Document:

EX-10.9

 Exhibit 10.9 

$750,000,000 

INTER-COMPANY CREDIT AGREEMENT 

BY AND BETWEEN 

DOMINION RESOURCES, INC. 

AND 
 QUESTAR GAS
COMPANY 
 Dated as of September 16, 2016 

 INTER-COMPANY CREDIT AGREEMENT 

This Inter-Company Credit Agreement (this “Agreement”), dated as of September 16, 2016, is by and between DOMINION RESOURCES,
INC. (“DRI”), a Virginia corporation, and QUESTAR GAS COMPANY (“QGC”), a Utah company and indirect wholly owned subsidiary of DRI (each of DRI and QGC referred to as a “party,” and collectively, the
“parties”). 
 ARTICLE I 

GENERAL PROVISIONS 

Section 1.01    Definitions. 

“Available Credit” means, as of any day, $750,000,000 less the aggregate amount of Loans then outstanding. 

“Business Day” means any day other than a Saturday, a Sunday, a legal holiday or a day on which banking institutions are
authorized or required by law or other governmental action to close in New York, New York; provided that such day is also a day on which DRI is open for business. 

“Base Rate” means, as of any day, the lesser of (i) the effective dollar-weighted average rate of interest on DRI’s
outstanding commercial paper and/or revolving credit borrowings, or (ii) the rates available, at the time of such loan, on similar loans to QGC from the market. If no such DRI or QGC borrowings are outstanding on the date of any outstanding
Loan, then the interest rate determinations for such day pursuant to (i) and (ii) above, as applicable, shall be equal to One Month LIBOR as of the date of such determination, plus the basis point spread above One Month LIBOR, as it existed and
was determined at the date of such party’s most recent comparable borrowing and that was payable by such party with respect to such borrowing. 

“Drawdown Date” means a Business Day selected by QGC upon which all or any portion of any Loan shall be funded. 

“Dollars or $” means lawful money of the United States of America. 

“Effective Date” shall be such day as this Agreement becomes effective pursuant to Section 4.06 hereof. 

“Final Maturity Date” means: (i) the Regular Maturity Date (as the same may be extended pursuant to Section 2.08 of
this Agreement); or (ii) such earlier termination date as may occur pursuant to Section 3.01 or 3.02 hereof. If the Final Maturity Date is not a Business Day, the next succeeding Business Day shall be deemed to be the Final Maturity Date.

 “Indebtedness” means (i) all indebtedness or other obligations of QGC for borrowed money, including without
limitation the Note; (ii) all indebtedness or other obligations of any other Person for borrowed money in respect of which QGC is liable, contingently or otherwise, to pay or advance money or property as guarantor, endorser or otherwise (except
as endorser for collection in the ordinary course of business); and (iii) all financing lease obligations of QGC. 

 “Interest Payment Date” means, except as may be otherwise agreed by DRI and QGC,
the fifteenth (15th) day of each month and any date upon which 100% of the outstanding principal amount of the Loans is due and payable. If an Interest Payment Date falls on a date which is not a
Business Day, such Interest Payment Date shall be deemed to be the immediately preceding Business Day. 
 “Loan” means a
loan made to QGC under Section 2.01 of this Agreement. 
 “Note” means the promissory note of QGC, payable to the
order of DRI and substantially in the form annexed hereto as Exhibit A, evidencing at any given time the Loans outstanding under this Agreement, as the same may be amended, modified, supplemented, renewed or extended from time to time and any
replacement thereof or substitution therefor. 
 “One Month LIBOR” shall mean the rate per annum appearing on Reuters Page
LIBOR01 Page (or any successor page) as the London interbank offered rate for deposits in U.S. Dollars having a one month maturity at approximately 11:00 a.m. (London time) on the date of determination. 

“Person” means an individual, corporation, partnership, trust or unincorporated organization, or a government or any agency
or political subdivision thereof 
 “Regular Maturity Date” means the date which is one (1) year from the Effective
Date of this Agreement, as the same may be extended pursuant to Section 2.08 to this Agreement. 

Section 1.02    Interpretation of Definitions. All definitions in the singular shall, unless the context
specifies otherwise, include and mean the plural, and all references to the masculine gender shall include the feminine; and vice versa. 

Section 1.03    Accounting Terms. All accounting terms not specifically defined herein shall be construed in
accordance with generally accepted accounting principles consistent with those applied in the preparation of QGC’s and/or DRI’s financial statements, and any financial data submitted pursuant to this Agreement shall be prepared in
accordance with such principles. 
 ARTICLE II 

CONCERNING THE LOANS 

Section 2.01    Loans. During the period from the Effective Date to and including the Final Maturity Date, DRI
agrees to make Loans to QGC upon the terms and conditions set forth herein in an aggregate outstanding principal amount not to exceed $750,000,000; provided, however, that DRI retains sole and absolute discretion to approve or reject any request for
a Loan by QGC. During the term of this Agreement, to but excluding the Final Maturity Date, QGC, at its option without penalty or premium, may from time to time repay all or any part of any Loan as provided in Section 2.06 hereof, and may re-borrow any amount of such Loan that has been repaid. The entire unpaid principal balance of the Note, together with interest accrued thereon, shall be due and payable in full on the Final Maturity Date. 

