Document:

Exhibit

CONFIDENTIAL SETTLEMENT AGREEMENT AND RELEASE
This Confidential Settlement Agreement and Release (the “Settlement Agreement”) is made and entered into by and between Gaiam, Inc. and Gaiam Americas, Inc. (collectively referred to as “Gaiam”) and Cinedigm Corp. and Cinedigm Entertainment Holdings, LLC (collectively referred to as “Cinedigm”) as of September 29, 2015 (the “Effective Date”). Gaiam and Cinedigm are referred to in this Settlement Agreement individually as a “Party” and collectively as the “Parties.”
1.BACKGROUND FACTS
This Settlement Agreement is made in light of the following facts:
		
	1.1
	As of approximately October 17, 2013, the Parties entered into the Membership Interest Purchase Agreement (“MIPA”), the Transition Services Agreement (“TSA”), the Cash Allocation Agreement (“CAA”), the Escrow Agreement, and the Contribution Agreement (collectively, and including any amendments to the foregoing, the “Agreements”) in connection with Cinedigm’s acquisition of Gaiam’s entertainment media business (or “EMB”) (herein, the “Acquisition”);

		
	1.2
	After the Acquisition’s closing, Gaiam provided certain services to Cinedigm pursuant to the TSA and the CAA (the “TSA/CAA Services”);

		
	1.3
	On January 19, 2015, Gaiam filed a Demand for Arbitration with the American Arbitration Association (“AAA”), and several days later Cinedigm filed a Counterclaim (which was subsequently amended), and the action was styled as Gaiam, Inc., et al. v. Cinedigm Corp., et al., Case No. 01-15-0002-4437 (the “AAA Arbitration”);

		
	1.4
	On February 11, 2015, Cinedigm filed a state court complaint to compel Gaiam to participate in a working capital arbitration, which was removed on March 4, 2015 to the United States District Court for the Central District of California and was thereafter styled as Cinedigm Corp., et al. v. Gaiam, Inc., et al., Case No. 2:15-cv-01557-SJO-AS (the “Court Litigation”).

		
	1.5
	Pursuant to an engagement letter entered into as of May 15, 2015, the parties commenced a working capital arbitration before Mr. Troy Dahlberg of KPMG (“KPMG”), and a Final Determination was issued as of September 11, 2015 (the “Working Capital Arbitration”);

Now, therefore, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
2.    SETTLEMENT OBLIGATIONS
		
	2.1
	Within three (3) business days after the Effective Date, the Parties shall file a joint stipulation and proposed order with the arbitrator in the AAA Arbitration to dismiss all claims and counterclaims in the AAA Arbitration with prejudice, and with each side bearing its own fees and costs.

		
	2.2
	Gaiam will not seek to confirm the arbitration award issued by KPMG in the Working Capital Arbitration, or to otherwise demand payment thereunder.  The Parties agree to bear their own fees and costs in connection with the Working Capital Arbitration.

NY01\SherC\4260976.2

		
	2.3
	Within fourteen (14) business days after the Effective Date, Gaiam will pay $2.3 million (Two Million Three Hundred Thousand Dollars) to Cinedigm via wire payment to the following account, as follows:

ACCOUNT NAME:
CINEDIGM CORPORATION CONCENTRATION ACCOUNT
ACCOUNT NUMBER:
 
ABA NUMBER:
322270288
SWIFT CODE:
OWBKUS6L
BANK:
CIT Bank, N.A., 
888 East Walnut Street 
Pasadena, CA 91101 
Contact: Joel Martinez, Assistant Vice President Client Banking Services 
Tel: 626-535-2331
		
	2.4
	The Parties agree that they will conduct a further arbitration (herein, the “Reconciliation Arbitration”). In this regard, Cinedigm alleges that Gaiam has improperly retained cash received after the Acquisition’s closing relating to the EMB and which is owed to Cinedigm, as reflected by the amounts identified in lines A through T of the chart entitled “Accounts Receivable Reconciliation” and submitted by Cinedigm in connection with the September 13, 2015 mediation, and which is attached hereto as Exhibit A.  Gaiam, for its part, denies that Cinedigm’s allegations have any merit and further disagrees with (1) the dollar amounts listed on lines A through T of Exhibit A; (2) the descriptions and categorizations that appear on lines A through T of Exhibit A; and (3) Cinedigm’s assertion that lines A through T of Exhibit A constitute the entire universe of transactions relevant to its contentions.  The Parties, however, have agreed that the following provisions shall govern the Reconciliation Arbitration:

		
	2.4.1
	The arbitrator’s sole task (and sole authority) in the Reconciliation Arbitration shall be to calculate the Cash Remittance Shortfall (if any).

		
	2.4.2
	“Cash Remittance Shortfall” shall mean the amount (if any) by which Gaiam’s EMB Post-Closing Cash Receipts exceed Gaiam’s EMB Post-Closing Remittances. “Gaiam’s EMB Post-Closing Cash Receipts” shall mean cash actually received by Gaiam after closing in payment of “Media Co. Receivables” (as defined by the MIPA and by the CAA). Gaiam’s EMB Post-Closing Cash Receipts expressly include cash receipts for receivables identified in the final calculation of Closing Working Capital and cash receipts for Media Co Receivables from post-Acquisition sales, but expressly exclude the $2,000,000 that Gaiam was contractually entitled to retain under the MIPA with respect to Netflix receivables.  For the avoidance of doubt, Gaiam’s allocation of and accounting for Gaiam’s EMB Post-Closing Cash Receipts shall be considered by the arbitrator in order to calculate the Cash Remittance Shortfall (if any). “Gaiam’s EMB Post-Closing Remittances” shall mean monies that Gaiam remitted directly to Cinedigm or to the “Escrow Account” (as defined in the MIPA) for distribution to Cinedigm as specified by the CAA.

