Document:

Amend #1 to Form of Change in Control Executive Severance Agmt

 EXHIBIT 10 (C) 
 CHANGE IN CONTROL EXECUTIVE SEVERANCE AGREEMENT 
 This CHANGE IN CONTROL EXECUTIVE SEVERANCE
AGREEMENT (the “Agreement”) by and between ADVO, Inc. (the “Company”) and [Name of Executive] (the “Executive”), is effective as of [Date of Hire]. 
 RECITALS: 
 A. The Executive is an executive of the Company and has made and is
expected to continue to make major contributions to the short- and long-term profitability, growth, and financial strength of the Company; 
 B. The Company recognizes that the possibility of a Change in Control (as hereafter defined) exists; 
 C. The Company desires to
assure itself of both present and future continuity of its management and desires to establish certain severance benefits for key executive officers of the Company, including the Executive, applicable in the event of a Change in Control; and

 D. The Company wishes to aid in assuring that such executives are not practically disabled from discharging their duties in respect of a
proposed or actual transaction involving a Change in Control. 
 NOW, THEREFORE, the Company and the Executive agree as follows: 

1. Certain Defined Terms: In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement with
initial capital letters: 
 (a) “Affiliate” means (i) each entity in which the Company, alone or together with one or more
other Affiliates of the Company, owns not less than 80% of the then outstanding voting securities or, for any entity that is not a corporation, at least 80% of the then-outstanding capital interests of such entity and (ii) any additional entity
which is deemed by action of the Board to be an Affiliate for the purposes of this Agreement. 
 (b) “Base Pay” means the
Executive’s annual aggregate fixed base salary from the Company at the time in question. 
 (c) “Board” means the Board of
Directors of the Company. 
 (d) “Change in Control” means the occurrence during the Term of any of the following events:

 (i) Any Person (other than the Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company,
or any company owned, directly or indirectly, by the stockholders of the Company immediately prior to the occurrence with respect to which the 

 evaluation is being made in substantially the same proportions as their ownership of the common stock of the Company)
acquires securities of the Company and immediately thereafter is the Beneficial Owner (except that a Person shall be deemed to be the Beneficial Owner of all shares that any such Person has the right to acquire pursuant to any agreement or
arrangement or upon exercise of conversion rights, warrants or options or otherwise, without regard to the sixty day period referred to in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or
more of the combined voting power of the Company’s then outstanding securities (except that an acquisition of securities directly from the Company shall not be deemed an acquisition for purposes of this clause (i)); 
 (ii) During any period of two consecutive years, individuals who at the beginning of such period constitute the Board, and any new director (other than a
director designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (i), (iii) or (iv) of this paragraph) whose election by the Board or nomination for election by the
Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved
by excluding for this purpose any such new director whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms as used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act)
or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, corporation, partnership, group, associate or other entity or person other than the Board, cease for any reason to constitute at least a majority of
the Board; 
 (iii) The consummation of a merger or consolidation of the Company with any other entity, other than (x) a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or resulting
entity) more than 50% of the combined voting power of the surviving or resulting entity outstanding immediately after such merger or consolidation or (y) a merger or consolidation in which no premium is intended to be paid to any shareholder
participating in the merger or consolidation; 
 (iv) The stockholders of the Company approve a plan or agreement for the sale or disposition
of all our substantially all of the consolidated assets of the Company (other than such a sale or disposition immediately after which such assets will be owned directly or indirectly by the stockholders of the Company in substantially the same
proportions as their ownership of the common stock of the Company immediately prior to such sale or disposition) in which case the Board shall determine the effective date of the Change in Control resulting therefrom; or 
 (v) any other event occurs which the Board determines, in its discretion, would materially alter the structure or its ownership. 
  

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 (e) “Cause” means that, prior to any Termination by the Executive for Good Reason, the
Executive shall have: 
 (i) Committed an intentional act of fraud, embezzlement or theft in connection with the Executive’s duties or in
the course of his employment with the Company; 
 (ii) Committed intentional wrongful damage to property of the Company; or 
 (iii) Intentionally and wrongfully disclosed confidential information of the Company; and any such act shall have been materially harmful to the Company.