  
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 Section 2.02    Requests for Loans; Accounting. QGC agrees to
keep DRI and Dominion Resources Services, Inc. advised of its short-term borrowing needs, and any requests for Loans hereunder shall be for a proposed amount and Drawdown Date consistent with such short-term borrowing needs. DRI reserves the right
to require QGC to deliver a prompt written confirmation of any oral request for a Loan, together with, if requested by DRI, a general statement of the contemplated disposition of the proceeds. No Loan shall be in excess of the Available Credit, and
no part of any Loan may mature later than the Final Maturity Date. Increases and decreases in the amounts due and payable by QGC under this Agreement and the Note shall be evidenced by book entries, and DRI shall maintain a current daily accounting
of all Loans to QGC under this Agreement. Such accounting shall be maintained in electronic format and shall indicate the Base Rate in effect from time to time. Upon request, DRI shall provide QGC copies of such current accounting. 

Section 2.03    Interest on the Loan. Daily interest at the Base Rate on the outstanding principal balance of
the Loans shall be determined by DRI as of the close of each Business Day. The rate to be used for any day other than a Business Day will be the Base Rate on the immediately preceding Business Day. All accrued and unpaid interest on all Loans shall
be due and payable by QGC on each Interest Payment Date. 
 Section 2.04    The Note. QGC’s obligation
to repay the outstanding balance of each Loan shall be evidenced by the Note. The Note shall be executed by a duly authorized officer of QGC and delivered to DRI on the Effective Date. The Note shall be payable to the order of DRI at its offices in
the City of Richmond, Virginia, and shall mature on the Final Maturity Date (subject to the terms of Article III hereof). The Loans and the Note evidencing the Loans shall accrue interest at the Base Rate as provided in Section 2.03 hereof,
which interest shall be payable at the offices of DRI in the City of Richmond, Virginia at the times specified in Section 2.03. Upon payment in full on the Final Maturity Date of the outstanding principal balance of the Note and all interest
accrued thereon, DRI shall promptly return such Note marked “Cancelled” to QGC. 

Section 2.05    Funding and Repayment. Each Loan shall be made in Dollars in immediately available funds on
the Drawdown Date. All Loans shall be made in the form of open account advances, repayable not more than one year from the date of the first advance. All or any portion of each Loan is payable on demand of DRI. All repayments and prepayments by QGC
of principal and all payments by QGC of interest shall be made without deduction, set off, abatement, suspension, deferment, defense or counterclaim, on or before the due date of repayment or payment, and shall be made in Dollars in immediately
available funds. All payments received from QGC shall be applied as follows: first, to the payment of interest due on the Loans; and second, to the repayment of principal due on the Loans. 

Section 2.06    Optional Prepayments. QGC may, at its option, prepay all or any part of the Loans at any time
and from time to time without penalty or premium. 
 Section 2.07    Use of Loan Proceeds. The proceeds of
the Loans may be used by QGC or its subsidiaries for any lawful purpose. 

  
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 Section 2.08    Automatic Extension of Regular Maturity Date. If,
on or before the day which is ninety (90) days prior to the then Regular Maturity Date of this Agreement, neither of the parties to this Agreement shall have given notice to the other party that it wishes this Agreement to expire on said
Regular Maturity Date, then said Regular Maturity Date shall be deemed to have been extended automatically for an additional one (1) year period. 

ARTICLE III 

TERMINATION 

Section 3.01    Termination of Agreement. Anything in this Agreement or the Note to the contrary
notwithstanding, if any of the following events shall occur and be continuing, DRI, at its option, shall have the right to terminate this Agreement and/or to make the outstanding principal amount of the Loans and interest thereon immediately due and
payable upon written or oral notice to QGC, without the requirement of any further notice, demand or presentment of the Note for payment, all of which are expressly waived by QGC: 

(a)    QGC shall fail to pay any Indebtedness or any interest or premium thereon owing by QGC to any Person when due or
within any grace period applicable thereto, whether such Indebtedness shall become due by scheduled maturity, by required prepayment, by acceleration, by demand or otherwise; or QGC shall fail to perform any term, covenant or agreement on its part
to be performed under this Agreement, the Note or any other agreement or instrument evidencing or securing or relating to any Indebtedness owing by QGC when required to be performed, if such failure permits the acceleration of the maturity of such
Indebtedness, unless such failure to perform shall have been waived by the holder or holders of such Indebtedness prior to any acceleration hereunder; 

