Document:

Exhibit 10.16

 

 

 

March 2, 2021

 

Frederic Pla, Ph.D.

[***]

 

Dear Frederic,

 

We are very excited about the prospects of your
joining Akoya Biosciences, Inc. Should you accept this offer and upon successful completion of a pre-employment background check
and drug screen we look forward to having you join the company on a date that is mutually convenient for both you and Akoya. This letter
confirms the terms of your employment.

 

Position and Duties:

You shall serve in the position of Chief Operating
Officer with Akoya Biosciences, Inc. (the “Company”) reporting to Brian McKelligon, CEO.

 

Your position, job description, manager, salary,
duties, and responsibilities may be modified from time to time at the sole discretion of Akoya Biosciences, Inc. You agree to strictly
adhere to all of the rules and regulations of Akoya Biosciences, Inc. as may be set forth in any Employee Handbook or published
policies of Akoya Biosciences, Inc. now or in the future, including all amendments to the Handbook which may be made in the future
in Akoya Biosciences, Inc.'s sole discretion (as published or amended from time to time, the "Manual”).

 

Compensation:

 

		(a)	Salary: Akoya Biosciences, Inc. shall pay you, and you agree to accept from Akoya Biosciences, Inc.
in payment for your services to Akoya Biosciences, Inc., a salary of $325,000.00 per year (the "Yearly Salary"),
payable in 24 equal installments of $13,541.67 on regular semi-monthly dates established by Akoya Biosciences, Inc., subject
to applicable tax withholding requirements. Any proposed increase of your salary, compensation or benefits must be approved by Akoya’s
CEO, Brian McKelligon.

 

		(b)	Annual Bonus. The Company has created an incentive pay plan under which you may be eligible for
an Annual cash incentive bonus (the “Bonus”). Your target cash bonus opportunity (the “Bonus”) will be
equal to 45% of your gross earnings in the calendar year. Any bonus will be based on a combination of your personal achievement
as well as the Company’s ability to meet its financial and operational performance objectives. The payment of any Bonus shall be
subject to your continued employment through the date of payment by the Company.

 

		(c)	Incentive Stock Options. The Company will offer you participation in an Equity Incentive Program.
Subject to approval by the Board of Directors of the Company (the “Board”), you will
be provided an Option to acquire the number of shares equivalent to 850,000 shares of the Company’s common stock under the
Company’s stock option plan (the “Option”). 25% of the shares subject to the Option will vest on the first anniversary
of your date of employment, with the remaining 75% of the shares subject to the Option vesting in equal monthly installments over
the subsequent 36 months on the same day of the month as your date of employment, subject to your continued service to the Company through
each applicable vesting date. The exercise price per share of the Option will be equal to the fair market value per share of the Company’s
common stock on the date the Option is granted, as determined by the Board in good faith. There is no guarantee that the Internal Revenue
Service will agree with this value. You should consult with your own tax advisor concerning the tax consequences associated with accepting
the Option.

 

1080
O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401 | www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough,
MA 01752

 

     

     

    

 

 

 

		(d)	Change of Control: In the event
that your employment with the Company is terminated by the Company (or its successor) without Cause (as defined in Exhibit A) or
by the Constructive Termination (as defined in Exhibit A) on account of or within twelve (12) months following the date of the consummation
of a Change in Control (as defined Exhibit A), (i) the vesting and exercisability of each of your outstanding stock awards (including
any stock options, restricted stock or other awards granted to you by the Company) shall be automatically accelerated in full, and (ii) you
will be entitled to receive your Salary, Cash Incentive Bonus paid at 100% of target and Benefits, for a period of twelve (12) months.
All payments will be made in accordance with the Company’s normal payroll practices. You agree that as a condition to receiving
any severance compensation, you will execute and deliver to the Company a separation and release agreement pursuant to which you will
release and waive all claims against the Company, its affiliates, and all of its an their present and/or former members, owners, officers,
directors, employees agents attorneys and representatives.

 

		(e)	Compensation Review: In the event the Company completes and initial public offering, the Company
and Board of Directors Compensation Committee agrees to review your full compensation package and make the necessary changes to bring
it in alignment with market standards and the other members of the Akoya executive team.

 

No Other Employment:

You
agree to devote your full business time, attention, and best efforts to the business of Akoya Biosciences, Inc. during the
employment relationship. Akoya Biosciences, Inc.’s normal business hours are from 8:30 a.m. to 5:30 p.m., Monday through
Friday. However, you may be required to work additional hours depending on the nature of your work assignments.

 

Time Off:

Employees at this compensation band are afforded
unlimited PTO under the Akoya PTO policy as stated in the Employee Handbook.

 

Company Holidays:

The Company offers 9 paid Holidays per calendar
year. The company holidays are listed in the benefits guide.

