Document:

Exhibit 10.18

EMPLOYMENT AGREEMENT

 

This Employment Agreement (the
“Agreement”) is made as of no later than November 1, 2014 (the “Effective Date”), between Patheon Pharmaceutical
Services Inc. (the “Company”) and Eric M. Sherbet (the “Executive”).

 

A.           The
Company is a subsidiary of DPx Holdings B.V. (“DPx”). DPx is the corporate parent of a group of businesses engaged
in the provision of commercial manufacturing and development services (pharmaceuticals and fine chemicals), related services, and
the development, manufacture, distribution and marketing of proprietary products. As used herein, “DPx Group” means
DPx and any entity controlled directly or indirectly by DPx.

 

B.           The
Company wishes to employ the Executive, and the Executive wishes to be employed by the Company, pursuant to the terms and subject
to the conditions set forth in this Agreement, in the position described herein. The effective date (the “Effective Date”)
of this Agreement shall be as the parties may agree but no later than November 1, 2014.

 

C.           The
Company and the Executive wish to enter into this Agreement to set forth the rights and obligations of each of them with respect
to the employment of the Executive.

 

D.           Notwithstanding
any provisions related to termination of employment or this Agreement, employment is “at will”, meaning that either
the Company or the Executive can terminate the employment relationship or this Agreement at any time subject only to contractual
payments agreed to herein as may be applicable.

 

E.           It
is a material condition of this Agreement that Executive has passed or will in advance of his or her start date pass a satisfactory
drug screen; that Executive has and will continue to have legal authorization to work in the United States; and that background
and reference checks are satisfactory.

 

F.           The
Company and the Executive agree that the terms, provisions and mutual covenants of this Agreement suffice as adequate consideration
for their mutual promises made in this Agreement.

 

NOW, THEREFORE, the parties agree as follows:

 

ARTICLE 1

DEFINITIONS

 

	Definitions.	In
this Agreement, including Schedule A and B hereto, unless the context otherwise requires, the following terms shall have the following
meanings, respectively:

  

		(a)	“Board of Directors” means the Board
of Directors of DPx.

 

		(b)	“Cause” means the determination, in
good faith, by the Company, after notice to the Executive that one or more of the following events has occurred: (i) the Executive
has failed to perform his material duties, and, if curable, such failure has not been cured after a period of thirty (30) days’
notice from the Company; (ii) any intentional or negligent act by the Executive having the potential or actual effect of injuring
the interests, business, or reputation of any member of the DPx Group in any material respect; (iii) the Executive’s commission
of any felony (including entry of a nolo contendere or other plea not contesting charges); (iv) any misappropriation or
embezzlement of the property of any member of the DPx Group; (v) a material breach of any provision of this Agreement by the Executive,
which breach, if curable, remains uncured for a period of thirty (30) days after receipt by the Executive of notice from the Company
of such breach; or (vi) a material breach of Company Policy by the Executive, including but not limited to violation of policies
and procedures regarding DPx Group information as described in Schedule B hereto, which breach, if curable, remains uncured for
a period of thirty (30) days after receipt by the Executive of notice from the Company of such breach.

  

    	 

    	 

    

 

		(c)	“Change in Control” means any of the
following events:

 

		(i)	the sale of all or substantially all of the assets of
the Partnership to any Person (or group of Persons acting in concert), other than to (A) the Initial Investors or their respective
Affiliates or (B) any employee benefit plan (or trust forming a part thereof) maintained by the Partnership or another Person
of which a majority of its voting power or other Equity Securities is owned, directly or indirectly, by the Partnership; or

 

		(ii)	a merger, consolidation, recapitalization or other reorganization
by the Partnership, or a sale or disposition by the Partners to any Person (or group of Persons acting in concert) of Equity Securities
or voting power, in each case, that results in any Person (or group of Persons acting in concert) (other than (A) the Initial
Investors or their respective Affiliates or (B) any employee benefit plan (or trust forming a part thereof) maintained by the
Partnership or another Person of which a majority of its voting power or other Equity Securities is owned, directly or indirectly,
by the Partnership) owning more than 50% of the outstanding Equity Securities or voting power of the Partnership (or any resulting
company after a merger, consolidation or other reorganization).

 

The
terms used but not defined in this Section 1(c) have the meanings set forth in the Fourth Amended and Restated Agreement of Exempted
Limited Partnership of JLL/Delta Patheon Holdings, L.P., as amended. 

		(d)	“Code” means the Internal Revenue Code
of 1986, as amended.

 

		(e)	“Disability” means the Executive’s
inability to substantially fulfill his or her duties on behalf of the Company such that he or she has been approved for long-term
disability benefits pursuant to the Company’s long-term disability plan interpreted in a manner consistent with Section
1.409A-3(i)(4) of the Treasury Regulations.

 

		(f)	“Excluded Termination” means a termination
of the Employee’s employment

 

			with the Company:

		(i)	by the Company or any successor company for Cause

 

		(ii)	by the Executive other than for Good Reason; or

 

		(iii)	as a result of the Disability, death or retirement of
the Executive.

 

		(g)	“Good Reason” means the occurrence
of any of the following events without the consent of the Executive: (i) a material reduction of the Executive’s duties
or responsibilities or the assignment to the Executive of duties or responsibilities materially inconsistent with the Executive’s
position; or (ii) a material breach by the Company of this Agreement, which breach remains uncured for a period of thirty (30)
days after receipt by the Company of written notice from Executive A termination of the Executive’s employment by Executive
shall not be deemed to be for Good Reason unless (i) the Executive gives notice to the Company of the existence of the event or
condition constituting Good Reason within thirty (30) days after such event or condition initially occurs or exists, (ii) the
Company fails to cure such event or condition within thirty (30) days after receiving such notice, and (iii) the Executive’s
“separation from service” within the meaning of Section 409A of the Code occurs not later than ninety (90) days after
such event or condition initially occurs or exists.

 

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ARTICLE 2 

EFFECTIVE DATE;
TERMS OF EMPLOYMENT

 

		2.1	Term

 

The
Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the Company pursuant to the terms
and subject to the conditions of this Agreement (including, without limitation, Article 6 and Schedules A and B), commencing on
the Effective Date. The Executive’s employment with the Company will be “at will,” meaning that either the Executive
or the Company will be entitled to terminate the Executive’s employment at any time and for any reason, with or without
Cause. Any contrary representations which may have been made to the Executive are superseded by this Agreement. This is the full
and complete agreement between the Executive and the Company on this term. Although the Executive’s job duties, title, compensation
and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will”
nature of the Executive’s employment may only be changed in an express written agreement signed by the Executive and a duly
authorized officer of the Company.

 

		2.2	Position and Duties

 

The
Executive shall be employed by the Company and shall serve as General Counsel, with such authority, duties and responsibilities
as are commensurate with such position, reporting to the Chief Executive Officer.

 

In
addition, the Executive will be a member of the DPx Group’s Executive Committee and will become an officer of DPx and of
any members of the DPx Group, as may be requested.

 

The
Executive shall also be responsible for the functions and responsibilities set out in the Position Description attached hereto
as Schedule A.

 

The
location of the Executive’s employment will be the Framingham offices, located at 111 Speen Street, Suite 550 Framingham,
MA 01701, or such other location where the principal executive offices may be relocated from time to time by the Company.

 

		2.3	Standards of Performance and Time Commitments

 

The
Executive will, at all times, faithfully, industriously, and to the best of his or her ability, experience and talents, perform
all of the duties required of and from him or her pursuant to the terms of this Agreement. During the Executive’s employment,
the Executive shall devote substantially all of his or her working time and attention to his or her duties with the DPx Group,
shall have and comply with a duty of loyalty to the Company and the DPx Group, and shall render no material business services
to any other person or company; provided, however, it shall not be a violation of this Agreement for the Executive, subject to
the requirements of Article 6, to spend reasonable amounts of time to manage his or her personal, financial and legal affairs

 

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ARTICLE 3 

COMPENSATION AND BENEFITS

 

		3.1	Base Salary

 

The
Company shall pay the Executive an annualized base salary (“Annual Base Salary”) of U.S. $450,000, payable pursuant
to the Company’s regular payroll practices for its executives in effect at the time. The Executive’s Annual Base Salary
will be prorated from the Effective Date. The Annual Base Salary shall be reviewed by the Chief Executive Officer, for increase
only, at such time as the salaries of other senior executives of the Company are reviewed generally.

 

		3.2	Executive Performance Bonus

 

The
Executive shall be eligible to participate in an annual performance incentive plan under terms and conditions no less favorable
than other senior executives of the Company; provided that the Executive’s target bonus shall not be less than sixty percent
(60%) of his or her Annual Base Salary. The Executive’s payment under the annual performance incentive plan shall be based
on meeting predetermined personal objectives as assessed by the Chief Executive Officer in his or her sole discretion, and the
Company’s financial performance as assessed by the Chief Financial Officer and the Board of Directors. The personal objectives
will normally be set by the Chief Executive Officer. The annual performance bonus, if any, will be paid to the Executive by the
Company in the same manner and payment period generally applicable under the annual performance incentive plan and state law,
but in no event later than two and a half months after the later of (i) the end of the applicable performance period, or (ii)
the end of the calendar year in which the performance period ends. Nothing contained in this Section 3.2 will guarantee the Executive
any specific amount of incentive compensation, or prevent the Chief Executive Officer from establishing or modifying performance
goals and compensation targets applicable only to the Executive. The decision as to whether to have a bonus plan or to fund such
a plan, as well as the decision as to whether Executive shall receive a bonus payment, or any bonus incentive is at the Company’s
sole discretion. Such bonus or incentive payment is not “wages” for labor performed.

