Document:

DC10724.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing

	
Execution Copy

This Agreement must be executed and delivered to the Company (Attn: Philip K. Yachmetz, Senior Vice President & General Counsel) on or before June 21, 2011, but not prior to May 30, 2011.

SEPARATION AND GENERAL RELEASE AGREEMENT

     This Separation and General Release Agreement (the "Agreement") is entered into between PAUL R.
HAMELIN, with an address at 2998 South Lake Leelanau Road, Lake Leelanau, Michigan 49653 ("Executive") and SAVIENT PHARMACEUTICALS, INC., a Delaware corporation
with an address at One Tower Center, 14th Floor, East Brunswick, New Jersey 08816 (the “Company”). The Company, together with its past, present and future parent entities,
subsidiaries, affiliated entities, related companies and divisions and each of the respective past, present and future officers, directors, employees, shareholders, members, partners, trustees, employee benefit plans (and such plans' fiduciaries,
agents, administrators and insurers), attorneys, and agents (individually and in their official capacities), as well as any predecessors, future successors or assigns or estates of any of the foregoing, is collectively referred to in this Agreement
as the "Released Parties."

	
RECITALS:

     A. The Company and Executive entered into an employment agreement, effective as of May 23, 2006 (the "Original Employment Agreement").  The
Original Employment Agreement was amended by separate amendments to employment agreement by and between the Company and Executive, effective as of February 15, 2008 and December 19, 2008 (the "Employment Agreement
Amendment", or individually the “First Employment Agreement Amendment” and “Second Employment Agreement Amendment”, respectively). The Original Employment Agreement, as amended by the Employment
Agreement Amendment, shall be referred to in this Agreement as the "Employment Agreement." Capitalized terms used in this Agreement and not otherwise defined in this Agreement shall have the
meanings ascribed to them in the Employment Agreement. This Agreement is first presented to Executive on April 1, 2011.

     B. The Board of Directors of the Company (the "Board") and Executive have mutually agreed and determined that Executive shall separate from
his position as the Company's President and from his employment with the Company, effective May 30, 2011.

     C.  Notwithstanding the mutual agreement between the Company and Executive regarding his separation from his employment with the Company, the Company has agreed to treat the Executive's separation
from employment, for purposes of advance notice of termination and Severance Benefits, as an involuntary termination by the Company without Cause pursuant to Section 7.4 of the Employment Agreement; provided, however, as a condition to Executive's
receipt of the payments and benefits set forth in Sections 7.4(b)(1)-(3) of the Employment Agreement and Section 2 hereof, Executive is required to (i) execute, deliver (within the time frames provided), and not revoke this Agreement, and (ii)
complete, to the satisfaction of the Company, the transition of Executive’s duties and responsibilities and assistance as specified in Section 1(B).

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     D. Accordingly, pursuant to a Notice of Termination dated April 1, 2011 (the "Notice Date"), the Company invoked Section 7.4 of the
Employment Agreement and terminated Executive's employment with the Company without Cause, effective May 30, 2011.

     E. The Executive has requested, after conferring with his legal counsel, that the severance payments described herein not be subject to the "six month delay" applicable to "specified employees" as
described in Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), and accordingly that such severance payments to be paid to the Executive hereunder should commence as described herein and without the imposition of an
"additional tax" under such Section 409A.

     F. Each of the parties hereto believes it to be in their respective best interests to enter into an agreement to set forth the terms of their respective rights and obligations relating to the
Executive's separation from the Company. 

In consideration of the foregoing premises, the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto,
intending to be legally bound, hereby agree as follows:

	
1.      		
Separation of Employment; Termination of Employment Agreement; Transition Period. (A) Effective as of the close of business on May 30, 2011 (the "Effective Date
of	
	 

Termination"), Executive's employment with the Company will terminate. Accordingly, Executive acknowledges and understands that the Employment Agreement and his employment with the Company under
the Employment Agreement or otherwise will automatically terminate on the Effective Date of Termination and that his last day of employment with the Company will be the Effective Date of Termination. Executive understands and agrees that,
notwithstanding the termination of the Employment Agreement and Executive's employment with the Company, Executive's obligations pursuant to Article 13 (Confidentiality and Non-Competition) of the Employment Agreement (as so renumbered pursuant to
the First Employment Agreement Amendment) shall survive such termination and remain in full force and effect (the "Surviving Employment Agreement Provisions").  Executive acknowledges and
agrees that, except as otherwise specifically provided in this Agreement, Executive has received all compensation and benefits to which Executive is entitled under the Employment Agreement or otherwise as a result of Executive's employment with the
Company. Executive understands that, except as otherwise specifically provided in this Agreement, Executive is entitled to nothing further from any of the Released Parties, including reinstatement by the Company.  The Company and the Executive
hereby agree that Section 9.1(e) of the Employment Agreement Amendment is hereby terminated and of no further force or effect, and the Company and the Executive further agree that in the event that it is determined that any payment made or benefit
provided to the Executive hereunder is subject to an "additional tax" or penalty under Section 409A of the Code, then notwithstanding any provision of this Agreement, the Employment Agreement, or any other agreement between the parties, such taxes,
penalties and other related amounts shall be the sole liability and obligation of the Executive.

