Document:

EX-10.2

 Exhibit 10.2 

SEVERANCE AGREEMENT 
 This Severance
Agreement is entered into as of May 6, 2015, by and between Trex Company, Inc., a Delaware corporation (the “Company”) and James E. Cline, an individual (“Executive”). 

Recitals 
 Executive is an
executive officer of the Company. The Company and Executive desire to set forth their agreement pursuant to which Executive will receive certain benefits upon severance from the Company under certain circumstances. 

Agreement 
 Now, therefore, in
consideration of the mutual covenants contained herein, the parties hereby agree as follows: 
 1. Term. The term of this Agreement
(the “Term”) shall begin on the date first set forth above and shall end on the Eligible Employee’s 68th birthday. 

2. Termination of Employment.

(a) Termination by the Company for Cause or at the Election of Executive Without Good Reason. In the event Executive’s
employment is terminated for Cause, as defined in Section 3(a), or at the election of Executive for any reason other than Good Reason, as defined in Section 3(b), the Company shall pay to Executive the compensation and benefits otherwise
due and payable to him in a lump sum payment in cash, payable within 10 days after termination of employment, equal to the sum of (1) Executive’s then annual base salary (“Base Salary”) and any accrued vacation pay through the
date of termination of employment, and (2) Executive’s annual bonus earned for the fiscal year immediately preceding the fiscal year in which the date of termination of employment occurs if such bonus has not been paid as of the date of
termination of employment. 
 (b) Termination for Death or Disability. If Executive’s employment is terminated by death or
because of Disability, as defined in Section 3(c), the Company shall pay to the estate of Executive or to Executive, as the case may be, a lump sum payment in cash, payable within 10 days after termination of employment, equal to the sum of
(1) Executive’s accrued Base Salary and any accrued vacation pay through the date of termination of employment, and (2) Executive’s annual bonus earned for the fiscal year immediately preceding the fiscal year in which the date
of termination of employment occurs if such bonus has not been paid as of the date of termination of employment. 

 (c) Termination by the Company Without Cause or By Executive for Good Reason. If
Executive’s employment is terminated by the Company without Cause, or is terminated by Executive for Good Reason, at any time during the Term (including extensions thereof), except during the Change in Control Protection Period (as defined in
Executive’s Change In Control Severance Agreement) (“Change in Control Severance Agreement”), Executive will be entitled to the following payments and benefits outlined in this Section 2(c): 

(1) Payment of Accrued Obligations. The Company shall pay to Executive a lump sum payment in cash, no later than 10 days after
the date of termination of employment, equal to the sum of (1) Executive’s accrued Base Salary and any accrued vacation pay through the date of termination of employment, and (2) Executive’s annual bonus earned for the fiscal
year immediately preceding the fiscal year in which the date of termination of employment occurs if such bonus has not been paid as of the date of termination of employment. 

(2) Payment of Severance. The Company shall pay to Executive a lump sum cash payment, no later than 10 days after such
termination, equal to two (2) times Executive’s Final Pay as defined in Section 3(d). In the event Executive materially breaches any non-compete or confidentiality agreement then in effect with the Company, Executive agrees to return
to the Company all amounts received under this Section 2(c)(2). 
 (3) Equity. Outstanding equity shall vest as follows:
(1) The unexercised portions of all Options and SARs (as defined in the Trex Company, Inc. 2014 Stock Incentive Plan or a successor plan (“Incentive Plan”) granted to Executive under the Incentive Plan that have not expired or been
forfeited pursuant to their terms shall automatically accelerate and become fully exercisable, (2) the restrictions and conditions on all outstanding Restricted Stock and Restricted Stock Units (as defined in the Incentive Plan) granted to the
Executive that have not expired or been forfeited pursuant to their terms shall immediately lapse and such Restricted Stock and Restricted Stock Units shall vest, and (3) all outstanding Restricted Stock Units and Restricted Stock (as defined
in the Incentive Plan) granted to the Executive that are based upon performance of the Company over a certain period of time shall become payable at the Executive’s target payment for the relevant performance period (regardless of the amount of
the relevant performance period that precedes the termination of employment. 
 (4) Benefit Continuation. Commencing on the
date immediately following Executive’s date of termination of employment and continuing for 24 months (or such lesser time as required to avoid the imposition of additional taxes under 

  
 2 

 
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)) (the “Welfare Benefit Continuation Period”), the Company shall cover Executive
under the same type of Company-sponsored group health plan and dental plan (e.g., individual or family coverage) in which he was covered immediately prior to termination of employment. The Executive shall receive such continued coverage under the
same terms and conditions (e.g., any requirement that employees pay all or any portion of the cost of such coverage) that would apply if Executive had continued to be an employee of the Company during the Welfare Benefit Continuation Period. 

