Document:

Adamis Pharmaceuticals, Corporation 10-Q 

Exhibit [10.1]

 

Execution Version

 

[*] Designates Text Omitted and Filed
Separately

with the Securities and Exchange Commission.

Confidential Treatment Requested

Under 17 C.F.R. Sections 200.80(b)(4)
and Rule 24b-2

 

DISTRIBUTION AND COMMERCIALIZATION
AGREEMENT

 

This Distribution and Commercialization
Agreement (the “Agreement”) is made effective as of the Effective Date by and between Adamis Pharmaceuticals
Corporation, a corporation organized under the laws of Delaware (the “Company”), with an office located at 11682
El Camino Real, Suite #300, San Diego, CA 92130 and Sandoz Inc., a corporation organized under the laws of Colorado, with
an office at 100 College Road West, Princeton, New Jersey 08540 (“Sandoz”). Sandoz and the Company may hereafter
be referred to collectively as the “Parties” and individually as a “Party”.

 

WHEREAS, the
Company, pursuant to the terms of this Agreement, would like to manufacture and supply Product (as defined below) to Sandoz for
Sandoz to distribute Product in the Territory; and

 

WHEREAS, Sandoz,
pursuant to the terms of this Agreement, would like to purchase Product from the Company and distribute Product in the Territory.

 

NOW, THEREFORE,
in consideration of the mutual promises, covenants and agreements hereinafter set forth, the parties hereto agree as follows:

 

1.            DEFINITIONS

 

1.1.       “Act”
means the Federal Food, Drug and Cosmetic Act of 1938, including any amendments thereto and all regulations promulgated thereunder
or under any similar act or set of laws in the Territory.

 

1.2.       “Additional
Costs” means, for any applicable Calendar Quarter, the total costs for (a) [*]; (b) [*]; and (c) [*];
in each case, only to the extent not overlapping with any amount deducted in the calculation of Net Sales.

 

1.3.       “Affiliate”
means, with respect to any Person, any Person which, directly or indirectly, controls, is controlled by, or is under common control
with, the specified Person. For the purposes of this definition, the term “control,” as applied to any Person, means
the possession, directly or indirectly, of the power to direct or cause the direction of the management of that Person, whether
through ownership of more than fifty percent (50%) voting securities or otherwise.

 

1.4.       “API”
means the compound epinephrine, as further described in the Specifications.

 

1.5.       “Applicable
Laws” means all laws, ordinances, rules and regulations applicable to the Parties’ activities under this Agreement,
including, without limitation, the Manufacture, Development, or Processing of API or Product, and the obligations of each Party
as the context requires, including, without limitation: (a) all applicable federal, state and local laws and regulations of the
Territory; (b) the Act; and (c) cGMPs.

 

    
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1.6.       “Batch”
means a specific quantity of the Product that is intended to have uniform character and quality within specified limits, and is
produced according to a single Manufacturing order during the same cycle of Manufacture.

 

1.7.       “Batch
Record” means Batch production and control records as set forth in 21 C.F.R. § 211.188, as may be amended from
time-to-time.

 

1.8.       “Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks located in New York, New York
are authorized or required to be closed, as the case may be.

 

1.9.       “Calendar
Quarter” means any of the three-month periods beginning January 1, April 1, July 1 or October 1 of any calendar
year.

 

1.10.     “Certificate
of Analysis” means a document which is signed and dated by a duly authorized representative of the Company certifying
that the Product Conforms to the Specifications and was prepared in accordance with Section 3.10.1.

 

1.11.     “cGMP”
or “Good Manufacturing Practices” means current good manufacturing practices as set forth in 21 C.F.R. Parts
210 and 211, as established by the FDA or any similar set of laws, regulations, rules, or practices in the Territory or otherwise
applicable to Development, Manufacture, Processing or supply of Product pursuant to this Agreement, as may be amended from time-to-time.

 

1.12.     “Claim”
means any claim, action, suit, demand or other legal assertion or proceeding brought by a Third Party against any of the Sandoz
Indemnified Parties and/or the Company Indemnified Parties, as the case may be, related to any Liability.

 

1.13.     “Commercialize”
or “Commercialization” means the activities for marketing, pricing, promotion, distribution, and/or selling
of the Product.

 

1.14.     “Commercially
Reasonable Efforts” means, with respect to the efforts to be expended by a Party with respect to any objective under
this Agreement, reasonable, diligent, good-faith efforts to accomplish such objective as such Party would normally use to accomplish
a similar objective under similar circumstances exercising reasonable business judgment, it being understood and agreed that, with
respect to the Manufacture, Processing and Commercialization of the Product, such efforts shall be substantially equivalent to
those efforts and resources commonly used by such Party for a product owned by it or to which it has rights, which product is at
a similar stage in its product life and is of similar market potential as the Product, taking into account [*]. It is anticipated
that the level of effort may change over time, reflecting changes in the status of the Product. “Commercially Reasonable”
shall have the correlative meaning.

 

1.15.       “Company
Indemnified Parties” means the Company, the Company’s Affiliates, any of their successors or assigns, and any of
their respective then-current or then-former directors, officers, employees, contractors or agents.

 

    
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1.16.       “Components”
means, collectively, all packaging components including the syringes for pre-fill, raw materials, excipients, and ingredients (including
labels, product inserts and other Labeling for the Product), necessary to Manufacture the Product in accordance with the NDA, the
Drug Master File, and the Specifications for the Product.

 

1.17.       “Confidential
Information” means, with respect to a Party, all Know-How, scientific information, clinical data, efficacy and safety
data, formulas, methods and processes, specifications, pricing information (including discounts, rebates and other price adjustments),
and other terms and conditions of sales, customer information, business plans, and all other intellectual property), which is disclosed
or made available to the other Party regardless of whether such information is marked, identified as or otherwise acknowledged
to be confidential at the time of disclosure to the other Party.

 

1.18.       “Conforming”
or “Conform” means that the Product conforms, in all respects, (a) to the applicable Specifications; (b)
was Manufactured in accordance with cGMP and Applicable Law; and (c) is not adulterated or misbranded within the meaning of the
Act or within the meaning of any applicable state or municipal law in which the definitions of adulteration and misbranding are
substantially the same as those contained in the Act.

 

1.19.       “Control”
or “Controlled” means, with respect to any Know-How, materials, Patents or other intellectual property rights,
the legal authority or right (whether by ownership, license or otherwise but without taking into account any rights granted by
one Party to the other Party pursuant to this Agreement) of a Party to grant access, a license or a sublicense of or under such
Know-How, materials, Patents or other intellectual property rights to another Party, or to otherwise disclose proprietary or trade
secret information to such other Party, without breaching the terms of any agreement with a Third Party, or misappropriating the
proprietary or trade secret information of a Third Party.

 

1.20.       “Develop”
or “Development” means any activities related to the development of the Product, including but not limited to,
all formulation, process and method development, manufacturing, testing and release of all clinical/registration and scale-up,
Product validation, and packaging related to the Product for use in the Territory, on-going Product stability testing in accordance
with the Specifications and Applicable Laws, maintaining documentation of any stability testing conducted on the Product in accordance
with the Specifications and Applicable Laws, and any post-Launch stability testing.

 

1.21.       “Domain
Names” means any internet electronic addresses, uniform resource locators and alphanumeric designations associated therewith,
registered with or assigned by any domain name registrar, domain name registry or other domain name registration authority as part
of an electronic address on the internet, rights in social media accounts and social media pages, and all applications for any
of the foregoing.

 

1.22.       “Drug
Master File” or “DMF” means, with respect to the Product API, the drug master file or any supplement
thereto, filed by the Company or its Affiliates or a Third Party with the FDA or other Regulatory Authority pursuant to the Act
or other Applicable Law.

 

    
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1.23.       “Effective
Date” means the date this Agreement is signed by the last Party (as indicated by the date associated with such Party’s
signature on the signature page to this Agreement).

 

1.24.       “Executive
Officer” means (a) the President of Sandoz or another officer of Sandoz designated by Sandoz, or an Affiliate of Sandoz
(the “Sandoz Executive Officer”), and (b) the President of the Company or another officer of the Company designated
by the Company (the “Company Executive Officer”).

 

1.25.       “Force
Majeure Event” means an event impacting a Party due to causes beyond such Party’s reasonable control, including
without limitation, any actions of governmental authorities or agencies, war, hostilities between nations, civil commotions, riots,
national industry strikes, lockouts, sabotage, fire, floods and acts of nature such as typhoons, hurricanes, earthquakes, or tsunamis,
or by any other event or circumstance of like or different character to the foregoing beyond the reasonable control of such Party.

 

1.26.       “FDA”
means the United States Food and Drug Administration, or any successor agency thereto.

 

1.27.       “IFRS”
means International Financial Reporting Standards, as generally and consistently applied by Sandoz.

 

1.28.       “[*]”
means [*].

 

1.29.       “Know-How”
means any information or material that is confidential and proprietary, including, without limitation, ideas, concepts, discoveries,
inventions, developments, improvements, know-how, trade secrets, designs, devices, equipment, process conditions, algorithms, notation
systems, works of authorship, computer programs, technologies, formulas, techniques, methods, procedures, assay systems, applications,
data, documentation, reports, chemical compounds, products and formulations, whether patentable or otherwise. Know-How shall also
include non-Confidential Information and material to the extent such information and material first lost its confidentiality by
virtue of its disclosure in an issued patent or published patent application, a filing with a Regulatory Authority or as part of
a legal proceeding.

 

1.30.       “Label”
means any package, packaging material, or label designed for use with the Product, pursuant to the terms of this Agreement, in
accordance with Applicable Laws including the package insert for such Product, that is approved by the FDA.

 

1.31.       “Labeling”
means applying a Label or a package insert to the Product, pursuant to the terms of this Agreement, in accordance with Applicable
Laws.

 

1.32.       “Latent
Defect” means a defect that causes Product to fail to Conform, which defect is not discoverable upon reasonable physical
inspection and testing performed pursuant to Section 3.10 but is discovered at a later time.

 

1.33.       “Launch”
means the first commercial sale of Product in a given format and Market in the Territory by Sandoz or its Affiliates to a Third
Party, but excluding sales for test marketing, clinical-trial purposes or compassionate use.

 

    
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1.34.       “Liabilities”
or “Liability” means all losses, costs, damages, judgments, settlements, interest, fees or expenses including,
without limitation, all reasonable attorneys’ fees, experts’ or consultants’ fees, expenses and costs, related
to or arising from this Agreement or any Product developed, made, sold, marketed or otherwise distributed by the Parties.

 

1.35.       “Licensed
IP” means the Licensed Know-How and the Licensed Patents.

 

1.36.       “Licensed
Know-How” means Know-How Controlled by the Company that are necessary or useful for the Manufacture and Commercialization
of the Product in the Territory.

 

1.37.       “Licensed
Patents” means any patents and patent applications Controlled by the Company now or in the future that are necessary
or useful for Commercialization and Manufacture of the Product in the Territory. An initial list of Licensed Patents is set forth
on Schedule A. Schedule A will be updated by the Company during the Term, as specified in Section 2.3.2 below.

 

1.38.       “Licensed
Trademarks” means the trademarks and domains listed on Schedule A and any Domain Names Controlled by the Company
during the Term related to such trademark.

 

1.39.       “Manufacture”
or “Manufacturing” means the commercial synthesis, manufacture, storage, handling, production, Processing, packaging,
and Labeling of Product pursuant to this Agreement.

 

1.40.       “Manufacturing
Facility” means the manufacturing facilities of the Product Manufacturer, or such other facility under its control that
is approved by the FDA or other Regulatory Authority for manufacturing the Product.

 

1.41.       “NDA”
means new drug application 207534 filed by the Company with the FDA, as may be amended or supplemented.

 

1.42.       “Net
Profit” means the amount (which shall not be less than zero (0)) calculated for a given Calendar Quarter equal to Net
Sales less (a) Supply Price that Sandoz paid for the Product sold in such Calendar Quarter, and (b) Additional Costs for the Product
sold in such Calendar Quarter.

 

1.43.       “Net
Profit Share” means an amount equal to the percentage of Net Profits allocated to each Party as set forth on Schedule
B.

 

1.44.       “Net
Sales” means the net sales recorded by Sandoz or any of its Affiliates for sales of Product in the Territory to Third
Parties as determined in accordance with IFRS as consistently applied. The deductions booked on an accrual basis by Sandoz and
its Affiliates under its IFRS to calculate the recorded net sales from gross sales consist of the following, applied consistently:

 

(i)           
normal trade and cash discounts;

 

(ii)          
amounts repaid or credited by reasons of defects, rejections, recalls or returns;

 

(iii)         
price protection and shelf stock adjustments, slotting fees and coupons;

 

    
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(iv)         
rebates and chargebacks to customers and third parties (including, without limitation, Medicare, Medicaid, Managed Healthcare
and similar types of rebates);

 

(v)          
any amounts recorded in gross revenue associated with goods provided to customers for free;

 

(vi)         
amounts provided or credited to customers through coupons and other discount programs;

 

(vii)        
delayed ship order credits, discounts or payments related to the impact of price increases between purchase and shipping
dates or retroactive price reductions;

 

(viii)        fee for service payments to customers for any non-separable services (including compensation for maintaining agreed inventory
levels and providing information); and

 

(ix)          other reductions or specifically identifiable amounts deducted for reasons similar to those listed above in accordance with
IFRS.

 

There shall be no double-counting in determining
the foregoing deductions. With respect to the calculation of Net Sales: (a) Net Sales only include the value charged or invoiced
on the first arm’s length sale to a Third Party and sales between or among Sandoz and its Affiliates shall be disregarded
for purposes of calculating Net Sales; and (b) if a Product is delivered to the Third Party before being invoiced (or is not invoiced),
Net Sales will be calculated at the time all the revenue recognition criteria under IFRS are met. In the case of any sale or other
disposal for value, [*] of any Product, or part thereof, other than [*] Net Sales shall be calculated [*].

 

1.45.       “Non-U.S.
Territory” means the entire world, except the Territory.

 

1.46.       “Person”
means any natural person, corporation, firm, business trust, joint venture, association, organization, company, partnership or
other business entity, or any government, or any agency or political subdivisions thereof.

 

1.47.       “Process”
or “Processing” means the compounding, filling, producing and/or packaging of the API and raw materials to produce
a Product in accordance with the applicable Specifications and the terms and conditions set forth in this Agreement.

 

1.48.       “Product”
means the applicable definition set forth on Schedule C attached hereto.

 

1.49.       “Product
Liability Claim” means any product liability claims or action asserted or filed by a Third Party, seeking damages or
equitable relief of any kind, relating to personal injury, wrongful death, medical expenses, an alleged need for medical monitoring,
consumer fraud or other alleged economic losses, allegedly caused by the Product, and including claims by or on behalf of users
of the Product (including spouses, family members and personal representatives of such users) relating to the use, sale, distribution
or purchase of the Product sold by or on behalf of Sandoz in the Territory.

 

    
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1.50.       “Product
Manufacturer” means the Third Party manufacturers of the Product set forth in Schedule F attached hereto, or as
otherwise agreed in writing by the Parties.

 

1.51.       “Quality
Agreement” means the Quality Agreement that will govern the production of Batches of the Product and that will be executed
by and between Sandoz and either the Company or the Product Manufacturer in connection with this Agreement.

 

1.52.       “Regulatory
Approval” means the technical, medical and scientific licenses, registrations, authorizations and approvals required
for the manufacture, use, storage, import, transport, marketing, promotion, selling, and placing on the market of the Product (including
post-approval changes, pricing and Third Party reimbursement approvals, and Labeling approvals) by any Regulatory Authority in
the Territory. This includes any authorization necessary for the Manufacture, distribution, marketing, promotion, offer for sale,
use, import, export or sale of the Product as the context may require within the Territory.

 

1.53.       “Regulatory
Authority” means any applicable local, national or supranational government agency involved in assessing the Product
or granting approvals for the marketing and sale of Product in the Territory.

 

1.54.       “Regulatory
Filing” means any filing made with a Regulatory Authority to obtain a Regulatory Approval.

 

1.55.       “[*]”
means [*].

 

1.56.       “Sandoz
Indemnified Parties” means Sandoz, its Affiliates, any of their successors or assigns, and any of their respective then-current
or then-former directors, officers, employees, contractors or agents.

 

1.57.       “Specifications”
means: (a) with respect to the Product having 0.3mg/0.3ml strength, [*]; and (b) with respect to the Product having 0.15mg/0.3ml
strength, [*].

 

1.58.       “Supply
Price” means, with respect to a Product, the applicable prices set forth on and determined in accordance with Schedule
D attached hereto.

 

1.59.       “Territory”
means the fifty states of the United States of America, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American
Samoa, the U.S. Virgin Islands and all territories and possessions of the United States of America, United States military bases
and any other territories the Parties mutually agree in writing to add to this Agreement.

 

1.60.       “Third
Party” means any Person other than a Party or any of its Affiliates.