     (B) The Company and Executive hereby agree that for the period leading up to the Effective Date of Termination, Executive shall continue to act as the President of Company reporting to and under the
direction of the Chief Executive Officer of the Company and shall

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devote substantially his full time, attention and energies to (i) the transition of the Company’s business to John H. Johnson, Chief Executive Officer of the Company (the “CEO”) and other employees of the Company as
he may designate, and (ii) assisting with the Company’s commercial launch plans for KRYSTEXXA, as directed by and in collaboration with the Chief Executive Officer (the “Transition Services”).  Executive’s receipt of the
Post-Termination Payments and Benefits provided for under Section 2 hereof is expressly conditioned upon his satisfactorily completing and performing such Transition Services as determined in the sole discretion of the Company and the CEO.

	
2.      		
Post-Termination Payments and Benefits	
	 
	 	
(A) Pursuant to Section 7.4 of the Employment Agreement and by mutual agreement	
	 

between the Company and Executive, the Company shall provide Executive with the following:

     (i) as additional consideration for, and subject to, Executive's execution, delivery, and non-revocation of this Agreement:

     (a) in accordance with Sections 7.4(b)(1) and 7.4(b)(2) of the Employment Agreement, cash payments in the aggregate amount of $1,284,050 (less applicable withholdings and customary payroll
deductions, excluding 401(k) contributions) (the "Severance Amount"). The Severance Amount shall be payable to the Executive as follows: 

     (1) an aggregate amount equal to $1,239,050.00 (the "Severance Installments") shall be paid in thirty-six (36) semi-monthly installments,
of $34,418.06 each (less applicable withholdings and other customary payroll deductions, excluding 401(k) contributions), payable on the 15th and 30th days of each calendar month commencing immediately following the effectiveness of this
Agreement; and 

     (2) an amount equal to $45,000 (less applicable withholdings and customary payroll deductions, excluding 401(k) contributions), payable in a lump sum on May 31, 2012; 

     (b) continuation of welfare benefits of medical, dental, and life insurance coverage for a period of eighteen (18) months following the Effective Date of Termination, in accordance with, and subject
to the terms, conditions, and limitations set forth in, Section 7.4(b)(3) of the Employment Agreement, which continuation of coverage shall satisfy Executive's rights under COBRA;

     (ii) (a) Notwithstanding anything to the contrary in any equity compensation plan or stock option award agreement and Section 7.4(b)(4) of the Employment Agreement, (1) the vesting of 37,500 shares of
stock options previously granted to you and now scheduled to vest on December 19, 2011 will be accelerated and will vest upon the Effective Date of Termination, and (2) your stock options vested as of the Effective Date of Termination will remain
exercisable until November 30, 2011, after which they will cease to be exercisable. (b) Except as set forth in Section 2(A)(ii)(a) immediately above, any equity awards granted to Executive by the Company prior to the Effective Date of Termination
will be governed as set forth in the respective equity compensation plans and award agreements;

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     (iii)  in accordance with Section 7.4(b)(5) of the Employment Agreement, Executive's Base Salary that was earned (but not yet paid) through the Effective Date of Termination, together with payment for
Executive's twenty (20) accrued, but unused, vacation days through the Effective Date of Termination, if any, shall be paid to Executive on the next regular paydate following the Effective Date of Termination; and

     (iv) all other benefits (excluding severance plans, policies and programs, if any) to which Executive has a vested right as of the Effective Date of termination shall be paid and/or provided in
accordance with the terms of such applicable plans or programs.

     (B)  In accordance with Article 14 (Outplacement Assistance) of the Employment Agreement (as so renumbered pursuant to the Employment Agreement Amendment), the Company shall reimburse Executive for
the costs of all outplacement services obtained by Executive within the one (1) year period after the Effective Date of Termination, which reimbursement shall be made no later than May 31, 2011; provided, however, that the maximum aggregate amount
of such reimbursement shall not exceed $42,100.00.

Notwithstanding anything contained in this Section 2 to the contrary, Executive shall not be entitled to the payments or benefits set forth in Section 2(A)(i), 2(A)(ii) and 2(B) of this Agreement if Executive's employment is
terminated by the Company for Cause prior to the Effective Date of Termination. Further, Executive's entitlement to the payments and benefits set forth in Section 2(A)(i) of this Agreement shall be subject to Executive's execution, delivery, and
non-revocation of this Agreement in accordance with the terms provided herein and therein.

Executive acknowledges and agrees that the payments and benefits set forth in this Section 2 shall fully satisfy any and all obligations of the Company pursuant to Sections 7.4 and 14.1 of the Employment Agreement or otherwise in
connection with the termination of Executive's employment with the Company without Cause.

	
3.      		
General Releases.	
	 
	 	
(A) Executive General Release of Released Parties. In consideration of the release by	
	 

the Company set forth in Section 3(B) of this Agreement below, and the Company’s covenant not to sue the Executive set forth in Section 4(B) of this Agreement below, Executive hereby unconditionally and irrevocably releases,
waives, discharges, and gives up, to the full extent permitted by law, any and all Claims (as defined below) that Executive may have against any of the Released Parties, arising on or prior to the date of Executive's execution and delivery of this
Agreement to the Company.  “Claims” means any and all actions, charges, controversies, demands, causes of action, suits, rights, and/or claims whatsoever for debts, sums of money,
wages, salary, severance pay, commissions, bonuses, unvested stock options, vacation pay, sick pay, fees and costs, attorneys fees, losses, penalties, damages, including damages for pain and suffering and emotional harm, arising, directly or
indirectly, out of any promise, agreement (including, without limitation, the Employment Agreement), offer letter, contract, understanding, common law, tort, the laws, statutes, and/or regulations of the States of New Jersey, Delaware or any other
state and the United States, including, but not limited to, federal and state whistleblower laws, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Family and Medical Leave Act, the Equal Pay Act, the Americans with
Disabilities Act, the Employee Retirement Income Security Act (excluding COBRA), the Vietnam Era Veterans