 

		3.3	Equity Incentive Plan

 

Executive
will be eligible to participate in the JLL/DELTA PATHEON HOLDINGS, L.P. 2014 Equity Incentive Plan (the “MEIP”) and
will be eligible to be awarded Membership Units from time to time in accordance with the terms of the MEIP, the Membership Unit
award agreement, and all related documents (collectively, the “MEIP Related Documents”).

 

		(a)	Subject to approval of the Board of Directors at a meeting
following the Effective Date, Executive will be awarded three thousand (3,000) of the Membership Units, which shall be granted
subject to the MEIP Related Documents.

 

		(b)	Executive will be required to comply with the MEIP Related
Documents, as amended from time to time.

 

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		3.4	Sign on Bonus

 

Executive
will be entitled to a sign-on bonus in the amount of USD $125,000. This amount, which is not “wages” for work performed,
will be paid within thirty (30) business days of January 1, 2015 and treated as taxable income. The Executive will be obligated
to reimburse The Company the full amount within the Date of Termination as defined below should he or she resign or be terminated
for Cause within one year from the date this amount is paid by the Company. Executive authorizes the Company to deduct the sign-on
bonus from Executive’s final paycheck and/or any other amounts otherwise owed to the Executive, and Executive agrees and
acknowledges that execution of this Agreement is intended and shall serve as written authorization for all such deductions.

 

		3.5	Employee Benefits

 

The
Executive will be entitled to participate in all employee healthcare and welfare benefits programs of the Company, in accordance
with the then applicable terms, conditions and eligibility requirements of such programs that are offered from time to time to
U.S. resident-based employees at the Executive’s level, including medical, dental, life insurance, 401(k) retirement plans
and other health benefit programs.

 

In
addition, the Executive will be entitled to four (4) weeks of vacation time, subject to the Company’s vacation policy, as
may be in effect from time to time, which will be pro-rated based on the Effective Date.

 

		3.6	Reimbursement of Business Expenses

 

The
Executive shall be reimbursed for all reasonable travel and other out-of-pocket expenses actually and properly incurred by the
Executive during the Executive’s employment in connection with carrying out his or her duties hereunder in accordance with
the Company’s policies, as may be in effect from time to time.

 

		3.7	Sarbanes-Oxley Act Loan Prohibition

 

To
the extent that any Company or DPx Group benefit, program, practice, arrangement or this Agreement would or might otherwise result
in the Executive’s receipt of an illegal loan (the “Loan”), the Company shall use commercially reasonable efforts
to provide the Executive with a substitute for the Loan that is lawful and of at least equal value to the Executive. If this cannot
be done, or if doing so would be significantly more expensive to the Company than making the Loan, the Company need not make the
Loan to the Executive or provide any substitute for it.

 

ARTICLE 4 

TERMINATION OF
EMPLOYMENT

 

		4.1	Death or Disability

 

		(a)	The Executive’s employment shall be immediately
terminated without notice by the Company upon the death of the Executive.

 

		(b)	If the Company determines that the Disability of the Executive
has occurred during the Executive’s employment, it shall give to the Executive written notice in accordance with Section
7.4 of this Agreement of its intention to terminate the Executive’s employment. In such event, the Executive’s employment
shall terminate effective on the thirtieth (30th) day after receipt of such notice by the
Executive.

  

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		4.2	Cause

 

The
Executive’s employment with the Company may be terminated with or without Cause.

 

		4.3	Good Reason

 

The
Executive’s employment with the Company may be terminated by the Executive with or without Good Reason.

 

		4.4	Notice of Termination

 

Any
termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by Notice of Termination to the
other party in accordance with Section 7.4. For purposes of this Agreement, a “Notice of Termination” means a written
notice which (a) indicates the specific termination provision in this Agreement relied upon, (b) to the extent applicable, sets
forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment
under the provision so indicated and (c) if the Date of Termination (as defined below) is other than the date of receipt of such
notice, specifies the termination date (which date shall be not more than 30 days after the giving of such notice). The failure
by the Company or the Executive to set forth in the Notice of Termination any fact or circumstance which contributes to a showing
of Cause or Good Reason shall not waive any right of the Company or the Executive, respectively, hereunder or preclude the Company
or the Executive, respectively, from asserting such fact or circumstance in enforcing the Company’s or the Executive’s
rights hereunder.

 

		4.5	Date of Termination

 

“Date
of Termination” means (a) if the Executive’s employment is terminated by the Company for Cause, or by the Executive
for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein, as the case may be, (b)
if the Executive’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall
be the date on which the Company notifies the Executive of such termination and (c) if the Executive’s employment is terminated
by reason of Disability, the Date of Termination shall be the date thirtieth (30) day after receipt of the written notice given
to the Executive by the Company in accordance with Section 4.1(b). The Company and the Executive shall take all steps necessary
(including with regard to any post-termination services by the Executive) to ensure that any termination described in this Section
4.5 constitutes a “separation from service” within the meaning of Section 409A of the Code, and the date on which
such separation from service takes place shall be the “Date of Termination.”

 

		4.6	Resignation from All Positions

 

Notwithstanding
any other provision of this Agreement, upon the termination of the Executive’s employment for any reason, unless otherwise
requested by the Board of Directors, the Executive shall immediately resign as of the Date of Termination from all positions that
he or she holds or has ever held with the DPx Group (and with any other entities with respect to which the DPx Group has requested
the Executive to perform services). The Executive hereby agrees to execute any and all documentation to effectuate such resignations
upon request by the Company, but he or she shall be treated for all purposes as having so resigned upon termination of his or
her employment, regardless of when or whether he or she executes any such documentation.

 

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ARTICLE 5 

OBLIGATIONS OF THE
COMPANY UPON TERMINATION

 

		5.1	Good Reason; Other than for Cause

 

If
the Company shall terminate the Executive’s employment other than for Cause, death or Disability, or if the Executive shall
terminate the Executive’s employment for Good Reason:

 

		(a)	The Company shall pay, or cause to be paid, to the Executive
in a lump sum in cash the sum of: (i) that portion of the Executive’s Annual Base Salary earned but not previously paid
through the Date of Termination; (ii) reimbursement of expenses incurred on or before the Date of Termination in accordance with
Section 3.7, above; and (iii) any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts
described in clauses (i), (ii), and (iii) shall be hereinafter referred to as the “Accrued Obligations”). The Accrued
Obligations shall be paid on the regular payday following the Date of Termination.

 

		(b)	Subject to Executive’s full compliance with Executive’s
obligations pursuant to this Agreement, including but not limited to Sections 4.6, 5.3, 6 and Schedule B, the Company shall pay,
or cause to be paid, to the Executive:

 

		(i)	An amount equal to the aggregate of twelve (12) months
of the Executive’s Annual Base Salary, which amount is not wages for labor performed and may be withheld for any prior breach
by Executive of his or her obligations in this Agreement;

 

		(ii)	Change of Control: An amount equal to the aggregate of
six (6) months of the Executive’s Annual Base Salary at the date of termination (but no less than the salary in effect at
the time of the Change of Control) if, within (18) months following a Change of Control, the Executive’s employment shall
be terminated for any reason whatsoever, other than as a result of an Excluded Termination, which amount is not wages for labor
performed and may be withheld for any prior breach by Executive of his obligations in this Agreement;

 

		(iii)	An amount, which shall be determined in the sole discretion
of the Company’s Board of Directors exercising good faith and paid at the same time as the Company pays its bonuses to management
generally under the applicable plan, for the performance bonus set forth in Section 3.2 above for the annual performance period
fully completed prior to the Date of Termination. For the avoidance of doubt, such bonus shall not be paid pro rata for a performance
period that is not fully complete prior to the Date of Termination and shall be in accordance with the terms of the applicable
bonus plan in effect at the time of termination.

 

Such
amount[s] in b(i) and b(ii) above shall be paid in six (6) equal monthly installments if only (i) applies and in twelve (12) monthly
installments if both (i) and (ii) apply, payable as of the first day of the month beginning within sixty (60) days after the Date
of Termination or any later date set forth below; provided, however, if the sixty (60) day period spans two (2) calendar years,
the said payments shall commence in the second calendar year. Installments shall be made during the “short-term deferral
period” following the termination of employment, as such term is defined in Section 409A of the Internal Revenue Code (the
“Code”). At the conclusion of this short-term deferral period, the installment payments shall continue to the extent
that the Executive’s remaining severance payment does not exceed two times the lesser of (i) the executive’s annual
compensation or (ii) the compensation limit in effect under Section 401(a)(17) of the Code for the calendar year including the
date of termination (the “Two Times Limit”); provided, however, to the extent the remaining severance payments exceed
the Two Times Limit, then the installment payments which are below the Two Times Limit shall be paid to the Executive. Any remaining
severance payments which exceed the Two Times Limit shall continue to paid in installments unless (i) the Executive is a “specified
employee” as defined in Section 409A of the Code at the time of his or her termination of employment with the Company and
(ii) the deferral of further payments payable hereunder as a result of such termination of employment is necessary in order to
prevent any accelerated or additional tax under Section 409A of the Code, in which case, the Company will defer the commencement
of the payment of any such payments (without any reduction in such payments ultimately paid to the Executive) until the date that
is six months following his or her termination of employment with the Company (or the earliest date as is permitted under Section
409A of the Code). If the Executive dies during such six (6) month period, then payments shall commence within thirty (30) days
after the Executive’s death). All payments to be made upon a termination of employment under this agreement may only be
made upon a “separation from service” within the meaning of such term under Section 409A of the Code.

