Document:

EX-10.2

 Exhibit 10.2 

Execution Version 

AMENDMENT NO. 2 
 This
AMENDMENT NO. 2, dated as of June 5, 2020 (this “Amendment”), amends the Credit Agreement, dated as of November 28, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time
prior to the date hereof, the “Credit Agreement”), by and among CONSOL COAL RESOURCES LP (the “Borrower”), the guarantors party thereto, the lenders party thereto, CONSOL ENERGY INC., as administrative agent for the
Lenders (the “Administrative Agent”) and PNC BANK, NATIONAL ASSOCIATION, as collateral agent for Secured Parties (the “Collateral Agent” and, together with the Administrative Agent, the “Agents”).
Capitalized terms used but not defined herein shall have the meanings given them in the Credit Agreement as amended by this Amendment (the “Amended Credit Agreement”). 

WITNESSETH 
 WHEREAS, the
Borrower desires to amend the Credit Agreement on the terms set forth herein; and 
 WHEREAS, the contemplated amendments require the
consents of the Required Lenders under the Credit Agreement and the Required Lenders (as defined in the CEI Credit Agreement). 

NOW, THEREFORE, the parties hereto, in consideration of the mutual covenants and agreements herein contained and intending to be
legally bound hereby, covenant and agree as follows: 
 1. Amendments to the Credit Agreement. Effective as of the Amendment
No. 2 Effective Date, the Credit Agreement is hereby amended to be as set forth below (references to Sections are to Sections of the Credit Agreement): 

(a) Section 1.1 is hereby amended to add the following definitions in alphabetical order therein: 

“Amendment No. 2 Effective Date” shall mean June 5, 2020. 

“Capital Expenditures” shall mean for any period, with respect to any Person, the aggregate of all
expenditures by such Person for the acquisition or leasing (in the case of leasing, pursuant to a capital lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements during such period)
which are required to be capitalized under GAAP on a consolidated balance sheet of such Person. 
 “Consolidated
Fixed Charges” shall mean, for any period, calculated on a consolidated basis for the Borrower and the Restricted Subsidiaries, the sum of (a) Consolidated Cash Interest Expense for such period, (b) the amount of cash payments
made (net of cash refunds received) during such period by the Borrower and the Restricted Subsidiaries in respect of Taxes based on income or profits (including state franchise taxes accounted for as income taxes in accordance with GAAP) during such
period, (c) the aggregate amount of scheduled repayments of principal during such period in respect of any Consolidated Indebtedness, (d) dividends and distributions paid in cash during such period by the Borrower and the Restricted
Subsidiaries on a consolidated basis and (e) Maintenance Capital Expenditures for such period. 
 “Electronic
Signature” shall have the meaning assigned thereto in Section 11.10 [Counterparts; Integration; Effectiveness]. 
  

 “Fixed Charge Coverage Ratio” shall mean, on any date of
determination, the ratio of (1) Consolidated EBITDA of the Borrower and the Restricted Subsidiaries for the period of four fiscal quarters of the Borrower most recently ended on or prior to the date of determination for which financial
statements are available to (2) Consolidated Fixed Charges for such period. 
 “Maintenance Capital
Expenditures” shall mean, for any period, the portion of the Borrower’s and the Restricted Subsidiaries’ Capital Expenditures required to maintain the operating capacity of the Borrower’s and the Restricted Subsidiaries’
capital assets for such period as determined in good faith by the Borrower, specifically excluding the Capital Expenditures for the refuse disposal expansion project for areas 7 and 8 located at the Pennsylvania Mining Complex preparation plant;
provided that the Borrower shall provide to the Agents and the CEI Agents a brief written explanation of such determination no less than five (5) Business Days prior to the earlier of each time that the Borrower delivers or is required
to deliver financial statements pursuant to Sections 8.3.1 [Quarterly Financial Statements] and 8.3.2 [Annual Financial Statements] (or such shorter period as the Agents and the CEI Agents shall agree in their sole discretion), and the Agents and
the CEI Agents shall have the right to approve (such approval not to be unreasonably withheld) such determination; provided further that if the Agents and the CEI Agents shall not have responded to the Borrower with respect to such
explanation within two (2) Business Days after the Borrower delivers it, then such approval will not be deemed to be required. 

“Specified Conditions” shall mean with respect to any transaction, at the time of and after giving effect to
such transaction on a Pro Forma Basis, (x) the First Lien Gross Leverage Ratio at such time shall not be greater than 2.00 to 1.00, and (y) the Fixed Charge Coverage Ratio shall be not less than 1.00 to 1.00. 

(b) Section 8.2.4 is hereby amended by adding the following to the end of the proviso immediately following clause (r) thereof and
immediately before the period: 
 “; provided further that, with respect to Investments made on or after
the Amendment No. 2 Effective Date pursuant to clause (h) or (k), after giving effect to any such Investment, the Specified Conditions shall be satisfied and the Borrower shall deliver to the Agents and the CEI Agents on or prior to the
date of the making of any such Investment an Officer’s Certificate certifying compliance with the requirements of this proviso and setting forth calculations in reasonable detail showing such compliance”. 

(c) Section 8.2.5(b) is hereby amended by adding the following at the end thereof: 

“provided that, on or after the Amendment No. 2 Effective Date, after giving effect to such distribution and
any borrowings in connection therewith, the Specified Conditions shall be satisfied and the Borrower shall deliver to the Agents and the CEI Agents on or prior to the date of the making of any such Restricted Payment an Officer’s Certificate
certifying compliance with the requirements of this clause (b) and setting forth calculations in reasonable detail showing such compliance;”. 

(d) (i) Section 8.2.5(i) is hereby deleted in its entirety, (ii) Section 8.2.5(h) is hereby amended by deleting the “;
and” at the end thereof and replacing it with a period and (iii) Section 8.2.5(g) is hereby amended by adding “and” at the end thereof. 

(e) Section 8.2.13(a) is hereby amended and restated in its entirety as follows: 

  
 -2- 

 (a) Maximum First Lien Gross Leverage Ratio. Commencing with the
fiscal quarter ending December 31, 2017, the Borrower shall not permit the First Lien Gross Leverage Ratio, calculated as of the last day of each fiscal quarter of the Borrower, to be greater than the First Lien Gross Leverage Ratio set forth
opposite such day in the table below. 
  

			
	 Quarter Ended
	  	Maximum First Lien Gross Leverage Ratio
	 December 31, 2017
	  	2.75x
	 March 31, 2018
	  	2.75x
	 June 30, 2018
	  	2.75x
	 September 30, 2018
	  	2.75x
	 December 31, 2018
	  	2.75x
	 March 31, 2019
	  	2.75x
	 June 30, 2019
	  	2.75x
	 September 30, 2019
	  	2.75x
	 December 31, 2019
	  	2.75x
	 March 31, 2020
	  	2.75x
	 June 30, 2020
	  	3.75x
	 September 30, 2020
	  	3.75x
	 December 31, 2020
	  	3.75x
	 March 31, 2021
	  	3.75x
	 June 30, 2021
	  	3.50x
	 September 30, 2021
	  	3.50x
	 December 31, 2021
	  	3.00x
	 March 31, 2022
	  	3.00x
	 June 30, 2022 and thereafter
	  	2.75x

 (f) Section 8.2.13(b) is hereby amended and restated in its entirety as follows: 

(b) Maximum Total Net Leverage Ratio. Commencing with the fiscal quarter ending December 31, 2017, the Borrower
shall not permit the Total Net Leverage Ratio, calculated as of the last day of each fiscal quarter of the Borrower, to be greater than the Total Net Leverage Ratio set forth opposite such day in the table below. 