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Readjustment Assistance Act, the Fair Credit Reporting Act, the Age Discrimination in Employment Act ("ADEA"), the Older Workers’ Benefit Protection Act, the
Occupational Safety and Health Act, the Sarbanes-Oxley Act of 2002, the New Jersey Law Against Discrimination, the New Jersey Family Leave Act, the New Jersey Civil Rights Act, the New Jersey Conscientious Employee Protection Act, the Michigan Civil
Rights Act, the Michigan Persons with Disabilities Civil Rights Act, the Michigan Polygraph Protection Act, the Michigan Whistleblowers' Protection Act, the Michigan Clean Indoor Air Act, the Michigan Military Discrimination Law, the Michigan
Occupational Health and Safety Act, the Michigan Juror Protection Law and the Michigan Veterans' Preference Act, as each may be amended from time to time, whether arising directly or indirectly from any act or omission, whether intentional or
unintentional. This Section 4(A) releases all Claims including those of which Executive is not aware and those not mentioned in this Agreement. Executive specifically releases any and all Claims arising out of the Employment Agreement or the
termination thereof and Executive’s employment with Company or separation therefrom.  Executive expressly acknowledges and agrees that, by entering into this Agreement, Executive is releasing and waiving any and all Claims, including, without
limitation, Claims that Executive may having arising under ADEA, which have arisen on or before the date of Executive’s execution and delivery of this Agreement to Company. Notwithstanding the foregoing, nothing in this Section 4(A) shall be
deemed to release the Company from its obligations arising under this Agreement or the Indemnity Agreement between the Company and Executive dated February 15, 2006 (the "Indemnity Agreement') or any of the Executive's existing rights under the Company's charter or by-laws.

     (B) Company's General Release of Executive. Except as otherwise specifically set forth in this Agreement, in consideration of the release by
Executive set forth in Section 3(A) of this Agreement above and the Executive’s covenant not to sue the Released Parties set forth in Section 4(A) of this Agreement above, the Company hereby irrevocably releases, waives, discharges and gives
up, to the full extent permitted by law, any and all Company Claims (as defined below) that the Company may have against Executive arising on or prior to the date of the Company's execution and delivery of this Agreement to the Executive
“Company Claims” means any and all actions, charges, controversies, demands, causes of action, suits, rights, and/or claims whatsoever for debts, sums of money, fees and costs,
attorneys' fees, losses, penalties, damages, including damages arising, directly or indirectly, out of any promise, agreement, contract, understanding, common law, tort, the laws, statutes and/or regulations of the States of New Jersey, Delaware or
any other state and the United States that the Company may have against Executive, whether arising directly or indirectly from any act or omission, whether intentional or unintentional, including, without limitation, claims arising out of (i) the
Employment Agreement and/or the termination of the Employment Agreement or otherwise arising out of Executive’s employment with the Company or separation of Executive’s employment with the Company; or (ii) Executive’s position as an
officer and/or member of any committee of the Company or any of its affiliates or Executive’s termination from such positions.  Except as otherwise specifically set forth in this Section 3(B), this Section 3(B) releases all Company Claims
including those of which the Company is not aware and those not mentioned in this Agreement. Notwithstanding the foregoing, nothing in this Section 3(B) shall be deemed to release Executive from Company Claims that relate to (i) the obligations of
Executive under this Agreement, (ii) the obligations of Executive pursuant to the Surviving Employment Agreement Provisions or the Confidentiality Agreement, or (iii) any and all actions and claims by the Company against Executive for contribution
and/or indemnification of any action or claim brought by any third party person arising out of Executive's acts or omissions

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while employed by the Company, unless such action and/or claim by the Company for contribution and/or indemnification is precluded by the Indemnification Agreement or the Company's charter or by-laws.

Executive acknowledges that Executive is not otherwise entitled to receive the release of Company Claims set forth in this Section 3(B) or the Company’s covenant not to sue Executive set forth in Section 4(B) above and
acknowledges that nothing in this Agreement shall be deemed to be an admission of liability on the part of any of the Released Parties.  Executive agrees that Executive will not seek anything further from any of the Released Parties.

	
4.      		
Representations; Covenant Not to Sue.	
	 
	 	
(A) Executive hereby represents and warrants to the Released Parties that Executive has	
	 

not: (i) filed, caused or permitted to be filed any pending proceeding (nor has Executive lodged a complaint with any governmental or quasi-governmental authority) against any of the Released Parties, nor has Executive agreed to
do any of the foregoing; (ii) assigned, transferred, sold, encumbered, pledged, hypothecated, mortgaged, distributed, or otherwise disposed of or conveyed to any third party any right or Claim against any of the Released Parties that has been
released in this Agreement; or (ii) directly or indirectly assisted any third party in filing, causing or assisting to be filed, any Claim against any of the Released Parties. Except as set forth in Section 12 below,  Executive covenants and agrees
that he shall not encourage or solicit or voluntarily assist or participate in any way in the filing, reporting or prosecution by himself or any third party of a proceeding or Claim against any of the Released Parties. 