NY01\SherC\4260976.2

		
	2.4.3
	For the avoidance of doubt, the purported validity or invalidity of any receivable (including any chargeback debit memo) under GAAP or otherwise, including whether a receivable (or chargeback debit memo) is “collectible,” shall not be considered by the arbitrator.  By way of example, and not by limitation, the arbitrator shall not consider lines U through Z of Exhibit A to this Settlement Agreement.  It is expressly agreed that such matters are outside the scope of the Reconciliation Arbitration.

		
	2.4.4
	The Parties shall mutually select a single arbitrator (“Arbitrator”), who must be a CPA presently employed by a recognized firm capable of serving as an accounting expert and who must have experience with accounting for sales of retail consumer products, to preside over the Reconciliation Arbitration.  This selection shall occur within 15 days after the Effective Date.  The Parties further agree that the Arbitrator may, in his or her discretion, retain an independent consultant (who must be jointly approved by the Parties) who has knowledge regarding the physical and digital distribution of retail consumer products, including the process of reconciling accounts receivable with chargebacks and other debits, in order to assist with the Reconciliation Arbitration (“Independent Consultant”).

		
	2.4.5
	The Parties agree that any documents that they produced or used in the Working Capital Arbitration and/or in the AAA Arbitration may be used in the Reconciliation Arbitration.  Additionally, subject to the entry of a non-disclosure agreement, the Parties agree to provide the Arbitrator with access to any non-attorney-client-privileged information that the Arbitrator deems necessary to conduct the Reconciliation Arbitration and to calculate the Cash Remittance Shortfall, including non-privileged information related to Gaiam’s separate fitness business and Gaiam’s accounting records and information related to Cinedigm’s consolidated entertainment business and Cinedigm’s accounting records.  The Parties will also provide all such information provided to the Arbitrator to the other Party.

		
	2.4.6
	The Arbitrator shall have the authority to conduct the Reconciliation Arbitration in the manner that he or she deems appropriate.  The Parties, however, will be afforded the opportunity to submit initial briefs setting forth their respective positions in writing, as well as the opportunity to file replies to the initial briefs.  To the extent the Arbitrator deems oral argument to be necessary, oral argument in the Reconciliation Arbitration shall be held as requested by the Arbitrator.  The Arbitrator will use his or her best efforts to complete the arbitration process no later than 60 days after the Arbitrator has been selected.  The Parties shall also request that the Arbitrator issue a reasoned award.

		
	2.4.7
	Gaiam will pay to Cinedigm an amount equal to the Cash Remittance Shortfall, provided that in no event shall such payment be less than $1 million or more than $5 million.  By way of example, and for purposes of illustration only:

		
	Ù
	If the Arbitrator determines that the Cash Remittance Shortfall is $10,000, then Gaiam will pay $1 million to Cinedigm;

		
	Ù
	If the Arbitrator determines that the Cash Remittance Shortfall is $3 million, then Gaiam will pay $3 million to Cinedigm; or

		
	Ù
	If the Arbitrator determines that the Cash Remittance Shortfall is $7 million, then Gaiam will pay $5 million to Cinedigm.

Neither the existence nor the amounts of the foregoing minimum and maximum awards shall be disclosed to the Arbitrator.

NY01\SherC\4260976.2

		
	2.4.8
	Within five (5) business days after the Arbitrator renders the final award in the Reconciliation Arbitration, the Parties will notify each other as to whether they intend to file a petition to vacate and/or modify the final award.  If neither Party provides notice of its intent to file such a petition within the foregoing period, Gaiam will, within five (5) business days thereafter, pay to Cinedigm the Cash Remittance Shortfall, consistent with and subject to the limitations identified in paragraph 2.4.7 above, via wire payment as described in paragraph 2.3 above.  If Gaiam provides notice of its intent to file such a petition within the foregoing period, Gaiam will pay to Cinedigm $1.0 million of the Cash Remittance Shortfall identified in the Arbitrator’s final award, representing the minimum award allowable under paragraph 2.4.7 above, within five (5) business days after providing such notice of intent.

		
	2.4.9
	Each side shall bear its own fees and costs in connection with the Reconciliation Arbitration, and shall split the Arbitrator’s fees equally (as well as any fees incurred by an Independent Consultant).

3.    RELEASE
		
	3.1
	Release of Claims.

		
	3.1.1
	Except for the obligations under this Settlement Agreement, Gaiam, on behalf of itself and on behalf of each of its predecessors, successors, parents, subsidiaries, and affiliated or related companies, and each of their respective present and former officers, directors, employees, representatives, agents, attorneys, insurers, and assigns, and each of them (the “Gaiam Releasing Parties”), hereby knowingly and voluntarily fully and forever releases and discharges Cinedigm and its predecessors, successors, parents, subsidiaries, and affiliated or related companies,

		
	3.1.2
	 and each of their respective present and former officers, directors, employees, representatives, agents, attorneys, insurers, and assigns, and each of them (the “Cinedigm Releasees”), from any and all claims, demands, liens, actions, suits, causes of action, obligations, controversies, debts, costs, attorneys’ fees, expenses, damages, judgments, orders, and liabilities of whatever kind or nature in law, equity, or otherwise, by reason of any matter, cause, or thing whatsoever, whether now known or unknown, suspected or unsuspected, subject to dispute or otherwise, from the beginning of time through the Effective Date, that the Gaiam Releasing Parties, or any of them, may have had, now have, or may hereafter purport to have against the Cinedigm Releasees, or any of them, including, without limitation, with respect to any matters arising out of, in connection with, or related to the Agreements, the Acquisition, the TSA/CAA Services, the AAA Arbitration, the Court Litigation, and/or the Working Capital Arbitration (the “Gaiam Released Claims”).

