Document:

EX-10.24

 Exhibit 10.24 

 

			
	Type:	  	Non-Statutory Rollover Option
	Name:	  	[            ]
	Number of Shares of Common Stock of the Company subject to Rollover Option:	  	[            ]
	Price Per Share:	  	$0.25
	Date of Grant:	  	[            ]

 SKY GROWTH HOLDINGS CORPORATION 

2012 EQUITY INCENTIVE PLAN 

THIS AWARD AND ANY SECURITIES ISSUED UPON EXERCISE OF THIS AWARD ARE SUBJECT TO RESTRICTIONS ON VOTING AND TRANSFER AND REQUIREMENTS OF SALE AND OTHER
PROVISIONS AS SET FORTH IN THE MANAGEMENT STOCKHOLDERS’ AGREEMENT. 
 SKY GROWTH HOLDINGS CORPORATION STRONGLY ENCOURAGES YOU TO
SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL ADVISORS WITH RESPECT TO YOUR AWARD AND ITS TAX CONSEQUENCES. 

NON-STATUTORY ROLLOVER OPTION AGREEMENT

 This agreement (the “Agreement”) evidences a rollover stock option granted by Sky Growth Holdings
Corporation (the “Company”) to the optionee set forth above (the “Optionee” and together with the Company, the “Parties”), pursuant to and subject to the terms of the Sky Growth Holdings 2012 Equity
Incentive Plan, as amended from time to time (the “Plan”), which is incorporated herein by reference. Unless defined herein, all capitalized terms used herein have the meanings set forth in the Plan. 

WHEREAS, the Company owns all of the issued and outstanding stock of Sky Growth Acquisition Corporation, a Delaware corporation
(“Merger Sub”), and on July 14, 2012, the Company, Merger Sub and Par Pharmaceutical Companies, Inc. (“Par”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to
which Merger Sub will merge with and into Par (the “Merger”) on the terms and subject to the conditions set forth in the Merger Agreement; 
 WHEREAS, immediately prior to the Merger, the Optionee held certain options listed on Schedule I hereto, (the “Par Options”) that were granted pursuant to the Par Pharmaceuticals
Companies, Inc. 2004 Performance Equity Incentive Plan, (the “Par Plan”) to purchase shares of Par common stock, all of which became fully vested in connection with the Merger; 

WHEREAS, the Company has agreed to substitute options to acquire common stock, $0.001 par value per share, of the Company (the
“Common Stock”) on the terms hereinafter set forth (the “Rollover Option”) in exchange for the Par Options; and 

 WHEREAS, subject to the limitations contained in Rule 701 under the Securities Act of 1933,
as amended (the “Securities Act”), the issuance of the Rollover Option under this Agreement is intended to be exempt from the registration requirements of the Securities Act pursuant to Rule 701. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Treatment of Par Options.
Each Par Option previously entitling the Optionee to acquire shares of Par common stock on the terms set forth in such Par Option and the Par Plan is hereby exchanged for a Rollover Option to purchase, on the terms provided herein and in the Plan
(including, without limitation, the exercise provisions in Section 6(b)(3) of the Plan), the number of shares of Common Stock set forth across from such Rollover Option on Schedule II attached hereto with an exercise price per share of
Common Stock as set forth on Schedule II, in each case subject to adjustment pursuant to Section 7 of the Plan in respect of transactions occurring after the date hereof. The exchange of a Rollover Option for a Par Option is intended to
qualify as an option substitution under Treas. Reg. §1.409A-1(b)(5)(v)(D) and will be construed accordingly. Without limiting the foregoing, the Rollover Option will (i) be fully vested at all times; (ii) expire not later than the
latest date on which the corresponding Par Option would have expired; (iii) remain subject to the post-termination provisions applicable to the corresponding Par Option (including, without limitation, the provisions relating to the effect of a
termination for “Cause”); and (iv) be governed in all respects by the terms of the corresponding Par Option, except for (A) the number and type of shares of Common Stock subject to the Rollover Option, (B) the exercise price
of the Rollover Option, (C) the provisions of Section 7 of the Plan, (D) the provisions of the Plan applicable to governance, amendment, termination, administration, interpretation and similar matters, and (E) all other
provisions of the Plan that as applied to the Rollover Option would not be treated as inconsistent with satisfaction of the requirements of Treas. Reg. §1.409A-1(b)(5)(v)(D). The Rollover Option is a non-statutory option, granted to the
Optionee in connection with the Optionee’s Employment by the Company in substitution of a Par Option. 
 2.
Representations and Warranties of the Company. The Company represents and warrants to the Optionee that the statements in this Section 2 are true and correct as of the date of this Agreement. 