 

					
	 Quarter Ended
	  	Maximum Total Net Leverage Ratio	 
	 December 31, 2017
	  	 	3.25x	 
	 March 31, 2018
	  	 	3.25x	 
	 June 30, 2018
	  	 	3.25x	 
	 September 30, 2018
	  	 	3.25x	 
	 December 31, 2018
	  	 	3.25x	 
	 March 31, 2019
	  	 	3.25x	 
	 June 30, 2019
	  	 	3.25x	 
	 September 30, 2019
	  	 	3.25x	 

  
 -3- 

					
	 Quarter Ended
	  	Maximum Total Net Leverage Ratio	 
	 December 31, 2019
	  	 	3.25x	 
	 March 31, 2020
	  	 	3.25x	 
	 June 30, 2020
	  	 	4.00x	 
	 September 30, 2020
	  	 	4.00x	 
	 December 31, 2020
	  	 	4.00x	 
	 March 31, 2021
	  	 	4.00x	 
	 June 30, 2021
	  	 	3.75x	 
	 September 30, 2021
	  	 	3.75x	 
	 December 31, 2021
	  	 	3.50x	 
	 March 31, 2022
	  	 	3.50x	 
	 June 30, 2022 and thereafter
	  	 	3.25x	 

 (g) Section 11.10 is hereby amended by replacing the second paragraph thereof with the following: 

“The words “execution,” “signed,” “signature,” “delivery,” and words of like
import in or relating to any document to be signed in connection with this Agreement, any Assignment and Assumption Agreement or any other Loan Document and the transactions contemplated hereby or thereby shall be deemed to include an electronic
symbol or process attached to a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (each an “Electronic Signature”), deliveries or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or any other similar state laws based on the Uniform Electronic
Transactions Act; provided that nothing in any Loan Document shall require any Agent or any CEI Agent to accept Electronic Signatures in any form or format without its prior written consent. Without limiting the generality of the foregoing,
each Loan Party (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among any Agent, any CEI Agent, the Lenders and the
Loan Parties, electronic images of this Agreement or any other Loan Documents (in each case, including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any paper original, and
(ii) waives any argument, defense or right to contest the validity or enforceability of the Loan Documents based solely on the lack of paper original copies of any Loan Documents, including with respect to any signature pages thereto.”

 (h) Schedule 1.1(A) to the Credit Agreement is hereby amended and restated in its entirety by Schedule 1.1(a) attached hereto: 

2. Conditions Precedent. This Amendment shall be effective upon satisfaction of each of the following conditions (the date of such
effectiveness, the “Amendment No. 2 Effective Date”): 

  
 -4- 

 (a) Execution and Delivery of Amendment. The Borrower, the
Guarantors, the Required Lenders, the Administrative Agent and the Collateral Agent shall have executed and delivered this Amendment. 

(b) Consent Under CEI Credit Agreement. The Collateral Agent shall have received an executed copy of the consent under
the CEI Credit Agreement to this Amendment, and such Amendment shall have become effective. 
 (c)
Officer’s Certificate. (i) The representations and warranties of each of the Loan Parties contained in the Loan Documents shall be true and correct in all material respects on and as of the Amendment No. 2
Effective Date with the same effect as though such representations and warranties had been made on and as of such date (except (x) that any representation and warranty that is already qualified as to materiality shall be true and correct in all
respects as so qualified and (y) for representations and warranties which relate solely to an earlier date or time, which representations and warranties shall be true and correct on and as of the specific dates or times referred to therein);
(ii) no Event of Default or Potential Default shall have occurred and be continuing; (iii) since December 31, 2018, there shall not have occurred any event or condition that has had or could be reasonably expected, either individually or
in the aggregate, to constitute a Material Adverse Change; and (iv) the Borrower shall have delivered to the Agents for the benefit of each Lender a certificate of the Borrower, dated the Amendment No. 2 Effective Date and signed by a
Responsible Officer or Authorized Officer of the Borrower, to each effect in clauses (i) through (iii). 
 (d)
Secretary’s Certificates. The Agents shall have received: 
 (i) a certificate dated the Amendment No. 2
Effective Date and signed by an Authorized Officer of the Borrower, certifying (A) that attached thereto is a true and complete copy of resolutions duly adopted by the managing general partner of the Borrower authorizing the execution, delivery
and performance of this Amendment and the other Loan Documents to be executed and delivered in connection herewith, and that such resolutions have not been modified, rescinded or amended and are in full force and effect on the Amendment No. 2
Effective Date; (B) the names of the officer or officers authorized to sign this Amendment and the other Loan Documents to be executed and delivered in connection herewith and the true signatures of such officer or officers and specifying the
Authorized Officers permitted to act on behalf of the Borrower for purposes of this Amendment and such other Loan Documents and the true signatures of such officers, on which each Agent and each Lender may conclusively rely; and (C) copies of
its certificate of limited partnership (recently certified by the Secretary of State of the State of Delaware) and limited partnership agreement as in effect on the Amendment No. 2 Effective Date, together with recently dated certificates from
the Secretary of State of the State of Delaware as to the continued existence and good standing of the Borrower; and 
 (ii)
a certificate dated the Amendment No. 2 Effective Date and signed by an Authorized Officer of each of the Loan Parties (other than the Borrower), certifying (A) that attached thereto is a true and complete copy of resolutions duly adopted
by the Board of Directors of such Loan Party (or its managing general partner, managing member or equivalent) authorizing the execution, delivery and performance of this Amendment and the other Loan Documents to be executed and delivered in
connection herewith, and that such resolutions have not been modified, rescinded or amended and are in full force and effect on the Amendment No. 2 Effective Date; (B) the names of the officer or officers

  
 -5- 

 
authorized to sign this Amendment and the other Loan Documents to be executed and delivered in connection herewith and the true signatures of such officer or officers and specifying the
Authorized Officers permitted to act on behalf of such Loan Party for purposes of this Amendment and such other Loan Documents and the true signatures of such officers, on which each Agent and each Lender may conclusively rely; and (C) copies
of its organizational documents, including its certificate of incorporation, bylaws, certificate of limited partnership, partnership agreement, certificate of formation, and limited liability company agreement as in effect on the Amendment
No. 2 Effective Date, recently certified by the appropriate state official where such documents are filed in a state office (or, in the alternative, certifying that such organizational documents have not been amended since the latest delivery
of such organizational documents pursuant to Section 7.1.1(b)(iii) of the Credit Agreement or pursuant to a condition precedent to effectiveness of an amendment to the Credit Agreement, and that such organizational documents are in full force
and effect), together with recently dated certificates from the appropriate state officials as to the continued existence and good standing of such Loan Party in each state where organized. 

(e) Solvency Certificate. The Agents shall have received a certificate of the chief financial officer of the General
Partner on behalf of the Borrower stating that, after giving effect to this Amendment, the Borrower and its Subsidiaries , taken as a whole, are Solvent. 

(f) Fees and Expenses. All fees and expenses payable on or before the Amendment No. 2 Effective Date by the
Borrower to the Collateral Agent (or its Affiliates) in connection with this Amendment shall have been paid in accordance with Section 11.3 of the Credit Agreement, including the reasonable fees, charges and disbursements of counsel for the
Collateral Agent. 
 3. Full Force and Effect; Reaffirmation. All of the terms, conditions, representations, warranties and covenants
contained in the Loan Documents shall continue in full force and effect except, in each case, as expressly modified by this Amendment. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement. All references to the Credit
Agreement in any Loan Document, unless expressly provided otherwise, shall mean and be a reference to the Credit Agreement as amended by this Amendment. Each Loan Party, by its signature below, hereby affirms and confirms (i) its obligations
under each of the Loan Documents to which it is a party and (ii) its guarantee of the Obligations and the pledge of and/or grant of a security interest in its assets as Collateral to secure the Obligations, and acknowledges and agrees that such
guarantee, pledge and/or grant continue in full force and effect in respect of, and to secure, the Obligations. The amendment of the Credit Agreement pursuant to this Amendment and all other Loan Documents amended and/or executed and delivered in
connection herewith shall not constitute a novation of the Credit Agreement and the other Loan Documents as in effect prior to the Amendment No. 2 Effective Date. 

