Document:

2006 Equity Incentive Plan

 Exhibit 10.3 
 THERMAGE, INC. 
 2006 EQUITY INCENTIVE PLAN 
 (As Amended April 18, 2008) 
 1.
Purposes of the Plan. The purposes of this Plan are: 
  

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	•	 	 to promote the success of the Company’s business. 

 The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock
Appreciation Rights, Performance Units and Performance Shares. 
 2. Definitions. As used herein, the following definitions will
apply: 
 (a) “Administrator” means the Board or any of its Committees as will be administering the Plan, in
accordance with Section 4 of the Plan. 
 (b) “Applicable Laws” means the requirements relating to the
administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign
country or jurisdiction where Awards are, or will be, granted under the Plan. 
 (c) “Award” means,
individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares. 
 (d) “Award Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each
Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 
 (e)
“Board” means the Board of Directors of the Company. 
 (f) “Change in Control” means the
occurrence of any of the following events: 
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by
the Company’s then outstanding voting securities; or 

 (ii) The consummation of the sale or disposition by the Company of all or substantially
all of the Company’s assets; 
 (iii) A change in the composition of the Board occurring within a two-year period, as a
result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of the effective date of the Plan, or (B) are elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company); or 
 (iv) The consummation of a merger or
consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding
or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding
immediately after such merger or consolidation. 
 (g) “Code” means the Internal Revenue Code of 1986, as
amended. Any reference to a section of the Code herein will be a reference to any successor or amended section of the Code. 
 (h) “Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board in accordance with Section 4 hereof. 
 (i) “Common Stock” means the common stock of the Company. 
 (j) “Company” means Thermage, Inc., a Delaware corporation, or any successor thereto. 
 (k) “Consultant” means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render
services to such entity. 
 (l) “Director” means a member of the Board. 
 (m) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code, provided that in
the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from
time to time. 
 (n) “Employee” means any person, including Officers and Directors, employed by the Company
or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 
 (o) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

 (p) “Exchange Program” means a program under which (i) outstanding
Awards are surrendered or cancelled in exchange for Awards of the same type (which may have lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any
outstanding Awards to a financial institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of any Exchange
Program in its sole discretion. 
 (q) “Fair Market Value” means, as of any date, the value of Common Stock
determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system,
including without limitation the Nasdaq National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such
exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the
Common Stock on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (iii) For purposes of any Awards granted on the Registration Date, the Fair Market Value will be the initial price to the public as set forth in the final prospectus included within the registration statement in Form
S-1 filed with the Securities and Exchange Commission for the initial public offering of the Company’s Common Stock; or 
 (iv) In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator. 
 (r) “Fiscal Year” means the fiscal year of the Company. 
 (s)
“Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (t) “Inside Director” means a Director who is an Employee. 
 (u) “Nonstatutory Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an
Incentive Stock Option. 
 (v) “Officer” means a person who is an officer of the Company within the meaning
of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (w) “Option”
means a stock option granted pursuant to the Plan. 
 (x) “Optioned Stock” means the Common Stock subject to
an Award. 

 (y) “Outside Director” means a Director who is not an Employee.

 (z) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 
 (aa) “Participant” means the holder of an outstanding Award. 

(bb) “Performance Share” means an Award denominated in Shares which may be earned in whole or in part upon attainment
of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10. 
 (cc)
“Performance Unit” means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other
securities or a combination of the foregoing pursuant to Section 10. 
 (dd) “Period of Restriction”
means the period during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of
target levels of performance, or the occurrence of other events as determined by the Administrator. 
 (ee)
“Plan” means this 2006 Equity Incentive Plan. 
 (ff) “Registration Date” means the
effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Company’s securities. 
 (gg) “Restricted Stock” means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or
issued pursuant to the early exercise of an Option. 
 (hh) “Restricted Stock Unit” means a bookkeeping entry
representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 8. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 
 (ii) “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is
being exercised with respect to the Plan. 
 (jj) “Section 16(b)” means Section 16(b) of the
Exchange Act. 
 (kk) “Service Provider” means an Employee, Director or Consultant. 
 (ll) “Share” means a share of the Common Stock, as adjusted in accordance with Section 14 of the Plan. 

(mm) “Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 9 is designated as a Stock Appreciation Right. 

 (nn) “Subsidiary” means a “subsidiary corporation”, whether
now or hereafter existing, as defined in Section 424(f) of the Code. 
 3. Stock Subject to the Plan. 
 (a) Stock Subject to the Plan. Subject to the provisions of Section 14 of the Plan, the maximum aggregate number of Shares
that may be issued under the Plan is 2,750,000 Shares, plus (i) any Shares that, as of the Registration Date, have been reserved but not issued pursuant to any awards granted under the Company’s 1997 Stock Incentive Plan (the “1997
Plan”) and are not subject to any awards granted thereunder, and (ii) any Shares subject to stock options or similar awards granted under the 1997 Plan that expire or otherwise terminate without having been exercised in full and Shares
issued pursuant to awards granted under the 1997 Plan that are forfeited to or repurchased by the Company, with the maximum number of Shares to be added to the Plan pursuant to clauses (i) and (ii) equal to 3,750,000 Shares. The Shares may
be authorized, but unissued, or reacquired Common Stock. 
 (b) Automatic Share Reserve Increase. The number of Shares
available for issuance under the Plan shall be increased on the first day of each Fiscal Year beginning with the 2007 Fiscal Year, in an amount equal to the least of (A) 1,800,000 Shares, (B) three and one-half percent (3.5%) of the
outstanding Shares on the last day of the immediately preceding Fiscal Year or (C) such number of Shares determined by the Board. 
 (c) Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock
Units, Performance Units or Performance Shares, is forfeited to or repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which
were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued pursuant to an Stock Appreciation Right will cease to be
available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will
not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Performance Units or Performance Shares are repurchased by the Company
or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future
grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and,
subject to adjustment as provided in Section 14, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options shall equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable
under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Section 3(b). 

 (d) Share Reserve. The Company, during the term of this Plan, will at all times
reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 4. Administration of
the Plan. 
 (a) Procedure. 
 (i) Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the
Plan. 
 (ii) Section 162(m). To the extent that the Administrator determines it to be desirable to qualify
Options granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered by a Committee of two or more “outside directors” within the meaning of
Section 162(m) of the Code. 
 (iii) Rule 16b-3. To the extent desirable to qualify transactions hereunder as
exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 
 (iv) Other Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which committee will be constituted to satisfy Applicable Laws. 