 For purposes of this Agreement, no act on the part of the Executive shall be deemed “intentional” if it was due primarily to an
error in judgment or negligence, but shall be deemed “intentional” if done by the Executive in the absence of good faith or without reasonable belief that the Executive’s action or omission was in the best interests of the Company.

 (f) “Date of Termination” means the date of receipt of the Notice of Termination or any later date specified therein, as the
case may be; provided, however, that if the Executive is Terminated by the Company other than for Cause or for disability pursuant to Section 2(a)(ii), the Date of Termination will be the date on which the Executive receives the Notice of
Termination from the Company; and provided further, if the Executive is Terminated by reason of death or disability pursuant to Section 2(a)(I) or 2(a)(ii), the Date of Termination will be he last day of the month in which occurs the date of
death or disability effective date, as the case may be. 
 (g) “Employee Benefits” means the prerequisites, benefits and service
credit for benefits as provided under the plans and programs maintained by the company, including, but not limited to, plans and programs which are “employee benefit plans” under Section 3(3) of the Employee Retirement Income Security
Act of 1974, as amended, and any amendment, or successor, to such plans or programs (whether insured, funded or unfunded). 
 (h) “Good
Reason” means the occurrence of any of the events listed in Section 2(b)(i) through 2(b)(vii), inclusive. 
 (i) “Incentive
Pay” means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company. 
 (j) “Notice of Termination” means a written notice which (i) indicates the specific provision in this Agreement relied upon, (ii) sets
forth in reasonable detail the facts and circumstances claimed to provide a basis for the Termination under the provision so indicated, and (iii) if the effective date of the Termination is other than the date of receipt of such notice,
specifies the 
  

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 effective date of Termination (which date will not be more than sixty (60) days after the giving of such notice).
The failure by the Executive to set forth in the Notice of Termination any fact or circumstance which contributes to a showing that the Executive is entitled to the benefits intended to be provided by this Agreement will not constitute a waiver of
any right of the Executive hereunder or otherwise preclude the Executive from later asserting such fact or circumstance in enforcing the Executive’s rights hereunder. 
 (k) “Severance Period” means the period of time commencing on the date of an occurrence of a Change in Control and continuing until the earlier
of (i) the date which is two years following the occurrence of the Change in Control, and (ii) the Executive’s death. 
 (l)
“Subsidiary” means an entity, at least a majority of the total voting power of the then-outstanding voting securities of which is held, directly or indirectly, by the Company and/or one or more other Subsidiaries or, for any entity that is
not a corporation, at least a majority of the then-outstanding capital interests of which is so held. 
 (m) “Term” means
(A) the period commencing on the date hereof and ending on the second anniversary of the date hereof; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (such date and each
annual anniversary thereof shall be hereinafter referred to as the “Renewal Date”, unless previously terminated, the Term shall be automatically extended so as to terminate two years from such Renewal Date, unless at least sixty
(60) days prior to the Renewal Date the company shall give notice to the Executive that the Term shall not be so extended, (B) except as otherwise provided in this Agreement, if, prior to a Change in Control, for any reason the Executive
is Terminated or Terminates, thereupon without further action the Term shall be deemed to have expired and this Agreement will immediately terminate and be of no further effect, and (C) in the event of a Change in Control the Term will, without
further action, be considered to terminate at the expiration of the Severance Period. 
 (n) “Terminate” and correlative terms mean
the termination of the Executive’s employment with the Company and any Affiliate or Subsidiary. 
 2. Termination in
Connection With a Change in Control:  
 (a) If, during the Severance Period, the Executive is Terminated, the Executive will be entitled
to the benefits provided by Sections 3 and 4 unless such termination is by reason of one or more of the following events: 
 (i) The
Executive’s death; 
 (ii) The permanent and total disability of the Executive as defined in any long term disability plan of the
Company, applicable to the Executive, as in effect immediately prior to the Change in Control; 
  