(5) For each month during the Welfare Benefit Continuation Period in which Executive’s continued coverage under an insured plan is not
possible, the Company shall, in lieu of providing the coverage described in the preceding paragraph, make a monthly cash payment to Executive equal to the monthly premium the Company would be charged for coverage of a similarly-situated employee.
The Company shall not be obligated to “gross up” or otherwise compensate Executive for any taxes due on amounts paid pursuant to the preceding sentence. 

(6) Notwithstanding any other provision of this Section 2(c), the Company’s obligation to provide continued coverage (or, in lieu
thereof, make a cash payment) pursuant to this Section 2(c) shall expire on the date Executive becomes covered under one or more plans sponsored by a new employer (other than a successor to the Company) that, at the sole discretion of the
Administrator, as defined in Section 3(e), are determined to provide coverage at least equivalent in the aggregate to the benefits continued under Section 2(c)(4). The coverage period for purposes of the group health continuation
requirements of Section 4980B of the Code shall commence at the expiration of the Welfare Benefit Continuation Period. 
 (7)
Release. The Executive shall not be eligible to receive any payments or benefits provided in Section 2(c) (other than payments under Section 2(c)(1)) unless he first executes a written release and agreement provided by the
Company and does not revoke such release and agreement within the time permitted therein for such revocation. 
 (8) Restriction on
Timing of Distribution. Anything in this Agreement to the contrary notwithstanding, if (1) on Executive’s date of termination of employment, any of the Company’s stock is publicly traded on an established securities market or
otherwise (within the meaning of Section 409A(a)(2)(B)(i) of the Code) and (2) as a result of such termination, Executive would receive any payment that, absent the application of this Section 2(c)(8), would be subject to interest and
additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(1)(B) of the Code, then no such payment shall be payable prior to the date that is the earliest of (x) six months after
Executive’s date of termination of employment, (y) Executive’s death or (z) such other date as will cause such payment not to be subject to such interest and additional tax. For the avoidance of doubt, upon

  
 3 

 
the Executive’s involuntary separation from service (as defined in Treas. Regs. §1.409A-1(n)), the preceding sentence shall not prevent payment to the Executive during such six-month
period of an aggregate amount not exceeding the lesser of (a) two (2) times the sum of the Executive’s annualized compensation based upon the annual rate of pay for his taxable year preceding the taxable year of the separation from
service, or (b) two (2) times the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Executive has a separation from service, as permitted pursuant
to Treas. Regs. §1.409A-1(b)(9)(iii). 
 (d) Termination During a Change in Control Protection Period. If Executive’s
employment is terminated during a Change in Control Protection Period (as that term is defined in Executive’s Change in Control Severance Agreement), Executive shall be entitled to receive such severance payments and benefits as are set forth
in Executive’s Change in Control Severance Agreement, and shall not be entitled to any benefits under this Section 2. 
 3.
Definitions. 
 (a) “Cause” means one of the following reasons for which the Executive’s employment with the
Company is terminated: (1) Executive’s willful or grossly negligent misconduct that is materially injurious to the Company; (2) Executive’s embezzlement or misappropriation of funds or property of the Company;
(3) Executive’s conviction of a felony or the entrance of a plea of guilty or nolo contendere to a felony; (4) Executive’s conviction of any crime involving fraud, dishonesty, moral turpitude or breach of trust or the entrance of
a plea of guilty or nolo contendere to such a crime; or (5) Executive’s willful failure or refusal by Executive to devote his full business time (other than on account of disability or approved leave) and attention to the performance of
his duties and responsibilities if such breach has not been cured within 15 days after written notice thereof is given to the Executive by the Board. 