 

Benefit Plans:

You shall be entitled to participate in any standard
health and other benefit plans established by Akoya Biosciences, Inc. on terms as may be established by Akoya Biosciences, Inc.
in its sole discretion. Although you may be eligible for such benefits if they become available in the future, Akoya Biosciences, Inc.
does not promise or represent that such benefits will in fact become available or that once made available they will be continued.

 

Employee Expenses:

Akoya Biosciences, Inc. will reimburse you
for pre-approved business expenses, including those associated with business travel and lodging, (approved by the CEO.), as provided within
the guidelines of Akoya Biosciences, Inc.’s expense policy. All expenses shall be subject to review and approval by your direct
report and the CFO and shall require reasonable documentation.

 

Confidential Information and Invention Assignment
Agreement:

As a condition of your employment with Akoya Biosciences, Inc.,
you acknowledge that you have executed and delivered a copy of Akoya Biosciences, Inc.'s Proprietary Information and Inventions Agreement
and will abide by its terms. You acknowledge that a remedy at law for any breach or threatened breach by you of the provisions of the
Proprietary Information and Inventions Agreement would be inadequate, and you therefore agree that Akoya Biosciences, Inc. shall
be entitled to injunctive relief in case of any such breach or threatened breach.

 

1080
O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401 | www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough,
MA 01752

 

     

     

    

 

 

 

At-Will Employment:

Employment with Akoya Biosciences, Inc. is
employment at-will. Employment at-will may be terminated with or without cause and with or without notice at any time at the will of either
you or Akoya Biosciences, Inc. Terms and conditions of employment with Akoya Biosciences, Inc. may be modified at the sole discretion
of Akoya Biosciences, Inc. with or without cause and with or without notice. Other than the Chief Executive Officer (“CEO”),
no one has the authority to make any agreement for employment other than for employment at-will or to make any agreement limiting Akoya
Biosciences, Inc.'s discretion to modify the terms and conditions of employment. Only the CEO has the authority to make any such
agreement and then only in writing and signed by each of the CEO and the respective employee. No implied contract concerning any employment-related
decision or term, or condition of employment can be established by any other statement, conduct, policy, or practice.

 

Governing Law:

This Agreement is made and shall be construed
and enforced in accordance with the laws of the State of California. This Agreement and the Exhibits supersede and replace all prior agreements
or understandings, oral or written, between Akoya Biosciences, Inc., and you, except for prior confidentiality agreements, if any.
This Agreement may not be modified except by a writing signed both by the CEO and by you.

 

Arbitration:

In the event of any dispute in connection with
this Agreement or the Exhibits, the parties agree to resolve the dispute by binding arbitration in San Francisco, California, under the
Commercial Arbitration Rules of the American Arbitration Association ("AAA"), with a single arbitrator familiar with employment
and technology agreements appointed by AAA. In the event of any dispute, the prevailing party shall be entitled to its reasonable attorneys'
fees and costs from the other party, whether the matter is litigated or arbitrated to a final judgment or award. The arbitrator's decision
shall be final and binding on all parties and may be entered in any court having competent jurisdiction.

 

Severability:

If any provision of this Agreement or the Exhibits
is determined to be invalid or unenforceable, the remainder shall be unaffected and shall be enforceable against both Akoya Biosciences, Inc.,
and you.

 

This offer is contingent upon a background check
clearance, reference check, drug test, and satisfactory proof of the employee’s right to work in the US, as required by law.

 

Employee Review and Receipt of Agreement:

You acknowledge that you have carefully read and
considered all provisions of this Agreement and the Exhibits and agree that all of the restrictions set forth herein are fair and reasonably
required to protect Akoya Biosciences, Inc.'s interests. You acknowledge that you have received a copy of this Agreement and the
Exhibits as signed by you. You acknowledge that, prior to signing this Agreement, you have had an opportunity to seek the advice of
independent counsel of your choice relating to the terms of this Agreement.

 

	 	Sincerely,
	 	 
	 	Akoya Biosciences, Inc.

 

	 	By:	/s/ Brian McKelligon
	 	 
	 	Its:	CEO
	 	 
	 	Date:	March 2, 2021

 

1080
O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401 | www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough,
MA 01752

 

     

     

    

 

 

 

Agreed to and Accepted:

 

 

	/s/ Frederic Pla	 	March 2, 2021
	 	 	 
	Frederic Pla, Ph.D.	 	[Date]

 

1080
O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401 | www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough,
MA 01752

 

     

     

    

 

 

 

Exhibit A

 

“Constructive
Termination” shall mean (i) without your written consent, a material reduction in your Annual Salary, Objective-Based
Bonus or Benefits, other than those part of a management-wide reduction, (ii) any material failure by the Company to comply with
the provisions of this Offer, (iii) any action that results in a material diminution in your title, duties or responsibilities unless
such changes are mutually agreed upon, (iv) a failure of a successor-in-interest under a Change of Control to assume all of the obligations
of the company under this Offer, and (v) without your written consent, a requirement of relocation to a location more than 30 miles
away from your current home address. In order to establish a “Constructive Termination” for terminating employment, you must
provide written notice to the Company of the existence of the condition giving rise to the Constructive Termination and the Company must
be provided with thirty (30) days thereafter to cure the condition to the extent that any of such reasons are susceptible to cure, such
satisfaction to be reasonably determined by you.