4. Counterparts. This Amendment may be executed by different parties hereto in any number of separate counterparts, each of which, when
so executed and delivered shall be an original and all such counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telecopy or e-mail shall
be effective as delivery of a manually executed counterpart of this Amendment. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in
connection with this Amendment and the transactions contemplated hereby or thereby shall be deemed to include an electronic symbol or process attached to a contract or other record and adopted by a Person with the intent to sign, authenticate or
accept such contract or record (each an “Electronic Signature”), deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually

  
 -6- 

 
executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal
Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or any other similar state laws based on the Uniform Electronic Transactions Act; provided that nothing in any Loan Document
shall require any Agent or any CEI Agent to accept Electronic Signatures in any form or format without its prior written consent. 
 5.
Severability. If any term of this Amendment or any application thereof shall be held to be invalid, illegal or unenforceable, the validity of other terms of this Amendment or any other application of such term shall in no way be affected
thereby. 
 6. Entire Agreement. This Amendment sets forth the entire agreement and understanding of the parties with respect to the
amendments to the Loan Documents contemplated hereby and supersedes all prior understandings and agreements, whether written or oral, between the parties hereto relating to such amendments. No representation, promise, inducement or statement of
intention has been made by any party that is not embodied in this Amendment, and no party shall be bound by or liable for any alleged representation, promise, inducement or statement of intention not set forth herein. 

7. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New York without regard
to its conflict of laws principles. The provisions of Section 11.11.2 through 11.11.5 of the Credit Agreement shall apply to this Amendment mutatis mutandis. 

[SIGNATURE PAGES FOLLOW] 
  

  
 -7- 

 IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have
executed this Amendment as of the day and year first above written. 
  

					
	CONSOL COAL RESOURCES LP
	
	By: CONSOL COAL RESOURCES GP LLC,
		 	its general partner

 
					
		
	By:	 	 /s/ Martha A. Wiegand

					
		 	Name: Martha A. Wiegand
		 	Title:   Authorized Officer

 
					
			
	GUARANTORS:	 		 	
	
	CONSOL OPERATING LLC
	CONSOL THERMAL HOLDINGS LLC
	CONSOL COAL FINANCE CORP.

 
					
		
	By:	 	 /s/ Martha A. Wiegand

		 	Name: Martha A. Wiegand
		 	Title:   Authorized Officer

 [Signature Page to Amendment No. 2 to CCR Affiliated Company Credit Agreement] 

 
			
	CONSOL ENERGY INC.,
	as Administrative Agent and as the Lender
		
	By:	 	 /s/ Mitesh Thakkar

	Name:	 	Mitesh Thakkar
	Title:	 	Chief Financial Officer

 [Signature Page to Amendment No. 2 to CCR Affiliated Company Credit Agreement] 

 
			
	PNC BANK, NATIONAL ASSOCIATION, as Collateral Agent
		
	By:	 	 /s/ Kyle T. Helfrich

	Name:	 	Kyle T. Helfrich
	Title:	 	Vice President

 [Signature Page to Amendment No. 2 to CCR Affiliated Company Credit Agreement] 

 SCHEDULE 1.1(A) 

PRICING GRID 
 The following table shall
apply for determining interest rates for periods prior to the Amendment No. 2 Effective Date: 
  

							
	 Level
	  	 Total Net Leverage Ratio
	  	Applicable Rate	 
	 I
	  	< 1.50:1.00	  	 	3.75	% 
	 II
	  	 3 1.50:1.00 and < 2.00:1.00
	  	 	4.00	% 
	 III
	  	 3 2.00:1.00 and < 2.50:1.00
	  	 	4.25	% 
	 IV
	  	 3 2.50:1.00 and < 3.00:1.00
	  	 	4.50	% 
	 V
	  	3 3.00:1.00	  	 	4.75	% 

 The following table shall apply for determining interest rates for periods on and following the Amendment No. 2 Effective
Date: 
  

							
	 Level
	  	 Total Net Leverage Ratio
	  	Applicable Rate	 
	 I
	  	< 1.50:1.00	  	 	4.25	% 
	II	  	3 1.50:1.00 and < 2.00:1.00	  	4.50%	 
	 III
	  	 3 2.00:1.00 and < 2.50:1.00
	  	 	4.75	% 
	 IV
	  	 3 2.50:1.00 and < 3.00:1.00
	  	 	5.00	% 
	 V
	  	3 3.00:1.00	  	 	5.25	% 

 For purposes of determining the Applicable Rate: 

(a) From the Amendment No. 2 Effective Date through the date on which the first Compliance Certificate is required to be
delivered hereunder after the Amendment No. 2 Effective Date (the “Initial Period”), the Applicable Rate shall be the amount set forth under Level III of this Schedule 1.1(A) set forth above. 

(b) It is expressly agreed that after the Initial Period, the Applicable Rate shall be determined based upon Schedule
1.1(A) above and change on each date on which a Compliance Certificate is required to be delivered hereunder. 
 (c) If,
as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the Total Net Leverage Ratio as calculated by the Borrower as of any
applicable date was inaccurate and (ii) a proper calculation of the Total Net Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent
for the account of the applicable Lenders, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code, automatically and without
further action by the Administrative Agent or any Lender), an amount equal to the excess of the amount of interest and 

 
fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent or any
Lender, as the case may be, under Section 4.2 [Interest After Default] or Section 9 [Default]. The Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment of all other Obligations
hereunder.Exhibit 10.1

 

PACIRA
BIOSCIENCES, INC.

DEFERRED COMPENSATION
PLAN

 

Effective May
25, 2020

 

ARTICLE I.PURPOSE
AND NATURE OF PLAN

 

The purpose of the
Plan is to provide a means for Eligible Employees to defer receipt of a portion of their compensation in order for the Employer
to attract and retain exceptional executives. The Employer intends that the Plan shall constitute, and shall be construed and administered
as, an unfunded plan of deferred compensation for a select group of management or highly compensated employees within the meaning
of the Employee Retirement Income Security Act of 1974, as amended, and the Code. The Plan is not intended to be qualified under
Code Section 401(a). The Plan is effective as of May 25, 2020.

 

ARTICLE II. DEFINITIONS

 

Whenever capitalized
herein, the following terms shall have the respective meanings set forth below, unless the context clearly indicates otherwise.

 

2.1       “Account”
means, with respect to a Participant, a separate unfunded account, including an Annual Account and an Account established pursuant
to Section 5.2, established on the books of the Employer for purposes of recording such Participant's interest under the Plan.

 

2.2       “Acquirer”
means a third party that is not a current an affiliate of the Company and is a party to a Change in Control.

 

2.3       “Annual
Account” means, with respect to a Participant, an Account established on the books of the Employer to record amounts
attributable to such Participant’s Salary and Bonus deferrals for a particular Plan Year and any Matching Amounts related
thereto.

 

2.4       “Administrator”
means the Compensation Committee.

 

2.5       “Affiliate”
means (a) a member of a controlled group of corporations as defined in Code Section 414(b) of which the Company is also
a member or (b) a trade or business that is under common control with the Company as determined in accordance with Code Section 414(c);
provided, however, that the determination of whether a corporation, trade or business (whether or not incorporated) is an Affiliate
will be made by substituting the phrase "at least 50 percent" for the phrase "at least 80 percent" at each
place that the latter phrase appears in Code Section 1563(a)(1), (2) and (3) and Treasury Regulations Section 1.414(c)-2.

 

2.6       “Beneficiary”
means the person, trust or other entity designated by the Participant in accordance with Section 8.5(b) hereof to receive payment
under the Plan in the event of the Participant's death.

 

2.7       “Board”
means the Board of Directors of the Company. 

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 1

     

    

 

2.8       “Change
in Control” means, with respect to a Participant, the occurrence of any of the following events with respect of the Participant's
Employer:

 

(a)       the
sale or transfer (whether by sale of capital stock or merger) of more than fifty percent (50%) of the Employer’s issued and
outstanding equity to the Acquirer; or

 

(b)       the
sale of at least 90% of the Employer’s assets to the Acquirer;

 

provided such event also
constitutes a “change in control event” under Treasury Regulation Section 1.409A-3(i)(5). Solely for purposes
of this Section 2.8, “Employer” includes those entities described in Treasury Regulation Section 1.409A-3(i)(5)(ii)
and the third paragraph of Section VI.E of the preamble to the Proposed Treasury Regulations issued under Code Section 409A
on September 29, 2005, to the extent permitted therein.

