000.00) in cash (“Sign On
Bonus”). If the Executive voluntarily terminates his employment with the Company pursuant to Section 6(e)(i), (other than for “Good Reason” as set forth in Section 6(e)(ii)) on or before the expiration of one (1) year
from the Effective Date the Executive shall repay the Company the Sign On Bonus in cash within thirty (30) days of his Termination Date. 

  

	 	(j)	Other than as expressly set forth in this Section 4, the Executive shall not receive any other compensation or benefits from the Company or the Parent, except to the extent
provided by the Board. 

  

	 	5.	Term. The Executive’s employment hereunder shall commence on the Effective Date and shall continue in effect until terminated pursuant to Section 6 below.

  

	 	6.	Termination. The Executive’s employment hereunder may be terminated as follows: 

  

	 	(a)	The employment of the Executive under this Agreement shall terminate on the date of the Executive’s death. 

  

	 	(b)	The employment of the Executive under this Agreement may be terminated by the Company immediately upon giving the Executive notice if the Executive becomes Disabled.

  

	 	(c)	The employment of the Executive under this Agreement may be terminated by the Company immediately upon giving the Executive notice upon the occurrence of Cause.

  

	 	(d)	In addition to the circumstances described in subsection (c) above, the Company may terminate the Executive’s employment at any time (immediately upon giving notice to the
Executive) for any reason or no reason, with or without Cause or prior notice; provided, that a cessation of the Company’s employment of the Executive in connection with a Sale Transaction shall not be deemed for purposes of this Agreement to
be a termination of the Executive by the Company if the Successor assumes and agree to perform the Company’s obligations hereunder. 

  

	 	(e)	(i) The Executive may voluntarily terminate his employment under this Agreement by giving the Chief Executive Officer written notice of his resignation signed by the Executive
or, if no notice is given, on the date on which the Executive voluntarily terminates his employment relationship with the Company. (ii) Such voluntary termination shall be deemed for purposes hereof to have occurred for “Good Reason”
only if (1) the Executive provides written notice to the Company within twenty (20) days after the Executive becomes aware of the circumstances giving rise to “Good Reason”, (2) the Company fails to correct the circumstances
giving rise to “Good Reason” within thirty (30) days following receipt of such notice and (3) the Executive resigns within fifteen (15) days following such thirty (30) day period. 

  

 4 

	 	7.	Consequences of Termination. 

  

	 	(a)	If the employment of the Executive under this Agreement is terminated pursuant to 6(a) (death), 6(b) (disability), 6(c) (termination With Cause) or 6(e)(i) (voluntary termination,
other than for Good Reason), then (i) the Company shall pay the Executive (or, as applicable, his heirs, estate or representative) the Accrued Compensation, (ii) the Company shall provide to the Executive (or his dependents, as applicable)
such benefits, if any, as may be required to be provided by the Company under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and any disability policy of the Company applicable to the Executive, (iii) the Executive (or,
as applicable, his heirs, estate or representative) shall be entitled to vested benefits, stock options and other equity awards as applicable, and (iv) the Executive shall not be entitled to any other compensation or benefits from the Company,
under this Agreement or otherwise. The Accrued Compensation shall be paid promptly after termination of employment, provided that the benefits and amounts accrued under the plans and programs shall be paid or provided in accordance with such plans
or programs. 

  

	 	(b)	If the employment of the Executive under this Agreement is terminated pursuant to Section 6(d) (termination Without Cause) or Section 6(e)(ii) (voluntary termination for
Good Reason), then the Executive shall not be entitled to any compensation or benefits from the Company, under this Agreement or otherwise, except for the following: 

  

	 	(i)	The Company shall pay to the Executive all Accrued Compensation and the Executive shall be eligible for COBRA benefits described in Section 7(a); 

  

	 	(ii)	 Following the Termination Date, the Company shall (so long as the termination of the Executive’s employment qualifies as a “separation from service”
under Section 409A) pay the Executive, in substantially equal monthly installments over the duration of the Severance Period, an aggregate amount (the “Severance Amount”) equal to to the sum of (A) 150% of the Base Amount plus
(B) the Severance Bonus Amount Notwithstanding the preceding sentence and any other provision of this Agreement to the contrary, if the Executive is a “specified employee” within the meaning of Section 409A at the time of the
Executive’s termination, then to the extent the portion of the Severance Amount and the benefits provided under this Agreement, together with any other severance payments or benefits that may be considered deferred compensation under
Section 409A, which exceed the Section 409A Limit or which do not 