 

	 	(a)	Organization of the Company. The Company is a corporation duly organized and validly existing under the laws of the State of Delaware. 

 

	 	(b)	 Authorization, Execution and Delivery of the Agreement. The Company has the capacity, full corporate power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Company and constitutes the valid and legally binding obligation of the Company,
enforceable in accordance with 

  
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its terms and conditions. The Company need not give any notice to, make any filing with, or obtain any authorization, consent, or approval of any government or governmental agency in order to
consummate the transactions contemplated by this Agreement. 

  

	 	(c)	Valid Issuance of the Rollover Option. The shares of Common Stock issuable upon exercise of the Rollover Option that is being issued to the Optionee hereunder,
when issued in accordance with the terms hereof for the consideration expressed herein, will be validly issued, fully paid and nonassessable. 

 3. Representations and Warranties of the Optionee. The Optionee represents and warrants to the Company that the statements in this Section 3 are true and correct as of the date of this
Agreement. 
  

	 	(a)	Ownership of Par Securities. The Optionee holds the Par Options listed on Schedule I. Except for the provisions of the applicable Par Plan and any
transfer restrictions under applicable securities law, the Par Options are held free and clear of all mortgages, liens, licenses, pledges, charges, claims, security interests, encumbrances, agreements, rights of first refusal, options or
restrictions of any kind whatsoever (including, without limitation, restrictions on the right to sell or otherwise dispose of such Par Options) or other defects in title. 

 

	 	(b)	Authorization, Execution and Delivery of the Agreement. The Optionee has the capacity, full power and authority to execute and deliver this Agreement, to perform
the Optionee’s obligations hereunder, and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Optionee and constitutes the valid and legally binding obligation of the Optionee,
enforceable in accordance with its terms and conditions. The Optionee need not give any notice to, make any filing with, or obtain any authorization, consent, or approval of any government or governmental agency in order to consummate the
transactions contemplated by this Agreement. 

  

	 	(c)	Investment. The Optionee understands that the holding of the Rollover Option involves substantial risk. The Optionee understands that, following the effective
time of the Merger, Par, as the surviving corporation of the Merger, intends to file a Form 15 to deregister the Par common stock under the Securities Exchange Act of 1934, as amended, and suspend its duty to file periodic and current reports
thereunder. The Optionee is electing to receive the Rollover Option for his or her own account, for investment purposes only and not with a view to the distribution or public offering thereof in violation of the Securities Act, or any applicable
United States federal, state or foreign securities laws or regulations. 

  
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	 	(d)	No Registration. The Optionee has been advised that neither the Rollover Option nor the shares of Common Stock issuable upon exercise thereof are being
registered under the Securities Act, upon the basis that the transaction is exempt from such registration requirements pursuant to regulations promulgated by the Securities and Exchange Commission, and that reliance by the Company on such exemptions
are predicated in part on the Optionee’s representations set forth herein, and, as a result, no Rollover Option, or any shares issued upon exercise or distribution thereof, may be transferred, sold, offered for sale, pledged, hypothecated or
otherwise disposed of without registration under the Securities Act and any other provisions of applicable state securities laws or pursuant to an applicable exemption therefrom. The Optionee is aware that the Company is not under any obligation to
effect any such registration with respect to the Rollover Option or the shares of Common Stock issuable upon exercise thereof or to file for or comply with any exemption from registration. The Optionee further acknowledges that his or her rights and
interests under and with respect to the Rollover Option and the shares issued upon any exercise or distribution thereof will be subject to the terms and conditions of the Plan and the Management Stockholders’ Agreement and the Optionee will
have no further rights under the Par Options exchanged for such Rollover Option. The Optionee has such knowledge and experience in financial and business matters that the Optionee is capable of evaluating the merits and risks of such investment, is
able to incur a complete loss of such investment and is able to bear the economic risk of such investment for an indefinite period of time. The address of the Optionee is as set forth under the Optionee’s name on the signature page hereof.