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 (iii) Cause; or 
 (iv) The Executive’s voluntary Termination in circumstances in which Good Reason does not exist. 
 (b)
In the event of the occurrence of a Change in Control, the Executive may Terminate during the Severance Period with the right to severance compensation as provided in Sections 3 and 4 upon the occurrence of one or more of the following events
(regardless of whether any other reason, other than Cause as herein above provided, for Termination exists or has occurred, including without limitation other employment): 
 (i) An adverse change in the nature or scope of the authorities, powers, functions, responsibilities, or duties attached to the position with the Company, which the Executive held immediately prior to the Change in
Control; 
 (ii) A reduction in the Executive’s Base Pay as in effect immediately prior to any Change in Control, or as it may have been
increased from time to time thereafter; 
 (iii) Any failure by the Company to continue in effect any plan or arrangement providing Incentive
Pay in which the Executive is participating at the time of a Change in Control (or any other plans or arrangements providing substantially similar benefits) or the taking of any action by the company, any Affiliate or Subsidiary which would
adversely affect the Executive’s participation in any such plan or arrangement or reduce the Executive’s benefits under any such plan or arrangement in a manner inconsistent with the practices of the company prior to the Change in Control;

 (iv) Any failure by the Company to continue in effect any Employee Benefits in which the Executive is participating at the time of a
Change in Control (or any other plans or arrangements providing the Executive with substantially similar benefits) or the taking of any action by the Company, an Affiliate or Subsidiary which would adversely affect the Executive’s participation
in or materially reduce the Executive’s benefits under any Employee Benefits or deprive the Executive of any material fringe benefit enjoyed by the Executive at the time of a Change in Control; 
 (v) The liquidation, dissolution, merger, consolidation, or reorganization of the Company or transfer of all or substantially all of its business and/or
assets, unless the successor or successors (by liquidation, merger, consolidation, reorganization, transfer, or otherwise) to which all or a significant portion of its business and/or assets have been transferred (directly or by operation of law)
assumed all duties and obligations of the Company under this Agreement pursuant to Section 9; 
  

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 (vi) Without limiting the generality or effect of the foregoing, any material breach of this Agreement by
the Company or any successor thereto; or 
 (vii) Any action by the Company which causes the Executive’s services to be performed at a
location which is more than thirty five (35) miles from the location where the Executive was employed immediately preceding the date of the Change in Control. 
 (c) Anything in this Agreement to the contrary notwithstanding, if the Executive’s employment with the Company is Terminated prior to the date on which a Change in Control occurs either (i) by the Company
other than for Cause or (ii) by the Executive for Good Reason, and it is reasonably demonstrated that termination of employment (a) was at the request of an unrelated third party who has taken steps reasonably calculated to effect a Change
in Control, or (b) otherwise arose in connection with or in anticipation of the Change in Control, then for all purposes of this Agreement the termination shall be deemed to have occurred upon a Change in Control and the Executive will be
entitled to severance compensation as provided in Sections 3 and 4 hereof. 
 (d) Any Termination will be communicated by Notice of
Termination hereto given in accordance with Section 10 of this Agreement. 
 3. Severance Compensation: (a) If the Executive is Terminated
by the Company in connection with a Change in Control as set forth in Section 2 during the Severance Period, other than in the circumstances set forth in Section 2(a)(i), 2(a)(ii) or 2(a)(iii), or if the Executive Terminates for Good
Reason: 
 (i) The Company will pay to the Executive in a lump sum in cash within five (5) business days after the later of the date on
which the Company receives the determination of the Accounting Firm required in Section 4 hereof or the Date of Termination the aggregate of the amount (the “Severance Payment”) equal to two times the sum of (A) the
Executive’s Base Pay at the highest rate in effect at any time within the 90-day period preceding the date the Notice of Termination was given or, if higher, at the highest rate in effect at any time within the 90-day period preceding the date
of the first occurrence of a Change in Control, and (B) an amount equal to the greatest amount of Incentive Pay received by the Executive during any calendar year or portion thereof from and including the third calendar year prior to the first
occurrence of a Change in Control; and 
 (ii) For the period of two years from the Date of Termination, the Executive shall be eligible for
participation in and shall receive all benefits under such benefit plans, practices, policies and programs of the Company that provide medical, prescription dental, or life insurance coverage, with the costs of such participation to be paid by the
Company to the same extent as prior to the Executive’s Termination. In the event that such continued participation is not allowed under the terms and provisions of such plans or programs, then in lieu thereof, the Company shall acquire
individual insurance policies providing comparable coverage for the Executive; provided that if any such individual coverage is unavailable, 
  