  

 5 

	 	 
qualify as separation pay under Treasury Regulation Section 1.409A-1(b)(9)(iii) that would otherwise be payable within the first six (6) months
following the Termination Date, shall not be paid during such six- month period. Instead, such portion of the Severance Amount and any such benefits shall accrue during the six (6) month period and be paid in a lump sum on the date six
(6) months and one (1) day following the Termination Date. 

  

	 	(iii)	The vesting of the stock options and other equity awards granted to the Executive shall accelerate so that such options and other equity awards shall have vested to the same extent
as would if the Executive were terminated on the last day of the Severance Period; 

 provided, that the Executive shall not be
entitled to receive any post-termination benefits described in clause (ii), and (iii) of this subsection (b) unless, within twenty-one (21) days following the Termination Date, he executes and delivers to the Company a Release of
Claims in the form attached as Exhibit B hereto. 
  

	 	(c)	The Executive agrees that all property (including, without limitation, all equipment, tangible proprietary information, documents, records, notes, contracts and computer-generated
materials) furnished to or created or prepared by Executive incident to Executive’s employment belongs to the Company (or, as applicable, the Parent) and shall be promptly returned to the Company upon termination of the Executive’s
employment. 

  

	 	(d)	Upon termination of the Executive’s employment, the Executive shall be deemed to have resigned from all offices and directorships then held with the Company, the Parent, and
each of their subsidiaries. Following any termination of employment, the Executive shall reasonably cooperate with the Company (i) in the winding up of pending work on behalf of the Company and the orderly transfer of work to other employees
and (ii) in the defense of any action brought by any third party against the Company or the Parent that relates to the Executive’s employment by the Company; provided, that in each case the Company shall reimburse the executive for any
out-of-pocket fees and expenses incurred by the Executive in connection with such cooperation. 

  

	 	8.	Additional Post-Termination Obligations. 

  

	 	(a)	 The Executive acknowledges that (x) because of his position with the Company, he will have access to the information about the operations, business strategies
and customers, and other valuable proprietary information and trade secrets, of the Company, the Parent and their affiliates (y) the use or disclosure of such information and trade secrets in violation of this Agreement would be extremely
difficult to detect or prove and (z) any activities restricted 

  

 6 

	 	 
by this Section 8 would necessarily involve the use or disclosure of the Company’s and/or the Parent’s trade secrets and/or proprietary
information. Accordingly, the Executive agrees that from the date hereof until after the twelve month anniversary of the Termination Date, the Executive will not, directly or indirectly: 

  

	 	(i)	engage in any business activity that is or may reasonably be found to be in competition with the business of the Company or the Parent (or any of their subsidiaries or affiliates),
as such business may exist at any time from the Effective Date through the Termination Date; provided, that nothing in this Agreement shall be deemed to prohibit Executive from owning not more than one percent (1%) of any class of publicly
traded securities of a competitor. 

  

	 	(ii)	Solicit, raid, entice or induce any employee of the Company or the Parent (or any of their subsidiaries or affiliates) to be employed by any competitor thereof (except to the extent
that such employee has first responded to a general advertisement or general employment search by Executive’s place of employment at the time); 

  

	 	(iii)	Solicit business for any competitor from, or transact such business for any competitor with, any person, firm or corporation which was, at any time during Executive’s
employment hereunder, a customer of the Company or the Parent (or any of their subsidiaries or affiliates); or 

  

	 	(iv)	Assist a competitor in taking such action. 

  

	 	(b)	Executive agrees that he will not disparage, or otherwise communicate to anyone, information which may be harmful to the business or the business reputation of the Company or the
Parent (or any of their subsidiaries or affiliates) or their respective employees, officers, directors, customers, suppliers, successors, and assigns, including without limitation, negative comments about any such company, its management methods,
policies and/or practices. Notwithstanding the foregoing, Executive may respond accurately and fully to any question, inquiry or request made in connection with any governmental inquiry, investigation, review, audit, or proceeding, or as otherwise
required by law. 