  

	 	(e)	Disclosure. The Optionee is employed by Par or one of its subsidiaries. In connection with the Optionee’s exchange of Par Options for Rollover Options, Par
has made available to the Optionee a copy of Par’s proxy statement dated August 2, 2012 relating to the Merger together with a confidential information memorandum dated September 17, 2012 relating to the opportunity to invest in the
common stock of the Company and describing the equity securities of the Company and certain risks associated with investing in such securities, including the Rollover Option. The Optionee has been given access to all other information regarding the
financial condition and the proposed business and operations of the Company, Par and its subsidiaries that the Optionee has requested in order to evaluate its investment in the Company. The Company has made available to the Optionee the opportunity
to ask questions of, and to receive answers from, persons acting on behalf of the Company and Par concerning the terms and conditions of the Rollover Option, and to obtain any additional information desired by the Optionee with respect to the
Company, Par and its subsidiaries. 

  
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	 	(f)	No Other Representations or Warranties; Acknowledgments. No representations or warranties, oral or otherwise, have been made to the Optionee (or any party acting
on the Optionee’s behalf) in connection with the offer and issuance of the Rollover Option other than the representations and warranties specifically set forth in this Agreement. The Optionee has had an opportunity to consult an independent tax
and legal advisor and the Optionee’s decision to enter into this Agreement has been based solely upon the Optionee’s evaluation. The Optionee is aware that the Management Stockholders’ Agreement provides significant restrictions on
the Optionee’s ability to transfer or dispose of the Rollover Option and the shares of Common Stock issuable upon exercise thereof. 

 4. Exercise of Option. Each election to exercise the Rollover Option will be subject to the terms and conditions of the Plan and must be in writing, signed by the Optionee or by his or her executor
or administrator or by the Person or Persons to whom the Rollover Option is transferred by will or the applicable laws of descent and distribution. Each such written exercise election must be received by the Company at its principal office or by
such other party as the Administrator may prescribe and be accompanied by payment in full of the exercise price as provided in the Plan. The exercise price may be paid (i) by cash or check acceptable to the Administrator, or (ii) by such
other means, if any, as may be acceptable to the Administrator as provided in the Plan. 
 5. Share Restrictions, Etc.
Not later than upon the execution of this Agreement and effective as of the date hereof, the Optionee has executed and become a party to the Management Stockholders’ Agreement. The Optionee’s rights hereunder (including with respect to
shares received upon exercise) are subject to the restrictions and other provisions contained in the Management Stockholders’ Agreement. 
 6. Legends, Etc. Shares issued upon exercise of the Rollover Option or otherwise delivered in satisfaction of the Rollover Option will bear such legends as may be required or provided for under the
terms of the Management Stockholders’ Agreement. 
 7. Transfer of the Rollover Option. The Rollover Option may not
be transferred except as expressly permitted under Section 6(a)(3) of the Plan. 
 8. Withholding. The exercise of
the Rollover Option will give rise to “wages” subject to withholding. The Optionee expressly acknowledges and agrees that the Optionee’s rights hereunder, including the right to be issued shares upon exercise, are subject to the
Optionee promptly paying to the Company in cash (or by such other means as may be acceptable to the Administrator in its discretion) all taxes required to be withheld. No shares will be transferred pursuant to the exercise of the Rollover Option
unless and until the person exercising the Rollover Option has remitted to the Company an amount in cash sufficient to satisfy all U.S. federal, state, local and non-U.S. requirements with respect to tax withholdings then due and has committed (and
by exercising the Rollover Option the Optionee shall be deemed to have committed) to pay 

