Document:

Class A(2008-4) Terms Document

 Exhibit 4.1 
 CHASE ISSUANCE TRUST 
 as Issuing Entity 
 CLASS A(2008-4) TERMS DOCUMENT 
 dated as of April 2, 2008 
 to 
 AMENDED AND RESTATED 
 CHASESERIES INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
 to 
 THIRD AMENDED AND RESTATED 
 INDENTURE 
 dated as of December 19, 2007 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE
	ARTICLE I Definitions and Other Provisions of General Application	  	
			
	 Section 1.01
	  	Definitions	  	1
	 Section 1.02
	  	Governing Law	  	3
	 Section 1.03
	  	Counterparts	  	4
	 Section 1.04
	  	Ratification of Indenture and Indenture Supplement	  	4
	
	ARTICLE II The Class A(2008-4) Notes
			
	 Section 2.01
	  	Creation and Designation	  	5
	 Section 2.02
	  	Specification of Required Subordinated Amount and Other Terms	  	5
	 Section 2.03
	  	Interest Payment	  	6
	 Section 2.04
	  	Payments of Interest and Principal	  	6
	 Section 2.05
	  	Form of Delivery of Class A(2008-4) Notes; Depository; Denominations.	  	6
	 Section 2.06
	  	Delivery and Payment for the Class A(2008-4) Notes	  	7
	 Section 2.07
	  	Supplemental Indenture	  	7

 THIS CLASS A(2008-4) TERMS DOCUMENT (this “Terms Document”), among the CHASE ISSUANCE TRUST, a
statutory trust created under the laws of the State of Delaware (the “Issuing Entity”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and as collateral agent (the “Collateral Agent”), is made and entered into as of April 2, 2008. 
 Pursuant to this Terms Document, the Issuing Entity and the Indenture Trustee shall create a new Tranche of CHASEseries Class A Notes and shall
specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions of General Application 
 Section 1.01 Definitions For all
purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in
this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other terms used
herein which are defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in
this Terms Document or in any such certificate or other document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the respective meanings given to them
under GAAP. To the extent that the definitions of accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions contained in this Terms Document or
in any such certificate or other document shall control; 
 (4) the words “hereof,” “herein,” “hereunder” and
words of similar import when used in this Terms Document shall refer to this Terms Document as a whole and not to any particular provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to
subsections, Sections, clauses, Schedules and Exhibits in or to this Terms Document unless otherwise specified; the term “including” means “including without limitation”; references to any law or regulation refer to that law or
regulation as amended from time to time and include any successor law or regulation; references to any Person include that Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or
otherwise modified from time to time; 

 (5) in the event that any term or provision contained herein shall conflict with or be inconsistent with
any term or provision contained in the Indenture Supplement, the Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
 (6) each capitalized term defined herein shall relate only to the Class A(2008-4) Notes and no other Tranche of CHASEseries Notes issued by the Issuing
Entity. 
 “Asset Pool Supplement” means the Second Amended and Restated Asset Pool One Supplement to the Indenture, dated
as of December 19, 2007, by and among the Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Beneficiary” means Chase Bank USA, National Association, in its capacity as beneficial owner of the Issuing Entity. 
 “Class A(2008-4) Adverse Event” means the occurrence of any of the following: (a) an Early Amortization Event with respect to the Class A(2008-4) Notes, (b) an Event of Default and acceleration of the Class
A(2008-4) Notes, (c) the Class A Usage of the Class B Required Subordinated Amount for the Class A(2008-4) Notes becomes greater than zero or (d) the Class A Usage of the Class C Required Subordinated Amount for the Class
A(2008-4) Notes becomes greater than zero. 
 “Class A(2008-4) Note” means any Note, substantially in the form set forth in
Exhibit A-1 to the Indenture Supplement, designated therein as a Class A(2008-4) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class A(2008-4) Noteholder” means a Person in whose name a Class A(2008-4) Note is registered in the Note Register. 
 “Class A(2008-4) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2008-4) Notes is paid in full,
(b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article V thereof. 
 “Class A Required Subordinated Amount of Class B Notes” is defined in Section 2.02(a). 
 “Class A
Required Subordinated Amount of Class C Notes” is defined in Section 2.02(b). 
 “Controlled Accumulation
Amount” means $69,166,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation
Amount for any Note Transfer Date with respect to the Class A(2008-4) Notes will be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement. 
  