 

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		(c)	To the extent not theretofore paid or provided, the Company
(or DPx, as the case may be) shall pay or provide, or cause to be paid or provided, to the Executive any other amounts or benefits
required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy or practice or contract
or agreement of the DPx Group (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”),
in accordance with the terms and normal procedures of each such plan, program, policy or practice or contract or agreement, based
on earned, accrued or vested benefits through the Date of Termination.

 

If
the Executive receives payments and benefits pursuant to this Section 5.1, then the Executive shall not be entitled to any other
severance pay or benefits under any severance plan, program or policy of any member of the DPx Group, unless otherwise specifically
provided therein in a specific reference to this Agreement; provided, however, in the event any payment is made, or required to
be made, under any such severance plan, program or policy, then the amounts payable under this Section 5.1 shall be reduced by
such amount.

 

		5.2	Death or Disability; Cause; Other than for Good Reason

 

If
the Executive’s employment is terminated due to death, Disability or for Cause, or if the Executive voluntarily terminates
his or her employment without Good Reason or for retirement, this Agreement shall terminate without further obligations to the
Executive other than the obligation to pay to the Executive his or her Accrued Obligations through the Date of Termination and
the Other Benefits earned, accrued, or vested through the Date of Termination, in each case to the extent not theretofore paid
or provided. All Accrued Obligations shall be paid to the Executive in accordance with Section 5.1(a) and the Other Benefits shall
be paid to the Executive in accordance with Section 5.1(c). The Company (and the DPx Group) will have no further obligation to
pay any compensation of any kind (including, without limitation, any bonus or portion of a bonus that otherwise may have become
due and payable to the Executive with respect to the year in which such Date of Termination occurs), or severance payment of any
kind, nor will the Company (or the DPx Group) have any obligation to make any payment in lieu of notice.

 

		5.3	Release

 

Notwithstanding
anything contained herein to the contrary, the Company shall only be obligated to make the payments under Section 5.1(b) if, in
addition to the other contingencies under Section 5.1(b): (a) within the 21-day period after the Date of Termination, the Executive
executes a general release, substantially in the form attached Schedule C to this Agreement, of all current or future claims,
known or unknown, against the DPx Group, its officers, directors, shareholders, employees and agents arising on or before the
date of the release, including but not limited to all claims arising out of the Executive’s employment with the DPx Group
or the termination of such employment, and (b) the Executive does not negotiate the terms substantially as set forth in Schedule
C or revoke the release during the seven-day revocation period prescribed by the Age Discrimination in Employment Act of 1967,
as amended, or any similar revocation period, if applicable. The Company shall be obligated to provide the release to the Executive
promptly following the Date of Termination.

 

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ARTICLE 6

RESTRICTIVE COVENANTS

 

		6.1	In General

 

		(a)	The Executive acknowledges and agrees that the DPx Group
is a business engaged in the sale of commercial pharmaceutical manufacturing capabilities and/or pharmaceutical development services,
and during the Executive’s employment, the DPx Group’s business may expand or change (“the DPx Group’s
Business”). Any such expansions and changes shall expand or change the Executive’s obligations under this Agreement
accordingly. The DPx Group’s Business is international in scope and without geographical limitation and the DPx Group has
valuable business relationships within its industry throughout the world.

 

		(b)	By virtue of the Executive’s employment by and position
with the Company: (i) the Executive has or will have access to confidential and proprietary information of the DPx Group, including
valuable information about its business operations and methods and the persons with whom it does business in various locations
throughout the world that is not generally known to, or readily ascertainable by, the DPx Group’s competitors, and the Executive
understands that the continued success of the DPx Group depends upon the use and protection of a large body of confidential and
proprietary information, and (ii) the Executive has specialized knowledge of, and has received or will receive specialized training
in, the DPx Group’s Business.

 

		(c)	The Executive authorizes the Company to disclose this
Agreement to Executive’s future or prospective employers along with notification of the Company’s intent to exercise
all rights it has to seek enforcement of its terms.

 

		6.2	Confidentiality Undertaking

 

The
Executive confirms that he is bound by the provisions of the Confidentiality Undertaking covenant set out in Schedule B hereto.

 

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		6.3	Non-Compete, Non-Solicitation

 

		(a)	Executive agrees that for one (1) year after the termination
of the Executive’s employment with the Company by the Executive or the Company for any reason whatsoever (the “Non-compete
Period”), the Executive shall not directly or indirectly engage in any of the following activities (except in connection
with his/her duties for the Company):

 

		(i)	engage in any Competitive Business as defined in this
Agreement within the geographical areas set forth in Section 6.3(b);

 

		(ii)	within the geographical areas set forth in Section 6.3(b),
solicit or do business which is the same, similar to or otherwise in competition with the business engaged in by the DPx Group,
from or with persons or entities: (a) who are customers of the DPx Group; (b) whom Executive or someone for whom Executive was
responsible solicited, negotiated, contracted, serviced or had contact with on the DPx Group’s behalf; (c) who were customers
of the DPx Group at any time during the last year of the Executive’s employment with the DPx Group; or (d) to whom the DPx
Group had made proposals to do business at any time during the last year of the Executive’s employment with the Company;
or

 

		(iii)	offer employment to or otherwise solicit for employment
any employee or other person who had been employed by the DPx Group during the last year of the Executive’s employment with
the Company and whom Executive knows, worked with supervised or has confidential information about;

 

		(iv)	within the geographical areas set forth in Section 6.3(b),
be employed (or otherwise engaged) by a Competitive Business in (i) a management capacity, (ii) other capacity providing the same
or similar services which the Executive provided to the DPx Group, or (iii) any capacity connected with business activities competitive
with the DPx Group;

 

		(v)	directly or indirectly take any action which is materially
detrimental or otherwise intended to be adverse to the DPx Group’s goodwill, name, business relations, prospects and operations.

 

		(b)	The restrictions set forth in this Section 6.3 apply to
the following geographical areas: (i) the Research Triangle Park, North Carolina metropolitan area; (ii) the Cincinnati, Ohio
metropolitan area; (iii) the greater Boston, Massachusetts metropolitan area; (iv) any city, metropolitan area, county (or similar
political subdivisions in foreign countries) in which the DPx Group is located or does or, during the Executive’s employment
with the Company, did business; and (v) any city, metropolitan area, county (or similar political subdivisions in foreign countries)
in which the Executive’s services were provided, or for which the Executive had responsibility, or in which the Executive
worked on DPx Group projects, while employed by the Company.

 

		(c)	If, at the time of enforcement of this Section 6.3, a
court holds that the restrictions stated herein are unreasonable under circumstances then existing, the Executive agrees that
they be “blue-penciled” or rewritten by the court to the extent necessary to render them enforceable. In addition,
the one (1) year time period specified in this Section 6.3 shall be tolled and shall not run during any time the Executive is
in violation of Section 6.3 or period(s) of time required for legal action to enforce the provisions of this Section 6.3.

 

		(d)	“Competitive Business” means a business engaged
in the sale of commercial pharmaceutical or biological manufacturing capabilities and/or the sale of pharmaceutical or biological
development services.

 

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		6.4	Remedies

 

Because
the Executive has access to Confidential Information (as defined in Schedule B), the Executive understands and agrees the DPx
Group would suffer irreparable harm from a breach of this Agreement and that money damages would not be an adequate remedy for
any such breach of this Agreement. Therefore, in the event of a breach or threatened breach of this Agreement (including Schedules
A and B), the DPx Group and its successors or assigns, in addition to other rights and remedies existing in their favor, shall
be entitled to specific performance and/or injunctive or other equitable relief from a court of competent jurisdiction in order
to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security) as well as court costs
and reasonable attorney’s fees.

 

		6.5	Acknowledgements

 

The
Executive agrees and acknowledges that the promises and obligations made by the Company in this Agreement (specifically including,
but not limited to, the payments and benefits provided for under Section 5.1(b) and (d) hereof) constitute sufficient consideration
for the covenants contained in this Article 6 and Schedule B. The Executive further acknowledges that it is not the DPx Group’s
intention to interfere in any way with his employment opportunities, except in such situations where the same conflict with the
legitimate business interests of the DPx Group. The Executive agrees that he will notify the Company in writing if he has, or
reasonably should have, any questions regarding the applicability of this Article 6 and Schedule B.

 

		6.6	Survival

 

Subject
to any limits on applicability contained therein, this Article 6 and Schedule B shall survive and continue in full force in accordance
with their respective terms notwithstanding any expiration or termination of this Agreement.

 

ARTICLE 7

 

GENERAL PROVISIONS

 

		7.1	Entire Agreement

 

This
Agreement, together with Schedules A and B attached hereto and incorporated herein by reference, when executed by both parties
shall constitute the entire agreement pertaining to the Executive’s employment and supersedes all prior agreements, understandings,
negotiations and discussions, whether written or oral, pertaining to the Executive’s employment, and there are no representations,
undertakings or agreements of any kind between the parties respecting the subject matter hereof except those contained herein.
The recitals set forth above are incorporated herein by this reference with the same force and effect as if set forth herein as
agreements of the parties.

 

    	Page | 11

    	 

    

		7.2	Severability

 

If
any provision of this Agreement is declared void or unenforceable, such provision shall be deemed severed from this Agreement
to the extent of the particular circumstances giving rise to such declaration and such provision as it applies to other persons
and circumstances and the remaining terms and conditions of this Agreement shall remain in full force and effect.