  
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in cash all tax withholdings required at any later time in respect of the transfer of such shares, or has made other arrangements satisfactory to the Administrator with respect to such taxes;
provided that, if the Administrator so permits, the Optionee may satisfy such withholding requirements by having the Company hold back shares otherwise issuable upon the exercise of the Rollover Option with a fair market value equal to the
applicable statutory minimum tax withholding requirements. The Optionee authorizes the Company and its subsidiaries to withhold such amounts due hereunder from any payments otherwise owed to the Optionee, but nothing in this sentence shall be
construed as relieving the Optionee of any liability for satisfying his or her obligation under the preceding provisions of this Section 8. 
 9. Effect on Employment. Neither the grant of the Rollover Option, nor the issuance of shares upon exercise of the Rollover Option, will give the Optionee any right to be retained in the employ or
service of the Company or any of its Affiliates, affect the right of the Company or any of its Affiliates to discharge or discipline such Optionee at any time, or affect any right of such Optionee to terminate his or her Employment at any time.

 9. Governing Law. This Agreement and all claims or disputes arising out of or based upon this Agreement or relating to
the subject matter hereof will be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the application of the
domestic substantive laws of any other jurisdiction. The Parties agree that any disputes related to this Agreement shall be resolved in the state or federal courts of Delaware, to whose exclusive jurisdiction the Optionee expressly consents.

 By acceptance of the Rollover Option, the undersigned agrees hereby to become a party to, and be bound by the terms of, the
Management Stockholders’ Agreement and to be subject to the terms of the Plan. The Optionee further acknowledges and agrees that (i) the signature to this Agreement on behalf of the Company may be an electronic signature that will be
treated as an original signature for all purposes hereunder and (ii) if so, such electronic signature will be binding against the Company and will create a legally binding agreement when this Agreement is countersigned by the Optionee.

 [The remainder of this page is intentionally left blank] 

  
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 Executed as of the [    ] day of
[                    ], 2012. 
  

									
	Company:	 		 		 	SKY GROWTH HOLDINGS CORPORATION
					
		 		 		 	By:	 	  

		 		 		 		 	Name: Ronald Cami
		 		 		 		 	Title: Vice President and Secretary

  
 [Signature
Page to Non-Statutory Rollover Option Agreement] 

									
	Optionee:	 		 		 	  

		 		 		 	Name: [            ]
				
		 		 		 	Address:
				
		 		 		 	
[            ]

		 		 		 	
[            ],[       
     ][            ]

  
 [Signature
Page to Non-Statutory Rollover Option Agreement] 