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 “Indenture” means the Third Amended and Restated Indenture, dated as of
December 19, 2007, between the Issuing Entity and the Indenture Trustee. 
 “Indenture Supplement” means the Amended
and Restated CHASEseries Indenture Supplement, dated as of October 15, 2004, among the Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Initial Dollar Principal Amount” means $830,000,000. 
 “Interest Payment
Date” means May 15, 2008 and the 15th day of each month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and
including the Issuance Date) to but excluding such Interest Payment Date. 
 “Issuance Date” means April 2, 2008.

 “Legal Maturity Date” means March 16, 2015. 
 “Note Interest Rate” means a rate per annum equal to 4.65%. 
 “Paying Agent” means Wells Fargo Bank, National Association. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 3.06 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same
debt as the mutilated, lost, destroyed or stolen Note. 
 “Record Date” means, for any Note Transfer Date, the last Business
Day of the preceding Monthly Period. 
 “Scheduled Principal Payment Date” means March 15, 2013. 
 “Stated Principal Amount” means $830,000,000. 
 Section 1.02 Governing Law THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  

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 Section 1.03 Counterparts This Terms Document may be executed in any number of counterparts,
each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04 Ratification of Indenture and Indenture Supplement As supplemented by this Terms Document, each of the Indenture, the Asset Pool Supplement and the Indenture Supplement is in all respects ratified and confirmed and
the Indenture as so supplemented by the Asset Pool Supplement and the Indenture Supplement as so supplemented by this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

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 ARTICLE II 
 The Class A(2008-4) Notes 
 Section 2.01 Creation and Designation There is hereby created a
Tranche of CHASEseries Class A Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the “CHASEseries Class A(2008-4) Notes.” 
 Section 2.02 Specification of Required Subordinated Amount and Other Terms 
 (a) For the Class A(2008-4) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal
to 6.49718% of (i) prior to the occurrence of a Class A(2008-4) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2008-4) Notes on such date of determination or (ii) on and after the date on which a Class
A(2008-4) Adverse Event shall have occurred, the greater of (1) the Adjusted Outstanding Dollar Principal Amount of the Class A(2008-4) Notes on such date of determination and (2) the Adjusted Outstanding Dollar Principal Amount of the
Class A(2008-4) Notes as of the close of business on the day immediately preceding the date on which such Class A(2008-4) Adverse Event shall have occurred. 
 (b) For the Class A(2008-4) Notes for any date of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 6.49718% of (i) prior to the occurrence of a Class
A(2008-4) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2008-4) Notes on such date or (ii) on and after the date on which a Class A(2008-4) Adverse Event shall have occurred, the greater of (1) the Adjusted
Outstanding Dollar Principal Amount of the Class A(2008-4) Notes on such date of determination and (2) Adjusted Outstanding Dollar Principal Amount of the Class A(2008-4) Notes as of the close of business on the day immediately preceding the
date on which such Class A(2008-4) Adverse Event shall have occurred. 
 (c) The Issuing Entity may change the percentages or the formulas
set forth in either clause (a) or (b) above without the consent of any Noteholder so long as the Issuing Entity has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes that the change in
either of such percentages or formulas, as applicable, will not result in a Ratings Effect with respect to any Outstanding Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuing
Entity Tax Opinion. 
  

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 Section 2.03 Interest Payment 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2008-4) Notes shall be an amount equal to one-twelfth of the
product of (i) the Note Interest Rate, times, (ii) the Outstanding Dollar Principal Amount of the Class A(2008-4) Notes determined as of the close of business on the Interest Payment Date preceding the related Note Transfer Date for
the Class A(2008-4) Notes; provided, however, that for the first Interest Payment Date, the amount of interest due with respect to the Class A(2008-4) Notes shall be $4,609,958.34. Interest on the Class A(2008-4) Notes will be
calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 (b) Pursuant to Section 3.03 of the Indenture
Supplement, on each Note Transfer Date with respect to the Class A(2008-4) Notes, the Indenture Trustee shall deposit into the Class A(2008-4) Interest Funding Sub-Account the portion of CHASEseries Available Finance Charge Collections allocable to
the Class A(2008-4) Notes. 
 Section 2.04 Payments of Interest and Principal 
 (a) Any installment of interest or principal payable on any Class A(2008-4) Note which is punctually paid or duly provided for by the Issuing Entity and
the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2008-4) Note (or one or more Predecessor Notes) is registered on the Record Date, by
wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date
of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record
Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class A(2008-4) Noteholders to receive payments from the Issuing Entity will terminate on the first Business Day following the Class A(2008-4) Termination Date. 
 Section 2.05 Form of Delivery of Class A(2008-4) Notes; Depository; Denominations. 
 (a) The Class A(2008-4) Notes shall be delivered in the form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture,
respectively. 
  