 

“Cause”
shall mean: (i) any act or omission by you which has an adverse effect on the Company’s
business or on your ability to perform services for the Company, including, without limitation, the commission of, or a guilty or no contest
plea to, any crime (other than ordinary traffic violations), (ii) refusal or failure to perform reasonably assigned duties, serious
misconduct, excessive absenteeism, a breach by you of your fiduciary duty to the Company, or an act of fraud or dishonesty in the performance
of your duties, (iii) refusal or failure to comply with the Company’s policies, or (iv) any breach of your obligations
or duties under any written agreement between the Company and you, including, without limitation, this Offer.

 

“Change
of Control” shall mean the consummation of a reorganization, merger or consolidation, or
sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets of another corporation
or entity, or other similar transaction (each, a “Business Combination”), unless, in each case, immediately following such
Business Combination (A) all or substantially all of the individuals and entities who were the beneficial owners of voting stock
of the Company immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the combined
voting power of the then outstanding shares of voting stock of the entity resulting from such Business Combination (including, without
limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets
either directly or through one or more subsidiaries,) and (B) at least a majority of the members of the Board of Directors of the
entity resulting from such Business Combination were members of the Board of Directors of the Company at the time of the execution of
the initial agreement or of the action of the Board providing for such Business Combination.

 

1080
O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401 | www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough,
MA 01752

 

     

     

    

 

 

March 16, 2021

  

[***]

 

Re: Amendment to the Akoya Offer Letter to Frederic Pla Dated March 3,
2021

 

Dear Frederic,

 

The recently fully executed offer letter between Akoya and you, “Akoya
Offer Letter – Frederic Pla – March 3, 2021 – fully executed,” (“Offer”) and you shall be
modified to include partial pay of your $325,000 annual salary between your start date of March 22nd and April 16th
(“Amendment”). The goal is to support a smooth and gradual transition from your former employer (“PICI”)
to Akoya. Payment timing will be aligned with Akoya’s current payroll schedule.

 

The transition and pay schedule will be as follows.

 

	DATES	 	Days Split	 	Gross Earnings	 
	March 22 - March 26	 	 	 	 	 	 
	PICI	 	(2 days)	 	 	 	 
	Akoya	 	(3 days)	 	$	3,750	 
	March 29 - April 2	 	 	 	 	 	 
	PICI	 	(2 days)	 	 	 	 
	Akoya	 	(3 days)	 	$	3,750	 
	April 5 - April 9	 	 	 	 	 	 
	PICI	 	(1 day)	 	 	 	 
	AKOYA	 	(4 days)	 	$	5,000	 
	April 12 - April 16	 	 	 	 	 	 
	PICI	 	(1 day)	 	 	 	 
	Akoya	 	(4 days)	 	$	5,000	 
	 	 	TOTAL:	 	$	17,500	 

 

	Annual Salary	 	$	325,000	 	 	Daily Salary:	 	$	1,250	 

 

1080 O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401
| www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough, MA 01752 

 

     

     

    

 

 

You
acknowledge that you have carefully read and considered the provisions in this Amendment and agree to the additions and changes to your
Offer. You acknowledge that you have received a copy of this Amendment as signed by you.

 

	 	Sincerely,
	 	 
	 	Akoya Biosciences, Inc.

 

 

	 	By:	/s/ Brian McKelligon
	 	 
	 	Its:	CEO
	 	 
	 	Date:	March 16, 2021

 

Agreed to and Accepted:

 

 

	/s/ Frederic Pla	 	March 16, 2021
	 	 	 
	Frederic Pla, Ph.D.	 	[Date]

 

1080 O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401
| www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough, MA 01752 

 

     

     

    

 

 

Exhibit A

 

“Constructive
Termination” shall mean without your written consent, (i) a material reduction in your Yearly Salary, or Bonus,
other than as part of a management-wide reduction, (ii) any material failure by the Company to comply with the provisions of this
Offer, including a failure of a successor-in-interest under a Change of Control to assume all of the obligations of the company under
this Offer, (iii) any action that results in a material diminution in your title, duties or responsibilities unless such changes
are mutually agreed upon, , and (iv) a requirement of relocation to a location more than 30 miles away from your current home address.
In order to establish a “Constructive Termination” for terminating employment, you must provide written notice to the Company
of the existence of the condition giving rise to the Constructive Termination within 60 days of the initial existence of such condition,
and the Company must be provided with thirty (30) days thereafter to cure the condition, and your employment must terminate within 30
days of the end of the cure period..