  

	 	(c)	If the Executive fails to perform his obligations under this Section 8, then the Company may, in addition to any rights and remedies then available to the Company (under
Section 11 hereof or otherwise), cease providing the payments and benefits described in Section 7(b) so long as such failure, if reasonably capable of being cured, is not cured by the Executive within thirty (30) days following a
written notice from the Company of such failure to perform. 

  

 7 

	 	9.	Representations. 

  

	 	(a)	The Executive represents that he has full authority to enter into this Agreement and is not under any contractual restraint which would prohibit the Executive from satisfactorily
performing his duties to the Company (and, if applicable, the Parent) under this Agreement. 

  

	 	(b)	The Executive hereby agrees to indemnify and hold harmless the Company, the Parent, and their respective officers, directors and stockholders from and against any losses,
liabilities, damages or costs (including reasonable attorney’s fees) arising out of a material breach of any of the representations, warranties and covenants of the Executive set forth in this Agreement. 

  

	 	(c)	The Executive acknowledges that he is free to seek advice from independent counsel with respect to this Agreement. The Executive has either obtained such advice or, after carefully
reviewing this Agreement, has decided to forego such advice. The Executive is not relying on any representation or advice from the Company or the Parent or any of their respective officers, directors, attorneys or other representatives regarding
this Agreement, its content or effect. 

  

	 	10.	Arbitration. Subject to Section 11 below, the parties acknowledge and agree to the provisions of the Arbitration Agreement attached hereto as Exhibit C and incorporated
by this reference. 

  

	 	11.	Equitable Relief. Notwithstanding Section, 10 above, the Executive acknowledges that the Company and the Parent are relying for its protection upon the existence and validity
of the provisions of this Agreement, that the services to be rendered by the Executive are of a special, unique and extraordinary character, and that irreparable injury will result to the Company and/or the Parent from any violation or continuing
violation of the provisions of Section 8 for which damages may not be an adequate remedy. Accordingly, the Executive hereby agrees that in addition to the remedies available to the Company and/or the Parent by law or under this Agreement, the
Company and/or the Parent shall be entitled to obtain such equitable relief as may be permitted by law in a court of competent jurisdiction including, without limitation, injunctive relief from any violation or continuing violation by the Executive
of any term or provision of Section 8. If the Company and/or the Parent seeks to enforce its rights under this Section 11, the prevailing party or parties shall be entitled to recover reasonable fees, costs and expenses incurred in
connection therewith including, without limitation, the fees, costs and expenses of attorneys, accountants and experts, whether or not litigation is instituted, and including such fees, costs and expenses of appeals. 

  

 8 

	 	12.	Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the internal substantive laws (and not the laws of conflicts) of the State of
California. 

  

	 	13.	Entire Agreement. This Agreement (including the Exhibits hereto) constitutes the whole agreement of the parties hereto in reference to any employment of the Executive by the
Company and in reference to any of the matters or things herein provided for or hereinabove discussed or mentioned in reference to such employment; all prior agreements, promises, representations and understandings relative thereto being herein
merged. 

  

	 	14.	Assignability. 

  

	 	(a)	This Agreement is personal in nature and the Executive shall not, without the written consent of the Company, assign or transfer this Agreement or any rights or obligations
hereunder. 

  

	 	(b)	Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give to any person, other than the parties to this Agreement, any right, remedy or
claim under or by reason of this Agreement or of any term, covenant or condition of this Agreement; provided, that Section 11 hereof shall run to the benefit of, and be enforceable by, the Parent. 

  

	 	15.	Amendments; Waivers.  

  

	 	(a)	This Agreement may be amended, modified, superseded, canceled, renewed or extended and the terms or covenants of this Agreement may be waived only by a written instrument executed
by the parties to this Agreement or, in the case of a waiver, by the party waiving compliance. Any such written instrument must be approved by the Board to be effective as against the Company. The failure of any party at any time or times to require
performance of any provision of this Agreement shall in no manner affect the right at a later time to enforce the same. No waiver by any party of the breach of any term or provision contained in this Agreement, whether by conduct or otherwise, in
any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such breach, or a waiver of the breach of any other term or covenant contained in this Agreement. 