(b) For the purposes of this Agreement, “Good Reason” shall exist upon: (1) a material and adverse change in
Executive’s status or position(s) as an officer or management employee of the Company, including, without limitation, any adverse change in his status or position as an employee of the Company as a result of a material diminution in his duties
or responsibilities (other than, if applicable, any such change directly attributable to the fact that the Company is no longer publicly owned) or the assignment to him of any duties or responsibilities which are materially inconsistent with such
status or position(s) (other than any isolated and inadvertent failure by the Company that is cured promptly upon his giving notice), or any removal of Executive from or any failure to reappoint or reelect him to such position(s) (except in
connection with Executive’s termination other than for Good Reason); (2) a 10% or greater reduction in Executive’s aggregate Base Salary and targeted bonus, other than any such reduction proportionately consistent with a general
reduction of pay across the 

  
 4 

 
executive staff as a group, as an economic or strategic measure due to poor financial performance by the Company; (3) Company’s requiring Executive to be based at an office that is both
more than 50 miles from where his office is located and further from his then current residence; or (4) a material breach by the Company of this Agreement; provided, however, that if any of the conditions in this Section 3(b) exists,
Executive must provide notice to the Company no more than ninety (90) calendar days following the initial existence of the condition and his intention to terminate his employment for Good Reason. Upon such notice, the Company shall have a
period of thirty (30) calendar days during which it may remedy the condition. 
 (c) For the purposes of this Agreement, the term
“Disability” shall have the meaning given that term under the Trex Company, Inc. disability plan carrier, as in effect at the time a determination of Disability is to be made. 

(d) For the purposes of this Agreement, the term “Final Pay” shall be defined as the sum of (1) Executive’s Base
Salary in effect at the time employment terminates (without taking into consideration a reduction in Base Salary which constitutes “Good Reason” as provided in Section 3(b)(2) above), and (2) the greater of
(A) Executive’s targeted cash bonus for the year immediately prior to the year in which employment terminates or (B) the actual cash bonus earned by the Executive for the year immediately prior to the year in which employment
terminates. 
 (e) For the purposes of this Agreement, the term “Administrator” means the Compensation Committee of the
Board of Directors or such other person or persons appointed from time to time by the Committee. 
 4. Notices. For purposes of
this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when hand delivered, sent by overnight courier, or mailed by first-class, registered or certified
mail, return receipt requested, postage prepaid, or transmitted by telegram, telecopy, or telex, addressed, in the case of Executive, to Executive’s address as shown on the Company’s records and, in the case of the Company, to the
Company’s principal office, to the attention of the General Counsel, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only
upon receipt. 
 5. Entire Agreement. This Agreement, together with the Executive’s Change In Control Severance Agreement,
any stock appreciation rights agreement, restricted stock agreement and/or any other equity agreement issued pursuant to the Trex Company, Inc. 2014 Stock Incentive Plan (or a predecessor or successor plan), any Director/Officer Indemnification
Agreement and any restrictive covenant agreement, constitute the entire agreement between the parties and supersede all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. 

  
 5 

 6. Amendment. This Agreement may be amended or modified only by a written instrument
executed by both the Company and Executive. 
 7. Governing Law. This Agreement shall be construed, interpreted and enforced as
a sealed instrument under and in accordance with the laws of the Commonwealth of Virginia, without reference to the conflicts of laws provisions thereof. Any action, suit or other legal proceeding which is commenced to resolve any matter
arising under or relating to any provision of this Agreement shall be commenced only in a court of the Commonwealth of Virginia (or, if appropriate, a federal court located within Virginia), and the Company and Executive each consents to the
jurisdiction of such a court. 
 8. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of
both parties and their respective successors and assigns, including any corporation with which or into which the Company may be merged or which may succeed to its assets or business, provided, however, that the obligations of Executive are personal
and shall not be assigned by him. Notwithstanding the foregoing, in the event of Executive’s death, any payments that Executive was otherwise entitled to under this Agreement shall be made to his estate. 

9. Acknowledgment. Executive states and represents that he has had an opportunity to fully discuss and review the terms of this
Agreement with an attorney. The Executive further states and represents that he has carefully read this Agreement, understands the contents herein, freely and voluntarily assents to all of the terms and conditions hereof, and signs his name of his
own free act. The Company represents that it has obtained all necessary consents and approvals to execute this Agreement. 
 10.
Miscellaneous. 
 (a) No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of
that or any other right. A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

(b) The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or
substance of any section of this Agreement. 
 (c) Termination of employment under this Agreement shall mean a separation from service under
Section 409A of the Code. 
 (d) In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the
validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year set forth above. 