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 the Company shall pay to the Executive an amount equal to the contributions that would have been made by the Company for
such coverage on the Executive’s behalf if the Executive had remained in the employ of the Company for the period referred to in the preceding sentence. 
 (iii) Notwithstanding anything to the contrary contained in this Agreement, if any payments to be made pursuant to this Agreement are subject to Section 409A of the Internal Revenue Code, such payments shall be
made in accordance with the provisions of such Section 409A, including without limitation that the first payment of severance shall be made on a date that is six months after the date of termination and such payment shall include all amounts of
severance earned but not paid from the date of termination through the date of such first payment. 
 (b) There will be no right of set-off
or counterclaim in respect of any claim, debt, or obligation against any payment to or benefit for the Executive provided for in this Agreement. 
 (c) Without limiting the rights of the Executive at law or in equity, if the Company fails to make any payment or provide any benefit required to be made or provided under this Agreement (including under this Section 3 or
Section 6) on a timely basis, the Company will pay interest on the amount or value thereof at an annualized rate of interest equal to the so-called composite “prime rate” as quoted from time to time during the relevant period in the
Northeast Edition of The Wall Street Journal. Such interest will be payable as it accrues on demand. Any change in such prime rate will be effective on and as of the date of such change. 
 (d) Notwithstanding any other provision hereof, the parties, respective rights and obligations under this Section 3 and under Sections 4 and 6 will
survive any termination or expiration of this Agreement following a Change in Control or any Termination following a Change in Control for any reason whatsoever. 
 4. Excise and Other Taxes. The Executive shall bear all expense of, and be solely responsible for, all federal, state, local or foreign taxes due with respect to any payment received hereunder, including, without limitation, any
excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the Code); provided, however, that all payments under this Agreement shall be reduced to the extent necessary so that no portion thereof shall be subject to
the excise tax imposed by Section 4999 of the Code but only if, by reason of such reduction, the net after-tax benefit received by the Executive shall exceed the net after-tax benefit received by the Executive if no such reduction was made. For
purposes of this Section 4, “net after-tax benefit” shall mean (I) the total of all payments and the value of all benefits which the Executive receives or is then entitled to receive from the Company that would constitute
“parachute payments” within the meaning of Section 280G of the Code, less (ii) the amount of all federal, state and local income taxes payable with respect to the foregoing calculated at the maximum marginal income tax rate for
each year in which the foregoing shall be paid to the Executive (based on the rate in effect for such year as set forth in the Code as in effect at the time of the first payment of the 
  

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 foregoing), less (iii) the amount of excise taxes imposed with respect to the payments and benefits described in
(I) above by Section 4999 of the Code. The foregoing determination will be made by a nationally recognized accounting firm (the “Accounting Firm”) selected by the Executive and reasonably acceptable to the Company-(which may be, but will not be required to be, the Company’s independent auditors). The Executive will direct the
Accounting Firm to submit its determination and detailed supporting calculations to both the Company and the Executive within fifteen (15) days after the Date of Termination. If the Accounting Firm determines that such reduction is required by
this Section 4, the Company shall pay such reduced amount to the Executive in accordance with Section 3(a). If the Accounting Firm determines that no reduction is necessary under this Section 4, it will, at the same time as it makes
such determination, furnish the Company and the Executive an opinion that the Executive will not be liable for any excise tax under Section 4999 of the Code. The Company and the Executive will each provide the Accounting Firm access to and
copies of any books, records, and documents in the possession of the Company or the Executive, as the case may be, reasonably requested by the Accounting Firm, and otherwise cooperate with the Accounting Firm in connection with the preparation and
issuance of the determinations and calculations contemplated by this Section 4. The fees and expenses of the Accounting Firm for its services in connection with the determinations and calculations contemplated by this Section 4 will be
borne by the Company. 
 5. No Mitigation Obligation: The Company hereby acknowledges that it will be difficult, and may be impossible, for the
Executive to find reasonably comparable employment following the Date of Termination. The payment of the severance compensation by the Company to the Executive in accordance with the terms of this Agreement will be liquidated damages, and the
Executive will not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will any profits, income, earnings, or other benefits from any source whatsoever create any mitigation,
offset, reduction, or any other obligation on the part of the Executive hereunder or otherwise. 
 6. Legal Fees and Expenses: If the Company has
failed to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other
action or proceeding designed to deny, or to recover from, the Executive the benefits provided or intended to be provided to the Executive hereunder, the Company irrevocably authorizes the Executive from time to time to retain counsel of the
Executive’s choice, at the expense of the Company, to advise and represent the Executive in connection with any such interpretation, enforcement, or defense, including without limitation the initiation or defense of any litigation or other
legal action, whether by or against the Company or any member of the Board, officer, stockholder, or other person or entity affiliated with the Company, in any jurisdiction. The Company will pay and be solely financially responsible for any and all
attorneys’ and related fees and expenses incurred by the Executive in connection with such litigation. 
 7.
Employment Rights: Nothing expressed or implied in this Agreement will 
  