 

		7.3	Representations

 

The
Executive represents and warrants that (a) he or she is not a party to any contract, understanding, agreement or policy, whether
or not written, with his or her current employer (or any previous employer) or otherwise, that would be breached by the Executive’s
entering into, or performing services under, this Agreement and (b) will not knowingly use any trade secret, confidential information,
or other intellectual property right of any other party in the performance of his duties hereunder. The Executive will indemnify,
defend, and hold each member of the DPx Group harmless, from any and all suits and claims arising out of any breach of such restrictive
contracts, understandings, agreements or policies.

 

		7.4	Notices

 

All
notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested (a return receipt shall be deemed acceptance), postage prepaid, addressed as follows:

 

If
to the Executive:

 

Eric M. Sherbet

53
Bigelow Rd.

Newton,
MA 02465

 

If
to the Company:

James
Mullen

111
Speen Street, Suite 550

Framingham,
MA 01701

Attention:
Chief Executive Officer

 

With
a copy to:

Rebecca
Holland New

4721
Emperor Blvd, Suite 200

Durham,
NC 27703

Attention:
Senior Human Resources Executive

 

or
to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications
shall be effective when actually received by the addressee.

 

		7.5	Withholding

 

The
Company may withhold from any wages or other compensation and benefits payable under this Agreement all federal, state, city and
other taxes or amounts as shall be determined by the Company to be required to be withheld pursuant to applicable laws, or governmental
regulations or rulings. The Executive shall be solely responsible for the satisfaction of any taxes (including employment taxes)
imposed on employees and penalty taxes on nonqualified deferred compensation.

 

    	Page | 12

    	 

    

		7.6	Waiver

 

The
Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the
failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive
to terminate employment for Good Reason, shall not be deemed to be a waiver of such provision or right or any other provision
or right of this Agreement.

 

		7.7	Successors

 

		(a)	This Agreement is personal to the Executive and is not
assignable by the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives.
This Agreement shall inure to the benefit of and be binding upon the Company, the other members of the DPx Group, and their respective
successors and assigns.

 

		(b)	The Company, at its discretion, may assign this Agreement,
and will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business and/or assets of DPx or the Company to assume expressly and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place.

 

		7.8	Section 409A of the Code

 

		(a)	Although the payments and benefits provided under this
Agreement are intended to be exempt from the application of, or, to the extent subject thereto, comply with, the requirements
of Section 409A of the Code (“Section 409A”), the tax treatment of the payments and benefits provided under this Agreement
is not warranted or guaranteed. Specifically, any taxable benefits or payments provided under this Agreement are intended to be
separate payments that qualify for the “short-term deferral” exception to Section 409A to the maximum extent possible,
and to the extent they do not so qualify, are intended to qualify for the involuntary separation pay exceptions to Section 409A
to the maximum extent possible. This Agreement shall be construed, administered, and governed in a manner that effects such intent.
Without limiting the foregoing, the payments and benefits provided under this Agreement may not be deferred, accelerated, extended,
paid out or modified in a manner that would result in the imposition of an additional tax under Section 409A upon the Executive.

 

		(b)	Each amount to be paid or benefit to be provided under
this Agreement shall be construed as a separate identified payment for purposes of Section 409A. To the extent required by Section
409A, each reimbursement or in-kind benefit provided under this Agreement that will not be excluded from Executive’s income
when received is subject to the following requirements: (i) the amount of expenses eligible for reimbursement, or in-kind benefits
provided, during each calendar year cannot affect the expenses eligible for reimbursement, or in-kind benefits to be provided,
in any other calendar year; (ii) any reimbursement of an eligible expense shall be made on or before the last day of the calendar
year following the calendar year in which the expense was incurred; and (iii) the right to reimbursements or in-kind benefits
under this Agreement shall not be subject to liquidation or exchange for another benefit.

 

		(c)	Although the Company will endeavor to avoid the imposition
of taxation, interest and penalties under Section 409A, the tax treatment of the benefits provided under this Agreement is not
warranted or guaranteed. Neither the DPx Group nor its directors, officers, employees or advisers shall be held liable for any
taxes, interest, penalties or other monetary amounts owed by the Executive or other taxpayer as a result of the Agreement. Any
reference in this Agreement to Section 409A will also include any proposed, temporary or final regulations, or any other guidance,
promulgated with respect to such Section 409A by the U.S. Department of Treasury or the Internal Revenue Service.

 

    	Page | 13

    	 

    

		7.9	Governing Law.

 

This
Agreement shall be construed and interpreted in accordance with the substantive laws of the State of Massachusetts, without giving
effect to any choice or conflict of law provision or rule (whether of the State of Massachusetts or any other jurisdiction) that
would cause the application of laws of any jurisdiction other than those of the State of Massachusetts. The state and federal
courts located in Massachusetts shall be the exclusive forum for the adjudication of all disputes between the parties arising
out of or relating to this Agreement. Each of the parties hereby irrevocably consents to the personal jurisdiction of the federal
and state courts in the State of Massachusetts with respect to any matters arising out of this Agreement and waives any and all
objections and defenses to such personal jurisdiction regardless of whether such objection or defense is based upon the venue,
Massachusetts’ long-arm statute, residence and/or contacts with Massachusetts, the convenience of the witnesses and/or parties,
the inconvenience of the forum, or otherwise.

 

NOW THEREFORE, the parties below
have entered into this Agreement as of the date first written above.

 

	Patheon Pharmaceutical Services Inc.
	 	 	 
	By:	/s/ James Mullen	 
	Name:        	James Mullen	 
	Title:	CEO DPx Holdings	 

 

 

	 	 	EXECUTIVE
	 	 	 
	SIGNED, SEALED AND DELIVERED	)	 
	in the presence of	)	 
		)	 
	/s/ Mindy
    Sherbet 	)	/s/ Eric M. Sherbet
	Name of Witness: Mindy
    Sherbet 	 	Eric M. Sherbet

 

    	Page | 14

    	 

    

SCHEDULE A 

TO

EMPLOYMENT AGREEMENT
WITH

Eric M. Sherbet 

 

 

 

POSITION DESCRIPTION

 

General Counsel

 

Major Responsibilities

 

		·	Span of control involves executive
leadership of international operations and global customers.

 

		·	Ensures compliance with securities
laws, issues for debt, equities and mixed financial instruments.

 

		·	Develops and negotiates complex business
arrangements including short-term and long-term business contracts with complex provisions.

 

		·	Leads and/or directs global litigation,
including but not limited to, business contracts, performance issues and employment charges or litigation.

 

		·	Ensures compliance with regulatory legal
matters including the activities of international bodies such as the FDA, US DEA, EMEA, etc.

 

		·	Supports manufacturing activities requiring
filings and registration with these regulators covering environmental, safety, employment conditions, etc.

 

		·	Provides direction in matters involving
intellectual property laws with respect to pharmaceutical products, formulations, manufacturing processes and devices that affect
many of the products and customers.

 

		·	Provides material support for execution
of global legal responsibilities to protect and support sustained growth of the business and improve profitability.

 

		·	Ensures global employees comply with
company established ethics, confidentiality and other practices including but not limited to other country specific policies.

 

This position description is not intended as a complete
list of all responsibilities and responsibilities may change.

 

    	Page | 15

    	 

    

SCHEDULE B 

TO

EMPLOYMENT AGREEMENT
WITH

Eric M. Sherbet

 

 

 

CONFIDENTIALITY,
INVENTIONS ASSIGNMENT AND RETURN OF PROPERTY UNDERTAKING

 

In consideration of Eric Sherbet (the
“Executive”) accepting an employment agreement between the Executive and Patheon Pharmaceutical Services Inc. (the
“Company”)
dated                , 2014 (the
“Agreement”) to which this Confidentiality, Inventions Assignment and Return of Property Undertaking
(“Confidentiality Undertaking”) is attached as Schedule B, the Executive undertakes and covenants with the DPx
Group (as defined in the Agreement) as follows:

 

1.            CONFIDENTIAL INFORMATION

 

Executive
acknowledges that all Confidential Information (defined below) is the sole and exclusive property of the DPx Group (or a third
party providing such information to the DPx Group). At all times during Executive’s employment and thereafter, Executive
will hold in strictest confidence and will not use, disclose, copy or remove from the DPx Group premises any Confidential Information,
nor aid third parties in obtaining or using any Confidential Information, nor access or attempt to access any DPx Group computer
systems, networks or any resources or data that resides thereon, except as such use, disclosure, copying, removal or access may
be required in connection with Executive’s employment and only then in accordance with applicable DPx Group policies and
procedures and solely for the DPx Group’s benefit. Executive further acknowledges that the applicable DPx Group policies
and procedures referenced in the preceding sentence include but are not limited to the following and apply regardless of whether
or not the information is Confidential Information: (i) no forwarding of electronic files, data, emails or other information to
home, personal or external email accounts even for the purpose of working remotely; (ii) no use of thumb drives, flash drives or
other portable devices or copying methods without the express written consent of the Company; (iii) no copying of hard copy documents
for removal from the worksite even for the purpose of working remotely; (iv) emails, voicemails or other communications, whether
written, verbal, electronic or otherwise, sent to Executive are for his/her eyes/ears only and are not to be shared with any other
employee or person, except with the express consent of the sender; and (v) violation of policies and procedures regarding DPx Group
information is grounds for immediate termination for Cause. Additionally, Executive will notify the DPx Group of any known
or suspected unauthorized use, disclosure, copying or removal of Confidential Information by others.