(b) Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific
duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 
 (i) to
determine the Fair Market Value; 
 (ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 
 (iv) to approve forms of Award Agreements for use under the Plan; 
 (v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 
 (vi) to determine the terms and conditions of any, and to institute any Exchange Program; 

 (vii) to construe and interpret the terms of the Plan and Awards granted pursuant to the
Plan; 
 (viii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations
relating to sub-plans established for the purpose of satisfying applicable foreign laws; 
 (ix) to modify or amend each Award
(subject to Section 19(c) of the Plan), including the discretionary authority to extend the post-termination exercisability period of Awards; 
 (x) to allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section 15; 
 (xi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator; 
 (xii) to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due to such
Participant under an Award 
 (xiii) to make all other determinations deemed necessary or advisable for administering the
Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and
interpretations will be final and binding on all Participants and any other holders of Awards. 
 5. Eligibility. Nonstatutory Stock
Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units and Performance Shares may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 
 6. Stock Options. 
 (a) Limitations. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value
of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds $100,000, such Options will be treated
as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as of the time the Option with
respect to such Shares is granted. 
 (b) Term of Option. The term of each Option will be stated in the Award
Agreement. In the case of an Incentive Stock Option, the term will be ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a
Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the
Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement. 

 (c) Option Exercise Price and Consideration. 
 (i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined
by the Administrator, subject to the following: 
 (1) In the case of an Incentive Stock Option 
 a) granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent
(10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant.

 b) granted to any Employee other than an Employee described in paragraph (A) immediately above, the per Share
exercise price will be no less than 100% of the Fair Market Value per Share on the date of grant. 
 (2) In the case of a
Nonstatutory Stock Option, the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 
 (3) Notwithstanding the foregoing, Options may be granted with a per Share exercise price of less than one hundred percent (100%) of
the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 
 (ii) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the
Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 
 (iii)
Form of Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable
form of consideration at the time of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory note, (4) other Shares, provided Shares acquired directly or indirectly from the Company, (A) have
been owned by the Participant and not subject to substantial risk of forfeiture for more than six months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as
to which said Option will be exercised; (5) consideration received by the Company under a broker-assisted (or other) cashless exercise program implemented by the Company in connection with the Plan; (6) any combination of the foregoing
methods of payment; or (7) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws. 

 (d) Exercise of Option. 
 (i) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 
 An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator specify from
time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any consideration and
method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the
Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a
stockholder will exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or
other right for which the record date is prior to the date the Shares are issued, except as provided in Section 14 of the Plan. 
 Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
 (ii) Termination of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the
Participant’s death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than
the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination.
Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the
Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 
 (iii) Disability of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability,
the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as
set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s termination. Unless otherwise provided by the
Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his
or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

 (iv) Death of Participant. If a Participant dies while a Service Provider, the
Option may be exercised following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the option be exercised later than the
expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the Administrator.
If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s
will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following Participant’s death. Unless otherwise provided
by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time
specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 
 7. Restricted Stock.

 (a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and
from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 
 (b) Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction, the number of Shares granted, and such other terms and
conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed. 

(c) Transferability. Except as provided in this Section 7, Shares of Restricted Stock may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 
 (d)
Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 7, Shares of Restricted Stock covered by each
Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The Administrator, in its discretion, may
accelerate the time at which any restrictions will lapse or be removed. 
 (f) Voting Rights. During the Period of
Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

 (g) Dividends and Other Distributions. During the Period of Restriction, Service
Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares,
the Shares will be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 (h) Return of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which
restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 
 8. Restricted Stock
Units. 
 (a) Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the
Administrator. After the Administrator determines that it will grant Restricted Stock Units under the Plan, it shall advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number
of Restricted Stock Units. 
 (b) Vesting Criteria and Other Terms. The Administrator shall set vesting criteria in its
discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of
Company-wide, business unit, or individual goals (including, but not limited to, continued employment), or any other basis determined by the Administrator in its discretion. 
 (c) Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant shall be entitled to receive a
payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a
payout. 
 (d) Form and Timing of Payment. Payment of earned Restricted Stock Units shall be made as soon as
practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination of both. 
 (e) Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units shall be forfeited to the
Company. 
 9. Stock Appreciation Rights. 
 (a) Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted
to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 
 (b) Number of Shares. The Administrator will have complete discretion to determine the number of Stock Appreciation Rights granted to any Service Provider. 

 (c) Exercise Price and Other Terms. The per share exercise price for the Shares to
be issued pursuant to exercise of an Stock Appreciation Right shall be determined by the Administrator and shall be no less than one hundred percent (100%) of the Fair Market Value per share on the date of grant. Otherwise, subject to
Section 6(a) of the Plan, the Administrator, subject to the provisions of the Plan, shall have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. 
 (d) Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will
specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 
 (e) Expiration of Stock Appreciation Rights. An Stock Appreciation Right granted under the Plan will expire upon the date
determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(d) also will apply to Stock Appreciation Rights. 
 (f) Payment of Stock Appreciation Right Amount. Upon exercise of an Stock Appreciation Right, a Participant will be entitled to
receive payment from the Company in an amount determined by multiplying: 
 (i) The difference between the Fair Market Value
of a Share on the date of exercise over the exercise price; times 
 (ii) The number of Shares with respect to which the Stock
Appreciation Right is exercised. 
 At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in
cash, in Shares of equivalent value, or in some combination thereof. 
 10. Performance Units and Performance Shares. 
 (a) Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any time and
from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete discretion in determining the number of Performance Units and Performance Shares granted to each Participant. 
 (b) Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by the Administrator on
or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 
 (c) Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions (including, without limitation, continued status as a Service Provider) in its
discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to the Service Providers. The time period during which the performance objectives or other vesting
provisions must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will 

 
be evidenced by an Award Agreement that will specify the Performance Period, and such other terms and conditions as the Administrator, in its sole
discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide, divisional, or individual goals, applicable federal or state securities laws, or any other basis determined by the Administrator
in its discretion. 
 (d) Earning of Performance Units/Shares. After the applicable Performance Period has ended, the
holder of Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding
performance objectives or other vesting provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such
Performance Unit/Share. 
 (e) Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance
Units/Shares will be made as soon as practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an aggregate
Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof. 
 (f) Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance Units/Shares will be forfeited to the Company, and again will be available for
grant under the Plan. 
 11. Formula Awards to Outside Directors. 
 (a) General. Outside Directors will be entitled to receive all types of Awards (except Incentive Stock Options) under this Plan,
including discretionary Awards not covered under this Section 11. All grants of Awards to Outside Directors pursuant to this Section will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance
with the following provisions: 
 (b) Type of Option. If Options are granted pursuant to this Section they will be
Nonstatutory Stock Options and, except as otherwise provided herein, will be subject to the other terms and conditions of the Plan. 
 (c) No Discretion. No person will have any discretion to select which Outside Directors will be granted Awards under this Section or to determine the number of Shares to be covered by such Awards (except as provided in
Sections 11(g) and 14). 
 (d) Initial Award. Each person who first becomes an Outside Director following the
Registration Date will be automatically granted an Option to purchase twenty-five thousand (25,000) Shares (the “Initial Award”) on or about the date on which such person first becomes an Outside Director, whether through
election by the stockholders of the Company or appointment by the Board to fill a vacancy; provided, however, that an Inside Director who ceases to be an Inside Director, but who remains a Director, will not receive an Initial Award. 