 

“Cause”
shall mean: (i) any act or omission by you which has an adverse effect on the Company’s
business or on your ability to perform services for the Company, including, without limitation, the commission of, or a guilty or no contest
plea to, any crime (other than ordinary traffic violations), (ii) refusal or failure to perform reasonably assigned duties, serious
misconduct, excessive absenteeism, a breach by you of your fiduciary duty to the Company, or an act of fraud or dishonesty in the performance
of your duties, (iii) refusal or failure to comply with the Company’s policies or a directive from the Company, or (iv) any
breach of your obligations or duties under any written agreement between the Company and you, including, without limitation, this Offer.

 

“Change
of Control” shall mean the consummation of a reorganization, merger or consolidation, or
sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets of another corporation
or entity, or other similar transaction (each, a “Business Combination”), unless, in each case, immediately following such
Business Combination (A) all or substantially all of the individuals and entities who were the beneficial owners of voting stock
of the Company immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the combined
voting power of the then outstanding shares of voting stock of the entity resulting from such Business Combination (including, without
limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets
either directly or through one or more subsidiaries,) and (B) at least a majority of the members of the Board of Directors of the
entity resulting from such Business Combination were members of the Board of Directors of the Company at the time of the execution of
the initial agreement or of the action of the Board providing for such Business Combination.

 

“Change
in Control” shall have the meaning set forth in the applicable equity incentive plan. In the 2015 Equity Incentive Plan,
the definition is as follows: Change in Control” means the occurrence of any of the following events:

 

(i)            Change
in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one person, or more than one
person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by
such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that any change in the ownership
of the stock of the Company as a result of a private financing of the Company that is approved by the Board will not be considered a Change
in Control; or

 

(ii)            Change
in Effective Control of the Company. If the Company has a class of securities registered pursuant to Section 12 of the Exchange
Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during
any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior
to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of
the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

 

1080 O’Brien Drive. Suite A, Menlo Park, CA 94025 | 855.896.8401
| www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough, MA 01752 

 

     

     

    

 

 

(iii)            Change
in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of the Company’s
assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the
most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more
than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions.
For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets
being disposed of, determined without regard to any liabilities associated with such assets.

 

For purposes of this Section 2(f),
persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase
or acquisition of stock, or similar business transaction with the Company.

 

Notwithstanding the foregoing,
a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning
of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal
Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time.

 

Further and for the avoidance of
doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction of the Company’s
incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by
the persons who held the Company’s securities immediately before such transaction.

 

1080 O’Brien Drive. Suite A, Menlo Park,
CA 94025 | 855.896.8401 | www.akoyabio.com | 100 Campus Drive, 6th Floor, Marlborough, MA 01752EX-10.1

 Exhibit 10.1 

April 12, 2021 
 John F. Thero 

 

	Re:	 Transitional Services and Separation Agreement 

Dear John: 
 This letter confirms our agreement regarding your
planned retirement and in connection therewith your resignation as President and Chief Executive Officer of Amarin Corporation plc (the “Company”). The Board of Directors of the Company (the “Board”) appreciates
your substantial contributions to the Company and would like to make this transition as seamless as possible. 
 If this Transitional Services and
Separation Agreement (this “Agreement”) becomes effective, it will fully supersede all other agreements or understandings between you and the Company relating to your employment, compensation, severance pay, benefits and equity
awards, including, without limitation (i) the employment agreement between you and the Company dated December 23, 2011, as amended on January 10, 2014 and July 6, 2015 (the “Employment Agreement”), and
(ii) the Executive Severance and Change of Control Plan dated January 28, 2021 (the “Severance Plan”); provided, however, and notwithstanding the foregoing, the Nondisclosure, Developments and Noncompetition Agreement
between you and the Company dated December 23, 2011 (the “Restrictive Covenants Agreement”), the indemnification agreement between you and the Company dated January 19, 2011 (the “Indemnification
Agreement”), and the stock option agreements in connection with each of your outstanding stock option grants as of the date hereof and the restricted stock unit award agreements in connection with each of your restricted stock unit awards
as of the date hereof (collectively, along with the Company’s equity incentive plan(s) as may be amended from time to time, the “Equity Documents”) shall remain in full force and effect both during and after your employment
with the Company, subject to this Agreement. For purposes of this Agreement, the Restrictive Covenants Agreement, the Indemnification Agreement, the Equity Documents and any other contractual obligations regarding confidentiality, invention
assignment, noncompetition or nonsolicitation, are referred to as the “Preserved Agreements.” This Agreement and the Preserved Agreements set forth all of the contractual rights and obligations between you and the Company, and you
shall not be entitled to any other payments or benefits except as specifically set forth in those documents. For the avoidance of doubt, the Company’s insider trading policy shall continue to be in effect during and after your employment,
consistent with the terms of the policy. 
 With those understandings, the Agreement between you and the Company is as follows: 