  

	 	(b)	 This Agreement is intended to comply with Section 409A (as amplified by any Internal Revenue Service or U.S. Treasury Department guidance), and shall be
construed and interpreted in accordance with such intent. The Executive and the Company acknowledge that the Executive and the Company intend that the compensation arrangements set forth in this Agreement are in compliance with Section 409A,
and the Executive and the Company agree to cooperate with one another, to the extent reasonably requested by the other party, to restructure any compensation set forth in this Agreement in a manner, if possible and without any increase in cost to
the Company, such that no earlier and/or additional taxes to the Executive or the Company will arise under Section 409A. Any 

  

 9 

	 	 
provision of this Agreement that would cause the payment of any benefit to fail to satisfy Section 409A shall have no force and effect until amended to
comply with Section 409A (which amendment may be retroactive to the extent permitted by the Code or any regulations or rulings thereunder). With regard to any provision hereby that provides that a payment shall be made promptly after a date,
such payment shall be made within thirty (30) days thereafter. 

  

	 	16.	Notice. All notices, requests or consents required or permitted under this Agreement shall be made in writing and shall be given to the other parties by personal delivery,
registered or certified mail (with return receipt), overnight air courier (with receipt signature) or facsimile transmission (with “answerback” confirmation of transmission), sent to such party’s addresses or telecopy numbers as are
set forth below such party’s signatures to this Agreement, or such other addresses or telecopy numbers of which the parties have given notice pursuant to this Section 16. Each such notice, request or consent shall be deemed effective upon
the date of actual receipt, receipt signature or confirmation of transmission, as applicable (or if given by registered or certified mail, upon the earlier of (i) actual receipt or (ii) three days after deposit thereof in the United States
mail). 

  

	 	17.	Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  

	 	18.	Survival. The representations and agreements of the parties set forth in Sections 7 (Consequences of Termination), 8 (Additional Post-Termination Obligations), 9
(Representations), 10 (Arbitration), and 11 (Equitable Relief), of this Agreement shall survive the expiration or termination of this Agreement (irrespective of the reason for such expiration or termination). 

  

 10 

 IN WITNESS WHEREOF, the parties to this Agreement have executed this Employment Agreement
as of the date first above written. 
  

			
	Abraxis BioScience, LLC
	
	 /s/    Patrick Soon-Shiong

	By:	 	Patrick Soon-Shiong, M.D.
	Its:	 	Chief Executive Officer

  

			
	Address for Notices:	  	11755 Wilshire Blvd., 20th Floor
		  	Los Angeles, California 90025

 By signing below, the undersigned acknowledges and agrees that, except as expressly set forth in a
written agreement signed by an authorized representative of the Company, the undersigned (i) has not been promised any equity interests in the Company or any of its subsidiaries, affiliates or predecessors and (ii) does not and will not
have any right to any equity interests in the Company or any of its subsidiaries, affiliates or predecessors. 
  

			
	 /s/    David D. O’Toole

	David D. O’Toole
		
	Address for Notices:	 	725 Plymouth Rd.
		 	San Marino, CA 91108

  