 (e) Annual Award. Each Outside Director will be automatically granted an Option to
purchase twelve thousand five hundred (12,500) Shares (an “Annual Award”) on each date of the annual meeting of the stockholders of the Company beginning in 2008, if as of such date, he or she will have served on the Board for
at least the preceding six (6) months. 
 (f) Terms. The terms of each Award granted pursuant to this Section will
be as follows: 
 (i) The term of the Award will be ten (10) years. 
 (ii) The exercise price for Shares subject to Awards will be one hundred percent (100%) of the Fair Market Value on the grant date.

 (iii) Subject to Section 14, the Initial Award will vest and
become exercisable ratably over three (3) years, with 1/36th of the Shares subject to the Initial Award vesting monthly, provided that the
Participant continues to serve as a Director through each such date. 
 (iv) Subject to Section 14, the Annual Award will vest and become exercisable ratably over one (1) year, with 1/12th of the
Shares subject to the Annual Award vesting monthly, provided that the Participant continues to serve as a Director through each such date. 
 (g) Adjustments. The Administrator in its discretion may change and otherwise revise the terms of Awards granted under this Section 11, including, without limitation, the number of Shares and exercise
prices thereof, for Awards granted on or after the date the Administrator determines to make any such change or revision. 
 12. Leaves of
Absence/Transfer Between Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Service Provider will not cease to be an Employee in the case of
(i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed ninety
(90) days, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three (3) months following the
ninety-first (91st) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 
 13. Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such
Award will contain such additional terms and conditions as the Administrator deems appropriate. 
 14. Adjustments; Dissolution or
Liquidation; Merger or Change in Control. 
 (a) Adjustments. In the event that any dividend or other distribution
(whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or 

 
exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the
Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, may (in its sole discretion) adjust the number and class of Shares that may be delivered under the Plan
and/or the number, class, and price of Shares covered by each outstanding Award, the numerical Share limits in Section 3 of the Plan and the number of Shares issuable pursuant to Awards to be granted under Section 11. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 (c) Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the
Administrator determines, including, without limitation, that each Award be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. The Administrator shall not be
required to treat all Awards similarly in the transaction. 
 In the event that the successor corporation does not assume or
substitute for the Award, the Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable,
all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of
target levels and all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically
that the Option or Stock Appreciation Right will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 
 For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the
right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) received in the Change in Control by holders of Common Stock for
each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an
Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market
value to the per share consideration received by holders of Common Stock in the Change in Control. 

 Notwithstanding anything in this Section 14(c) to the contrary, an Award that vests,
is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a
modification to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 
 (d) Outside Director Awards. With respect to Awards granted to an Outside Director that are assumed or substituted for, if on the
date of or following such assumption or substitution the Participant’s status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant (unless such
resignation is at the request of the acquirer), then the Participant will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those Shares which would not
otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Performance Units and Performance Shares, all performance goals or other vesting criteria will be deemed achieved at
one hundred percent (100%) of target levels and all other terms and conditions met. 
 15. Tax Withholding. 
 (a) Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company
will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to
be withheld with respect to such Award (or exercise thereof). 
 (b) Withholding Arrangements. The Administrator, in
its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i) paying cash, (ii) electing to
have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (iii) delivering to the Company already-owned Shares having a Fair Market Value equal to
the minimum statutory amount required to be withheld. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 
 16. No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing the
Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without cause, to the extent
permitted by Applicable Laws. 
 17. Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the
Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant.

 18. Term of Plan. Subject to Section 22 of the Plan, the Plan will become effective upon its
adoption by the Board. It will continue in effect for a term of ten (10) years from the date adopted by the Board unless terminated earlier under Section 19 of the Plan. 
 19. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan will impair the rights of
any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s
ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 
 20. Conditions Upon Issuance of Shares. 
 (a) Legal Compliance. Shares will not be issued pursuant to
the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance.

 (b) Investment Representations. As a condition to the exercise of an Award, the Company may require the person
exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required. 
 21. Inability to Obtain Authority. The inability of the Company to obtain authority
from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to
issue or sell such Shares as to which such requisite authority will not have been obtained. 
 22. Stockholder Approval. The Plan will
be subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws.Employment Agreement between the Registrant and Richard Tajak

 Exhibit 10.25 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of
March 31, 2008 (the “Effective Date”) between APP Pharmaceuticals, LLC, a Delaware limited liability company (the “Company”) and Richard J. Tajak (the “Executive”). 
 RECITAL 
 The Company desires to
employ the Executive, and the Executive desires to be so employed by the Company, on the terms and subject to the conditions set forth in this Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the premises and the mutual promises set forth in
this Agreement, the Company and the Executive hereby agree as follows: 
  

	 	1.	Definitions. Unless otherwise defined herein, the capitalized terms defined in Exhibit A shall have the meanings therein specified for all purposes of this Agreement.

  

	 	2.	Employment 

  

	 	(a)	Subject to the terms and conditions contained herein, the Company hereby agrees to employ the Executive, and the Executive accepts such employment, on the Effective Date until the
Termination Date. 

  

	 	(b)	During the Executive’s employment under this Agreement, the Executive shall render services to the Company and its parent APP Pharmaceuticals, Inc., (the “Parent”) in
the position of Senior Vice-President of Finance; provided, that (i) within ninety (90) days from the Effective Date the Board may, in its discretion, appoint the Executive as Executive Vice-President and Chief Financial Officer of Company
and Parent and (ii) the Executive may have such other title or titles as may be assigned to the Executive by the Board. The Executive shall perform such duties and responsibilities as are normally related to such positions, subject to such
modified or additional duties (that are not materially inconsistent with duties and responsibilities as are normally related to such positions) as may be assigned by the Board or the Chief Executive Officer. The Executive will report to the Chief
Executive Officer. 

  

	 	(c)	In performing his services hereunder, the Executive shall abide by the rules, regulations, and practices of the Company (and, if applicable, the Parent) as adopted or modified from
time to time in the sole discretion of the Company (or, if applicable, the Parent). 