 

1.61.       Other
Defined Terms. Each of the following definitions is set forth in the Section of this Agreement indicated below:

 

	Definition	Section
	Agreement	Introductory Paragraph
	Audited Party	6.5.2
	Auditing Party	6.5.2

 

    
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	Definition	Section
	Commercial Milestone Payment	6.1
	Company	Introductory Paragraph
	Company Executive Officer	1.24
	Dispute	12.2
	Exercise Period	2.11.1(b)
	Firm Commitment	3.5
	Firm Order	3.3.1
	Indemnitee	8.3
	Indemnitor	8.3
	Initial Term	11.1
	JPT	4.2.1
	Material Contracts	7.5.7
	Milestone Payment	6.1
	Negative Amount	6.2.2
	Negotiation Period	2.11.1(b)
	Non-US Transaction	2.11.1
	Non-US Transaction Notice	2.11.1(a)
	OPDP	4.5.2
	Other Product	2.11.2
	Party or Parties	Introductory Paragraph
	Pharmacovigilance Agreement	5.4
	Promotional Materials	4.5.1
	Renewal Term	11.1
	ROFN Right(s)	2.11.1
	Rolling Forecast	3.5
	Sales Taxes	6.4
	Sandoz	Introductory Paragraph
	Sandoz Executive Officer	1.24
	Term	11.1

 

2.            EXCLUSIVE
DISTRIBUTORSHIP; EXCLUSIVITY

 

2.1.       Appointment
of Sandoz as Exclusive Distributor in the Territory. Subject to the terms and conditions of this Agreement, (a) the Company
hereby appoints Sandoz, and Sandoz hereby accepts, during the Term, to serve as the exclusive distributor (even as to the Company)
of the Product in the Territory, and (b) the Company grants to Sandoz the exclusive right (even as to the Company) to market, sell,
offer for sale, and otherwise Commercialize the Product in the Territory under the Company’s NDA during the Term. Sandoz
shall have the exclusive right to invoice and book all Product sales in the Territory during the Term. Sandoz shall not have the
right to grant any rights as subdistributor to any Third Party except to the extent Sandoz’s agreements with group purchasing
organizations, wholesalers or similar entities that apply to Commercialization of the Product in the Territory contemplate such
entities acting as subdistributors.

 

    
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2.2.          Supply
of Product for Distributorship. As provided in Article 3, the Company shall supply (or have supplied) to Sandoz, and Sandoz
shall purchase from the Company, its requirements of the Product for sale by Sandoz and its Affiliates in the Territory pursuant
to Section 2.1.

 

2.3.          Licensed
IP.

 

2.3.1.       Subject
to the terms and conditions of this Agreement, the Company hereby grants to Sandoz an exclusive (even as to the Company), non-transferable
and non-sublicenseable (except to an Affiliate of Sandoz) license under the Licensed IP for Sandoz to market, sell, offer for sale,
and otherwise Commercialize the Product in the Territory under this Agreement.

 

2.3.2.       The
Company shall update the listing of Licensed Patents set forth in Schedule A on or before [*], so as to include information
with respect to [*]. The Company shall also provide Sandoz, on or before [*] with [*].

 

2.4.          Licensed
Trademark. The Company hereby grants to Sandoz a fully-paid, non-transferable and non-sublicenseable (except to an Affiliate
of Sandoz) license to use the Licensed Trademarks only to market, sell, offer for sale and otherwise Commercialize the Product
in the Territory under this Agreement, which shall be exclusive (even as to the Company), except the license with respect to the
Licensed Trademark Symject shall be non-exclusive. For clarity, the Company may use (or license to a Third Party or Affiliate)
the Licensed Trademark Symject: (i) in connection with any product other than the Product in and outside the Territory; and
(ii) in connection with the marketing, sale, offer for sale, and other Commercialization of the Product outside the Territory.
All uses by Sandoz and its Affiliates of the Licensed Trademarks shall be in compliance with all Applicable Laws and shall be in
accordance with the Licensed Trademark Usage Guidelines attached hereto in Schedule H. At the reasonable request of the
Company from time to time, Sandoz will provide copies of packaging, labeling, advertising, promotional and other material of Sandoz
or its Affiliates referencing the Licensed Trademark to allow the Company to confirm compliance with the foregoing.

 

2.5.          Licensed
Trademark and Licensed Patent Filing, Prosecution, Maintenance and Costs.

 

2.5.1.       The
Company shall be responsible for registration, filing and maintenance of the Licensed Trademarks, and shall bear all costs related
thereto.

 

2.5.2.       The
Company shall prepare, file and prosecute any and all patent applications and maintain any and all patents within the Licensed
Patents. The Company shall pay for all prosecution, filing and maintenance fees and all other costs for prosecution, filing and
maintenance of any Licensed Patents associated with the Product in the Territory.

 

    
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2.6.       Enforcement
of Licensed IP and Licensed Trademarks. Upon a Party learning of any infringement or threatened infringement of any of the
Licensed IP and/or Licensed Trademarks by a Third Party in the Territory, such Party shall promptly inform the other Party in writing
of any such infringement and shall supply such other Party with all evidence pertaining to such infringement in such Party’s
possession. In the event of any infringement or threatened infringement of any Licensed Patent by a Third Party in the Territory,
[*], to file an action against any such infringing Third
Party or seek abatement of the infringement by such Third Party and by counsel of its own choice, and [*]
shall have the right, at its own expense, to be represented in any such action by counsel of its own choice. [*]
shall recover [*]. In the event [*]
does not file an action or seek abatement within: (a) [*]
following the notice of alleged infringement; or (b) [*]
before the time limit, if any, set forth in the Applicable Laws, whichever comes first, then [*]
shall have the right, but not the obligation, to file an action against any such infringing Third Party or seek abatement of the
infringement by such Third Party at [*] cost and expense
and by counsel of its own choice, and [*] shall have the
right, at its own expense, to be represented in any such action by counsel of its own choice. [*]
shall use [*] to promptly notify [*]
in writing if [*] decides not to file an action or seek
abatement. [*] shall fully cooperate with [*]
in such action, including [*], and [*]
shall [*] in connection with providing such cooperation.
Neither Party shall enter into any settlement or compromise of any action or proceeding under this Section 2.6 that would: (a)
admit fault on the part of the other Party; (b) impose any financial obligation on the other Party; or (c) alter, diminish,
or be in derogation of the other Party’s rights under this Agreement, in each case, without the prior written consent of
such other Party, not to be unreasonably withheld or delayed. Except for [*], in each case, as set forth above, any recovery
or damages realized as a result of such action or proceeding with respect to Licensed IP and/or Licensed Trademarks shall be used
[*].

 

2.7.       License
of Third Parties’ Rights. In addition to the Company’s obligations pursuant to Section 8.1, in the event it is
necessary to obtain a license in the intellectual property rights of the Third Party in order for a Party to practice any Licensed
IP or Licensed Trademarks to conduct activities for which it is responsible as contemplated by this Agreement, [*].

 

2.8.       Reserved
Rights. The Company hereby expressly reserves all rights under the Licensed IP and Licensed Trademarks that are not expressly
granted to Sandoz under this Agreement, including, without limitation, rights under: (a) the Licensed IP and Licensed Trademarks
to research, develop, make, have made, import, use, sell, offer for sale, distribute, promote, market, and otherwise Commercialize
the Product outside of the Territory; and (b) the Licensed IP and Licensed Trademark Symject (but excluding the other Licensed
Trademarks) to research, develop, make, have made, import, use, sell, offer for sale, distribute, promote, market, and otherwise
commercialize any and all products other than Products (including any product other than Products that use any syringe used to
administer Products) worldwide, except in connection with any product containing epinephrine that would compete with the Product
in the Territory; and (c) the Licensed IP and Licensed Trademarks to Manufacture, have Manufactured and supply Product for Sandoz
and its Affiliates pursuant to this Agreement and to make, have made, package and have packaged the Product in the Territory for
the Company and its Affiliates and licensees for use outside the Territory. Further, the Company retains the right to reference
and use, and grant to the Company’s Affiliates and licensees (and their sublicensees) the right to reference and use, all
Regulatory Approvals for Product in the Territory, including the NDA and the documentation comprising the NDA, including all submissions,
reports and correspondence relating to the NDA, and all data and information contained or referenced therein (including all data
and information from human factors, reliability and biocompatibility studies) as may be necessary or useful (A) to perform the
Company’s obligations contemplated by this Agreement and (B) in connection with any of the activities described in Section
2.8(a), (b) and/or (c).

 

    
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2.9.          No
Implied Licenses. Except as set forth in this Agreement, neither Party shall acquire any license or other intellectual property
interest, by implication or otherwise, under or to any patents, patent applications, Know-How or other intellectual property owned
or Controlled by the other Party.

 

2.10.        Mutual
Agreements.

 

2.10.1.   Sandoz
hereby covenants and agrees that during the Term it shall not (and shall cause its Affiliates not to), either itself or through
a Third Party, market, promote, sell or actively offer for sale the Product outside of the Territory. Without limiting the generality
of the foregoing and subject to Section 2.11.1, with respect to countries outside of the Territory, Sandoz shall not: (a) engage
in any advertising activities relating to the Product directed primarily to customers located outside of the Territory (which excludes
any participation in conferences, congresses or scientific or medical meetings held throughout the world) or in the Territory for
distribution outside the Territory; or (b) actively or intentionally solicit orders from any prospective purchaser of the Product
for distribution outside of the Territory. To the extent permitted by Applicable Law, if Sandoz receives any order from a prospective
purchaser of the Product in or for a country outside of the Territory, Sandoz shall immediately refer that order to the Company
and shall not accept any such order or deliver or tender (or cause to be delivered or tendered) the Product under such order. If
Sandoz is actually aware that a customer or distributor is actively engaged itself or through a Third Party in the sale or distribution
of the Product outside of the Territory, then Sandoz shall: (i) [*]; and (ii) [*], unless otherwise agreed in writing
by the Parties.

 

2.10.2.  The
Company hereby covenants and agrees that during the Term it shall not (and shall cause its Affiliates, licensees and subcontractors
not to), either itself or through a Third Party, market, promote, sell or actively offer for sale the Product in the Territory.
Without limiting the generality of the foregoing, the Company shall not: (a) engage in any advertising activities relating to the
Product directed primarily to customers located in the Territory (which excludes any participation in conferences, congresses or
scientific or medical meetings held throughout the world) or outside of the Territory for distribution in the Territory; or (b)
actively or intentionally solicit orders from any prospective purchaser of the Product for distribution in the Territory. To the
extent permitted by Applicable Law, if the Company receives any order from a prospective purchaser of the Product in or for the
Territory, the Company shall immediately refer that order to Sandoz. If the Company is actually aware that a customer or distributor
is actively engaged itself or through a Third Party in the sale or distribution of the Product in or for the Territory, then the
Company shall: (i) [*]; and (ii) use [*]. For clarity, in the case of termination of rights granted to Sandoz under
this Agreement in [*], nothing in this Section 2.10.2 shall limit or restrict activities by or on behalf of the Company
with respect to Product [*].

 

2.11.  Right
of Negotiation for Product in Non-US Territory.

 

2.11.1.       In
the event that, after the Effective Date and during the Term, the Company proposes to grant any license or similar rights (whether
exclusive, semi-exclusive or otherwise) with respect to the development, supply, marketing, sale, distribution or Commercialization
of the Product in any Non-US Territory (“Non-US Transaction”), then Sandoz shall have a first right to negotiate
with the Company regarding such Non-US Transaction (“ROFN Right(s)”) in accordance with the terms of this Section
2.11.1.

 

    
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Execution Version

 

a)       
The Company shall provide Sandoz with a written notice (a “Non-US Transaction Notice”) of the principal
terms of a proposed Non-US Transaction prior to entering into negotiations regarding such Non-US Transaction with a Third Party.

 

b)      
Sandoz shall have a period of [*] in which to exercise the ROFN Right with respect to such Non-US Transaction by
providing written notice to the Company. If Sandoz elects to exercise the ROFN Right within [*], then [*] within
[*] after [*]. Sandoz shall be entitled to assign all or any portion of its ROFN Rights to one or more of its Affiliates
upon written notice to the Company. If Sandoz does not exercise the ROFN Right for a Non-US Transaction within [*], or if
Sandoz exercises the ROFN Right for a Non-US Transaction within [*] by the Parties do not [*] within [*],
then the Company shall have no further obligation under this Section 2.11 with regard to the territory for such Non-US Transaction
and the Company will be free to negotiate and enter into agreements with one or more Third Parties with regard to such Non-US Transaction.

 

2.11.2.       In
the event that, after the Effective Date, the Company proposes to grant any license or similar rights (whether exclusive, semi-exclusive
or otherwise) with respect to the development, supply, marketing, sale, distribution or Commercialization of a pre-filled syringe
or auto-injector containing epinephrine as one or more of the active pharmaceutical ingredients that is not covered by the Product’s
NDA in the Territory or in the Non-US Territory (“Other Product”), then Sandoz shall have a right of first negotiation
with respect to such Other Product, pursuant to the terms of Section 2.11.1 above.

 

2.11.3.       Nothing
in this Section 2.11 shall restrict or prevent the Company from negotiating or completing any transaction for the sale of all or
substantially all of the business or assets of the Company, whether by merger, sale of stock, sale of assets or otherwise; provided,
that any successor to the Company in such transaction shall remain subject to the Company’s obligations under the ROFN Right
in accordance with this Section 2.11 if the ROFN Right has not been exercised or terminated prior to consummation of such transaction.

 

3.       MANUFACTURING
AND SUPPLY SERVICES

 

3.1.       Overview.

 

3.1.1.       Subject
to the terms and conditions of this Agreement, the Company shall supply to Sandoz or its designee the Product for distribution
and sale by Sandoz or its Affiliates in the Territory, and the Company agrees not to supply such Product to any Third Party for
sale in the Territory. Sandoz agrees that in no event shall Sandoz or its Affiliates Manufacture or have Manufactured Product,
or purchase Product from any party other than the Company unless otherwise agreed in writing by the Parties. Subject to the terms
and conditions of this Agreement, the Company shall be responsible for all costs related to Manufacturing and supplying the Product
to Sandoz.

 

3.1.2.       Except
as expressly provided in Sections 3.3 and 3.5, Sandoz makes no guarantee or commitment, directly or indirectly, that Sandoz will
purchase any minimum quantity of the Product under this Agreement, and the Company acknowledges that it will not conduct its business
in reliance on any such guarantee or commitment.

 

    
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Execution Version

 

3.1.3.       The
Parties acknowledge and agree that the Company will use a Third Party manufacturer to Manufacture and supply Product to Sandoz
and its Affiliates under this Agreement. As of the Effective Date, the Third Parties listed in Schedule F are the Product
Manufacturers. If the Company desires to delegate such Manufacturing and supply obligations to a Product Manufacturer other than
a Third Party that is listed in Schedule F at any time during the Term, then the Company shall [*]. The Company shall
be responsible for performance of the Company’s obligations hereunder to the extent performed on the Company’s behalf
by such subcontractor as if the Company were itself performing such activities. The Parties acknowledge and agree that the terms
“the Company shall” or “the Company will” or the like, shall be deemed to be followed by the words “or
the Product Manufacturer, as a subcontractor of the Company, will” or “or the Product Manufacturer, as a subcontractor
of the Company, shall” or “the Company shall require that the Product Manufacturer shall” or the like, with respect
to the Company’s Manufacturing and supply obligations herein.

 

3.2.       Product
Supply Chain. The Company shall be responsible for all sourcing of all Components used in the Manufacture and Processing of
the Product (including API, excipients and primary packaging Components). The Company shall be responsible for all importation
activities relating to the Product (including API, excipients, and primary packaging Components). The Company shall cause the Components
to be manufactured under cGMP conditions, as required by Applicable Law, and cause the Drug Master File to be maintained in good
standing with the FDA during the Term.

 

3.3.       Firm
Orders.

 

3.3.1.       The
Company agrees to supply to Sandoz [*] quantities of the Product ordered by Sandoz pursuant to one or more purchase orders
issued in accordance with the terms and conditions hereof (each, as accepted by the Company in accordance with Section 3.3.2, a
“Firm Order”). Sandoz shall issue Firm Orders to the Company for the purchase of the quantities described therein,
and upon acceptance by the Company in accordance with Section 3.3.2, each Firm Order shall be considered a binding, non-cancellable
commitment upon the Company to produce and deliver such quantities of Product on the delivery dates described therein and upon
Sandoz to purchase and pay for such quantities of Product.

 

3.3.2.         The
Company shall confirm to Sandoz all Firm Orders, including quantities, pricing, commercial terms, and delivery dates, in writing
within [*] after receipt (or within a reasonable period of time after receipt for orders in excess of the Firm Commitment).
Any such confirmation shall either confirm the delivery date set out in the Firm Order or provide a reasonable alternative delivery
date. Any Firm Orders not expressly accepted or rejected by the Company shall be deemed to have been accepted. The Company may
reject any Firm Order in excess of the Firm Commitment or otherwise not given in accordance with this Agreement; provided, however,
that the Company shall [*] to supply Sandoz with quantities of Product which are in excess of the quantities specified in
the Firm Commitment, subject to [*]. For clarity, the Company will not be considered in breach or default if it does not
supply quantities of Product which are in excess of the quantities specified in the Firm Commitment after [*].