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 (b) The Depository for the Class A(2008-4) Notes shall be The Depository Trust Company, and the Class
A(2008-4) Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class A(2008-4) Notes will be
issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess of $100,000. 
 Section 2.06 Delivery and
Payment for the Class A(2008-4) Notes 
 The Issuing Entity shall execute and deliver the Class A(2008-4) Notes to the Indenture Trustee
for authentication, and the Indenture Trustee shall deliver the Class A(2008-4) Notes when authenticated, each in accordance with Section 3.03 of the Indenture. 
 Section 2.07 Supplemental Indenture 
 The Issuing Entity may enter into a supplemental indenture
with respect to the Class A(2008-4) Notes as provided in Section 9.01 of the Indenture; provided, however, that any supplemental indenture which provides for an additional or alternative form of credit enhancement for the Class A(2008-4) Notes
shall, in addition to the requirements set forth in Section 9.01 of the Indenture, require confirmation from the Note Rating Agencies that have rated any Outstanding Notes of the CHASEseries that such change in credit enhancement will not
result in a Ratings Effect with respect to any Outstanding Notes of the CHASEseries. 
 [END OF ARTICLE II] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to be duly executed, all as of the
day and year first above written. 
  

			
	CHASE ISSUANCE TRUST
		
	By:	 	CHASE BANK USA, NATIONAL
ASSOCIATION,
		 	 as Beneficiary and not in its
 individual capacity

		
	By:	 	 /s/ Keith W. Schuck

	Name:	 	Keith W. Schuck
	Title:	 	President
	
	 WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Indenture Trustee and
 Collateral Agent

		
	By:	 	 /s/ Cheryl C. Zimmerman

	Name:	 	Cheryl C. Zimmerman
	Title:	 	Assistant Vice President

 Chase Issuance Trust 
 CHASEseries Class A(2008-4) Terms Document 
 Signature PageSeparation Agreement

 Exhibit 10.1 
 CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE 
 THIS CONFIDENTIAL SEPARATION AGREEMENT AND
GENERAL RELEASE (this “Severance Agreement”) is made and entered into effective as of this 31st day of March, 2008, by and between Barrier Therapeutics, a Delaware corporation (the “Company”) and Geert Cauwenbergh, Ph.D.
(“Cauwenbergh”) (collectively, “the parties”). 
 WHEREAS, Cauwenbergh has been employed by the Company as its
Chief Executive Officer (“CEO”); and 
 WHEREAS, Cauwenbergh’s employment with the Company is governed by an employment
agreement, dated December 6, 2006 (the “Employment Agreement”); and 
 WHEREAS, at the request of the Board of
Directors of the Company (the “Board”), Cauwenbergh will retire from his position as CEO, effective March 31, 2008 (the “Retirement Date”); and 
 WHEREAS, following the Retirement Date, Cauwenbergh will continue to serve as a member of the Board. 
 NOW, THEREFORE, IT IS HEREBY AGREED by and between Cauwenbergh and the Company as follows: 
 1. Release: 

