Document:

EX-10.29

 Exhibit 10.29 

SEPARATION AND CONSULTING SERVICES AGREEMENT 

This SEPARATION AND CONSULTING SERVICES AGREEMENT (this “Agreement”) is entered into as of February 21, 2016 to be effective
on the Effective Date (as defined in Section 1(a) below), by and between Valeritas, Inc. (the “Company”) and Kristine Peterson (“Executive”). 

 
 RECITALS 

WHEREAS, pursuant to the terms of an Employment Agreement, effective as of March 4, 2015, entered into by and between the Company and
Executive (the “Employment Agreement”), Executive has been employed as the Company’s Chief Executive Officer; 

WHEREAS, the Company and Executive have come to a mutual agreement with respect to Executive’s termination from employment with
the Company to be effective February 22, 2016 (the “Termination Date”); 
 WHEREAS, in connection with
Executive’s termination from employment with the Company, at the request of the Board of Directors of the Company (the “Board”), Executive resigns as an officer of the Company and as a member of the Board and any and all
committees or subcommittees thereof, as applicable, effective as of the Termination Date; 
 WHEREAS, as consideration for
Executive’s execution and non-revocation of a release of all claims against the Company and its affiliates contemporaneous with this Agreement, the Company is willing to enter into this Agreement pursuant to which Executive will provide certain
services to the Company as a consultant following the Termination Date for the payments set forth herein; and 
 WHEREAS, as
consideration for Executive’s execution and non-revocation of a release of all claims against the Company and its affiliates upon the Termination Date, the Company desires to provide Executive with the severance payments and benefits set forth
in Section 1(a) below following the Termination Date. 
 NOW, THEREFORE, in consideration of the mutual promises hereinafter set
forth and intending to be legally bound hereby, the parties hereby agree as follows: 
 1. Resignation from Board; Termination from
Employment. Executive resigns as an officer of the Company and as a member of the Board and any and all committee and/or subcommittees thereof, as applicable, as of the Termination Date. Executive’s termination from employment
with the Company shall be effective on the Termination Date. Consistent with Section 5(b) of the Employment Agreement and provided that the terms and conditions set forth herein are satisfied, Executive shall be entitled to the following: 

(a) Severance Payments and Benefits. In consideration of the payments in this Section 1(a), Executive hereby agrees to execute and not
revoke the Release and Waiver of Claims attached hereto as Exhibit A (the “Release”). Provided that the Release becomes effective in accordance with the terms set forth therein (such date the Release becomes effective,

 
the “Effective Date”), and so long as Executive continues to comply with the restrictive covenants and representations in Section 6 of the Employment Agreement, Executive will receive
the following severance payments: 
 (i) Continued Base Salary. The Company will pay Executive a severance payment equal to eighteen
(18) months of base salary at the rate in effect immediately prior to the Termination Date, less applicable tax withholding, which will be paid in equal bi-weekly installments beginning on the sixtieth (60th) day following the Termination Date and
each payroll date thereafter until fully paid, in accordance with the Company’s regular payroll practices, provided that the first such installment payment will include any unpaid severance payments that would have been made on the normal
payroll dates occurring during the first sixty (60) days following the Termination Date. 
 (ii) Health Benefits. For the eighteen
(18) month period following the Termination Date, provided that Executive is eligible for, and timely elects COBRA continuation coverage, the Company will pay on Executive’s behalf, the monthly cost of COBRA continuation coverage under the
Company’s group health plan for Executive and, where applicable, her spouse and dependents, at the level in effect as of the Termination Date, adjusted for any increase in such level paid by the Company for active employees, less the employee
portion of the applicable premiums that Executive would have paid had she remained employed during the such eighteen (18) month period (the COBRA continuation coverage period shall run concurrently with the eighteen (18) month period that COBRA
premium payments are made on Executive’s behalf under this subsection 1(a)(ii)). The reimbursements described herein shall be paid in monthly installments, commencing on the sixtieth (60th) day following the Termination Date, provided that the
first such installment payment shall include any unpaid reimbursements that would have been made during the first sixty (60) days following the Termination Date. Notwithstanding the foregoing, the Company’s payment of the monthly COBRA premiums
in accordance with this subsection 1(a)(ii) shall cease immediately upon the earlier of: (A) the end of the eighteen (18) month period following the Termination Date, or (B) the date that Executive is eligible for comparable coverage with a
subsequent employer. Executive agrees to notify the Company in writing immediately if subsequent employment is accepted prior to the end of the eighteen (18) month period following the Termination Date and Executive agrees to repay to the Company
any COBRA premium amount paid on Executive’s behalf during such period for any period of employment during which group health coverage is available through a subsequent employer. Notwithstanding the foregoing, the Company reserves the right to
restructure the foregoing COBRA premium payment arrangement in any manner necessary or appropriate to avoid fines, penalties or negative tax consequences to the Company or Executive (including, without limitation, to avoid any penalty imposed for
violation of the nondiscrimination requirements under the Patient Protection and Affordable Care Act or the guidance issued thereunder), as determined by the Company in its sole and absolute discretion. 

(iii) 2016 Annual Bonus. The Company will pay to Executive a pro rata annual bonus for fiscal year 2016, which shall be determined
based on Executive’s target bonus for fiscal year 2016 (which target bonus equals 50% of Executive’s base salary), multiplied by a fraction, the numerator of which is fifty-two (52) (representing the number of days in which Executive was
employed by Company during fiscal year 2016), and the denominator of which is three hundred sixty-five (365). The pro rata annual bonus for fiscal year 2016 will be paid on the sixtieth (60th) day following the Termination Date. 