  
 1 

 1. Transition Period; CEO Retirement Date 

(a) Transition Period. If you enter into, do not revoke and comply with this Agreement, your employment with the Company will continue
until October 31, 2021 (the “Anticipated Last Day of Employment”), unless you sooner resign or the Company terminates your employment or you and the Company mutually agree in writing to extend your employment. The actual last
day of your employment is referred to herein as the “Last Day of Employment.” The time period between the date of the Company’s public announcement regarding your planned retirement and the Last Day of Employment is referred to
herein as the “Transition Period.” The Transition Period consists of two phases: Phase One and Phase Two. 
 (b) Phase
One of the Transition Period. Phase One of the Transition Period is the period between the date of the public announcement regarding your planned retirement and the CEO Retirement Date (as defined below), during which time it is anticipated that
you will continue to serve as President and CEO, work full-time, remain a member of the Board and be paid your current base salary at the rate of $844,600 per year. During Phase One of the Transition Period, you will remain eligible for employee
benefits, subject to the terms and conditions of the applicable health plan(s), and you will continue to accrue paid time off, consistent with the Company’s paid time off policy. You will also continue to vest in your outstanding stock options,
restricted stock units (“RSUs”) and restricted stock units subject to performance milestones (“PSUs”) during Phase One, subject to the terms and conditions set forth in the Equity Documents. 

(c) CEO Retirement Date. Your retirement from the role of President, CEO and a director of the Company will be effective on
August 1, 2021 (or such other date as mutually agreed by you and the Board and consistent with this Agreement, the “CEO Retirement Date”). You acknowledge and agree that your retirement from the role of President, CEO and
director and from the Company is a voluntary separation and not a termination without Cause or for Good Reason for purposes of the Employment Agreement or the Severance Plan, such that you are not eligible for any severance pay, benefits or
accelerated vesting under the Employment Agreement or the Severance Plan, which are fully superseded by this Agreement. Effective on the CEO Retirement Date, you will be deemed to have resigned as an officer and director of the Company, as well as
from any other officer or director positions that you hold with any of the Company’s subsidiaries or any affiliate of the Company. You agree to execute any documents requested by the Company or any controlled entities necessary to effectuate
such resignations. 
 (d) Phase Two of the Transition Period. Phase Two of the Transition Period is between the CEO Retirement Date
and the Last Day of Employment. During Phase Two, your position with the Company will be “Senior Advisor,” and you will work approximately 30% of a full-time executive employee. Your base salary will be reduced by 50%, such that it
will be paid at the rate of $422,300 per year during Phase Two. You will continue to be eligible for employee benefits, subject to the terms and conditions of the applicable health plan(s). You will not accrue paid time off during Phase Two. You
will also continue to vest in your outstanding stock options, RSUs and PSUs during Phase Two, subject to the terms and conditions set forth in the Equity Documents. Your employment with the Company will end at the end of Phase Two. 

  
 2 

 (e) In the event that you resign your employment or the Company terminates your employment
for Cause (as defined below), in either case prior to the Anticipated Last Day of Employment, your employment will immediately end, you will be paid your applicable base salary and any accrued but unused paid time off through the Last Day of
Employment, you will cease vesting as of the Last Day of Employment, and you shall have no right to any further compensation from the Company. For purposes of this Agreement, “Cause” has the meaning ascribed to such term in the
Employment Agreement. 
 (f) In the event that the Company terminates your employment without Cause prior to the Anticipated Last Day of
Employment, subject to you entering into general release agreement, the Company will (i) pay you the base salary that would have accrued to you if you had remained employed through the Anticipated Last Day of Employment in the form of salary
continuation on the Company’s regular payroll dates, and (ii) the portion of your stock options, RSUs and PSUs that would have vested if you had remained employed through the Anticipated Last Day of Employment will accelerate and become
fully vested and exercisable or nonforfeitable as of the Last Day of Employment. 
 2. Post-Employment Consulting 

Provided that you (i) enter into, do not revoke and comply with this Agreement, and (ii) your employment continues until the
Anticipated Last Day of Employment (the “Conditions”), then immediately following the Last Day of Employment, you will become a consultant to the Company and provide consulting services on an
as-needed basis to the Company as mutually agreed (the “Consulting Services”) until February 28, 2022 or such later date as may be agreed to in writing by you and the Board (such period,
the “Consulting Period”). For the avoidance of doubt, the Consulting Period will end on February 28, 2022 unless you and the Board agree in writing on or prior to February 28, 2022 to extend the Consulting Period. You will
be paid a consulting fee of $400 per hour during the Consulting Period. The Company will pay you such consulting fees on a monthly basis within 30 days after its receipt of an invoice detailing the number of hours and a description of the Consulting
Services performed during the applicable invoice period, as well as any other information reasonably requested by the Company. In conjunction with such Consulting Services, you will be reimbursed for all reasonable expenses you incur to perform such
Consulting Services subject to you providing documentation of such expenses and consistent with Company policy. 
 For the avoidance of
doubt, there will be no break in your service relationship with the Company between the Last Day of Employment and the first day of the Consulting Period for purposes of continued vesting in your outstanding stock options, RSUs and PSUs, which will
continue to vest during the Consulting Period, subject to the terms of the Equity Documents. 