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 create any right or duty on the part of the Company or the Executive to have the Executive remain in the employment of
the Company, or any Affiliate or Subsidiary prior to or following any Change in Control. 
 8. Withholding of Taxes: The Company may withhold from any
amounts payable under this Agreement all federal, state, city, or other taxes as the Company is required to withhold pursuant to any law or government regulation or ruling. 
 9. Successors and Binding Agreement: (a) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization, or otherwise) to all or substantially all of
the business and/or assets of the Company, by agreement in form and substance satisfactory to the Executive, expressly to assume and agree to perform this agreement in the same manner and to the same extent the Company would be required to perform
if no such succession had taken place. This Agreement will be binding upon and inure to the benefit of the Company and any successor to the Company, including, without limitation, any persons acquiring directly or indirectly all or substantially all
of the business and/or assets of the Company, whether by purchase, merger, consolidation, reorganization, or otherwise (and such successor will thereafter be deemed the “Company” for the purposes of this Agreement), but will not otherwise
be assignable, transferable, or delegable by the Company. 
 (b) This Agreement will inure to the benefit of and be enforceable by the
Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, and/or legatees. 
 (c) This
Agreement is personal in nature and neither of the parties hereto will, without the consent of the other, assign, transfer, or delegate this Agreement or any rights or obligations hereunder except as expressly provided in Sections 9(a) and 9(b).
Without limiting the generality or effect of the foregoing, the Executive’s right to receive payments hereunder will not be assignable, transferable, or delegable, whether by pledge, creation of a security interest, or otherwise, other than by
a transfer by will or by the laws of descent and distribution and, in the event of any attempted assignment or transfer contrary to this Section 9(c), the Company will have no liability to pay any amount so attempted to be assigned,
transferred, or delegated. 
 10. Notices: For all purposes of this Agreement, all communications, including, without limitation, notices, consents,
requests, or approvals, required or permitted to be given hereunder will be in writing and will be deemed to have been duly given when hand delivered or dispatched by electronic facsimile transmission (with receipt thereof orally confirmed), or two
business days after having been mailed by United States registered or certified mail, return receipt requested, postage prepaid, or one business day after having been sent by a nationally recognized overnight courier service, addressed to the
Company (to the attention of the General Counsel of the Company) at its principal executive office and to the Executive at the Executive’s principal residence, or to such other address as any party may have furnished to the other in writing and
in accordance herewith, except that notices of changes of address will be effective only upon receipt. 
  