 11 

 EXHIBIT A 
 DEFINITIONS 
 “Accrued Compensation” shall mean (i) all base salary and vacation pay accrued
through the Termination Date and (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date. 
 “Base Amount” shall mean the amount of Executive’s annual base salary at the highest base salary in effect during the one year period ending on the
Termination Date. 
 “Board” shall mean the Board of Directors of the Parent. 
 “Cause” shall mean any of the following (i) Executive commits a material breach of this Agreement, the Confidentiality Agreement, or any policy of the Company; which breach is not cured to the
satisfaction of the Board within twenty days after written notice to Executive from the Company; (ii) the Executive fails (other than a failure resulting from a Disability) to substantially perform his duties hereunder, or to implement or
follow a lawful policy or directive of the Company, and such failure continues for a period of twenty days after written notice to Executive from Company; (iii) the Executive is indicted for a crime involving dishonesty, breach of trust,
physical harm to any person or serious moral turpitude, (iv) the Executive engages in dishonesty, gross negligence or willful misconduct in the performance of his duties, as reasonably determined by the Board, (v) the Executive engages in
conduct which is materially injurious to the Company (monetarily or otherwise) or which constitutes a material violation of federal or state law relating to the Company or its business. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 “Common Stock” shall
mean the Company’s Common Stock. 
 “Disability” means (i) the Executive becomes eligible for the Company’s long term
disability benefits or (ii) in opinion of the Board, Executive has been unable to carry out the responsibilities and functions of the position held by Executive by reason of any physical or mental impairment for more than ninety consecutive
days or more than one hundred and twenty days in any twelve-month period. 
 “Good Reason” means, without the Executive’s express
written consent, the occurrence of any of the following circumstances: (i) there is a change in the Executive’s status or responsibilities which represents a material and adverse change from the Executive’s overall status or
responsibilities, taken as a whole; or (ii) the Executive is required to be based at any place outside a fifty (50) mile radius from Los Angeles, California without his written consent, except for travel that is reasonably necessary in
connection with the Company’s business; (iii) a reduction in the Executive’s Base Salary or benefits (unless such reduction applies similarly to all other officers of the Company); or (iv) any failure by a Successor to assume and
agree to perform the Company’s obligations hereunder. 
 “Parent” shall mean Abraxis BioScience, Inc., a Delaware corporation.

  

 1 

 “Sale Transaction” shall mean (i) a transaction (including a stock sale, merger, consolidation,
reorganization or recapitalization) pursuant to which the holders of the voting capital stock of the Company immediately prior to such transaction (or their affiliates) cease to beneficially own more than fifty percent (50%) of voting capital
stock of the Company or its successor (or, if there is a parent of the Company following such transaction, of the ultimate parent) immediately following such transaction, (ii) a transaction (including a merger, consolidation, reorganization or
recapitalization) pursuant to which the holders of the voting capital stock of the Parent immediately prior to such transaction (or their affiliates) cease to beneficially own more than fifty percent (50%) of voting capital stock of the Parent
or its successor (or, if there is a parent of the Parent following such transaction, of the ultimate parent) immediately following such transaction ,(iii) the Company sells all or substantially all of its assets to a third party. 
 “Section 409A” shall mean Section 409A of the Code, together with and the related final regulations thereunder and other guidance relating
thereto. 
 “Section 409A Limit” shall mean payments that qualify under Treasury Regulations 1.409A-1(b)(9)(v)(C) and (D) as not
providing for a “deferral of compensation” under Section 409A. 
 “Successor” shall mean the successor or transferee in a
Sale Transaction. 
 “Severance Bonus Amount” shall mean (i) if the Termination Date occurs prior to the
payment to the Executive of the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2008, an amount equal to his Target Bonus for 2008, pro rated over the number of days of employment in the calendar year in
which the Termination Date occurs, or (ii) if the Termination Date occurs after the payment to the Executive of the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2008 (but prior to the payment with
respect to 2009), an amount equal to such payment, pro rated over the number of days of employment in the calendar year in which the Termination Date occurs or (iii) if the Termination Date occurs after the payment to the Executive of the
annual incentive payment under the Company’s cash bonus incentive plan with respect to 2009, an amount equal to the average of the last two annual incentive payments paid or payable to the Executive prior to the Termination Date, pro rated over
the number of days of employment in the calendar year in which the Termination Date occurs.  
 “Severance Period” shall mean
the period commencing on the Termination Date and ending on the twelve month anniversary of such Termination Date. 
 “Termination Date”
means the date on which the Executive’s employment is terminated pursuant to Section 6 hereof. 
  