 

2.9       “Code”
means the Internal Revenue Code of 1986, as amended and in effect from time to time.

 

2.10       “Company”
means Pacira BioSciences, Inc., a Delaware corporation, or any successor thereto.

 

2.11       “Compensation
Committee” means the Compensation Committee of the Board.

 

2.12       “Deferral
Agreement” means the election form(s) promulgated by the Administrator and executed by the Participant authorizing the
deferral of all or a portion of the Participant’s Salary and/or Bonus and consenting to the terms and conditions of the Plan,
the same as if the Participant were a signatory hereto. The Deferral Agreement may be in electronic form and the Participant’s
execution thereof may be evidenced electronically.

 

2.13       “Disabled”
means, with respect to a Participant, that such Participant has a Disability.

 

2.14       “Disability”
means a permanent and total disability that prevents a Participant from performing the material duties of his normal occupation
for a period of at least six-consecutive months. Whether a Participant has a Disability shall be determined by the Board, in its
sole discretion.

 

2.15       “Eligible
Employee” means an Employee who is designated as an Eligible Employee by the Compensation Committee; provided, however,
that only those Employees who are members of a select group of management or highly compensated employees can be designated as
(or remain) Eligible Employees. The Compensation Committee may, in its sole discretion, revoke an Employee’s status as an
Eligible Employee at any time and for any reason; provided, however, that any such revocation shall not affect the Participant's
rights with respect to amounts already credited to his or her Accounts or terminate the Participant's outstanding Deferral Agreements.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 2

     

    

 

2.16       “Employee”
means a person who is treated by an Employer as an employee for payroll tax purposes.

 

2.17       “Employer”
means the Company and any Affiliate that adopts the Plan with the Company's consent.

 

2.18       “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended and in effect from time to time.

 

2.19       “401(k)
Plan” means the Pacira BioSciences, Inc. 401(k) Salary Savings Plan, as amended and in effect from time to time.

 

2.20       “Initial
Claims Reviewer” means the person or persons appointed by the Administrator to make the initial determination on benefit
claims under the Plan pursuant to Section 9.4(b), or, if no such person has been so appointed, the Administrator.

 

2.21       “Matching
Amount” means an amount credited to a Participant’s Annual Account for a Plan Year pursuant to Section 5.1.

 

2.22       “Measurement
Fund” means a fund established by the Administrator to serve as a measurement device for calculating earnings and losses
to be allocated to Participant Accounts.

 

2.23       “Participant”
means an Eligible Employee who has elected, under the Plan, to defer payment of all or any portion of his or her Salary and/or
Bonus (or any Eligible Employee for whom an amount has been credit to an Account pursuant to Section 5.2 hereof, whether or not
such Eligible Employee has also elected to defer any portion of his or her Salary or Bonus). A person remains a Participant so
long as he or she has an Account balance under the Plan, whether or not he or she remains an Eligible Employee.

 

2.24       “Performance
Period” means the performance period to which a Bonus relates.

 

2.25       “Plan”
means the Pacira BioSciences, Inc. Deferred Compensation Plan, as set forth herein, together with all amendments hereto.

 

2.26       “Plan
Year” means the calendar year.

 

2.27       “Retirement”
means a Participant's Termination on or after the date on which the Participant attains age 65.

 

2.28       “Terminate”
and its derivations, such as “Termination,” mean separation from service, within the meaning of Code
Section 409A(a)(2)(A)(i), with the Employer and the Affiliates.

 

2.29       “Unforeseeable
Emergency” means a severe financial hardship to the Participant resulting from an illness or accident of the Participant,
the Participant's spouse, the Participant's Beneficiary or the Participant's dependent (as defined in Code Section 152(a)), without
regard to Sections 152(b)(1), (b)(2) and (d)(1)(B)); loss of the Participant's property due to casualty (including the need to
rebuild a home following damage to a home not otherwise covered by insurance, for example, not as a result of a natural disaster);
or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.
For example: (a) the imminent foreclosure of or eviction from the Participant's primary residence may constitute an Unforeseeable
Emergency; (b) the need to pay for medical expenses, including nonrefundable deductibles, as well as for the costs of prescription
drug medication may constitute an Unforeseeable Emergency; (c) the need to pay for the funeral expenses of a spouse, a Beneficiary,
or a dependent (as defined in Code Section 152, without regard to Sections 152(b)(1), (b)(2) and (d)(1)(B)) may constitute an Unforeseeable
Emergency; and (d) the purchase of a home and the payment of college tuition do not constitute Unforeseeable Emergencies.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 3

     

    

 

ARTICLE III. ELIGIBILITY
AND PARTICIPATION

 

3.1       Eligibility.
An Eligible Employee will be eligible to participate in the Plan as of the date designated by the Compensation Committee.

 

3.2       Participation.
An Eligible Employee will become a Participant by completing a Deferral Agreement and filing it with the Company in accordance
with Article IV hereof.

 

ARTICLE IV. DEFERRALS
OF SALARY AND BONUS

 

4.1       Deferral
of Salary. 

 

(a)       Subject
to any minimum and maximum deferral requirements that the Administrator may establish, prior to the beginning of each Plan Year,
an Eligible Employee may elect to defer receipt of a portion of the Salary that he or she anticipates earning during such Plan
Year. An Eligible Employee shall make such election by filing a completed Deferral Agreement with the Company in accordance with,
and subject to, such rules and procedures as the Administrator may establish; provided, however that such Deferral Agreement must
be filed with the Company prior to the first day of the Plan Year for which it is to be effective and shall become irrevocable
with respect to a Plan Year on the last day of the Plan Year immediately preceding such Plan Year.

 

(b)       Notwithstanding
Section 4.1(a), subject to any minimum and maximum deferral requirements that the Administrator may establish, prior to the beginning
of each Plan Year, an Eligible Employee who first becomes eligible to participate in the Plan during a Plan Year, including Eligible
Employees who become eligible to participate in 2020, may elect to defer Salary that he or she has not yet earned (as of the date
his or her Deferral Agreement is filed with the Company) in that Plan Year, provided he or she files a Deferral Agreement with
the Company, in accordance with, and subject to, such rules and procedures as the Administrator may establish, within 30 days following
the date on which he or she first becomes eligible to participate in the Plan.

 

4.2       Deferral
of Bonus. Subject to any minimum or maximum deferral requirements that the Administrator may establish, an Eligible Employee
may elect to defer receipt of all or any portion of any Bonus that he or she anticipates earning with respect to any Performance
Period beginning during a Plan Year. An Eligible Employee shall make such election by filing a completed Deferral Agreement with
the Company in accordance with, and subject to, such rules and procedures as the Administrator may establish; provided, however
that such Deferral Agreement must be filed with the Company prior to the first day of the Plan Year in which the Performance Period
applicable to such Bonus begins and shall become irrevocable with respect to such Bonus on the last day of the Plan Year immediately
preceding such Plan Year (or on such earlier date as the Administrator may specify). Notwithstanding the foregoing, if an Eligible
Employee first becomes eligible to participate in the Plan during a Plan Year, such Eligible Employee cannot elect to defer any
portion of any Bonus he or she may receive with respect to any Performance Period beginning during the Plan Year in which he or
she first becomes eligible to participate in the Plan.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 4

     

    

 

(b)       Notwithstanding
Section 4.2(a), subject to any minimum and maximum deferral requirements that the Administrator may establish, an Eligible Employee
who first becomes eligible to participate in the Plan during the Plan Year commencing on May 25, 2020 may elect to defer any Bonus
he or she earns for 2020, provided he or she files a Deferral Agreement with the Company, in accordance with, and subject to, such
rules and procedures as the Administrator may establish, on or before June 30, 2020 (or such earlier date as is specified by the
Administrator); provided, however, that this Section 4.2(b) shall not apply to an Eligible Employee who was hired by the Employer
after January 1, 2020.

