Document:

Employment Agreement

 Exhibit 10.4 
 EMPLOYMENT AGREEMENT 
 THIS AGREEMENT (the “Agreement”) is entered into as of
the Effective Date (as defined below) 
 BETWEEN: 

(1)    Azur Pharma Limited, a limited liability company formed under the laws of Ireland (registered number
399192) whose principal place of business is at 45 Fitzwilliam Square, Dublin 2, Ireland; and 

(2)    Fintan Keegan (“Employee”). 

WHEREAS, AzurPharma Limited (“Azur”), Jazz Pharmaceuticals, Inc.
(“Jazz”), Jaguar Merger Sub Inc. (a wholly-owned subsidiary of Azur), and Seamus Mulligan as Indemnitors’ Representative, are entering into an Agreement and Plan of Merger and Reorganization, dated September 19, 2011 (the
“Merger Agreement”), pursuant to which the parties thereto will effect a reorganization and merger, among other things. 
 WHEREAS, as a result of the transactions contemplated by the Merger Agreement (the “Merger”), Jaguar Merger Sub Inc. will merge with and into Jazz, with Jazz as
the surviving entity, and Azur will change its name to Jazz Pharmaceuticals plc (“New Jazz” or “Employer”). 
 WHEREAS, Employee is currently an employee of Azur. 
 WHEREAS, following the Merger, Employer wishes for Employee to continue employment with Employer, and wishes to provide Employee with certain compensation and benefits in return
for his services, on the terms set forth in this Agreement. 
 WHEREAS, together with
the Noncompetition Agreement being executed in connection with the Merger (the “Noncompetition Agreement”), this Agreement will supersede and replace any and all prior agreements, representations, letters, understandings or promises
with anyone, written or oral, with regard to the terms and conditions of Employee’s employment with Employer (or with its predecessor, Azur), including but not limited to Employee’s prior employment agreement with Azur dated august 29,
2006 and the employment amendment dated September 3, 2010, as such agreement or amendment is now or hereafter amended prior to the Closing Date (the “Prior Employment-Related Agreement”). 

WHEREAS, Employee wishes to continue employment with Employer following the Merger and to
provide such services to Employer in return for certain compensation and benefits on the terms set forth in this Agreement. 

  
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 NOW, THEREFORE, in consideration
of the mutual promises and covenants contained herein, it is hereby agreed by and between the parties hereto that Employee as follows: 
  

	 	1.	 EMPLOYMENT BY EMPLOYER. 

1.1        Contingent on Transaction. The employment terms and conditions
set forth in this Agreement shall become effective as of the “Closing Date”, as that term is defined in the Merger Agreement. If the “Closing” (as defined in the Merger Agreement) does not occur, or the Merger
Agreement is terminated in accordance with its terms, this Agreement shall have no effect, and shall not be binding on Employer or Employee. 
 1.2        Appointment. Employer agrees to employ Employee, and Employee hereby accepts such employment, on the terms and conditions set forth herein, effective
as of the Closing Date (the “Employment”). 

1.3        Exclusive Employment. During the continuance of the Employment,
Employee will not (except as a representative of Employer): undertake, nor directly or indirectly be engaged, concerned or interested in, any other business firm, company, concern, enterprise, or society (whether incorporated or not) other than ones
in which Employee is a passive investor; or become an employee, officer, servant or agent of or consultant to any other business, firm, company, concern, enterprise or society (whether incorporated or not). Employee may engage in civic and
not-for-profit activities so long as such activities do not materially interfere with the performance of his duties hereunder. During the continuance of the Employment, Employee will devote his best efforts and substantially all of his business time
and attention to the business of Employer and the Group Companies, except for holiday periods as set forth herein and reasonable periods of illness or other leave periods permitted by the Employer’s general employment policies. 

1.4        Agreement Not to Participate in Competitors. During the
continuance of the Employment, Employee agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by him to be adverse or antagonistic to Employer or any Group Company or any of their
respective businesses or prospects, financial or otherwise, provided, however, that he may own, as a passive investor, securities of any competitor corporation, so long as his direct holdings in any one such corporation shall not in the
aggregate constitute more than five percent (5%) of the voting stock of such corporation. 

1.5        Employee Representation and Warranty. Employee represents and
warrants that Employee is: (a) not prevented by any agreement, arrangement, contract, understanding, court order or otherwise, which in any way directly or indirectly restricts or prohibits Employee from fully performing the duties of the
Employment, or any of them, in accordance with the terms and conditions of this Agreement and (b) not currently and has never been prevented, restricted or disqualified from holding the office of director or secretary to the Board of the
Directors of Employer (the “Board”) or the board of directors of any Group Company. 

1.6        Commencement and Termination Date. Employee’s commencement
date for statutory and all other purposes shall be the date of Employee’s initial commencement of employment with Azur. Subject to any provision herein providing for earlier termination, the Employment shall continue thereafter unless
terminated by not less than three months’ notice given by either party to the other, except as permitted under Section 4.1 and subject to Section 4.2, provided that subject always to the provisions of Section 5 the Employee shall
not be entitled to provide notice within the first nine months after the Effective Date. 

  
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 1.7        Place of Work.
Employee’s primary office location shall be Dublin, Ireland. Employer reserves the right to reasonably require the Employee to perform his duties at other locations from time to time and to require reasonable business travel both throughout and
outside Ireland. Employer reserves the right to change the Employee’s work location from time to time in its discretion, subject always to the provisions of Section 5. Any such change to place of work will not constitute a breach of this
Agreement or give rise to any entitlement to payment to the Employee for disturbance, relocation or otherwise. 

1.8        Title, Duties. Employee’s title as of the Closing Date shall
be Senior Vice President, Finance, Dublin, in which capacity he shall report to Kate Falberg and at all times act in the best interests of Employer and do all in his power to promote, develop and extend the business of Employer and shall faithfully
and diligently perform such duties and exercise such powers consistent therewith as may from time to time be assigned to or vested in him by the Board or Employer. Subject always to the provisions of Section 5, Employer reserves the right to
change Employee’s title and/or to assign to the Employee duties of a different nature either additional to or instead of those referred to above at any time in its sole discretion. 

Subject always to the provisions of Section 5, Employee shall comply with the reasonable and lawful orders of his supervisor, the Board and
any other person authorized by the Board. Subject always to the provisions of Section 5, Employee may be reasonably required in pursuance of his duties to perform services consistent with Employee’s position with Employer not only for
Employer but also for any Group Company, including by way of a secondment arrangement and, without further remuneration (except as otherwise agreed), to accept any such office or position with Employer or any Group Company which is consistent with
his position with Employer, as the Board, Employer and/or any other person authorized by the Board may from time to time reasonably require. Employer may at its sole discretion assign the Employment to any Group Company on the same terms and
conditions as set forth herein. 
 1.9        Working Hours.
Employee shall work such hours as may be required for the proper performance of his duties including at weekends and beyond normal business hours (9am – 5pm Monday through Friday) and shall be deemed to determine his own working hours for
the purposes of section 3(1)(c) of the Organisation of Working Time Act 1997. Any such additional work time shall be unpaid. 
 1.10        Policies and Procedures. The employment relationship between the parties shall also be governed by, and Employee agrees to comply with, the general
policies, employment policies and other practices of Employer (as may be modified from time to time within the discretion of Employer), as well as any applicable regulatory obligations and codes of practice whether or not such obligations are
otherwise legally binding, except that when the terms of this Agreement differ from or are in conflict with these general policies, employment policies or practices, this Agreement shall control. 

  
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	 	2.	 COMPENSATION AND BENEFITS. 