 

    
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Execution Version

 

3.3.3.       Sandoz
shall provide each Firm Order to the Company concurrently with the submission of each Rolling Forecast, and (a) with respect to
Product quantities for Launch at least [*] prior to the delivery date specified therein and (b) with respect to all subsequent
quantities of Product, at least [*] prior to the delivery date specified therein. Each Firm Order shall specify: (i) purchase
order number; (ii) the name and quantities of the Product to be purchased by and supplied to Sandoz; (iii) the delivery dates and
shipping instructions with respect thereto; (iv) Supply Price of the Product; (v) payment terms; and (vi) any other elements
necessary to ensure the timely production and delivery of the Product. Each Firm Order shall constitute a contract, and the Parties
shall comply in all respects with the obligations set forth therein including, without limitation, the obligation of the Company
to deliver the Product on the delivery date set forth in the Firm Order; provided, however, that except for the information specified
in clauses (ii) and (iii) of this Section, the supply, purchase and sale of the Products shall be governed solely by this Agreement
and any additional or contrary terms or provisions contained in any Firm Order, purchase order or similar form or invoice or acknowledgment
shall be void and have no force or effect.

 

3.4.          Packaging;
NDC. The Company shall supply Sandoz with Product packaged in Sandoz’s trade dress under Sandoz’s NDC labeler code.
The Company shall cooperate with Sandoz as required to support Sandoz obtaining its own NDC labeler code for the Product. At Sandoz’s
cost, Sandoz shall supply to the Company information and materials regarding Sandoz’s trade dress and NDC labeler code and
any standards and instructions for Product packaging that Sandoz requests in sufficient time to permit Manufacturing and supply
of Product in accordance with this Agreement. Sandoz shall be responsible at its sole cost for ensuring that all such information,
materials, standards and instructions comply with Applicable Laws. The Company shall provide Sandoz with all documentation regarding
the Product reasonably requested by Sandoz to allow Sandoz to complete a country of origin evaluation pursuant to Applicable Laws.

 

3.5.          Rolling
Forecast. Approximately [*], Sandoz shall submit to
the Company a rolling [*] forecast of Product that Sandoz
intends to order from the Company (the “Rolling Forecast”) for such period commencing on the Launch date. The
Rolling Forecast shall be updated within [*]. Except as
otherwise provided under Section 3.3.2 with respect to quantities for Launch in the first Rolling Forecast issued by Sandoz, the
[*] of each Rolling Forecast shall be binding on the Parties
(the “Firm Commitment”). The remaining [*]
of each Rolling Forecast shall be non-binding good faith estimates for planning purposes; provided, however, that [*]
in a subsequent Rolling Forecast, as applicable, the quantities of Product specified for delivery for such [*]
shall not exceed [*] of the total quantities of Product
projected for delivery during the [*] of the Rolling Forecast
delivered to the Company [*] prior to the then-current Rolling
Forecast. For purposes of this Agreement, an “Excess” means the total quantity of Product requested by Sandoz
in its Firm Order for [*] that is in excess of [*].
The Company shall [*] supply Sandoz with Excess quantities
of Product as provided in Section 3.3.2, and the Company shall keep Sandoz informed of its communications with the Product Manufacturers
regarding the supply of Excess quantities.

 

    
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Execution Version

 

3.6.          Delivery
Terms.

 

3.6.1.       The
Company shall deliver the Product to such locations in the Territory as are designated by Sandoz in each Firm Order and in accordance
with the delivery date determined according to Section 3.3.2. The place of shipment by the Company or the Product Manufacturer
shall be [*]. All shipments of Product to Sandoz shall be
made via such carrier(s) as Sandoz may direct. Title and risk of loss shall pass to Sandoz upon [*].
The Company shall not be responsible for Product in transit, including any cost of insurance or other transport fees for Product,
or any risks associated with transit, storage and handling. The Company shall provide shipment information [*].
Notwithstanding the foregoing, the Company shall be responsible for ensuring that [*],
in accordance with the terms of the Quality Agreement.

 

3.6.2.       If
the Company is unable to deliver the requested quantity of the Product on the delivery date determined according to Section 3.3.2,
the Company shall notify Sandoz as soon as possible.

 

3.6.3.       At
the time of delivery of Product to Sandoz, Product shall have a remaining shelf-life of [*]
of the Product’s [*]. If supplied with Product that
has a shelf-life of less than [*], Sandoz may return such
Product to the Company for reimbursement of all costs, including return shipping and handling, unless Sandoz has agreed in writing
to accept such Product prior to delivery. If requested by Sandoz, the Company will [*]
to promptly provide [*]. The Company will use [*].

 

3.7.         Documentation.
With each shipment of the Product, the Company shall, or shall cause its Product Manufacturer to, provide all documentation in
the possession or control of the Company or the Product Manufacturer as is reasonably required by any Regulatory Authority from
time to time in connection with the Manufacture of the Product.

 

3.8.       Storage.
The Company shall maintain and store all Product in accordance with the Specifications and Good Manufacturing Practices at all
times, pending its shipment to Sandoz, in the Manufacturing Facility.

 

3.9.       Serialization
and Coding. The Company shall implement Product serialization and coding in accordance with Applicable Laws. Sandoz and the
Company will work together to align on implementation timing as well as the location of the coding information on each level of
packaging, including without limitation, the Product’s carrying case. The cost of setting up the relevant equipment and the
capability for online coding, creating unique serial numbers and its aggregations including necessary IT systems required for data
storage and data exchange in order to pack the Product to meet the regulations in the Territory shall be borne by the Company or
its Product Manufacturer.

 

3.10.        Inspection
and Acceptance.

 

3.10.1.       The
Company shall test and inspect each Batch of Product for compliance with the Specifications prior to the release and shipment thereof
to Sandoz. The Company shall provide a Certificate of Analysis with each shipment of each Batch of Product. The Certificate of
Analysis must evidence that the Product conforms to [*].

 

3.10.2.       Sandoz
may test and inspect the Product after receipt of each Batch of Product. Sandoz may reject any shipment (or portion thereof) of
Product if it does not Conform based on such inspection by written notification to the Company within [*]
of [*]. Sandoz shall be deemed to have accepted the Product
if Sandoz fails to give written notice of rejection within [*]
of [*], except in the case of [*]
such written notice of rejection must be provided within [*].
The written notice of rejection shall be given to the Company and shall include identification of the lot number and description
of the basis for rejection.

 

    
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Execution Version

 

3.10.3.       Following
receipt of written notice of rejection of a particular Batch of Product, the Company shall notify Sandoz in writing within [*]
of receipt of such notice from Sandoz whether the Company disagrees with the rejection and, if the Company does not provide such
written notice within such [*] period, the Company will
be deemed to agree with such rejection. If the Company provides written notice of disagreement with the rejection in accordance
with the preceding sentence, the following procedures shall apply. The Parties shall review the test results and attempt to reach
agreement as to whether or not the Product fails to Conform and if they fail to reach agreement within [*]
after delivery of the written notice of disagreement provided by the Company to Sandoz, the Parties shall designate a mutually
acceptable Third Party laboratory to make a determination on such matter from a sample obtained from the rejected Batch of Product.
The decision of the Third Party laboratory shall be binding on all Parties hereto and all expenses related to such Third Party
investigation shall be borne by the Party found to have been mistaken. Should such Third Party laboratory confirm Sandoz’s
claim, the Company shall, at Sandoz’s request, promptly provide Sandoz with [*].

 

3.10.4.       If
the Parties agree to the rejection of any Batch (or portion thereof) of Product or the Third Party laboratory confirms rejection
of any Batch (or portion thereof) of Product, Sandoz shall return any rejected Product to the Company at the Company’s expense
to an address that the Company shall designate within [*]
of the agreement or Third Party laboratory determination regarding rejection, as applicable, and the Company, at Sandoz’s
request, promptly provide Sandoz with a credit or refund of the Supply Price for the rejected Product if Sandoz has already paid
the Company for such rejected Product or promptly provide replacement Product to Sandoz subject to Sandoz’s payment of the
Supply Price for replacement Product unless Sandoz has already paid the Company for such rejected Product, together with [*].
If the Company, however, does not agree with Sandoz’s claim of non-compliance with the Specifications or other defect, Sandoz
shall not be obligated to return the rejected Product to the Company until after a final determination is made by a Third Party
laboratory that such Product does not comply with the applicable Specifications or is otherwise defective. Absent such designation
of address, Sandoz shall ship rejected Product to the location of the Manufacturing Facility. If the Third Party laboratory determines
that the Batch was not correctly rejected, then Sandoz shall pay the Company the Supply Price for such Batch and for any replacement
Product.

 

3.11.         Supply
Price; Payment; and

 

3.11.1.       The
initial Supply Price for the Product is set forth on Schedule D. The Supply Price is subject to adjustment in accordance
with the provisions of this Section 3.11.

 

3.11.2.       The
Supply Price may be adjusted based on [*] prior written
notice to Sandoz, as further described [*]; provided, however,
any [*] in Supply Price shall not exceed the greater of:
(a) [*] and (b) [*];
provided, further that, the Company shall provide Sandoz reasonable documentation of [*],
and Sandoz may audit such [*] pursuant to Section 3.14 or
Section 6.5, as applicable. [*].

 

    
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Execution Version

 

3.11.3.       The
Company will use [*] to [*].

 

3.11.4.       Simultaneously
with the shipment of any particular Batch of Product to Sandoz, the Company shall send an invoice to Sandoz covering such Product
order. Supply Price shall be invoiced in U.S. dollars. The Company shall reflect freight separately on each invoice for each total
shipment.

 

3.11.5.       Sandoz
shall pay each undisputed invoice no later than [*] after
receipt of such invoice by Sandoz. Payments by Sandoz to the Company, including, but not limited to, any final payment by Sandoz
to the Company, shall not be deemed as an acknowledgement by Sandoz that the Company has performed properly or that the Company
has fulfilled its contractual obligations, regardless of whether the respective payments were made with any reservation.

 

3.12.       Quarterly
Exchange Rate and Shipping Cost Reconciliation; Annual Volume Reconciliation.

 

3.12.1.       Within
[*] after the end of each Calendar Quarter during the Term,
the Parties shall determine: (a) the exchange rate for converting the Euro into United States Dollars published (i) on [*]
and (ii) by [*]; and (b) [*].
The Company shall then promptly provide Sandoz with a written report setting forth in reasonable detail [*].
Sandoz shall have the opportunity to review and approve such written report. If Sandoz agrees with such written report, then,
Sandoz shall provide the Company with a statement setting forth in reasonable detail, any underpayment or overpayment of the Net
Profit Share based on [*], which statement shall accompany
[*] for such Calendar Quarter. In the event of an underpayment
to the Company, Sandoz shall include such underpayment in the payment of the Net Profit Share for such Calendar Quarter. In the
event of an overpayment to the Company, Sandoz shall reduce such overpayment from the Net Profit Share payment for such Calendar
Quarter, or subsequent Net Profit Share payments if needed. If the Parties are unable to resolve any dispute under this Section
3.12.1, the matter shall be referred to an independent firm or certified public accountants chosen by agreement of the Parties
for resolution of such dispute. Any decision by said firm or independent certified public accounts shall be binding on the Parties.

 

3.12.2.       Within
[*] after the end of each calendar year during the Term,
the Parties shall determine the actual quantity of Product ordered by Sandoz during the preceding calendar year. The Company shall
then promptly provide Sandoz with a written report setting forth in reasonable detail the actual quantity of Product ordered by
Sandoz during the preceding calendar year and the amount of any underpayment or overpayment by Sandoz during the preceding calendar
year as a result of [*]. In the event of an underpayment
to the Company, the Company shall invoice Sandoz for such underpayment, and Sandoz shall pay such invoice in accordance with the
terms of Section 3.11.5. In the event of an overpayment to the Company, the Company shall, simultaneous with its written report,
issue to Sandoz a credit memorandum for such overpayment. If the Parties are unable to resolve any dispute under this Section 3.12.2,
the matter shall be referred to an independent firm or certified public accountants chosen by agreement of the Parties for resolution
of such dispute. Any decision by said firm or independent certified public accountant shall be binding on the Parties.

 

    
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Execution Version

 

3.13.       Specifications
& Quality.

 

3.13.1.  The
Company shall cause the Product Manufacturer to Manufacture the Product in strict conformity with the Specifications. Further,
the Company represents that, as of the Effective Date and during the Term, the Product Manufacturer holds the required manufacturing
authorization pursuant to Applicable Laws for the Manufacture of the Product.

 

3.13.2.  Within
[*], Sandoz and the Company (and/or the Product Manufacturer,
as applicable) shall enter into a Quality Agreement relating to the Product. The Company shall maintain a current Quality Agreement
and quality control system compliant with the Regulatory Authority for the Product to be delivered hereunder. Such a system shall
include [*]. Each Batch of Product to be supplied to Sandoz
hereunder shall be subject to a quality control inspection by the Company in accordance with the Company’s then current quality
assurance standards. In the event a conflict arises between the Quality Agreement and this Agreement, the term contained in the
Quality Agreement shall control with respect to quality-related matters relating to the Product.

 

3.13.3.  [*]
modifications, changes, additions or deletions to the: (a) [*];
(b) [*]; (c) [*];
(d) [*]; (e) [*];
(f) [*]; (g) [*];
or (h) [*], which the Company intends to carry out must
be evaluated and documented by [*]. Prior to implementation
of any such change, the Company agrees to provide reasonable notice to Sandoz in writing of such change and to obtain Sandoz’s
prior written consent to do so, which consent shall not be unreasonably withheld or delayed. Reasonable notice applies in circumstances
where a change is required as a result of changes to Applicable Law or the order of any Regulatory Authority, in which case the
Parties shall cooperate in good faith to implement the applicable change as soon as reasonably practicable following provision
of notice by the Company. Upon receiving Sandoz’s written consent, the Company shall amend its NDA through the appropriate
notification to the applicable Regulatory Authorities.

 

3.13.4.  The
Company is responsible for storing and maintaining retention samples of each Batch of Product shipped to Sandoz for [*],
in accordance with Good Manufacturing Practices and the terms of the Quality Agreement. The quantity of retention samples shall
be of sufficient quantity required to perform all required testing.

 

3.13.5.  The
Company shall be responsible for the testing and generation of stability data for the Product in accordance with the cGMP and ICH
guidelines.

 

3.13.6.  The
Company shall be responsible for confirming that all facilities (including the Manufacturing Facility), utilities, equipment and
the processes utilized to Manufacture the Product are satisfactorily validated according to the guidelines of all applicable Regulatory
Authorities and Applicable Laws.

 

3.13.7.  Records
which include the information relating to the Manufacturing, packaging and quality operations for each Batch of Product shall be
prepared by the Company for each lot at the time such operations occur. Such records shall be prepared in accordance with Applicable
Laws and the Company’s standard operating procedures. The Company shall keep Batch Records for each Batch of Product for
the period of time required by Applicable Law.

 

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Execution Version

 

3.14.       Manufacture
and Supply Records; Audit Rights.

 

3.14.1.  The
Company shall maintain: (a) complete, accurate and systematic written records of the Manufacture and supply of Product in the Territory
to Sandoz; and (b) records relating to quality and Manufacturing processes and control steps. Such records shall be maintained
for a period of [*] or longer if required under Applicable
Laws or the Quality Agreement.

 

3.14.2.  On
reasonable prior notice, the Company shall allow employees or authorized representatives of Sandoz and/or its Affiliates to perform
an audit of any documents, records or any facility, including the Manufacturing Facility, involved in the Processing or Manufacturing
of the Product, including, but not limited to, any such documents and records and facility related to the API and Product intermediates,
subject to the following sentence with respect to subcontractors. In case that any subcontractor is involved (including, without
limitation, any Product Manufacturer), the Company shall: (a) upon request, provide Sandoz and/or its Affiliates with the report
of the audits carried out by or on behalf of the Company of any such subcontractor or any other documents and information necessary
for Sandoz to verify compliance of such subcontractors with Applicable Laws and this Agreement; and (b) use [*]
to cause [*] to [*].

 

3.14.3.  Sandoz
shall also have the right to conduct “for-cause” audits to address significant Product or safety concerns as discovered
through Product failures related to the Manufacture of Products. Product failures shall include [*].
Sandoz shall notify the Company in writing in advance of the audit and thereafter, with the Company’s reasonable assistance,
the Product Manufacturer and Sandoz shall mutually determine the timing of the audit.

 

3.14.4.      In
the event the Company’s (or its Product Manufacturer’s) Manufacturing, packaging, testing or storage facility(ies),
including the Manufacturing Facility, producing Product is/are inspected by representatives of any Regulatory Authority in connection
with the Company’s (or its Third Party contractor’s) Manufacture of the Product, the Company will notify Sandoz promptly
upon learning of such inspection, and will, to the extent required by Applicable Laws, or to the extent permitted by Applicable
Laws and the Company’s agreements with its Third Party contractors, supply Sandoz with copies (redacted only for confidential
information) of any correspondence or communications or portions thereof which relate to the Product.

 

3.15.        Manufacturing
Facility. As of the Effective Date, the Manufacturing Facility is deemed to be Catalent [*].
As of the Effective Date, the Manufacturing Facility has any and all Regulatory Approvals required for the Manufacture, Labeling,
packaging, and exportation of the Product in accordance with the Specifications, cGMP and Applicable Laws, and thereafter the Company
will use [*] to ensure that the Manufacturing Facility shall
maintains any and all such Regulatory Approvals.

 

4.            COMMERCIALIZATION

 

4.1.         Commercialization.
Sandoz shall Commercialize the Product in the Territory in accordance with Applicable Law and shall use Commercially Reasonable
Efforts to Commercialize the Product in the Territory in accordance with [*].