Cauwenbergh for and in consideration of the commitments set forth in this Severance Agreement, and intending to be legally bound, does hereby
REMISE, RELEASE AND FOREVER DISCHARGE the Company, its affiliates, subsidiaries and parents, and its officers, directors, employees, attorneys, and agents, and its and their respective successors and assigns, heirs, executors, and
administrators (collectively, “Releasees”) of and from all manner of actions and causes of actions, suits, debts, claims and demands whatsoever in law or in equity, which Cauwenbergh ever had, now has or which his heirs, executors or
administrators hereafter may have from the beginning of time, up to and including the date of this Severance Agreement, and particularly, but without limitation of the foregoing general terms, any claims concerning or relating in any way to
Cauwenbergh’s employment relationship with RELEASEES, including, but not limited to, any claims arising under Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e et seq., the Americans with Disabilities Act, 42 U.S.C.
§12101 et seq. (“ADA”), the Age Discrimination in Employment Act, as amended, 29 U.S.C. § 621 et seq. (“ADEA”), the Older Workers Benefit Protection Act, 29 U.S.C. § 621 et seq.
(“OWBPA”), the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq. (“FMLA”), the Employee Retirement Income Security Act, 29 U.S.C. §1001 et seq. (“ERISA”), the New Jersey Law Against
Discrimination, N.J.S.A. 10:5-1 et seq. (“NJLAD”), the Conscientious Employee Protection Act, N.J.S.A. 34:19-1 et seq. (“CEPA”), the New Jersey Family Leave Act, N.J.S.A. 34:11b-1 et
seq., the New Jersey Equal Pay Act, N.J.S.A. 34:11-56.1 et seq., the New Jersey Wage and Hour Law, N.J.S.A. 34:1-56a et seq., the New Jersey Wage Payment Act, N.J.S.A. 34:11-4.2 et seq., the New Jersey
Constitution, the common law of the State of New Jersey including, but not limited to, “Pierce  

 Cauwenbergh Severance Agreement 
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claims,” the New Jersey wage and hour laws, and any and all other federal, state, county, or local common laws, statutes, ordinances, or regulations,
including, without limitation, claims of unlawful discharge, retaliation, fraud, equitable fraud, negligent misrepresentation, breach of contract, promissory estoppel, breach of the implied covenant of good faith and fair dealing, negligent
supervision, quantum meruit, violation of public policy, defamation, physical injury, emotional distress, or claims for additional compensation or benefits arising up until now, and any claims for attorneys’ fees and costs. 
 2. In consideration for Cauwenbergh’s agreements as set forth herein and pursuant to Section 6(c) of the Employment Agreement, and provided
that Cauwenbergh has executed and has not revoked this Severance Agreement pursuant to Paragraph 17(f) below, the Company agrees as follows: 
 (a) The Company will, within thirty (30) days of his Retirement Date, pay to Cauwenbergh an amount equal to 1.5 times his annual base salary (at the rate in effect as of his Retirement Date) plus 1.0 times his target annual cash bonus
for 2008, each in a lump sum, less applicable withholdings. As of his Retirement Date, Cauwenbergh’s annual base salary is $338,000 and his target annual cash bonus for 2008 is $169,000. Thus, the total payment to Cauwenbergh pursuant to this
Paragraph 2(a) is $676,000. 
 (b) The Company will, within thirty (30) days of his Retirement Date, pay to Cauwenbergh a pro rata bonus
payment for the year in which his Retirement Date occurs equal to $42,250, which represents 25% of Cauwenbergh’s target annual cash bonus for 2008. 
 (c) The Company will provide Cauwenbergh with continued coverage under the Company’s group health plan until the earlier of either (1) the end of the twelve month period following his Retirement Date (the
“Severance Period”) or (2) the date on which Cauwenbergh is eligible to receive medical benefits from another employer. The COBRA health care continuation coverage period under section 4980B of the Code will run concurrently with the
Severance Period (or such shorter period as may become applicable under (c)(2) hereof). 
 (d) Cauwenbergh agrees to waive his right to
accelerated vesting of the outstanding stock options, restricted stock and other equity rights held by him as of the Retirement Date under the terms of the Employment Agreement. Instead, because Cauwenbergh will continue to serve as a member of the
Board following his Retirement Date, in accordance with the applicable provisions of the Barrier Therapeutics, Inc. 2002 Equity Compensation Plan and the Barrier Therapeutics, Inc. 2004 Stock Incentive Plan, to the extent any outstanding equity
grants or awards remain unvested or have not yet become exercisable as of the Retirement Date, Cauwenbergh will continue to vest in all outstanding equity grants or awards he holds under such plans as of his Retirement Date so long as he continues
to serve as a member of the Board. In addition, as of the date Cauwenbergh ceases to serve as a member of the Board, all of Cauwenbergh’s outstanding stock options, restricted stock and other equity rights granted to him prior to the Retirement
Date and held by him as of the date he ceases to serve as a member of the Board, if any, which would have vested and become exercisable within the one (1) year period following the date Cauwenbergh ceases to be a member of the Board will become
vested and/or exercisable, as the case may be, as of the date Cauwenbergh ceases to be a member of the Board and Cauwenbergh will have a six (6) month period after the date on which he ceases to serve as a director of the Company in which to
exercise any then outstanding options granted to him prior to his Retirement Date. 
  