  
 3 

 
During the Consulting Period, you will no longer be an employee of the Company, but instead will be retained as an independent contractor. You will be solely responsible for payment of all
charges and taxes arising from your relationship to the Company as an independent contractor. You agree that during the Consulting Period, you will not state or imply, directly or indirectly, that you are empowered to bind the Company without the
Company’s prior written consent. 
 3. 2021 Bonus Compensation 

Provided that you satisfy the Conditions, you will be eligible for a 2021 annual bonus, based on the achievement of the Company’s
Board-approved corporate goals as determined by the Board or the Remuneration Committee of the Board on a basis consistent with the then active officers of the Company. The bonus will be targeted at 80% of all cash compensation for 2021 as reported
to taxing authorities on Forms W-2 and 1099 minus any amount attributed to your 2020 bonus. The bonus, if any, will be paid to you if and when other executives receive their 2021 bonuses. For the avoidance of
doubt, you will not be eligible for any other incentive compensation. 
 4. Equity 

Subject to the terms set forth above and the Equity Documents, you will continue to vest in your outstanding stock options, RSUs and PSUs
during the Transition Period and the Consulting Period. Consistent with the Equity Documents, (i) your options will cease vesting (and for clarity no longer be eligible for acceleration including but not limited to in connection with a Change
of Control (as defined in the Employment Agreement)) on the last day of your service relationship with the Company as an employee or a consultant and will be exercisable until the earlier of (A)12 months following the last day your service
relationship and (B) the original 10-year expiration date for such vested options as provided in the applicable Equity Documents, and (ii) the RSUs and PSUs will lapse to the extent they are not
vested when your service relationship ends; provided, however, and notwithstanding the foregoing, that if a Change of Control occurs during the Transition Period or the Consulting Period, then all of your outstanding stock options, RSUs and PSUs
(whether or not subject to time-based vesting) shall immediately accelerate and become fully vested and exercisable or nonforfeitable as of the Date of Termination. For the avoidance of doubt, you will not be eligible for any further equity awards
during your employment or the Consulting Period. 
 5. Health Benefits 

As set forth above, you will continue to be eligible for employee health benefits during the Transition Period, subject to the terms and
conditions of the applicable health plan(s). Subject to the approval of the Company’s group health plan, you will be allowed to continue to participate in the Company’s group health plan during the Consulting Period at the group rate,
entirely at your own cost. In the event that you are not able to continue to participate in the Company’s group health plan during the Consulting Period and thereafter, you will be entitled to any rights you may have under COBRA to continuing
health care coverage, which will be entirely at your own cost. 

  
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 6. Release of All Claims 

You, on your own behalf and on behalf of your heirs, executors, administrators, attorneys and assigns, hereby unconditionally and irrevocably
release, waive and forever discharge the Company and each of its affiliates, parents, successors, predecessors, and the subsidiaries, directors, owners, members, shareholders, officers, agents, and employees of the Company and its affiliates,
parents, successors, predecessors, and subsidiaries (collectively, all of the foregoing are referred to as the “Releasees”), from any and all causes of action, claims and damages, including attorneys’ fees, whether known or
unknown, foreseen or unforeseen, presently asserted or otherwise arising through the date on which you sign this Agreement. This release includes, but is not limited to, any claim or entitlement to salary, bonuses, any other payments, benefits or
damages arising under any federal law (including, but not limited to, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act,
Executive Order 11246, the Family and Medical Leave Act, and the Worker Adjustment and Retraining Notification Act, each as amended and any other federal, state, local or foreign law relating to notice of employment termination or to severance pay);
any claim arising under any state or local laws, ordinances or regulations (including, but not limited to, the New Jersey Law Against Discrimination, the New Jersey Family Leave Act and any state or local laws, ordinances or regulations requiring
that advance notice be given of certain workforce reductions); any claim arising under Irish law, including, but not limited to, any claim for statutory benefits; and any claim arising under any common law principle or public policy, including, but
not limited to, all suits in tort or contract, such as wrongful termination, defamation, emotional distress, invasion of privacy or loss of consortium; provided, however, that this release shall not apply to (a) claims to enforce your rights
under this Agreement; (b) claims for vested benefits pursuant to ERISA; (c) claims with respect to your vested equity rights as of the Last Day of Employment; (d) claims to enforce the Company’s obligation to indemnify you to the
extent such indemnification obligations exist; and (e) claims or administrative charges which legally may not be waived. 
 You are waiving, however,
any right to monetary recovery or individual relief should any federal, state or local agency (including the Equal Employment Opportunity Commission) pursue any claim on your behalf arising out of or related to your employment with and/or separation
from employment with the Company; provided that nothing in this Agreement limits any right you may have to receive a whistleblower award or bounty for information provided to the Securities and Exchange Commission. 