 2 

 EXHIBIT B 
 RELEASE 
 In consideration for the payments described in Section 7 of the Agreement, the
Executive hereby releases and discharges Abraxis BioScience, LLC, Abraxis BioScience, Inc., and any subsidiaries or affiliates thereof (collectively the “Company”), and their respective directors, officers, employees, benefit plans and
administrators, successors and assigns from any and all claims, obligations, and liabilities, whether known or unknown, at law or in equity, arising out of the Executive’s employment with the Company and the termination thereof. This Release is
to be broadly construed so as to resolve all pending or potential disputes including, but without limiting the generality of the foregoing, any and all claims under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit
Protection Act of 1990, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Employee Retirement Income Security Act of 1974, the Equal Pay Act, the Family and Medical Leave Act, the discrimination and wage payment
laws of the State of California, and any other statute, regulation, or ordinance, and any and all claims based upon alleged wrongful or retaliatory discharge, negligence, intentional infliction of emotional distress, defamation, invasion of privacy,
other torts, harassment, employment discrimination or breach of contract (express or implied). Notwithstanding the foregoing, Executive does not waive any rights Executive may have to enforce the terms of the Employment Agreement, if any, to amounts
or benefits to be paid or provided after termination under the Employment Agreement or any Company-sponsored employee benefit plan, to insurance protection and/or indemnification for actions taken by the Executive while an employee, officer and/or
director of the Company or to make any claims for workers’ compensation. 
 Executive acknowledges and agrees that: (a) Executive
has read and understands this Release in its entirety; (b) Executive has been advised in writing to consult with an attorney concerning this Release before signing it. This subparagraph constitutes such written advice; (c) Executive has
twenty-one (21) calendar days after receipt of this Release to consider its terms before signing it; (d) nothing contained in this Release waives any claim that may arise after the date of its execution; and (e) Executive executes
this Release knowingly and voluntarily, without duress or reservation of any kind, and after having given the matter full and careful consideration. 
 Executive has the right to revoke this Release in full within seven (7) calendar days of
executing it. Any revocation must be personally delivered to the General Counsel of the Company or his designee, or mailed to Abraxis BioScience, LLC, 11755 Wilshire Blvd., 20th Floor, Los Angeles, California 90025 and postmarked within seven (7) calendar days of the date of execution of this Release. None of the terms and provisions of this Release shall become effective or be
enforceable until such revocation period has expired. 
  

 3 

 EXHIBIT C 
 ARBITRATION 
 1. Any controversy or claim arising out of, relating to or in connection with this
Agreement, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association (“AAA”) in accordance with its then existing Commercial Arbitration rules and judgment upon the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. 
 2. It is the express agreement of the parties that the provisions of
this Section, including the rules of the AAA , as modified by the terms of this Exhibit C, shall govern the arbitration of any disputes arising pursuant to this Agreement. In the event of any conflict between the law of the State of California, the
law of the arbitral location, and the U.S. Arbitration Act (Title 9, U.S. Code), with respect to any arbitration conducted pursuant to this Agreement, to the extent permissible, it is the express intent of the parties that the law of
California, as modified herein, shall prevail. Either party (the “Initiating Party”) may commence an arbitration by submitting a Demand for Arbitration under the AAA Rules and by notice to the other Party (the “Respondent”) in
accordance with Section 16. Such notice shall set forth in reasonable detail the basic operative facts upon which the Initiating Party seeks relief and specific reference to the clauses of this Agreement, the amount claimed, if any, and any
non-monetary relief sought against the Respondent. After the initial list of issues to be resolved has been submitted, the arbitrators shall permit either party to propose additional issues for resolution in the pending proceedings. 
 3. The place of arbitration shall be Los Angeles, or any other place selected by mutual agreement. 
 4. The parties shall attempt, by agreement, to nominate a sole arbitrator for confirmation by the AAA. If the parties fail so to nominate a sole
arbitrator within thirty (30) days from the date when the Initiating Party’s Demand for Arbitration has been communicated to the other party, a board of three arbitrators shall be appointed by the parties jointly or, if the parties cannot
agree as to three arbitrators within thirty (30) days after the commencement of the arbitration proceeding, then one arbitrator shall be appointed by each of Executive and the Company within sixty (60) days after the commencement of the
arbitration proceeding and the third arbitrator shall be appointed by mutual agreement of such two arbitrators. If such two (2) arbitrators shall fail to agree within seventy-five (75) days after commencement of the arbitration proceeding
upon the appointment of the third arbitrator, the third arbitrator shall be appointed by the AAA in accordance with its then existing rules. Notwithstanding the foregoing, if any party shall fail to appoint an arbitrator within the specified time
period, such arbitrator and the third arbitrator shall be appointed by the AAA in accordance with its then existing rules. For purposes of Section 10, the “commencement of the arbitration proceeding” shall be deemed to be the date
upon which the Demand for Arbitration has been received by the AAA. Any award shall be rendered by a majority of the members of the board of arbitration. 
  