		
	3.1.3
	Except for the obligations under this Settlement Agreement, Cinedigm, on behalf of itself and on behalf of each of its predecessors, successors, parents, subsidiaries, and affiliated or related companies, and each of their respective present and former officers, directors, employees, representatives, agents, attorneys, insurers, and assigns, and each of them (the “Cinedigm Releasing Parties”), hereby knowingly and voluntarily fully and forever releases and discharges Gaiam and its predecessors, successors, parents, subsidiaries, and affiliated or related companies, and each of their respective present and former officers, directors, employees, representatives, agents, attorneys, insurers, and assigns, and each of them (the “Gaiam Releasees”), from any and all claims, demands, liens, actions, suits, causes of action, obligations, controversies, debts, costs, attorneys’ fees, expenses, damages, judgments, orders, and liabilities of whatever kind or nature in law, equity, or otherwise, by reason of any matter, cause, or thing whatsoever, whether now known or unknown, suspected or unsuspected, subject to dispute or otherwise, from the beginning of time through the Effective Date, that the Cinedigm Releasing Parties, or any of them, may have had, now have, or 

NY01\SherC\4260976.2

may hereafter purport to have against the Gaiam Releasees, or any of them, including, without limitation, with respect to any matters arising out of, in connection with, or related to the Agreements, the Acquisition, the TSA/CAA Services, the AAA Arbitration, the Court Litigation, and/or the Working Capital Arbitration (the “Cinedigm Released Claims”).
		
	3.1.4
	The term “Releasing Parties” means, as applicable, the Gaiam Releasing Parties and/or the Cinedigm Releasing Parties.  The term “Releasees” means, as applicable, the Gaiam Releasees and/or the Cinedigm Releasees.  The term “Released Claims” means, as applicable, the Gaiam Released Claims and/or the Cinedigm Released Claims.

		
	3.2
	Other or Additional Facts.  The Releasing Parties expressly and knowingly acknowledge that they may hereafter discover facts different from or in addition to those which they now know or believe to be true with respect to the Released Claims, and which, if known to them at the time they executed this Settlement Agreement, may have materially affected their decision to execute this Settlement Agreement.  The Releasing Parties acknowledge and agree that by reason of this Settlement Agreement and the releases contained herein, they are voluntarily, knowingly, and after receiving the advice of counsel assuming any risk of such unknown facts and such unknown and unsuspected claims and that this Settlement Agreement shall be and shall remain in full force and effect in all respects.

		
	3.3
	Unknown Claims.  The Releasing Parties further acknowledge that they have been advised of the existence of § 1542 of the California Civil Code, which provides:

A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.
Notwithstanding such provision, this Settlement Agreement shall constitute a full release of the Released Claims in accordance with its terms.  The Releasing Parties knowingly and voluntarily waive the provisions of § 1542, as well as any other statute, law, or rule of similar effect.
		
	3.4
	Covenant Not to Sue.  Except for the Reconciliation Arbitration and/or for the purpose of otherwise enforcing the terms of this Settlement Agreement, the Releasing Parties agree to refrain and forbear forever from commencing, instituting, prosecuting, or directly or indirectly participating in, or filing any claim for damages or demand in connection with, any lawsuit, action, or proceeding against the Releasees, or any of them, based upon any of the Released Claims.

4.    GENERAL PROVISIONS
		
	4.1
	Successors in Interest.  This Settlement Agreement, including the releases herein contained, shall be binding upon and inure to the benefit of the Parties and each of their successors-in-interest, including, without limitation, heirs, permitted assigns, and beneficiaries.

		
	4.2
	No Assignment or Transfer.

		
	4.2.10
	Gaiam represents and warrants that no other person or entity has, or has had, any interest in any of the Gaiam Released Claims; that it has the sole rights and exclusive authority to execute this Settlement Agreement on behalf of the Gaiam Releasing Parties; and that it has not sold, assigned, transferred, conveyed, or otherwise disposed of any of the Gaiam Released Claims.

		
	4.2.11
	Cinedigm represents and warrants that no other person or entity has, or has had, any interest in any of the Cinedigm Released Claims; that it has the sole rights and exclusive authority to execute this 

NY01\SherC\4260976.2

Settlement Agreement on behalf of the Cinedigm Releasing Parties; and that it has not sold, assigned, transferred, conveyed, or otherwise disposed of any of the Cinedigm Released Claims.
		
	4.2.12
	Each Party agrees to indemnify, defend, and hold harmless any person or entity released by such Party in this Settlement Agreement, against all claims, demands, controversies, liabilities, damages, debts, obligations, costs, expenses, losses, compensation, reasonable outside attorneys’ fees, and causes of action of any kind or nature, in law or in equity, incurred by such person or entity as a result of any other person or entity asserting any such claim, complaint, or right, or any such assignment, transfer, conveyance, or other disposition of any of the Released Claims by such Party.

		
	4.3
	No Admission of Liability.  This Settlement Agreement does not constitute an admission by any of the Releasees of any liability or wrongdoing whatsoever.

		
	4.4
	Mutually Drafted Settlement Agreement.  Each of the Parties has been fully and competently represented by counsel of their own choosing in the negotiations and drafting of this Settlement Agreement.  Accordingly, the Parties agree that any rule of construction of contracts resolving any ambiguities against the drafting Party shall be inapplicable to this Settlement Agreement.  Each term of this Settlement Agreement is contractual, not a mere recital, and is the result of negotiations between the Parties.

		
	4.5
	Final Written Expression.  This Settlement Agreement is integrated and once accepted according to its terms is intended by the Parties as a final and complete expression of their agreement with respect to the subject matter addressed herein.  This Settlement Agreement supersedes any and all prior or contemporaneous agreements, negotiations, or understandings, written or oral, between the Parties regarding the subject matter addressed herein.  The Parties hereto, and each of them, acknowledge that no other Party nor any agent or attorney for any other Party has made any promise, representation, or warranty whatsoever, express or implied, written or oral, not contained herein, concerning the subject matter hereof to induce the execution of this Settlement Agreement, and each of the Parties acknowledges that it has not executed this Settlement Agreement in reliance on any promise, representation, or warranty not contained herein.

		
	4.6
	Amendment.  This Settlement Agreement may not be amended, modified, or terminated, in whole or in part, except by an instrument in writing duly executed by the Parties or their authorized representatives.

		
	4.7
	Confidentiality.  Except as set forth below, the Parties agree to keep confidential and not disclose, describe, or discuss, either directly or indirectly, in any manner whatsoever, any information regarding the terms or substance of this Settlement Agreement to or with any person or entity.  The Parties may disclose only that the dispute was satisfactorily resolved.