You represent that you have not assigned any claim to any third party. You further acknowledge and represent that, except as expressly provided in this
Agreement, you have been paid all wages, bonuses, compensation, benefits and other amounts that any of the Releasees has ever owed to you. 

  
 5 

 7. Restrictive Covenants and Continuing Obligations 

(a) Restrictive Covenants Agreement. You acknowledge and agree that the terms of the Restrictive Covenants Agreement remain in full
force and effect, which, among other things, prohibits disclosure of the Company’s confidential information and contains a 12-month post-employment non-competition
and non-solicitation restriction. The terms of the Restrictive Covenants Agreement are incorporated by reference into this Agreement. 

(b) Return of Property. You acknowledge and agree that you are required to return all Company property to the Company pursuant to the
Restrictive Covenants Agreement upon the ending of your employment, including, without limitation, all files, letters, notes, memoranda, credit cards, reports, records, data, charts, quotations and proposals, specification sheets, educational
materials or other written, photographic or other tangible material containing proprietary information, including, without limitation your Company laptop. Notwithstanding this obligation, you may retain such Company property that is necessary, as
determined by the Board, for purposes of performing Services during the Consulting Period, provided that you promptly return all such Company property at the end of the Consulting Period. After returning all such Company property to the Company, you
must delete and finally purge any duplicates of files or documents that may contain Company information from any non-Company computer or other device that remains your property after the last day of the
Consulting Period. In the event that you discover that you continue to retain any such property, you must return it to the Company immediately. 

(c) Cooperation. You agree to cooperate reasonably with the Company (including its outside counsel) in connection with (i) the
contemplation, prosecution and defense of all phases of existing, past and future litigation about which the Company reasonably believes you may have knowledge or information; (ii) internal or external investigations related to matters that
occurred during your employment and about which the Company reasonably believes that you have relevant information and (iii) transitioning your duties (together “Cooperation Services”). You further agree to make yourself
available to provide Cooperation Services at mutually convenient times. The Company shall not utilize this section to require you to make yourself available to an extent that would unreasonably interfere with full-time employment or other business
responsibilities that you may have. The Company shall reimburse you for any reasonable travel expenses that you incur due to your performance of Cooperation Services, after receipt of appropriate documentation consistent with the Company’s
business expense reimbursement policy and the Company agrees to compensate you for your time in providing Cooperation Services performed after the Consulting Period at the rate of $400 per hour. 

  
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 (d) Non-Disparagement.  

(i) You agree not to make, publish or communicate to any person or entity or in any public forum any disparaging or defamatory statements
(whether written, oral, through social or electronic media or otherwise) concerning any of the Releasees, any of their respective products or services or any of their respective current or former officers, directors, shareholders, employees or
agents. Your obligations under this Section 7(d)(i), together with your obligations under Sections 7(a) through (c), are collectively referred to as the “Continuing Obligations.” 

(ii) For its part, the Company agrees to instruct current members of the Board and current C-level
executives not to make, publish or communicate to any person or entity or in any public forum any disparaging or defamatory statements (whether written, oral, through social or electronic media or otherwise) concerning you or your work with the
Company, including not stating or implying that your retirement was anything other than a voluntary decision by you. In addition, C-level executives will instruct representatives of the Company’s public
relations and investor relations teams to not make any such disparaging or defamatory statements on behalf of the Company and, if C-level executives become aware that a representative has made disparaging or
defamatory statements regarding you on behalf of the Company they will take reasonable action to correct such statements. 
 (iii) For the
avoidance of doubt, nothing in this Agreement prohibits truthful testimony in a legal proceeding or prohibits you from communicating with a government agency. 

8. Communications Regarding Your Departure 

Promptly following the date of the public announcement regarding your planned retirement, the Company will issue a formal written internal
announcement about your planned retirement, with the content of such internal announcement to be mutually agreed upon by you and the Board (the “Company Announcement”). Until such time as the Company Announcement is made, you agree
that you will not (without the prior written approval of the Board) communicate about your planned retirement with anyone until after the Company Announcement has been made; provided that you may communicate with your tax advisor(s), attorney(s),
and spouse about your transition and departure before the Company Announcement; provided further that you first advise such persons not to reveal information about your transition and departure until the Company Announcement is made and each such
person agrees and provided further that you may inform the executive vice president and senior vice presidents within the Company as well as persons involved with preparations for public and internal communications provided that you first advise
such persons not to reveal information about your transition and departure until the Company Announcement is made and each such person agrees. Once the Company has made the Company Announcement, you agree to limit any communications regarding your
planned retirement to statements consistent with the Company Announcement. 