  
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 (b) Accrued Wages and Benefits. Without regard to whether Executive executes or revokes
the Release, the Company will pay or provide Executive with any amounts earned, accrued and owing but not yet paid under Section 3 of the Employment Agreement, including but not limited to base salary for services rendered through the Termination
Date and any benefits accrued and due under any applicable benefit plans and programs of the Company. The Company will pay Executive her accrued but unused vacation. The Company will also pay Executive $112,659, which is the amount of
Executive’s bonus earned for fiscal year 2015 (the “2015 Bonus”), less applicable taxes, which will paid to Executive at the same time and under the same terms and conditions as such bonuses are paid to other executives of the
Company who participate in the 2015 bonus plan. Upon Executive’s receipt of her final paycheck, which includes payment for services through the Termination Date and the amount for accrued but unused vacation, and Executive’s receipt of the
2015 Bonus, Executive will have received all wages and benefits owed to her by virtue of her employment with the Company or termination thereof. Executive is not eligible for any other payments or benefits by virtue of her employment with the
Company or termination thereof except for those expressly described in this Agreement. Executive will receive the payments described in this Section 1(b) whether or not she signs this Agreement. Executive will not receive the separation pay or
benefits described in Section 1(a) of this Agreement if she (i) does not sign this Agreement, (ii) rescinds the release of claims in accordance with the Release, or (iii) violates any of the terms and conditions set forth in this Agreement. The
Company agrees that Executive is not obligated to seek other employment or take any other action by way of mitigation of any of the amounts and benefits payable to her under any of the provisions of this Agreement. 

2. Consulting Services. For twenty-four (24) months following the Termination Date, Executive agrees to provide consulting
services to the Company in accordance with this Section 2. The period commencing on the Termination Date and ending on the earlier of (i) the date on which Executive ceases to provide services in accordance with this Section 2 and (ii) February 18,
2018 is referred to herein as the “Consulting Period,” or the “Term”). 
 (a) Consulting Services to be
Provided. During the Consulting Period, Executive shall perform consulting services for the Company as and when reasonably requested by the Company. In connection therewith, Executive shall provide analyses, participate in meetings and provide
other reasonable consulting services as reasonably assigned to Executive by the Chief Executive Officer of the Company or his designee. The foregoing activities of Executive shall be referred to for purposes of this Agreement as the
“Consulting Services.” 
 (b) Compensation; No Benefits. 

(i) Compensation. During the Consulting Period, the Company shall pay Executive compensation for the Consulting Services equal to $275
per hour (“Consulting Fees”). Executive shall make herself available to perform the Consulting Services, provided however, that the Company is under no obligation to request any Consulting Services during the Consulting Period and
Executive will only be paid the Consulting Fees for Consulting Services actually performed for the Company at the Company’s request. The Company will pay 

  
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Executive for the Consulting Services rendered during the Term upon receipt of a bi-weekly invoice from Executive. The Company will pay the invoice within thirty (30) days of receipt of the
invoice(s). The Company and Executive agree that it is reasonably anticipated that the Consulting Services hereunder will require Executive to render Consulting Services at a level that will not exceed 20% of the average level of services that
Executive rendered to the Company as an employee of the Company. The Company shall reimburse Executive for all reasonable expenses incurred by Executive in connection with the performance of the Consulting Services during the Consulting Period, in
accordance with the Company’s expense reimbursement policies. 
 (ii) No Benefits. As of the Termination Date, Executive shall
not be an employee of the Company and under no circumstances shall she be entitled to participate in or receive any benefit or right as an employee under any Company employee benefit or executive compensation plan, including, without limitation,
employee insurance, pension, savings, medical, health care, fringe benefit, stock option, equity compensation, deferred compensation or bonus plans, regardless of whether Executive’s status is re-characterized by a third party to constitute
employee status during the Consulting Period. 
 (c) Independent Contractor; Performance. Executive’s employment with the
Company shall cease as of the Termination Date. For purposes of this Agreement and all Consulting Services to be provided hereunder, during the Consulting Period, Executive shall not be considered an employee of the Company, but shall remain in all
respects an independent contractor of the Company, and neither party to this Agreement shall have any right or authority to make or undertake any promise, warranty or representation, to execute any contract, or otherwise to assume any obligation or
responsibility in the name of or on behalf of the other party. Executive shall direct the means, manner and method by which she performs the Consulting Services during the Consulting Period. Executive shall perform all Consulting Services in a
professional manner, consistent with industry standards and the Company’s goals and ethical standards as communicated to Executive by the Company. 

(d) Termination of Consulting Services. Although it is the intention of the Company and Executive that the Consulting Services continue
until the twenty-four (24) month anniversary of the Termination Date, either the Company or Executive may terminate the Consulting Services and the provisions of this Agreement relating to the Consulting Services for any reason or no reason,
provided that the terminating party gives the other party thirty (30) days’ notice of termination in accordance with the requirements of Section 12 below. If Executive terminates the Consulting Services, Executive agrees, at the Company’s
reasonable request, to make herself available to assist in the completion of any projects with which Executive was assisting during the Term. Notwithstanding anything in this Agreement to the contrary, if the Company terminates the Consulting
Services for Cause (as defined below), the Consulting Services hereunder shall terminate immediately upon notice of termination to Executive. Following the termination of the Consulting Services for any reason or no reason, Executive will receive
any consulting fees for consulting services rendered but not paid and/or invoiced and unreimbursed expenses through such date of termination not theretofore paid, and the Consulting Services to the Company shall be terminated. Within five (5) days
after Executive ceases to provide any Consulting Services hereunder, Executive shall deliver to the Company all work product resulting from the performance of the Consulting Services. For 

  
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purposes of this Section 2(d), “Cause” shall include the following: (i) Executive’s dishonesty, fraud or misrepresentation in connection with the performance of the
Consulting Services pursuant to the terms hereof, (ii) theft, misappropriation or embezzlement by Executive of the Company’s funds or resources, (iii) Executive’s conviction of, or a plea of guilty or nolo contendere (or a similar
plea) in connection with, any felony, crime involving fraud or misrepresentation, or any other crime, and (iv) a breach by Executive of any material term hereof. 

3. Indemnification. 

(a) Indemnification of Executive. Except as set forth in Section 10 below, the Company shall indemnify, defend and hold harmless
Executive and her heirs, successors and permitted assigns from and against any and all losses, claims, demands, damages, liabilities, expenses (including reasonable legal fees and costs), judgments, fines, penalties, interests, settlements, or other
amounts arising from any and all threatened, pending or completed claims, demands, actions, suits or proceedings, whether civil, criminal, administrative, or investigative, and whether formal or informal and including appeals to which Executive may
become subject to, or involved, or is threatened to be involved as a party or otherwise, arising out of, relating to or in connection with Executive’s performance of the Consulting Services hereunder during the Term, and the performance of her
duties as the Chief Executive Officer and Director of the Company, except in the case of Executive’s bad faith, willful misconduct or gross negligence, in accordance with applicable law, the Company’s corporate governance documents and
pursuant to any applicable insurance policy maintained by the Company from time to time for its directors, officers, senior executives and employees, in each case to the same extent as is accorded to any of such directors, officers, senior
executives and employees of the Company from time to time and to the fullest extent provided under the By-laws of the Company or otherwise. 