     (B) The Company hereby represents and warrants that the Company has not (i) filed, caused or permitted to be filed any pending proceeding (nor has the Company lodged a complaint with any governmental
or quasi-governmental authority) against Executive, nor has the Company agreed to do any of the foregoing, (ii) assigned, transferred, sold, encumbered, pledged, hypothecated, mortgaged, distributed, or otherwise disposed of or conveyed to any third
party any right or Company Claim against Executive which has been released in this Agreement, and (iii) directly or indirectly assisted any third party in filing, causing or assisting to be filed, any Company Claim against Executive.  Except as may
otherwise be required by law, the Company covenants and agrees that the Company shall not encourage or solicit or voluntarily assist or participate in any way in the filing, reporting or prosecution by itself or any third party of a proceeding or
Company Claim against Executive based upon or relating to any Company Claim released by the Company in this Agreement.

5. Who is Bound. The Company and Executive are bound by this Agreement. Anyone who succeeds to Executive's rights and responsibilities, such as the executors of
Executive's estate, is bound, and anyone who succeeds to the Company's rights and responsibilities, such as its successors and assigns, is also bound.

6. Cooperation With Investigations/Litigation. Executive agrees to reasonably cooperate in any Company investigations and/or litigation regarding events that occurred
during Executive’s tenure with the Company.  The Company will reimburse Executive for reasonable expenses Executive incurs in extending such cooperation, so long as Executive provides advance written notice of Executive’s request for
reimbursement and provides satisfactory documentation of the expenses.

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7. Non-Disparagement; Surviving Employment Provisions; Confidentiality Agreement; Confidentiality. 

     (A) Executive agrees not to make any defamatory or derogatory statements concerning any of the Released Parties. The Company agrees not to make any defamatory or derogatory statements concerning the
Executive.  Provided inquiries are directed to the Company's Human Resources Department, the Company shall disclose to prospective employers information limited to Executive's dates of employment and last position held by Executive.

     (B) Executive understands and agrees that the Surviving Employment Agreement Provisions and Executive's obligations pursuant to the Confidentiality Agreement survive the termination of the Employment
Agreement and Executive's employment with the Company and represents and warrants that he has at all times been in compliance with his obligations pursuant to the Surviving Employment Agreement Provisions and the Confidentiality Agreement. Executive
also agrees that the amounts paid to Executive and all of the other terms of this Agreement shall be kept confidential. Executive shall not reveal the amounts paid to Executive or the other terms of this Agreement to anyone, except to
Executive’s immediate family, legal and financial advisors and then only after securing the agreement of such individual to maintain the confidentiality of this Agreement, or in response to a subpoena or other legal process, after reasonable
notice has been provided to the Company sufficient to contest the disclosure.

8. Company Property.  Without limitation of Executive's obligations pursuant to the Surviving Employment Agreement Provisions and the Confidentiality Agreement, Executive
represents that he has returned all Company property in Executive’s possession, custody or control, including, but not limited to, all Company equipment, laptop computers, personal digital assistants, cell phones, pass codes, keys, swipe cards,
documents or other materials that Executive received, prepared, or helped prepare.  Executive represents that Executive has not retained any copies, duplicates, reproductions, computer disks, or excerpts thereof of Company’s
documents.

9. Remedies. If Executive breaches Section 4(A) of this Agreement, or takes any action that violates or is inconsistent with the release of claims in favor of the Company
set forth in Section 3(A), it shall constitute a material breach of this Agreement and, in addition to and not instead of the Released Parties’ other remedies hereunder or otherwise at law or in equity, then (i) the release of Company Claims
set forth in Section 3(B) of this Agreement above and the Company's covenant not to sue Executive set forth in Section 4(B) of this Agreement above shall automatically be rescinded and of no further force and effect and (ii) no further payments
under Section 2(A)(i) hereunder shall be made to the Executive. The foregoing shall not be deemed to limit or preclude the Company from enforcing any other term or provision of this Agreement, or the terms of the Surviving Employment Agreement
Provisions or the Confidentiality Agreement, in each case in accordance with the terms of such agreements or under applicable law. If the Company breaches Section 4(B) of this Agreement, it shall constitute a material breach of this Agreement and,
in addition to and not instead of the Executive’s other remedies hereunder, or otherwise at law or in equity, the release of Claims set forth in Section 3(A) of this Agreement above and the Executive’s covenant not to sue the Company set
forth in Section 4(A) of this Agreement above shall automatically be rescinded and of no further force and effect.

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10. Construction of Agreement. In the event that one or more of the provisions contained in this Agreement, the Surviving Employment Agreement Provisions, or the
Confidentiality Agreement shall for any reason be held unenforceable in any respect under the law of any state of the United States or the United States, such unenforceability shall not affect any other provision of this Agreement, the Surviving
Employment Agreement Provisions or the Confidentiality Agreement, but this Agreement, the Surviving Employment Agreement Provisions and the Confidentiality Agreement shall then be construed as if such unenforceable provision or provisions had never
been contained herein or therein. If it is ever held that any restriction hereunder, under the Surviving Employment Agreement Provisions or under the Confidentiality Agreement is too broad to permit enforcement of such restriction to its fullest
extent, such restriction shall be enforced to the maximum extent permitted by applicable law. This Agreement, the Surviving Employment Agreement Provisions, the Confidentiality Agreement and any and all matters arising directly or indirectly
herefrom or therefrom shall be governed under the laws of the State of New Jersey, without reference to choice of law rules. The Company and Executive consent to the sole jurisdiction of the federal and state courts of New Jersey.  THE COMPANY AND EXECUTIVE HEREBY WAIVE THEIR RESPECTIVE RIGHT TO TRIAL BY JURY IN ANY ACTION CONCERNING THIS AGREEMENT OR ANY AND ALL MATTERS ARISING DIRECTLY OR INDIRECTLY HEREFROM AND REPRESENT THAT THEY HAVE CONSULTED WITH COUNSEL OF
THEIR CHOICE OR HAVE CHOSEN VOLUNTARILY NOT TO DO SO SPECIFICALLY WITH RESPECT TO THIS WAIVER.