  
 7 

 9. Tax Treatment; Section 409A 

(a) The Company shall undertake to make deductions, withholdings and tax reports with respect to payments and benefits under this Agreement to
the extent that it reasonably and in good faith determines that it is required to make such deductions, withholdings and tax reports. Nothing in this Agreement shall be construed to require the Company to make any payments to compensate you for any
adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit. 
 (b) The
parties intend that payments under this Agreement will be exempt from or comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent that any provision of this Agreement is ambiguous as
to its exemption from or compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder are exempt from or comply with Section 409A of the Code. The Company makes no representation or
warranty and shall have no liability to you or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions
of, such Section. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A 2(b)(2). 

10. Time for Consideration; Effective Date. 

You acknowledge that you have knowingly and voluntarily entered into this Agreement and that the Company advises you to consult with an
attorney before signing this Agreement. You acknowledge that you have been given the opportunity, if you so desire, to consider this Agreement for twenty-one (21) days before executing it (the
“Consideration Period”). To accept this Agreement, you must return a signed, unmodified original or PDF copy of this Agreement so that it is received by the undersigned at or before the expiration of the Consideration Period. If you
sign this Agreement before the end of the Consideration Period, you acknowledge that such decision was entirely voluntary and that you had the opportunity to consider this Agreement for the entire Consideration Period. For the period of seven
(7) days from the date when you sign this Agreement, you have the right to revoke this Agreement by written notice to the undersigned, provided that such notice is delivered so that it is received at or before the expiration of the seven
(7) day revocation period. This Agreement shall not become effective or enforceable during the revocation period. This Agreement shall become effective on the first business day following the expiration of the revocation period (the
“Effective Date”). 
 11. Other Provisions 

(a) Absence of Reliance. In signing this Agreement, you are not relying upon any promises or representations made by anyone at or on
behalf of the Company. 
 (b) No Admission of Liability. This Agreement does not constitute an admission of liability or wrongdoing on
the part of the Company, the Company does not admit there has been any wrongdoing whatsoever against you, and the Company expressly denies that any wrongdoing has occurred. 

  
 8 

 (c) Entire Agreement. This Agreement, together with the Preserved Agreements,
constitutes the entire agreement between you and the Company and supersedes any previous agreements or understandings between you and the Company, including, without limitation, the Employment Agreement and the Severance Plan. 

(d) Severability. If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section
of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it
is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

(e) Relief. You agree that it would be difficult to measure any harm caused to the Company that might result from any breach by you of
any of the Continuing Obligations. You further agree that money damages would be an inadequate remedy for any breach of the Continuing Obligations. Accordingly, you agree that if you breach, or propose to breach, any portion of the Continuing
Obligations, the Company shall be entitled, in addition to all other remedies it may have, to an injunction or other appropriate equitable relief to restrain any such breach, without showing or proving any actual damage to the Company and without
the necessity of posting a bond, and to its costs of enforcement of the Continuing Obligations, including its reasonable attorney’s fees and expenses. 

(f) Governing Law; Interpretation. This Agreement shall be governed by the laws of the State of New Jersey, excluding the choice of law
rules thereof. In the event of any dispute, this Agreement is intended by the parties to be construed as a whole, to be interpreted in accordance with its fair meaning, and not to be construed strictly for or against either you or the Company or the
“drafter” of all or any portion of this Agreement. 
 (g) Jurisdiction. You and the Company hereby agree that the state and
federal courts in the State of New Jersey shall have the exclusive jurisdiction to consider any matters related to this Agreement, including without limitation any claim of a violation of this Agreement. With respect to any such court action, you
submit to the jurisdiction of such courts and you acknowledge that venue in such courts is proper. 
 (h) Waiver; Amendment. No waiver
of any provision of this Agreement shall be effective unless made in writing and signed by the waiving party. The failure of a party to require the performance of any term or obligation of this Agreement, or the waiver by a party of any breach of
this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. This Agreement may not be modified or amended except in a writing signed by both you and the Chairman of the
Board. 

  
 9 

 (i) Counterparts. This Agreement may be executed in separate counterparts. When both
counterparts are signed, they shall be treated together as one and the same document. Electronic and pdf signatures shall be deemed to have the same legal effect as originals. 

[Signature page follows.] 

  
 10 

 Please indicate your agreement to the terms of this Agreement by signing and returning the original or a PDF
copy of this letter within the time period set forth above. 
  

			
	Sincerely,
	
	AMARIN CORPORATION PLC
		
	By:	 	 /s/ David Stack

	David Stack
	Chairman, Remuneration Committee

 This is a legal document. Your signature will commit you to its terms. By signing below, you acknowledge that you have
carefully read and fully understand all of the provisions of this Agreement and that you are knowingly and voluntarily entering into this Agreement. 
  

	
	 /s/ John F. Thero

	John F. Thero
	
	Date: April 12, 2021

  
 11

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