  

 1 

	 	(d)	The Executive will devote his entire business time, energy, attention and skill to the services of the Company (and, if applicable, the Parent) and to the promotion of its
interests. So long as the Executive is employed by the Company, the Executive shall not, without the written consent of the Company: 

  

	 	(i)	engage in any other activity for compensation, profit or other pecuniary advantage, whether received during or after the term of this Agreement; 

  

	 	(ii)	render or perform services of a business, professional, or commercial nature other than to or for the Company (or, if applicable, the Parent), either alone or as an employee,
consultant, director, officer, or partner of another business entity (including serving on boards of directors), whether or not for compensation; or 

  

	 	(iii)	plan or otherwise take any preliminary steps, either alone or in concert with others, to establish or engage in any business or activity that would compete with the current or
proposed business of the Company (and, if applicable, the Parent); 

 provided, that it shall not be a violation of this
Agreement for the Executive to (A) serve on civic or charitable boards, (B) manage personal investments, (C) serve on corporate boards, or (D) engage in such other activities as the Chief Executive Officer may approve, so long as
such activities do not interfere materially with the performance of the Executive’s duties and responsibilities to the Company (and, if applicable, the Parent). 
  

	 	(e)	Prior to or concurrently with the execution of this Agreement, the Executive has executed an Executive Proprietary Information, Trade Secret and Confidentiality Agreement (the
“Confidentiality Agreement”). 

  

	 	3.	Location of Employment: The Executive’s principal place of employment shall initially be at the Company’s offices in Schaumburg, Illinois; provided that at the
reasonable direction of the Chief Executive Officer the Executive may, from time to time, be required to travel to various domestic and foreign locations for purposes consistent with his duties hereunder. 

  

	 	4.	Compensation. 

  

	 	(a)	In exchange for full performance of the Executive’s obligations and duties under this Agreement, the Company shall pay the Executive a salary at the rate of Three Hundred Fifty
Thousand ($350,000.00) per year (“Base Salary”). The Base Salary shall be paid in accordance with the Company’s regularly established payroll practice. The Base Salary will be reviewed from time to time in accordance with the
established procedures of the Company for adjusting salaries for similarly situated employees and may be adjusted in the sole discretion of the Board or the Company’s Compensation Committee. Such adjusted salary shall become the “Base
Salary.” 

  

 2 

	 	(b)	The Base Salary hereof is a gross amount, and the Company shall be required to withhold from such amount deductions with respect to Federal, state and local taxes, FICA,
unemployment compensation taxes and similar taxes, assessments or withholding requirements. 

  

	 	(c)	During the Executive’s employment under this Agreement, the Executive shall also be reimbursed by the Company for reasonable business expenses actually incurred or paid by the
Executive, consistent with the policies established by the Board, in rendering to the Company the services provided for in this Agreement. 

  

	 	(d)	The Executive shall be entitled to vacation and sick leave on terms equivalent to those of other executive officers of the Company. The Executive shall accrue four (4) weeks of
vacation in his first year of employment with the Company in accordance with the Company’s standard vacation policy. 

  

	 	(e)	The Executive shall be entitled to participate in all benefit plans (including but not limited to any medical, dental, life insurance, retirement and disability plans) and to all
perquisites which shall be available from time to time to the executive officers of the Company generally; provided, however, that the Executive shall have no right to participate in any stock option, stock purchase or other plan relating to shares
of capital stock of the Company or its affiliates (except as provided in subsection (f) below). The Executive acknowledges and agrees that the Company may, in its discretion, terminate at any time or modify from time to time any such benefit
plans. 

  

	 	(f)	Commencing in 2009 (for stock option awards determined by the Board with respect to the 2008 fiscal year), the Executive shall be eligible to receive annual grants of stock options
or other equity awards (at the same time such grants are made to the other executive officers of the Company), in such amounts and subject to such terms as may be determined in the sole discretion of the Board or the Parent’s Compensation
Committee. 

  

	 	(g)	The Executive shall be eligible to receive an annual bonus in such amount, and subject to such performance targets and other factors, as may be determined in the sole discretion of
the Board or the Parent’s Compensation Committee. The target bonus amounts and performance targets for the Executive shall be established at the same time such amounts and targets are established for the other executive officers of the Company,
and any bonuses earned shall be paid at the same time as bonuses for other executive officers. The Executive acknowledges that his target bonus for the 2008 fiscal year will be forty percent (40%) of his Base Salary prorated for the partial
year as determined by the Parent pursuant to its standard policy (“Target Bonus”). In the event Executive is appointed Executive Vice-President and Chief Financial Officer by the Board then Executive’s Target Bonus will be adjusted to
fifty percent (50%) of his Base Salary prorated for the partial year as determined by the Parent pursuant to its standard policy. Such adjusted percentage shall become the “Target Bonus” for purposed herein. 

 

 3 

	 	(h)	Subject to Board approval, the Parent will provide the Executive with an option to purchase thirty-five thousand (35,000) shares of the Parent’s common stock, which option
(a) shall have an exercise price equal to the trading price of the Parent’s common stock at the grant date, (b) shall vest in equal installments of 8,750 over a four year period, (c) shall be evidenced by the Parent’s
standard form of stock option agreement for its officers and shall otherwise be subject to the terms and conditions of the Parent’s stock incentive plan. 

  

	 	(i)	The Company shall pay to the Executive a cash bonus of Fifty Thousand Dollars ($50,000.00) on the first anniversary of the date hereof if the Executive remains employed by the
Company as of such date (subject to Section 7(b)(iv)). 

  

	 	(j)	Other than as expressly set forth in this Section 4, the Executive shall not receive any other compensation or benefits from the Company or the Parent, except to the extent
provided by the Board. 

  

	 	5.	Term. The Executive’s employment hereunder shall commence on the Effective Date and shall continue in effect until terminated pursuant to Section 6 below.

  

	 	6.	Termination. The Executive’s employment hereunder may be terminated as follows: 

  

	 	(a)	The employment of the Executive under this Agreement shall terminate on the date of the Executive’s death. 

  

	 	(b)	The employment of the Executive under this Agreement may be terminated by the Company immediately upon giving the Executive notice if the Executive becomes Disabled.

  

	 	(c)	The employment of the Executive under this Agreement may be terminated by the Company immediately upon giving the Executive notice upon the occurrence of Cause.

  

	 	(d)	In addition to the circumstances described in subsection (c) above, the Company may terminate the Executive’s employment at any time (immediately upon giving notice to the
Executive) for any reason or no reason, with or without Cause or prior notice; provided, that a cessation of the Company’s employment of the Executive in connection with a Sale Transaction shall not be deemed for purposes of this Agreement to
be a termination of the Executive by the Company if the Successor assumes and agree to perform the Company’s obligations hereunder. 

  

	 	(e)	 (i) The Executive may voluntarily terminate his employment under this Agreement by giving the Chief Executive Officer written notice of his resignation signed by
the Executive or, if no notice is given, on the date on 

  

 4 

	 	 
which the Executive voluntarily terminates his employment relationship with the Company. (ii) Such voluntary termination shall be deemed for purposes
hereof to have occurred for “Good Reason” only if (1) the Executive provides written notice to the Company within twenty (20) days after the Executive becomes aware of the circumstances giving rise to “Good Reason”,
(2) the Company fails to correct the circumstances giving rise to “Good Reason” within thirty (30) days following receipt of such notice and (3) the Executive resigns within fifteen (15) days following such thirty
(30) day period. 