 

	
	Trex Company, Inc.
	
	 /s/ Ronald W. Kaplan

	Ronald W. Kaplan
	Chairman, President and Chief Executive Officer

  

			
	Executive:
	
	 /s/ James E. Cline

	Name:		James E. Cline

  
 7EX-10.1

 Exhibit 10.1 
 HORIZON PHARMA, INC. 

DEFERRED COMPENSATION PLAN 

Effective April 1, 2015 

  
 Content Copyright ©2008
The Newport Group. All Rights Reserved. 

 Horizon Pharma, Inc. Deferred Compensation Plan 

 

					
	 Article I
	  			
	 Establishment and Purpose
	  	 	1	  
		
	 Article II
	  			
	 Definitions
	  	 	1	  
		
	 Article III
	  			
	 Eligibility and Participation
	  	 	8	  
		
	 Article IV
	  			
	 Deferrals
	  	 	9	  
		
	 Article V
	  			
	 Company Contributions
	  	 	12	  
		
	 Article VI
	  			
	 Benefits
	  	 	12	  
		
	 Article VII
	  			
	 Modifications to Payment Schedules
	  	 	16	  
		
	 Article VIII
	  			
	 Valuation of Account Balances; Investments
	  	 	16	  
		
	 Article IX
	  			
	 Administration
	  	 	18	  
		
	 Article X
	  			
	 Amendment and Termination
	  	 	19	  
		
	 Article XI
	  			
	 Informal Funding
	  	 	20	  
		
	 Article XII
	  			
	 Claims
	  	 	21	  
		
	 Article XIII
	  			
	 General Provisions
	  	 	27	  

  
 Content Copyright ©2008
The Newport Group. All Rights Reserved. 

 Horizon Pharma, Inc. Deferred Compensation Plan 

 

 ARTICLE I 
 Establishment and Purpose 
 Horizon Pharma, Inc. (the “Company”) hereby
establishes the Horizon Pharma, Inc. Deferred Compensation Plan (the “Plan”), effective April 1, 2015. The purpose of the Plan is to attract and retain key employees by providing Participants with an opportunity to defer receipt of a
portion of their salary, bonus, and other specified compensation. The Plan is not intended to meet the qualification requirements of Code Section 401(a), but is intended to meet the requirements of Code Section 409A, and shall be operated
and interpreted consistent with that intent. 
 The Plan constitutes an unsecured promise by a Participating Employer to pay benefits in the
future. Participants in the Plan shall have the status of general unsecured creditors of the Company or the Adopting Employer, as applicable. Each Participating Employer shall be solely responsible for payment of the benefits of its employees and
their beneficiaries. The Plan is unfunded for Federal tax purposes and is intended to be an unfunded arrangement for eligible employees who are part of a select group of management or highly compensated employees of the Employer within the meaning
of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. Any amounts set aside to defray the liabilities assumed by the Company or an Adopting Employer will remain the general assets of the Company or the Adopting Employer and shall remain subject to
the claims of the Company’s or the Adopting Employer’s creditors until such amounts are distributed to the Participants. 

ARTICLE II 

Definitions 
  

	2.1	Account. Account means a bookkeeping account maintained by the Committee to record the payment obligation of a Participating Employer to a Participant as
determined under the terms of the Plan. The Committee may maintain an Account to record the total obligation to a Participant and component Accounts to reflect amounts payable at different times and in different forms. Reference to an Account means
any such Account established by the Committee, as the context requires. Accounts are intended to constitute unfunded obligations within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. 

 

	2.2	Account Balance. Account Balance means, with respect to any Account, the total payment obligation owed to a Participant from such Account as of the most recent
Valuation Date. 

  

	2.3	Adopting Employer. Adopting Employer means an Affiliate who, with the consent of the Company, has adopted the Plan for the benefit of its eligible employees.

  

	2.4	Affiliate. Affiliate means a corporation, trade or business that, together with the Company, is treated as a single employer under Code Section 414(b) or
(c). 

  
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 Horizon Pharma, Inc. Deferred Compensation Plan 

 

	2.5	Beneficiary. Beneficiary means a natural person, estate, or trust designated by a Participant in accordance with Section 6.5 of the Plan to receive payments
to which a Beneficiary is entitled in accordance with provisions of the Plan. 