(b)    This Agreement or the Note shall at any time for any reason cease to be in full force and effect or shall be
declared to be null and void, or the validity or enforceability of this Agreement or the Note shall be contested by any Person, or QGC shall deny that it has any or further liability or obligation hereunder and thereunder; or 

(c)    QGC shall have entered against it an order for relief as a bankrupt or insolvent, or admit in writing its inability
to pay its just debts as they mature, or make an assignment for the benefit of the creditors; or QGC shall apply for or consent to the appointment of any receiver, trustee, custodian, sequestrator, assignee for the benefit of creditors or similar
officer for it or for all or any substantial part of its property, or any such person shall be appointed without the application or consent of QGC and such appointment shall continue unstayed or undischarged for a period of sixty (60) days; or
QGC shall institute (by petition, application, answer, consent or otherwise) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceedings relating to it under the laws of any
jurisdiction; or any such proceeding shall be instituted (by petition, application or otherwise) against QGC and shall remain unstayed or undismissed for a period of sixty (60) days; or any judgment, writ, warrant or attachment of execution or
similar process shall be issued or levied against a substantial part of the assets of QGC and such judgment, writ, or similar process shall not be released, stayed, vacated or fully bonded within sixty (60) days after its issue or levy. 

  
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 Section 3.02    Termination by Notice. This Agreement may be
terminated by either party by providing notice to the other at least ninety (90) days in advance of their desire to terminate this Agreement. The termination date as specified in such notice shall then become the Final Maturity Date, with all
of the provisions of Article II which pertain to the Loans and the Note to remain applicable thereto. 
 ARTICLE IV 

MISCELLANEOUS 

Section 4.01    Books and Records. QGC covenants and agrees that, so long as this Agreement shall remain in
effect, QGC will keep proper books of record and account in which full, true and correct entries will be made of all dealings or transactions of or in relation to its business and affairs. 

Section 4.02    Notices. Any communications between the parties hereto or notices provided herein to be given
may be given by mailing or otherwise delivering the same to the Treasurer of DRI, c/o 120 Tredegar Street, Richmond, Virginia 23219, and to the President of QGC, c/o 120 Tredegar Street, Richmond, Virginia 23219, or to such other officers or
addresses as either party may in writing hereinafter specify. 
 Section 4.03    Waivers: Remedies Cumulative or
Other Instruments Evidencing Indebtedness. No delay or omission to exercise any right, power or remedy accruing to DRI under this Agreement shall impair any such right, power or remedy nor shall it be construed to be a waiver of any such right,
power or remedy. Any waiver, permit, consent or approval of any kind or character on the part of DRI of any breach or default under this Agreement, or any waiver on the part of DRI of any provision or condition of this Agreement, must be in writing
and shall be effective only to the extent specifically set forth in such writing. Any such waiver shall not constitute a waiver of any subsequent breach or default under this Agreement or of any provision or condition of this Agreement. All
remedies, either under this Agreement, the Note, statute or rule of law or equity, or otherwise afforded to DRI, shall be cumulative and not alternative and may be exercised concurrently or alternatively. 

Section 4.04    Governing Law. This Agreement, the Note and any other instrument or agreement now or hereafter
required hereunder, shall be governed by, and construed under, the laws of the Commonwealth of Virginia. 

Section 4.05    Restrictions. As long as this Agreement remains in effect, QGC shall not, create, incur,
assume or suffer to exist any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential
arrangement of any kind whatsoever (including without limitation, any conditional sale or other title retention agreement and any capitalized lease obligation having substantially the same economic effect as any of the foregoing), upon any of its
property, assets or revenues, whether now owned or hereafter acquired, without the consent of DRI, except for liens created in the ordinary course of business and liens in existence on the date hereof, as previously disclosed in writing to DRI. 

  
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 Section 4.06    Effectiveness. This Agreement shall become
effective upon the execution and delivery of this Agreement by DRI and QGC. 
 Section 4.07    Counterparts.
This Agreement may be executed in as many counterparts as may be deemed necessary or convenient, all of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. 

Section 4.08    Severability. If any provision of this Agreement or the Note or the application thereof to any
party thereto shall be invalid or unenforceable to any extent, (i) the remainder of this Agreement and the Note, and (ii) the application of such invalid or unenforceable provisions to any other person thereto, shall not be affected
thereby and shall be enforced to the greatest extent permitted by law. 
 Section 4.09    Amendments. No
amendment of any provision of this Agreement or the Note shall be effective unless it is in writing and signed by QGC and DRI. 
 [Signature
Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their duly authorized
officers, as of the date first above written. 
  

			
	QUESTAR GAS COMPANY
		
	By:	 	 /s/ James R. Chapman

		
	Title:	 	 Senior Vice President – Mergers & Acquisitions and Treasurer

	
	DOMINION RESOURCES, INC.
		
	By:	 	 /s/ Richard M. Davis, Jr.