2.1        Salary. Employee’s initial annualized base salary for
services to be rendered hereunder is €200,000, payable monthly pro rata in arrears by equal installments into Employee’s nominated
bank account by electronic credit transfer subject to the deduction of income tax, employee PRSI, if any, the Universal Social Charge and any other applicable deductions/levies (“Base Salary”). The Employee’s Base Salary shall
accrue from day to day. 
 2.2        Participation in Bonus
Plan.  Beginning for calendar year 2012 (for which bonuses, if any, are expected to be payable during the first quarter of 2013), Employee will be entitled to participate in the Cash Bonus Plan to be adopted by New Jazz following the
date of this Agreement (the “Cash Bonus Plan”), pursuant to the terms of the Cash Bonus Plan and with terms that are expected to be substantially similar to the existing Jazz Cash Bonus Plan. Whether or not Employee earns any bonus
will be dependent on actual achievement of applicable individual and corporate performance goals, as determined by Employer, and is subject to (a) Employee’s continued employment with Employer through the date the bonus is paid,
(b) Employee being in good standing through the date the bonus is paid and (c) Employee not having given notice of resignation through the date the bonus is paid. Employee’s target bonus percentage under the Cash Bonus Plan will be
aligned to the target level in the plan for Senior Vice Presidents, which is currently 40% of base salary received during the calendar year, as determined in accordance with the Cash Bonus Plan. 

2.3        Fees.  The remuneration specified at 2.1 above shall be
inclusive of any fees receivable in relation to any office, nomination or appointment as Employer representative which Employee may hold with Employer, any Group Company or any other company or unincorporated body. 

2.4        Equity Award. Subject to approval of the Board (or to a committee
to which the Board may delegate authority concerning the subject matter hereof) and to materially induce Employee to enter into this Agreement and provide services to Employer, as soon as practicable following the Closing Date, and contingent upon
Employee’s continued service through the grant date, Employee will receive an equity award (the “Grant”) relating to ordinary shares, with a nominal value of $0.01 each, in the capital of New Jazz (“New Jazz Ordinary
Shares”), pursuant to the terms of New Jazz’s equity incentive plan (the “Equity Plan”). The terms of the Grant will be substantially similar to those granted to other employees of New Jazz with similar
responsibilities and seniority. The Grant shall be subject to the terms and conditions set forth in a grant notice, grant agreement and the Equity Plan. In the event of a conflict between the terms as set out in this paragraph and the terms of the
Equity Plan, the latter shall prevail. 
 2.5        Pension. This
employment is not pensionable and Employee should make his own pension and life assurance arrangements. Employer provides access for Employee to contribute to a standard Personal Retirement Savings Account (PRSA) by way of deductions of
contributions from Employee’s salary. Employer does not contribute to the PRSA. The PRSA is administered through Hibernian Life & Pensions Limited, One Park Place, Hatch Street, Dublin 2. 

  
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 2.6        Standard Employer
Benefits.  Except as otherwise provided herein, Employee shall be eligible to participate in the standard Employer benefits and compensation plans and practices that may be in effect from time to time, within the discretion of Employer
and as provided by Employer to its employees generally, subject to the terms and conditions of those plans and practices. Following the Closing Date, employee will maintain his existing vacation balance, if any, with Employer. With respect to
accrued sick leave, Employee will retain his existing sick leave balance, if any, for the remainder of the calendar year in which the Closing of the Merger occurs only. Future accrual of vacation and sick leave will be pursuant to a revised Employer
plan to be put in place following the Closing Date. Details of the vacation and sick leave policies will be contained in the employee handbook or such other policy document as Employer may generate. 

2.7        Deductions from Salary.  Employer shall be entitled at
any time during the Employment, or in any event on termination, to deduct from Employee’s remuneration hereunder any monies due from him to Employer including but not limited to any overpayments made to him, outstanding loans, advances, the
cost of repairing any damage or loss to Employer’s property caused by him (and of recovering the same), excess holiday, any sums due from him in respect of sickness benefit and any other monies owed by him to Employer. By signing this
Agreement, Employee hereby consents to any such deductions from remuneration or other sums due by Employer. 

2.8        Changes to Compensation. Subject always to the
provisions of Section 5, Employee’s compensation and benefits may be changed from time to time at the sole discretion of Employer. 
  

	 	3.	 PROPRIETARY INFORMATION OBLIGATIONS. 

3.1        Confidential Information. Employee recognizes that, whilst
performing his duties for Employer, he will have access to and come into contact with trade secrets and confidential information belonging to Employer and to the Group Companies and will obtain personal knowledge of and influence over its or their
customers and/or employees. Employee shall neither during the Employment (except in the proper performance of his duties) nor at any time after the termination thereof (without limit), directly or indirectly use for his own purposes or those of any
other person, company, business entity or other organization whatsoever; or disclose to any person, company, business entity or other organization whatsoever; any trade secrets or confidential information relating or belonging to Employer or the
Group Companies, including but not limited to any such information relating to customers, customer lists or requirements, price lists or pricing structures, sales and marketing information, business plans or dealings, employees or officers, source
codes and computer systems, software, financial information and plans, designs, formulae, prototypes, product lines, services, research activities, any document marked “Confidential” (or with a similar expression), or any information which
Employee has been told is confidential or which he might reasonably expect Employer or a Group Company would regard as confidential, or any information which has been given to Employer or a Group Company in confidence by customers, suppliers or
other persons. The obligations contained in this clause shall not apply to any disclosures required by law, and shall cease to apply to any information or knowledge which may subsequently come into the public domain after the termination of
Employment other than by way of unauthorized disclosure. 

  
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 3.2        Employer
Documents.  Employee shall not at any time during the continuance of his Employment with Employer make any notes or memoranda relating to any matter within the scope of Employer’s business, dealings or affairs otherwise than for
the benefit of Employer or any Group Company. 
 3.3        Public
Statements.  Employee shall not make or communicate any statement (whether written or oral) to any representative of the press, television, radio or other media and shall not write any article for the press or otherwise for publication
on any matter connected with or relating to the business of Employer or any Group Company without obtaining the prior written approval of the Chief Executive Officer of Employer. 

3.4        Intellectual Property.  Any discovery, invention,
process or improvement in procedure made or discovered by Employee (whether alone or jointly with others) while in the employment or service of Employer or any Group Company in connection with or in any way affecting or relating to the businesses of
Employer or any Group Company or capable of being used or adapted for use therein by Employer or any Group Company shall promptly be disclosed to Employer and shall belong to and be the absolute property of Employer or such other Group Company as
Employer may nominate for the purpose. Employee, if and whenever required so to do (whether during or after the termination of the Employment), shall at the expense of Employer (or its nominee) apply for or join in applying for letters patent or
other equivalent protection in Ireland and/or any other part of the world for any discovery, invention, process or improvement as aforesaid and execute and do all instruments and things necessary for vesting the said letters patent or other
equivalent protection when obtained and all right, title and interest to and in the same in Employer (or its nominee) absolutely and as sole beneficial owner or in such other person as may be required. Employee hereby irrevocably appoints Employer
to be its attorney in his name and on his behalf to execute and do any such instruments or things and generally to use his name for the purpose of giving to Employer or its nominees the full benefit of the provisions of this clause. 

3.5        Post-Termination Obligations.  In consideration of the
salary and other benefits payable under this Agreement, Employee covenants with and undertakes to Employer that he will observe the post-termination obligations set out in the Noncompetition Agreement, which agreement constitutes part of this
Agreement. 
 3.6        Retroactive
Effectiveness.  Employee agrees that Sections 3.1 through 3.4 hereof are effective retroactive to his first day of employment with Azur. 
  