(b) Indemnification of the Company. Executive shall indemnify, defend and hold harmless the Company and its affiliates from and against
any losses, claims, demands, damages, liabilities, expenses (including reasonable legal fees and costs), judgments, fines, penalties, interests, settlements, or other amounts arising from any and all threatened, pending or completed claims, demands,
actions, suits or proceedings, whether civil, criminal, administrative, or investigative, and whether formal or informal and including appeals to which the Company or its affiliates may become subject to, or involved, or is threatened to be involved
as a party or otherwise, arising out of, relating to or in connection with, the Consulting Services hereunder during the Term, except in the case of bad faith, willful misconduct or gross negligence of the Company or its affiliates. 

4. Restrictive Covenants. 

(a) Executive and Company agree that Section 6 of the Employment Agreement continues to remain in full force and effect in accordance with the
terms therein and are hereby incorporated by reference. If the Board determines in good faith that Executive has breached the provisions of Section 6 of the Employment Agreement, the Company may cease payment of the severance benefits set forth in
Section 1(a) of this Agreement. 
 (b) Executive and the Company agree that (i) Executive shall not publicly disparage the Company or any of
its respective affiliates, shareholders, partners, directors, officers, employees or agents, and (ii) the Company shall direct its respective directors and officers not to publicly disparage Executive; provided, however, that the foregoing
provisions of this Section 4(b) shall not apply to, and shall not restrict, any statements made by any person or entity in the course of or in connection with litigation or any other adversarial proceeding arising between the parties under this
Agreement. The provisions of this Section 4(b) shall survive any termination of this Agreement and any termination of the Term. 

  
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 5. Non-Admission. It is expressly understood that this Agreement does not
constitute, nor will it be construed as an admission by the Company of any liability or unlawful conduct whatsoever. The Company specifically denies any liability or unlawful conduct. 

6. Section 409A. This Agreement is intended to comply with section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”) and its corresponding regulations, or an exemption, and payments may only be made under this Agreement upon an event and in a manner permitted by section 409A of the Code, to the extent applicable. For purposes of section
409A of the Code, all payments to be made upon a termination of employment under this Agreement may only be made upon a “separation from service” within the meaning of such term under section 409A of the Code, each payment made under this
Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments. In no event shall Executive, directly or indirectly, designate the
calendar year of payment of any severance benefits. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of section 409A of the Code. 

7. No Conflicting Agreements; Non-Exclusive Engagement during the Consulting Period. Other than the Employment Agreement, which
is replaced and superseded by this Agreement, Executive represents that she is not a party to any existing agreement which would prevent her from entering into and performing this Agreement. Executive shall not enter into any other agreement that is
in conflict with her obligations under this Agreement. The Company acknowledges that Executive may enter into an employment agreement with or providing consulting services to a third party during the Consulting Period, subject to Section 4 hereof.
With respect to the Consulting Services to be performed during the Consulting Period, the Company may from time to time engage other persons and entities to act as consultants to the Company and perform similar services for the Company, and enter
into agreements similar to this Agreement with other persons or entities, in all cases without the necessity of obtaining approval from Executive. 

8. Entire Agreement, Amendment and Assignment. Except as otherwise provided in a separate writing between the Company and
Executive, this Agreement, including the attachments hereto, is the sole agreement between the Company and Executive with respect to the subject matter hereof and it supersedes all prior agreements and understandings with respect thereto, and all
prior agreements and understandings with respect to her employment with the Company prior to the Termination Date, whether oral or written, including, but not limited to, the Employment Agreement (except for Sections 6-8 therein). No modification to
any provision of this Agreement shall be binding unless in writing and signed by the Company and 

  
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Executive. All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, executors, administrators, legal
representatives, successors and permitted assigns of the parties hereto, except that the duties and responsibilities of Executive hereunder are of a personal nature and shall not be assignable or delegable in whole or in part by Executive. 

9. Waiver. No waiver of any rights under this Agreement shall be effective unless in writing signed by the party to be charged.
A waiver by any of the parties hereto of a breach of any provision of this Agreement by another party shall not operate or be construed as a waiver of any subsequent breach. 

10. Taxes. All payments under this Agreement shall be made subject to applicable tax withholding, and the Company shall withhold
from any payments under this Agreement, all federal, state and local taxes as the Company is required to withhold pursuant to any law or governmental rule or regulation. Executive shall bear all expense of, and be solely responsible for, all
federal, state and local taxes due with respect to any payment received under this Agreement. 
 11. Governing Law; Venue.
This Agreement shall be governed in accordance with the laws of the State of New Jersey, without regard to the conflicts of law or choice of law principles thereof. If any dispute between the parties leads to litigation, the parties agree that the
courts of the State of New Jersey or the federal courts in New Jersey shall have the exclusive jurisdiction and venue over such litigation. All parties consent to personal jurisdiction in the State of New Jersey, and agree to accept service of
process outside of the State of New Jersey as if service had been made in that state. 
 12. Notices. All notices, demands or
other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when delivered personally to the recipient, two (2) business days after the date when
sent to the recipient by reputable express courier service (charges prepaid) or four (4) business days after the date when mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such notices, demands
and other communications shall be sent to Executive and to the Company at the addresses set forth below, 
  

			
	If to Executive:	  	The most recent address in the Company’s files.
		