		
	Title:	 	 Assistant Treasurer

  
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 EXHIBIT A 

INTER-COMPANY CREDIT NOTE 
  

			
	$750,000,000	  	Richmond, Virginia
		  	________ __, 20__

 QUESTAR GAS COMPANY, a Utah company (the “Company”), for value received and in consideration of the
execution and delivery by DOMINION RESOURCES, INC., a Virginia corporation (“DRI”), of that certain Inter-Company Credit Agreement, dated as of ________ __, 20__, (the “Agreement”), hereby promises to pay to the order of DRI, on
demand, and in any event on or before one (1) year from the Effective Date of the Agreement, or such other date as shall then be the Final Maturity Date under the Agreement, the principal sum of Seven Hundred Fifty Million Dollars
($750,000,000), or so much thereof as may be outstanding hereunder at such time. 
 The Company also unconditionally promises to pay
interest on the unpaid principal amount of this Note outstanding from time to time, until such principal amount is paid in full, at the rates, at the time and in the manner specified in the Agreement and in accordance with the provisions thereof.
Nothing contained in this Note or in the Agreement shall be deemed to establish or require the payment of a rate of interest in excess of the maximum rate permitted by any applicable law. 

This Note is issued by the Company pursuant to the Agreement, to which reference is made for certain terms and conditions applicable hereto.
Defined terms used in this Note shall, unless the context otherwise requires, have the same meanings assigned to them in the Agreement. 

Both the principal of this Note and interest hereon are payable in lawful money of the United States of America, which will be immediately
available on the day when payment shall become due, at the offices of DRI in the City of Richmond, Virginia. Interest shall be paid on overdue principal hereof and, to the extent legally enforceable, on overdue interest, at the Base Rate as in
effect from time to time plus two hundred (200) basis points. 
 The outstanding principal amount of this Note shall be automatically
increased or decreased upon and to the same extent of any increase or decrease in the outstanding aggregate principal amount of the Loans made under the Agreement; provided, however, that at no time shall the outstanding principal amount of this
Note exceed $750,000,000. Increases and decreases in the amounts due and payable by the Company under this Agreement and the Note shall be evidenced in accordance with the terms of the Agreement. Upon payment in full on the Final Maturity Date of
the principal of and interest on this Note, this Note shall be canceled and returned to the Company and shall be of no further operation or effect. The obligation of the Company to make the payments required to be made on this Note and under the
Agreement and to perform and observe the other agreements on its part contained herein and therein shall be absolute and unconditional and shall not be subject to diminution by set off, counterclaim, defense, abatement or otherwise. 

 All Loans made under the Agreement shall be made in the form of open account advances, repayable
not more than one year from the date of the first advance. All or any portion of the outstanding principal balance hereof, together with interest accrued thereon, shall be payable on demand by DRI. Without limiting the foregoing, upon the occurrence
of an event giving rise to a right on the part of DRI to terminate the Agreement under Section 3.01 thereof, the maturity of this Note may, at the discretion of DRI, be accelerated and the principal balance hereof, together with interest
accrued thereon, may be declared immediately due and payable as provided in the Agreement. 
 Presentment for payment, demand, protest and
notice of demand, notice of dishonor, notice of non-payment and all other notices are hereby waived by the Company, except to the extent expressly provided in the Agreement. No failure to exercise, and no
delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a waiver of such rights. 
 This Note is issued
with the intent that it shall be governed by, and construed in accordance with, the laws of the Commonwealth of Virginia. 
 IN WITNESS
WHEREOF, QUESTAR GAS COMPANY has caused this Note to be duly executed in its name by its duly authorized officer all as of the __th day of _______, 20__. 

 

			
	QUESTAR GAS COMPANY
		
	By:	 	  

		
	Title:	 	 Senior Vice President – Mergers & Acquisitions and TreasurerExhibit 10.1

 

SEPARATION AND GENERAL RELEASE AGREEMENT

This Separation and General Release Agreement (this “Separation Agreement”) entered into this 10th day of March, 2017, by and between Edge Therapeutics, Inc. (“Edge”) and Andrew Einhorn (the “Executive”).

WHEREAS, the Executive was employed as the Chief Financial Officer of Edge pursuant to the Second Amended and Restated Employment Agreement between the Executive and Edge, dated June 8, 2015 (the “Employment Agreement”); and

WHEREAS, the Executive and Edge mutually agreed to terminate the Executive’s employment relationship with Edge, effective as of March 10, 2017 (the “Separation Date”).