	 	4.	 TERMINATION OF EMPLOYMENT. 

4.1        Summary Dismissal. Notwithstanding anything to the contrary
herein, including in Sections 1.2 or 1.6 above, Employer may terminate the Employment summarily without notice, and without pay in lieu of notice, for Cause (as defined in Section 5.1(e)) or if Employee shall at any time do any of the
following, in each case as determined by the Board in its sole discretion: 

(a)        be guilty of dishonesty; 

  
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 (b)        act in any
manner (whether in the course of his duties or otherwise) which is likely to bring him, Employer or any Group Company into disrepute or prejudices the interests of Employer or any Group Company; 

(c)        be or become prohibited by law from being a director;
and 
 (d)        directly or indirectly advise or
participate or act in concert (within the meaning of the City Code on Take-Overs and Mergers) with any person who makes or is considering making any offer for the issued share capital of Employer. 

Any delay by Employer in exercising such right to termination shall not constitute a waiver thereof. 

4.2        Termination on Reaching 65. Subject to earlier termination
pursuant to the terms of this Agreement, the Employment shall be deemed to have terminated automatically and by mutual consent on the date of Employee’s 65th birthday. For the avoidance of doubt, if the Employment terminates pursuant to this
Section, Employer shall pay Employee’s remuneration and benefits up to and including the date of his 65th birthday, and thereafter no amounts shall be due and owing from the Employer to the Employee 

4.3        Return of Company Property. On termination of the Employment,
Employee shall forthwith return to Employer in accordance with its instructions all equipment, correspondence, records, specifications, software, models, notes, reports and other documents and any copies thereof and any other property belonging to
Employer or any Group Company (including but not limited to car, keys, credit cards, computers, equipment and passes) which are in his possession or under his control. Employee shall, if so required by Employer, confirm in writing his compliance
with his obligations under this Section. 
 4.4        Garden
Leave & Pay in Lieu. Employee agrees that Employer may at its absolute discretion: 

(a)        require Employee not to attend at work and/or not to undertake all or
any of his duties during all or any part of any period of notice of termination of employment under Section 1.6 (whether given by Employee or Employer) (the “Garden Leave Period”). Employer shall continue to pay Employee’s
normal remuneration during any such Garden Leave Period provided that Employee complies with the terms of this Agreement; 
 (b)        terminate the Employment at any time with immediate effect by giving written notification that it will make a payment in lieu of notice in the total amount
of Employee’s pro rata base salary (at the rate in force on the Termination Date) for the shortest period of notice with which Employer is entitled to terminate the Employment (or, if shorter, such as where notice already has been given by
either party, for the remainder of the notice period). For the avoidance of doubt, such payment shall be made in a lump sum within 60 days after the effective date of Employee’s termination and shall not include the value of any benefits,
bonus/incentive, commission, or holiday entitlement which would have accrued to Employee had he been employed during any notice period and, further, Employee shall have no entitlement to such payment, or payments (unless and until Employer notifies
the Employee in writing that it has decided in its sole decision to make such payment(s) to him). 

  
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4.5        Suspension.  Employer shall have the right to suspend
Employee pending any investigation into any potential dishonesty, gross misconduct or any other circumstances which may give rise to a right to the Employer to terminate pursuant to Section 4.1 above. 

4.6        Without Prejudice.  The termination of the Employment
shall be without prejudice to any right Employer may have in respect of any breach by Employee of any of the provisions of this Agreement which may have occurred prior to such termination. 

4.7        Employee Representations.  Employee agrees that he will
not at any time after the termination of the Employment represent himself as still having any connection with Employer or any Group Company, save as a former employee for the purpose of communicating with prospective employers or complying with any
applicable statutory requirements. 
 4.8        Resignation from
Directorships.  The Employee shall forthwith resign in writing from all directorships, trusteeships and other offices he may hold from time to time with Employer or any Group Company without compensation for loss of office in the event
of: 
 (a)         the termination of the Employment; or 

(b)        either Employer or Employee serving on the other notice of termination
of the Employment (unless Employer requests that such resignation be delayed until the date of termination of the Employment). 
 In the
event of Employee failing to comply with his obligations under this Section, he hereby irrevocably and unconditionally authorises Employer to appoint a person in his name and on his behalf to sign or execute any documents and/or do all things
necessary or requisite to give effect to such resignations as referred to above. 
  

	 	5.	 SEVERANCE PAYMENTS. 

5.1        Certain Definitions. For purposes of this Section 5, the
following terms are defined as follows: 

(a)        “Affiliate” means any “parent” or
“subsidiary” of Employer as such terms are defined in Rule 405 of the Securities Act of 1933, as amended. 

(b)        “Bonus Multiplier” means the quotient obtained by
dividing the number of full months that the Employee is employed in the year of a Covered Termination by twelve (12). 

(c)        “Bonus Percentage” means the greater of any annual
bonus, as a percentage of annual base salary paid in the year of determination, paid to the Employee in respect of either of the last two calendar years prior to the date of a Covered Termination; provided that no annual bonus paid before
consummation of the Merger shall be considered for this purpose. 

(d)        “Change in Control” means “Change in Control”
as defined in the New Jazz Amended and Restated Change in Control Severance Benefit Plan; provided, however, that for the twelve month period following the Closing Date, the Merger shall constitute a “Change in Control” for purposes of
this Section 5. 

  
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 (e)        “Cause”
means the occurrence of any one or more of the following: (i) the Employee’s unauthorized use or disclosure of the confidential information or trade secrets of the Employer or its Affiliates which use or disclosure causes material harm to
the Employer or an Affiliate; (ii) the Employee’s material breach of any agreement between the Employee and the Employer or an Affiliate which remains uncured for ten (10) days after receiving written notification of the breach from
the Employer; (iii) the Employee’s material failure to comply with the written policies or rules of the Employer or an Affiliate which remains uncured for ten (10) days after receiving written notification of the breach from the
Employer; (iv) the Employee’s conviction of, or plea of “guilty” or “no contest” to, any crime involving fraud, dishonesty, or moral turpitude under the laws of any United States Federal, state, local, or foreign
governmental authority; (v) the Employee’s gross misconduct; (vi) the Employee’s continuing failure to perform assigned duties after receiving written notification of the failure from the Employer; (vii) the Employee’s
failure to cooperate in good faith with a governmental or internal investigation of the Employer, its Affiliates, directors, officers, or employees, if the Employer has requested the Employee’s cooperation; or (viii) any action of Employee
under 4.1 warranting summary dismissal. 

(f)        “Constructive Termination” means a resignation of
employment by Employee after an action or event which constitutes Good Reason is undertaken by Employer or an Affiliate, or occurs; provided, however, that in order for Employee’s resignation to constitute a Constructive Termination,
Employee must (i) provide written notice to Employer’s General Counsel within thirty (30) days after the first occurrence of the event giving rise to Good Reason setting forth the basis for such resignation, (ii) allow Employer
at least thirty (30) days from receipt of such written notice to cure such event, and (iii) if such event is not reasonably cured within such period, resign from all positions Employee then holds with Employer and any Affiliate effective
not later than ninety (90) days after the expiration of the cure period. 

(g)        “Covered Termination” means either (i) an
Involuntary Termination Without Cause, or (ii) a Constructive Termination, in each case within twelve (12) months following a Change in Control. Termination of employment of Employee due to death or disability shall not constitute a
Covered Termination unless a resignation of employment by Employee immediately prior to Employee’s death or disability would have qualified as a Constructive Termination. 