  

	 	7.	Consequences of Termination. 

  

	 	(a)	If the employment of the Executive under this Agreement is terminated pursuant to 6(a) (death), 6(b) (disability), 6(c) (termination With Cause) or 6(e)(i) (voluntary termination,
other than for Good Reason), then (i) the Company shall pay the Executive (or, as applicable, his heirs, estate or representative) the Accrued Compensation, (ii) the Company shall provide to the Executive (or his dependents, as applicable)
such benefits, if any, as may be required to be provided by the Company under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) and any disability policy of the Company applicable to the Executive, and (iii) the Executive
(or, as applicable, his heirs, estate or representative) shall be entitled to vested benefits, stock options and other equity awards as applicable (iv) the Executive shall not be entitled to any other compensation or benefits from the Company,
under this Agreement or otherwise. The Accrued Compensation shall be paid promptly after termination of employment, provided that the benefits and amounts accrued under the plans and programs shall be paid or provided in accordance with such plans
or programs. 

  

	 	(b)	If the employment of the Executive under this Agreement is terminated pursuant to Section 6(d) (termination Without Cause); Section 6(e)(ii) (voluntary termination for
Good Reason), then the Executive shall not be entitled to any compensation or benefits from the Company, under this Agreement or otherwise, except for the following: 

  

	 	(i)	The Company shall pay to the Executive all Accrued Compensation and COBRA benefits described in Section 7(a); 

  

	 	(ii)	 Following the Termination Date, the Company shall (so long as the termination of the Executive’s employment qualifies as a “separation from service”
under Section 409A) pay the Executive, for the duration of the Severance Period, severance payments at an annual rate (pro rated over the Severance Period) equal to sum of (A) the Base Salary plus (B) the Severance Bonus Amount which
severance payments will be payable in arrears in substantially equal monthly installments (the “Severance Amount”). Notwithstanding the preceding sentence and any other provision of this Agreement to the contrary, if the 

  

 5 

	 	 
Executive is a “specified employee” within the meaning of Section 409A at the time of the Executive’s termination, then to the extent the
portion of the Severance Amount and the benefits provided under this Agreement, together with any other severance payments or benefits that may be considered deferred compensation under Section 409A, which exceed the Section 409A Limit or
which do not qualify as separation pay under Treasury Regulation Section 1.409A-1(b)(9)(iii) that would otherwise be payable within the first six (6) months following the Termination Date, shall not be paid during such six- month period.
Instead, such portion of the Severance Amount and any such benefits shall accrue during the six (6) month period and be paid in a lump sum on the date six (6) months and one (1) day following the Termination Date.

  

	 	(iii)	The vesting of the stock options and other equity awards granted to the Executive shall accelerate so that such options and other equity awards shall have vested to the same extent
as would if the Executive were terminated on the last day of the Severance Period; 

  

	 	(iv)	The Company shall pay to the Executive the cash bonus described in Section 4(i) above, if not previously paid, on the first anniversary of the date hereof.

 provided, that the Executive shall not be entitled to receive any post-termination benefits described in clause (ii),
(iii) and (iv) of this subsection (b) unless, within twenty-one (21) days following the Termination Date, he executes and delivers to the Company a Release of Claims in the form attached as Exhibit B hereto. 
  

	 	(c)	The Executive agrees that all property (including, without limitation, all equipment, tangible proprietary information, documents, records, notes, contracts and computer-generated
materials) furnished to or created or prepared by Executive incident to Executive’s employment belongs to the Company (or, as applicable, the Parent) and shall be promptly returned to the Company upon termination of the Executive’s
employment. 

  

	 	(d)	Upon termination of the Executive’s employment, the Executive shall be deemed to have resigned from all offices and directorships then held with the Company, the Parent, and
each of their subsidiaries. Following any termination of employment, the Executive shall reasonably cooperate with the Company (i) in the winding up of pending work on behalf of the Company and the orderly transfer of work to other employees
and (ii) in the defense of any action brought by any third party against the Company or the Parent that relates to the Executive’s employment by the Company; provided, that in each case the Company shall reimburse the executive for any
out-of-pocket fees and expenses incurred by the Executive in connection with such cooperation. 

  

 6 

	 	8.	Additional Post-Termination Obligations. 

  

	 	(a)	The Executive acknowledges that (x) because of his position with the Company, he will have access to the information about the operations, business strategies and customers,
and other valuable proprietary information and trade secrets, of the Company, the Parent and their affiliates (y) the use or disclosure of such information and trade secrets in violation of this Agreement would be extremely difficult to detect
or prove and (z) any activities restricted by this Section 8 would necessarily involve the use or disclosure of the Company’s and/or the Parent’s trade secrets and/or proprietary information. Accordingly, the Executive agrees
that from the date hereof until after the eighteen month anniversary of the Termination Date, the Executive will not, directly or indirectly: 

  

	 	(i)	engage in any business activity that is or may reasonably be found to be in competition with the business of the Company or the Parent (or any of their subsidiaries or affiliates),
as such business may exist at any time from the Effective Date through the Termination Date; provided, that nothing in this Agreement shall be deemed to prohibit Executive from owning not more than one percent (1%) of any class of publicly
traded securities of a competitor. 

  

	 	(ii)	Solicit, raid, entice or induce any employee of the Company or the Parent (or any of their subsidiaries or affiliates) to be employed by any competitor thereof (except to the extent
that such employee has first responded to a general advertisement or general employment search by Executive’s place of employment at the time); 

  

	 	(iii)	Solicit business for any competitor from, or transact such business for any competitor with, any person, firm or corporation which was, at any time during Executive’s
employment hereunder, a customer of the Company or the Parent (or any of their subsidiaries or affiliates); or 

  

	 	(iv)	Assist a competitor in taking such action. 

  

	 	(b)	Executive agrees that he will not disparage, or otherwise communicate to anyone, information which may be harmful to the business or the business reputation of the Company or the
Parent (or any of their subsidiaries or affiliates) or their respective employees, officers, directors, customers, suppliers, successors, and assigns, including without limitation, negative comments about any such company, its management methods,
policies and/or practices. Notwithstanding the foregoing, Executive may respond accurately and fully to any question, inquiry or request made in connection with any governmental inquiry, investigation, review, audit, or proceeding, or as otherwise
required by law. 

  

 7 

	 	(c)	If the Executive fails to perform his obligations under this Section 8, then the Company may, in addition to any rights and remedies then available to the Company (under
Section 11 hereof or otherwise), cease providing the payments and benefits described in Section 7(b) so long as such failure, if reasonably capable of being cured, is not cured by the Executive within thirty (30) days following a
written notice from the Company of such failure to perform. 