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 Cauwenbergh Severance Agreement 
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 (e) The Company will, within thirty (30) days of his Retirement Date, pay to Cauwenbergh any
other amounts earned, accrued and owing but not yet paid under Sections 2, 3 and 4 of the Employment Agreement and any benefits accrued and due under any applicable benefit plans and programs of the Company, whether or not the terms of such
plan or program otherwise require an employee to be employed with the Company on the date of payment, including without limitation, any cash bonus earned and accrued but not yet paid for 2007. Cauwenbergh has received payment of his 2007 annual
bonus contemporaneously with the payment of the 2007 annual bonus to other executive officers of the Company, as determined by the Compensation Committee of the Board. The amounts described in this Paragraph 2(e) will be paid to Cauwenbergh
regardless of whether he executes or revokes this Severance Agreement.In addition, the Company will, within thirty (30) days of his Retirement Date, pay to Cauwenbergh the amount of any reasonable out-of-pocket business expenses properly
incurred but not yet reimbursed under Section 5 of the Employment Agreement. 
 (f) Cauwenbergh will be eligible to receive the same
annual compensation as other non-employee members of the Board for service on the Board for the period commencing April 1, 2008 and thereafter (with the first expected equity grants to occur in June 2009). 
 3. Non-Disparagement: 
 Cauwenbergh
agrees: 
 (a) not to participate or engage in any trade or commercial disparagement of the business or operations of the Company and/or any
other related entity; 
 (b) not to subvert the business or operations of the Company and/or any other related entity; and 
 (c) not to disparage any of the officers, directors or employees of the Company. 
 4. Confidential Information, Invention Assignment, Non-Competition and Non-Solicitation Obligations: 
 Cauwenbergh acknowledges and further agrees that he remains bound by the terms of the Company’s Confidential Information and Invention Assignment
Agreement (as described in Section 12 of the Employment Agreement), his obligations under Section 13 of the Employment Agreement and as member of the Board. Cauwenbergh agrees that he remains subject to the foregoing terms and obligations
regardless of whether he signs or revokes this Severance Agreement. 
  

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 Cauwenbergh Severance Agreement 
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 5. Entire Agreement: 
 Cauwenbergh acknowledges and further agrees that this Severance Agreement supersedes any and all prior agreements or understandings, whether written or
oral, between the parties to the extent this Severance Agreement is inconsistent with the terms or conditions of any such prior agreements or understandings, with the exception of the Company’s Confidential Information and Invention Assignment
Agreement (as described in Section 12 of the Employment Agreement) and Cauwenbergh’s obligations under Section 13 of the Employment Agreement. 
 Cauwenbergh further acknowledges and agrees that except as set forth expressly herein, no promises or representations have been made to him in connection with his separation from the Company, or the terms of this
Severance Agreement. 
 6. No Admission: 
 The parties agree and acknowledge that the Severance Agreement by the Company described herein, and the settlement and termination of any asserted or unasserted claims against the Releasees, are not and will not be
construed to be an admission of any violation of any federal, state or local statute or regulation, or of any duty owed, contractual or otherwise, by any of the Releasees to Cauwenbergh. 
 7. No Reemployment: 
 Cauwenbergh
acknowledges that Releasees have no obligation to employ or re-employ him in the future. Likewise the Company acknowledges that Cauwenbergh has no obligation to take on full-time or part-time employment in the future. 
 8. No Obligations: 
 Each party agrees
and recognizes that should it breach any of the obligations or covenants set forth in this Severance Agreement, the non-breaching party will have no obligation, except as set forth in the Employment Agreement, to provide the other party with the
consideration paid under this Severance Agreement. The parties further agree that the non-breaching party will be entitled to preliminary and permanent injunctive relief, without the necessity of proving actual damages. 
 9. No Conflict: 
 In the event that
any portion of the Severance Agreement conflicts with any portion of the Employment Agreement, the Severance Agreement will control to the extent necessary to resolve the conflict, and all non-conflicting portions of the Employment Agreement will
remain in effect. 
 10. Governing Law: 
 This Severance Agreement and the obligations of the parties hereunder will be construed, interpreted and enforced in accordance with the laws of the State of New Jersey. 
  