(h)        “Good Reason” means the occurrence of any one or more
of the following actions or events: 
 (i)        a reduction in
Employee’s base salary by more than ten percent (10%) (other than a reduction in conjunction with (x) a Company-wide salary reduction, or (y) a salary reduction involving senior management of Employer which results in salary
reductions for employees similarly-situated to Employee); or 

  
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 (ii)        a relocation of
Employee’s place of employment that increases Employee’s one-way commute by more than thirty-five (35) miles; provided and only if such reduction or relocation is effected without Employee’s consent; or 

(iii)        a substantial reduction in Employee’s duties or responsibilities
(and not simply a change in reporting relationships) in effect prior to the effective date of the Change in Control; provided, however, that it shall not constitute “Good Reason” if, following the effective date of the Change in
Control, either (x) Employer is retained as a separate legal entity or business unit and Employee holds the same position in such legal entity or business unit as Employee held before such effective date, (y) Employee holds a position with
duties and responsibilities comparable (though not necessarily identical, in view of the relative sizes of Employer and the entity involved in the Change in Control) to the duties and responsibilities of Employee prior to the effective date of the
Change in Control; or 
 (iv)        a reduction in the Employee’s
title (e.g., the Employee no longer has a “Vice President” or “Senior Vice President”, etc. title). Employee’s signature of this Agreement shall be confirmation that his duties, title and compensation payable pursuant
to this Agreement shall not constitute “Good Reason.” 

(i)        “Involuntary Termination Without Cause” means a
termination by the Employer of the Employee’s employment relationship with the Employer or an Affiliate for any reason other than for Cause and other than as a result of death or disability. 

 

	 	5.2	 Covered Termination. 

 (a)        Amount of Benefits. In the event of the Employee’s Covered Termination, and subject to the requirements set forth in Section 5.2(b), the
Employee shall be entitled to receive the benefits provided by this Section 5.2. 

(i)        Cash Severance Benefits. The Employer shall make a lump sum cash
severance payment to the Employee in an amount equal to the sum of (1) the Employee’s base salary at the rate in effect during the last regularly scheduled payroll period immediately preceding the date of the Employee’s Covered
Termination (without giving effect to any reduction in base salary that would constitute grounds for Constructive Termination) (the “Severance Base”) multiplied by 125% and (2) the product of the Severance Base multiplied by the Bonus
Percentage multiplied by 125% and (3) the product of the Severance Base multiplied by the Bonus Percentage multiplied by the Bonus Multiplier. Notwithstanding the foregoing, during the twelve month period following the Closing Date, in lieu of
the bonus-related cash severance payment described in the first sentence of this Section 5.2(a)(i) at (2) and (3), upon his Covered Termination, Employee shall instead be entitled to receive an amount equal to the sum of (x) the
product of the Severance Base multiplied by 40% multiplied by 125% and (y) the product of the Severance Base multiplied by 40% multiplied by the quotient obtained by dividing the number of full months during such twelve month period that
Employee is employed by Employer by twelve (12). Such severance payment shall be paid in a single lump sum payment on the sixtieth (60th) day following the Employee’s Covered Termination. 

  
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 (ii) Health Continuation Coverage. 

(1) Provided that the Employee is eligible for, and timely elects continued coverage under New Jazz health plan and
following the Covered Termination, the Employer shall pay to the applicable insurers, as and when due, the applicable premiums (inclusive of premiums for the Employee’s participating dependents for such health, care plan) for such plan coverage
for a period of up to fifteen (15) months following the date of the Covered Termination (or such earlier date if the Employee is no longer eligible for coverage). The provision of these benefits is subject to insurance being obtained on normal
terms and subject to medical and other underwriting requirements and other terms and conditions. 
 (2) The
Employer’s obligations under this Section 5.2(a)(ii) shall terminate, and no such premium payments (or any other payments for health coverage by the Employer) shall be made by the Employer, as of the earliest of the Employee’s death,
the effective date of the Employee’s coverage by a health insurance plan of a subsequent employer and the date the Employee or his dependents cease to be eligible for New Jazz health plan coverage. The Employee shall be required to notify the
Employer immediately if the Employee becomes covered by a health insurance plan of a subsequent employer or if the Employee or his participating dependents otherwise cease to be eligible for New Jazz health plan coverage during the period provided
in this Section 5.2(a)(ii). Upon the conclusion of such period of insurance premium payments made by the Employer, the Employee will be responsible for the entire payment of premiums required under New Jazz health plan for the remaining
duration of the period. 
 (iii) Equity Award Vesting Acceleration. The vesting and exercisability of (and
the lapsing of any unvested share repurchase rights in respect of) all outstanding compensatory equity awards covering New Jazz Ordinary Shares that are held by the Employee on the date of such Covered Termination shall be accelerated in full,
effective on the 60th day following the Covered Termination. In order to give
effect to the foregoing provision, notwithstanding anything to the contrary set forth in the Employee’s equity award agreements or the rules of the plan under which such awards have been granted, following the Employee’s Covered
Termination, the Employee’s options and equity awards shall not terminate with respect to any unvested portion subject to such awards that may be subject to acceleration hereunder until the day after the 60th day following the Covered Termination (provided that, in respect of any stock option,
this is no later then the expiration of the term of such option and further provided that, the vested portions of any stock option shall terminate pursuant to their normal terms). With respect to any compensatory stock option held by the Employee
that is subject to accelerated vesting hereunder, such option may not be exercised by the Employee in respect of the accelerated shares prior to the 60th day after the Covered Termination (provided that, in respect of any stock option, this is no later then the expiration of the
term of such option). Notwithstanding the foregoing, if the Employee’s service is terminated for any reason during the twelve month period following the closing of the Merger, equity awards granted during such period shall be excluded from the
vesting acceleration benefit described in this Section 5.2(a)(iii) provided, however, that this sentence shall not apply in the case of a Change in Control (other than the Merger) after the closing of the Merger. 

  
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 (b) Limitations on Benefits. 

(i) Release. In order to be eligible to receive benefits under Section 5.2(a), the Employee must execute a
general waiver and release in a form consistent with those required of other employees of Jazz at a similar of seniority to the Employee and return such release to Employer within the time period specified therein, but in no event more than
forty-five (45) days following the date of the Covered Termination, and such release must become effective in accordance with its terms but in all cases not later than the sixtieth (60th) day following the Covered Termination. No release
shall require the Employee to forego any unpaid salary, any accrued but unpaid vacation pay or any benefits payable pursuant to this Agreement. The Employer, in its sole discretion, may modify the form of the required release to comply with
applicable law and shall determine the form of the required release. 
 (ii) Certain Reductions. The
Employer shall reduce the Employee’s severance benefits provided under this Agreement, to the greatest extent possible, by any other severance benefits whether contractual or statutory, pay in lieu of notice, or other similar benefits payable
to the Employee by the Employer that become payable in connection with the Employee’s termination of employment, including but not limited to those payable pursuant to (1) any applicable legal requirement or (2) any Employer policy or
practice providing for the Employee to remain on the payroll for a limited period of time after being given notice of the termination of the Employee’s employment. Save for those payments which may be payable under Clause 4.4 of this Agreement,
the benefits provided under Section 5.2 of this Agreement are intended to satisfy any and all statutory obligations and other contractual obligations of the Employer that may arise out of Employee’s termination of employment, and the
Employer shall so construe and implement the terms of Section 5.2 of this Agreement. In the Employer’s sole discretion, such reductions shall be applied on a retroactive basis, with severance benefits previously paid being re-characterized
as payments pursuant to the Employer’s statutory or other contractual obligations. 
 (iii) Parachute
Payments. If any payment or benefit to which Employee may be entitled in connection with a change in control (the “Payments”, which shall include, without limitation, the vesting of an option or other non-cash benefit or
property) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended and the rules and regulations thereunder and, (ii) but for this sentence, be subject to
the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payments shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payments
that would result in no portion of the Payments being subject to the Excise Tax, or (y) the largest portion, up to and including the total, of the Payments, whichever amount, after taking into account all applicable federal, state and local
employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Employee’s receipt, on an after-tax basis, of the greater amount of the Payments notwithstanding that all or some portion
of the Payments may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payments equal the Reduced Amount, reduction shall occur in the manner that results in the
greatest economic benefit for Employee. Determination of whether Payments would result in the application of the Excise Tax, and the amount of any reduction that is necessary so that the Payments equal the Reduced Amount shall be made, at
Employer’s expense, by the independent 

  
 12 

 
accounting firm employed by Employer prior to the date on which Employee’s right to any Payments are triggered (if requested at that time by Employee or Employer) or such other time as
reasonably requested by Employee or Employer. 
 (iv) Mitigation. Except as otherwise specifically provided
herein, the Employee shall not be required to mitigate damages or the amount of any payment provided under Section 5.2(a) of this Agreement by seeking other employment or otherwise. Similarly, no amount of any payment provided for under
Section 5.2(a) of this Agreement shall be reduced by any compensation earned by the Employee as a result of employment by another employer or any retirement benefits received by such Employee after the date of the Employee’s termination of
employment with the Employer, except for health continuation coverage provided pursuant to Section 5.2(a)(ii). 