  

	 	9.	Representations. 

  

	 	(a)	The Executive represents that he has full authority to enter into this Agreement and is not under any contractual restraint which would prohibit the Executive from satisfactorily
performing his duties to the Company (and, if applicable, the Parent) under this Agreement. 

  

	 	(b)	The Executive hereby agrees to indemnify and hold harmless the Company, the Parent, and their respective officers, directors and stockholders from and against any losses,
liabilities, damages or costs (including reasonable attorney’s fees) arising out of a material breach of any of the representations, warranties and covenants of the Executive set forth in this Agreement. 

  

	 	(c)	The Executive acknowledges that he is free to seek advice from independent counsel with respect to this Agreement. The Executive has either obtained such advice or, after carefully
reviewing this Agreement, has decided to forego such advice. The Executive is not relying on any representation or advice from the Company or the Parent or any of their respective officers, directors, attorneys or other representatives regarding
this Agreement, its content or effect. 

  

	 	10.	Arbitration. Subject to Section 11 below, the parties acknowledge and agree to the provisions of the Arbitration Agreement attached hereto as Exhibit C and incorporated
by this reference. 

  

	 	11.	 Equitable Relief. Notwithstanding Section, 10 above, the Executive acknowledges that the Company and the Parent are relying for its protection upon the
existence and validity of the provisions of this Agreement, that the services to be rendered by the Executive are of a special, unique and extraordinary character, and that irreparable injury will result to the Company and/or the Parent from any
violation or continuing violation of the provisions of Section 8 for which damages may not be an adequate remedy. Accordingly, the Executive hereby agrees that in addition to the remedies available to the Company and/or the Parent by law or
under this Agreement, the Company and/or the Parent shall be entitled to obtain such equitable relief as may be permitted by law in a court of competent jurisdiction including, without limitation, injunctive relief from any violation or continuing
violation by the Executive of any term or provision of Section 8. If the Company and/or the Parent seeks to enforce its 

  

 8 

	 	 
rights under this Section 11, the prevailing party or parties shall be entitled to recover reasonable fees, costs and expenses incurred in connection
therewith including, without limitation, the fees, costs and expenses of attorneys, accountants and experts, whether or not litigation is instituted, and including such fees, costs and expenses of appeals. 

  

	 	12.	Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the internal substantive laws (and not the laws of conflicts) of the State of
Illinois. 

  

	 	13.	Entire Agreement. This Agreement (including the Exhibits hereto) constitutes the whole agreement of the parties hereto in reference to any employment of the Executive by the
Company and in reference to any of the matters or things herein provided for or hereinabove discussed or mentioned in reference to such employment; all prior agreements, promises, representations and understandings relative thereto being herein
merged. 

  

	 	14.	Assignability. 

  

	 	(a)	This Agreement is personal in nature and the Executive shall not, without the written consent of the Company, assign or transfer this Agreement or any rights or obligations
hereunder. 

  

	 	(b)	Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon or give to any person, other than the parties to this Agreement, any right, remedy or
claim under or by reason of this Agreement or of any term, covenant or condition of this Agreement; provided, that Section 11 hereof shall run to the benefit of, and be enforceable by, the Parent. 

  

	 	15.	Amendments; Waivers. 

  

	 	(a)	This Agreement may be amended, modified, superseded, canceled, renewed or extended and the terms or covenants of this Agreement may be waived only by a written instrument executed
by the parties to this Agreement or, in the case of a waiver, by the party waiving compliance. Any such written instrument must be approved by the Board to be effective as against the Company. The failure of any party at any time or times to require
performance of any provision of this Agreement shall in no manner affect the right at a later time to enforce the same. No waiver by any party of the breach of any term or provision contained in this Agreement, whether by conduct or otherwise, in
any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such breach, or a waiver of the breach of any other term or covenant contained in this Agreement. 

  

	 	(b)	 This Agreement is intended to comply with Section 409A (as amplified by any Internal Revenue Service or U.S. Treasury Department guidance), and shall be
construed and interpreted in accordance with such intent. The Executive and 

  

 9 

	 	 
the Company acknowledge that the Executive and the Company intend that the compensation arrangements set forth in this Agreement are in compliance with
Section 409A, and the Executive and the Company agree to cooperate with one another, to the extent reasonably requested by the other party, to restructure any compensation set forth in this Agreement in a manner, if possible and without any
increase in cost to the Company, such that no earlier and/or additional taxes to the Executive or the Company will arise under Section 409A. Any provision of this Agreement that would cause the payment of any benefit to fail to satisfy
Section 409A shall have no force and effect until amended to comply with Section 409A (which amendment may be retroactive to the extent permitted by the Code or any regulations or rulings thereunder). With regard to any provision hereby
that provides that a payment shall be made promptly after a date, such payment shall be made within thirty (30) days thereafter. 

  

	 	16.	Notice. All notices, requests or consents required or permitted under this Agreement shall be made in writing and shall be given to the other parties by personal delivery,
registered or certified mail (with return receipt), overnight air courier (with receipt signature) or facsimile transmission (with “answerback” confirmation of transmission), sent to such party’s addresses or telecopy numbers as are
set forth below such party’s signatures to this Agreement, or such other addresses or telecopy numbers of which the parties have given notice pursuant to this Section 16. Each such notice, request or consent shall be deemed effective upon
the date of actual receipt, receipt signature or confirmation of transmission, as applicable (or if given by registered or certified mail, upon the earlier of (i) actual receipt or (ii) three days after deposit thereof in the United States
mail). 

  

	 	17.	Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  

	 	18.	Survival. The representations and agreements of the parties set forth in Sections 7 (Consequences of Termination), 8 (Additional Post-Termination Obligations), 9
(Representations), 10 (Arbitration), and 11 (Equitable Relief), of this Agreement shall survive the expiration or termination of this Agreement (irrespective of the reason for such expiration or termination). 

  

 10 

 IN WITNESS WHEREOF, the parties to this Agreement have executed this Employment Agreement as of the date
first above written. 
  

					
		 		 	APP Pharmaceuticals, LLC
			
	 	 		 	/s/ Patrick Soon-Shiong
		 		 	By: Patrick Soon-Shiong, M.D.
		 		 	Its: Chief Executive Officer

  

									
		 		 	Address for Notices: 11755 Wilshire Blvd., 20th Floor
		 		 	                 Los Angeles, California 90025

 By signing below, the undersigned acknowledges and agrees that, except as expressly set forth in a written
agreement signed by an authorized representative of the Company, the undersigned (i) has not been promised any equity interests in the Company or any of its subsidiaries, affiliates or predecessors and (ii) does not and will not have any
right to any equity interests in the Company or any of its subsidiaries, affiliates or predecessors. 