  

	2.6	Business Day. Business Day means each day on which the New York Stock Exchange is open for business. 

 

	2.7	Change in Control. Change in Control means, with respect to a Participating Employer any of the following events: (i) a change in the ownership of the
Participating Employer, (ii) a change in the effective control of the Participating Employer, or (iii) a change in the ownership of a substantial portion of the assets of the Participating Employer. 

For purposes of this Section, a change in the ownership of the Participating Employer occurs on the date on which any one person, or more
than one person acting as a group, acquires ownership of stock of the Participating Employer that, together with stock held by such person or group constitutes more than 50% of the total fair market value or total voting power of the stock of the
Participating Employer. A change in the effective control of the Participating Employer occurs on the date on which either: (i) a person, or more than one person acting as a group, acquires ownership of stock of the Participating Employer
possessing 50% or more of the total voting power of the stock of the Participating Employer, taking into account all such stock acquired during the 12-month period ending on the date of the most recent acquisition, or (ii) a majority of the
members of the Participating Employer’s Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of such Board of Directors prior to the date of the
appointment or election, but only if no other corporation is a majority shareholder of the Participating Employer. A change in the ownership of a substantial portion of assets occurs on the date on which any one person, or more than one person
acting as a group, other than a person or group of persons that is related to the Participating Employer, acquires assets from the Participating Employer that have a total gross fair market value equal to or more than 75% of the total gross fair
market value of all of the assets of the Participating Employer immediately prior to such acquisition or acquisitions, taking into account all such assets acquired during the 12-month period ending on the date of the most recent acquisition.

 An event constitutes a Change in Control with respect to a Participant only if the Participant performs services for the
Participating Employer that has experienced the Change in Control, or the Participant’s relationship to the affected Participating Employer otherwise satisfies the requirements of Treasury Regulation Section 1.409A-3(i)(5)(ii). 

The determination as to the occurrence of a Change in Control shall be based on objective facts and in accordance with the requirements of
Code Section 409A. 
  

	2.8	Claimant. Claimant means a Participant or Beneficiary filing a claim under Article XII of this Plan. 

 

	2.9	Code. Code means the Internal Revenue Code of 1986, as amended from time to time. 

  
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 Horizon Pharma, Inc. Deferred Compensation Plan 

 

	2.10	Code Section 409A. Code Section 409A means section 409A of the Code, and regulations and other guidance issued by the Treasury Department and Internal
Revenue Service thereunder. 

  

	2.11	Committee. Committee means the committee appointed by the Board of Directors of the Company Parent (or the appropriate committee of such board) to administer the
Plan. If no designation is made, the Compensation Committee of the Board of Directors of the Company Parent shall have and exercise the powers of the Committee. 

 

	2.12	Company. Company means Horizon Pharma, Inc. 

  

	2.13	Company Parent. Company Parent means Horizon Pharma Public Limited Company. 

 

	2.14	Company Contribution. Company Contribution means a credit by a Participating Employer to a Participant’s Account(s) in accordance with the provisions of
Article V of the Plan. Company Contributions are credited at the sole discretion of the Participating Employer and the fact that a Company Contribution is credited in one year shall not obligate the Participating Employer to continue to make such
Company Contribution in subsequent years. Unless the context clearly indicates otherwise, a reference to Company Contribution shall include Earnings attributable to such contribution. 

 

	2.15	Company Stock. Company Stock means phantom ordinary shares issued by the Company Parent. 

 

	2.16	Compensation. Compensation means a Participant’s base salary, bonus, commission, and such other cash or equity-based compensation (if any) approved by the
Committee as Compensation that may be deferred under this Plan. Compensation shall not include any compensation that has been previously deferred under this Plan or any other arrangement subject to Code Section 409A. 

 

	2.17	Compensation Deferral Agreement. Compensation Deferral Agreement means an agreement between a Participant and a Participating Employer that specifies:
(i) the amount of each component of Compensation that the Participant has elected to defer to the Plan in accordance with the provisions of Article IV, and (ii) the Payment Schedule applicable to one or more Accounts. The Committee may
permit different deferral amounts for each component of Compensation and may establish a minimum or maximum deferral amount for each such component. Unless otherwise specified by the Committee in the Compensation Deferral Agreement, Participants may
defer up to 50% of their base salary and up to 100% of other types of Compensation for a Plan Year. A Compensation Deferral Agreement may also specify the investment allocation described in Section 8.4. 