(c)        Tax Withholding. All payments under this Agreement will be subject to
all applicable withholding of the Employer, including, without limitation, obligations to withhold for federal, state and local income and employment taxes. 
  

	 	6.	 GRIEVANCE PROCEDURE. 

6.1        Grievance. If Employee has any grievance relating to the
Employment, he should raise it with the Chief Executive Officer of Employer and thereafter (if the matter is not resolved) with the Board. In such a case, the Board will deal with the matter by discussion and majority decision of those present and
voting (but without Employee being entitled to vote on that issue). 
  

	 	7.	 DISCIPLINARY PROCEDURE. 

7.1        Disciplinary. Employer requires a good standard of discipline and
conduct from Employee together with satisfactory standards of work. Full details of the Employer’s Disciplinary Procedure will be contained in the employee handbook or in such other policy document as Employer may generate. 

 

	 	8.	 DATA PROTECTION. 

8.1        Data. All personal information which Employer holds about
Employee is protected by data protection laws. Employer take its responsibilities under these laws seriously and holds some or all of the following personal data about Employee: address, date of birth, marital status, educational or previous
employment background, history and details of current position, CVs, applications and interview records, references, performance ratings or reviews, bank details, salary, bonuses, records of internet or email usage, CCTV images, records of
disciplinary investigations/meetings or grievances, stock option, pension and other insurance documentation, payroll details and other related data. This information is required for the management and administration of the Employment and to protect
Employee’s rights under various employment laws. For these purposes it may from time to time be necessary to disclose Employee’s personal information to third parties, including (but not limited to) payroll processors, pension
brokers/trustees, or insurers. It may also be necessary to disclose 

  
 13 

 
information in order to comply with any legal or regulatory obligations. Employer takes all reasonable steps as required by law to ensure the safety, privacy and integrity of Employee’s
personal information. Employer may need to share personal data including sensitive personal data with other related entities which are based abroad. This may involve a transfer of data, including Employee’s personal sensitive data to a country
which may not have the same data protection laws as Ireland. By signing this Agreement, Employee hereby consents to Employer holding, processing, transferring or disclosing such personal data. 

 

	 	9.	 GENERAL PROVISIONS. 

9.1        Notices. Any notices provided hereunder must be in writing and
shall be deemed effective upon the earlier of personal delivery (including personal delivery by fax) or the next day after sending by overnight carrier, to Employer at its primary office location and to Employee at his address as listed on the
Employer’s payroll records. 

9.2        Confidentiality.  Employee shall hold the provisions of
this Agreement in strictest confidence and will not publicize or disclose such provisions in any manner whatsoever; provided, however, that Employee may disclose this Agreement: (a) to Employee’s immediate family; (b) in confidence to
his attorneys, accountants, auditors, tax preparers, and financial advisors; and (c) insofar as such disclosure may be necessary to enforce its terms or as otherwise permitted or required by applicable law. In particular, Employee agrees not to
disclose the terms of this Agreement to any current or former employee of the Employer or any of the Group Companies, save that Seamus Mulligan, David Brabazon, Eunan Maguire, Fintan Keegan and/or Mike Kelly may disclose and/or discuss the terms of
this Agreement with each other. 

9.3        Severability.  Whenever possible, each provision of
this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction to the extent possible in keeping with the
intent of the parties and applicable law. 

9.4        Waiver.  To be effective any waiver of a breach of any
provision of this Agreement shall be in writing and it shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other provision of this Agreement. 

9.5        Complete Agreement. This Agreement, together with the
Noncompetition Agreement, constitutes and forms the complete, final, and exclusive embodiment of the entire agreement between Employee and Employer concerning Employee’s employment with Employer (or with its predecessor, Azur) and shall
supersede and replace any and all prior agreements, representations, letters, understandings or promises with anyone, written or oral, with regard to its subject matter, including the Prior Employment-Related Agreement. This Agreement is entered
into without reliance on any promise or representation other than those expressly contained herein, and the terms hereof cannot be modified or amended except in a written agreement signed by Employee and an officer of Employer and duly authorized by
the Board. 

  
 14 

 9.6        Construction and
Counterparts. This Agreement is to be read and construed consistently with the Merger Agreement and the Noncompetition Agreement, with the provisions of each considered as cumulative and not exclusive, and with maximum effect being given to
each. For purposes of construction of this Agreement, any ambiguity shall not be construed against either party as the drafter. This Agreement may be executed in separate counterparts, any one of which need not contain signatures of more than one
party, but all of which taken together will constitute one and the same Agreement. Signatures transmitted via facsimile or by PDF shall be deemed equivalent to original signatures. 

9.7        Headings. The headings of the sections hereof are inserted for
convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 

9.8        Successors and Assigns. This Agreement is intended to bind and
inure to the benefit of and be enforceable by Employee and Employer, and their respective successors, assigns, heirs, executors and administrators, except that Employee may not assign any of his duties hereunder and he may not assign any of his
rights hereunder without the written consent of Employer. 

9.9        Choice of Law. All questions concerning the construction,
validity and interpretation of this Agreement will be governed by the law of Ireland without regard to conflicts of law principles. 
 9.10        Definitions. In this Agreement, the following words and expressions shall have the meanings set out below: 

“Ireland” means the Republic of Ireland. 
 A
“Group Company” includes any firm, company, corporation or other organization: 
  

	 	•	 	 which is directly or indirectly controlled by Employer (including Jazz and AzurPharma Inc.); or 

 

	 	•	 	 which directly or indirectly controls Employer; or 

  

	 	•	 	 which is directly or indirectly controlled by a third party who also directly or indirectly controls Employer; or 

 

	 	•	 	 of which Employer or any other associated company owns or has a beneficial interest in 20% or more of the issued share capital or 20% or more of its capital
assets; or 

  

	 	•	 	 which is the successor in title or assign of the firms, companies, corporations or other organizations referred to above. 

“Termination Date” shall mean the date upon which the Employee’s employment with the Employer terminates, and for the
avoidance of doubt, does not mean the date on which the greater of contractual or statutory notice would have expired had it been given unless otherwise stated. 

  
 15 

 IN WITNESS WHEREOF,
the parties have executed this Agreement effective as of the day and year first above written. 
  

			
	AZUR PHARMA LIMITED
		
	 By:
	 	 /s/ James A.
Skehan

 
			
		
	 Print Name:
	 	   James A.
Skehan

 
			
		
	 Title:
	 	   Company Secretary

		
	 Date:
	 	   September 19, 2011

  

			
	 UNDERSTOOD and AGREED to this
 18 day of September, 2011.