 

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Execution Version

 

4.2.         Joint
Project Team.

 

4.2.1.       Formation.
Promptly after the Effective Date, the Parties will form a Joint Project Team (“JPT”) comprised of [*]
representatives of each of the Company and Sandoz. [*].

 

4.2.2.       Purposes.
The JPT will discuss the Launch and Commercialization of the Product; provided however, [*].

 

4.2.3.       Disputes.
The JPT will operate [*].

 

4.2.4.       Meetings.
The JPT will meet in person or by teleconference on a quarterly basis, or at such other frequency as the JPT agrees. The Parties
will agree upon the time and place of such meetings. Within [*]
after each meeting, [*].

 

4.3.       Sales
and Distribution; Returns. Sandoz shall be responsible for handling all returns, recalls, order processing, invoicing and collection,
distribution, and receivables for the Product Commercialized by Sandoz in the Territory pursuant to this Agreement. Sandoz shall
book all sales of the Product in the Territory.

 

4.4.       Pricing.
Sandoz will have independent, sole discretion to determine the pricing, terms of sale, marketing, and selling decisions for the
Product in the Territory without any consultation with, input from, or prior notice to the Company.

 

4.5.       Advertising
and Promotional Materials.

 

4.5.1.       Sandoz
shall prepare and produce all Promotional Materials for Commercialization of the Product in the Territory. In relation to the Product,
Sandoz shall determine the manner in which information will be presented and described to the medical community in any Promotional
Materials or other materials related to the Product for sale in the Territory. Sandoz shall own all right, title and interest in
and to any and all such Promotional Materials, including all applicable copyrights, trademarks (other than the Licensed Trademarks,
which are licensed to Sandoz under Section 2.4), program names and domain names for Product to be sold by Sandoz in the Territory.
For purposes of this Agreement, “Promotional Materials” means all Labeling, except FDA approved non-promotional
Labeling, such as, Product warning labels and the Product’s package insert, and advertising materials as defined in the Act
for Product to be sold by Sandoz in the Territory.

 

4.5.2.       Sandoz
shall be solely responsible for developing, filing and making decisions with respect to all Promotional Materials and associated
regulatory materials, including all filings and interactions with the FDA’s Office of Prescription Drug Promotion (“OPDP”).
The Parties shall jointly notify the FDA of the Company’s delegation of such responsibility for Product to be sold by Sandoz
in the Territory to Sandoz. Sandoz shall provide the Company with a copy of each such filing promptly after submission thereof.
For the avoidance of doubt, Sandoz will retain exclusive authority and responsibility for the filing of Promotional Materials with
the FDA on Form 2253 (or such other form as required by FDA) or as otherwise required by, or permitted under, Applicable Laws.
Sandoz shall promptly, but in any case within three (3) Business Days of receipt, provide the Company with complete copies of all
material correspondence relating to Promotional Materials for the Product with Regulatory Authorities, including OPDP.

 

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4.5.3.       Sandoz
Trademarks. All trademarks, trade names and packaging graphics owned or licensed by Sandoz and intended to be used in connection
with the Product will be chosen by Sandoz in its sole discretion. Additionally, in the event the Licensed Trademark(s) cannot be
used in connection with the Commercialization of Product in the Licensed Territory because of legal, safety and/or regulatory reasons,
Sandoz shall select and work with the Company to obtain regulatory acceptance for an alternative trademark or tradename for such
use and shall file and register appropriate registrations for such trademark with the USPTO. Sandoz shall own such alternative
trademark and all goodwill associated therewith.

 

4.6.       Medical
Information. Sandoz shall determine procedures for responding in a consistent manner to medical information requests on the
Product in the Territory. Sandoz shall be solely responsible for responding to all medical information requests and for providing
support and responding to product and medical complaints relating to the Product in the Territory; provided, that, the Company
shall cooperate with and assist Sandoz upon Sandoz’s reasonable request with regards to such activities.

 

5.            REGULATORY
MATTERS

 

5.1.       Regulatory
Approval; Regulatory Authority Communications.

 

5.1.1.       The
Company will be responsible for all regulatory and registration activities for the Product in the Territory at the Company’s
cost and expense (except as set forth in Section 4.5.2), including, but not limited to, being solely responsible for interacting
with FDA and maintaining the Regulatory Approval for the Product. For the avoidance of doubt, with respect to the 0.15mg/0.3ml
strength of the Product, which, as of the Effective Date, has not received FDA Regulatory Approval, the Company will be responsible
for the registration activities for such strength in the Territory with the objective of obtaining approval for such strength in
the Territory. The Company shall be responsible for conducting all clinical studies necessary for Regulatory Approval or required
by a Regulatory Authority as a condition to, or in connection with the grant or maintenance of a Regulatory Approval. At each meeting
of the JPT, the Company will present and discuss the status of all of the registration activities that the Company has performed
or caused to be performed pursuant to this Section 5.1.1 since the last meeting of the JPT. The Company shall perform any work
necessary in response to FDA deficiencies, and the Company shall keep Sandoz informed of the status of the registration activities
on a regular basis. In the event the Company does not [*], the Company shall [*].

 

5.1.2.       The
Company shall provide Sandoz with reasonable advance written notice (and in no event less than thirty (30) days’ advance
written notice whenever feasible) of meetings with the FDA regarding the Product. The Company shall consider in good faith any
input timely provided by Sandoz regarding regulatory activities relating to the Product in the Territory and will promptly update
Sandoz on the results of such regulatory activities. The Company shall provide to Sandoz complete copies of all material correspondence
with Regulatory Authorities regarding the Product.

 

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5.1.3.       The
Company acknowledges that it is not authorized to and agrees that it shall not interact directly with government agencies, entities
or authorities on behalf of Sandoz without the prior written authorization of Sandoz. In the event that such interaction with government
agencies, entities or authorities is authorized in writing, it is agreed that certain due diligence, additional inquiries, and
potentially other agreed upon measures will be required prior to or coincident with such authorization being granted and that this
Agreement may also need to be amended to include certain standard provisions including regular satisfactory reviews and updated
due diligence by Sandoz and its agents relating to the Company.

 

5.2.       Regulatory
Costs. The Company shall be responsible for paying all regulatory fees that are payable to a Regulatory Authority relating
to the Product, including the PDUFA program user fee for the product (and any other similar or related fees required by similar
laws, rules or regulations), except as provided in Section 4.5.

 

5.3.       Product
Withdrawals and Recalls.

 

5.3.1.       The
Parties agree that each Party shall consult with the other Party and the Parties shall jointly cooperate in all recalls, but that
the Company shall be responsible for providing proper notification of a Product recall or Product withdrawal to the applicable
Regulatory Authority(ies). With respect to Product Commercialized by Sandoz in the Territory, in the event that: (a) any Regulatory
Authority in the Territory issues a request, directive or order that Product be recalled or retrieved; (b) a court of competent
jurisdiction orders that Product be recalled or retrieved; or (c) Sandoz reasonably determines, after reasonable, good faith discussion
with the Company to the extent that time allows, that Product should be recalled or retrieved, Sandoz shall promptly notify the
Company of such event and both Parties shall cooperate in relation to the recall. Sandoz shall be responsible for the final recall
decision, communication to the public, and the logistic process regarding returned goods.

 

5.3.2.       All
reasonable costs of the Product recall and corrective actions shall be [*] to the extent that such costs are [*].
Subject to the Company’s indemnification obligations under Section 8.1, the Company shall be responsible for (or reimburse
Sandoz for) [*] to the extent caused by: (a) [*]; (b) [*]; or (c) [*]. To the extent the Company is
responsible for [*], the Company shall promptly reimburse Sandoz for [*], and the Company shall be responsible for
[*]. Subject to Sandoz’s indemnification obligations under Section 8.2, Sandoz shall be responsible for [*]
to the extent caused by: (a) [*]; (b) [*]; or (c) [*]. With respect to [*] shall allocate [*]
based on [*].

 

5.4.       Safety
Reporting. Within [*], the Parties shall enter into a mutually agreeable, commercially reasonable pharmacovigilance
agreement for the purpose of providing detailed procedures regarding the exchange of safety data and information regarding the
Product and for ensuring compliance with reporting requirements of Regulatory Authorities (the “Pharmacovigilance Agreement”).
The Pharmacovigilance Agreement shall provide, among other things, that the Company shall be, or shall cause a Third Party approved
in writing by Sandoz to be, responsible for maintaining the safety database for the Product and reporting safety-related information
to the FDA; provided, that, the Company shall be responsible for performance of the Company’s obligations under the Pharmacovigilance
Agreement to the extent performed on the Company’s behalf by such Third Party as if the Company were itself performing such
activities. [*] will be [*] responsible for [*] incurred by [*] related to [*]. In the event
a conflict arises between any pharmacovigilance term in this Agreement and a term in the Pharmacovigilance Agreement, the term
contained in the Pharmacovigilance Agreement shall prevail.

 

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5.5.       Compliance
with Government Pricing, Government Programs and State/Federal Pricing Transparency Regulations. Sandoz shall be solely responsible
for all federal, state and local government purchasing, pricing or reimbursement programs and private purchasing, pricing or reimbursement
programs with respect to the Product sold by Sandoz pursuant to this Agreement, including taking all necessary and proper steps
to execute agreements and file other appropriate reports and other documents with Regulatory Authorities and private entities necessary
for coverage of the Product under state, federal or other health care programs and to list the Product under such agreements as
appropriate. Sandoz shall be responsible for categorizing the Product under federal, state and local government pricing or reimbursement
programs in the Territory. Sandoz shall respond to all state and federal regulations on pricing transparency. In connection with
the foregoing, the Company will promptly provide Sandoz with any information and supporting documentation with respect to the Product,
which is within the Company’s possession or control, that is required to support all government pricing calculations including
product classifications, baseline AMP value and period or state/federal regulations/legislation related to government pricing,
Medicaid liabilities or pricing transparency regulations (current and future).

 

6.            FINANCIALS

 

6.1.       One-Time
Milestone Payments. During the Term, subject to [*], Sandoz will make: (a) the one-time, non-refundable, non-creditable
milestone payment set forth on Schedule B (“Milestone Payment”); and (b) the one-time, non-refundable,
non-creditable milestone payment(s) set forth on Schedule E (“Commercial Milestone Payments”); in each
case, to the Company upon successful completion of the corresponding milestone events; provided however, that Sandoz shall not
be obligated to make any Commercial Milestone Payment for a milestone completed after a Party’s receipt of a notice of termination
of this Agreement for any reason under Article 11 of this Agreement. Each Party shall promptly notify the other Party upon the
occurrence of a milestone (as applicable) which may occur prior to the completion of a final report referenced in Section 6.2.2
below, and the Company shall thereafter issue an invoice to Sandoz for the applicable Milestone Payment or Commercial Milestone
Payment. The Milestone Payment, and each of the Commercial Milestone Payments shall be due [*] following Sandoz’s
receipt of invoice thereof from the Company, but in no event shall such payment be due prior to [*].

 

6.2.          Net
Profit Sharing.

 

6.2.1.       Net
Profit Allocation Percentages. During the Term of this Agreement, the Company will be entitled to a payment from Sandoz equal
to its allocated percentage of Net Profit Share, as more fully set forth on Schedule B attached hereto. Sandoz shall retain
the remaining percentage of Net Profit Share.

 

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6.2.2.       Net
Profit Share Payments. All Net Profit Share allocation payments made by Sandoz to the Company will be made on a quarterly basis
within [*] after the end of the applicable Calendar Quarter, such payments shall be delivered along with a report showing
Net Profit, Net Sales, deductions from Net Sales and the Net Profit Share allocations. [*] following the end of a Calendar
Quarter, Sandoz shall [*]. The Parties agree that if, for any applicable Calendar Quarter, Net Profit is an amount less
than zero (0) (a “Negative Amount”), then no Net Profit Share payment will be made to the Company for such Calendar
Quarter, and Sandoz shall be permitted to carry such Negative Amount from such Calendar Quarter to any subsequent Calendar Quarter(s)
to offset Net Profits, if any, for such subsequent Calendar Quarter(s).

 

6.3.       Branded
Prescription Drug Fees. The Parties shall [*] any applicable
Annual Branded Prescription Drug Fees owed with regard to the Product, including under Section 9008 of the Patient Protection and
Affordable Care Act (ACA), Public Law 111-148 (124 Stat. 119 (2010)), as amended by section 1404 of the Health Care and Education
Reconciliation Act of 2010 (HCERA), Public Law 111-152 (124 Stat. 1029 (2010)), or any successor laws (the “Branded Pharma
Fee”). [*] will accrue [*].
Each [*], [*]
shall [*]. Such [*]
amount is subjected to [*].

 

6.4.       Taxes.
All amounts payable by Sandoz to the Company under this Agreement are exclusive of any tax, levy or similar governmental charge
that may be assessed by any jurisdiction, whether based on gross revenue, the Manufacturing, sale, storage, delivery, possession
or use of the Product, the execution or performance of this Agreement or otherwise. If any payment under this Agreement by Sandoz
to the Company is subject to withholding tax under Applicable Law, Sandoz shall have the right to withhold any and all such taxes,
which shall be paid to the appropriate taxing authority for the account of the Company and such payments to Company shall be net
of the applicable withholding taxes. Sandoz shall provide to the Company appropriate proof of payment of any and all taxes so withheld.
The Parties agree to cooperate to minimize any withholding taxes (including providing each other with any exemption certificates
or other documentation establishing that no taxes are due, or such taxes are due at a reduced rate). Additionally, all charges
made by the Company to Sandoz hereunder for the supply of Product is exclusive of any sales, use, value added or similar tax customarily
borne by a purchaser (“Sales Taxes”). If the Company has a legal obligation to collect or charge Sales Taxes,
an amount equal to such taxes will be invoiced to, and paid by, Sandoz and [*].
Other than as provided in this Section 6.4, each Party shall be responsible for its own taxes, including but not limited to any
tax, fee, assessment or other charge based on or measured by the capital or net income, or any other tax imposed by any jurisdiction.

 

6.5.          Financial
Records; Audits.

 

6.5.1.       During
the Term, the Parties shall maintain complete and accurate books and records for the purpose of determining the amounts paid or
payable pursuant to this Agreement. Such books and records shall be kept for such period of time required by Applicable Laws, but
no less than at least [*]. Such records shall be subject
to inspection in accordance with Section 6.5.2.

 

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6.5.2.       Upon
[*] written notice, a Party (“Audited Party”)
will permit its books and records for the prior calendar year to be examined for any cost, expense, Net Sales or Net Profit for
which it may owe a payment to the other Party [*], during
normal business hours, by an independent auditor appointed by the other Party (“Auditing Party”) and reasonably
acceptable to the Audited Party, and at the Auditing Party’s expense (and the Auditing Party shall not compensate such auditor
on a contingent fee basis), to the extent necessary to verify the accuracy of the amounts paid by the Audited Party to the Auditing
Party pursuant to this Agreement. Any information received as a result of such inspection will be maintained as the Audited Party’s
Confidential Information. In the event that an examining auditor concludes any underpayment or overcharging by any Party, the auditor
will specify such underpayment or overcharging in a written report, along with the information on which such conclusion is based.
This report will be shared promptly with the Audited Party. The underpaying or overcharging Party shall remit such underpayment
or reimburse such overpayment to the underpaid or overcharged Party within [*],
provided, that if a Party disputes the conclusion of the auditor, the Parties will attempt to resolve the dispute according to
Section 12.2. Further, if the audit for an audited period shows an underpayment or an overcharge by any Party for that period in
excess of [*] of the amounts properly determined, the underpaying
or overcharging Party, as the case may be, shall reimburse the applicable underpaid or overcharged Party conducting the audit,
for its respective audit fees and reasonable out-of-pocket costs in connection with such audit, which reimbursement shall be made
within [*] after receiving appropriate invoices and other
support for such audit-related costs.

 

6.6.         Disclaimer.
The Company acknowledges that Sandoz makes no representation, warranty or covenant, either express or implied, that (a) Sandoz
will succeed in Commercializing the Product in the Territory, (b) the Product will achieve any particular sales level, or (c) achievement
of any Commercialization milestone or plan guarantees the achievement of any particular future sales level or Commercialization
milestone within any given period of time, if at all. The Company acknowledges that the milestone triggers are not a measure of
either Party’s expectations (minimum or otherwise) with respect to the potential performance of the Product or the payments
that the Company may receive from Sandoz as a result of the Commercialization of the Product in the Territory under this Agreement,
and are not intended to be used and will not be used as a measure of damages under any circumstances.

 

7.           REPRESENTATIONS
AND WARRANTIES

 

7.1.         Corporate
Power. Each Party hereby represents and warrants that such Party is duly organized and validly existing under the laws of its
jurisdiction of formation and organization and has full corporate power and authority to enter into this Agreement and to carry
out the provisions hereof.

 

7.2.        Due
Authorization. Each Party hereby represents and warrants that such Party is duly authorized to execute and deliver this Agreement
and to perform its obligations hereunder.

 

7.3.         Binding
Obligation. Each Party hereby represents and warrants that this Agreement is a legal and valid obligation binding upon it and
is enforceable in accordance with its terms. The execution, delivery and performance of this Agreement by such Party does not conflict
with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate
any law or regulation of any court, governmental body or administrative or other agency having authority over it.