		
	4.7.1
	Notwithstanding the provisions of paragraph 4.7 above, the Parties may disclose in confidence to their Board of Directors, employees, lawyers, accountants, insurers, financial advisors, creditors, and consultants such information concerning the terms of this Settlement Agreement as is necessary for such individuals to perform their professional functions, such information as may be required for compliance with statute or regulation or requested by governmental or regulatory authorities, such information as may be necessary to defend legal action brought by third parties, and such information as may be necessary to enforce this Settlement Agreement.

		
	4.7.2
	If disclosure of the terms of this Settlement Agreement is sought by court order, subpoena, or via some other discovery request, the Party from whom such disclosure is sought may make such disclosure, provided that said Party first notifies the other Party in writing as soon as practicable, but in no event later than five (5) business days from the date of service or the receipt of the court 

NY01\SherC\4260976.2

order, subpoena, or other discovery request, and, to the extent possible, no later than three (3) business days prior to the requested production.  The Party from whom disclosure is sought shall not oppose any effort by the other Party for a protective order or other relief from the court order or subpoena.
		
	4.8
	Non-Disparagement.  The Parties shall not disparage the Releasees regarding the subject matter of the Released Claims or the Reconciliation Arbitration.

		
	4.9
	Waiver.  Any waiver of any term of this Settlement Agreement must be in writing and signed by the Party waiving its rights hereunder.  Conduct that is arguably or actually inconsistent with rights granted under this Settlement Agreement shall not constitute a waiver unless an intent to waive rights under this Settlement Agreement is clearly expressed in writing as required by this paragraph.  The waiver of any term or condition contained in this Settlement Agreement shall not be construed as a waiver of any other term or condition contained in this Settlement Agreement.

		
	4.10
	Warranty of Independent Advice.  Each Party warrants and represents that it has received independent legal advice from such Party’s attorney with respect to the rights and obligations arising from, and the advisability of executing, this Settlement Agreement and with respect to the waiver of Section 1542 of the California Civil Code.

		
	4.11
	Warranty of Due Authorization.  Each Party warrants and represents that such Party is fully entitled and duly authorized to enter into and deliver this Settlement Agreement.  In particular, and without limiting the generality of the foregoing, each Party warrants and represents that it is fully entitled to grant the releases and undertake the obligations set forth herein.

		
	4.12
	Warranty of Power.  Each Party warrants and represents that it is duly organized and validly existing under the laws of the state or nation of its incorporation or formation, and that it has full power and authority to enter into this Settlement Agreement and carry out the provisions hereof.

		
	4.13
	No Third Party Beneficiaries.  No person or entity shall be considered a third party beneficiary of, or otherwise entitled to any rights or remedies under this Settlement Agreement, except with respect to the releases expressly provided for herein.

		
	4.14
	Governing Law.  This Settlement Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of California, without giving effect to its choice of law provisions.

		
	4.15
	Severability.  If any provision of this Settlement Agreement is declared invalid by any tribunal, then such provision shall be deemed automatically adjusted to the minimum extent necessary to conform to the requirements for validity as declared at such time and, as so adjusted, shall be deemed a provision of this Settlement Agreement as though originally included herein.  In the event that the provision invalidated is of such a nature that it cannot be so adjusted, the provision shall be deemed deleted from this Settlement Agreement as though such provision had never been included herein.  In either case, the remaining provisions of this Settlement Agreement shall remain in full force and effect.

		
	4.16
	Gender/Plural/Connectives.  Whenever in this Settlement Agreement the context may require, the masculine gender shall be deemed to include the feminine and/or neuter, and vice versa, the singular to include the plural, and vice versa, and (to give the releases herein the broadest interpretation and scope, as is desired by the Parties hereto) the connectives “and” and “or” to mean “and/or.”

NY01\SherC\4260976.2

		
	4.17
	Attorneys’ Fees/Costs.  All Parties shall bear their own attorneys’ fees, expenses, and costs in connection with, related to, or arising from this Settlement Agreement or otherwise relating to the matters released herein.

		
	4.18
	Headings.  Headings as used in this Settlement Agreement are for convenience only and are not a part of this Settlement Agreement.  The Parties acknowledge that they have read the full substance of each paragraph and are not relying upon the headings.

		
	4.19
	Notices.  Any notice appropriate or required to be given hereunder shall be by Federal Express and email, or, in the alternative, at the option of the sender, by messenger, and shall be to the following addresses, or such other address as is subsequently noticed in writing to all Parties:

If to Gaiam:
Bert H. Deixler 
Kendall Brill & Kelly LLP 
Santa Monica Blvd., Suite 1725 
Los Angeles, CA 90067 
bdeixler@kbkfirm.com
AND
John Jackson| 
Gaiam, Inc. 
833 W. South Boulder Road 
Louisville, CO 80027 
john.jackson@gaiam.com
If to Cinedigm:
Patricia Glaser 
Glaser Weil Fink Howard Avchen & Shapiro LLP 
Constellation Blvd., 19th Floor 
Los Angeles, CA 90067 
pglaser@glaserweil.com
AND
Gary S. Loffredo 
Cinedigm Corp. 
Broadway, 9th Floor  
New York, NY 10010  
gloffredo@cinedigm.com
		
	4.20
	Execution in Counterparts. The Parties may execute this Settlement Agreement by facsimile or PDF and in counterparts, each one of which shall have the same force and effect as an original, and all of which together shall constitute one and the same instrument.

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IN WITNESS WHEREOF, the Parties have each caused this Settlement Agreement to be duly executed as of the Effective Date.
	