					
			
	 	 		 	/s/ Richard J. Tajak
		 		 	Richard J. Tajak
			
		 		 	Address for Notices:

  

 11 

 EXHIBIT A 
 DEFINITIONS 
 “Accrued Compensation” shall mean (i) all base salary and vacation pay accrued
through the Termination Date and (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date. 
 “Base Amount” shall mean the amount of Executive’s annual base salary at the highest base salary in effect during the one year period ending on the
Termination Date. 
 “Board” shall mean the Board of Directors of the Parent. 
 “Cause” shall mean any of the following (i) Executive commits a material breach of this Agreement, the Confidentiality Agreement, or any policy of the Company; which breach is not cured to the
satisfaction of the Board within twenty days after written notice to Executive from the Company; (ii) the Executive fails (other than a failure resulting from a Disability) to substantially perform his duties hereunder, or to implement or
follow a lawful policy or directive of the Company, and such failure continues for a period of twenty days after written notice to Executive from Company; (iii) the Executive is indicted for a crime involving dishonesty, breach of trust,
physical harm to any person or serious moral turpitude, (iv) the Executive engages in dishonesty, gross negligence or willful misconduct in the performance of his duties, as reasonably determined by the Board, (v) the Executive engages in
conduct which is materially injurious to the Company (monetarily or otherwise) or which constitutes a material violation of federal or state law relating to the Company or its business. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 “Common Stock” shall
mean the Company’s Common Stock. 
 “Disability” means (i) the Executive becomes eligible for the Company’s long term
disability benefits or (ii) in opinion of the Board, Executive has been unable to carry out the responsibilities and functions of the position held by Executive by reason of any physical or mental impairment for more than ninety consecutive
days or more than one hundred and twenty days in any twelve-month period. 
 “Good Reason” means, without the Executive’s express
written consent, the occurrence of any of the following circumstances: (i) there is a change in the Executive’s status or responsibilities which represents a material and adverse change from the Executive’s overall status or
responsibilities, taken as a whole; or (ii) the Executive is required to be based at any place outside a fifty (50) mile radius from Schaumburg, Illinois without his written consent, except for travel that is reasonably necessary in
connection with the Company’s business; (iii) a reduction in the Executive’s Base Salary or benefits (unless such reduction applies similarly to all other officers of the Company); or (iv) any failure by a Successor to assume and
agree to perform the Company’s obligations hereunder. 
 “Parent” shall mean APP Pharmaceuticals, Inc., a Delaware corporation.

  

 1 

 “Sale Transaction” shall mean (i) a transaction (including a stock sale, merger, consolidation,
reorganization or recapitalization) pursuant to which the holders of the voting capital stock of the Company immediately prior to such transaction (or their affiliates) cease to beneficially own more than fifty percent (50%) of voting capital
stock of the Company or its successor (or, if there is a parent of the Company following such transaction, of the ultimate parent) immediately following such transaction, (ii) a transaction (including a merger, consolidation, reorganization or
recapitalization) pursuant to which the holders of the voting capital stock of the Parent immediately prior to such transaction (or their affiliates) cease to beneficially own more than fifty percent (50%) of voting capital stock of the Parent
or its successor (or, if there is a parent of the Parent following such transaction, of the ultimate parent) immediately following such transaction ,(iii) the Company sells all or substantially all of its assets to a third party. 
 “Section 409A” shall mean Section 409A of the Code, together with and the related final regulations thereunder and other guidance relating
thereto. 
 “Section 409A Limit” shall mean payments that qualify under Treasury Regulations 1.409A-1(b)(9)(v)(C) and (D) as not
providing for a “deferral of compensation” under Section 409A. 
 “Successor” shall mean the successor or transferee in a
Sale Transaction. 
 “Severance Bonus Amount” shall mean (i) if the Termination Date occurs prior to the payment to the Executive of
the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2008, an amount equal to his Target Bonus for 2008, pro rated over the number of days of employment in the calendar year in which the Termination Date
occurs, or (ii) if the Termination Date occurs after the payment to the Executive of the annual incentive payment under the Company’s cash bonus incentive plan with respect to 2008 (but prior to the payment with respect to 2009), an amount
equal to such payment, pro rated over the number of days of employment in the calendar year in which the Termination Date occurs or (iii) if the Termination Date occurs after the payment to the Executive of the annual incentive payment under
the Company’s cash bonus incentive plan with respect to 2009, an amount equal to the average of the last two annual incentive payments paid or payable to the Executive prior to the Termination Date, pro rated over the number of days of
employment in the calendar year in which the Termination Date occurs. 
 “Severance Period” shall mean the period commencing on the
Termination Date and ending on the eighteen month anniversary of such Termination Date. 
 “Termination Date” means the date on which the
Executive’s employment is terminated pursuant to Section 6 hereof. 
  

 2 

 EXHIBIT B 
 RELEASE 
 In consideration for the payments described in Section 7 of the Agreement, the
Executive hereby releases and discharges APP Pharmaceuticals, LLC, APP Pharmaceuticals, Inc., and any subsidiaries or affiliates thereof (collectively the “Company”), and their respective directors, officers, employees, benefit plans and
administrators, successors and assigns from any and all claims, obligations, and liabilities, whether known or unknown, at law or in equity, arising out of the Executive’s employment with the Company and the termination thereof. This Release is
to be broadly construed so as to resolve all pending or potential disputes including, but without limiting the generality of the foregoing, any and all claims under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit
Protection Act of 1990, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Employee Retirement Income Security Act of 1974, the Equal Pay Act, the Family and Medical Leave Act, the discrimination and wage payment
laws of the State of California, and any other statute, regulation, or ordinance, and any and all claims based upon alleged wrongful or retaliatory discharge, negligence, intentional infliction of emotional distress, defamation, invasion of privacy,
other torts, harassment, employment discrimination or breach of contract (express or implied). Notwithstanding the foregoing, Executive does not waive any rights Executive may have to enforce the terms of the Employment Agreement, if any, to amounts
or benefits to be paid or provided after termination under the Employment Agreement or any Company-sponsored employee benefit plan, to insurance protection and/or indemnification for actions taken by the Executive while an employee, officer and/or
director of the Company or to make any claims for workers’ compensation. 
 Executive acknowledges and agrees that: (a) Executive
has read and understands this Release in its entirety; (b) Executive has been advised in writing to consult with an attorney concerning this Release before signing it. This subparagraph constitutes such written advice; (c) Executive has
twenty-one (21) calendar days after receipt of this Release to consider its terms before signing it; (d) nothing contained in this Release waives any claim that may arise after the date of its execution; and (e) Executive executes
this Release knowingly and voluntarily, without duress or reservation of any kind, and after having given the matter full and careful consideration. 
 Executive has the right to revoke this Release in full within seven (7) calendar days of
executing it. Any revocation must be personally delivered to the General Counsel of the Company or his designee, or mailed to APP Pharmaceuticals, LLC, 11755 Wilshire Blvd., 20th Floor, Los Angeles, California 90025 and postmarked within seven (7) calendar days of the date of execution of this Release. None of the terms and provisions of this Release shall become effective or be
enforceable until such revocation period has expired. 
  