	
11.      		
Acknowledgments. The Company and Executive acknowledge and agree that:	
	 
	 	
(A) By entering in this Agreement, Executive does not waive any rights or Claims that	
	 

may arise after the date that Executive executes and delivers this Agreement to Company;

     (B)  This Agreement shall not affect the rights and responsibilities of the Equal Employment Opportunity Commission (the “EEOC”) or
similar state agency to enforce applicable laws, and further acknowledge and agree that this Agreement shall not be used to justify interfering with Executive’s protected right to file a charge or participate in an investigation or proceeding
conducted by the EEOC or similar state agency.  Accordingly, nothing in this Agreement shall preclude Executive from filing a charge with, or participating in any manner in an investigation, hearing or proceeding conducted by, the EEOC or similar
state agency, but Executive hereby waives any and all rights to recover under, or by virtue of, any such investigation, hearing or proceeding; 

     (C) Notwithstanding anything set forth in this Agreement to the contrary, nothing in this Agreement shall affect or be used to interfere with Executive’s protected right to test in any court,
under the Older Workers’ Benefit Protection Act, or like statute or regulation, the validity of the waiver of rights under ADEA set forth in this Agreement; and

     (D)  Nothing in this Agreement shall preclude Executive from exercising Executive’s rights, if any (i) under Section 601-608 of the Employee Retirement Income Security Act of 1974, as amended,
popularly known as COBRA, (ii) Company’s 401(k) plan; or (iii) the Company's 2004 Incentive Plan.

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12.      		
Opportunity for Review.	
	 
	 	
(A) Executive represents and warrants that Executive: (i) has had sufficient	
	 

opportunity to consider this Agreement; (ii) has read this Agreement; (iii) understands all the terms and conditions hereof; (iv) is not incompetent or had a guardian, conservator or trustee appointed for Executive; (v) has
entered into this Agreement of Executive’s own free will and volition; (vi) has duly executed and delivered this Agreement; (vii) understands that Executive is responsible for Executive’s own attorney’s fees and costs; (viii) has had
the opportunity to review this Agreement with counsel of Executive’s choice or has chosen voluntarily not to do so; (ix) understands the Executive has been given twenty-one (21) days to review this Agreement before signing this Agreement and
understands that he is free to use as much or as little of the 21-day period as he wishes or considers necessary before deciding to sign this Agreement; (x) understands that if Executive does not sign and return this Agreement to the Company (Attn:
Philip K. Yachmetz, Senior Vice President & General Counsel) on or before June 21, 2011 the Company shall have no obligation to enter into this Agreement, Executive shall not be entitled to the payments set forth in Section 3(A)(i) of this
Agreement, the release of Company Claims set forth in Section 4(B) of this Agreement or the Company's covenant not to sue Executive pursuant to Section 5(B) of this Agreement, and the Effective Date of Termination shall be unaltered; and (xi)
understands that this Agreement is valid, binding and enforceable against the parties to this Agreement in accordance with its terms.

     (B) This Agreement shall be effective and enforceable on the eighth (8th) day after execution and delivery to the Company (Attn: Philip
K. Yachmetz, Senior Vice President & General Counsel) by Executive.  The parties to this Agreement understand and agree that Executive may revoke this Agreement after having executed and delivered it to Company by so advising Company (Attn:
Philip K. Yachmetz, Senior Vice President & General Counsel) in writing no later than 11:59 p.m. on the seventh (7th) day after Executive’s execution and delivery of this
Agreement to the Company. If Executive revokes this Agreement, it shall not be effective or enforceable, Executive shall not be entitled to the payments set forth in Section 3(A)(i) of this Agreement, the release of Company Claims set forth in
Section 4(B) of this Agreement or the Company's covenant not to sue Executive pursuant to Section 5(B) of this Agreement, and the Effective Date of Termination shall be unaltered.

Agreed to and accepted by, on this 30th day of May, 2011.

	
Witness:

	
/s/

	
EXECUTIVE:

/s/ Paul R. Hamelin

Paul R. Hamelin

Agreed to and accepted by, on this 30th day of May, 2011.

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SAVIENT PHARMACEUTICALS, INC.

	
/s/ John H. Johnson

John H. Johnson

10Form of December 2007 Warrant

 Exhibit 4.1 
 WARRANT 
 AMARIN CORPORATION PLC 

WARRANT TO PURCHASE ORDINARY SHARES 
  

			
	No. W-    	 	December 6, 2007

 Void
After December 5, 2012 
 THIS CERTIFIES THAT, for value received,
                     (the “Holder”), is entitled to subscribe for and purchase at the Exercise Price (defined below) from
Amarin Corporation plc, a public limited company organized under the laws of England and Wales, with its principal office at 7 Curzon Street, London, W1J 5HG, United Kingdom (the “Company”), up to
                     ordinary shares, par value £0.05 per share, of the Company (the “Ordinary Shares”), each
Ordinary Share represented by one American Depositary Share (an “ADS”), of the Company, subject to adjustment as provided herein. This warrant (the “Warrant”) is being issued pursuant to the terms of the Purchase
Agreement, dated as of December 4, 2007, by and between the Holder and the Company (the “Purchase Agreement”). Capitalized terms not otherwise defined herein shall have the respective meanings ascribed to such terms in the
Purchase Agreement. 
 1. DEFINITIONS. As used herein, the following terms shall have the following respective meanings:

 (a) “Exercise Period” shall mean the period commencing on the date hereof and ending on
December 5, 2012, unless sooner terminated as provided below. 
 (b) “Exercise Price” shall
mean U.S.$0.48 per Ordinary Share, subject to adjustment as provided in Section 4 below. 
 (c)
“Exercise Shares” shall mean the Ordinary Shares, each Ordinary Share represented by one ADS, of the Company, issued upon exercise of this Warrant, subject to adjustment and limitation pursuant to the terms herein, including but not
limited to Sections 4 and 5 below. 
 (d) “VWAP” shall mean, for any date, the price
determined by the first of the following clauses that applies: (i) if the Ordinary Shares in the form of ADSs are then listed on The NASDAQ Capital Market or another national securities exchange (a “Trading Market”), the daily
volume weighted average price of the ADSs for such date (or the nearest preceding trading date) on the Trading Market on which the ADSs are then listed, as reported by Bloomberg Financial LP; (b) if the ADSs are not then listed on a Trading
Market and if prices for the ADSs are then quoted on the OTC Bulletin Board, the volume weighted average price of the ADSs for such date (or the nearest preceding trading date) on the OTC Bulletin Board; and (c) if the ADSs are not then listed
on the OTC Bulletin Board and if prices for the ADSs are then reported on the “Pink Sheets” published by the Pink Sheets LLC (or similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
share of the ADSs so reported; or (d) in all other cases, the fair market value of an ADS as determined by an independent appraiser selected in good faith by the Company. 

  
 1 

 2. EXERCISE OF WARRANT. 

2.1 Method of Exercise. The rights represented by this Warrant may be exercised in whole or, subject to Section 2.2 hereof,
in part at any time during the Exercise Period, by delivery of the following to the Company at its address set forth above (or at such other address as it may designate by notice in writing to the Holder): 

(a) An executed Notice of Exercise in the form attached hereto; 

(b) Payment of the Exercise Price by wire transfer of immediately available funds; 

(c) This Warrant (together with each duly completed Assignment Form in respect of each assignment of this Warrant, if any,
subsequent to the date hereof); and 
 (d) All other documentation required by the transfer agent in the ordinary
course of its business. 
 (e) Upon the exercise of the rights represented by this Warrant, ADSs shall be issued
for the Exercise Shares so purchased, and shall be registered in the name of the Holder or persons affiliated with the Holder, if the Holder so designates, within three (3) Trading Days after the rights represented by this Warrant shall have
been so exercised and shall be issued and delivered to the Holder through the book-entry facilities of The Depository Trust Company, unless the Holder specifies otherwise, in either case registered for issuance by the Company in the United States
and without any restrictive legend thereon. The Exercise Price includes costs of exercise and issuance, such as any stamp duty or stamp duty reserve tax with respect thereto or any other cost incurred by the Company in connection with the exercise
of this Warrant and the related issuance of Exercise Shares. The Company shall compensate the Holder for any and all losses occasioned by any “buy-in” caused by the Company’s late delivery of ADSs for the Exercise Shares within 5
Trading Days of demand therefor, accompanied by written evidence of the amount of such loss. 
 2.2 Partial Exercise.
This Warrant may be exercised in part; provided that no exercise of this Warrant maybe in respect of less than 20,000 Exercise Shares; provided, however, that if this Warrant is, upon issuance, exercisable for less than 20,000
Exercise Shares, this Warrant may be exercised in whole but not in part. If this Warrant is exercised in part only, the Company shall, upon surrender of this Warrant, execute and deliver, within 10 days after the date of exercise, a new Warrant
evidencing the rights of the Holder, or such other person as shall be designated in the Notice of Exercise, to purchase the balance of the Exercise Shares purchasable hereunder. For clarity, if the Holder wishes to exercise a further portion of this
Warrant while such replacement Warrant has not yet been received by such Holder, then the Holder may submit a further Notice of Exercise and payment of the Exercise Price to the Company as provided in Section 2.1, and such delivery shall
constitute valid exercise of this Warrant for the number of Exercise Shares set forth in such Notice of Exercise. In no event shall this Warrant be exercised in part if, after giving effect to such exercise, the remaining number of Exercise Shares
in respect of such new Warrant would be less than 20,000. In no event shall this Warrant be exercised for a fractional Exercise Share, and the Company shall not distribute a Warrant exercisable for a fractional Exercise Share. Fractional Exercise
Shares shall be treated as provided in Section 5 hereof. 

  
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 2.3 Call Right. 

(a) Subject to the provisions of this Section 2.3, if, at any time after December 5, 2009, the VWAP of the ADSs
on the Company’s Trading Market for any 20 consecutive trading day period (the “Threshold Period”) is equal to or greater than U.S.$0.915, as adjusted for any stock split, reverse stock split, stock dividend, subdivision,
split-up, combination of shares or other transaction having similar effect (the “Threshold Price”), and through and including the Cancellation Date, the ADSs do not trade below the Exercise Price, then the Company at any time
thereafter shall have the right, but not the obligation, within ten (10) Trading Days of the end of any Threshold Period, (the “Call Right”), on not less than 20 days’ prior written notice to the Holder, to cancel all, but
not less than all, of the unexercised portion of this Warrant for which a Notice of Exercise has not yet been delivered prior to the Cancellation Date (as defined below). 