 

4.3       Suspension
of Deferral Elections. A Participant may reduce or suspend his or her deferrals under the Plan for a Plan Year if the Administrator
determines that the Participant has experienced (or would experience, if such a reduction or suspension were not permitted) an
Unforeseeable Emergency that cannot be relieved through reimbursement or compensation by insurance or otherwise or by liquidation
of the Participant's assets (to the extent the liquidation would not itself cause severe financial hardship). Any Participant who
wishes to reduce or suspend his deferrals for a Plan Year pursuant to this Section 4.3 must file a written request for such suspension,
together with such supporting documentation as the Administrator may require, with the Administrator for review and approval. Such
suspension shall become effective as soon as administratively practicable after it is approved by the Administrator. A Participant
who has suspended his deferrals under this Section 4.3 may not recommence those deferrals until the first day of the following
Plan Year.

 

4.4       Accounting.
The Employer shall credit a Participant's deferrals pursuant to Section 4.1 and/or 4.2 hereof for a Plan Year to the Participant’s
Annual Account for such Plan Year on or as soon as administratively practicable after the date on which such amounts would have
been paid had they not been deferred by the Participant.

 

ARTICLE V. ADDITIONAL
ALLOCATIONS

 

5.1       Matching
Amount. The Employer shall credit a Participant’s Annual Account for a Plan Year with an amount equal to the matching
contributions that the Employer would have made to the 401(k) Plan with respect to the Participant’s Salary and Bonus deferrals
covered by the Participant’s Deferral Agreement for such Plan Year had such amounts been deferred under the 401(k) Plan,
without regard to any limitations imposed under Section 401(a)(17) or 402(g) of the Code, but only if the Participant remains employed
by the Employer or an Affiliate as of the date on which such amount is credited to his or her Annual Account. Such credit(s) shall
be made on or about the date(s) matching contributions for the calendar year in which the deferral occurs are made to the 401(k)
Plan.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 5

     

    

 

5.2       Discretionary
Amounts. The Employer may, from time to time, credit a separate Account established for a Participant with such amount as
the Employer, in its sole and absolute discretion, may determine. The Employer is not required to credit any amounts under this
Section 5.2 to any Participant, and may credit different amounts to different Participants and at different times. Any amounts
credited to a Participant’s Account pursuant to this Section 5.1 will be subject to such vesting schedule(s) as the
Employer may establish and will be distributed at such time(s) and in such form(s) as the Employer may designated at the time
such amount is credited to the Participant’s Account. If the Employer does not designate a special vesting schedule for
any such amount, then such amount, adjusted pursuant to Section 6.2 for any earnings and losses related thereto, will be
fully vested at all times. If the Employer does not designate a time and/or form of payment, such amount, adjusted pursuant to
Section 6.2 for any earnings and losses related thereto, will be distributed in a lump sum during the second month of the
first calendar quarter commencing after the Participant’s Termination or death or, if earlier, within 90 days after a Change
in Control (the .actual date during such 90-day period on which distribution will be made will be determined by the Administrator,
in its sole and absolute discretion, and neither the Participant nor his or her Beneficiary will have any right to designate that
date or the taxable year of the payment).

 

ARTICLE VI. ACCOUNTS

 

6.1       Establishment
and Nature of Participant Accounts. The Employer will establish and maintain one or more Accounts in the name of each Participant
to reflect the Participant's interest under the Plan. A separate Annual Account will be established and maintained with respect
to each Plan Year for which the Participant defers Salary and/or Bonus. One or more separate Accounts shall also be maintained
for any additional amounts credited to the Participant pursuant to Section 5.2 hereof. The maintenance of such Accounts is for
recordkeeping purposes only and will not represent any investment made on any Participant's behalf by the Administrator, the Employer
or any other person. No funds or other assets of the Employer will be segregated or attributable to the amounts that may be credited
to a Participant's Accounts from time to time, but rather benefit payments under the Plan will be made solely from the general
assets of the Employer at the time any such payments become due and payable.

 

6.2       Account
Earnings. 

 

(a)       Allocation
of Earnings or Losses. Participant Accounts shall be adjusted for any earnings or losses related thereto on each day that the
New York Stock Exchange is open for trading. The amount of earnings or losses to be allocated to a Participant’s Accounts
will be based upon the investment performance of the Measurement Funds selected by the Participant pursuant to Section 6.2(b)
hereof, net of any fund operating expenses. To the extent a Participant fails to select a Measurement Fund with respect to any
portion of his or her Accounts, such Participant will be deemed to have selected the Measurement Fund designated by the Administrator
as the default Measurement Fund.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 6

     

    

 

(b)       Selection
of Measurement Funds. A Participant may allocate and reallocate his or her Accounts (and future contributions thereto) among
the various Measurement Funds established by the Administrator from time to time. All such allocations and reallocations shall
be made in accordance with, and subject to, such rules and procedures as the Administrator may establish. The Administrator may,
in its sole and absolute discretion, discontinue, substitute or add any Measurement Fund(s) at any time.

 

(c)       No
Actual Investment. The Measurement Funds are to be used for earnings and loss measurement purposes only. The use of a particular
Measurement Fund, whether or not pursuant to a Participant's selection of such Measurement Fund, and the crediting or debiting
of amounts to a Participant's Accounts based on such Measurement Fund, shall not be considered or construed as an actual investment
by, or on behalf of, such Participant in any Measurement Fund or any other investment or to require the Employer to invest the
Employer’s assets in such Measurement Fund or in any other particular investment. No Participant or Beneficiary shall have
any preferred claim to the amounts credited to his or her Accounts or to any assets of the Employer on account of a Participant's
participation in the Plan prior to the time such amounts are actually paid to the Participant or Beneficiary, and then only to
the extent of any such payment.

 

ARTICLE VII. VESTING

 

7.1       Salary
and Bonus Deferrals. A Participant shall be fully vested in his or her Annual Accounts (other than the portion thereof attributable
to Matching Amounts) at all times, subject only to the Participant’s status as a general unsecured creditor of the Employer
in the event of its insolvency or bankruptcy.

 

7.2       Matching
Amounts. Matching Amounts credited to a Participant’s Annual Account for a Plan Year pursuant to Section 5.1 shall become
fully vested on April 1 of the calendar year immediately following the calendar year in which such amounts are credited to such
Annual Account, provided the Participant remains continuously employed by an Employer or any Affiliate until such April 1. In addition,
a Participant shall become fully vested in such amounts prior to such April 1 if, prior to such date, he or she Terminates due
to Retirement or becomes Disabled or dies while still employed by the Employer or an Affiliate. Prior to becoming fully vested,
a Participant shall have no vested interest in such amounts.

 

7.3       Discretionary
Amounts. Any Discretionary Amount credited to a Participant’s Account pursuant to Section 5.2 shall become vested in
accordance with the provisions of Section 5.2.

 

7.4       Forfeitures.
Any unvested balance in a Participant’s Accounts shall be immediately forfeited by the Participant upon his or her Termination.

 

7.5       Change
in Control. Notwithstanding the foregoing provisions of this Article VII, a Participant who is employed by the Employer or
an Affiliate on the date of a Change in Control shall become fully vested in all of his or her Accounts on such date.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 7

     

    

 

ARTICLE VIII. DISTRIBUTIONS

 

8.1       Timing
of Distribution.

 

(a)       Distribution
Upon Termination. Except as provided otherwise in this Article VIII (and subject to Section 11.12), all vested amounts credited
to a Participant's Annual Accounts shall be distributed, or commence to be distributed, to the Participant during the second month
of the first calendar quarter commencing after the date on which the Participant Terminates.