NOW, THEREFORE, in consideration of the covenants undertaken and the releases contained in this Separation Agreement, the Executive and Edge, intending to be legally bound, agree as follows:

1.            Termination. The Executive’s position as an officer (including, without limitation, as Chief Financial Officer of Edge), employee, and in any other capacity with Edge terminated on the Separation Date, and all benefits and perquisites of employment ceased as of the Separation Date, except as otherwise specifically provided herein. The Employment Agreement terminated as of the Separation Date; provided, however, that, notwithstanding anything to the contrary in this Separation Agreement, (i) Article 1, Article 8, Article 9 and Articles 12 through 19 of the Employment Agreement shall survive the termination of Executive’s employment with Edge in accordance with their terms and (ii) the Executive Confidentiality and Invention Assignment Agreement between Executive and Edge, which was executed by Executive on March 6, 2014 (the “Executive Confidentiality and Invention Agreement”) shall remain in full force and effect from and after the Separation Date in accordance with its terms.  All payments due to the Executive from Edge on and after the Separation Date shall be determined under the applicable provisions of this Separation Agreement.  The Executive acknowledges and agrees that, to the extent unpaid as of the Separation Date, he is entitled to receive the payment for (i) any earned but unpaid base salary as of the Separation Date, (ii) any accrued but unpaid vacation as of the Separation Date in accordance with Edge’s vacation policy, (iii) reimbursement for any business expenses incurred prior to, but not reimbursed as of, the Separation Date, but only to the extent reimbursable in accordance with Edge’s expense reimbursement policies, (iv) payment of Executive’s 2016 annual bonus based on actual performance (to be paid when 2016 bonuses are paid to active employees) and (v) any vested benefits under Edge’s employee benefit plans in which he was participating immediately prior to the Separation Date, to be provided in accordance with the terms of such plans (collectively, the payments and benefits under clauses (i) through (v), the “Accrued Benefits”).  All unvested options to purchase the common stock of Edge, 0.00033 par value per share (“Common Stock”), held by the Executive as of the Separation Date that are regularly scheduled to vest (i.e., ignoring any potential vesting acceleration) after the one-year anniversary of the Separation Date shall be immediately terminated as of the Separation Date with no compensation, payment or other benefit due to the Executive.

 

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2.            Severance Benefits.  Provided that (i) the Executive executes and does not revoke this Separation Agreement as provided herein and (ii) the Executive does not breach any provision of this Separation Agreement, then Edge shall provide the Executive with the following payments and benefits (collectively, the “Severance Benefits”):

2.1.          an amount equal to twelve months of the Executive’s base salary at the rate in effect on the date immediately prior to the Separation Date, with such amount to be paid in substantially equal installments over the twelve-month period immediately following the Separation Date in accordance with Edge’s normal payroll practices, commencing on the first payroll date following the effective date of this Separation Agreement (and the first such payment shall include a catch-up for any payments that would have been made had this Separation Agreement been effective on the Separation Date);

2.2.          continued vesting during the one year period immediately following the Separation Date of all options to purchase Common Stock held by Executive that are both outstanding and unvested as of the Separation Date, with such vesting to occur in the same manner as if Executive remained employed with Edge on the applicable vesting date;

2.3.          all vested options to purchase Common Stock held by Executive as of the Separation Date (or that become vested after the Separation Date in accordance with Section 2.2 above) shall remain exercisable until the earlier of (x) the thirteen-month anniversary of the Separation Date and (y) the normal expiration date for such option, notwithstanding anything to the contrary in the applicable option grant agreement or equity incentive plan (it being acknowledged that no such option may be exercised until it becomes vested); and

2.4.          reimbursement for the Executive’s health care continuation (COBRA) premiums for 12 months following the Separation Date, provided that (i) such benefits shall not be provided beyond the date on which the Executive becomes eligible for comparable coverage from a subsequent employer and (ii) such benefits shall not be provided to the extent Edge determines it would result in any fine, penalty or tax on Edge or its subsidiaries for being a discriminatory benefit or otherwise not complying with applicable law.

The Executive acknowledges and agrees that payment and provision of the Severance Benefits shall be conditioned upon the Executive’s compliance with his obligations under this Separation Agreement (including, without limitation, Section 4 hereof), as well as his compliance with the Executive Confidentiality and Invention Agreement and the provisions of the Employment Agreement that survive the Separation Date (as set forth in Section 1 hereof).  Edge’s obligation to provide the Severance Benefits shall immediately cease (and all previously provided Severance Benefits shall be repayable promptly by the Executive) in the event that the Executive breaches any obligation under this Separation Agreement, the Executive Confidentiality and Invention Agreement or any of the provisions of the Employment Agreement that survive the Separation Date (as set forth in Section 1 hereof); provided that, in all cases, the Executive shall continue to be subject to such obligations in accordance with their terms.

Executive acknowledges and agrees that the Severance Benefits are in excess of the payments and benefits he would be entitled to receive absent his execution and non-revocation of this Separation Agreement, and are in consideration for his agreements and covenants set forth herein.

 

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3.            Return of Edge Property.  The Executive shall return within five (5) days after the date of this Separation Agreement all property of Edge or any of its affiliates in his possession or under his control, including but not limited to all credit cards, phones, computer-related equipment (e.g., laptop and any other  hardware, software, flash drives, etc.), keys, all originals and copies of books, records, lists (including all customer lists), printouts, intellectual property and any other documents relating to Edge or any of its affiliates.