(b) To exercise the Call Right, the Company shall deliver to the Holder an irrevocable written notice thereof (a
“Call Notice”). The date that the Company delivers the Call Notice to the Holder shall be referred to as the “Call Date”. Within 20 days after receipt of the Call Notice, the Holder may exercise this Warrant in
whole or in part, subject to the terms hereof, as set forth in herein. Any portion of this Warrant that is not exercised by 5:30 p.m. (New York City time) on the 20th day following the date of receipt of the Call Notice (the “Cancellation
Date”) shall be cancelled. 
 (c) Notwithstanding anything to the contrary set forth in this Warrant,
unless waived in writing by the Holder, the Company may not deliver a Call Notice or require the cancellation of any unexercised portion of this Warrant (and any Call Notice will be void) unless from the Call Date through the Cancellation Date (the
“Call Period”) the Registration Statement shall be effective as to the issuance of all of the Exercise Shares to be issued to the Holder upon exercise of the Warrant. 

3. COVENANTS OF THE COMPANY. 
 3.1 Covenants as to Exercise Shares. The Company covenants and agrees that all Exercise Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance, be
duly authorized, validly issued, fully paid, non-assessable and free from all preemptive or similar rights, taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that the Company will at all times
during the Exercise Period, have sufficient authorized share capital to provide for the exercise of the rights represented by this Warrant. If at any time during the Exercise Period the authorized share capital shall not be sufficient to permit
exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued share capital (or other securities as provided herein) to such amount as shall be
sufficient for such purposes. 
 3.2 No Impairment. Except and to the extent as waived or consented to by the Holder in
writing or otherwise in accordance with Section 11 hereof, the Company will not, by amendment of its Memorandum and Articles of Association (as such may be amended from time to time), or through any means, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all commercially reasonable actions as
may be necessary in order to protect the exercise rights of the Holder against impairment. 

  
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 3.3 Notices of Record Date. In the event of any taking by the Company of a record of
the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, the Company shall mail to the Holder, where practicable, at least ten (10) days prior to
the date specified therein, a notice specifying the date on which any such record is to be taken for the purpose of such dividend or distribution; provided that the failure to mail such notice or any defect therein or in the mailing thereof
shall not adversely affect the validity of the dividend or distribution required to be specified in such notice. 
 4.
ADJUSTMENT OF EXERCISE PRICE. 
 4.1 In the event of changes in the outstanding Ordinary Shares of the Company, on or
after the date hereof, by reason of a stock split, reverse stock split, stock dividend, subdivision, split-up, combination of shares or other transaction having similar effect, the number of shares purchasable under the Warrant in the aggregate and
the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the same aggregate Exercise Price, the total number of shares as the Holder would have owned had the Warrant been exercised prior to the event
requiring adjustment and had the Holder continued to hold such shares until after such event. The form of this Warrant need not be changed because of any adjustment in the Exercise Price and/or number of shares subject to this Warrant. The Company
shall promptly provide a certificate from the Company notifying the Holder in writing of any adjustment in the Exercise Price and/or the total number of shares issuable upon exercise of this Warrant, which certificate shall describe the event giving
rise to the adjustment and specify the Exercise Price and number of shares purchasable under this Warrant after giving effect to such adjustment. 
 4.2 If, for any reason, prior to the exercise of the Warrant in full, the Company spins off or otherwise divests itself of a part of its business or operations or disposes all or a part of its assets (the
“Spin Off”), in each case in a transaction in which the Company does not receive compensation for such business, operations or assets, but causes securities of another entity (the “Spin Off Securities”) to be issued
to security holders of the Company, then the Exercise Price of the outstanding Warrant shall be adjusted immediately after consummation of the Spin Off by multiplying the Exercise Price in effect immediately prior to the Spin Off by a fraction (if,
but only if, such fraction is less than 1.0), the numerator of which is the average closing bid price of the ADSs for the five trading days immediately following the fifth trading day after the record date (the “Record Date”) for
determining the amount and number of Spin Off Securities to be issued to security holders of the Company, and the denominator of which is the average closing bid price of the ADSs for the five trading days immediately preceding the Record Date; and
such adjusted Exercise Price shall be deemed to be the Exercise Price with respect to the outstanding Warrant after the consummation of the Spin Off. 
 4.3 If, at any time prior to December 6, 2009, the Company issues Ordinary Shares, securities convertible into ADSs or Ordinary Shares, warrants to purchase ADSs or Ordinary Shares or options to
purchase any of the foregoing to a third party (other than any Exempt Issuance) at a price that is less than, or converts at a price that is less than, $0.366 (such lesser price, the “Down-round Price”), then the Exercise Price
shall be adjusted to equal 130% of the Down-round Price. “Exempt Issuance” means the issuance of (a) Ordinary Shares or options to employees, officers or directors of the Company pursuant to any stock or option plan duly
adopted for such purpose, by a majority of the non-employee members of the board of directors of the Company or a majority of the members of a committee of non-employee directors established for such purpose, (b) securities upon the exercise or
exchange of or conversion of any securities issued under the Purchase Agreement and/or other securities exercisable or exchangeable for or convertible into Ordinary Shares issued and outstanding on the date of the Purchase Agreement, provided that
such securities have not been amended since the date of the Purchase Agreement to increase the number of such securities or to decrease the exercise, exchange or conversion price of such securities, (c) warrants to purchase