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 11. Governing Law: The validity, interpretation, construction, and performance of this Agreement will be governed
by and construed in accordance with the substantive laws of the State of Connecticut, without giving effect to the principles of conflict of laws of such State, to the extent not preempted by applicable federal law. 
 12. Validity: If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable, or
otherwise illegal, the remainder of this Agreement and the application of such provision to any other person or circumstances will not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal will be reformed to the
extend (and only to the extent) necessary to make it enforceable, valid, or legal. 
 13. Non-Exclusivity of Rights: Nothing in this Agreement will
prevent or limit the Executive’s present or future participation in any benefit, bonus, incentive, or other plan or program provided by the Company or any Affiliate or Subsidiary for which the Executive may qualify, nor will this Agreement in
any manner limit or otherwise affect such rights as the Executive may have under any stock option or other agreements with the Company or any Affiliate or Subsidiary. Amounts or benefits which are vested or which the Executive is otherwise entitled
to receive under any plan or program of the Company at or subsequent to the Date of Termination will be payable in accordance with such plan or program, except as otherwise expressly provided in this Agreement; provided, however, that any amounts
received by the Executive pursuant to this Agreement shall be in lieu of any benefits which the Executive is entitled to receive or may become entitled to receive under any reduction-in-force or severance pay plan or practice which the Company now
has in effect or may hereafter put into effect, any other benefits to which the Executive may be entitled under any individual agreement of employment with the Company which would provide a benefit to the Executive upon the occurrence of a Change in
Control of the Company, and any severance benefits required under federal or state law to be paid to the Executive. 
 14. Miscellaneous: (a) No
provision of this Agreement may be modified, waived, or discharged unless such waiver, modification, or discharge is agreed to in writing signed by the Executive and the Company. No waiver by either party hereto at any time of any breach by the
other party hereto or compliance with any condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No
agreements or representations, oral or otherwise, express or implied with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. References to Sections are to references to Sections
of this Agreement. 
 (b) The Executive and the Company acknowledge that this Agreement supersedes any other agreement between them
concerning the subject matter hereof. 
  

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 IN WITNESS WHEREOF, the parties have executed and entered into this Agreement as of the date first
written above. 
  

			
	ADVO, INC.
		
	By:	 	 /s/ DONALD S. SCHNEIDER

		 	Donald S. Schneider
		 	EVP, CHRO
		
		 	  
 [Executive’s Name]

		 	[Title]

  

 - 11 -Employment Agreement between the Registrant and Carlo Montagner

 Exhibit 10.12 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
30th December, 2005 between AMERICAN BIOSCIENCE, INC., a California corporation (the “Company”) and Carlo
A. Montagner (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 a date mutually agreed to by
Executive and Company until the Termination Date. The date you obtain a work visa and begin your employment with Company shall be referred to as the “Effective Date.” 

  

	 	(b)	During the Executive’s employment under this Agreement, the Executive shall render services to the Company in the position of President of American BioScience, Inc., and
Abraxis Oncology. The Executive shall also be appointed as a member of the Board of American BioScience, Inc., as promptly as practicable following the Company’s annual stockholder meeting. In your role as President you will be responsible for
developing primary goals, operating plans, policies, short and long range objectives for the Company and implementing these following Board of Directors’ approval. In addition, you will direct and coordinate activities to achieve profit and
return on capital, establish organizational structure and delegate authority to subordinates. You will be required to lead the Company towards objectives, meet with and advise other executives and review results of business operations. The Executive
shall perform such other duties and responsibilities as are normally related to his position as President as hereafter assigned to Executive by the Board. 

  

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

  

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	 	(d)	The Executive will devote his entire business time, energy, attention and skill to the services of the Company 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; 

  

	 	(ii)	render or perform services of a business, professional, or commercial nature other than to or for the Company, 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; 

 provided, that it shall not be a violation of this Agreement for the Executive to
(i) serve on civic or charitable boards or committees, (ii) deliver lectures or fulfill speaking engagements, (iii) manage personal investments and (iv) perform such other activities as the Board may approve, so long as such
activities do not interfere materially with the performance of the Executive’s responsibilities as the President of the Company. 
  

	 	(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 be at the principal executive office of the Company (currently located in Los Angeles,
California); provided that at the reasonable direction of the Board or the Chairman of the Board, the Executive may, from tine 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 Six Hundred
Seventy-Five Thousand Dollars ($675,000) 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 Compensation Committee. 

  

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	 	(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. 

  

	 	(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. 

  

	 	(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) 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 under this Agreement 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 otherwise expressly provided in subsections (f) and (g) below). The Executive acknowledges and agrees that the Board may, in its discretion, terminate at any time or
modify from time to time any such benefit plans. 

  

	 	(f)	After the shares of common stock of the Company (or, if applicable a successor of the Company) have become publicly traded on an established securities market the Company will
provide the Executive with an option to purchase 50,000 shares of the Company common stock, which option (a) shall have an exercise price equal to the trading price of the Company common stock at the grant date, (b) shall vest in equal
installments of 12,500 over a four year period, (c) shall be evidenced by the Company’s standard form of stock option agreement for its officers and shall otherwise be subject to the terms and conditions of the Company’s stock
incentive plan. 