		  	With a copy to:
		  	Rick Steiner Fell & Benowitz LLP
		  	90 Broad Street, 25th Floor
		  	New York, New York 10004
		  	Attn: Robert J. Benowitz, Esq.
		  	(212) 422-0158 (facsimile)
		
	If to the Company:	  	Valeritas, Inc.
		  	750 Route 202 South, Suite 600
		  	Bridgewater, NJ 08807
		  	Attention: Human Resources

  
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		  	With a copy to:
		  	Morgan, Lewis and Bockius LLP
		  	502 Carnegie Center
		  	Princeton, NJ 08540
		  	Attn: Steven M. Cohen, Esq.
		  	 (877) 432-9652 (facsimile)

 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice
to the sending party. 
 13. Confidentiality of this Agreement. Executive agrees not disclose to others the fact or terms of
this Agreement, except Executive may disclose such information to her spouse or domestic/civil union partner and to her attorney or accountant (in order for such individuals to render professional services to Executive), so long as such
individuals agree to keep such information confidential. Nothing in this Section 13, or elsewhere in this Agreement, is intended to prevent or prohibit Executive from (a) providing information regarding Executive’s former employment
relationship with the Company, as may be required by law or legal process, (b) cooperating, participating or assisting in any government entity investigation or proceeding, or (c) disclosing to others the fact that she is providing Consulting
Services to the Company. 
 14. Survivability. The respective rights and obligations of the parties under this Agreement shall
survive termination of Executive’s services hereunder to the extent necessary to the intended preservation of such rights and obligations. 

15. Counterparts and Electronic Signatures. This Agreement shall become binding when any one or more counterparts hereof,
individually or taken together, shall bear the signatures of Executive and the Company. This Agreement may be executed in two or more counterparts (including facsimile counterparts or as a “pdf” or similar attachment to an email), each of
which shall be deemed to be an original as against any party whose signature appears thereon, but all of which together shall constitute but one and the same instrument. 

16. Severability. If any provision of this Agreement or application thereof to anyone or under any circumstances is adjudicated
to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this Agreement which can be given effect without the invalid or unenforceable provision or application and
shall not invalidate or render unenforceable such provision or application in any other jurisdiction. 
 17. Headings. The
headings of sections and subsections appearing in this Agreement are inserted for convenience only and shall not control the meaning or interpretation of any provisions of this Agreement. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have duly executed
this Agreement as of the date first above written. 
  

			
	Valeritas, Inc.
		
	By:	 	

		 	  

	Name:	 	John Timberlake
	Title: 	 	CEO
	
	Kristine Peterson
	
	

	  

  
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 Exhibit A 

RELEASE AND WAIVER OF CLAIMS 

In consideration of the severance benefits payable to Kristine Peterson (“Executive”) under Section 1(a) of the attached
Separation and Consulting Services Agreement dated as of February 21, 2016, by and between Valeritas, Inc. (the “Company”) and Executive (the “Agreement”), the terms of which are incorporated by reference to this
Release and Waiver of Claims (the “Release and Waiver”), the consulting services provided thereafter, and the potential Consulting Fees (as defined in the Agreement) provided to Executive in accordance with Section 2(b) of the
Agreement, Executive hereby executes this Release and Waiver on her own behalf and also on behalf of any heirs, agents, representatives, successors and assigns that she has now or may have in the future. 

1.    In exchange for the consideration provided to Executive by the Agreement that Executive is not entitled to receive
absent the Agreement, including but not limited to the applicable severance consideration set forth in Section 1(a) of the Agreement, and the other commitments of the Company in the Agreement, Executive and her heirs, representatives, agents and
attorneys hereby generally and completely, subject to the provisions set forth below in Paragraph 2, releases the Company and any of its predecessors, successors, parents, affiliated or subsidiary companies, and its or their present or former
officers, directors, agents, members of the Board of Directors, representatives or employees, and the various Company benefit plans, committees, trustees, fiduciaries, trusts and their respective successors and assigns, heirs, executors and personal
or legal representatives (collectively referred to as the “Releasees”) from any and all claims or causes of action Executive may have or claim to have against the Releasees including any claims arising out of or relating in any way
to Executive’s employment with the Company and/or the termination of such employment. In waiving and releasing any and all claims against the Releasees, whether or not now known to Executive, Executive understands that this means that if
Executive later discovers facts different from or in addition to those facts currently known by Executive, or believed by Executive to be true, the waivers and releases of this Release and Waiver will remain effective in all respects – despite
such different or additional facts and Executive’s later discovery of such facts, even if Executive would not have signed this Release and Waiver if Executive had prior knowledge of such facts. The claims released include, but are not
limited to: 
 (a)    all claims for monetary damages arising under Title VII of the Civil Rights Act of 1964 (as
amended), Sections 1981 through 1988 of Title 42 of the United States Code (as amended), the Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), the Older Workers Benefit Protection Act of 1990 (“OWBPA”), and the
Americans with Disabilities Act of 1990 (as amended); 
 (b)    any and all other claims, including but not limited to
claims brought under the Rehabilitation Act, Executive Retirement Income Security Act of 1974 (as amended), the Uniformed Services Employment and Reemployment Rights Act of 1994, the National Labor Relations Act (as amended), the Federal Worker
Adjustment and Retraining Notification Act (as amended), the Family and Medical Leave Act of 1993, the Occupational Safety and Health Act’ (as amended), the Equal Pay Act (as amended), the Labor Management Relations Act, New

  
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Jersey Law Against Discrimination, New Jersey Equal Pay Act, New Jersey Civil Rights Law, New Jersey Conscientious Employee Protection Act, New Jersey Family Leave Act, New Jersey Wage and Hour
Law, New Jersey WARN Laws, and the New Jersey Constitution; 
 (c)    all claims arising under any Executive Order or
derived from or based upon any state or federal regulations; 
 (d)    all common law claims, including but not limited
to any and all rights to discovery, claims for wrongful discharge, constructive discharge, violation of public policy, breach of an express or implied contract, breach of an implied covenant of good faith and fair dealing, negligent or intentional
infliction of emotional distress, defamation, conspiracy, tortious interference with contract or prospective economic advantage, promissory estoppel, equitable estoppel, fraud, misrepresentation, detrimental reliance, retaliation, and negligence;

 (e)    all claims for personal injury, including physical injury, mental anguish, emotional distress, pain and
suffering, embarrassment, humiliation, damage to name or reputation, interest, liquidated damages, and punitive damages; and 

(f)    all claims for costs, interest, and attorneys’ fees. 