 

As
used in this Agreement, “Confidential Information” means any and all facts, data or information of the DPx Group
(or of third parties providing such information to the DPx Group) that is not known by, or generally available to the public
at large, that concerns the business of the DPx Group (or third parties providing such information to the DPx Group) whether
now existing or to be developed in the future, and whether embodied in tangible or intangible form or merely remembered,
including but not limited to trade secrets or other intellectual property; products, product plans, designs, ideas, concepts,
costs, methods or policies; prices or price formulas; processes; procedures; raw materials; research, development or
know-how; customer lists and information, information relating to customers, prospective partners, partners, parents,
subsidiaries, affiliates and other entities; financial information; computer software (including design, programming
techniques, flow charts, source code, object code, and related information and documentation); products and services;
inventory lists; market and/or product research and development data; business strategies and methodologies, strategic or
business plans, training manuals and methodologies; employee phone and address lists, personnel data, incentive packages,
compensation data and employee performance data; and all other information of any kind or character relating to the
development, improvement, manufacture, sale, or delivery of products or services by the DPx Group.

 

    	Page | 16

    	 

    

If Executive
is required to disclose Confidential Information pursuant to a court order or such disclosure is necessary to comply with applicable
law or defend against claims, Executive shall: (i) notify the Company promptly before any such disclosure is made; (ii) at the
Company’s request and expense take all reasonably necessary steps to defend against such disclosure, including defending against
the enforcement of the court order, other government process or claims; and (iii) permit the DPx Group to participate with counsel
of its choice in any related proceeding.

 

2.             INVENTIONS

 

	a.		Inventions. Subject to paragraph 2 b., Executive agrees that all right, title,
and interest in and to (i) all discoveries, designs, ideas, works of authorship, and inventions created, conceived, reduced to
practice, or otherwise developed, in whole or in part, by Executive, whether jointly or individually, during Executive’s
employment or within three years following termination of employment for any reason whatsoever; (ii) all improvements, modifications,
and derivative works to and of any of the foregoing in (i); and (iii) all patent, copyright, trademark, trade secret and other
intellectual property rights in any of the foregoing in (i) and (ii) (all the foregoing in (i)-(iii), collectively, the “Inventions”)
will be owned solely and exclusively by the Company. Without limiting the foregoing, all copyrightable subject matter included
in the Inventions shall constitute “work made for hire” under applicable copyright law. Executive will:

 

	 	(i)	promptly and fully disclose and describe, in detail satisfactory to the Company, all
such Inventions in writing to the Company;

 

		(ii)	irrevocably and unconditionally assign, and Executive does hereby irrevocably
and unconditionally assign, to the Company, without further compensation or other consideration, any and all of Executive’s
rights, title and interest in and to the Inventions, including without limitation (1) all rights to collect royalties for any use,
and pursue remedies for any infringement, misappropriation, or other violation, thereof and (2) all applications for letters of
patent, copyright registrations, trademark, service mark, and trade dress registrations, and industrial design or other forms of
protection granted for the Inventions throughout the world;

 

		(iii)	deliver promptly to the Company, upon request and in the form and manner
prescribed by the Company (without charge to the Company but at the Company’s expense), including without limitation Executive’s
notarized signature in execution of, the written instruments described in paragraph b. and perform all other acts deemed necessary
by the Company to obtain and maintain the instruments and to transfer all rights and title thereto to the Company in accordance
with this Agreement; and

 

		(iv)	promptly render all assistance that may be required by the Company to enable
it to protect or exploit the Inventions in any country of the world.

 

    	Page | 17

    	 

    

In addition, Executive does
hereby waive and agree never to assert any rights in the Inventions, and any part or parts thereof, that are not susceptible of
assignment by Executive under applicable law, including, but not limited to, any moral rights or the right to the integrity or
attribution of the Inventions, or any other right to be associated with the Inventions as its author, inventor, or user by name
or under a pseudonym or the right to remain anonymous.

 

	b.		Excluded Inventions. The provisions of paragraph 2a. will not apply to Inventions
which fulfill all of the following criteria:

 

		(i)	Inventions for which no equipment, supplies, facility or Confidential Information belonging to the Company were used; and

 

		(ii)	Inventions that do not relate to the business of the Company or to the Company’s
actual or demonstrably anticipated processes, research or development; and

 

		(iii)	Inventions that do not result from any work performed by Executive for the
Company.

 

3.             RETURN OF COMPANY PROPERTY

 

Upon the
Company’s request and, in any event, upon the cessation of Executive’s employment with the Company, Executive will
return to the Company all Confidential Information in Executive’s possession or control, along with all Company property,
including but not limited to keys, pass cards, identification cards, computer hardware and software, manuals, passwords, customer
lists, sales records, business plans, any data concerning customers of the Company, brochures of the Company and of any competitor,
all corporate records, policy handbooks, receipts, documents, records, files and other documents in whatever form they exist, whether
electronic, hard copy or otherwise, and all copies, notes or summaries thereof. Any and all such documents contained on Executive’s
personal computer or devices shall be printed, delivered to the Company and thereafter deleted from the personal computer/device.
These documents and items must be returned whether in Executive’s possession, work area, home, vehicle or in the wrongful
possession of any third party with Executive’s knowledge or acquiescence, and whether prepared by the Company or any other
person or entity.

 

    	Page | 18

    	 

    

I HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND
ITS TERMS.

 

		(SEAL)	 
	Executive’s Signature	 	Date:
		 	 
	 	 	 
	Print Executive Name	 	 

 

 

	The signature above was witnessed by	 	 
	 	 	 
	 	 	 
	Witness’ Signature	 	Date:
	 	 	 
		 	
	Witness’ Name	 	

 

    	Page | 19

    	 

    

  

SCHEDULE C

TO 

EMPLOYMENT AGREEMENT 

FORM OF 

SEVERANCE AND RELEASE
OF CLAIMS AGREEMENT

 

This Confidential Severance
and Release of Claims Agreement (“Agreement”), dated as of [insert date], is between[*] (“Employee”},
and Patheon Pharmaceuticals Services Inc. (the “Company”), (collectively the “Parties”).

 

1.          Termination

 

Employee’s
employment with the Company terminates effective [insert date] unless terminated earlier by either Party (hereinafter “Separation
Date”). Employee hereby represents and warrants that: (a) Employee has authority to enter into this Agreement on his or
her own behalf and on behalf of his or her heirs and assigns; (b) Employee has not transferred, in whole or in part, any rights
related to his or her employment with the Company and (c) Employee intends to settle any and all claims that Employee may have
against the Company as a result of the Company’s hiring Employee, his or her employment with the Company and the termination
of his or her employment with the Company.

 

2.         Payments
to Employee Upon Separation

 

(a)      The Company shall pay Employee the following less applicable
taxes and withholdings:

 

		i.	any accrued and unused paid time off (“PTO”) and wages earned through to the Separation
Date, regardless of whether Employee signs and/or revokes this Agreement

 

The
payment in sub-section i. will be paid on the first payroll date after the Separation date.

 

(b)      As consideration for entering into
this Agreement and subject to Employee’s compliance with all of its terms and non-revocation of the release provisions,
the Company shall provide Employee the benefits set forth below as follows:

 

	 	i.	a Severance Payment of $[*], based on 12 months of base salary.

 

		ii.	Employee’s benefits coverage will terminate at the end of the month in which Employee
separates until Employee elects COBRA coverage. The Company will pay the COBRA premiums to continue coverage under the Company’s
group health plans for six (6) months immediately following the Separation Date provided Employee elects COBRA. COBRA premium subsidy
applies to the following benefits: medical (including prescription drug benefits), dental, vision and Employee Assistance Plan
(EAP) coverage. Nothing in this Agreement shall constitute a guarantee of COBRA continuation coverage or benefits. Note that employees
age 64 and older should: (1) review the Health Summary
Plan Description under the Additional Information Section- Special Medical Provisions to understand how the DSM plan coordinates
with Medicare and (2) contact Medicare prior to their termination date to be sure they understand whether they need to enroll
for Medicare as well as how temporary continuation of coverage under COBRA, under the DSM plan, coordinates with Medicare. In
order to receive continued health coverage and any associated COBRA premium subsidy, Employee shall be solely responsible for
all obligations in electing COBRA continuation coverage following employment termination and taking all steps necessary to qualify
for such coverage. At the conclusion of the six (6) month COBRA premium subsidy period, Employee will be responsible for the payment
of the full premiums required under COBRA (including applicable administrative fees) for the remainder of the COBRA period. Employee’s
continued participation, in any employee benefit plans other than medical, dental, vision and the Employee Assistance Plan will
be determined by the terms of those plans as of the Separation Date or as otherwise required by law. Except as expressly provided
for in this Agreement, Employee shall not accrue any benefits (including but not limited to vacation or paid time off (PTO) under
any Company plan or policy after the Separation Date, provided however that nothing in this agreement shall affect any vested
benefits to which Employee is entitled pursuant to such employee benefit plans.

 

 

    	Page | 20

    	 

    

 

(c)      Employee specifically
acknowledges and agrees that the benefits set forth in Section 2(b) are in addition to any benefit to which he would otherwise
be entitled. Employee will not at any time seek additional consideration or remedy in any form from the Company except the benefits
expressly set forth in this Agreement, which do not correspond to any required regular duties or services by Employee on behalf
of the Company.

 

3.        Compliance with Restrictive Covenants.

 

Employee’s
compliance with any confidentiality and restrictive covenant obligations is a material condition of the Company’s payment
of the benefits set forth in Section 2(b) above.