			
	Dated:
	September 30, 2015
	GAIAM, INC.
By: /s/ J. Johnson   
Its: EVP   

	Dated:
	September 30, 2015
	GAIAM AMERICAS, INC.
By: /s/ J. Johnson   
Its:  EVP   

	Dated:
	September 29, 2015
	CINEDIGM CORP.
By: /s/ Adam M. Mizel   
Its: COO   

	Dated:
	September 29, 2015
	CINEDIGM ENTERTAINMENT HOLDINGS, LLC
By: /s/ Adam M. Mizel   
Its:  COO   

NY01\SherC\4260976.2EX-10.1

 Exhibit 10.1 

RAPTOR PHARMACEUTICAL CORP. 

FORM OF CHANGE IN CONTROL SEVERANCE AGREEMENT 

This Change in Control Severance Agreement (the “Agreement”) is made and entered into by and between
[            ] (“Executive”) and Raptor Pharmaceutical Corp. (the “Company”), effective as of the latest date set forth below by the signatures of the
parties hereto (the “Effective Date”). 
 R E C I T A L S 

A. The Board of Directors of the Company (the “Board”) recognizes that the possibility of a Change in Control (as defined
below), including the possibility of an involuntary termination or change in Executive’s role at the Company in connection therewith may be a distraction to Executive and may cause Executive to consider alternative employment opportunities.

 B. The Board has accordingly determined that it is in the best interests of the Company and its stockholders for the Company to provide
Executive with certain severance benefits upon certain terminations of Executive’s service to the Company upon a Change in Control in order to, among other things, (i) ensure the continued dedication and objectivity of Executive,
(ii) enhance Executive’s financial security and provide incentive and encouragement to Executive to continue Executive’s employment and (iii) motivate Executive to maximize the value of the Company upon a Change in Control for
the benefit of its stockholders, in each case, notwithstanding the possibility of such an occurrence. 
 C. Unless otherwise defined herein,
capitalized terms used in this Agreement are defined in Section 8 below. 
 The parties hereto agree as follows: 

1. Term of Agreement. This Agreement shall become effective as of the Effective Date and terminate upon the date that all obligations of the parties
hereto with respect to this Agreement have been satisfied. 
 2. At-Will Employment. The Company and Executive acknowledge that Executive’s
employment is and shall continue to be “at-will,” as defined under applicable law. 
 3. Covered Termination During a Change in Control
Period. If Executive experiences a Covered Termination during a Change in Control Period, and if Executive executes and fails to revoke during any applicable revocation period a Release of Claims (as defined below) within sixty (60) days,
or such shorter period of time specified by the Company following such Covered Termination, then in addition to any accrued but unpaid salary, bonus, benefits, vacation and expense reimbursement payable in accordance with applicable law, the Company
shall provide Executive with the following: 

 (a) Severance. Executive shall be entitled to receive an amount equal to the sum of
(i) eighteen (18) months of Executive’s base salary and (ii) one hundred percent (100%) of Executive’s target annual bonus (assuming achievement of performance goals at 100% of target), at the rate equal to the higher
of (x) the rate in effect immediately prior to Executive’s Termination Date or (y) the rate in effect immediately prior to the Change in Control, payable in a cash lump sum, less applicable withholdings, as soon as administratively
practicable following the date the Release of Claims is not subject to revocation and, in any event, within sixty (60) days following the date of the Covered Termination. 

(b) Continued Healthcare. If Executive elects to receive continued healthcare coverage pursuant to the provisions of COBRA (as defined
below), the Company shall directly pay, or reimburse Executive for, the premium for Executive and Executive’s covered dependents through the earlier of (i) the eighteen (18) month anniversary of the Termination Date and (ii) the
date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s) (the “Coverage Period”). After the Company ceases to pay premiums pursuant to the
preceding sentence, Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance with the provisions of COBRA. Notwithstanding the foregoing, the Company may elect at any time during the Coverage Period
that, in lieu of paying or reimbursing the premiums, the Company instead shall provide Executive with a monthly cash payment equal to the amount the Company would have paid pursuant to this Section 3(b). Such monthly payments shall be made on
the first payroll date to occur during each such month for the remaining portion of the period that ends of the earlier of (i) twenty-seven (27) months following the Termination Date and (ii) the date Executive and Executive’s
covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s). 
 (c) Equity Awards. Each
outstanding and unvested equity award, including, without limitation, each stock option and restricted stock unit award held by Executive shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of
repurchase thereon shall immediately lapse, in each case, with respect to 100% of the unvested shares underlying Executive’s equity awards as of the Termination Date. To the extent vested after giving effect to the acceleration provided in the
preceding sentence, each stock option held by the Executive shall remain exercisable until the earlier of the original expiration date for such stock option or the eighteen (18) month anniversary of Executive’s Covered Termination. 

4. Certain Reductions. Notwithstanding anything herein to the contrary, the Company shall reduce Executive’s severance benefits under this
Agreement, in whole or in part, by any other severance benefits, pay in lieu of notice, or other similar benefits payable to Executive by the Company in connection with Executive’s termination, including but not limited to payments or benefits
pursuant to (a) any applicable legal requirement, including, without limitation, the Worker Adjustment and Retraining Notification Act, or (b) any Company agreement, arrangement, policy or practice relating to Executive’s termination
of employment with the Company. The benefits 

  
 -2- 

 
provided under this Agreement are intended to satisfy, to the greatest extent possible, any and all statutory obligations that may arise out of Executive’s termination of employment. Such
reductions shall be applied on a retroactive basis, with severance benefits previously paid being recharacterized as payments pursuant to the Company’s statutory obligation. 

5. Deemed Resignation. Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and
directorships, if any, and then held with the Company or any of its subsidiaries, and, at the Company’s request, Executive shall execute such documents as are necessary or desirable to effectuate such resignations. 