2.    Notwithstanding the foregoing, the release set forth in Paragraph 1 shall not apply to any claims Executive may have
with respect to the Company’s severance obligations under Section 1 of the Agreement, any rights Executive may have with respect to outstanding equity interests in the Company, rights to indemnification under the Company’s by-laws or
otherwise, or any rights to recover under any director and officer liability insurance policy maintained by the Company for the benefit of its directors, officers, senior executives and employees in accordance with the terms of such director and
officer liability insurance policy. In addition, Paragraph 1 shall in no event apply to any claims that, as a matter of applicable law, are not waivable, Executive’s right to vested benefits under the written terms of the Company’s 401(k)
Plan, claims for unemployment or workers’ compensation benefits, any medical claim incurred during Executive’s employment that is payable under applicable medical plans or an employer-insured liability plan, or claims arising after the
date on which Executive signs the Release and Waiver. Executive and the Company agree that nothing in this Release and Waiver restricts or prohibits Executive from initiating communications directly with, responding to any inquiries from,
providing testimony before, providing confidential information to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency or
entity, including the U.S. Equal Employment Opportunity Commission (“EEOC”), the Department of Labor (“DOL”), the National Labor Relations Board (“NLRB”), the Department of Justice (“DOJ”), the Securities and
Exchange Commission (“SEC”), the Congress, and any agency Inspector General (collectively, the “Regulators”), or from making other disclosures that are protected under the whistleblower provisions of state or federal law
or regulation. However, Executive is waiving Executive’s right to receive any individual monetary relief resulting from such claims, regardless of whether Executive or another party has filed them, and in the event Executive obtains such
monetary relief the Company will be entitled to an offset for the payments made pursuant to Section 1(a) of the Agreement, except where such limitations are prohibited as a matter of law (e.g., under the

  
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Sarbanes-Oxley Act of 2002, 18 U.S.C.A. §§ 1514A). Executive does not need the prior authorization of the Company to engage in such communications with the Regulators, respond to
such inquiries from the Regulators, provide confidential information or documents to the Regulators, or make any such reports or disclosures to the Regulators. Executive is not required to notify the Company that Executive has engaged in such
communications with the Regulators. 
 3.    Executive agrees that Executive will not apply for, nor otherwise seek
or accept, employment or re-employment with the Company or any of its related or successor companies, and Executive forever releases and discharges the Company and its related or successor companies from any obligation to consider Executive for
employment or re-employment in any capacity. 
 4.    Executive acknowledges that, subject to the provisions set forth
in Paragraph 2, any prior agreements between Executive and the Company that impose non-competition, non-solicitation, confidentiality and/or nondisclosure obligations upon Executive shall remain in force and effect. 

5.    Executive acknowledges that Executive has received all amounts due from the Company through Executive’s
termination of employment, including but not limited to all wages earned and payment for all accrued but unused paid vacation time. No other amounts are due to Executive from the Company except pursuant to Section 1(a) of the Agreement. Executive
also represents that there are no existing claims, charges, or complaints filed by Executive against the Releasees in any federal, state or local court or administrative agency. 

6.    Executive acknowledges that the only consideration Executive has received for signing this Release and Waiver is
that set forth herein and in the Agreement. No other promise, inducement, threat, agreement or understanding of any kind or description has been made with or to Executive to cause Executive to enter into this Release and Waiver. Executive further
acknowledges that the consideration Executive is receiving from the Company through this Release and Waiver and the Agreement is greater than any amount Executive would otherwise be entitled to from the Company. 

7.    Executive understands that Executive has been given a period of twenty-one (21) calendar days to review and consider
this Release and Waiver before signing it. Executive also understands that Executive is free to use as much of the twenty-one (21) day period as Executive wishes or considers necessary before deciding to sign this Release and Waiver, provided,
however, that Executive may not sign this Release and Waiver before Executive’s termination of employment. Changes to the Company’s offer contained in this Release and Waiver that are immaterial will not restart the twenty-one (21) day
consideration period. 
 8.    Executive may revoke this Release and Waiver within seven (7) calendar days of signing it
by delivering written notice of revocation to                      at
                     . If Executive has not revoked this Release and Waiver within that seven (7) day period, it becomes effective immediately on the
eighth (8th) day after Executive signs the Release and Waiver. 

  
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 9.    The Company hereby advises Executive to consult with an attorney.
Executive agrees that Executive has had the opportunity to review this Release and Waiver with an attorney, that the Company recommends that Executive review this Release and Waiver with an attorney and that Executive fully understands the terms and
conditions of this Release and Waiver. Executive further acknowledges that Executive accepts the terms of this Release and Waiver and enters into it freely, voluntarily, and without duress or coercion. 

10.    Should any provision of this Release and Waiver be declared or determined by any Court of competent jurisdiction to
be illegal, invalid or unenforceable (except for Paragraph 1), the legality, validity and enforceability of the remaining parts, terms or provisions shall not be affected thereby and the illegal, unenforceable or invalid part, term or provisions
shall be deemed not to be part of this Release and Waiver. 
 11.    This Release and Waiver shall be governed by New
Jersey law, and the Courts of New Jersey, either federal or state, shall have jurisdiction over, and be the proper venue for, any disputes arising out of this Release and Waiver. 

I ACKNOWLEDGE THAT I HAVE CAREFULLY READ THIS RELEASE AND WAIVER OF CLAIMS AND UNDERSTAND ALL OF ITS TERMS, INCLUDING THE FULL AND FINAL RELEASE AND
WAIVER OF CLAIMS SET FORTH ABOVE. I FURTHER ACKNOWLEDGE THAT I HAVE VOLUNTARILY ENTERED INTO THIS RELEASE AND WAIVER OF CLAIMS, THAT I HAVE NOT RELIED UPON ANY REPRESENTATION OR STATEMENT, WRITTEN OR ORAL, NOT SET FORTH IN THIS RELEASE AND WAIVER OF
CLAIMS AND THAT I HAVE BEEN GIVEN THE OPPORTUNITY AND BEEN ENCOURAGED TO HAVE THIS RELEASE AND WAIVER OF CLAIMS REVIEWED BY AN ATTORNEY. 
  