 

7.4.        Compliance
with Applicable Laws. The Company represents, warrants and covenants to Sandoz that it shall, at all times, comply with all
Applicable Laws in its performance of its obligations pursuant to this Agreement. Sandoz represents, warrants and covenants to
the Company that it shall, at all times, comply with all Applicable Laws in its performance of its obligations pursuant to this
Agreement.

 

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7.5.        Additional
Company Representations and Warranties. The Company hereby represents and warrants that:

 

7.5.1.       All
Licensed Patents existing as of the Effective Date are listed on Schedule A, and the Licensed Patents listed on Schedule
A represent all Patents that the Company or its Affiliates Control that are necessary or useful for the Manufacture or Commercialization
of the Product in the Territory. As of the Effective Date, to the best of the Company’s knowledge, all of the Licensed IP
and the Licensed Trademarks are valid and enforceable.

 

7.5.2.       The
Company has the right to the Licensed IP and the Licensed Trademarks to grant the licenses to Sandoz that are granted in Sections
2.3 and 2.4.

 

7.5.3.       The
Company has not granted, and will not grant during the Term, rights to any Third Party under the Licensed IP or Licensed Trademark(s)
that conflict with the licenses granted to Sandoz in Sections 2.3 and 2.4.

 

7.5.4.       As
of the Effective Date, it has not received any notice from a Third Party alleging that: (a) the practice of the Licensed IP or
the Licensed Trademark(s) infringes or may infringe such Third Party’s intellectual property right; or (b) Development or
Manufacturing of the Product by the Company infringes or misappropriates the intellectual property rights of any Third Party.

 

7.5.5.       As
of the Effective Date, there is no actual or, to the best of the Company’s knowledge, threatened infringement by a Third
Party of any of the Licensed IP or the Licensed Trademark(s) licensed to Sandoz hereunder.

 

7.5.6.       As
of the Effective Date, there is no action, claim, demand, suit, proceeding, arbitration, grievance, citation, summons, subpoena,
inquiry or investigation of any nature, civil, criminal, regulatory or otherwise, in law or in equity, pending or, to the best
of the Company’s knowledge, threatened against the Company in connection with the Product or any of the Licensed IP or Licensed
Trademark(s) licensed to Sandoz hereunder.

 

7.5.7.       Except
for the agreements listed on Schedule G (the “Material Contracts”), the Company has no other material
agreements with a Third Party relating to the supply of finished formulation of the Product, and the Company has provided Sandoz
with access to true, correct and complete (except for redacted financials) copies of the Material Contracts.

 

7.5.8.       Each
Material Contract is in full force and effect as of the Effective Date. During the Term, the Company will use [*]
to maintain the Material Contracts in full force and effect and perform its obligations thereunder during the term thereof. The
Company will keep Sandoz informed of any material development pertaining to any Material Contract that would reasonably be expected
to have a material adverse effect on Sandoz’s rights under this Agreement. During the Term, the Company shall not, without
the prior written approval of Sandoz: (a) amend any provision of any Material Contract in a manner that would reasonably be expected
to have a material adverse effect on Sandoz’s rights under this Agreement; or (b) make any election or exercise any right
or option to terminate in whole or in part any Material Contract to the extent such election or exercise would reasonably be expected
to have a material adverse effect on Sandoz’s rights under this Agreement. During the Term, the Company shall promptly provide
Sandoz with written notice of any alleged, threatened, or actual breach of any Material Contract of which it becomes aware. As
of the Effective Date, none of the Company, its Affiliates or any Third Party is in breach of any Material Contract.

 

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7.5.9.       The
Company has provided Sandoz with access to true, correct and complete copies of: (a) [*];
and (b) [*] impact on the ability of Sandoz to Commercialize
the Product in the Territory pursuant to this Agreement.

 

7.5.10.       All
Product supplied by the Company to Sandoz hereunder shall Conform to the Specifications as of the date of delivery, and the Manufacturing,
packaging, Labeling, storage, disposal and handling of all Product by the Company prior to delivery to Sandoz shall comply with
the applicable current Regulatory Approvals, Good Manufacturing Practices and Applicable Law. Until the Product expiration date,
the Product shall be free from defects in materials and manufacture and shall continue to Conform to the Specifications (except
for defects attributable to any materials supplied by Sandoz, including artwork, advertising and labeling). Subject to the Company’s
indemnification obligations under Section 8.1, the sole remedy for non-compliance with this Section 7.5.10 shall be refund or replacement
of rejected Product, as set forth in Section 3.9.

 

7.5.11.       As
of the Effective Date, the Company has conducted Development of the Product in accordance with all Applicable Laws.

 

7.6.       Company
Conduct.

 

7.6.1.       Sandoz
promotes the societal and environmental values of the United Nations Global Compact to its external suppliers and uses its
influence where possible to encourage their adoption. Sandoz expects suppliers with whom it works to comply with the law and
to adhere to ethical business practices set out in the Novartis Supplier Code. The Company shall: (a) comply with the
Novartis Supplier Code (and any published updates) which can be viewed and downloaded from https://www.novartis.com/about-us/corporate-responsibility/resources-news/codes-policies-guidelines (you
may request a copy free of charge from Novartis); (b) allow Sandoz (or its nominated Third Party experts) adequate access
for the purposes of auditing compliance with these standards and provide information and documentation on reasonable request
to Sandoz and its Affiliates to allow Sandoz and its Affiliates to verify compliance with the Novartis Supplier Code in the
form requested; (c) to rectify identified non-compliances with the Novartis Supplier Code (where capable of remedy) and
report remediation progress to Novartis on request; and (d) ensure that where the Company’s Affiliates and/or permitted
Third Party subcontractors/agents of the Company, which have been pre-approved by Sandoz, that such Affiliates and/or Third
Party subcontractors/agents also comply with the above requirements relating to the Novartis Supplier Code.

 

7.6.2.       The
Company shall train any representative who is involved with the performance of services to Sandoz on anti-corruption and anti-bribery
at its own expense. Such training shall include the provisions of the applicable anti-corruption and anti-bribery laws and the
standards set out in the Novartis Global Anti-Bribery Policy.

 

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7.6.3.       The
Company acknowledges and agrees that the Novartis Supplier Code forms an integral part of this Agreement and understands that failure
to adhere to these standards and/or obstructing/refusing Sandoz’s audit rights as stated in the Novartis Supplier Code shall
constitute a material breach of this Agreement and entitle Novartis to immediately terminate the Agreement by written notice without
compensation.

 

7.7.       Sandoz
Conduct. In the performance of its obligations under this Agreement, Sandoz shall comply and shall cause its employees and
contractors and those of its Affiliates that are engaged in Commercialization of the Product in the Territory (but not any other
Affiliates of Sandoz) to comply with all Applicable Laws regarding corruption, bribery, kickbacks, ethical business conduct, fraud
and money laundering.

 

7.8.       Disclaimer.
Except as expressly set forth in this Agreement, NEITHER PARTY MAKES ANY WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION,
AS TO DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES,
ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES, OR ANY OTHER MATTER CONCERNING THE COMMERCIAL UTILITY OF THE PRODUCT.

 

8.            INDEMNIFICATION;
LIABILITY

 

8.1.       Company
Indemnification. The Company shall indemnify and hold the Sandoz Indemnified Parties harmless from and against any Liability
paid or payable by the Sandoz Indemnified Parties to a Third Party as a result of any Claim that results from, arises out of or
is based upon: (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement,
the Pharmacovigilance Agreement, or the Quality Agreement; (b) the negligence or willful misconduct of the Company, its officers,
directors, agents, and employees relating to this Agreement; (c) the Development, Processing or Manufacturing of the Product by
or on behalf of the Company pursuant to this Agreement; (d) any Product Liability Claim involving a failure to warn claim, a Product
manufacturing defect (i.e., non-Conforming Product) or a Product design defect; (e) any failure to supply penalties incurred by
Sandoz from any of Sandoz’s customers as a result of the Company’s failure to provide Product in accordance with this
Agreement unless caused by any negligent action or omission of Sandoz, or (f) any actual or alleged infringement of the Intellectual
Property Rights of a Third Party resulting from the Commercialization of the Product by Sandoz in accordance with the terms of
this Agreement, where [*] as contemplated by [*];
in each case, except to the extent to, or for matters for, which Sandoz would be required to indemnify Company Indemnified Parties
under Section 8.2.

 

8.2.       Sandoz
Indemnification. Sandoz shall indemnify and hold the Company Indemnified Parties harmless from and against any Liability paid
or payable by the Company Indemnified Parties to a Third Party as a result of any Claim that results from, arises out of or is
based on: (a) any breach of any of the representations, warranties, covenants or agreements made by Sandoz in this Agreement; (b)
the negligence or willful misconduct of Sandoz, its officers, directors, agents, servants and employees relating to this Agreement;
or (c) the Commercialization of Product by or on behalf of Sandoz or its Affiliates; in each case, except to the extent to, or
for matters for, which the Company would be required to indemnify Sandoz Indemnified Parties under Section 8.1.

 

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8.3.       Prompt
Notice Required. No claim for indemnification hereunder shall be valid unless notice of the matter which may give rise to such
claim is given in writing by the applicable Company Indemnified Party or Sandoz Indemnified Party (the “Indemnitee”)
to the Party against whom indemnification may be sought (the “Indemnitor”) as soon as reasonably practicable
after such Indemnitee becomes aware of such claim; provided, however, that the failure to notify the Indemnitor shall not relieve
it from any liability that it may have to the Indemnitee otherwise unless the Indemnitor demonstrates that the defense of the underlying
Claim has been materially prejudiced by such failure to provide timely notice. Such notice shall request indemnification and describe
the Liability and Claim giving rise to the request for indemnification, and provide relevant details thereof. The Indemnitor shall
notify the Indemnitee no later than thirty (30) days from such notice of its intention to assume the defense of any such Claim.
If the Indemnitor fails to give the Indemnitee notice of its intention to defend any such Claim as provided in this Section 8.3,
the Indemnitee involved shall have the right to assume the defense thereof with counsel of its choice, at the Indemnitor’s
expense, and defend, settle or otherwise dispose of such Claim with the consent of the Indemnitor, not to be unreasonably withheld
or delayed.

 

8.4.       Indemnitor
May Settle. The Indemnitor shall at its expense, have the right to control, through counsel reasonably satisfactory to the
Indemnitee, any Claim or Liability which is or may be brought in connection with all matters for which indemnification is provided
hereunder, including without limitation the right to settle or defend. In such event the Indemnitee of the Claim or Liability in
question and any successor thereto shall permit Indemnitor’s counsel and independent auditors, to the extent relevant, full
and free access to its books and records and otherwise fully cooperate with the Indemnitor in connection with such Claim or Liability;
provided, however, that (i) the Indemnitee shall have the right fully to participate in such defense at its own expense; (ii) the
Indemnitor’s counsel and independent auditors shall not disclose any Confidential Information of the Indemnitee to the Indemnitor
without the Indemnitee’s consent, except as permitted pursuant to Section 10.2; and (iii) access shall only be given to the
books and records that are relevant to the Claim or Liability at issue. The defense by the Indemnitor of any such actions shall
not be deemed a waiver by the Indemnitee of its right to assert a claim with respect to the responsibility of the Indemnitor with
respect to the Claim or Liability in question. The Indemnitor shall have the right to settle or compromise any Claim against the
Indemnitee without the consent of the Indemnitee provided that the terms thereof: (a) provide for the unconditional release of
the Indemnitee; (b) require the payment of compensatory monetary damages by Indemnitor only; and (c) expressly state that neither
the fact of settlement nor the settlement agreement shall constitute, or be construed or interpreted as, an admission by the Indemnitee
of any issue, fact, allegation or any other aspect of the Claim being settled. In all other cases, the Indemnitee and Indemnitor
must agree to enter into any proposed settlement, which shall not be unreasonably withheld or delayed. No Indemnitee shall pay
or voluntarily permit the determination of any Liability which is subject to any such Claim while the Indemnitor is negotiating
the settlement thereof or contesting the matter, except with the prior written consent of the Indemnitor, which consent shall not
be unreasonably withheld or delayed.

 

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Execution Version

 

8.5.       Assistance.
Each Party shall use Commercially Reasonable Efforts to provide all relevant information in its possession and reasonable assistance
to the other Party as necessary to enable the other Party to defend any Claim. Nothing herein shall prevent the Indemnitee from
retaining counsel of its choice, at such Indemnitee’s expense, to monitor the defense, trial, or settlement of a Claim, and
the Indemnitor and its counsel shall reasonably cooperate with such Indemnitee counsel.

 

8.6.       LIMITATION
OF LIABILITY. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NEITHER PARTY SHALL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY
SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES IN CONNECTION WITH THIS AGREEMENT EXCEPT TO THE EXTENT THAT A PARTY IS SOLELY
SEEKING REIMBURSEMENT FOR SUCH DAMAGES PAID TO A THIRD PARTY AND SUCH REIMBURSEMENT IS COVERED BY THE INDEMNIFICATION PROVISIONS
OF THIS AGREEMENT; AND PROVIDED THAT THIS SECTION 8.6 SHALL NOT BE CONSTRUED TO LIMIT A PARTY’S RIGHT TO SPECIAL, INCIDENTAL
OR CONSEQUENTIAL DAMAGES FOR THE OTHER PARTY’S BREACH OF ARTICLE 10.

 

9.            INSURANCE

 

9.1.         Company
Insurance. The Company, at its sole cost, at all times during [*], the insurance coverages with the minimum limits as
set forth below. Insurance shall be purchased from insurance companies licensed to do business within the state or country where
any Manufacturing work is being performed and rated A.M. Best A-VIII or better. It is also understood and agreed that any deductibles
associated with the insurance coverage set forth below shall be assumed by the Company at its sole cost.

 

		a.	Statutory Workers’ Compensation insurance, including occupational disease, as required
by the State(s) in which workers are located;

 

		b.	Employer’s Liability insurance in the amount of [*];

 

		c.	Commercial General Liability insurance, including Contractual Liability, with a combined
single limit of not less than [*]; and

 

		d.	Product Liability Insurance, including Products/Completed Operations insurance, of
not less than [*], and [*] in the aggregate. This policy must be maintained in full force and effect for [*].

 

9.1.1.       All
insurance coverage required of the Company will be primary and not concurrent or excess over any insurance or self-insurance program
carried by Sandoz, and will have no recourse to any self-insured program or insurance program carried by Sandoz.

 

9.1.2.       By
requiring the Company to maintain insurance, Sandoz does not represent that coverage and limits required will be adequate to fund
all Liabilities for which the Company may be liable. The limits of insurance coverage shall not affect or limit the liability or
indemnity obligations of the Company stated elsewhere in this Agreement or as required by Applicable Law.

 

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9.1.3.       All
required insurance coverage of the Company will be maintained without interruption during the term of this Agreement plus an additional
[*] following the termination of this Agreement by Sandoz or the Company.

 

9.1.4.       The
Company will waive, and will cause its insurers to waive, all rights of recovery, under subrogation or otherwise, against Sandoz
at all tiers.

 

9.1.5.       Before
the commencement of any services pursuant to this Agreement, the Company will provide Sandoz with one or more certificates of insurance
on forms acceptable to Sandoz, completed by a duly authorized representative of the Company’s insurer(s). Such certificate(s)
will (i) certify that the insurance coverages set forth above are in full force and effect, (ii) provide that such insurance coverages
will not be cancelled, non-renewed, or materially changed through issuance of other policy(ies) of insurance or otherwise until
Sandoz has received [*] written notice of such cancellation, non-renewal or material changes, and (iii) name Sandoz
and its employees, directors, officers, subcontractors, representatives and agents as additional insureds, for services performed
under or incidental to this Agreement.

 

9.2.       Sandoz
Insurance. Without prejudice to any rights or remedies the Company may have under this Agreement or otherwise at law generally,
Sandoz shall (at its sole cost and expense) maintain a program of insurance or self-insurance that is customary of companies in
the same or similar business.

 

9.3.       Maintenance
Covenant. Each Party represents, warrants and covenants that nothing has or will be done or be omitted to be done that may
result in any of the said insurance policies being or becoming void, voidable or unenforceable during the Term or any Renewal Term
of this Agreement.

 

10.          CONFIDENTIALITY

 

10.1.       Obligations.
Each Party acknowledges that it may receive Confidential Information of the other Party in the performance of this Agreement. Each
Party shall safeguard and hold such information received by it from the other Party in confidence by using such reasonable precautions
as it normally takes with its own confidential and proprietary information, but in no event less than a reasonable degree of care,
and each Party shall limit disclosure of the furnishing Party’s information to those employees and consultants of the receiving
Party and its Affiliates who are informed of and understand the confidential nature thereof and are bound by non-disclosure and
non-use obligations no less restrictive than those set forth in this Agreement. To the extent that such employees or consultants
take an action, or fail to take an action, that would constitute a breach of such confidentiality or non-use obligations by such
employee or contractor (as if such employee or contractor were a party to this Agreement), it will constitute a breach of such
obligations as if a Party had taken, or failed to take, such action itself. Each receiving Party shall not, directly or indirectly,
disclose, publish or use for the benefit of any Third Party or itself, except in exercising its rights and carrying out its duties
hereunder or as otherwise provided in this Article 10, any Confidential Information of the other Party, without first having obtained
the furnishing Party’s written consent to such disclosure or use. This restriction shall not apply to any information within
the following categories: (i) information that is known to the receiving Party or its Affiliates prior to the time of disclosure
to it, to the extent evidenced by written records or other competent proof; (ii) information that is independently developed by
employees, agents, or independent contractors of the receiving Party or its Affiliates without reference to or reliance upon the
information furnished by the disclosing Party, as evidenced by written records or other competent proof; (iii) information disclosed
at any time to the receiving Party or its Affiliates by a Third Party that has a right to make such disclosure; or (iv) any other
information that is or becomes part of the public domain through no fault or negligence of the receiving Party.