6. Other Terminations. If Executive’s service with the Company is terminated by the Company or by Executive for any or no reason other than a
Covered Termination, then Executive shall not be entitled to any benefits under this Agreement other than accrued but unpaid salary, bonus, vacation and expense reimbursement in accordance with applicable law and to elect any continued healthcare
coverage as may be required under COBRA or similar state law. For the avoidance of doubt, the terms of the Executive’s Offer Letter or Employment Agreement with the Company dated as of
                    (the “Employment Agreement”) shall continue to govern any severance or other benefits, if any, payable on a
qualifying termination outside of a change in control, or in the case of death or permanent disability. 
 7. Limitation on Payments. Notwithstanding
anything in this Agreement to the contrary, if any payment or distribution Executive would receive pursuant to this Agreement or otherwise (“Payment”) would (a) constitute a “parachute payment” within the meaning of
Section 280G of the Code, and (b) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either be (i) delivered in full, or
(ii) delivered as to such lesser extent which would result in no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the
Excise Tax, results in the receipt by Executive on an after-tax basis, of the largest payment, notwithstanding that all or some portion of the Payment may be taxable under Section 4999 of the Code. The accounting firm engaged by the Company for
general audit purposes as of the day prior to the effective date of the Change in Control or such other accounting firm chosen by the Company to perform this work prior to the effective date of the Change in Control shall perform the foregoing
calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. The accounting firm shall provide its calculations to the Company and Executive within fifteen
(15) calendar days after the date on which Executive’s right to a Payment is triggered or such earlier time as requested by the Company or Executive. Any good faith determinations of the accounting firm made hereunder shall be final,
binding and conclusive upon the Company and Executive. Any reduction in payments and/or benefits pursuant to this Section 7 will occur in the following order: (1) reduction of cash payments; (2) cancellation of accelerated vesting of
equity awards other than stock options; (3) cancellation of accelerated vesting of stock options; and (4) reduction of other benefits payable to Executive. 

  
 -3- 

 8. Definition of Terms. The following terms referred to in this Agreement shall have the following
meanings: 
 (a) Cause. “Cause” means (i) Executive’s commission of a felony or other crime involving
moral turpitude; (ii) any willful act or acts of dishonesty undertaken by Executive and intended to result in substantial gain or personal enrichment of Executive, Executive’s family or any third party at the expense of the Company;
(iii) any willful act of gross misconduct which is materially and demonstrably injurious to the Company; and/or (iv) Executive’s material breach of this Agreement or the Employment Agreement. For the purpose of this Agreement, no act,
or failure to act, by Executive shall be considered “willful” if done, or omitted to be done, by him in good faith and in the reasonable belief that his act or omission was in the best interest of the Company and/or required by applicable
law. 
 (b) Change in Control. “Change in Control” means the occurrence of any of the following events:
(i) any sale or exchange of the capital stock by the stockholders of the Company in one transaction or series of related transactions where more than fifty percent (50%) of the outstanding voting power of the Company is acquired by a
person or entity or group of related persons or entities; or (ii) any reorganization, consolidation or merger of the Company where the outstanding voting securities of the Company immediately before the transaction represent or are converted
into less than fifty percent (50%) of the outstanding voting power of the surviving entity (or its parent corporation) immediately after the transaction; or (iii) the consummation of any transaction or series of related transactions that
results in the sale of all or substantially all of the assets of the Company; or (iv) any “person” or “group” (as defined in the Securities Exchange Act of 1934, as amended (the “Exchange Act”) becoming the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly of securities representing more than fifty percent (50%) of the voting power of the Company then outstanding. 

Notwithstanding the foregoing, if a Change in Control constitutes a payment event for any amount that constitutes deferred compensation that is subject to
Section 409A of the Code, the transaction or event described in subsection (i), (ii), (iii) or (iv) with respect to such amount (or portion thereof) must also constitute a “change in control event,” as defined in Treasury
Regulation Section 1.409A-3(i)(5) to the extent required by Section 409A. 
 (c) Change in Control Period. “Change
in Control Period” means that period commencing on the consummation of a Change in Control and ending eighteen (18) months following the date thereof. 

(d) COBRA. “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. 

(e) Covered Termination. “Covered Termination” means (a) an Involuntary Termination Without Cause or (b) a
voluntary termination for Good Reason, provided that the termination constitutes a Separation from Service. 

  
 -4- 

 (f) Good Reason. “Good Reason” means Executive’s resignation as a
result of a Good Reason Condition. In order to resign for Good Reason, Executive must provide written notice to the Company of the existence of the Good Reason Condition within thirty (30) days of the initial existence of such Good Reason
Condition. Upon receipt of such notice of the Good Reason Condition, the Company will be provided with a period of thirty (30) days during which it may remedy the Good Reason Condition and not be required to provide for the payments and
benefits described in Section 3 as a result of such proposed resignation due to the Good Reason Condition specified in the notice. If the Good Reason Condition is not remedied within the period specified in the preceding sentence, Executive may
resign for Good Reason based on the Good Reason Condition specified in the notice, provided that such resignation must occur within sixty (60) days after the initial existence of such Good Reason Condition. 

(g) Good Reason Condition. “Good Reason Condition” means that any of the following are undertaken without
Executive’s express written consent: (i) a material reduction in Executive’s base salary; (ii) a material diminution in Executive’s responsibilities; (iii) the Company’s material breach of any material term of this
Agreement; or (iv) a material change in the geographic location at which Executive must perform Executive’s service to the Company, it being understood that such a material change would include a requirement that Executive relocate to an
office that would increase Executive’s one-way commute distance by more than thirty-five (35) miles or one-way average commute time by more than 45 minutes, in each case, based on Executive’s primary residence at the time such
relocation is announced. 
 (h) Involuntary Termination Without Cause. “Involuntary Termination Without Cause” means
Executive’s dismissal or discharge by the Company other than for Cause. The termination of Executive’s employment as a result of Executive’s death or inability to perform the essential functions of his job due to disability will not
be deemed to be an Involuntary Termination Without Cause. 
 (i) Release of Claims. “Release of Claims” means an
effective general release of all claims against the Company and its affiliates substantially in the form attached hereto as Exhibit A executed and not revoked by Executive in accordance with its terms and in no event later than sixty
(60) days following the Covered Termination. 
 (j) Separation from Service. “Separation from Service” means
Executive’s termination of employment or service constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). 

(k) Termination Date. “Termination Date” means the date Executive experiences a Covered Termination. 