		
	 By:
	 	   /s/ Fintan
Keegan

			
		
	 Print Name:
	 	   Fintan Keegan

 Employment AgreementNoncompetition Agreement

 Exhibit 10.5 
 NONCOMPETITION AGREEMENT 
 THIS
NONCOMPETITION AGREEMENT (the “Noncompetition Agreement”) is entered into as of the Effective Date (as defined below) by and among Fintan Keegan, an individual
(“Employee”), in favor of, and for the benefit of: Azur Pharma Limited, a limited company formed under the laws of Ireland (registered number 399192) (which as a result of the Transactions shall become Jazz Pharmaceuticals plc, a
public limited company incorporated in Ireland) whose principal place of business is at 45 Fitzwilliam Square, Dublin 2, Ireland (“New Jazz”), together with its subsidiaries Jazz Pharmaceuticals, Inc. (“Jazz”) and
Azur Pharma Inc. Certain capitalized terms used in this Noncompetition Agreement are defined in Section 17. 

RECITALS 
 A.        Azur Pharma Limited (“Azur”), Jazz, Jaguar Merger Sub Inc. (a wholly-owned subsidiary of Azur), and Seamus Mulligan, as
Indemnitors’ Representative, are entering into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”), pursuant to which the parties thereto will effect a reorganization and merger, among other things. As a
result of the transactions contemplated by the Merger Agreement (the “Transactions”), Jaguar Merger Sub Inc. will merge with and into Jazz, with Jazz as the surviving entity, and Azur will change its name to Jazz Pharmaceuticals
plc. This Noncompetition Agreement will be effective as of the Closing Date of the Merger Agreement, as defined therein (the “Effective Date”). If the Closing (as defined in the Merger Agreement) does not occur, or the Merger
Agreement is terminated in accordance with its terms, this Noncompetition Agreement shall have no effect, and shall not be binding on New Jazz or Employee. 
 B.        By virtue of Employee’s service as a key employee and shareholder of Azur prior to the Closing Date, Employee has gained access to extensive
and valuable goodwill, knowledge, and Confidential Information concerning Azur’s business. Employee is entering into this Noncompetition Agreement in connection with and as a condition to the Merger Agreement, in order to induce Azur and Jazz
to consummate the Transactions, to enable Azur and Jazz to secure more fully the benefits of the Merger Agreement, and to provide Employee with the benefits to which Employee shall become entitled to receive pursuant to the Transactions as a
shareholder of Azur and as an employee of New Jazz following the Closing Date. 

C.        New Jazz and Employee are executing an Employment Agreement (the
“Employment Agreement”) contemporaneously with the execution and delivery of this Noncompetition Agreement. Pursuant to the Employment Agreement, Employee will continue as a key employee of New Jazz following the Transactions and
will accordingly have access to extensive and valuable goodwill, knowledge and Confidential Information concerning the businesses of New Jazz and of the Group Companies (including New Jazz’s wholly-owned subsidiary, Jazz) that New Jazz is
endeavoring to protect. 
 D.        The provisions of this
Noncompetition Agreement are: (i) reasonable in all the circumstances given the value being obtained by the Employee as a result of the Transactions and given Employee’s access to valuable goodwill, knowledge and Confidential Information
by virtue of his continued service as a key employee of New Jazz following the Transactions; 

  
 1. 

 
(ii) directly linked to the Transactions and Employee’s continued employment with New Jazz; and (iii) necessary for the effective implementation of the Transactions so that the
value of the business being acquired can be secured and protected. 

E.        Although New Jazz is located in Ireland, New Jazz’s
products are marketed and sold in and throughout the United States, and New Jazz’s marketing and sales operations are based in the United States. 
 F.        Employee acknowledges good and valuable consideration for this Agreement in the nature of increased stock value and potential higher liquidity as a
result of the Transactions. 
 AGREEMENT 

In order to induce Azur and Jazz to consummate the Transactions contemplated by the Merger Agreement, and in order to
protect New Jazz’s legitimate business interests such as trade secrets, Confidential Information and goodwill following the Transactions, and for other good and valuable consideration, Employee agrees as follows: 

1.         Restriction on Competition. Employee agrees that during
the Noncompetition Period, without the prior written consent of the Board of Directors of New Jazz, Employee shall not, and shall not permit any of his Affiliates to: 

(a)        engage directly or indirectly in Competition in the Restricted
Territory; or 
 (b)        directly or indirectly be or become
an officer, director, employee, owner, co-owner, Affiliate, partner, promoter, agent, representative, consultant, advisor, manager, licensor, sublicensor, licensee or sublicensee of, or acquire or hold (of record, beneficially or otherwise) any
direct or indirect interest in, any Person that engages directly or indirectly in Competition in any Restricted Territory; 
 provided,
however, that Employee may, without violating this Section 1: 

(i)        own, as a passive investor, securities of any competitor
corporation, so long as his direct holdings in any one such corporation shall not in the aggregate constitute more than five percent (5%) of the voting stock of such corporation and provided that neither Employee nor any Affiliate of Employee
is otherwise associated directly or indirectly with such corporation or with any Affiliate of such corporation; and/or 
 (ii)        become employed by any Person which is engaged in the development, manufacture, promotion, sale, distribution, licensing or sublicensing, of any
Competing Product or Additional Term Competing Product provided that during the Noncompetition Period he is not directly or indirectly involved in the development, manufacture, promotion, sale, distribution, licensing or sublicensing, of any
Competing Product or Additional Term Competing Product (as applicable) and may also own securities of the said employer or its affiliate, so long as his direct holdings in any one such corporation shall not in the aggregate constitute more than one
percent (1%) of the voting stock of such corporation; and/or 

  
 2. 

 (iii)        be engaged in
the business of Circ Pharma Limited and its wholly owned subsidiaries (“Circ”) (which for the purposes of this provision shall be deemed to include Tramadol) as it is constituted as of the Effective Date, to the extent that
such business does not involve for the applicable Noncompetition Period the development, manufacture, promotion, sale, distribution, licensing or sub-licensing of (i) any Additional Term Competing Product, or (ii) a Material New Jazz
Product or Product Candidate, provided that the restriction with regard to a Material New Jazz Product or Product Candidate shall not apply if Circ has commenced activities with respect to a product or product candidate that is not at the date of
such commencement a Material New Jazz Product or Product Candidate, and further provided that if Jazz acquires or licenses rights to a product from a third party which thereby becomes a Material New Jazz Product or Product Candidate, the relevant
date for making the determination as to whether or not Circ has commenced the applicable activities shall be the date of the acquisition or license of such Material New Jazz Product or Product Candidate by Jazz. 

2.        No Hiring or Solicitation of
Employees.  Employee agrees that, during the Nonsolicitation Period, without the prior written consent of the Chief Executive Officer of New Jazz, Employee shall not, and shall not permit any of his Affiliates to: (a) hire, accept
into employment, or otherwise engage or use the services of, any Specified Employee, or (b) directly or indirectly, personally or through others, encourage, induce, attempt to induce, solicit or attempt to solicit (on Employee’s own behalf
or on behalf of any other Person) any Specified Employee to leave his or her employment with New Jazz or any Group Company. 
 3.        Representations and Warranties.  Employee represents and warrants that: (a) Employee has full power and capacity to execute
and deliver, and to perform all of his obligations under, this Noncompetition Agreement; and (b) neither the execution and delivery of this Noncompetition Agreement nor the performance of this Noncompetition Agreement will result directly or
indirectly in a violation or breach of any agreement or obligation by which the Employee or any of Employee’s Affiliates is or may be bound. 
 4.        Specific Performance.  Employee agrees that, in the event of any breach or threatened breach by the Employee of any covenant or
obligation contained in this Noncompetition Agreement, New Jazz shall be entitled (in addition to any other remedy that may be available, including monetary damages) to seek (a) a decree or order of specific performance to enforce the
observance and performance of such covenant or obligation, and (b) an injunction restraining such breach or threatened breach. 
 5.        Non-Exclusivity.  The rights and remedies of New Jazz under this Noncompetition Agreement are not exclusive of or limited by any
other rights or remedies which it may have, whether at law, in equity, by contract or otherwise, all of which shall be cumulative (and not alternative). Without limiting the generality of the foregoing, the rights and remedies of New Jazz, and the
obligations and liabilities of the Employee, under this Noncompetition Agreement, are in addition to their respective rights, remedies, obligations and liabilities under the law of unfair competition, under laws relating to misappropriation of trade
secrets, under other laws and common law requirements and under all applicable rules and regulations. Nothing in this Noncompetition Agreement shall limit any of the Employee’s obligations, or the rights or remedies of New Jazz, under the
Merger Agreement or the Employment Agreement; and nothing in the Merger Agreement or the Employment Agreement shall limit any of the 

  
 3. 