 3 

 EXHIBIT C 
 ARBITRATION 
 1. Any controversy or claim arising out of, relating to or in connection with this
Agreement, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association (“AAA”) in accordance with its then existing Commercial Arbitration rules and judgment upon the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. 
 2. It is the express agreement of the parties that the provisions of
this Section, including the rules of the AAA , as modified by the terms of this Exhibit C, shall govern the arbitration of any disputes arising pursuant to this Agreement. In the event of any conflict between the law of the State of Illinois, the
law of the arbitral location, and the U.S. Arbitration Act (Title 9, U.S. Code), with respect to any arbitration conducted pursuant to this Agreement, to the extent permissible, it is the express intent of the parties that the law of Illinois,
as modified herein, shall prevail. Either party (the “Initiating Party”) may commence an arbitration by submitting a Demand for Arbitration under the AAA Rules and by notice to the other Party (the “Respondent”) in accordance
with Section 16. Such notice shall set forth in reasonable detail the basic operative facts upon which the Initiating Party seeks relief and specific reference to the clauses of this Agreement, the amount claimed, if any, and any non-monetary
relief sought against the Respondent. After the initial list of issues to be resolved has been submitted, the arbitrators shall permit either party to propose additional issues for resolution in the pending proceedings. 
 3. The place of arbitration shall be Chicago, Illinois, or any other place selected by mutual agreement. 
 4. The parties shall attempt, by agreement, to nominate a sole arbitrator for confirmation by the AAA. If the parties fail so to nominate a sole
arbitrator within 30 days from the date when the Initiating Party’s Demand for Arbitration has been communicated to the other party, a board of three arbitrators shall be appointed by the parties jointly or, if the parties cannot agree as to
three arbitrators within 30 days after the commencement of the arbitration proceeding, then one arbitrator shall be appointed by each of Executive and the Company within 60 days after the commencement of the arbitration proceeding and the third
arbitrator shall be appointed by mutual agreement of such two arbitrators. If such two arbitrators shall fail to agree within 75 days after commencement of the arbitration proceeding upon the appointment of the third arbitrator, the third arbitrator
shall be appointed by the AAA in accordance with its then existing rules. Notwithstanding the foregoing, if any party shall fail to appoint an arbitrator within the specified time period, such arbitrator and the third arbitrator shall be appointed
by the AAA in accordance with its then existing rules. For purposes of Section 10, the “commencement of the arbitration proceeding” shall be deemed to be the date upon which the Demand for Arbitration has been received by the AAA. Any
award shall be rendered by a majority of the members of the board of arbitration. 
  

 4 

 5. An award rendered in connection with an arbitration pursuant to Section 10 shall be final and
binding upon the parties, and any judgment upon such an award may be entered and enforced in any court of competent jurisdiction. 
 6. The
parties agree that the award of the arbitral tribunal will be the sole and exclusive remedy between them regarding any and all claims between them with respect to the subject matter of the arbitrated dispute. The parties hereby waive all
jurisdictional defenses in connection with any arbitration hereunder or the enforcement of any order or award rendered pursuant thereto (assuming that the terms and conditions of this arbitration clause have been complied with). 
 7. With respect to any award issued by the arbitrators pursuant to this Agreement, the parties expressly agree (i) that such order shall be
conclusive proof of the validity of the determination(s) of the arbitrators underlying such order; and (ii) any federal court sitting in Chicago, Illinois, or any other court having jurisdiction, may enter judgment upon and enforce such order,
whether pursuant to the U.S. Arbitration Act, or otherwise. 
 8. The arbitrators shall issue a written explanation of the reasons for the
award and a full statement of the facts as found and the rules of law applied in reaching their decision to both parties. The arbitrators shall apportion to each party all costs (other than attorneys’ fees) incurred in conducting the
arbitration in accordance with what the arbitrators deem just and equitable under the circumstances. The prevailing party shall be entitled to recover its attorneys’ fees from the other party. Any provisional remedy which would be available to
a court of law shall be available from the arbitrators pending arbitration of the dispute. Either party may make an application to the arbitrators seeking injunctive or other interim relief, and the arbitrators may take whatever interim measures
they deem necessary in respect of the subject matter of the dispute, including measures to maintain the status quo until such time as the arbitration award is rendered or the controversy is otherwise resolved. The arbitrator shall have the authority
to award any remedy or relief that a court of the State of Illinois could order or grant, including, without limitation, specific performance of any obligation created under this Agreement, the issuance of an injunction, or the imposition of
sanctions for abuse or frustration of the arbitration process, but specifically excluding punitive damages (the parties specifically agree that punitive damages shall not be available in the event of any dispute). 
 9. The parties may file an application in any proper court for a provisional remedy in connection with an arbitrable controversy, but only upon the
ground that the award to which the application may be entitled may be rendered ineffectual without provisional relief. 
 10. Except as
expressly provided in the following sentence, neither party may disclose to any person or entity (i) any testimony or evidence presented or submitted in the arbitration proceedings, (ii) the nature or terms of any award or judgment
rendered in such arbitration, or any portion thereof or (iii) the opinion of the arbitrator or arbitration panel, or any portion thereof (collectively, the “Arbitration Information”) . To the extent either party brings an action
pursuant to Section 7(ii) above to enforce or appeal any such judgment or award, then the filing party shall (x) file under seal all documents filed or submitted in such action (including all Arbitration Information) and (y) fully
cooperate with the non-filing party in ensuring that all documents filed or submitted in such action (including all Arbitration Information) shall be kept confidential. 
  

 5 

 11. THE PARTIES ALSO UNDERSTAND AND AGREE THAT THIS AGREEMENT CONSTITUTES A WAIVER OF THEIR RIGHT TO A
TRIAL BY JURY OF ANY CLAIMS OR CONTROVERSIES COVERED BY THIS AGREEMENT. THE PARTIES AGREE THAT NONE OF THOSE CLAIMS OR CONTROVERSIES SHALL BE RESOLVED BY A JURY TRIAL. 
 12. THE PARTIES FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS AGREEMENT WITH THEIR LEGAL COUNSEL AND HAVE AVAILED THEMSELVES OF THAT OPPORTUNITY TO THE EXTENT THEY WISH TO DO SO.

  

					
		 		 	APP Pharmaceuticals, LLC
			
	 	 		 	/s/ Patrick Soon-Shiong
		 		 	By: Patrick Soon-Shiong, M.D.
		 		 	Its: Chairman and Chief Executive Officer

  

					
		 		 	Address for Notices: 11755 Wilshire Blvd., 20th Floor
		 		 	                 Los Angeles, California 90025
			
	 	 		 	/s/ Richard J. Tajak
		 		 	Richard J. Tajak
			
		 		 	Address for Notices:

  

 6

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