 

4.        Release.

 

(a)      For and in consideration
of the Company entering this Agreement, including without limitation the Severance Payment and other benefits in Section 2(b),
which are being provided in exchange for Employee’s execution of this Release and would not be provided absent Employee’s
execution of this Agreement, Employee, for himself and his or her heirs, executors, administrators, assigns, successors and agents
(collectively, the “Employee’s Affiliates”) hereby fully and without limitation releases and forever
discharges the Company and all parent, subsidiary, and affiliated corporations and their respective officers, directors, agents,
representatives and employees, and each of their respective successors and assigns, agents, representatives, shareholders, owners,
officers, directors, employees, consultants, attorneys, auditors, accountants, investigators, affiliates, successors and assigns
(collectively the “Releasees”), both individually and collectively, from any and all waivable rights, claims,
demands, liabilities, actions, causes of action, damages, losses, costs, expenses and compensation, of whatever nature whatsoever,
known or unknown, fixed or contingent, which Employee or any of Employee’s Affiliates has or may have or may claim to have
against any of the Releasees by reason of any matter, cause, or thing whatsoever, from the beginning of time to the date Employee
signs this Agreement (“Claims”), arising out of, based upon, or relating to his or her employment or the termination
of his or her employment with the Company, to the maximum extent permitted by law. Nothing in this Agreement shall limit Employee
from filing a lawsuit for the sole purpose of enforcing his Employee’s rights under this Agreement.

 

(b)       The Claims released
by Employee include, but are not limited to, any Claims arising out of or based on: Title VII of the Civil Rights Act of 1964,
the Americans with Disabilities Act, the Age Discrimination in Employment Act, the Civil Rights Act of 1991, the Family Medical
Leave Act, Sections 1981 through 1988 of Title 42 of the United States Code, the Employee Retirement Income Security Act of 1974
(“ERISA”) (except for any vested benefits under any tax qualified benefit plan), the Immigration Reform and Control
Act, the Worker Adjustment and Retraining Notification Act, the Occupational Safety and Health Act, the Fair Credit Reporting
Act, and the Sarbanes-Oxley Act of 2002 (in each case as the same may be amended from time to time); The Massachusetts Fair Employment
Practices Law (M.G.L. ch. 151B), The Massachusetts Equal Rights Act, The Massachusetts Equal Pay Act, the Massachusetts Privacy
Statute and/or The Massachusetts Civil Rights Act, as well as any other discrimination and employment statutes that may apply
to you, all as amended; fraud, misrepresentation, retaliation, negligence, defamation, infliction of emotional distress or other
tort, common law, breach of contract (whether express or implied, written or oral) or covenant, violation of public policy or
wrongful termination; state or federal wage and hour laws; or any other state or federal law, rule, or regulation dealing with
the employment relationship, except those claims which may not be released herein as a matter of law. The released Claims also
include any Claims by Employee for compensation, wages, back pay, reinstatement or re-employment, bonuses, or benefits of any
kind or any nature arising out of, based upon, or relating to his or her employment or the termination of his or her employment
with the Company and/or his or her service as an officer of any of the Releasees, and/or any agreement or compensation arrangement
between Employee and any of the Releasees.

 

    	Page | 21

    	 

    

 

(c)      Employee’s
right to file or participate in the investigation of any administrative charge against the Company or the Releasees filed with
any government agency is excluded from the foregoing release. Nothing in this Agreement prevents Employee from filing a charge
or complaint with, or from participating in an investigation or proceeding conducted by, the Equal Employment Opportunity Commission
(EEOC), National Labor Relations Board (NLRB), Department of Labor (DOL), or any other governmental agency including, but not
limited to, (a) providing truthful testimony in any legal proceeding to which Employee is a party, (b) providing truthful testimony
if Employee is legally compelled to do so, (c) providing truthful information to the extent the Employee is required to do so
by law, (d) providing truthful information in any charge or complaint with the EEOC, NLRB, DOL or other governmental agency, or
(e) providing truthful information in the course of participating in an investigation or proceeding conducted by the EEOC, NLRB,
DOL, or any other governmental agency; but as to all of the claims that Employee has released as provided above, to the extent
allowable by law, the Employee is waiving the Employee’s right to receive any individual relief in any such investigation
or proceeding.

 

(d)       Release under the Older Workers Benefits
Protection Act.

 

A special federal law applies
to the release of a claim for age discrimination. For Employee to relinquish a claim for age discrimination, certain requirements
must be met. By signing this Agreement, Employee acknowledges and agrees that the following requirements have been met:

 

	 	i. 	The Agreement is written in language which is readily understandable.

 

	 	ii. 	Employee understands that he or she is relinquishing, among other claims, any and all claims arising under the Age Discrimination
in Employment Act of 1967 (29 U.S.C. § 621 et seq.), which
he or she has or may have against the Company and/or the Releasees which he or she might assert as of the date of the Agreement,
but that he or she does not waive any claim for age discrimination that may arise after the date of this Agreement.

  

		iii.	Employee is informed that he or she should consult an attorney regarding this Agreement if that
is Employee’s wish, and has been given an ample opportunity to do so.

 

    	Page | 22

    	 

    

 

		iv.	This Agreement will not be effective until seven (7) days after Employee signs it (“Revocation
Period”); Employee may revoke it at any time during the Revocation Period by providing written notice to [insert contact].

 

	 	v.	The Company shared this Agreement with Employee on [insert date]. Employee has been allowed at least [*]days, until 5:00
p.m. EST on [insert date] to consider it before Employee signs and returns it to assure that Employee has ample time to
consider it, although Employee may do so in less time. This Agreement is the product of negotiations and any agreed-upon changes
do not re-start the [*]-day consideration period.

 

5.        Waiver of Applicable Release Laws.

 

(a)      Employee
understands and agrees that the release provided herein extends to all Claims released above whether known or unknown, suspected
or unsuspected, which may be released as a matter of law. Employee expressly waives and relinquishes any and all rights he may
have under state law that prohibits the general release of unknown claims.

 

(b)       It is the intention
of each party through this Agreement to fully, finally and forever settle and release the Claims as set forth above. In furtherance
of such intention, the release herein given shall be and remain in effect as a full and complete release of such matters notwithstanding
the discovery of any additional Claims or facts relating thereto.

 

(c)      Employee
specifically agrees and represents all of the following: (i) he or she has read carefully the terms of this Agreement, including
the full and final releases contained herein; (ii) Employee has had an opportunity to and has been encouraged to review this Agreement,
including the releases contained herein, with an attorney of his or her choice; (iii) Employee understands the meaning and effect
of the terms of this Agreement, including the releases contained herein; (iv) Employee’s decision to sign this Agreement,
including the releases contained herein, is of his or her own free and voluntary act without compulsion of any kind; (iv) neither
Employee nor anyone acting on his or her behalf has filed any complaint or charges against the Company or any other Releasee with
any local, state or federal court or any other governmental or regulatory body, agency or commission; (v) in exchange for signing
this Agreement, Employee has received or shall receive something of value from the Company which he or she would not otherwise
be entitled to receive; (vi) no promise or inducement not expressed herein has been made to Employee; and (vii) Employee has adequate
information to make a knowing and voluntary waiver.

 

6.        Cooperation.

 

After
the Separation Date, Employee agrees to cooperate with the Company’s reasonable requests for information or assistance related
to (i) the transition of duties, (ii) any investigations (including internal investigations) and audits of the Company’s
current or past conduct and business and accounting practices and (iii) the Company’s defense of, or other participation
in, any administrative, judicial, or other proceeding arising from any charge, complaint or other action which has been or may
be filed relating to the period during which Employee was employed by the Company, except that the Cooperation Clause will in
no way be used to limit the Employee’s rights under Section 4(c) herein. The Company will promptly reimburse Employee for
his or her reasonable, customary and documented out-of-pocket business expenses in connection with the performance of the duties
under this Section. Employee further agrees not to make any defamatory, derogatory, disparaging or critical statements about the
Company and/or any Releasees or any of the services or products of the Company or the Releasees, except that Employee may testify
truthfully pursuant to subpoena.

 

    	Page | 23

    	 

    

 

7.        Confidentiality

 

Employee
agrees that he or she will keep the terms and amount of this Agreement completely confidential, and that he or she will hereafter
disclose such information to anyone except his or her spouse or partner, attorneys and their current law firm employees, or accountant
(who shall all be advised of this confidentiality provision and agree to be bound by it), or as may be required by law, court
order or in proceedings relating to the parties’ rights or obligations under this Agreement. Employee agrees to provide
reasonable written notice to the Company in the event that a person or entity not a party to this Agreement attempts to compel
from him or her the production of this Agreement or the contents thereof, so that the Company may contest such disclosure at its
discretion. Employee represents and warrants that Employee has not already made any communication or disclosure that violates
this confidentiality provision.

 

8.        No Admission

 

This
Agreement and compliance with this Agreement shall not be construed as an admission by the Company of any liability whatsoever,
or as an admission by the Company of any violation of the rights of Employee or any person, or any violation of any order, law,
statute, duty, or contract whatsoever against Employee or any person. The Company specifically denies and disclaims any liability
to Employee or any other person for any alleged violation of the rights of Employee or any person, or for any alleged violation
of any order, law, statute, duty, common law rule or contract on the part of the Company.

 

9.        Remedies.

 

In the event of a breach
or threatened breach of this Agreement, the Company and its successors or assigns, in addition to other rights and remedies existing
in their favor, shall be entitled to seek specific performance and/or injunctive or other equitable relief from a court of competent
jurisdiction in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security).