							
	

	 		 	

			
	Name: Kristine Peterson	 		 	On behalf of Valeritas
				
	Date: 3/11/16	 		 	Name:	 	John Timberlake
				
		 		 	Title:	 	CEO
				
		 		 	Date:	 	3/11/16

  
 13EX-10.33

 Exhibit 10.33 

FORM OF LOCK-UP AGREEMENT 

This LOCK-UP AGREEMENT (this “Agreement”) is made as of May 3, 2016 by the undersigned person or entity (the
“Restricted Holder”) in connection with the Merger (as defined below) and the Private Placement Offering (as defined below), and is being delivered to Valeritas Holdings, Inc. (formerly Cleaner Yoga Mat, Inc.), a Delaware
corporation (the “Parent”), Wedbush Securities, Inc. (“Wedbush”), ROTH Capital Partners, LLC (“Roth”) and Katalyst Securities LLC (“Katalyst”, and collectively with Wedbush and Roth, the
“Placement Agents”). 
 WHEREAS, pursuant to the transactions contemplated under that certain Agreement and Plan of Merger
and Reorganization, dated as of May 3, 2016 (the “Merger Agreement”), by and among the Parent, Valeritas Acquisition Corp., a Delaware corporation (the “Acquisition Subsidiary”), and Valeritas, Inc., a Delaware
corporation (the “Company”), the Acquisition Subsidiary will merge with and into the Company, with the Company remaining as the surviving entity after the merger as a wholly-owned subsidiary of the Parent, and the stockholders of
the Company will receive shares of Parent Common Stock (as defined below) in exchange for their capital stock of the Company pursuant to the terms of the Merger Agreement (the “Merger”);  

WHEREAS, simultaneously with the closing of the Merger, Parent will complete a private placement offering (the “Private Placement
Offering”) of a minimum of 5,000,000 shares of common stock of the Parent, par value $0.001 per share (the “Parent Common Stock”), at a purchase price of $5.00 per share; and 

WHEREAS, the Merger Agreement provides that, among other things, eighty percent (80%) of the shares of Parent Common Stock owned by the
Restricted Holder and all securities owned by the Restricted Holder that are convertible into or exercisable or exchangeable for Parent Common Stock, in each case whether owned on the date of closing of the Merger or thereafter acquired, and whether
owned beneficially or of record, including, without limitation, any shares of Parent Common Stock acquired pursuant to the Merger, but excluding any shares of Parent Common Stock purchased in the Private Placement Offering (collectively, the
“Restricted Securities”), shall be subject to certain restrictions on Disposition (as defined herein), and the Restricted Holder will be subject to certain other restrictions relating to the Parent Common Stock, subject to certain
conditions all as more fully set forth herein; 
 NOW, THEREFORE, as an inducement to and in consideration of the Parent’s agreement to
enter into the Merger Agreement and proceed with the Merger and the Private Placement Offering and of the Placement Agent’s agreement to proceed with the Private Placement Offering, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 

	1.	Restrictions.  

 (a) “Restricted Period” means the period commencing on
the closing date of the Merger until the date that is six (6) months after the closing date of the Merger; provided, however, that the Restricted Period shall terminate prior to such date upon the earlier of (a) the listing of the Parent
Common Stock on the New York Stock Exchange, NYSE MKT or NASDAQ or (b) the closing of any underwritten public offering of the Parent’s securities for gross proceeds of at least $50 million, with the written approval of the lead underwriter
of such offering. 
 (b) During the Restricted Period, the Restricted Holder will not, directly or indirectly: (i) offer, sell,
assign, transfer, pledge, hypothecate, contract to sell, grant an option to purchase or otherwise dispose of, or announce the intention to so dispose of, any Restricted Securities or (ii) enter into any swap, hedge or similar agreement or
arrangement that transfers, in whole or in part, the economic consequence of ownership of any Restricted Securities (with the actions described in clause (i) or (ii) above being hereinafter referred to as a “Disposition”).
 
 (c) In addition, during the period of twelve (12) months immediately following the closing date of the Merger, the
Restricted Holder will not, directly or indirectly, effect or agree to effect any short sale (as defined in Rule 200 under Regulation SHO of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) with respect to any
shares of Parent Common Stock, whether or not against the box, establish any “put equivalent position” (as defined in Rule 16a-1(h) under the Exchange Act) with respect to any shares of Parent Common Stock, borrow or pre-borrow any shares
of Parent Common Stock, or grant any other right (including, without limitation, any put or call option) with respect to shares of the Parent Common Stock or with respect to any security that includes, is convertible into or exercisable for or
derives any significant part of its value from shares of the Parent Common Stock or otherwise seek to hedge the Restricted Holder’s position in the Parent Common Stock. 

(d) Notwithstanding anything contained herein to the contrary, the restrictions set forth in Section 1(b) shall not apply to: 

 

	 	(i)	if the Restricted Holder is a natural person, any transfers made by the Restricted Holder (A) as a bona fide gift to any member of the immediate family (as defined below) of the Restricted Holder or to a trust the
beneficiaries of which are exclusively the Restricted Holder or members of the Restricted Holder’s immediate family, (B) by will or intestate succession upon the death of the Restricted Holder or (C) as a bona fide gift to a charity
or educational institution; 

  

	 	(ii)	if the Restricted Holder is a corporation, partnership, limited liability company or other business entity, any transfers to a charitable organization, or to any current or former stockholder, partner, manager,
director, officer, employee or member of, or owner of a similar equity interest in, the Restricted Holder or its affiliates, as the case may be, if, in any such case, such transfer is not for value, including the subsequent transfer by any of the
previously described transferees to a charitable organization; 

  
 2 

	 	(iii)	if the Restricted Holder is a corporation, partnership, limited liability company or other business entity, any transfer made by the Restricted Holder 

 

	 	(A)	in connection with the sale or other bona fide transfer in a single transaction of all or substantially all of the Restricted Holder’s capital stock, partnership interests, membership interests or other similar
equity interests, as the case may be, or all or substantially all of the Restricted Holder’s assets, in any such case not undertaken for the purpose of avoiding the restrictions imposed by this Agreement, 

 

	 	(B)	to another corporation, partnership, limited liability company or other business entity so long as the transferee is an affiliate (as defined below) of the Restricted Holder, or 

 

	 	(C)	to any investment fund or other entity that controls or manages the Restricted Holder (including, for the avoidance of doubt, a fund managed by the same manager or managing member or general partner or management
company or by an entity controlling, controlled by, or under common control with such manager or managing member or general partner or management company as the Restricted Holder or who shares a common investment advisor with the Restricted Holder)
and such transfer is not for value; 

  

	 	(iv)	if the Restricted Holder is a trust, to a trustor or beneficiary of the trust and such transfer is not for value; 

  

	 	(v)	sales of Restricted Securities that have been acquired in open market transactions after the closing date of the Merger; 

  