4.             Release.

4.1.          General Release of Claims.  The Executive on behalf of himself, his descendants, dependents, heirs, executors, administrators, personal representatives, assigns, and successors, and each of them, hereby covenants not to sue and fully releases and discharges Edge and its subsidiaries and affiliates, past and present (together, the “Edge Group”), as well as the trustees, directors, officers, members, managers, agents, attorneys, insurers, employees, representatives, assigns, predecessors and successors, past and present, of each member of Edge Group, and any other person or entity claimed to be jointly or severally liable with any of the foregoing persons or entities, and each of them, hereinafter together and collectively referred to as the “Releasees,” with respect to and from any and all claims, wages, demands, rights, liens, agreements, contracts, covenants, actions, suits, causes of action, obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders and liabilities of whatever kind or nature (collectively “Claims”), in law, equity or otherwise, whether now known or unknown, suspected or unsuspected, accrued or unaccrued, contingent or non-contingent, and whether or not concealed or hidden, which he now has, owns or holds or he has at any time heretofore had, owned or held, against any of said Releasees arising at any time up through and including the date that he signs this Separation Agreement.  These released Claims include, but are not limited to, all Claims arising out of or in any way related to the Executive’s employment with or his service as an officer, director, member or manager of any member of Edge Group, the terms and conditions (including all wages, benefits, and other compensation) of the Executive’s employment with or his service as an officer, director, member or manager of any member of Edge Group, the Executive’s separation from such employment or service, the Executive’s investment in any member of Edge Group, or any other transactions, occurrences, acts or omissions or any loss, damage or injury whatever, known or unknown, suspected or unsuspected, concealed or apparent, accrued or unaccrued, contingent or non-contingent.  Among the specific Claims released by this Separation Agreement are, without limitation: (i) all Claims of employment discrimination based upon any protected characteristic (such as age, race, color, sex, sexual orientation, national origin, religion, and disability/handicap status), including, but not limited to, all Claims arising under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act of 1967 (“ADEA”), the Older Workers Benefit Protection Act, and the New Jersey Law Against Discrimination, each as amended, or any similar federal, state or local law, (ii) all Claims for severance pay, bonus, sick leave, holiday pay, vacation pay, life insurance, health or medical insurance or any other fringe benefit or disability; (iii) all Claims arising under the Employee Retirement Income Security Act of 1974, as amended, or any similar federal, state or local law; (iv) all Claims arising under the Family and Medical Leave Act of 1993, the Equal Pay Act, the Fair Credit Reporting Act, the New Jersey Conscientious Employee Protection Act, the New Jersey Wage and Hour Law, the New Jersey Wage Payment Law, the New Jersey Discrimination in Wages Act, the New Jersey Family Leave Act, the New Jersey Opportunity to Compete Act, the New Jersey Security and Financial Empowerment Act, the New Jersey lie detector test statute (N.J. Stat. Ann. § 2C:40A-1), the New Jersey electronic communications statute (N.J. Stat. Ann. § 34:6B-5 et seq.), and the New Jersey jury duty leave law (N.J. Stat. Ann. § 2B:20-17), each as amended, or any other federal, state or local law; (v) all Claims arising under or relating to the Employment Agreement; and (vi) all common law Claims, including, but not limited to, Claims for breach of contract, defamation, interference with contractual/prospective contractual relations, invasion of privacy, promissory estoppel, negligence, breach of the covenant of good faith and fair dealing, fraud, infliction of emotional distress, wrongful discharge, punitive damages, and any other common law Claims under the laws of any jurisdiction.  It is intended that the language relating to the description of Claims in this Section 4.1 shall be given the broadest possible interpretation permitted by law.  Notwithstanding the foregoing, the above release shall not apply to: (1) Executive’s right to the Accrued Benefits and the Severance Benefits; (2) any right of the Executive to receive workers’ compensation benefits or other rights or Claims that cannot be waived as a matter of law; (3) any right to continue the Executive’s group health benefits in accordance with the Consolidated Omnibus Budget Reconciliation Act; and (4) any express right of the Executive to indemnification under Edge Group’s governing documents.

 