 
Employee’s obligations, or any of the rights or remedies of New Jazz under this Noncompetition Agreement. No breach on the part of New Jazz of any covenant or obligation contained in the
Merger Agreement or the Employment Agreement or any other agreement shall limit or otherwise affect any right or remedy of New Jazz under this Noncompetition Agreement. 

6.        Severability.  Employee hereby acknowledges and agrees
that each clause, term or provision in this Agreement, and every part thereof, are entirely separate and independent (notwithstanding that they may be contained in the same clause, sub-clause, paragraph, sub-paragraph, sentence or phrase) and that
they are independent, separate and severable and enforceable accordingly and that the duration, extent and application of each such clause, term and/or provision, and every part thereof, is no greater than is reasonable and necessary for the
protection of the legitimate interest of New Jazz. If any such clause, term and/or provision or part thereof of this Noncompetition Agreement is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, that
invalidity or unenforceability will not affect the other clauses, terms and/or provisions or part thereof of this Agreement which will remain in full force and effect. If any clause, term and/or provision or part thereof of this Agreement is found
to be invalid or unenforceable but would be valid or enforceable if some part of the clause, term and/or provision were deleted and/or the period thereof was reduced and/or the territorial area reduced/modified, the clause, term and/or provision or
part thereof in question will apply with whatever modification is necessary to make it valid. If the final judgment of a court or administrative body of competent jurisdiction declares that any clause, term and/or provision hereof is invalid or
unenforceable, the parties hereto agree that the court or administrative body making such determination shall have the power to limit the clause, term and/or provision, to delete specific words or phrases, or to replace any invalid or unenforceable
term, provision and/or or clause or part thereof with a clause, term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable clause, term and/or provision and this Noncompetition
Agreement shall be enforceable as so modified. In the event such court or administrative body does not exercise the power granted to it in the prior sentence, the parties hereto agree to replace such invalid or unenforceable term or provision with a
valid and enforceable term or provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid or unenforceable term. 

7.        Governing Law; Venue. 

(a)        This Noncompetition Agreement shall be construed in accordance
with, and governed in all respects by, the laws of the State of Pennsylvania (without giving effect to principles of conflicts of laws). 
 (b)        Any legal action or other legal proceeding relating to this Noncompetition Agreement or the enforcement of any provision of this Noncompetition
Agreement may be brought or otherwise commenced in any state or federal court located in the County of Philadelphia County, Pennsylvania. Employee: 
 (i)        expressly and irrevocably consents and submits to the jurisdiction of each state and federal court located in Philadelphia County, Pennsylvania
(and each appellate court located in the State of Pennsylvania), in connection with any such legal proceeding; 

  
 4. 

 (ii)        agrees that
service of any process, summons, notice or document by courier or registered mail addressed to him at the address set forth on the signature page of this Noncompetition Agreement or such other address as he may specify from time to time shall
constitute effective service of such process, summons, notice or document for purposes of any such legal proceeding; 
 (iii)        agrees that each state and federal court located in Philadelphia County, Pennsylvania shall be deemed to be a convenient forum; and 

(iv)        agrees not to assert (by way of motion, as a defense or
otherwise), in any such legal proceeding commenced in any state or federal court located in Philadelphia County, Pennsylvania, any claim that Employee is not subject personally to the jurisdiction of such court, that such legal proceeding has been
brought in an inconvenient forum, that the venue of such proceeding is improper or that this Noncompetition Agreement or the subject matter of this Noncompetition Agreement may not be enforced in or by such court. 

(c)        Nothing contained in this Section 7 shall be deemed to
limit or otherwise affect the right of New Jazz to commence any legal proceeding or otherwise proceed against Employee in any other forum or jurisdiction. 
 (d)        EMPLOYEE IRREVOCABLY WAIVES THE RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LEGAL PROCEEDING RELATING TO THIS NONCOMPETITION AGREEMENT OR THE
ENFORCEMENT OF ANY PROVISION OF THIS NONCOMPETITION AGREEMENT. 

8.        Waiver.  No failure on the part of New Jazz to
exercise any power, right, privilege or remedy under this Noncompetition Agreement, and no delay on the part of New Jazz in exercising any power, right, privilege or remedy under this Noncompetition Agreement, shall operate as a waiver of such
power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. New Jazz shall not be deemed
to have waived any claim arising out of this Noncompetition Agreement, or any power, right, privilege or remedy under this Noncompetition Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a
written instrument duly executed and delivered on behalf of New Jazz; and any such waiver shall not be applicable or have any effect except in the specific instance in which it is given. 

9.        Successors and Assigns.  New Jazz may freely
assign all of its rights under this Noncompetition Agreement, at any time, to any successor in interest of New Jazz without obtaining the consent or approval of the Employee or of any other Person. This Noncompetition Agreement shall be binding upon
the Employee and shall inure to the benefit of New Jazz and its permitted assignee. 

10.        Attorneys’ Fees.  If any legal action or
other legal proceeding relating to this Noncompetition Agreement or the enforcement of any provision of this Noncompetition Agreement is brought against the Employee, the prevailing party shall be entitled to recover attorneys’ fees, costs and
disbursements (in addition to any other relief to which the prevailing party may be entitled). 

  
 5. 

11.        Headings.  The headings contained in this
Noncompetition Agreement are for convenience of reference only, shall not be deemed to be a part of this Noncompetition Agreement and shall not be referred to in connection with the construction or interpretation of this Noncompetition Agreement.

 12.        Construction.   Whenever required by the
context, the singular number shall include the plural, and vice versa; the masculine gender shall include the feminine and neuter genders; and the neuter gender shall include the masculine and feminine genders. Any rule of construction to the effect
that ambiguities are to be resolved against the drafting party shall not be applied in the construction or interpretation of this Noncompetition Agreement. As used in this Noncompetition Agreement, the words “include” and
“including,” and variations thereof, shall not be deemed to be terms of limitation, and shall be deemed to be followed by the words “without limitation.” Except as otherwise indicated in this Noncompetition Agreement, all
references in this Noncompetition Agreement to “Sections” are intended to refer to Sections of this Noncompetition Agreement. 
 13.        Survival of Obligations.  Except as specifically provided herein, the obligations of the Employee under this Noncompetition
Agreement shall survive the expiration of the Noncompetition Period. The expiration of the Noncompetition Period shall not operate to relieve the Employee of any obligation or liability arising from any prior breach by the Employee of any provision
of this Noncompetition Agreement. 
 14.        Obligations
Absolute.  Employee’s obligations under this Noncompetition Agreement are absolute and shall not be terminated or otherwise limited by virtue of any breach (on the part of New Jazz or any other Person) of any provision of the
Merger Agreement or any other agreement, or by virtue of any failure to perform or other breach of any obligation of New Jazz or any other Person. 
 15.        Amendment.  This Noncompetition Agreement may not be amended, modified, altered or supplemented other than by means of a written
instrument duly executed and delivered on behalf of the Employee and New Jazz. 