 

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10.2.       Required
Disclosures. The receiving Party shall also be entitled to disclose the other Party’s Confidential Information (i) that
is required to be disclosed in compliance with applicable laws or regulations (including, without limitation, to comply with SEC,
NASDAQ, NYSE or similar stock exchange disclosure requirements) or by order of any governmental body or a court of competent jurisdiction,
or (ii) as may be necessary or appropriate in connection with the enforcement of this Agreement; provided, however, that the Party
disclosing such information shall promptly notify the other Party and shall use Commercially Reasonable Efforts to obtain confidential
treatment of such information by the agency or court or other disclosee, and that, in the case of disclosures under (i), shall
(a) provide the other Party with prompt prior notice of the proposed disclosure such that the other Party may seek a protective
order or other appropriate remedy, and (b) provide the other Party with a copy of the proposed disclosure in sufficient time to
allow reasonable opportunity to comment thereon.

 

10.3.       Use
of Information. Each Party shall use, and direct each of its Affiliates to use, any Confidential Information obtained by it
from the other Party or their respective Affiliates, pursuant to this Agreement or otherwise, solely in connection with the transactions
contemplated hereby.

 

10.4.       Return
of Information. Upon the earlier of expiration or termination of this Agreement, the receiving Party shall, if requested by
the disclosing Party, return or destroy all Confidential Information of the disclosing Party and copies and extracts thereof; provided,
that the receiving Party shall not be required to return or destroy any electronic copy of Confidential Information created pursuant
to its standard electronic backup and archival procedures. Notwithstanding the foregoing, the receiving Party may retain one copy
of any Confidential Information of the disclosing Party to the extent required to defend or maintain any litigation relating to
this Agreement, comply with legal or regulatory requirements or established document retention policies, or to demonstrate compliance
with this Agreement. Notwithstanding the return or destruction of the Confidential Information (or the retention of any Confidential
Information pursuant to the preceding sentence) the Parties shall continue to be bound by its obligations of confidentiality and
non-use hereunder. Each Party’s obligations of confidentiality and non-use shall extend during the Term and for a period
of [*] from the expiration or termination of this Agreement.

 

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10.5.       Publicity.
The Parties may agree to issue a joint press release substantially, in a form agreed by the Parties, as of the Effective Date or
as promptly as practicable following the Effective Date. Each agrees to consult with the other Party reasonably and in good faith
with respect to the text and timing of any publicity, news release or public announcement, written or oral, whether to the public,
the press, stockholders or otherwise, referring to the terms or existence of this Agreement, the subject matter to which it relates,
the performance under it or any of its specific terms and conditions, and to obtain the other Party’s written consent, prior
to any such disclosure, except a Party may not unreasonably withhold, condition or delay consent to, and either Party may make,
such announcements or disclosures to securities exchanges or other applicable agencies as it determines, based on advice of the
legal counsel for the Party making such announcement, are required by Applicable Law, including United States securities laws,
rules or regulations, or market disclosure. Each Party shall provide the other Party with advance notice of legally required disclosures.
Each Party may make any public statement in response to questions by the press, analysts, investors or those attending industry
conferences or financial analyst calls, or issue press releases, so long as any such public statement or press release is not inconsistent
with prior public disclosures or public statements made in accordance with this Section 10.5 and which do not reveal non-public
information about the other Party.

 

10.6.       Filing
of this Agreement. The Parties will coordinate in advance with each other in connection with the filing of this Agreement (including
redaction of certain provisions of this Agreement) with the U.S. Securities and Exchange Commission or any stock exchange or governmental
authority on which securities issued by a Party or its Affiliate are traded, and each Party will use reasonable efforts to seek
confidential treatment for the terms proposed to be redacted; provided that, each Party will ultimately retain control over what
information to disclose to the U.S. Securities and Exchange Commission or any stock exchange or other governmental authority, as
the case may be, and provided further that the Parties will use their reasonable efforts to file redacted versions with any governing
bodies which are consistent with redacted versions previously filed with any other governing bodies. Other than such obligation,
neither Party (nor its Affiliates) will be obligated to consult with or obtain approval from the other Party with respect to any
filings to the U.S. Securities and Exchange Commission or any stock exchange or other governmental authority on which securities
issued by a Party or its Affiliate are traded.

 

10.7.       Prior
Non-Disclosure Agreement. As of the Effective Date, the terms of this Article 10 shall supersede any prior non-disclosure,
secrecy or confidentiality agreement between the Parties (or their Affiliates) dealing with the subject of this Agreement. Any
information disclosed pursuant to any such prior agreement shall be deemed Confidential Information for purposes of this Agreement.

 

10.8.       Equitable
Relief. Given the nature of the Confidential Information and the irreparable harm that a Party may suffer upon unauthorized
disclosure, use or transfer of its Confidential Information to any Third Party, the Parties agree that monetary damages would not
be a sufficient remedy for any breach of this Article 10. In addition to all other remedies, a Party shall be entitled to specific
performance and injunctive and other equitable relief as a remedy for any breach or threatened breach of this Article 10.

 

11.       TERM
AND TERMINATION

 

11.1.       Term.
The term of this Agreement shall begin on the Effective Date and, unless otherwise terminated as permitted under this Agreement,
shall continue for a period of ten (10) years from the first Launch of the Product in the Territory pursuant to this Agreement
(the “Initial Term”). This Agreement shall thereafter be automatically renewed for consecutive one (1) year
renewal terms (each a “Renewal Term”) unless terminated in accordance with the terms hereof or a Party provides
notice of non-renewal to the other Party at least [*] in advance of [*] that such Party does not wish to renew this
Agreement, in which case this Agreement shall expire on the last day of the Initial Term or such Renewal Term, as the case may
be. The “Term” means the Initial Term and, if applicable, the Renewal Term.

 

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11.2.       Termination.

 

11.2.1.     Termination
for Cause. A Party may terminate this Agreement for any breach of a material provision of this Agreement by the other Party
[*] in the case of payment breach) after written notice to the other Party containing details of such breach if the breach
remains uncured at the end of such notice period. With respect to a default or breach of this Agreement, failure of a Party to
provide notice to the defaulting or breaching Party as required by this Section 11.2.1 shall not constitute a waiver of the right
to give such notice with respect to any subsequent default or breach.

 

11.2.2.     Sandoz
Termination.

 

a.         Commercial
Viability. Upon [*] prior written notice to the Company, Sandoz shall have [*] the right to terminate this Agreement
either in its entirety or [*], if Sandoz determines that [*].

 

b.        Product Viability. Sandoz may terminate this Agreement upon [*]
prior written notice to the Company if, with respect to the Product, there is a withdrawal of the Product from the Territory due
to (i) any decision, judgment, ruling or other requirement of the FDA, (ii) the issuance of a voluntary recall by FDA, or (iii)
mutual written agreement of the Parties of material safety of the Product.

 

c.        Failure to Supply. Sandoz may, upon [*] prior
written notice to the Company, terminate this Agreement if the Company is unable to supply, or arrange for the supply of the Product
to Sandoz pursuant to a Firm Order, and such inability to supply lasts for [*],
unless [*].

 

d.        Infringement Action. Sandoz may, upon [*]
prior written notice to the Company, terminate this Agreement if [*]
that prevents either (i) [*] or (ii) [*].
For purposes of this Agreement, “Infringement Action” any claim of infringement or potential infringement of
Third Party intellectual property rights in connection with the marketing, development, manufacture, production, use, importation,
offer for sale, or sale of the Product in the Territory.

 

e.        Quality. Sandoz may, upon [*] prior written
notice to the Company, terminate this Agreement if, at any time during the Term, any supplier of Components (including API, excipients
and primary and secondary packaging Components) and/or the Product Manufacturer(s) either (i) [*]
and Company is unable to effect corrective action that is satisfactory to Sandoz or its designated auditor within [*],
or (ii) fails to maintain an approved Product NDA.

 

f.         Product Clearance. Beginning on [*], Sandoz
may, upon [*] written notice to the Company, terminate this
Agreement if [*].

 

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Execution Version

 

11.2.3.     Termination
by the Company.

 

a)       Termination
of Rights [*]. Upon [*]
prior written notice to Sandoz, the Company shall have, at its sole discretion, the right to terminate this Agreement with respect
to [*] if: (a) [*],
Sandoz fails to [*], or (b) if [*]
following the receipt of [*] (or such longer period as agreed
in writing by the Parties, such agreement not to be unreasonably withheld, conditioned or delayed), Sandoz fails to [*].

 

b)       Termination
of this Agreement. Upon [*] prior written notice to
Sandoz, the Company may terminate this Agreement in its entirety if Sandoz fails to [*]
within [*], provided [*]

 

11.2.4.     Bankruptcy.
To the extent permitted under Applicable Law, a Party may terminate this Agreement effective immediately with written notice if
the other Party shall file for bankruptcy, shall be adjudicated bankrupt, shall file a petition under insolvency laws, shall be
dissolved or shall have a receiver appointed for substantially all of its property. All rights and licenses granted under or pursuant
to any Section of this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the Bankruptcy Code,
licenses of rights to “intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. The Parties
shall retain and may fully exercise all of their respective rights and elections under the Bankruptcy Code. Upon the bankruptcy
of the Company, Sandoz shall further be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual
property Controlled by the Company to the extent needed to allow Sandoz to make or have made and continue to market and sell any
Product under this Agreement, and such, if not already in its possession, shall be promptly delivered to Sandoz by the Company,
unless the Company elects to continue, and continues to perform all of its obligations under this Agreement.

 

11.2.5.     Effects
of Termination.

 

a.         Except as expressly set forth in this Agreement, upon expiration or termination of this Agreement for any reason, neither
Party shall have any obligation to make any payments to the other, except for amounts accrued prior to expiration or termination.

 

b.        In the event of expiration or termination of this Agreement by (i) the Company pursuant to Section 11.2.1 (Termination for
Cause), Section 11.2.3(b) (Termination of this Agreement), or Section 11.2.4 (Bankruptcy) or (ii) Sandoz pursuant to Section 11.2.1
(Termination for Cause), Section 11.2.2 (Sandoz Termination) or Section 11.2.4 (Bankruptcy), (i) all licenses and rights granted
by Company to Sandoz will terminate and (ii) each Party will promptly return to the other Party all materials and records in its
possession or control containing Confidential Information of the other Party. In addition, in the event of termination of this
Agreement by Sandoz pursuant to [*], the Company shall [*].

 

c.         In the event of early termination of this Agreement for any reason other than termination by the Company pursuant to Section
11.2.1 (Termination for Cause), Section 11.2.3(b) (Termination of this Agreement) or Section 11.2.4 (Bankruptcy), Sandoz and its
Affiliates shall have the right, in Sandoz’s sole discretion, to continue, to the extent that Sandoz and its Affiliates continue
to have Product inventory, to fulfill orders received from customers for Product in the Territory until up to [*]
after the effective date of termination of this Agreement. For Product sold by Sandoz or its Affiliates after the effective date
of termination, Sandoz shall continue to make payments to the Company in accordance with Article 6, as applicable.

 

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d.       In
the event Sandoz or the Company issues a notice of partial termination of this Agreement, pursuant to Section 11.2.2(a) (Commercial
Viability) or Section 11.2.3(a) (Termination of Rights [*]),
respectively, then the Company and Sandoz, during the notice period (unless the Parties agree to extend such period of time, such
agreement not to be unreasonably withheld, conditioned or delayed), shall negotiate a commercially reasonable amendment to this
Agreement, to account for [*], such amendment to have an
effective date as of the effective date of such partial termination. All other rights to Product [*]
shall continue in effect in accordance with the terms of this Agreement.

 

11.2.6.     Non-Exclusive
Remedy. Termination of this Agreement shall be in addition to, and shall not prejudice, the Parties’ remedies at law
or in equity, including, without limitation, the Parties’ ability to receive legal damages and/or equitable relief with respect
to any breach of this Agreement, regardless of whether or not such breach was the reason for the termination.

 

11.2.7.     Damages;
Set-Off. Without limiting Section 11.2.6, if a Party alleges that the other Party has breached any provision of this Agreement
and claims in good faith that it is entitled to receive damages with respect to any such breach (whether or not the alleging Party
terminates this Agreement pursuant to Section 11.2.1 (Termination for Cause)), then (a) if there is no Dispute regarding such breach
or damages or, if there is a Dispute regarding such breach or damages, while such Dispute is pending resolution pursuant to Sections
12.2, 12.3 and 12.4, as applicable, the alleging Party will have the right to deduct such claimed damages from amounts otherwise
payable hereunder by the alleging Party to the other Party and (b) where there is a Dispute regarding such breach or damages, (i)
the alleging Party will have the right to deduct any damages to which the alleging Party is determined to be entitled in such Dispute
from amounts otherwise payable hereunder by the alleging Party to the other Party to the extent such damages have not been previously
deducted hereunder or otherwise paid to the alleging Party by the other Party, and (ii) if the alleging Party is determined not
to be entitled to damages in such Dispute or to be entitled to damages in such Dispute that are less than the amounts previously
deducted hereunder by the alleging Party, then the alleging Party shall promptly pay the other Party any amounts of claimed damages
previously deducted by the alleging Party hereunder that exceed the damages (if any) to which the alleging is determined to be
entitled in such Dispute.

 

12.          GENERAL

 

12.1.       Exclusivity.
During the Term of this Agreement, except as contemplated by this Agreement, the Company agrees not to, directly or indirectly,
and Sandoz agrees not to directly conduct, participate in or sponsor the Commercialization of any pharmaceutical composition that:
(a) either (i) is or will be approved for the Territory under a drug application by way of 21 U.S.C. §355(b)(1) or (b)(2)
or (ii) is AB-rated to the Product and approved under an abbreviated new drug application by way of 21 U.S.C. §355(j); and
(b) is comprising an injectable formulation having epinephrine as an active ingredient; and (c) is indicated for the emergency
treatment of allergic reactions, including anaphylaxis; provided, however, such restriction shall not apply [*] in the event
the Company exercises its rights under Section 11.2.3(a) or Sandoz exercises its right under Section 11.2.2(a).

 

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12.2.       Informal
Dispute Resolution. Unless otherwise expressly provided for herein, any disputes arising out of or in connection with this
Agreement (“Dispute”) shall be identified in writing and presented to the other Party. Within fourteen (14)
days after delivery of such notice of dispute, the Sandoz Executive Officer and the Company Executive Officer shall meet at a mutually
acceptable time and place, and thereafter as often as they reasonably deem necessary, to attempt to resolve the dispute in good
faith. All reasonable requests for information made by one Party to another shall be honored. All negotiations pursuant to this
clause are confidential and shall be treated as compromise and settlement negotiations for purposes of applicable rules of evidence.
If such Executive Officers cannot resolve such dispute within fourteen (14) days after such meeting, then, subject to Section 12.3,
each Party reserves its right to any and all remedies available under law or equity with respect to any other dispute.

 

12.3.       Jurisdiction.
The Company and Sandoz agree to irrevocably submit to the exclusive jurisdiction of (i) the state courts of New York County, New
York, U.S.A., or (ii) the United States District Court for the Southern District of New York, U.S.A., for the purposes of
any suit, action or other proceeding arising out of this Agreement or any transaction contemplated hereby. Each Party agrees to
commence any such action, suit or proceeding either in the United States District Court for the Southern District of New York,
U.S.A. or, if such suit, action or other proceeding may not be brought in such court for jurisdictional reasons, in the state courts
of New York County, New York, U.S.A. Each Party further agrees that service of any process, summons, notice or document by U.S.
registered mail or recognized international courier service to such Party’s respective address set forth in Section 12.14
of this Agreement shall be effective service of process for any action, suit or proceeding in New York with respect to any matters
to which it has submitted to jurisdiction in this Agreement. Each Party irrevocably and unconditionally waives any objection to
the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in
(i) the state courts of New York County, New York, U.S.A., or (ii) the United States District Court for the Southern District of
New York, U.S.A., and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court
that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum (e.g., under the doctrine
of forum non conveniens or pursuant to 28 U.S.C. § 1404(a)). Each Party hereto agrees that any such proceeding shall be conducted
solely in the English language.

 

12.4.       Waiver
of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH PARTY CERTIFIES
AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS; (II) IT UNDERSTANDS AND HAS CONSIDERED
THE IMPLICATIONS OF SUCH WAIVERS; (III) IT MAKES SUCH WAIVERS VOLUNTARILY; AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS CLAUSE 12.4.

 

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12.5.       Governing
Law. This Agreement and any and all matters arising directly or indirectly herefrom shall be governed by and construed and
enforced in accordance with the internal laws of the State of New York, U.S.A. applicable to agreements made and to be performed
entirely in such state, without giving effect to the conflict of law principles thereof. The Parties expressly agree that the United
Nations Convention on Contracts for the International Sale of Goods shall not apply to this Agreement or any Party’s performance
hereunder.