	 	(vi)	any transfers of Restricted Securities to the Parent upon a vesting event or upon the exercise of options or warrants to purchase the Parent’s securities, in each case on a “cashless” or “net
exercise” basis solely to cover tax withholding obligations of the Restricted Holder in connection with such vesting or exercise; 

  

	 	(vii)	any transfers of the Restricted Securities by operation of law, including pursuant to a domestic order or a negotiated divorce settlement; 

 

	 	(viii)	any transfers of the Restricted Securities to the Parent pursuant to agreements under which the Parent has the option to repurchase such Restricted Securities or the Parent has a right of first refusal with respect to
transfers of such Restricted Securities; 

  

	 	(ix)	any transfers of the Restricted Securities pursuant to a bona fide third-party tender offer, merger, consolidation or other similar transaction made to all holders of Restricted Securities involving a change of control
of the Parent, provided that such transaction has been approved by the disinterested members of the Board of Directors of Parent; 

  
 3 

	 	(x)	the exercise of any right with respect to, or the taking of any other action in preparation for, a registration by the Parent of Restricted Securities; or 

 

	 	(xi)	the resale of shares of Parent Common Stock by the Restricted Holder in any secondary underwritten offering by the Parent of Parent equity securities registered under the Securities Act of 1933, as amended (the
“Securities Act”). 

 provided, however, that 

 

	 	(A)	in the case of any transfer described in clause (i), (ii), (iii), (iv) or (vii) above, it shall be a condition to the transfer that the transferee executes and delivers to the Parent not later than one
(1) business day prior to such transfer, a written agreement in substantially the form of this Agreement covering the transferred Restricted Securities for the balance of the Restricted Period (it being understood that any references to
“immediate family” in the agreement executed by such transferee shall expressly refer only to the immediate family of the Restricted Holder and not to the immediate family of the transferee) and otherwise reasonably satisfactory in form
and substance to the Parent, 

  

	 	(B)	in the case of any transfer described in clause (i), (ii), (iii), (iv) or (v) above, such transfers are not required to be reported under Section 16 of the Exchange Act, and the Restricted Holder does not
otherwise voluntarily effect any public filing or report regarding such transfers during the Restricted Period, 

  

	 	(C)	in the case of any transfer to the Parent described in clause (vi) above, (1) such transfers are not required to be reported under Section 16 of the Exchange Act, and the Restricted Holder does not
otherwise voluntarily effect any public filing or report regarding such transfers during the first 30 days of the Restricted Period and (2) after such 30 days, any filing under Section 16 of the Exchange Act related to such transfer shall
clearly indicate in the footnotes thereto that (a) the filing relates to the circumstances described in clause (vi) above, (b) no shares were sold by the reporting person and (c) any remaining shares received upon exercise of an
option or a warrant (net of any shares transferred in connection with such “cashless” or “net exercise” to cover tax withholding obligations) or the remaining vested shares are subject to a written agreement with the Parent in
substantially the form of this Agreement for the balance of the Restricted Period, 

  

	 	(D)	in the case of any transfer described in clause (ix) above, in the event that the tender offer, merger, consolidation or other such transaction is not completed, the Restricted Securities owned by the Restricted
Holder shall remain subject to the restrictions contained in this Agreement, and 

  
 4 

	 	(E)	in the case of clause (x) above, no actual transfer or other Disposition of the Restricted Holder’s Restricted Securities registered pursuant to the exercise of such rights under clause (x) shall occur
during the Restricted Period. 

 For purposes of clause (ix), “change of control” shall mean the transfer (whether by tender
offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons, of the Parent’s voting securities if, after such transfer, such person or group of
affiliated persons would hold more than 50% of the outstanding voting securities of the Parent (or the surviving entity). 
 For purposes of this subsection
(d), “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin; and “affiliate” shall have the meaning set forth in Rule 405 under the Securities Act. 

(e) Furthermore, during the Restricted Period, the Restricted Holder may exercise any rights to purchase, exchange or convert any stock
options granted pursuant to the Parent’s equity incentive plans existing as of the date of the Merger or warrants or any other securities existing as of the date of the Merger, which securities are convertible into or exchangeable or
exercisable for Parent Common Stock, if and only if the shares of Parent Common Stock received upon such exercise, purchase, exchange or conversion shall remain subject to the terms of this Agreement. 

(f) In addition, the restrictions on transfer and disposition of the Restricted Securities during the Restricted Period shall not apply to the
repurchase of Restricted Securities by the Parent in connection with the termination of the Restricted Holder’s employment or other service with the Parent or any of its subsidiaries. 

(g) Notwithstanding anything herein to the contrary, nothing herein shall prevent the Restricted Holder from establishing a 10b5-1 trading
plan that complies with Rule 10b5-1 under the Exchange Act (“10b5-1 Trading Plan”) or from amending an existing 10b5-1 Trading Plan so long as there are no sales or other Dispositions of Restricted Securities under such plans during
the Restricted Period; and provided that no public announcement or filing under the Exchange Act, if any, is required or voluntarily made by or on behalf of the Restricted Holder or the Parent during the Restricted Period regarding the
establishment of a 10b5-1 Trading Plan or the amendment of a 10b5-1 Trading Plan. 
  

	2.	Legends; Stop Transfer Instructions. 

 The Restricted Holder hereby consents to the
placing of legends or the entry of stop transfer instructions with the Parent’s transfer agent and registrar against the transfer of the Restricted Securities, except in compliance with this Agreement. 

 

	3.	Miscellaneous.  

 (a) Specific Performance. The Restricted Holder agrees that in
the event of any breach or threatened breach by the Restricted Holder of any covenant, obligation or other provision contained in this Agreement, then each of the Placement Agents and the Parent shall be entitled (in addition to any other remedy
that may be available to the Parent) to: (i) a decree or 

  
 5 

 
order of specific performance or mandamus to enforce the observance and performance of such covenant, obligation or other provision; and (ii) an injunction restraining such breach or
threatened breach. The Restricted Holder further agrees that none of the Placement Agents, the Parent, nor any other person or entity shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to
obtaining any remedy referred to in this Section 3, and the Restricted Holder irrevocably waives any right that he, she, or it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

(b) Other Agreements. Nothing in this Agreement shall limit any of the rights or remedies of the Parent under the Merger
Agreement, or any of the rights or remedies of the Placement Agents or the Parent or any of the obligations of the Restricted Holder under any other agreement between the Restricted Holder, the Placement Agents and/or the Parent or any certificate
or instrument executed by the Restricted Holder in favor of any of the Placement Agents or the Parent; and nothing in the Merger Agreement or in any other agreement, certificate or instrument shall limit any of the rights or remedies of the
Placement Agents or the Parent or 
 (c) any of the obligations of the Restricted Holder under this Agreement. 