  

	 	(g)	In addition to the grant described in subsection (f) above, commencing in 2007 (for stock option awards determined by the Board with respect to the 2006 fiscal year), the
Executive shall be entitled to receive annual grants of stock options (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 Company’s Compensation Committee. 

  

	 	(h)	The Executive shall be entitled 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 Company’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 

  

 3 

	 	 	at the same time as bonuses for other executive officers. The Executive acknowledges that his target bonus for the first full year of employment will be fifty percent (50%) of
his Base Salary. 

  

	 	(i)	Within thirty (30) days of the Effective Date the Company shall pay the Executive a one time sign on bonus of $275,000 in cash. 

  

	 	(j)	The Company will pay the Executive $400,000 in cash or stock, determined in the Company’s discretion, in installments as described herein. On each annual anniversary of the
Effective Date through and including the fourth (4th) anniversary of the Effective Date, the Company shall pay
the Executive $100,000 in cash or stock, determined in the Company’s discretion. In order to receive an installment, the Executive must have remained continuously employed by the Company from the Effective Date through the date of that
installment and the Executive will automatically forfeit all unpaid installments if the Executive’s employment terminates for any reason. 

  

	 	(k)	To assist the Executive and his family with relocating to Los Angeles, California, the Company will pay all reasonable relocation costs including, but not limited to moving,
packing, temporary housing, and broker’s fees, real estate transfer taxes, and other costs associated with the sale of your home or the purchase of a new home; provided, however, you must incur such costs on or before the first anniversary of
the Effective date and you must provide the Company with reasonable documentation supporting the relocation costs incurred by you. All relocation reimbursement will be provided to Executive on a basis on which Executive suffers no tax disadvantage.
If the Executive voluntarily terminates his employment with the Company pursuant to Section 6(e) on or before two (2) years from the Effective Date the Executive will repay the Company within thirty (30) days of his Termination Date
all relocation costs paid by Company pursuant to this subsection (k). 

  

	 	(1)	The Company will provide the Executive with legal assistance for your work visa application and not more than two business class flights back to Australia for your family if
necessary for such visa application. 

  

	 	(m)	The Company will loan the Executive, subject to all applicable rules, regulations or laws up to $3,000,000 to purchase a principal family residence in the Los Angeles area. Such a
loan would be for a term of three (3) years (the “Initial Term”), would be recourse and secured by a first mortgage on the residence, would bear interest at the “applicable federal rate” under the Internal Revenue
Code for such a loan, and would be due and payable upon the termination of your employment by you or the Company (or its successor) for any reason other than an involuntary termination by the Company without “Cause,” in which case the loan
would be due and payable upon the earlier of (i) eighteen months (18) after your Termination Date, (ii) the sale or other disposition of the residence, or (ii) the time remaining on the Initial Term. 

  

 4 

	 	(n)	Other than as expressly set forth in this Section 4, the Executive shall not receive any other compensation or benefits 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. 

  

	 	(e)	The Executive may voluntarily terminate his employment under this Agreement by giving the Board 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. 

  

	 	7.	Consequences of Termination. 

  

	 	(a)	If the employment of the Executive under this Agreement is terminated pursuant to Section 6(d) (Termination Without Cause) 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; 

  

	 	(ii)	 The Company shall pay the Executive, for the duration of the Severance Period, severance payments at an annual rate (pro rated over the Severance Period) equal to
(i) the Base Amount plus (ii) the Bonus Amount, which amount will be payable in arrears in monthly installments. Such monthly installments will be delayed to the minimum extent necessary to meet the requirements of Internal Revenue Code
Section 409A, as amplified by any applicable Internal Revenue Service or U.S. 

  

 5 

	 	 
Treasury Department guidance. The Company and the Executive shall reasonably cooperate with each other to avoid the imposition of any additional taxes,
interest and/or penalty to the executive under Internal Revenue Code Section 409A; 

  

	 	(iii)	The vesting of the stock options granted to the Executive under subsection 4(f) above shall accelerate so that such options 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 (a) unless, within 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. 
  

	 	(b)	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 and shall be promptly returned to the Company upon termination of the Executive’s employment. 