 

12.6.       Convictions,
Exclusion, Debarment, Etc. Neither Party nor any person employed by or under contract to such Party now or in the future in
connection with any activities contemplated by this Agreement: (a) has been convicted of an offense related to any Federal or State
healthcare program, including (but not limited to) those within the scope of 42 U.S.C. § 1320a-7(a); (b) has been excluded,
suspended or is otherwise ineligible for Federal or State healthcare program participation, including (but not limited to) persons
identified on the General Services Administration’s List of Parties Excluded from Federal Programs or the HHS/OIG List of
Excluded Individuals/Entities; (c) has been debarred from or under any Federal or State healthcare program (including, but not
limited to debarment under Section 306 of the Federal Food, Drug and Cosmetic Act (21 USC 335a); or (d) is on any of the FDA Clinical
Investigator enforcement lists, including, but not limited to, the (i) Disqualified/Totally Restricted List, (ii) Restricted
List and (iii) Adequate Assurances List. Each Party further agrees that if, at any time after execution of this Agreement, it becomes
aware that it has or any Person who participated, or is participating, in the performance of any activities contemplated by this
Agreement has become or is in the process of being charged, convicted, debarred, excluded, proposed to be excluded, suspended or
otherwise rendered ineligible, or is on an enforcement list, such Party will immediately notify the other Party in writing.

 

12.7.       Assignment
or Transfer of Interest. This Agreement shall be binding upon and inure to the benefit of the successors or permitted assigns
of each of the Parties and may not be assigned or transferred by a Party (other than to an Affiliate provided that the assigning
Party shall remain liable and responsible to the non-assigning Party hereto for the performance and observance of all such duties
and obligations by such Affiliate) without the prior written consent of the other, except that such consent shall not be required
on the part of either Party in connection with a transfer or sale of all or substantially all of the business of that Party to
which this Agreement relates, to a Third Party, whether by merger, sale of stock, sale of assets or otherwise; provided, however,
that in the event of such a transaction (whether this Agreement is actually assigned or is assumed by the acquiring party by operation
of law (e.g., in the context of a reverse triangular merger)), intellectual property rights of the acquiring party to such transaction
(if other than one of the Parties to this Agreement) shall not be included in the technology licensed hereunder or otherwise subject
to this Agreement. Any attempted assignment that does not comply with the terms of this Section 12.7 shall be void.

 

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12.8.       Force
Majeure. Provided that such failure is cured as soon as is practicable after its occurrence, the failure of the Company or
Sandoz to perform any of its obligations under this Agreement, other than the payment of amounts invoiced, shall not subject the
Company or Sandoz to any liability, if such failure is caused or occasioned by a Force Majeure Event. The Party claiming Force
Majeure Event shall notify the other Party with notice of the Force Majeure Event as soon as practicable, but in no event later
than fourteen (14) days after its occurrence, which notice shall reasonably identify such obligations under this Agreement and
the extent to which performance thereof will be affected. In such event, the Parties shall meet promptly to determine an equitable
solution to the effects of any such Force Majeure Event, and the Party affected by the Force Majeure Event shall use all reasonable
efforts to minimize the loss or inconvenience suffered by the Parties.

 

12.9.       Entire
Agreement. This Agreement, including any schedules or exhibits hereto, and the pharmacovigilance agreement and Quality Agreement
to be executed by the Parties pursuant to this Agreement, contains the entire agreement and understanding between the Parties relating
to the subject matter hereof, and shall supersede all prior or contemporaneous agreements and understandings, oral or written,
relating to the subject matter hereof and any inconsistent terms of any subsequent invoice, purchase order or similar document.
Neither Party shall be liable or bound to the other Party in any manner by any representations, warranties or covenants relating
to such subject matter except as specifically set forth herein.

 

12.10.       Amendments
and Waiver. This Agreement may not be amended except by an instrument in writing signed on behalf of each of the Parties. By
an instrument in writing a Party may waive compliance by another Party with any term or provision of this Agreement that such other
Party was or is obligated to comply with or perform. Any failure of a Party to enforce at any time, or for any time period, any
of the provisions of this Agreement shall not be deemed or construed to be a waiver of such provisions or a waiver of any right
of such Party thereafter to enforce each and every such provision on any succeeding occasion or breach thereof.

 

12.11.       Nature
of Relationship. In making and performing this Agreement, the Parties are acting, and intend to be treated, as independent
entities and nothing contained herein shall be deemed or implied to create an independent contractor, agency, distributorship,
joint venture or partnership relationship among the Parties hereto. Except as otherwise expressly provided herein, no Party may
make any representation, warranty or commitment, whether express or implied, on behalf of or incur any charges or expenses for,
or in the name of, any other Party.

 

12.12.       Further
Actions and Documents. Each Party agrees to execute, acknowledge and deliver all such further instruments, and to do all such
further acts, as may be reasonably necessary or appropriate to carry out the intent and purposes of this Agreement.

 

12.13.       Notices.
All notices and other communications required or permitted to be given or made pursuant to this Agreement shall be in writing signed
by the sender and shall be deemed duly given (i) on the date delivered, if personally delivered, (ii) on the date sent by telecopier
with automatic confirmation by the transmitting machine showing the proper number of pages were transmitted without error, (iii)
on the Business Day after being sent by FedEx or another recognized overnight mail service which utilizes a written form of receipt
for next day or next Business Day delivery, or (iv) five (5) Business Days after mailing, if mailed by United States postage-prepaid
certified or registered mail, return receipt requested, in each case addressed to the applicable Party at the address set forth
below; provided, that a Party may change its address for receiving notice by the proper giving of notice hereunder:

 

    	Page 39
	[*] designates portions of this document have been omitted pursuant to a request for confidential treatment filed separately with the Commission. Confidential treatment has been required with respect to this omitted information.

     

    

 

Execution Version

 

	If to Sandoz:	If to the Company:
	 	 
	Sandoz Inc.	Adamis Pharmaceuticals Corporation
	[*]	11682 El Camino Real, Suite 300
	[*]	San Diego, CA 92130
	Attn: [*]	Attn:     President & CEO
	Tel: [*]	Tel:   (858) 997-2400
	Fax: [*]	Fax:   [*]
	 	 
	With a copy to:	With a copy to:
	 	 
	Sandoz Inc.	[*]
	[*]	[*]
	[*]	[*]
	Attn: [*]	Attn: [*]
	Tel: [*]	Tel: [*]
	Fax: [*]	Fax: [*]

 

12.14.      Counterparts;
Facsimile/PDF Signature. This Agreement may be executed by the exchange of faxed executed copies, certified electronic signatures
or executed copies delivered by electronic mail in Adobe Portable Document Format or similar format, and any signature transmitted
by such means for the purpose of executing this Agreement shall be deemed an original signature for purposes of this Agreement.
The parties agree that the electronic signatures appearing on this Agreement are the same as handwritten signatures for the purposes
of validity, enforceability and admissibility pursuant to the Electronic Signatures in Global and National Commerce (ESIGN) Act
of 2000 and Uniform Electronic Transactions Act (UETA) model law or similar applicable laws. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original as against any Party whose signature appears thereon, but all
of which together shall constitute one and the same instrument.

 

12.15.       Severability.
In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the Parties shall negotiate in good faith with a view to the substitution
therefore of a suitable and equitable solution in order to carry out, so far as may be valid and enforceable, the intent and purpose
of such invalid provision; provided, however, that the validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions contained herein shall not be in any way impaired thereby, it being intended that all of
the rights and privileges of the Parties hereto shall be enforceable to the fullest extent permitted by law.

 

12.16.       Headings.
The captions or headings of the Sections or other subdivisions hereof are inserted only as a matter of convenience or for reference
and are not part of the agreement of the Parties and shall have no effect on the meaning of the provisions hereof. All references
in this Agreement to Sections or Articles are to Sections or Articles of this Agreement, unless otherwise indicated.

 

    	Page 40
	[*] designates portions of this document have been omitted pursuant to a request for confidential treatment filed separately with the Commission. Confidential treatment has been required with respect to this omitted information.

     

    

 

Execution Version

 

12.17.       Expenses.
Each Party will pay all of its own fees and expenses (including all legal, accounting and other advisory fees) incurred in connection
with the negotiation and execution of this Agreement and the arrangements contemplated hereby.

 

12.18.       Third
Party Rights. Nothing in this Agreement will be deemed to create any Third Party beneficiary rights in or on behalf of any
other Person.

 

12.19.       Performance
through Affiliates. Notwithstanding anything to the contrary contained herein, each Party may discharge any obligations and
exercise any right hereunder, or performance hereunder, through any of its Affiliates. Each Party hereby guarantees the performance
by its Affiliates of such Party’s obligations under this Agreement, and will cause its Affiliates to comply with the provisions
of this Agreement in connection with such performance.

 

12.20.      Survival.
Expiration or termination of this Agreement shall not relieve the Parties of any rights or obligation accruing prior to such expiration
or termination. In addition, the Parties’ respective rights and obligations under the following Sections and Articles (and
all associated definitions) shall survive the termination or expiration of this Agreement: Section 5.3, Sections 6.5 (for
three (3) years following the calendar year in which termination or expiration occurs), 6.6, 7.8, 9.1.3 (for three (3) years following
termination or expiration occurs), 11.2.5 and 11.2.6 and Article 1, Articles 8, 10 and 12 (other than 12.1).

 

[signature page follows]

 

    	Page 41
	[*] designates portions of this document have been omitted pursuant to a request for confidential treatment filed separately with the Commission. Confidential treatment has been required with respect to this omitted information.

     

    

 

IN
WITNESS WHEREOF, each Party is signing this Agreement on the date stated opposite that Party’s signature.

 

SANDOZ
INC.

	 	 	 	 	 
	By:	/s/
    Carol Lynch	 	Date:	28-June-2018
	Name:
    	Carol
    Lynch	 	 	 
	Title:	President
    Sandoz US	 	 	 
	 	 	 	 	 
	ADAMIS PHARMACEUTICALS CORPORATION	 	 
	 	 	 	 	 
	By:	/s/
    Dennis J. Carlo	 	Date:	7/1/18
	Name:	Dennis
    J. Carlo	 	 	 
	Title:	Pres/CEO	 	 	 

 

Distribution
and Commercialization Agreement Signature Page

 

     

    

    

 

SCHEDULE
A

 

Licensed
Patents and Licensed Trademarks

 

Licensed
Patents:

 

	Country	Serial
    No.	Filed
    Date	Publication/Patent
    No.	Status	Priority
    Date
	US	[*]	[*]	 	[*]	[*]
	US	29/537,278	08/24/2015	D781,569	ISSUED	08/24/2015
	US	29/591,934	01/25/2017	D799,202	ISSUED	08/24/2015
	US	[*]	[*]	 	[*]	[*]

 

Licensed
Trademarks:

 

“Symjepi”
(pending US TM application no. 86582421)

 

“Symject”

 

symjepi.com

 

     

    

    

 

SCHEDULE
B

 

One-Time
Milestone Payments and Net Profit Share

 

One-Time
Milestone Payments

 

	Milestone	Amount
    Payable
	Upon
    the Effective Date of this Agreement	$[*]
    USD

 

Net
Profit Share

 

Subject
to the terms of the Agreement, including without limitation, [*], Sandoz shall pay the Company fifty percent (50%) of the
Net Profits. Sandoz shall retain the remaining fifty percent (50%) of the Net Profits.

 

     

    

    

 

SCHEDULE
C

 

Product

 

Product

 

“Product”
means epinephrine pre-filled syringe injectable device in 0.3mg/0.3ml, 0.15mg/0.3ml, and any other strength, as approved by the
FDA under New Drug Application Number 207534, as amended, in finished, packaged form that is distributed by Sandoz under the Licensed
Trademark SymjepiTM or as an authorized generic version distributed by Sandoz pursuant to the NDA, in each case, in
the Territory, under Sandoz NDC numbers, pursuant to this Agreement.

 

     

    

    

 

SCHEDULE
D

 

Supply
Price

 

The
initial Supply Price is in the table below:

 

	Annual

    Quantity of

    Product*	[*]	[*]	[*]	[*]	[*]
	[*]
    Batches	$[*]	$[*]	$[*]	$[*]	$[*]
	[*]
    Batches	$[*]	$[*]	$[*]	$[*]	$[*]

 

*Note:
Quantities are in individual units of pre-filled syringe with device. In addition, [*]. This means, for example, that [*].

 

		☐	The
                                         Supply Price set forth above is comprised of the following:

 

		o	[*].

 

	[*]	[*]	[*]
	[*]	[*]	[*]
	[*]	[*]

		o	[*].

 

		o	[*].

 

	[*]	[*]	[*]	[*]	[*]	[*]
	[*]	$[*]	$[*]	$[*]	$[*]	$[*]

 

The
Company will [*]. The Company shall maintain complete and accurate written records of all costs relating to Product and
will make these records available to Sandoz as requested in accordance with this Agreement.

 

     

    

    

 

SCHEDULE
E

 

[*]
Commercial Milestone Payments

 

	One-time
    Commercial Milestones	One-time

    Milestone

    Amount	Commercial
    

    Payment
	[*]	[*]*

                                                                                 

                                                                                 

                                                                                 
	$[*]	 
	[*]	[*]*

                                                                                 

                                                                                 

                                                                                 
	$[*]	 
	[*]	[*]*

                                                                                 

                                                                                 

                                                                                 
	$[*]	 
	[*]	[*]*

                                                                                 

                                                                                 

                                                                                 
	$[*]	 
	[*]	[*]*

                                                                                 

                                                                                 

                                                                                 
	$[*]	 

*
[*]

 

[*].

 

     

    

    

 

SCHEDULE
F

 

Approved
Product Manufacturer

 

Catalent
[*] located at [*]

 

[*]

 

     

    

    

 

SCHEDULE
G

 

Material
Contracts

 

[*]

 

 

			[*]

 

 

[*]

 

 

			[*]

 

 

 

     

    

    

 

SCHEDULE
H

 

Licensed
Trademark Usage Guidelines

 

Pursuant
to the Distribution and Commercialization Agreement by and between Adamis Pharmaceuticals Corporation, a corporation organized
under the laws of Delaware, with an office located at 11682 El Camino Real, Suite #300, San Diego, CA 92130 (the “Licensor”)
and Sandoz Inc., a corporation organized under the laws of Colorado, with an office at 100 College Road West, Princeton, New Jersey
08540 (“Licensee”) (the “Agreement”) and to create and maintain strong trademark protection,
Licensee should follow these guidelines when using any Licensed Trademarks in print and electronic materials. In the event a conflict
arises between these Licensed Trademark Usage Guidelines and the Agreement, the terms contained in these Licensed Trademark Usage
Guidelines shall control with respect to matters relating to the usage of the Licensed Trademarks. Any capitalized terms used
but not defined herein shall have the meaning ascribed to them in the Agreement.

 

[*].

 

 

 

 

 

 

     

    

    

 

Status
of Licensed Marks

 

June
2018

 

	Mark	Country	Status
	SYMJEPI

                                                                                 
	United
    States	Pending
    Application
	[*]

                                                                                 
	[*]	[*]

     

    

    

 

SCHEDULE
I

 

[*]Document

SEPARATION AGREEMENT
This Separation Agreement (the “Agreement”) is by and between Marino Garcia (“Employee”) and Synergy Pharmaceuticals, Inc., a Delaware corporation (the “Company”). 
WHEREAS, Employee’s status as an employee of the Company will end effective on September 14, 2018 (the “Termination Date”); and
WHEREAS, Employee and the Company desire to assure a smooth and effective transition of Employee’s duties and to wind-up their employment relationship amicably; and
WHEREAS, the payments and benefits being made available to Employee pursuant to this Agreement are in excess of any payments or benefits Employee is otherwise eligible to receive.
WHEREAS, Reference is made to the Amended and Restated Executive Employment Agreement between Employee and the Company, dated as of January 7, 2015 (the “Employment Agreement”).  
NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, Employee and the Company agree as follows:
1.    Termination Date.  Employee acknowledges that the Employee’s status as an employee of the Company shall end on the Termination Date. Employee understands that as a condition to receiving the Severance Benefits (as defined below), he must execute the General Release attached hereto as Exhibit A (the “General Release”) within forty-five (45) days after the Termination Date and not revoke the General Release during the seven (7) day period after Employee signs the General Release.  The General Release will become effective on the eighth (8th) day after Employee signs the General Release, so long as it has not been revoked by Employee before that date (the “Effective Date”).
2. Separation Payments and Benefits.  Without admission of any liability, fact or claim, the Company hereby agrees, subject to Employee’s timely execution and non-revocation of the General Release and Employee’s continuing performance of Employee’s obligations pursuant to this Agreement, to provide Employee the severance payments and benefits set forth below:
(a) Severance Payment. The Company shall pay Employee an aggregate cash (lump-sum) amount equal to $400,600, payable within ten (10) business days after Employee executes the General Release, properly delivers it to the Company and the General Release becomes irrevocable. 
(b) Equity Awards.  Any unvested stock options granted to Employee by the Company will accelerate and become fully vested and exercisable as of the Termination Date and each stock option granted to Employee by the Company (including, without limitation, such stock options that receive accelerated vesting under this Section
									