16.        Complete Agreement.  This Noncompetition Agreement,
together with the Employment Agreement, forms the complete, final, and exclusive embodiment of the entire agreement between Employee and New Jazz concerning the subject matters hereof and shall supersede and replace any and all prior agreements,
representations, letters, understandings or promises, written or oral on such subject matters. This Noncompetition Agreement is entered into without reliance on any promise or representation other than those expressly contained herein, and the terms
hereof cannot be modified or amended except in a written agreement signed by Employee and an officer of New Jazz and duly authorized by the Board of Directors of New Jazz. 

  
 6. 

 17.        Defined
Terms.  For purposes of this Noncompetition Agreement: 

(a)        “Additional Term Competing Products”
shall mean: (i) any pharmaceutical or biotechnology product that contains clozapine as an active pharmaceutical ingredient in any formulation or presentation and for any indication; (ii) any pharmaceutical or biotechnology product that
contains sodium oxybate (or any other salt, or any analog or prodrug, of oxybate) as an active pharmaceutical ingredient, in any formulation or presentation or for any indication; and (iii) any pharmaceutical or biotechnology product which is
delivered intrathecally for severe chronic pain. 

(b)        “Affiliate”  shall mean,
with respect to any specified Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified Person. 

(c)        “Competing Product” shall mean any:
(i) pharmaceutical or biotechnology product that is approved, designed, marketed and/or sold for the treatment of any condition(s) for which any Material New Jazz Product or Product Candidate (A) is or has been approved, designed,
marketed, and/or sold, or (B) is or has been under investigation or consideration for being approved, designed, marketed, and/or sold, at any time during the Noncompetition Period; or (ii) any pharmaceutical or biotechnology product or
product candidate, or other similar product or product candidate, that is substantially the same as, incorporates, is a material component or part of, is based upon, is functionally similar to any Material New Jazz Product or Product
Candidate. 
 (d)        A Person shall be deemed to be
engaged in “Competition” if: such Person is engaged directly in the development, manufacture, promotion, sale, distribution, licensing or sublicensing, of (i) any Competing Product or (ii) any Additional Term
Competing Product, as applicable. 

(e)        “Confidential
Information”  shall mean any information (whether or not in written form and whether or not expressly designated as confidential) relating directly or indirectly to New Jazz and/or any Group Company or relating directly or
indirectly to the business, operations, financial affairs, performance, assets, technology, processes, products, contracts, customers, licensees, sublicensees, suppliers, personnel, consultants or plans of New Jazz and/or any Group Company
(including any such information consisting of or otherwise relating to trade secrets, know-how, technology, inventions, prototypes, designs, drawings, sketches, processes, license or sublicense arrangements, formulae, proposals, research and
development activities, customer lists or preferences, pricing lists, referral sources, marketing or sales techniques or plans, operations manuals, service manuals, financial information, projections, lists of consultants, lists of suppliers or
lists of distributors); provided, however, that “Confidential Information” shall not be deemed to include information of New Jazz and/or any Group Company that was already publicly known and in the public domain prior to the time of
its initial disclosure to Employee or later becomes publicly known through no fault of Employee. 

(f)        “Group Company” and “Group
Companies” shall mean any firm, company, corporation or other organization which is directly or indirectly controlled by New Jazz (including Jazz and Azur Pharma Inc.); which directly or indirectly controls New Jazz; which is directly
or indirectly controlled by a third party who also directly or indirectly controls 

  
 7. 

 
New Jazz; of which New Jazz or any other associated company owns or has a beneficial interest in 20% or more of the issued share capital or 20% or more of its capital assets; or which is the
successor in title or assign of the firms, companies, corporations or other organizations referred to above. 

(g)        “Material New Jazz Product or Product
Candidate” shall mean (i) a product marketed by New Jazz (or Azur as its predecessor) and/or by any Group Company having annual net sales of at least $25 million in either of two calendar years immediately preceding the date on
which Employee’s employment with New Jazz or any Group Company terminates for any reason, or having an annualized net sales run rate of at least $25 million in the then current calendar year (in which such employment terminates), or (ii) a
product candidate of New Jazz (or Azur as its predecessor) and/or of any Group Company that, as of the date on which such employment terminates: (A) is in Phase II or III clinical development; (B) is the subject of a new drug application
or other regulatory application for marketing approval being actively prepared or submitted to the Food and Drug Administration (“FDA”); (C) for which an FDA marketing approval is pending; or (D) that has received
marketing approval by the FDA but that has not yet begun to be marketed or sold. 

(h)        “Noncompetition Period” shall mean the
period of time commencing on the Effective Date and ending on the following applicable date: 

(i)        With respect to any Competing Product: 

(1)        The later of (A) one (1) year following the
Effective Date or (B) six (6) months following the termination of Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination of Employee’s employment occurs at any time prior to or on the one
(1) year anniversary of the Effective Date. 

(2)        Six (6) months following the termination of
Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination of Employee’s employment occurs at any time following the one (1) year anniversary of the Effective Date. 

(ii)        With respect to the Additional Term Competing Products,
two (2) years following the termination of Employee’s employment with New Jazz (or any Group Company) for any reason. 
 (i)        “Nonsolicitation Period” shall mean the period of time commencing on the Effective Date and ending on the following
applicable date: 
 (i)        The later of (A) one
(1) year following the Effective Date or (B) nine (9) months following the termination of Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination occurs at any time prior to or on the one
(1) year anniversary of the Effective Date; 

(ii)        Nine (9) months following the termination of
Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination of Employee’s employment occurs at any time following the one (1) year anniversary of the Effective Date and on or prior to the two
(2) year anniversary of the Effective Date; 

  
 8. 

 (iii)        Six
(6) months following the termination of Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination of Employee’s employment occurs at any time following the two (2) year anniversary of the
Effective Date and on or prior to the three (3) year anniversary of the Effective Date; 

(iv)        Three (3) months following the termination of
Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination of Employee’s employment occurs at any time following the three (3) year anniversary of the Effective Date; and 

(v)        Three (3) months following the termination of
Employee’s employment with New Jazz (or any Group Company) for any reason, if such termination occurs at any time following a Change in Control (as defined in the Employment Agreement and other than the Transactions), notwithstanding
(i) through (iv) in above. 

(j)        “Person” means any:
(i) individual; (ii) corporation, general partnership, limited partnership, limited liability partnership, trust, company (including any limited liability company or joint stock company) or other organization or entity; or
(iii) governmental body or authority. 

(k)        “Restricted Territory” means
(i) the United States, and (ii) worldwide in relation to any pharmaceutical or biotechnology product that contains sodium oxybate (or any other salt, or any analog or prodrug, of oxybate) as an active pharmaceutical ingredient, in any
formulation or presentation or for any indication. 

(l)        “Specified Employee” shall mean any
individual who is or was an employee of New Jazz or any Group Company on the date of this Noncompetition Agreement or during the 180-day period ending on the date of this Noncompetition Agreement, or during the term of Employee’s employment
with New Jazz or any Group Company. Employees who perform purely administrative functions and have no access to Confidential Information are excluded from the definition of Specified Employee. 

18.        Reduction of Noncompetition Period. Notwithstanding any
contrary provision of this Agreement, in the event of a Covered Termination of the Employment Agreement (as defined therein) the Noncompetition Period shall thereupon terminate, save in respect of Additional Term Competing Products. 

  
 9. 

 IN WITNESS
WHEREOF, the parties have duly executed and delivered this Noncompetition Agreement as of the date first above written. 
  

			
	AZUR PHARMA LIMITED
		
	 By:
	 	 /s/ James A. Skehan

		
		 	 James A.
Skehan

			
		
	 Dated:
	 	 19th September 2011

	
	
	EMPLOYEE:
	
	 /s/ Fintan Keegan

	FINTAN KEEGAN

  
 10.

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