9. Successors. 
 (a) Company’s
Successors. Except as set forth above, any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) 

  
 -5- 

 
to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in
the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s
business and/or assets which executes and delivers the assumption agreement described in this Section 9(a) or which becomes bound by the terms of this Agreement by operation of law. 

(b) Executive’s Successors. The terms of this Agreement and all rights of Executive hereunder shall inure to the benefit of, and
be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

10. Notices. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when
personally delivered or one day following mailing via Federal Express or similar overnight courier service. In the case of Executive, mailed notices shall be addressed to Executive at Executive’s home address that the Company has on file for
Executive. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Chief Executive Officer. 

11. Confidentiality; Non-Disparagement. 

(a) Confidentiality. Executive hereby expressly confirms Executive’s continuing obligations to the Company pursuant to
Executive’s Employee Invention Assignment and Confidentiality Agreement entered into between Executive and the Company (the “Confidential Information Agreement”). 

(b) Non-Disparagement. Executive agrees that Executive shall not disparage, criticize or defame the Company, its affiliates and their
respective affiliates, directors, officers, agents, partners, stockholders or employees. The Company agrees that it shall not, and it shall instruct its officers and members of its Board to not, disparage, criticize or defame Executive. Nothing in
this Section 11(b) shall have application to any evidence or testimony required by any court, arbitrator or government agency. 
 12. Dispute
Resolution. To ensure the timely and economical resolution of disputes that arise in connection with this Agreement, Executive and the Company agree that any and all disputes, claims, or causes of action arising from or relating to the
enforcement, breach, performance or interpretation of this Agreement, Executive’s employment, or the termination of Executive’s employment, shall be resolved to the fullest extent permitted by law by final, binding and confidential
arbitration in San Francisco County, California through Judicial Arbitration & Mediation Services/Endispute (“JAMS”) in conformity with the then-existing JAMS employment arbitration rules and California law. By agreeing
to this arbitration procedure, both Executive and the Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. The arbitrator shall: (a) have the authority to compel adequate
discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written 

  
 -6- 

 
arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award. The Company shall pay all JAMS’s arbitration fees in excess of the
amount of court fees that would be required if the dispute were decided in a court of law. Nothing in this Agreement is intended to prevent either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending
the conclusion of any such arbitration. Notwithstanding the foregoing, Executive and the Company each have the right to resolve any issue or dispute over intellectual property rights by Court action instead of arbitration. 

13. Miscellaneous Provisions. 
 (a)
Section 409A. 
 (i) Separation from Service. Notwithstanding any provision to the contrary in this Agreement, no amount
deemed to be deferred compensation subject to Section 409A of the Code shall be payable pursuant to Section 3 above unless Executive’s termination of employment constitutes a Separation From Service and, except as provided under
Section 13(a)(ii) of this Agreement, any such amount shall not be paid, or in the case of installments, commence payment, until the sixtieth (60th) day following Executive’s
Separation from Service. Any installment payments that would have been made to Executive during the sixty (60) day period immediately following Executive’s Separation from Service but for the preceding sentence shall be paid to Executive
on the sixtieth (60th) day following Executive’s Separation from Service and the remaining payments shall be made as provided in this Agreement. 

(ii) Specified Employee. Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed at the time of his
Separation From Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is
required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (A) the expiration of the six (6)-month
period measured from the date of Executive’s Separation from Service or (B) the date of Executive’s death. Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments
deferred pursuant to this Section 13(a)(ii) shall be paid in a lump sum to Executive, and any remaining payments due under this Agreement shall be paid as otherwise provided herein. 

(iii) Expense Reimbursements. To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of
Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31st of the year following the year in
which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to
liquidation or exchange for another benefit. 

  
 -7- 

 (iv) Installments. For purposes of Section 409A of the Code (including, without
limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly,
each such installment payment shall at all times be considered a separate and distinct payment. 
 (b) Waiver. No provision of this
Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any
breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c) Whole Agreement. This Agreement will constitute the entire agreement of the parties with regard to the subject matter hereof, and
will contain all the covenants, promises, representations, warranties and agreements between the parties with respect to the subject matter hereof. All understandings and agreements preceding the date of execution of this Agreement and relating to
the subject matter hereof (including in the Employment Agreement) are as of the Effective Date superseded by this Agreement and null and void and of no further force and effect. For the avoidance of doubt, the severance and other benefits provided
by this Agreement shall be in lieu of any severance or other benefits payable on a termination related or due to a change in control as provided by the terms of the Employment Agreement; however, the terms of the Employment Agreement shall continue
to govern any severance or other benefits payable on a qualifying termination outside of a change in control, or in the case of death or permanent disability. 

(d) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the
State of California. 
 (e) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall
not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
 (f)
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 

(Signature page follows) 

  
 -8- 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by its duly authorized officer, as of the day and year set forth below. 
  

			
	RAPTOR PHARMACEUTICAL CORP.
		
	 By:
	 	  

	 Title:
	 	  

	 Date:
	 	  

	
	 EXECUTIVE

	  

	[                    ]
		
	 Date:
	 	  

 Signature Page to Form Change in Control Severance Agreement 

 EXHIBIT A 

GENERAL RELEASE OF CLAIMS 

(INDIVIDUAL TERMINATION – AGE 40 OR OLDER) 

This General Release of Claims (“Release”) is entered into as of
[                    ] between
[                    ] (“Executive”) and Raptor Pharmaceutical Corp., a Delaware corporation (the “Company”)
(collectively referred to herein as the “Parties”), effective eight (8) days after Executive’s signature hereto (the “Effective Date”), unless Executive revokes his acceptance of this Release as provided
in Paragraph 1(c), below. 
 1. Executive’s Release of the Company. 