	SMRH:227905986.3 		

 2(c)) shall remain exercisable for the remainder of its term (assuming no termination of employment occurred).
(c) 2018 Bonus.  Employee shall receive a cash bonus for the 2018 fiscal year in the same manner and in the same amount as if he remained employed by the Company through the date of payment, but which shall be pro-rated based on the number of days he was employed by the Company during the 2018 fiscal year in relation to the number of days in the 2018 fiscal year. Any such bonus shall be paid to Executive in a lump sum cash payment on the first payroll date in April 2019.     
(d) Taxes; Tax Payments.  
(i) Employee understands and agrees that all payments under this Agreement will be subject to appropriate tax withholding and other deductions, as and to the extent required by law.
If the payment of the Total Payments (as defined below) will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, the Company shall pay the Employee on or before the tenth (10th) day following the date of the payment giving rise to the Excise Tax, an additional amount (the “Gross-Up Payment”) such that the net amount retained by the Employee of the Gross-Up Payment, after deduction of any federal, state and local income and employment taxes (including, without limitation, the Excise Tax) on the Gross-Up Payment equals the total Excise Tax imposed on the Total Payments. For purposes of determining whether any of the payments will be subject to the Excise Tax and the amount of such Excise Tax, (A) any payments or benefits received or to be received by the Employee in connection with a Change in Control (as defined in the Employment Agreement) or the Employee’s termination of employment, whether payable pursuant to this Agreement or any other plan, arrangement or agreement with the Company, its successors, any person whose actions result in a Change in Control or any corporation affiliated (or which, as a result of the completion of the transaction causing such a Change in Control, will become affiliated) with the Company within the meaning of Section 1504 of the Code (such severance and Change in Control payments and benefits, the “Total Payments”) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of Code Section 280G(b)(1) shall be treated as subject to the Excise Tax, unless and then only to the extent, in the opinion of tax counsel selected by the Company’s independent auditors and acceptable to the Employee (the “Calculation Firm”), the Total Payments (in whole or in part) do not constitute parachute payments, or such excess parachute payments (in whole or in part) represent reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of the Code either in their entirety or in excess of the base amount within the meaning of Section 280G(b)(3) of the Code, or are otherwise not subject to the Excise Tax and (B) the amount of the Total Payments that shall be treated as subject to the Excise Tax shall be equal to the lesser of (I) the total amount of the Total Payments or (II) the amount of excess parachute payments and benefits that shall be determined by the
									
	SMRH:227905986.3 		

 Calculation Firm in accordance with the principles of Section 280G(d)(3) and (4) of the Code. For purposes of determining the amount of the Gross-Up Payment, the Employee shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation in the state and locality of the Employee’s residence at the time the Gross-Up Payment is made, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes (based on Employee’s circumstances). In the event the Excise Tax is subsequently determined to be less than the amount taken into account hereunder, the Employee shall repay to the Company within 30 days after the time the amount of such reduction in Excise Tax is finally determined the portion of the Gross-Up Payment that can be repaid such that the Employee remains whole on an after-tax basis from the Excise Tax following such repayment (taking into account any reduction in income or excise taxes to the Employee from such repayment) plus interest on the amount of such repayment at the Federal short-term rate provided in Section 1274(d)(1)(C)(i) of the Code. In the event the Excise Tax is determined to exceed the amount taken into account hereunder (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment), the Company shall make an additional gross-up payment (consistent with how the Gross-Up Payment is determined) in respect of such excess (plus any interest payable with respect to such excess) within 30 days after the time that the amount of such excess is finally determined.  For the avoidance of doubt, the Gross-Up Payment shall be paid in addition to the Total Payments, and in no event shall the Total Payments be reduced.  In all events, any gross-up payment (including the Gross-Up Payment) shall be paid by no later than the last day of the calendar year immediately following the calendar year in which Employee pays the relevant tax.

(e) Realization Bonus.  Employee retains his rights under Section 1.5(b) of the Employment Agreement to such period of time as provided in Section 1.5(b) of the Employment Agreement. 
(f) Sole Separation Benefit.  Employee agrees that the payments and benefits provided by this Agreement are not required under the Company’s normal policies and procedures and are provided solely in connection with this Agreement. Employee further acknowledges and agrees that the payments and benefits referenced in this Agreement constitute adequate and valuable consideration, in and of themselves, for the promises contained in this Agreement and the General Release.
(g) Continued Obligations.  Employee acknowledges and agrees that Employee shall continue to be subject to, and abide by, the terms of the Nondisclosure and Assignment of Inventions Agreement executed by Employee and attached hereto as Exhibit A (the “Surviving Provisions”), which shall continue to apply and remain in full force and effect.  [NTD: We asked the client to provide.]

									
	SMRH:227905986.3 		

3. Full Payment.  Other than as set forth in Section 2 above and Section 8 below, Employee shall not be entitled to any other payments from the Company including but not limited to bonuses, commissions, or other cash or non-cash awards, penalties, interest or attorneys’ fees and Employee expressly represents that Employee has been compensated for all monies owed to Employee from the Company; provided, however, that (i) to the extent unpaid as of the Termination Date, the Company shall pay the Compensation Payment (as defined in the Employment Agreement) to Employee as provided in Section 4.1 of the Employment Agreement and (ii) Employee shall continue to be eligible for indemnification under the Company’s bylaws and other documents, as well as under any insurance policy. 
4. Transition; Non-Disparagement; Cooperation; Transfer of Company Property.  Employee further agrees that:
(a) Transition.  Employee shall help facilitate a smooth transition of Employee’s duties to other employees of the Company.
(b) Mutual Non-Disparagement.  From and after the date of this Agreement, the Employee shall not make any public or private statement (whether orally, in writing, via electronic transmission, or otherwise) that disparage, denigrate or malign the Company, in any case, in a manner that would be reasonably expected to be materially harmful to the Company. From and after the date of this Agreement, the Company shall cause each of the members of the Board and each of the Company’s and its subsidiaries’ officers not to, and shall not direct or authorize any other employee of the Company or any of its subsidiaries to, make any public or private statement (whether orally, in writing, via electronic transmission, or otherwise) that disparage, denigrate or malign the Employee, in any case, in a manner that would be reasonably expected to be materially harmful to the Employee.  The foregoing limitations in this Section 4(b) shall not be violated by truthful statements made (i) to any governmental authority or (ii) which are in response to legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings).  
(c) Cooperation.  For a period of four years following the Termination Date, Employee agrees to cooperate fully and promptly with the Company in its efforts to prosecute or defend itself against any claim, suit, demand or cause of action relating to Employee’s work for the Company or otherwise relating to the Company and about which Employee has knowledge (in any case, not including any claim, suit, demand or cause of action brought by the Company against Employee or by Employee against the Company). Notwithstanding the immediately preceding sentence, following the Termination Date, (a) the Company shall provide Employee with advance written notice of such required cooperation within a reasonable period of time prior to the date on which such cooperation will be required, (b) such cooperation shall not create a conflict with any of Employee’s obligations or duties to his then current employer, (c) such cooperation shall be provided at reasonable times and locations, (d) the Employee shall report to, and take direction from, only the Company’s Chief Executive Officer in
									
	SMRH:227905986.3 		

 providing the cooperation described herein, (e) the Company shall reimburse Employee (in compliance with Code Section 409A) for all reasonable expenses incurred by him in complying with this Section 4(c), subject to appropriate itemization and substantiation of such expenses and (f) to the extent such cooperation takes a material amount of Employee’s time, Employee shall be compensated by the Company at a mutually agreeable rate of compensation.     
(d) Return of Company Property.  On or before Monday, September 17, 2018, Employee agrees to return to the Company any and all property, tangible or intangible, relating to its business, which Employee possessed or had control over at any time (including, but not limited to, Company-provided credit cards, building or office access cards, keys, computer or other business equipment, manuals, files, documents, records, software, employee database and other data), and that Employee shall not retain any copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files, documents, records, software, customer or employee database or other data files, memoranda, records, and other documents, and any other physical or personal property which are the property of the Company and which Employee had in Employee’s possession, custody or control, including any computers, cellular phones, tablets, PDAs or similar business equipment. 
5. Confidentiality.  Employee agrees to keep the fact, terms and amount of this Agreement completely confidential, and not to disclose such information to anyone other than Employee’s current and/or former spouse, attorneys and licensed tax and/or professional investment advisors (hereafter referred to as “Employee’s Confidants”), all of whom will be informed of and be bound by this confidentiality provision.  Employee understands and agrees that any disclosure of information in violation of this confidentiality provision by Employee or by any of Employee’s Confidants might cause the Company injury and damage, the actual amount of which would be impractical or extremely difficult to determine, and therefore the Company may seek equitable relief.  Nothing herein shall be construed to prohibit any person from: (i) disclosing information that is already in the public domain, or (ii) making truthful statements to any governmental agency or in any legal or administrative proceeding. Pursuant to 18 U.S.C. 1833(b), Employee shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, if Employee files a lawsuit for retaliation by the Company or its affiliates for reporting a suspected violation of law, he may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if Employee (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.
6. Governing Law.  This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of New York, without regard to any principles of conflicts of laws. 

									
	SMRH:227905986.3 		

7. Section 409A.  Termination of Employee’s employment is intended to constitute a “separation from service” and will be determined consistent with the rules relating to a “separation from service” as such term is defined in Treasury Regulation Section 1.409A-1.  It is intended that each installment of the payments provided hereunder constitute separate “payments” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i).  It is further intended that payments hereunder satisfy, to the greatest extent possible, the exemption from the application of Code Section 409A provided under Treasury Regulation Section 1.409A-1(b)(4) (as a “short-term deferral”).  To the extent that any provision of this Agreement is ambiguous as to its compliance with Code Section 409A, the provision will be read in such a manner so that all payments hereunder comply with Code Section 409A.  Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this Agreement is determined to be subject to Code Section 409A, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement in any other calendar year (except for any lifetime or other aggregate limitation applicable to medical expenses), in no event shall any expenses be reimbursed after the last day of the calendar year immediately following the calendar year in which Employee incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. Except as otherwise provided in Section 2(e)(iii), in no event whatsoever will the Company be liable for any additional tax, interest or penalties that may be imposed on Employee under Code Section 409A or any damages for failing to comply with Code Section 409A.
8. Miscellaneous. This Agreement, together with the Surviving Provisions, is the entire agreement between the parties with regard to the subject matter hereof.  Whenever possible, each provision of this Agreement shall be interpreted in a manner as to be effective and valid under applicable law, but if any provision shall be held to be prohibited or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or affecting the remainder of such provision or any of the remaining provisions of this Agreement. Employee acknowledges that there are no other agreements, written, oral or implied, and that Employee may not rely on any prior negotiations, discussions, representations or agreements.  This Agreement may be modified only in writing, and such writing must be signed by both Employee and the Company and recited that it is intended to modify this Agreement.  Within 10 days after the Company’s receipt of substantiation of expenses, the Company shall pay to Employee’s legal counsel up to $5,000 of legal fees incurred by Employee in connection with the negotiation and execution of this Agreement and the General Release.
(signature page follows)

									
	SMRH:227905986.3 		

IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed and delivered as of the dates indicated below.
						
		EMPLOYEE
		
		/s/ Marino Garcia   
Marino Garcia

		Date: September 17, 2018
		COMPANY

/s/ Troy Hamilton   
Troy Hamilton
Chief Executive Officer
Date: _September 17, 2018

									
	SMRH:227905986.3 		

EXHIBIT A

GENERAL RELEASE
1. As a material inducement for Synergy Pharmaceuticals, Inc. (the “Company”) to enter into the Separation Agreement between the Company and Marino Garcia (“Executive”), dated as of [____], 2018 (the “Separation Agreement”) and provide Executive with the payments and benefits set forth in Section 2 of the Separation Agreement (the “Severance Benefits”), Executive knowingly and voluntarily waives and releases all rights and claims, known and unknown, which Executive may have against the Company or any of its respective subsidiaries, affiliates or successors, or any of their current or former officers, directors, managers, employees, agents, insurance carriers, auditors, accountants, attorneys or representatives (collectively, the “Releasees”), including any and all charges, complaints, claims, liabilities, obligations, promises, agreements, contracts, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any kind.  This includes, but is not limited to, any claim to any equity-based or similar type of award or incentive with respect to the Releasees, including any claim for benefits under any stock option or other equity-based incentive plan of the Releasees (or any related agreement, arrangement or understanding with any Releasee); any claim to accelerated vesting or post-termination or severance benefits or payments that are or may become payable under any plan, arrangement, policy and agreement between Executive and the Company, including, without limitation, the Employment Agreement (as defined in the Separation Agreement), each stock option agreement entered into between Executive and the Company and any agreement or policy with the Company under which Executive benefits, and any claims for employment discrimination, harassment, wrongful termination, constructive termination, violation of public policy, breach of any express or implied contract, breach of any implied covenant, fraud, intentional or negligent misrepresentation, emotional distress, defamation, or any other claims, actual or potential, which in any way arise from or are related to Executive’s relationship with the Company, including, without limitation, relating to Executive’s compensation, the termination of the employment relationship, or any other conduct of the Company occurring prior to the execution of this General Release.  This also includes a release of any claims under any federal, state or local laws or regulations, including, but not limited to Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000, et seq.; Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; Age Discrimination in Employment Act, as amended, 29 U.S.C. § 621, et seq.; Civil Rights Act of 1866, and Civil Rights Act of 1991; 42 U.S.C. § 1981, et seq.; Equal Pay Act, as amended, 29 U.S.C. § 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; The Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Executive Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; the Worker Adjustment and Retraining Notification Act, as amended, 29 U.S.C. § 2101 et seq.; the Federal False Claims Act, as amended, 31 U.S.C. §§ 3729 et seq.; the Dodd-Frank Wall Street Reform and Consumer Protection Act; the Sarbanes-Oxley Act of 2002, the New York State Human Rights Law, the New York City Human Rights Law, the New York Labor Law, the New York Wage Theft Prevention Act, the Pennsylvania Human Relations Act,
									
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 Pennsylvania Minimum Wage Act of 1968, Pennsylvania Wage Payment and Collection Law, Pennsylvania Whistleblower Law; and any other federal, state or local laws of similar effect.  Notwithstanding the generality of the foregoing, Executive does not release any claims which Executive may have to the following (collectively, the “Unreleased Claims”): (i) claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law, (ii) Executive’s right to continued participation in the Company’s group benefit plans pursuant to the terms and conditions of COBRA, (iii) Executive’s right to any payments and benefits under the Separation Agreement (including, without limitation, the Severance Benefits), (iv) Executive’s right to vested benefits under the benefit plans of any Releasee, (v) Executive’s right to indemnification as provided in the Separation Agreement, or (vi) Executive’s right to bring to the attention of the Equal Employment Opportunity Commission claims of discrimination; provided, however, that Executive does release Executive’s right to secure any damages for alleged discriminatory treatment.  The matters that are the subject of the releases referred to above (and, for the avoidance of doubt, excluding any Unreleased Claims) shall be referred to collectively as the “Released Matters.”
2. Executive warrants and represents that (a) Executive has not filed or authorized the filing of any complaints, charges or lawsuits against the Company with any governmental agency or court regarding any claims released in this General Release, and that if, unbeknownst to Executive, such a complaint, charge or lawsuit has been filed on Executive’s behalf, Executive will promptly cause it to be withdrawn and dismissed upon obtaining knowledge thereof, (b) Executive has reported all hours worked as of the date of this General Release and has been paid all compensation, wages, bonuses, commissions, and/or benefits to which Executive may be entitled and no other compensation, wages, bonuses, commissions and/or benefits are due to Executive, except as provided in this General Release (including any Unreleased Claim) or the Separation Agreement, (c) Executive has no known workplace injuries or occupational diseases and has been provided and/or has not been denied any leave requested under the Family and Medical Leave Act or any state law counterpart, (d) the execution, delivery and performance of this General Release by Executive does not and will not conflict with, breach, violate or cause a default under any agreement, contract or instrument to which Executive is a party or any judgment, order or decree to which Executive is subject, (e) Executive is executing this General Release voluntarily and without any duress or undue influence on the part or behalf of the Company, with full understanding of the terms and consequences, and (f) upon the execution and delivery of this General Release by the Executive, this General Release will be a valid and binding obligation of Executive, enforceable in accordance with its terms. 
3. Executive understands and acknowledges that:
(a) This General Release constitutes a voluntary waiver of any and all rights and claims Executive has against the Releases, or any of them, as of the date Executive executes this General Release, for claims arising under the Age Discrimination in Employment Act, 29 U.S.C. 621, et seq.

									
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(b) Executive has waived rights or claims pursuant to this General Release and in exchange for consideration, the value of which exceeds payment or remuneration to which Executive was already entitled. 
(c) Executive is hereby advised to consult with an attorney of Executive’s choosing concerning this General Release prior to executing it.
(d) Executive has been afforded a period of forty-five (45) days to consider the terms of this General Release and in the event Executive should decide to execute this General Release in fewer than forty-five (45) days, Executive has done so with the express understanding that Executive has been given and declined the opportunity to consider this General Release for a full forty-five (45) days, and waives the balance of the forty-five (45) day period.
(e) Executive may revoke this General Release at any time during the seven (7) days following the date of execution of this General Release, and this General Release shall not become effective or enforceable until such revocation period has expired.  Executive understands that if Executive does not sign this General Release or Executive signs and subsequently revokes this General Release before it becomes effective, Executive shall not be entitled to any of the Severance Benefits.
* * * * *
			
	EXECUTIVE
	
	 
Marino Garcia

	Date: [INSERT DATE]

									
	SMRH:227905986.3

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