 

(b)       In-Service
Distribution. If elected by the Participant in his Deferral Agreement for a particular Plan Year (or in such other form as
the Administrator may prescribe and which the Participant files with the Employer along with his Deferral Agreement), the vested
amounts credited to the Participant's Annual Account for such Plan Year shall be distributed (or commence to be distributed) to
the Participant in the second month of the calendar quarter specified by the Participant in such Deferral Agreement (or other form);
provided, however, that no amounts may be distributed pursuant to this Section 8.1(b) prior to the fourth calendar year commencing
after the end of the Plan Year to which such Annual Account relates; and provided further that a Participant’s election under
this Section 8.1(b) shall not become effective if the Participant Terminates or dies prior to the date on which distribution pursuant
to such election has been made or commenced to be made.

 

(c)       No
Changing Time of Distribution Election. A Participant may not change his or her time of distribution election with respect
to an Annual Account once that election has become irrevocable, which will occur at the same time as the related Deferral Agreement
becomes irrevocable.

 

(d)       Discretionary
Amounts. Any Discretionary Amount credited to a Participant’s Account pursuant to Section 5.2 shall be distributed in
accordance with the provisions of Section 5.2.

 

8.2       Form
of Distribution.

 

(a)       Normal
Form of Distribution. Except as provided in Section 8.2(b), all amounts credited to a Participant’s Annual Accounts will
be distributed in a lump sum.

 

(b)       Installment
Payments. In lieu of receiving distribution in the form of a lump sum, a Participant may elect in his or her Deferral Agreement
for a particular Plan Year (or in such other form as the Administrator may prescribe and which the Participant files with the Company
along with such Deferral Agreement) to have his or her Annual Account for such Plan Year distributed in the form of annual installments
over a period of 2, 3, 4 or 5 years. The first installment shall be paid at the time specified in Section 8.1(a) or 8.1(b) and
subsequent installments shall be paid on or about the annual anniversary date of the first installment. The amount of any installment
shall be equal to the quotient obtained by dividing the vested balance in such Account as of the valuation date immediately preceding
the date on which such installment is processed by the number of payments (including the installment being processed) remaining
in the installment period.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 8

     

    

 

(c)       No
Changing Form of Distribution Election. A Participant may not change his or her form of distribution election with respect
to an Annual Account once that election has become irrevocable, which will occur at the same time as the related Deferral Agreement
becomes irrevocable.

 

(d)       Discretionary
Amounts. Any Discretionary Amount credited to a Participant’s Account pursuant to Section 5.2 shall be distributed in
accordance with the provisions of Section 5.2.

 

8.3       Unforeseeable
Emergencies.

 

(a)       Any
Participant who experiences an Unforeseeable Emergency may request a distribution from his or her Accounts under the Plan. The
amount of any such distribution may not exceed the lesser of the vested balance in the Participant's Accounts as of the date of
distribution or the amount reasonably necessary to satisfy the emergency need (which may include amounts necessary to pay Federal,
state, local or foreign income taxes or penalties reasonably anticipated to result from the distribution). Whether a Participant
has experienced an Unforeseeable Emergency permitting a distribution under this Section 8.3 shall be determined by the Administrator
based on the relevant facts and circumstances of each case, but, in any case, a distribution on account of an Unforeseeable Emergency
may not be made to the extent that the emergency need is or may be relieved through reimbursement or compensation by insurance
or otherwise, by liquidation of the Participant's assets (to the extent the liquidation would not itself cause severe financial
hardship), or by cessation of deferrals under the Plan. A Participant shall be required to submit a written request for such a
withdrawal, together with such supporting documentation as the Administrator may require, to the Administrator for review and approval.
If the Administrator approves the Participant's request, the Participant's deferrals shall be cancelled prospectively, effective
upon the date of such approval, and any distribution shall be made within 90 days after such approval. (The actual date during
the 90-day period on which distribution will be made shall be determined by the Administrator, in its sole and absolute discretion,
and the Participant shall have no right to designate that date or the taxable year of the payment.) If the Participant's emergency
need can be satisfied simply by cancelling the Participant's deferrals without a corresponding distribution, then the Administrator
may authorize such cancellation, even though no distribution can be made. A Participant whose deferrals have been cancelled under
this Section 8.3(a) may not recommence deferrals under the Plan until the first day of the following Plan Year.

 

(b)       The
recommencement of deferrals following cancellation pursuant to this Section 8.3 shall be governed by the provisions of Sections
4.1 and 4.2 hereof.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 9

     

    

 

8.4       Distribution
Upon Death.

 

(a)       Upon
the death of a Participant, any vested balance in the Participant's Accounts that has not yet been distributed shall be paid in
a lump sum to the Participant's Beneficiary within 90 days after the Participant's death. The actual date during the applicable
90-day period on which payment is made shall be determined by the Administrator, in its sole and absolute discretion, and neither
the Participant nor the Participant's Beneficiary shall have any right to designate that date or the taxable year of the payment.

 

(b)       A
Participant shall designate his or her Beneficiary on such form (filed with the Company) as the Administrator shall prescribe and
may change that designation at any time by filing a new beneficiary designation with the Company. The most recent beneficiary designation
on file with the Company shall be controlling. If the Participant fails to designate a Beneficiary, or if all of the Participant's
designated Beneficiaries predecease the Participant, then the Participant's Beneficiary shall be the Participant's surviving spouse
or, if the Participant has no surviving spouse, the Participant's estate.

 

8.5       Small
Benefit Cash Outs. Notwithstanding Section 5.2, 8.1 or 8.2, if the total remaining vested balance in a Participant’s
Accounts as of any date following the Participant’s Termination, when combined with the Participant’s vested interest
on such date under any other nonqualifed deferred compensation plan, method, program or other arrangement that must be aggregated
with the Plan under Treasury Regulation Section 1.409A-1(c)(2) (each an “Aggregated Plan”), fails to exceed
the applicable dollar amount under Code Section 402(g)(1)(B) for the year of payment, then the Administrator may direct the Employer
to immediately distribute the total remaining vested balance in the Participant’s Accounts in a lump sum; provided, however,
that this Section 8.5 will apply to a Participant only if the Participant’s remaining vested interest in each Aggregated
Plan is distributed at the same time as his interest under the Plan is distributed pursuant to this Section 8.5.

 

8.6       Change
in Control. Notwithstanding Section 8.1 or 8.2, any unpaid vested balance in a Participant's Annual Accounts will be distributed
to the Participant (or, in the case of the Participant's death, the Participant's Beneficiary) in a lump sum cash payment within
90 days following a Change in Control, whether or not the Participant Terminated or died on or before such date. The actual date
during such 90-day period on which distribution will be made will be determined by the Administrator, in its sole and absolute
discretion, and neither the Participant nor his or her Beneficiary will have any right to designate that date or the taxable year
of the payment.

 

ARTICLE IX. ADMINISTRATION

 

9.1       Plan
Administration.

 

(a)       The
Plan will be administered by the Administrator.

 

(b)       The
Administrator has all discretionary and other authority to control and manage the operation and administration of the Plan, except
such authority as is specifically allocated otherwise by or under the terms hereof, and has the power to take any action that it
deems necessary or appropriate to carry out such responsibilities, including, without limitation, the discretionary authority to
(i) construe, interpret and apply the terms and provisions of the Plan, (ii) prescribe such rules and regulations, and
issue such directives, as it deems necessary or appropriate for the administration of the Plan, and (iii) make all other determinations
and decisions as it deems necessary or appropriate for the administration of the Plan. The Administrator may correct any defect
or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent it, in its discretion, deems
appropriate.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 10

     

    

 

(c)       No
Participant who represents or is authorized to act on behalf of (or who is a member of) the Administrator or the Board may decide,
determine or act on any matter that affects the distribution, nature or method of settlement of solely his or her benefit under
the Plan, except in exercising an election available to that Participant in his or her capacity as a Participant.

 

(d)       The
determination of the Administrator with respect to any question arising out of or in connection with the administration, interpretation,
and application of the Plan shall be final, binding, and conclusive upon all persons and shall be given the greatest deference
permitted by law.

 

9.2       Expenses.
All costs and expenses that are necessary to operate and administer the Plan and Trust will be paid by the Employer.