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 Cauwenbergh Severance Agreement 
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 11. Severability: 
 The parties agree that if any provision of this Severance Agreement, other than the General Release set forth in Paragraph 1 above, or the application
thereof to any person, place or circumstance will be held by a court of competent jurisdiction to be invalid, unenforceable, or void, the remainder of this Severance Agreement and such provision as applied to other persons, places, and circumstances
will remain in full force and effect. 
 12. Construction: 
 This Severance Agreement has been drafted jointly by all parties and there will be no presumption of construction against any party. The Parties agree
that the terms of all parts of the Severance Agreement will in all cases be construed as they hold, according to their fair meaning, and not strictly for or against any party. 
 13. Counterparts: 
 This Severance
Agreement may be executed in any number of counterparts, and each such counterpart will be deemed to be an original instrument, but all such counterparts together will constitute but one agreement. This Severance Agreement may be executed and
delivered by facsimile. 
 14. Waiver: 
 The waiver by either party of a breach of any provision of this Severance Agreement by the other party must be in writing and will not operate or be construed as a waiver of any subsequent breach by such other party.

 15. Arbitration: 
 The
parties agree that any dispute, controversy or claim arising out of or relating to this Severance Agreement, whether based on contract, tort, statute or other legal or equitable theory (including without limitation, Title VII, Americans with
Disabilities Act, New Jersey Law Against Discrimination, Age Discrimination in Employment Act, Conscientious Employment Protection Act or any claim of fraud, misrepresentation or fraudulent inducement or any question of validity or effect of this
Severance Agreement including this clause) or the breach or termination thereof (a “Dispute”), will be resolved by binding arbitration in accordance with the following provisions; provided, however, that this Paragraph 16
will not limit the right of any party to seek from a court of competent jurisdiction any equitable relief with respect to the Dispute to which such party may otherwise be entitled, including, without limitation, specific performance or injunctive or
other relief, and no party will have any obligation to arbitrate such claim for equitable relief. 
 (a) Any Dispute will be resolved by
binding arbitration to be conducted before JAMS/Endispute, Inc. (“JAMS”) in accordance with the provisions of JAMS’ Comprehensive Arbitration Rules and Procedures as in effect at the time of the arbitration. 
  

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 (b) The arbitration will be held before a single arbitrator appointed by JAMS, in accordance with its
rules, who is not an affiliate of any party to such arbitration and does not have any potential for bias or conflict of interest with respect to any of the parties, directly or indirectly, by virtue of any direct or indirect financial interest,
family relationship or close friendship. 
 (c) Such arbitration will be held at such place as the arbitrator appointed by JAMS may determine
within the State of New Jersey or such other location to which the parties may agree. 
 (d) The arbitrator will have the authority, taking
into account the parties’ desire that any arbitration proceeding hereunder be reasonably expedited and efficient, to permit the parties to conduct discovery. Any such discovery will be (A) guided generally by and be no broader than
permitted under the United States Federal Rules of Civil Procedure, and (B) subject to the arbitrator and the parties entering into a mutually acceptable confidentiality agreement. 
 (e) The arbitrator’s decision and award in any such arbitration will be made and delivered within 120 days of the date on which such arbitration
proceedings commenced. 
 (f) The arbitrator’s decision will be in writing and will be as brief as possible and will include the basis
for the arbitrator’s decision. A record of the arbitration proceeding will be kept. 
 (g) Judgment on the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. 
 (h) The arbitrator will have the power but not the obligation to award
to the party it deems to have prevailed, all or a portion of the costs of the arbitration (including, transcripts, room rental fees and fees and expenses of the arbitrator and JAMS, and the reasonable legal fees, costs and disbursements of the other
party thereto); provided, that if court proceedings to stay litigation or compel arbitration are necessary, the non-prevailing party in such proceedings will pay all reasonable costs, expenses, and attorney’s fees incurred in connection
with such court proceeding. 
 (i) The parties agree to participate in any arbitration in good faith. 
 16. Compliance with Section 409A. 
 This Severance Agreement will be interpreted to avoid any penalty sanctions under section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). If any payment or benefit cannot be provided or made at the time
specified herein without incurring sanctions under section 409A of the Code, then such benefit or payment will be provided in full at the earliest time thereafter when such sanctions will not be imposed. For purposes of section 409A of the Code, all
payments to be made upon a termination of employment under this Severance Agreement may only be made upon Cauwenbergh’s “separation from service” within the meaning of such term under section 409A of the Code, each payment made under
this Severance Agreement will be treated as a separate payment and the right to a series of installment payments under this Severance Agreement is to be treated as a right to a series of separate payments. In no event will Cauwenbergh, directly or
indirectly, designate the calendar year of payment. 
  