 Schedule I 
 Par Options 
  

											
	 STOCK
OPTIONS

	 Grant

Date
	  	 Name of

Par Plan
	  	 Number of

Options

Outstanding
	  	 Exercise

Price
	  	 Expiration Date
	  	 Number of Options

Rolled

		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

 Schedule II 
 Rollover Options 
  

							
	 PAR
OPTIONS
	  	 ROLLOVER
OPTIONS

	 Number of Shares of Par

Common Stock
	  	
Exercise Price per Share of
 Par Common Stock
	  	
Number of Shares of Common
 Stock of the Company
	  	
Exercise Price per Share of
 Common Stock of the
 CompanyEX-10.25

 Exhibit 10.25 
 SKY GROWTH HOLDINGS CORPORATION 
 2012 EQUITY INCENTIVE PLAN

 RESTRICTED STOCK UNIT AGREEMENT 
 THIS AWARD AND ANY SECURITIES DELIVERED HEREUNDER ARE SUBJECT TO RESTRICTIONS ON VOTING AND TRANSFER AND REQUIREMENTS OF SALE AND OTHER PROVISIONS AS SET FORTH IN THE MANAGEMENT STOCKHOLDERS’
AGREEMENT. 
 SKY GROWTH HOLDINGS CORPORATION STRONGLY ENCOURAGES YOU TO SEEK THE ADVICE OF YOUR OWN LEGAL AND FINANCIAL
ADVISORS WITH RESPECT TO YOUR AWARD AND ITS TAX CONSEQUENCES. 
 Agreement (the “Agreement”) made this
[    ] day of [                    ], 2012 between Sky Growth Holdings Corporation (the “Company”), and
[                    ] (the “Participant”). 
 1. Restricted Stock Unit Award. The Company hereby grants to the Participant, pursuant to the Sky Growth Holdings Corporation 2012 Equity Incentive Plan (the “Plan”) and subject to
its terms, a Restricted Stock Unit award (the “Award”) giving the Participant the conditional right to receive, without payment but subject to the conditions and limitations set forth in this Agreement,
[            ] shares of the Company’s common stock (the “Shares”). This Award is made under and subject to the Plan, and, except as otherwise expressly provided
herein, all terms used herein shall have the same meaning as in the Plan. 
 2. Vesting. This Award shall become vested
on each of the dates set forth below as to the number of Shares specified below in respect of such date, provided that the Participant is on such date, and has been at all times since the date of this Agreement, an employee of, or other service
provider to, the Company or any of its Affiliates: 
 [            ]
Shares on September 28, 2015; and 
 [            ] Shares on
September 28, 2017. 
 In the event of termination of the Participant’s Employment by the Company without Cause or
termination of the Participant’s Employment by the Participant for Good Reason, in each case within the two-year period following a Change of Control (as defined in the Management Stockholders’ Agreement), the Award, to the extent unvested
and unless earlier terminated or forfeited, shall be treated for all purposes of this Agreement as having vested in full immediately prior to such termination of Employment. 
 For purposes of this Agreement, “Good Reason” means any of the following events or conditions occurring without the Participant’s express written consent, provided that the
Participant shall have given notice of such event or condition within a period not to exceed ninety (90) days of the initial existence of such event or condition and the Company shall not have remedied such event or condition within thirty
(30) days after receipt of such notice: (i) a materially adverse alteration in the nature or status of the Participant’s responsibilities or the conditions of employment; (ii) a material reduction in the Participant’s annual
base salary or any target bonus, other than an across-the-board reduction that applies to the Participant and 

 
similarly-situated employees; (iii) a change of fifty (50) miles or more in the Participant’s principal place of employment, except for required travel on business to an extent
substantially consistent with the Participant’s business travel obligations; or (iv) the Company’s material breach of any material written agreement between the Participant and the Company. Notwithstanding the foregoing, if an
Participant is party to an employment, severance-benefit, change in control or similar agreement with the Company or any subsidiary of the Company that contains a definition of “Good Reason” (or a correlative term), such definition
will apply in lieu of the definition set forth in the preceding sentence during the term of such agreement. 
 3. Delivery of
Shares. Subject to Section 4 below, the Company shall, as soon as practicable upon the vesting of any portion of the Award (but in no event later than March 15 of the year following the year in which the relevant portion of the Award
vests), effect delivery of the Shares with respect to such vested portion to the Participant (or, in the event of the Participant’s death, to the person to whom the Award has passed by will or the laws of descent and distribution). No Shares
will be issued pursuant to this Award unless and until all legal requirements applicable to the issuance or transfer of such Shares have been complied with to the satisfaction of the Administrator. 