(d) Notices. All notices, consents, waivers, and other communications which are required or permitted under this Agreement shall
be in writing and will be deemed given to a party on (a) the date of delivery, if delivered to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) the date of transmission if sent by
facsimile or e-mail with confirmation of transmission by the transmitting equipment if such notice or communication is delivered prior to 5:00 P.M., New York, New York, time, on a business day, or the next business day after the date of
transmission, if such notice or communication is delivered on a day that is not a business day or later than 5:00 P.M., New York, New York, time, on any business day; (c) the date received or rejected by the addressee, if sent by certified
mail, return receipt requested; or (d) seven days after the placement of the notice into the mails (first class postage prepaid), to the party at the address, facsimile number, or email address furnished by the such party, 

  
 6 

			
	 If to the Parent:
  

Valeritas Holdings, Inc
 750 Route 202 South, Suite 600

Bridgewater, New Jersey 08807
 Main: 908-927-9920

Attn: John Timberlake, CEO
 Facsimile: 908-927-9927

Email: jtimberlake@valeritas.com
  

If to Wedbush or Roth:
  

Wedbush Securities Inc.
 Two Embarcadero Center,

Suite 600
 San Francisco, CA 94111

Attn: Equity Capital Markets
  

ROTH Capital Partners, LLC
 888 San Clemente

Suite 400
 Newport Beach, CA 92660

Attn: Michael Margolis, R.Ph., Managing
 Director

If to Katalyst:
  

Katalyst Securities LLC
 1330 Avenue of the Americas, 14th
 Floor New York, NY 10019

Attn: Michael Silverman, Managing
 Director
	 	 With a copy (which copy shall not constitute notice hereunder) to:
  

Morgan, Lewis & Bockius LLP
 502 Carnegie Center

Princeton, New Jersey 08540-6241
 Main: 609-919-6600

Attn: Emilio Ragosa
 Facsimile: 609-919-6701

Email: emilio.ragosa@morganlewis.com
  

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

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
 One Financial
Center
 Boston, MA 02111
 Attn: William C. Hicks, Esq.

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

 
 Barbara J. Glenns, Esq.

Law Office of Barbara J. Glenns, Esq.
 30 Waterside Plaza, Suite
25G
 New York, NY 10010

 If to the Restricted Holder: 

To the address set forth on the signature 
 page hereto. 

Any party may give any notice, request, demand, claim or other communication hereunder using any other means (including personal delivery,
expedited courier, messenger service, telecopy, telex, ordinary mail or electronic mail), but no such notice, request, demand, claim or other communication shall be deemed to have been duly given unless and until it actually is received by the party
for whom it is intended. Any party may change the address to which notices, requests, demands, claims, and other communications hereunder are to be delivered by giving the other Parties notice in the manner herein set forth. 

(e) Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall
not affect the validity or enforceability of 

  
 7 

 
the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. If the final judgment of a
court of competent jurisdiction declares that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination shall have the power to limit the term or provision, to delete specific words
or phrases, or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement
shall be enforceable as so modified. In the event such court does not exercise the power granted to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable term or provision with a valid and enforceable term or
provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term. 

(f) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York,
without reference to the principles thereof relating to the conflict of laws. 
 (g) Waiver; Termination. No failure on the
part of the Placement Agents or the Parent to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of the Placement Agents or the Parent in exercising any power, right, privilege or remedy under this
Agreement, shall operate as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof or of any other power, right,
privilege or remedy. None of the Placement Agents nor The Parent shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of such claim, power, right,
privilege or remedy is expressly set forth in a written instrument duly executed and delivered on behalf of each of the Placement Agents or the Parent, as applicable; and any such waiver shall not be applicable or have any effect except in the
specific instance in which it is given. If the Merger Agreement is terminated, this Agreement shall thereupon terminate. 
 (h)
Captions. The captions contained in this Agreement are for convenience of reference only, shall not be deemed to be a part of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement.

 (i) Further Assurances. The Restricted Holder hereby represents and warrants to each of the Placement Agents and the Parent
that the Restricted Holder has full power and authority to enter into this Agreement and that this Agreement has been duly authorized (if the Restricted Holder is not a natural person), executed and delivered by the Restricted Holder and is a valid
and binding agreement of the Restricted Holder. 
 (j) Entire Agreement. This Agreement sets forth the entire understanding of
the Placement Agents, the Parent and the Restricted Holder relating to the subject matter hereof and supersedes all other prior agreements and understandings between the Parent and the Restricted Holder relating to the subject matter hereof. 

(k) Non-Exclusivity. The rights and remedies of each of the Placement Agents and the Parent hereunder are not exclusive of or
limited by any other rights or remedies which the Placement Agents or the Parent may have, whether at law, in equity, by contract or otherwise, all of which shall be cumulative (and not alternative). 

  
 8 

 (l) Amendments. This Agreement may not be amended, modified, altered or
supplemented other than by means of a written instrument duly executed and delivered on behalf of each of the parties hereto. 
 (m)
Binding Nature. This Agreement and all authority herein conferred are irrevocable and shall survive the death or incapacity of the Restricted Holder (if a natural person) and shall be binding upon the heirs, personal representatives,
successors and assigns of the Restricted Holder. 
 (n) Survival. Each of the representations, warranties, covenants and
obligations contained in this Agreement shall survive the consummation of the Merger. 
 [Signature Page to Follow] 

  
 9 

 IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Agreement as of the
date first set forth above. 
  

									
		 	RESTRICTED HOLDER:
		
	If an individual:	 	If an entity:
		 	Print Name of Entity:
				
	Sign:	 	  
	 		 	  

	Print Name:	 	
		 	By (sign):	 	  

		 		 	Print Name:
	Signature (if Joint Tenants or Tenants in Common)	 		 	Print Title:

											
					
	Address:	 		 		 		 	
					
	  
	 		 		 		 	
	  
	 		 		 		 	
	  
	 		 		 		 	

 [Signature Page to the Lock-Up Agreement]

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