 4 

 5. An award rendered in connection with an arbitration pursuant to Section 10 shall be final and
binding upon the parties, and any judgment upon such an award may be entered and enforced in any court of competent jurisdiction. 
 6. The
parties agree that the award of the arbitral tribunal will be the sole and exclusive remedy between them regarding any and all claims between them with respect to the subject matter of the arbitrated dispute. The parties hereby waive all
jurisdictional defenses in connection with any arbitration hereunder or the enforcement of any order or award rendered pursuant thereto (assuming that the terms and conditions of this arbitration clause have been complied with). 
 7. With respect to any award issued by the arbitrators pursuant to this Agreement, the parties expressly agree (i) that such order shall be
conclusive proof of the validity of the determination(s) of the arbitrators underlying such order; and (ii) any federal court sitting in Los Angeles, California, or any other court having jurisdiction, may enter judgment upon and enforce such
order, whether pursuant to the U.S. Arbitration Act, or otherwise. 
 8. The arbitrators shall issue a written explanation of the reasons for
the award and a full statement of the facts as found and the rules of law applied in reaching their decision to both parties. The arbitrators shall apportion to each party all costs (other than attorneys’ fees) incurred in conducting the
arbitration in accordance with what the arbitrators deem just and equitable under the circumstances. The prevailing party shall be entitled to recover its attorneys’ fees from the other party. Any provisional remedy which would be available to
a court of law shall be available from the arbitrators pending arbitration of the dispute. Either party may make an application to the arbitrators seeking injunctive or other interim relief, and the arbitrators may take whatever interim measures
they deem necessary in respect of the subject matter of the dispute, including measures to maintain the status quo until such time as the arbitration award is rendered or the controversy is otherwise resolved. The arbitrator shall have the authority
to award any remedy or relief that a court of the State of California could order or grant, including, without limitation, specific performance of any obligation created under this Agreement, the issuance of an injunction, or the imposition of
sanctions for abuse or frustration of the arbitration process, but specifically excluding punitive damages (the parties specifically agree that punitive damages shall not be available in the event of any dispute). 
 9. The parties may file an application in any proper court for a provisional remedy in connection with an arbitrable controversy, but only upon the
ground that the award to which the application may be entitled may be rendered ineffectual without provisional relief. 
 10. Except as
expressly provided in the following sentence, neither party may disclose to any person or entity (i) any testimony or evidence presented or submitted in the arbitration proceedings, (ii) the nature or terms of any award or judgment
rendered in such arbitration, or any portion thereof or (iii) the opinion of the arbitrator or arbitration panel, or any portion thereof (collectively, the “Arbitration Information”) . To the extent either party brings an action
pursuant to Section 7(ii) above to enforce or appeal any such judgment or award, then the filing party shall (x) file under seal all documents filed or submitted in such action (including all Arbitration Information) and (y) fully
cooperate with the non-filing party in ensuring that all documents filed or submitted in such action (including all Arbitration Information) shall be kept confidential. 
  

 5 

 11. THE PARTIES ALSO UNDERSTAND AND AGREE THAT THIS AGREEMENT CONSTITUTES A WAIVER OF THEIR RIGHT TO A
TRIAL BY JURY OF ANY CLAIMS OR CONTROVERSIES COVERED BY THIS AGREEMENT. THE PARTIES AGREE THAT NONE OF THOSE CLAIMS OR CONTROVERSIES SHALL BE RESOLVED BY A JURY TRIAL. 
 12. THE PARTIES FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS AGREEMENT WITH THEIR LEGAL COUNSEL AND HAVE AVAILED THEMSELVES OF THAT OPPORTUNITY TO THE EXTENT THEY WISH TO DO SO.

  

			
	Abraxis BioScience, LLC
	
	 /s/    Patrick Soon-Shiong

	By:	 	Patrick Soon-Shiong, M.D.
	Its	 	Chairman and Chief Executive Officer

  

			
	Address for Notices:	  	11755 Wilshire Blvd., 20th Floor
		  	Los Angeles, California 90025

  

			
	 /s/    David D. O’Toole

	David D. O’Toole
		
	Address for Notices:	 	725 Plymouth Rd.
		 	San Marino, CA 91108

  

 6

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