 

9.3       Disputed
Payee or Act. If any dispute arises regarding the person to whom payment or delivery of any sums or property should be made
by the Employer, or regarding any act to be performed, the Employer may, in its sole and absolute discretion, retain such payment
and postpone the performing of such act until final adjudication of such dispute has been made in a court of competent jurisdiction
or otherwise to the satisfaction of the Employer or until the Employer has been indemnified against loss to its satisfaction.

 

9.4       Claims
Procedure.

 

(a)       Filing
a Claim. A Participant or a Beneficiary (the "Claimant"), or the authorized representative of either, who believes
that he or she has been denied benefits to which he or she is entitled under the Plan may file a written claim for such benefits
with the Initial Claims Reviewer. Any claim must be in writing and must contain the following information:

 

		(1)	The reason for making the claim;

 

		(2)	The facts supporting the claim;

 

		(3)	The amount claimed; and

 

		(4)	The Claimant's name and his or her (or his or her authorized representative's) address.

 

(b)       Claim
Review. Claims will be decided by the Initial Claims Reviewer, which will make its decision with respect to a claim and notify
the Claimant (or his or her authorized representative) in writing of such decision within 90 days (45 days in the case of a claim
related to a Participant's Disability) after receiving the claim. The Initial Claims Reviewer may extend this 90-day period (45-day
period in the case of a claim related to a Participant's Disability) for an additional 90 days (30 days in the case of a claim
related to a Participant's Disability) if Initial Claims Reviewer determines that special circumstances require additional time
to process the claim. The Initial Claims Reviewer will notify the Claimant (or his or her authorized representative) in writing
of any such extension within 90 days (45 days in the case of a claim related to a Participant's Disability) of receiving the
claim. The notice will include the reason(s) why the extension is necessary and the date by which the Initial Claims Reviewer expects
to render its decision on the claim. Claims related to a Participant's Disability will be subject to such additional procedures
as are specified in 29 C.F.R. § 2560.503-1 for disability claims.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 11

     

    

 

If a claim is partially
or completely denied, the written notice to the Claimant (or his or her authorized representative) will include:

 

		(1)	The specific reason or reasons for the denial;

 

		(2)	Reference to the specific Plan provisions on which the denial is based;

 

		(3)	A description of any additional material or information necessary for the Claimant to perfect the
claim and an explanation of why such material or information is necessary;

 

		(4)	A description of the Plan’s claim appeal procedure (and the time limits applicable thereto),
including a statement of the Claimant's right to bring a civil action under Section 502(a) of ERISA, following an adverse
determination on appeal; and

 

		(5)	In the case of an adverse benefit determination related to a Participant's Disability:

 

		(i)	A discussion of the decision, including an explanation of the basis for disagreeing with or not
following (i) the views presented by the claimant to the Plan of health care professionals treating the Participant and vocational
professionals who evaluated the Participant, (ii) the views of medical or vocational experts whose advice was obtained on behalf
of the Plan in connection with the adverse benefit determination, without regard to whether the advice was relied upon in making
the determination, and (iii) a disability determination regarding the Participant presented by the claimant to the Plan made by
the Social Security Administration;

 

		(ii)	If the adverse determination is based on a medical necessity or experimental treatment or similar
exclusion or limit, either an explanation of the scientific or clinical judgment for the determination, applying the terms of the
Plan to the Participant's medical circumstances, or a statement that such explanation will be provided free of charge upon request;

 

		(iii)	Either the specific internal rules, guidelines, protocols, standards or other similar criteria
of the Plan relied upon in making the adverse determination or, alternatively, a statement that such rules, guidelines, protocols,
standards or other similar criteria of the Plan do not exist; and

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 12

     

    

 

		(iv)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable
access to, and copies of, all documents, records, and other information relevant (within the meaning of 29 CFR 2560.503-1(m)(8))
to the claimant's claim for disability benefits.

 

(c)       Appealing
a Claim Denial. If a claim is partially or completely denied, the Claimant has the right to appeal the denial. To appeal a
claim denial, the Claimant (or his or her authorized representative) must file a written request for appeal with the Administrator
within 60 days (180 days in the case of a claim related to a Participant's Disability) after receiving written notice of the claim
denial. This written request for appeal should include:

 

		(1)	A statement of the grounds on which the appeal is based;

 

		(2)	Reference to the specific Plan provisions that support your claim;

 

		(3)	The reason(s) or argument(s) why the Claimant believes the claim should be granted and the evidence
supporting each reason or argument; and

 

		(4)	Any other comments, documents, records or information relating to the claim that the Claimant wishes
to submit.

 

The Claimant (or his
or her authorized representative) will be provided, upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant (within the meaning of 29 C.F.R. § 2560.503-1(m)(8)) to his or her claim.

 

(d)       Decision
on Appeal. Appeals will be decided by the Administrator, which will render its decision with respect to an appeal and notify
the Claimant (or his or her authorized representative) in writing of such decision within 60 days (45 days in the case of a claim
related to a Participant's Disability) after receiving the appeal. The may extend this 60-day period (45-day period in the case
of a claim related to a Participant's Disability) for an additional 60 days (45 days in the case of a claim related to a Participant's
Disability) if it determines that special circumstances require additional time to process the appeal. The Administrator will notify
the Claimant (or his or her authorized representative) in writing of any such extension within 60 days (45 days in the case
of a claim related to a Participant's Disability) of receiving the appeal. The notice will include the reason(s) why the extension
is necessary and the date by which the Administrator expects to render its decision on the appeal. In reaching its decision, the
Administrator will take into account all of the comments, documents, records and other information that the Claimant (or his or
her authorized representative) submitted, without regard to whether such information was submitted or considered by the Initial
Claims Reviewer in the Initial Claims Reviewer's denial of the claim, and the Administrator will not afford any deference to the
Initial Claims Reviewer's denial of the claim. Appeals of denials of claims related to a Participant's Disability will be subject
to such additional procedures as are specified in 29 C.F.R. § 2560.503-1 for such appeals.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 13

     

    

 

If a claim is partially
or completely denied on appeal, the written notice of claim denial will include the following:

 

		(1)	The specific reason or reasons for the denial;

 

		(2)	Reference to the specific Plan provisions on which the denial is based;

 

		(3)	A statement that the Claimant (or his or her authorized representative) is entitled to receive,
upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (within
the meaning of 29 C.F.R. § 2560.503-1(m)(8)) to the claim;

 

		(4)	A statement of the Claimant's right to bring an action under Section 502(a) of ERISA; and

 

		(5)	In the case of an adverse benefit determination related to a Participant's Disability:

 

		(i)	Any applicable contractual limitations period that applies to the claimant's right to bring a civil
action under ERISA Section 502(a), including the calendar date on which the contractual limitations period expires for the claim;

 

		(ii)	A discussion of the decision, including an explanation of the basis for disagreeing with or not
following (i) the views presented by the claimant to the Plan of health care professionals treating the Participant and vocational
professionals who evaluated the Participant, (ii) the views of medical or vocational experts whose advice was obtained on behalf
of the Plan in connection with a claimant's adverse benefit determination, without regard to whether the advice was relied upon
in making the benefit determination, and (iii) a disability determination regarding the Participant presented by the claimant to
the Plan made by the Social Security Administration;

 

		(iii)	If the adverse benefit determination is based on a medical necessity or experimental treatment
or similar exclusion or limit, either an explanation of the scientific or clinical judgment for the determination, applying the
terms of the Plan to the claimant's medical circumstances, or a statement that such explanation will be provided free of charge
upon request; and

 

		(iv)	Either the specific internal rules, guidelines, protocols, standards or other similar criteria
of the Plan relied upon in making the adverse determination or, alternatively, a statement that such rules, guidelines, protocols,
standards or other similar criteria of the Plan do not exist.