 

	 	(c)	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 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 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)	In the event that Executive receives severance payments pursuant to Section 7(a), the Executive agrees that for a period of two years following the Termination Date, the
Executive will not, directly or indirectly, engage in any business activity that is or may reasonably be found to be in competition with the business of the Company and its subsidiaries 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. 

  

 6 

	 	(b)	The Executive further agrees that for a period of two years following the Termination Date the Executive will not: 

  

	 	(i)	Solicit, raid, entice or induce any employee of the Company to be employed by any competitor of the Company (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); 

  

	 	(ii)	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 

  

	 	(iii)	Assist a competitor in taking such action. 

  

	 	(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(a) so long as such failure, if reasonably capable of being cured, is not cured by the Executive within 30 days following a written notice
from the Company of such failure to perform. 

  

	 	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 under this Agreement. 

  

	 	(b)	The Executive hereby agrees to indemnify and hold harmless the Company, its 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. The Company hereby agrees to indemnify and hold harmless the Executive
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 Company 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 any of its 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 on Exhibit C hereto relating to the arbitration of disputes hereunder
(subject to Section 11). 

  

 7 

	 	11.	Equitable Relief. Notwithstanding Section, 10 above, the Executive acknowledges that the Company is 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 from any violation or continuing violation of the provisions
of Section 8(b) for which damages may not be an adequate remedy. Accordingly, the Executive hereby agrees that in addition to the remedies available to the Company by law or under this Agreement, the Company 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(b).

  

	 	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)	In the event the Company shall merge or consolidate with any other corporation, partnership or business entity, or all or substantially all of the Company’s business or assets
shall be transferred in any manner to any other corporation, partnership or business entity, then such successor to the Company shall thereupon succeed to, and be subject to, all rights, interests, duties and obligations of, and shall thereafter be
deemed for all purposes hereof to be, the “Company” under this Agreement. 

  

	 	(b)	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. 

  

	 	(c)	Except as set forth in subsection (a) above, 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. 

  

	 	15.	 Amendments; Waivers. 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 

  

 8 

	 	 
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. 

  

	 	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, 8, 9, 10, 11 and 19 of this Agreement shall survive the expiration or termination of this
Agreement (irrespective of the reason for such expiration or termination). 

  

	 	19.	Attorneys’ Fees. If any party to this Agreement seeks to enforce his or its rights under this Agreement, 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. 

  

 9 

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

			
	 AMERICAN BIOSCIENCE, INC.

	
	/s/ Patrick Soon-Shiong
	 By: Patrick Soon-Shiong, M. D.
 Its Chairman

		
	Address for Notices:	 	 2730 Wilshire Blvd., Suite 500
 Santa Monica,
California 90403

	
	/s/ Carlo A. Montagner
	 Carlo A. Montagner

	 Address for Notices:
	 	14 School Ave.
		 	Chatham, New Jersey 07928

  

 10 

 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 rate in effect on the Termination Date. 
 “Board” means the Board of Directors of the Company. 
 “Bonus Amount” shall mean (i) 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 2007, an amount equal
to the average of the last two annual incentive payments paid or payable to the Executive prior to the Termination Date, (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 2006 (but prior to the payment with respect to 2007), an amount equal to such payment. 
 “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 the 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. 
 “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. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 
 “Pro-Rata Bonus” means an amount equal to the Bonus Amount multiplied by a
fraction the numerator of which is the number of days in the fiscal, year through the Termination Date and the denominator of which is 365. 
  

 1 

 “Severance Period” shall mean, for the purposes of Section 7(a), the period commencing on the
Termination Date and ending on the second 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 American 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 Transition Agreement, if any, to benefits available after
termination under 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 Patrick Soon-Shiong, M.D. or his designee, or mailed to American BioScience, Inc., 2730 Wilshire Blvd., Suite 500, Santa Monica, California
90403 and postmarked within seven (7) calendar days of the date of execution of this Release. None of the terms anal 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, California, 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 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 30 days after the
commencement of the arbitration proceeding, then one arbitrator shall be appointed by each of Protected Officer and the Company within 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 arbitrators shall fail to agree within 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 this Section 16, 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 this Section 16 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
determinations) 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. 

  

 5

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