(a) Executive, on his own behalf and on behalf of his family members, heirs, executors, administrators, agents, and assigns,
hereby and forever releases the Company and its current and former officers, directors, employees, agents, investors, attorneys, affiliates, divisions, and subsidiaries, and predecessor and successor corporations and assigns (the
“Releasees”) from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently
known or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the date Executive signs this Release, including,
without limitation: 
 (i) any and all claims relating to or arising from Executive’s employment relationship with
Company and the termination of that relationship; 
 (ii) any and all claims for wrongful discharge of employment;
termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or
intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander;
negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits; 

(iii) any and all claims for violation of any federal, state, or municipal statute, including, but not limited to,
Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act, except as prohibited by law; the Fair Credit
Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the 

 
Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act, except as prohibited by law; the Sarbanes-Oxley Act of 2002, except as prohibited by law; the Uniformed
Services Employment and Reemployment Rights Act; the California Family Rights Act; the California Labor Code, except as prohibited by law; the California Workers’ Compensation Act, except as prohibited by law; and the California Fair Employment
and Housing Act; 
 (iv) any and all claims for violation of the federal or any state constitution; 

(v) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 

(vi) any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax
treatment of any of the proceeds received by Executive as a result of the Change in Control Severance Agreement entered into between the Parties as of [            ], 2015 (the “CIC
Agreement”); and 
 (vii) any and all claims for attorneys’ fees and costs. 

(b) Executive agrees that the release set forth in this section shall be and remain in effect in all respects as a complete
general release as to the matters released. This release does not extend to any obligations incurred under the CIC Agreement. This release does not release claims or rights that cannot be released as a matter of law, including, but not limited to,
(i) claims for indemnity under California Labor Code Section 2802; and (ii) Executive’s right to communicate with, cooperate with, or provide information to, any federal, state or local government regulator, including but not
limited to the Equal Employment Opportunity Commission, California Department of Fair Employment, Securities and Exchange Commission, Commodity Futures Trading Commission, or the Department of Justice; provided, however, that to the extent permitted
by law Executive does release his right to secure damages or other monetary compensation from the Company for any alleged discrimination, harassment, retaliation or interference with his alleged rights under applicable law and regulation. 

(c) Acknowledgment of Waiver of Claims under ADEA. Executive acknowledges that he is waiving and releasing any rights he
may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Executive acknowledges that this waiver and release does not apply to any rights or claims that may
arise under the ADEA after the Effective Date of this Release. Executive acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Executive was already entitled. Executive further
acknowledges that he has been advised by this writing that: (a) he should consult with an attorney prior to executing this Release; (b) he has [twenty-one (21)] days within which to consider this Release; (c) he has seven
(7) days following his execution of this Release to 

 
revoke this Release; (d) this Release shall not be effective until after the revocation period has expired; and (e) nothing in this Release prevents or precludes Executive from
challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Executive
signs this Release and returns it to the Vice President Global Human Resources in less than the [21]-day period identified above, Executive hereby acknowledges that he has freely and voluntarily chosen to waive the time period allotted for
considering this Release. To revoke his acceptance of this Release, Executive must contact the Vice President Global Human Resources by facsimile at 415-382-8002 no later than 5 p.m. on the 7th
day following Executive’s signature of this Release. 
 (d) California Civil Code Section 1542. Executive
acknowledges that he has been advised to consult with legal counsel and is familiar with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits release of unknown claims, which provides as follows: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 Executive, being aware of
said code section, agrees to expressly waive any rights he may have thereunder, as well as under any other statute or common law principles of similar effect. 

2. Executive Representations. Executive represents and warrants that: 

(a) Executive has returned to the Company all Company property in Executive’s possession; 

(b) Executive is not owed wages, commissions, bonuses or other compensation, other than wages through the Termination Date (as
defined in the CIC Agreement) and any accrued, unused vacation earned through such date, and any payments that become due under Section 3 of the CIC Agreement; 

(c) During the course of Executive’s employment Executive did not sustain any injuries for which Executive might be
entitled to compensation pursuant to any worker’s compensation law or Executive has disclosed any injuries of which he is currently, reasonably aware for which he might be entitled to compensation pursuant to any worker’s compensation law;

 (d) From the date Executive executed the CIC Agreement through the date Executive executes this Release, Executive has not
made any disparaging comments about the Company, nor will Executive do so in the future; and 

 (e) Executive has not initiated any adversarial proceedings of any kind against
the Company or against any other person or entity released herein, nor will Executive do so in the future, except as specifically allowed by this Release. 

3. Maintaining Confidential Information. Executive reaffirms his obligations under the Confidential Information Agreement (as defined
in the CIC Agreement). Executive acknowledges and agrees that the payments and benefits provided in Section 3 of the CIC Agreement shall be subject to Executive’s continued compliance with Executive’s obligations under the
Confidentiality Agreement. 
 4. Confidentiality; Non-Disparagement. Executive reaffirms his obligations pursuant to Section 11
of the CIC Agreement. 
 5. Severability. The provisions of this Release are severable. If any provision is held to be invalid or
unenforceable, it shall not affect the validity or enforceability of any other provision. 
 6. Choice of Law. This Release shall in
all respects be governed and construed in accordance with the laws of the State of California, including all matters of construction, validity and performance, without regard to conflicts of law principles. 

7. Integration Clause. This Release and the CIC Agreement contains the Parties’ entire agreement with regard to the separation of
Executive’s employment, and supersede and replace any prior agreements as to those matters, whether oral or written. This Release may not be changed or modified, in whole or in part, except by an instrument in writing signed by Executive and
the Chief Executive Officer of the Company. 
 8. Execution in Counterparts. This Release may be executed in counterparts with the
same force and effectiveness as though executed in a single document. Facsimile signatures shall have the same force and effectiveness as original signatures. 

9. Intent to be Bound. The Parties have carefully read this Release in its entirety; fully understand and agree to its terms and
provisions; and intend and agree that it is final and binding on all Parties. 
 (Signature page(s) follow) 

 IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing on
the dates shown below. 
  

							
	 DATED:
	 	 /s/
	 	 
	 	 	[Name]	 	 
			
	 DATED:
	 	 RAPTOR PHARMACEUTICAL CORP.
	 	
				
		 	         By:	  	  
	 	
				
		 	    Name:	  		 	
				
		 	    Title:	  		 	

 Signature Page to Release

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