 

(e)       Filing
Suit. A Participant or Beneficiary must comply with the claim and appeal procedures described above before seeking any other
legal recourse (including filing a lawsuit under ERISA Section 502(a)) regarding claims for benefits. If a Claimant wishes to file
a court action after exhausting the foregoing procedures, the Claimant (or his or her authorized representative) must file such
action in a court of competent jurisdiction within 180 days after the date on which the Claimant (or his or her authorized representative)
received the Administrator’s written denial of the appeal or, if earlier, one year after the date of the occurrence of the
alleged facts or conduct giving rise to the claim (including, without limitation, the date the Claimant alleges he or she became
entitled to Plan benefits requested in the suit or legal action). Any further review, judicial or otherwise, of the Administrator's
decision on the Claimant’s claim will be limited to whether, in the particular instance, the Administrator abused its discretion.
In no event will such judicial review be on a de novo basis, because the Administrator has discretionary authority to determine
eligibility for (and the amount of) benefits under the Plan and to construe and interpret the terms and provisions of the Plan.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 14

     

    

 

ARTICLE X. AMENDMENT,
MODIFICATION AND TERMINATION

 

The Plan may be amended,
modified or terminated at any time by the Board; provided, however, that no amendment, modification or termination may reduce the
balance in a Participant's Accounts or adversely affect the vesting schedule applicable to any of a Participant’s Accounts.
If the Plan is terminated, then all Accounts will be distributed to Participants at the same time and in the same form as they
would have been distributed had the Plan not been terminated, unless the Board, in its sole and absolute discretion, directs that
distributions occur sooner in accordance with the provisions of Treasury Regulation Section 1.409A-3(j)(4)(ix).

 

ARTICLE XI. MISCELLANEOUS

 

11.1       Plan
Year. The Plan year is the calendar year.

 

11.2       Withholding
for Taxes and Other Deductions. The Employer will deduct from any distribution under the Plan any applicable taxes that it
is required by law to withhold. In addition, the Employer may also deduct from any distribution under the Plan any amounts owed
by the Participant to the Employer; provided, however, that the amount deducted from any distribution may not exceed the amount
of such distribution or withdrawal, less any applicable tax withholding.

 

11.3       No
Right to Employment. Nothing contained in the Plan or in any Deferral Agreement executed by a Participant in connection herewith
will be construed to (a) confer upon any Employee or any other person any right of employment with the Employer, (b) restrict in
any way with the Employer's right to terminate or change the terms or conditions of any Employee's or any other person's employment
at any time or for any reason, or (c) confer upon any Employee or any other person any claim or right to any distribution under
the Plan except in accordance with its terms.

 

11.4       Alienation
Prohibited. Neither a Participant nor a Beneficiary, nor any other person, shall have any right or ability to anticipate, alienate,
sell, transfer, assign, pledge or encumber, either voluntarily or involuntarily, any amount due or expected to become due under
the Plan prior to actual receipt thereof, and any attempt to do so shall be null and void. No amount due or expected to become
due under the Plan shall, prior to actual payment thereof, be (a) subject to attachment, garnishment, execution, levy, sequestration
or other seizure for the payment of any debts, judgments, alimony, separate maintenance, child support or other amounts owed by
the a Participant, Beneficiary or any other person, (b) transferable by operation of law in the event of a Participant's,
Beneficiary's or any other person's bankruptcy or insolvency, or (c) transferable to a spouse or any other person as a result
of a property settlement or otherwise. Notwithstanding the foregoing, the Administrator, in its sole discretion, may authorize
payment (including immediate payment) to an alternate payee to the extent necessary to fulfill a "domestic relations order,"
as defined in Code Section 414(p)(1)(B).

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 15

     

    

 

11.5       Unfunded
Plan. Notwithstanding the existence of the Trust, the Plan shall be unfunded. All amounts deferred by, or credited to, Participants
under the Plan, and all Participant Accounts established and maintained pursuant to the Plan shall continue for all purposes to
be part of the general assets of the Employer until distributed; and all benefits under the Plan shall be paid solely from the
general assets of the Employer. The Plan constitutes a mere promise by the Employer to make benefit payments in the future. Participants
and Beneficiaries will at all times be and remain general unsecured creditors of the Employer with respect to the Plan and any
rights and benefits thereunder.

 

11.6       General
Limitation of Liability. None of the Employer, the Board, the Compensation Committee, the Administrator or any other person
will be liable, either jointly or severally, for any act or failure to act or for anything whatsoever in connection with the Plan,
or the administration thereof, except, and only to the extent of, liability imposed because of willful misconduct, gross negligence
or bad faith. All benefit payments will be made solely from the general assets of the Employer.

 

11.7       No
Guaranty of Tax Consequences. None of the Employer, the Board, the Compensation Committee, the Administrator or any other person
makes any representations, warranties or guaranties to any Participant with respect to any tax, economic or legal consequences
of participation in the Plan, including without limitation under Code Section 409A, and no provision of the Plan (including,
without limitation, Section 11.12) will be interpreted or construed to transfer any liability for failure to comply with Code
Section 409A or any other legal requirements from the Participant or any other individual to the Employer, the Board, the
Compensation Committee, the Administrator or any other person. Each Participant, by executing a Deferral Agreement, will be deemed
to have waived any claim against the Employer, the Board, the Compensation Committee and the Administrator with respect to any
such tax, economic and legal consequences. A Participant should consult with professional tax advisors regarding all questions
relative to the tax consequences arising from participation in the Plan.

 

11.8       Successors
and Assigns. The terms and conditions of the Plan, as amended and in effect from time to time, will be binding upon the Company's
successors and assigns, including, without limitation, any entity into which the Company may be merged or with which the Company
may be consolidated.

 

11.9       Incompetency.
If the Administrator determines, in its sole and absolute discretion, that a benefit under the Plan is to be paid to a minor, a
person declared incompetent or to a person incapable of handling the disposition of that person's property, the Administrator,
in its sole and absolute discretion, may direct payment of such benefit to the guardian, legal representative or person having
the care and custody of such minor, incompetent or incapable person, or, solely in the case of a minor, to a custodian under the
Uniform Gifts to Minors Act or similar statute. The Administrator may require proof of minority, incompetency, incapacity, guardianship
or custodial authority, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment
for the account of the Participant and the Participant's Beneficiary, as the case may be, and will be a complete discharge of any
liability under the Plan for such payment amount.

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 16

     

    

 

11.10       Severability.
If any provision of the Plan is determined to be invalid, illegal or unenforceable in any jurisdiction, or as to any person, or
would disqualify the Plan under any law deemed applicable by the Administrator, such provision will be construed or deemed amended
to conform to applicable laws, or, if it cannot be so construed or deemed amended without, in the Administrator's determination,
materially altering the intent of the Plan, such provision will be stricken as to such jurisdiction or person, and the remainder
of the Plan will remain in full force and effect.

 

11.11       Choice
of Law. The Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by the
laws of the United States, will be governed by the laws of the State of Delaware without giving effect to the choice or conflicts
of law provisions thereof.

 

11.12       Compliance
with Section 409A. To the extent Code Section 409A is applicable to the Plan and the benefits provided under the
Plan, the Employer intends that the Plan comply with the deferral, payout and other limitations and restrictions imposed under
Code Section 409A. Notwithstanding any provision of the Plan to the contrary, (i) the Plan will be interpreted, operated and
administered in a manner consistent with such intention, and (ii) if a Participant is a “specified employee” within
the meaning of Section 409A at the time of his or her Termination, then to the extent necessary to avoid subjecting the Participant
to the imposition of any additional tax or interest under Section 409A, amounts that would (but for this provision) be payable
within six months following the date of the Participant’s Termination of employment shall not be paid to the Participant
during such period, but shall instead be paid in a lump sum on the first business day of the seventh month following the date of
the Participant’s Termination or, if earlier, upon the Participant’s death. Moreover, the Plan will be deemed to be
amended, and any deferrals and distribution elections hereunder shall be deemed to be modified, to the extent the Administrator
determines to be necessary and effective to comply with the requirements of Code Section 409A and to avoid or mitigate the imposition
of additional taxes under Code Section 409A, while preserving to the maximum extent possible the essential economics of the Participants'
rights under the Plan.

 

 *        *        *

 

    	Pacira BioSciences, Inc.
Deferred Compensation Plan
	Page 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}]]