4. Dividends; Other Rights. The Award shall not be interpreted to bestow upon the Participant any equity interest or ownership in
the Company or any Affiliate prior to the date on which the Company delivers Shares to the Participant. The Participant is not entitled to vote any Shares by reason of the granting of this Award or to receive or be credited with any dividends
declared and payable on any Share prior to the delivery date with respect to such Share. The Participant shall have the rights of a shareholder only as to those Shares, if any, that are actually delivered under this Award and only at such time as
such Shares are so delivered to the Participant. 
 5. Certain Tax Matters. The Participant expressly acknowledges that
because this Award consists of an unfunded and unsecured promise by the Company to deliver Shares in the future, subject to the terms hereof, it is not possible to make a so-called “83(b) election” with respect to the Award. The vesting
and/or payment of the Award will give rise to “wages” subject to tax withholding. The Participant expressly acknowledges and agrees that the Participant’s rights hereunder, including the right to be issued Shares following vesting of
the Award, are subject to the Participant promptly paying to the Company in cash (or by such other means as may be acceptable to the Administrator in its discretion) all taxes required to be withheld. No Shares will be transferred pursuant to the
Award unless and until the Participant has remitted to the Company an amount in cash sufficient to satisfy all U.S. federal, state, local and non-U.S. requirements with respect to tax withholdings then due and has committed to pay in cash all tax
withholdings required at any later time in respect of the transfer of such Shares, or has made other arrangements satisfactory to the Administrator with respect to such taxes; provided that, if the Administrator so permits, the
Participant may satisfy such withholding requirements by having the Company hold back Shares otherwise issuable upon the payment of the Award with a fair market value equal to the applicable statutory minimum tax withholding requirements. The
Participant authorizes the Company and its subsidiaries to withhold such amounts due hereunder from any payments otherwise owed to the Participant, but nothing in this sentence shall be construed as relieving the Participant of any liability for
satisfying his or her obligation under the preceding provisions of this Section 5. The Company and its subsidiaries shall have no liability or obligation related to the foregoing. 

  
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 6. Nontransferability. Neither this Award nor any rights with respect thereto may be
sold, assigned, transferred (other than by will or the laws of descent and distribution), pledged or otherwise encumbered, except as the Administrator may otherwise determine. 
 7. Other Agreements. The Participant acknowledges and agrees that the Shares delivered under this Award, if any, shall be subject to the Management Stockholders’ Agreement and the transfer and
other restrictions, rights, and obligations set forth therein. The Participant shall execute the Management Stockholders’ Agreement as a Manager (as such term is defined in the Management Stockholders’ Agreement). 

8. Effect on Employment Rights. Neither the grant of this Award, nor the delivery of Shares under this Award, shall give the
Participant any right to be retained as an employee of, or other service provider to, the Company or any of its Affiliates, or affect the right of the Company or any of its Affiliates to discharge or discipline such Participant at any time, or
affect any right of such Participant to terminate his or her employment at any time. 
 9. Legends, etc. Shares delivered
under this Award, if any, shall bear such legends as may be required or provided for under the terms of the Management Stockholders’ Agreement. 
 10. Confidential Information. The Participant agrees not to disclose (except as described below), or use for his or her personal benefit, any Confidential Information (as defined below) during the
term of the Participant’s service to the Company and its Affiliates or thereafter. Confidential information may only be disclosed to someone other than the Company or its Affiliates if it is (a) to further a legitimate business purpose of
the Company and its Affiliates, and (b) disclosed after the intended recipient has signed a Company-approved agreement containing the appropriate confidentiality provisions. In addition, the Participant agrees to make every reasonable effort to
(a) ensure the confidentiality and integrity of confidential information of the Company and its Affiliates and (b) protect it against reasonably anticipated threats or hazards to its security or integrity. “Confidential
Information” means all information of the Company or its Affiliates (in whatever form) which is not generally known to the public, including without limitation any inventions, processes, methods of distribution, customer lists or
customers’ trade secrets, but excluding information that (i) is or becomes generally available to the public other than as a result of disclosure directly or indirectly by the Participant in breach of his or her obligations; (ii) is
or becomes available to the Participant on a non-confidential basis from a source other than the Participant unless the Participant knows after due inquiry that such source is prohibited from disclosing the information to the Participant by a
contractual, fiduciary or other legal obligation to the Company or any of its Affiliates; or (iii) is or was independently acquired or developed by the Participant after the termination of his or her Employment without violating the
Participant’s obligations under this Agreement or any other obligation of confidentiality the Participant may have to the Company or any of its Affiliates; provided that if the Participant is a party to a written agreement containing a
provision regarding non-disclosure of confidential information in favor of the Company or any subsidiary of the Company, “Confidential Information” shall mean the information described in such provision. 