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4.2.          Covenant Not to Sue.  The Executive acknowledges and agrees that he has not filed and will not file (or join, or accept any relief in) a lawsuit against any of the Releasees pleading or asserting any Claims released in the above general release.  If the Executive breaches this promise, and the action is found to be barred in whole or in part by this Separation Agreement, the Executive agrees to pay the attorneys’ fees and costs, or the proportions thereof, incurred by the applicable Releasee in defending against those Claims that are found to be barred by this Separation Agreement, and (i) Edge’s obligation to provide the Severance Benefits shall immediately cease and (ii) Executive shall promptly repay any portion of the Severance Benefits previously paid or provided; provided, however, that in all cases, this Separation Agreement shall continue to be fully effective and enforceable.  Notwithstanding the foregoing, nothing in this Section or this Separation Agreement precludes the Executive from challenging the validity of the release above under the requirements of the ADEA, and the Executive shall not be responsible for reimbursing the attorneys’ fees and costs of the Releasees in connection with such a challenge to the validity of the release, nor shall the Severance Benefits cease or be repayable in the event of such a challenge.  However, the Executive acknowledges that the release contained in this Separation Agreement applies to all Claims the Executive has under the ADEA, and that, unless the release is held to be invalid, all of the Executive’s Claims under the ADEA shall be extinguished by his signing of this Separation Agreement.  In addition, nothing in this Separation Agreement shall preclude or prevent the Executive from filing a charge with, participating in an investigation by or proceeding before, communicating with, or providing truthful information to any governmental agency, entity or self-regulatory organization, including, but not limited to the United States Equal Employment Opportunity Commission, the Department of Justice, the Securities and Exchange Commission, Congress, or any agency Inspector General or other government agency (individually, a “Governmental Agency,” and collectively, the “Governmental Agencies”), but the Executive acknowledges and agrees that the Executive shall not seek or accept any relief obtained on his behalf in any proceeding by any Governmental Agency, private party, class, or otherwise with respect to any Claims covered by this general release (except that this Separation Agreement does not limit the Executive’s right to receive a bounty or reward or award for information provided to any Governmental Agency).  Furthermore, if any Claim is not subject to release, to the extent permitted by applicable law, the Executive waives any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a Claim in which any of the Releasees is a party.  Nothing in this Separation Agreement or otherwise shall prohibit the Executive from reporting possible violations of federal law or regulation to any Governmental Agency, or making other disclosures that are protected under the whistleblower provisions of any applicable law or regulation (it being understood that Executive does not need the prior authorization of Edge to make any such reports or disclosures or to notify Edge that Executive has made such reports or disclosures).

 

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5.             Non-Disparagement.  At all times from and after the Separation Date, the Executive shall not, directly or through any other person or entity, make any public or private statements (whether orally, in writing, via electronic transmission, or otherwise) that disparage, denigrate or malign any of the Releasees.  At all times from and after the Separation Date, Edge shall not direct any of its officers or directors to make, directly or through any other person or entity, any public or private statements that disparage, denigrate or malign the Executive or the Executive’s activities or reputation.  For purposes of clarification, and not limitation, a statement shall be deemed to disparage, denigrate or malign a person or entity if such statement could be reasonably construed to adversely affect the opinion any other person may have or form of such first person or entity.  No obligation of any person or entity under this Section 5 shall be violated by truthful statements (i) made to any Governmental Agency or (ii) which are in connection with legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings).

6.             Miscellaneous

6.1.          Successors and Beneficiaries.  This Separation Agreement is personal to the Executive and shall not, without the prior written consent of Edge, be assignable by the Executive. This Separation Agreement shall inure to the benefit of and be binding upon Edge and its respective successors and assigns and any such successor or assignee shall be deemed substituted for Edge under the terms of this Separation Agreement for all purposes.  The parties agree that each of the Releasees shall be an express third-party beneficiary of this Separation Agreement and may enforce its terms.

6.2.          Waiver. No waiver of any breach of any term or provision of this Separation Agreement shall be construed to be, nor shall be, a waiver of any other breach of this Separation Agreement. No waiver shall be binding unless in writing and signed by the party waiving the breach.

6.3.          Modification. This Separation Agreement may not be amended or modified other than by a written agreement executed by the Executive and Edge.

6.4.          Complete Agreement. This Separation Agreement, the Executive Confidentiality and Invention Agreement and the provisions of the Employment Agreement that survive the Separation Date (as set forth in Section 1 hereof) constitute and contain the entire agreement and final understanding between the parties hereto concerning the subject matter hereof, and supersede and replace all prior negotiations and all agreements proposed or otherwise, whether written or oral, between the parties hereto concerning such subject matter.

 

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6.5.          Notice.  Each notice and other communication hereunder shall be in writing and shall be deemed to have been duly given (i) on the date it is delivered in person, (ii) upon transmission by facsimile if a customary confirmation of transmission is received during normal business hours and, if not, the next business day after transmission, (iii) on the next business day if delivered by overnight mail or other reputable overnight courier, or (iv) the third business day after being mailed if sent by registered mail, return receipt requested, to the parties as follows:

	 	
To Edge:

	
Edge Therapeutics, Inc.

	 	 	
300 Connell Drive, Suite 4000

	 	 	
Berkeley Heights, NJ 07922

	 	 	
Attention: General Counsel

	 	 	
Fax: (908) 790-1212

 With a copy (which shall not constitute notice) to:

	 	
Dechert LLP

	 	
1095 Avenue of the Americas

	 	
New York, New York 10036

	 	
Attention: David S. Rosenthal

	 	
Fax: (212) 698-3599

	 	
To the Executive:

	
Andrew Einhorn

	 	 	
18 Garabrant Street

	 	 	
Mendham, NJ  07945

or in each case to such other address as any party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

6.6.          Severability. If any provision of this Separation Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Separation Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Separation Agreement are declared to be severable.