 

10.      Severability.

 

If
any one or more of the provisions contained herein (or parts thereof), or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity and enforceability of any such provision in every
other respect and of the remaining provisions hereof will not be in any way impaired or affected, it being intended that all of
the rights and privileges shall be enforceable to the fullest extent permitted by law, except that this provision will in no way
be used to limit the Employee’s rights under Paragraph 4(c) herein.

 

11.      Entire Agreement.

 

This Agreement represents
the sole and entire agreement among the Parties and, except as expressly stated herein, supersedes all prior agreements, negotiations
and discussions among the parties with respect to the subject matters contained herein. No provision of this Agreement may be amended
or modified unless such amendment or modification is agreed to in writing. Employee, however, understands and agrees that any restrictive
covenants Employee executed during his or her employment with the Company, including without limitation, any confidentiality, non-competition
and non-solicitation obligations, shall remain in full force and effect and that this Agreement does not supersede such obligations.

 

12.      Waiver.

 

No
waiver by either Party hereto at any time of any breach of, or compliance with, any condition or provision of this Agreement to
be performed by any other Party hereto may be deemed a waiver of similar or dissimilar provisions or conditions at the same time
or at any prior or subsequent time, nor shall the failure of or delay by either of the parties in exercising any right, power
or privilege hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other
such right, power or privilege.

 

    	Page | 24

    	 

    

 

13.      Successors and Assigns.

 

(a)       To the extent
permitted by applicable law, the Company may assign this Agreement to any subsidiary or corporate affiliate or otherwise, or to
any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and permitted successors and
assigns.

 

(b)       Employee hereby
represents and warrants that: (i) Employee has authority to enter into this Agreement on his or her own behalf and on behalf of
his or her heirs and assigns; (ii) Employee has not transferred, in whole or in part, any legal claims and/or rights related to
his or her employment with the Company and (iii) Employee intends to settle any and all claims that Employee may have against the
Company as a result of the Company’s hiring Employee, his or her employment with the Company and the termination of his or
her employment with the Company.

 

(c)       The Employee may
not assign this Agreement or any part hereof. Any purported assignment by the Employee shall be null and void from the initial
date of purported assignment.

 

14.      Governing Law and Venue.

 

This Agreement and any
claims arising out of this Agreement will be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts,
without giving effect to the principles of conflicts of laws of Massachusetts. Any claims or legal actions by one party against
the other will be commenced and maintained in state or federal court located in Massachusetts, and you submit to the jurisdiction
and venue of any such court. The Parties hereby irrevocably submit to the exclusive jurisdiction of such courts and waive the defense
of inconvenient forum to the maintenance of any such action or proceeding in such venue. EACH PARTY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW, ANY RIGHT IT OR HE/SHE MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING OUT OF OR RELATING TO
THIS RELEASE OR THE AGREEMENT AND EMPLOYEE’S EMPLOYMENT BY THE COMPANY.

 

15.      Counterparts.

 

This Agreement may be
executed in counterparts, each of which will be deemed to be an original as against any Party that has signed it, but both of which
together will constitute one and the same instrument.

 

16.      Miscellaneous Provisions.

 

(a)       The language in
all parts of this Agreement must be in all cases construed simply according to its fair meaning and not strictly for or against
any Party. Whenever the context requires, all words used in the singular must be construed to have been used in the plural, and
vice versa, and each gender must include any other gender. The captions of the Sections of this Agreement are for convenience only
and must not affect the construction or interpretation of any of the provision herein.

 

    	Page | 25

    	 

    

 

(b)       Each provision of
this Agreement to be performed by a Party hereto is both a covenant and condition, and is a material consideration for the other
Party’s performance hereunder, and any breach thereof by the Party will be a material default hereunder. All rights, remedies,
undertakings, obligations, options, covenants, conditions and agreements contained in this Agreement are cumulative and no one
of them is exclusive of any other. Time is of the essence in the performance of this Agreement.

 

(c)       Each Party acknowledges
that no representation, statement or promise made by any other Party, or by the agent or attorney of any other Party, except for
those in this Agreement, has been relied on by his or her, or it in entering into this Agreement.

 

(d)       Each Party to
this Agreement will cooperate fully in the execution of any and all other documents and in the completion of any additional actions
that may be necessary or appropriate to give full force and effect to the terms and intent of this Agreement.

 

    	Page | 26

    	 

    

 

IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the dates indicated below.

 

“Employee”

[DRAFT:
NOT FOR SIGNATURE]

Date:

 

“Company”

Patheon
Pharmaceutical Services, Inc.

[DRAFT:
NOT FOR SIGNATURE]

    	Page | 27Exhibit 10.22

 

 

 

	CLASSIFIED PERSONNEL INFORMATION	 	
	 	 	 
	 	 	 

 

	 	 	DSM
    Corporate Human Recourses
	 	 	Executive Compensation
	 	 	 
	PERSONAL
    & CONFIDENTIAL	 	Het Overloon
    1
	Mr. L. Utiger	 	M11 TE Heerten
		 	P.O. Box 6500
		 	6401 JH Heerlen
	 	 	Netherlands

 

		 
	Date	Contact person
	July 24, 2013	M. Dijk
	Our reference	phone +31-45-578
    2191
	356 EC/13	martin.dijk@dsm.com

 

Re
Offer of Employment

 

Dear
Mr. Utiger, 

 

DSM
Pharmaceutical Products (DPP) is pleased to offer you employment with DSM Pharmaceutical Products Inc. in a Senior Management
role (content and title to be discussed). The conditions of the employment are as follows. If you agree to these conditions, please
sign and return the attached copy of this letter and the addendum. 

 

All
amounts in this offer letter are gross amounts (before taxation): all payments will be made in US dollars. Payments will be subject
to all required federal, state and local taxes, social security premiums and other withholdings.

 

	Employer	:	DSM Pharmaceutical
    Products Inc.
		 	 
	Commencement	:	August 19,
    2013
		 	 
	Employment status	:	Employment 'at
    will'
		 	 
	Position	:	President DSM
    Pharmaceutical Products
		 	 
	Work Location	:	Home office in
    Middletown. After two years Parsippany New Jersey, USA
		 	 
	Annual Base Salary	:	USD 470.000 per annum.
    Annual Base Salary to be reviewed yearly in accordance with DSM's remuneration policy for Executives. Your first merit review
    will be in July of 2014.
	 	 	 

 

    	 

    	 

    

 

	CLASSIFIED
                                         PERSONNEL INFORMATION

        Page
        2 of 4

        July 24, 2013

        Re   Offer of Employment

        356
        EC/2013
	

 

	 	 	 
	Short Term Cash Incentive (bonus)
         
	:	You will be eligible to participate
    in the annual Short Term Cash Incentive Scheme. The target bonus opportunity is 45% of your Annual Base Salary; the maximum
    pay-out is 90% of your Annual Base Salary. The bonus will be related to business results and the realization of personal targets.
    Realization and payout of the Short Term Incentive is at the sole discretion of the Managing Board.
         

	 	 	 
	Long
                                        Term
                                        Incentive (stock
                                        incentives)

         
	:	You belong to the group of Executives
    who are eligible for stock incentives (within the current scheme, this would involve Stock Options or Stock Appreciation Rights)
    according to the DSM N.V. Stock Incentive Plan. The typical basic grant offered is 24,000 stock incentives. However, the granting
    of stock incentives remains a decision at the discretion of the Managing Board of Directors of DSM N.V. Tax consequences of
    acceptance and/or vesting and/or exercise of stock incentives are to be borne by you. For the first year stock incentives
    may be granted in 2014.
         

	 	 	 
	Retirement
                                        Plan
                                        401(k)

         
	:	You have the opportunity to participate
    in the DSM USA Defined Contribution Plan, a qualified 401(k) retirement plan ((DSM 401k Plan). The DSM 401(k) Plan will provide
    an employer matching contribution equal to 100% of the first three percent (3%) of your deferral contributions, plus fifty
    (50%) of the next three percent (3%) of your eligible compensation contributed as deferral contributions. The DSM 401(k) Plan
    also provides for automatic enrollment at three percent (3%) of your base salary unless you decline participation and also,
    permits participants who have attained 50 years of age before the end of the calendar year to make certain additional "catch-up"
    contributions each year. Please refer to the Summary Plan Description for the DSM 401(k) Plan for complete details regarding
    plan participation and benefits.
	 	 	 
	Defined Contribution Plan

         
	:	Subject to applicable limitations
    under the Code, each year an additional contribution equal to five percent (5%) of your eligible compensation will be contributed
    to your account under the DSM USA Defined Contribution Plan. This contribution is subject to a three year (3) vesting requirement.
        

	 	 	 
	Company
                                        Car

         
	:	You will be provided with a company
    car according to the policies for DSM Executives. Gas, maintenance and insurance are included in this respect. You also have
    the option to receive a car allowance USD 1,450 per month, less applicable taxes instead of the company provided car.
         

	 	 	 

 

    	 

    	 

    

 

	CLASSIFIED
                                         PERSONNEL INFORMATION

        Page
        3 of 4

        July 24, 2013

        Re  
        Offer of Employment

        356
        EC/2013
	

 

	 	 	 
	Holidays/Vacation	:	You
    will be subject to local rules with respect to working hours, annual vacation entitlement and (public) holidays. On an annual
    basis you will have 25 vacation days (5 weeks).
	 	 	 
	Health
    and Welfare Benefits

        
	:	You have the
    opportunity to participate in a comprehensive health and welfare program offered to all DSM US employees.
	 	 	 
	Executive
                                        Benefits Program
	:	As
                                         an executive within the US Region, you will be eligible for a supplemental executive
                                         benefits program. Further details will be provided.