  
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10,000 Ordinary Shares issued or to be issued to Dan Fischer and shares of Common Stock upon exercise thereof, (d) Ordinary Shares in connection with the acquisition by the Company of Ester
Neurosciences Ltd., an Israeli company, pursuant to the definitive agreement relating thereto, and payment of related fees, (f) the convertible debt and equity financings concurrently being offered by the Company as described in the Prospectus
Supplement dated December 5, 2007, and (g) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that any such issuance shall only be to a Person
which is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Company and in which the Company receives benefits in addition to the investment of funds, but shall not include a transaction in
which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities. 
 5. FRACTIONAL SHARES. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant hereto. All Exercise Shares (including fractions) issuable
upon exercise of this Warrant may be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance of a fractional share, the
Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such fraction a sum in cash equal to the product resulting from multiplying the then current fair market value of an Exercise Share by such fraction.

 6. CERTAIN EVENTS. In the event of, at any time during the Exercise Period, any capital reorganization, or any
reclassification of the capital stock of the Company (other than a change in par value or from par value to no par value or no par value to par value or as a result of a stock split, reverse stock split, stock dividend, subdivision, split-up,
combination of shares or other transaction having similar effect), or the consolidation or merger of the Company with or into another corporation (other than a merger solely to effect a reincorporation of the Company into another state), in each
case, in which the shareholders of the Company immediately prior to such capital reorganization, reclassification, consolidation or merger, will hold less than a majority of the outstanding shares of the Company or resulting corporation immediately
after such capital reorganization, reclassification, consolidation or merger, or the sale or other disposition of all or substantially all of the properties and assets of the Company and its Subsidiaries, taken as a whole, in its entirety to any
other person, (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Exercise Share that would have been issuable upon such exercise immediately
prior to the occurrence of such Fundamental Transaction, the securities, property and/or any other consideration (the “Alternate Consideration”) receivable as a result of such merger, consolidation or disposition of assets by a
holder of the number of Exercise Shares for which this Warrant is exercisable immediately prior to such event. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one Common Share in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner
reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be
given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Company or surviving
entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions and evidencing the Holder’s right to exercise such warrant into Alternate Consideration. The terms of any agreement pursuant
to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to comply with the provisions of this Section 6 and insuring that this Warrant (or any such replacement security) will be
similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction that is (1)

  
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an all cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Securities Exchange Act of 1934, as amended, or (3) a Fundamental Transaction
involving a person or entity not traded on a national securities exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or the OTC Bulletin Board, the Company or any successor entity shall pay at the
Holder’s option, exercisable at any time concurrently with or within 30 days after the consummation of the Fundamental Transaction, an amount of cash equal to the value of this Warrant as determined in accordance with the Black Scholes Option
Pricing Model obtained from the “OV” function on Bloomberg L.P. using (i) a price per Common Share equal to the VWAP of the ADSs for the Trading Day immediately preceding the date of consummation of the applicable Fundamental
Transaction, (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of this Warrant as of the date of consummation of the applicable Fundamental Transaction and (iii) an expected
volatility equal to the 100 day volatility obtained from the “HVT” function on Bloomberg L.P. determined as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction. 

7. NO SHAREHOLDER RIGHTS. This Warrant in and of itself shall not entitle the Holder to any voting rights or other rights as a
shareholder of the Company. 
 8. TRANSFER OF WARRANT. This Warrant and all rights hereunder are transferable by the
Holder in person or by duly authorized attorney, upon delivery of this Warrant and the duly completed Assignment Form attached hereto to any authorized transferee designated by the Holder with a copy to the Company. 

9. LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this Warrant is lost, stolen, mutilated or destroyed, the Company may, on such
terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant so lost, stolen, mutilated or
destroyed. Any such new Warrant shall constitute an original contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone. 

10. MODIFICATION OR WAIVER. Unless otherwise provided herein, this Warrant and any provision hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the Company and the Holder. 
 11. NOTICES, ETC. All
notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed facsimile if sent during normal business hours of the
recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address listed on the signature page and to the Holders at the addresses on the Company records,
or at such other address as the Company or Holder may designate by ten days’ advance written notice to the other party hereto. 
 12. ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein and in the Purchase Agreement. 

13. GOVERNING LAW. This Warrant and all rights, obligations and liabilities hereunder shall be governed by the laws of England and
Wales without regard to the principles of conflict of laws. 

  
 6 

 14. DESCRIPTIVE HEADINGS. The descriptive headings of the several paragraphs of this
Warrant are inserted for convenience only and do not constitute a part of this Warrant. The language in this Warrant shall be construed as to its fair meaning without regard to which party drafted this Warrant. 

15. SEVERABILITY. The invalidity or unenforceability of any provision of this Warrant in any jurisdiction shall not affect the
validity or enforceability of such provision in any other jurisdiction, or affect any other provision of this Warrant, which shall remain in full force and effect. 
 16. ENTIRE AGREEMENT. This Warrant constitutes the entire agreement between the parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements,
representations, and undertakings of the parties, whether oral or written, with respect to such subject matter. 
 [Signature
Page Follows] 

  
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 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its duly
authorized officer as of December 4, 2007. 
  

			
	AMARIN CORPORATION PLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Address:	 	7 Curzon Street
		 	London W1J 5HG, England
		 	 Attention: Chief Financial Officer
 Facsimile: 44 20 7499 9004

  
 8

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