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 Cauwenbergh Severance Agreement 
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 Payments under this Agreement are intended to be exempt from section 409A of the Code because they
will be paid within the short-term deferral rule and separation pay plan exception thereto; however, to the extent it is determined to be necessary to postpone the commencement of any severance payments otherwise payable pursuant to this Agreement
as a result of such separation from service to prevent any accelerated or additional tax under section 409A of the Code, then the Company will postpone the commencement of the payment of any such payments or benefits hereunder (without any reduction
in such payments or benefits ultimately paid or provided to Cauwenbergh) that are not otherwise excepted from section 409A of the Code, until the first payroll date that occurs after the date that is six (6) months following Cauwenbergh’s
separation from service with the Company (as defined under section 409A of the Code). If any payments are postponed due to such requirements, such postponed amounts will be paid on the first payroll date that occurs after the date that is six
(6) months following Cauwenbergh’s separation from service with the Company in a lump sum. If Cauwenbergh dies during the postponement period prior to the payment of the postponed amount, the amounts withheld on account of section 409A of
the Code will be paid to the personal representative of Cauwenbergh’s estate within sixty (60) days after the date of Cauwenbergh’s death. 
 All reimbursements and in-kind benefits provided under this Severance Agreement will be made or provided in accordance with the requirements of section 409A of the Code, including, where applicable, the requirement
that (i) any reimbursement is for expenses incurred during Cauwenbergh’s lifetime (or during a shorter period of time specified in this Severance Agreement), (ii) the amount of expenses eligible for reimbursement, or in-kind benefits
provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of
the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 
 17. Certification: 
 Cauwenbergh
certifies and acknowledges as follows: 
 (a) That he has read the terms of this Severance Agreement, and that he understands its terms and
effects, including the fact that he has agreed to RELEASE AND FOREVER DISCHARGE the Company and each and everyone of its affiliated entities from any legal action arising out of his employment relationship with the Company and/or the
termination of that relationship; 
 (b) That he has signed this Severance Agreement voluntarily and knowingly in exchange for the
consideration described herein, which he acknowledges is adequate and satisfactory to him and which he acknowledges is in addition to any other benefits to which he is otherwise entitled; 
  

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 Cauwenbergh Severance Agreement 
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 (c) That he has been and is hereby advised in writing to consult with an attorney prior to signing
this Severance Agreement, and has in fact consulted with an attorney; 
 (d) That he does not waive rights or claims that may arise after the
date this Severance Agreement is executed; 
 (e) That the Company has provided Cauwenbergh with a period of twenty-one (21) calendar
days within which to consider this Severance Agreement, and that he has signed on the date indicated below after concluding that this Severance Agreement is satisfactory to him; and 
 (f) Cauwenbergh acknowledges that he may revoke this Severance Agreement within seven (7) calendar days after execution, and it will not become
effective until the expiration of such seven-day revocation period. In order to be effective, any revocation by Cauwenbergh must be in writing, directed to the Company, Barrier Therapeutics, Inc., 600 College Road East, Suite 3200, Princeton, New
Jersey 08540, Attention: General Counsel; Telecopier: (609) 945-1255, and be received on or before the 7th day following the execution of this Severance Agreement (the “Revocation Period”). In the event of a timely revocation by
Cauwenbergh, this Severance Agreement will be deemed null and void and neither the Company nor Cauwenbergh will have any obligations hereunder. 
 [SIGNATURE PAGE FOLLOWS] 
  

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 Cauwenbergh Severance Agreement 
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 Intending to be legally bound hereby, Cauwenbergh and the Company executed the foregoing Confidential
Separation Agreement and General Release this 31st day of March, 2008. 
  

	
	 /s/ Geert Cauwenbergh

	Geert Cauwenbergh

  

			
	Barrier Therapeutics, Inc.
		
	By:	 	 /s/ Peter Ernster

	Name:	 	Peter Ernster
	Title:	 	Chairman

  

 9

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