	 	 	 
	Business Expenses	:	Business
    expenses will be
    reimbursed within
    reasonable limits and
    in accordance with
    regulation and best
    practices applicable within
    DSM Services USA.
	 	 	 
	Secrecy,
                                        confidentiality, Non-competition and non-soliciting

        
	:	See the attached
    agreement which is part of this letter.
	 	 	 
	Severance	:	Should DSM terminate
    your employment for any reason, other than for cause, you will receive a severance payment of 6 months base pay in accordance
    to the terms of DSM's Severance Agreement.
	 	 	 
	Temporary
                                        accommodation

         
	:	You
                                        indicated that you want to remain living in Middletown MD for the coming two years. During
                                        this period DPP will facilitate accommodation in the Parsippany area up to a maximum of
                                        USD 2.500 per month. 

	 	 	 
	Moving	:	After two
    years you will move with your family to the Parsippany area. DPP will reimburse the cost of this move in line with the DSM
    Services USA Tier 3 Employee Relocation Guide.

 

Please
not that your employment with DPP is contingent upon the fulfillment of all the three following conditions:

 

	 	 -	A
    successful completion of your reference check and drug screen results.
	 	 -	There
    is no non-compete
    clause that
    will prevent you of
    being employed with
    DPP.
	 	 -	You
    are in the
    possession of all
    the required documents
    to reside and
    to work in
    the US.

 

If you
fail to fulfill one of these conditions this offer of employment will be held invalid and shalt not apply and DSM will not be
liable to reimbursement of any cost or to provide any indemnity. 

 

Finally,
please note that in the various interviews you have had prior to this offer, you have been made aware that DSM is in partnership
discussions with respect to DPP.

 

    	 

    	 

    

 

	CLASSIFIED
                                         PERSONNEL INFORMATION

        Page
        4 of 4

        July 24, 2013

        Re  
        Offer of Employment

        356
        EC/2013
	

 

 

Please
acknowledge this offer of employment by signing and returning a copy of this letter by July 25, 2013 to Mr. M. Dijk, P.O. Box
6500, 6401 JH Heerlen, Netherlands.

 

This
offer of employment is valid until July 31, 2013, after which it lapses and no rights can be derived from it any longer.

 

Yours
sincerely,

 

	/s/ Stefan Mechelmans	/s/ Janna Chilton
	Stefan
    Mechelmans	Janna
    Chilton
	SVP Global Rewards	VP, HRSSC

 

Accepted
and agreed:

 

	/s/ L. Utiger	 
	L. Utiger	 
	 	 
	Middletown,
    MD 	July
    24th, 2013
	(Place)	(Date)

 

 

    	 

    	 

    

 

	CLASSIFIED
    PERSONNEL INFORMATION
        Corporate
        Human Resources

        Executive
        Compensation

        Het
        Overloon 1, Heerlen

        P.O.
        Box 6500, 6401 JH Heerlen, The Netherlands
	 
	 	 
	Ref:
    356a EC/13 addendum to 356 EC/13	 July
    9, 2013

 

Confidentiality,
Non-Compete and Non-Solicitation Agreement

Royal
DSM N.V. including all subsidiaries belonging to the DSM group with its registered office at Heerlen, the Netherlands,
hereinafter referred to as "DSM" 

and 

Mr.
L. Utiger, residing at                               hereinafter referred to as "the Employee", 

Taking
into account the employment of Employee with DPP, DSM and the Employee declare to have mutually agreed on the following
conditions as part of the offer letter between both parties. 

Clause
1. Confidentiality

The
Employee shall throughout the duration of his employment and after the termination thereof for whatever reason, refrain from disclosing
in any manner to any individual (including other personnel of DSM, unless such personnel must be informed in connection with
their work for DSM) any information of a confidential nature concerning DSM, which has become known to the Employee as a result
of his employment with DSM and of which the Employee knows or should have known it is/was of a confidential nature. Provided,
however, this clause does not preclude disclosure under subpoena or other administrative or judicial order from a court or regulatory
authority of competent jurisdiction. In the event the subpoena or administrative order occurs (including after termination of
the employment relationship), employee will promptly notify DSM of said subpoena or administrative action and cooperate with DSM
if it chooses to seek a protective order.

On
termination of the employment relationship, the Employee is obliged to return to DSM any records or documents, of any nature whatsoever,
that he has in his possession which concern DSM.

In
accordance with, and without limitation of, Clause 7, if the Employee fails to fulfil the aforesaid obligations, he will be liable
to compensate DSM for any damage incurred by DSM as a result of Employee's failure.

Clause
2. Non-compete

The
Employee shall throughout the duration of his/her employment and for a period of six months after termination thereof, not be
engaged or involved in any manner, directly or indirectly, whether on the account of the Employee or on the account of third parties,
in any enterprise which conducts activities in a field similar to or otherwise competes with that of DSM nor act, directly or
indirectly, as intermediary in whatever manner. This obligation applies solely to any work activities or involvement of the Employee
within the territory of DPP, in particular. 

The
Employee remains under the obligation to adhere to this non-competition clause if the company of DSM or a part thereof
is transferred by DSM to a third party and his employment terminates before or at the time of such transfer, white in the event
of continuation of the employment agreement the Employee would have entered into the employment of the acquirer by operation of
law.

    	 

    	 

    

  

	CLASSIFIED PERSONNEL INFORMATION
        Corporate
        Human Resources

        Executive
        Compensation

        Het
        Overloon 1, Heerlen

        P.O.
        Box 6500, 6401 JH Heerlen, The Netherlands
	 
	 	 
		 July
    9, 2013

 

Clause
3. Assignment of Inventions and Patents

 

To
the extent that they do not vest in DSM by operation of law, the Employee hereby irrevocably assigns and transfers to DSM any
right associated with patents, models, designs, any work that may be subject to copyright protection and/or any other intellectual
property right arising out of or in connection with the Employee's employment with DSM. To the extent that an assignment and transfer
of future rights is not (fully) possible or enforceable, the Employee shall be obliged to assign and transfer these rights on
the moment these rights come into existence. The Employee shall both, while in the employment of DSM and thereafter, immediately
inform DSM of the existence of aforementioned rights and assign and transfer these rights to DSM without undue delay and for their
entire duration and irrevocably authorizes DSM herewith to take all necessary steps, including executing on behalf of the Employee
all deeds and other documents as may be required, that may be necessary to effect the assignment and transfer.

 

The
Employee acknowledges that the salary received by him in relation to him employment with DSM includes an allowance for the fact
that intellectual property rights will not be assigned to the Employee and that, insofar as applicable, the Employee will assign
and transfer these rights to DSM. 

 

DSM
is not obliged to patent the Employee's inventions. Any costs incurred by the Employee as a result of the above-mentioned
obligations shall be borne by DSM. 

 

Clause
4. Non-Solicitation of Employees

 

The Employee shall not for the period of two (2) years following termination of the employment relationship, whether directly
or indirectly through third parties including but not limited to recruitment or search firms, employ, solicit or endeavor
to entice away from DSM, Royal DSM N.V. or any of their subsidiaries, any person who is or was during a period immediately
preceding the date at which the employment agreement between the Employee and DSM was terminated, an employee of DSM, Royal
DSM N.V. or any of their subsidiaries.

 

Clause
5. Non-Solicitation of Customers

 

The
Employee shall not for the period of two (2) years following the termination of the employment relationship, whether directly
or indirectly on Employee's own behalf or on behalf of DSM or any other person, in any way interfere with DSM's relationship with
any company and/or person who shall at any time during the term of the employment relationship have been directly or indirectly
a customer of DSM, Royal DSM N.V. or any of their affiliates.

 

Clause
6. Employee Representations

 

The Employee
herein represents and warrants that he is not subject to any covenant not to compete with any former employer or third party.
Employee understands that it is not the intention of DSM to receive or obtain the trade secrets or confidential information of
others. Accordingly, Employee agrees that he will not disclose or use during the course of his employment with DSM any proprietary
information that he may have acquired from another. Further, Employee agrees that he will not bring to DSM any documents, in any
form, containing proprietary or confidential information of others.

    	 

    	 

    

 

	CLASSIFIED
                                         PERSONNEL INFORMATION

        Corporate
        Human Resources

        Executive
        Compensation

        Het
        Overloon 1, Heerlen

        P.O.
        Box 6500, 6401 JH Heerlen, The Netherlands
	 
	 	 
		 July
    9, 2013

Clause
7. Remedies

 

Employee
acknowledges, understands, and agrees that the restrictions contained in clauses 1, 2, 3, 4, and 5 are necessary to protect the
legitimate business interests and good will of DSM and that any breach by Employee of such clauses will cause substantial and
irreparable harm to DSM for which monetary damages may be an inadequate remedy. Accordingly, DSM shall in any such event be entitled
to seek injunctive and other forms of equitable relief to prevent such breach or threatened breach, and the prevailing party shall
be entitled to recover from the other, the prevailing party's costs (including, without limitation, reasonable attorneys' fees)
incurred in connection with enforcing clauses of this agreement. Employee agrees that the rights of DSM to obtain injunctive relief
shall not be considered a waiver of DSM's rights to seek any other remedies that it may have at law or in equity, including monetary
damages.

 

Made
out in duplicate and signed at                               , on July 24th, 2013

	DSM,	The
    Employee,
	 	 
	 	/s/ Mr. L.
    Utiger
	/s/ J.
    Chilton	Mr. L. Utiger
	J. Chilton	 
	VP, HR Shared Services

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