  
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 Upon the Company or any Affiliate’s request, the Participant will promptly return to
the Company or destroy all Confidential Information and other company materials that came into his or her possession, custody or control in connection with his or her employment by (or other service to) the Company or any of its Affiliates. The term
“company materials” includes, but is not limited to, all notes, correspondence, reports, computer programs, customer lists, data, manuals, presentations, and contracts which in any way relates to the Company or any Affiliate’s
business. Upon termination of employment (or other service relationship, if applicable), the Participant will promptly return all such materials without retaining any copies. 
 11. Competing Activity. The Administrator may cancel, rescind, terminate, withhold or otherwise limit or restrict the Award at any time if the Participant is not in compliance with all applicable
provisions of this Agreement and the Plan, or if the Participant breaches any agreement with the Company or its subsidiaries with respect to non-competition or non-solicitation or materially breaches any agreement with the Company or its
subsidiaries with respect to confidentiality, or, if no such agreement exists, the Participant engages in Competitive Activity or Solicitation during the term of the Participant’s Employment or during the 18-month period following cessation of
the Participant’s Employment or engages in any material unauthorized disclosure of Confidential Information during the term of the Participant’s Employment or thereafter, in each case, regardless of the reason for such cessation.
Notwithstanding the foregoing, if the Participant is subject to a non-competition, non-solicitation or confidentiality agreement with the Company or its subsidiaries, the determination as to whether the Participant has breached any obligation
contained in such agreement shall be made in accordance with the terms of such agreement. 
 For purposes of this Agreement,
“Competitive Activity” means, directly or indirectly, becoming employed by, engaging in business with, serving as an agent or consultant to, becoming a partner, member, principal, stockholder or other owner (other than a holder of
less than 1% of the outstanding voting shares of any publicly held company) of, any person competitive with, or otherwise performing services relating to, the business activities of the Company or its Affiliates at the time of the Participant’s
termination of Employment; provided that if the Participant is a party to a written agreement containing a non-competition provision in favor of the Company or any subsidiary of the Company, “Competitive Activity” shall mean any
action that would constitute a breach of such non-competition provision. 
 For purposes of this Agreement,
“Solicitation” means, directly or indirectly, soliciting or hiring or assisting any other person or entity in soliciting or hiring any employee of the Company or any of its respective Affiliates to perform services for any entity
(other than the Company or its respective Affiliates), or attempting to induce any such employee to leave the employ of the Company or its respective Affiliates, or interfering in any manner with any such employee’s relationship with the
Company or its respective affiliates, or soliciting, hiring or engaging on behalf of himself or any other person anyone who was employed by the Company or its respective Affiliates during the six-month period preceding such hiring or engagement.
Nothing herein shall preclude the Participant or such other person or entity from using any public advertising of a nature not specifically directed to employees of the Company or its Affiliates to solicit or hire employees of the Company or its
respective affiliates if such employees initiate contact with the Participant further to such advertising without specific solicitation; provided that if the Participant is a party to a written agreement containing a non-solicitation provision in
favor of the Company or any subsidiary of the Company, “Solicitation” shall mean any action that would constitute a breach of such non-solicitation provision. 

  
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 12. Amendments. No amendment of any provision of this Agreement shall be valid unless
the same shall be in writing. 
 13. Governing Law. This Agreement shall be governed and construed by and determined in
accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Delaware. 
 By acceptance of the Award, the undersigned agrees hereby to become a party
to, and be bound by the terms of, the Management Stockholders’ Agreement and to be subject to the terms of this Award and the Plan. The Participant further acknowledges and agrees that (i) the signature to this Agreement on behalf of the
Company may be an electronic signature that will be treated as an original signature for all purposes hereunder and (ii) if so, such electronic signature will be binding against the Company and will create a legally binding agreement when this
Agreement is countersigned by the Participant. 
 [Remainder of the page intentionally left blank.] 

  
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 The Company, by its duly authorized officer, and the Participant have executed this
Agreement as of the date first set forth above. 
  

			
	Sky Growth Holdings Corporation
		
	By:	 	  

	Name:	 	Ronald Cami
	Title:	 	Vice President and Secretary

  

			
	Agreed and Accepted:
		
	By:	 	  

	Name:	 	[            ]

  
 [Signature
Page to Restricted Stock Unit Award Agreement]

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