 

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6.7.          Applicable Law; Arbitration; WAIVER OF JURY TRIAL.  This Separation Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, applied without reference to principles of conflicts of law.  Edge and Executive agree that any and all controversies, claims, or disputes with anyone (including Edge, Executive and any executive, officer, director, shareholder or benefit plan of Edge in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s employment with Edge or the termination of Executive’s employment with Edge, or arising out of or relating to this Agreement, will be subject to binding arbitration.  The parties understand that this agreement to arbitrate also applies to any disputes that Edge may have with Executive.  The parties agree that any arbitration will be administered by the American Arbitration Association (“AAA”) and that a single neutral arbitrator will be selected in a manner consistent with its Employment Arbitration Rules and Mediation Procedures (the “Rules”). All arbitration fees and costs shall be paid by Edge, but the parties shall be responsible for payment of their own attorneys’ fees. The parties agree that the arbitrator will administer and conduct any arbitration in a manner consistent with the Rules. Notwithstanding the foregoing, nothing herein shall limit or alter Edge’s right to seek injunctive or other equitable relief in any court of competent jurisdiction under (and as described in) this Separation Agreement or the Executive Confidentiality and Invention Agreement.  Arbitration shall take place in Trenton, New Jersey.  EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY DISPUTE DIRECTLY OR INDIRECTLY ARISING OUT OF, RELATING TO OR IN CONNECTION WITH THE EXECUTIVE’S EMPLOYMENT OR SERVICE WITH EDGE OR ANY OF ITS AFFILIATES OR THE TERMINATION THEREOF, OR THIS SEPARATION AGREEMENT OR THE VALIDITY, PROTECTION, INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF (WHETHER ARISING IN CONTRACT, EQUITY, TORT, STATUTE, COMMON LAW OR OTHERWISE).

6.8.          Cooperation in Drafting.  Each party hereto has cooperated in the drafting and preparation of this Separation Agreement.  Hence, in any construction to be made of this Separation Agreement, the same shall not be construed against any party on the basis that the party was the drafter.

6.9.          Counterparts. This Separation Agreement may be executed in counterparts and each counterpart, when executed, shall have the efficacy of a signed original. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

 

6.10.       Advice of Counsel. In entering into this Separation Agreement, the parties represent that they have relied upon the advice of their attorneys, who are attorneys of their own choice, and that the terms of this Separation Agreement have been completely read and explained to them by their attorneys, and that those terms are fully understood and voluntarily accepted by them.

6.11.        Supplementary Documents.  All parties agree to cooperate fully and to execute any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force to the basic terms and intent of this Separation Agreement and which are not inconsistent with its terms.

6.12.        Headings.  The section headings contained in this Separation Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Separation Agreement.

 

6.13.        Taxes.  Other than Edge’s obligation to withhold taxes as required by law or regulation, the Executive shall be solely responsible for any taxes imposed on the Executive as a result of the payment or provision of the Severance Benefits and the Accrued Benefits

 

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6.14.       No Admission.  Nothing in this Separation Agreement is, or shall be construed as, an admission by any of the Releasees of any wrongdoing, any such wrongdoing being expressly denied.

7.             Acknowledgements.   The Executive hereby acknowledges and agrees that:

7.1.          This is an important legal document and he is hereby advised to consult with an attorney before signing it;

7.2.          He has been given a period of at least twenty-one (21) days to consider whether to sign this Separation Agreement;

 

7.3.         He may revoke this Separation Agreement at any time within seven (7) days after the date on which he signs it by providing written notice to Edge in accordance with Section 6.5, and this Separation Agreement shall not be effective until after the revocation period has expired without revocation;

7.4.          This Separation Agreement may not be revoked after the expiration of the aforementioned seven (7) day revocation period;

7.5.          Changes made to this Separation Agreement, whether material or nonmaterial, do not restart the aforementioned twenty-one (21) day period;

7.6.          He is not waiving any rights or claims that may arise after the date he signs this Separation Agreement; and

7.7.          He has carefully read this Separation Agreement, understands all the terms of this Separation Agreement, and enters into this Separation Agreement freely, knowingly, and voluntarily.

[signature page follows]

 

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I have read the foregoing Separation Agreement and I accept and agree to the provisions it contains and hereby execute it voluntarily with full understanding of its consequences.

EXECUTED this 13th day of March, 2017.

	 	
EXECUTIVE

	 	 
	 	
/s/ Andrew Einhorn

	 	
Andrew Einhorn

EXECUTED this 13th day of March, 2017.

	 	
EDGE THERAPEUTICS, INC.

	 	 
	 	
/s/ Brian Leuthner

	 	 
	 	
By: 

	
Brian Leuthner

	 	
Its:

	
President and Chief Executive Officer

 

 

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