 

	2.18	Death Benefit. Death Benefit means the benefit payable under the Plan to a Participant’s Beneficiary(ies) upon the Participant’s death as provided in
Section 6.1 of the Plan. 

  

	2.19	 Deferral. Deferral means a credit to a Participant’s Account(s) that records that portion of the Participant’s Compensation that the
Participant has elected to defer to the Plan in 

  
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 Horizon Pharma, Inc. Deferred Compensation Plan 

 

	 	
accordance with the provisions of Article IV. Unless the context of the Plan clearly indicates otherwise, a reference to Deferrals includes Earnings attributable to such Deferrals.

 Deferrals shall be calculated with respect to the gross cash Compensation payable to the Participant prior to
any deductions or withholdings, but shall be reduced by the Committee as necessary so that it does not exceed 100% of the cash Compensation of the Participant remaining after deduction of all required income and employment taxes, 401(k) and other
employee benefit deductions, and other deductions required by law. Changes to payroll withholdings that affect the amount of Compensation being deferred to the Plan shall be allowed only to the extent permissible under Code Section 409A.

  

	2.20	Director. Director means a member of the Board of Directors of the Company, the Board of Directors of the Company Parent or the Board of Directors of any other
Affiliate. 

  

	2.21	Earnings. Earnings means an adjustment to the value of an Account in accordance with Article VIII. 

 

	2.22	Effective Date. Effective Date means April 1, 2015. 

  

	2.23	Eligible Employee. Eligible Employee means a member of a “select group of management or highly compensated employees” of a Participating Employer
within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, as determined by the Committee from time to time in its sole discretion. 

  

	2.24	Employee. Employee means a common-law employee of an Employer. 

  

	2.25	Employer. Employer means, with respect to Employees it employs, the Company and each Affiliate. 

 

	2.26	ERISA. ERISA means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

 

	2.27	Fiscal Year Compensation. Fiscal Year Compensation means Compensation earned during one or more consecutive fiscal years of a Participating Employer, all of
which is paid after the last day of such fiscal year or years. 

  

	2.28	Participant. Participant means an Eligible Employee who has received notification of his or her eligibility to defer Compensation under the Plan under
Section 3.1 and any other person with an Account Balance greater than zero, regardless of whether such individual continues to be an Eligible Employee. A Participant’s continued participation in the Plan shall be governed by
Section 3.2 of the Plan. 

  

	2.29	Participating Employer. Participating Employer means the Company and each Adopting Employer. 

  
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 Horizon Pharma, Inc. Deferred Compensation Plan 

 

	2.30	Payment Schedule. Payment Schedule means the date as of which payment of an Account under the Plan will commence and the form in which payment of such Account
will be made. 

  

	2.31	Performance-Based Compensation. Performance-Based Compensation means Compensation where the amount of, or entitlement to, the Compensation is contingent on the
satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months. Organizational or individual performance criteria are considered pre-established if established in
writing by not later than 90 days after the commencement of the period of service to which the criteria relate, provided that the outcome is substantially uncertain at the time the criteria are established. The determination of whether Compensation
qualifies as “Performance-Based Compensation” will be made in accordance with Treas. Reg. Section 1.409A-1(e) and subsequent guidance. 

  

	2.32	Plan. Generally, the term Plan means the “Horizon Pharma, Inc. Deferred Compensation Plan” as documented herein and as may be amended from time to time
hereafter. However, to the extent permitted or required under Code Section 409A, the term Plan may in the appropriate context also mean a portion of the Plan that is treated as a single plan under Treas. Reg. Section 1.409A-1(c), or the
Plan or portion of the Plan and any other nonqualified deferred compensation plan or portion thereof that is treated as a single plan under such section. 

  

	2.33	Plan Year. Plan Year means January 1 through December 31; provided, however, the initial Plan Year shall be the period commencing on April 1, 2015
and ending on December 31, 2015. 

  

	2.34	Retirement/Termination Account. Retirement/Termination Account means an Account established by the Committee to record the amounts payable to a Participant upon
Separation from Service. Unless the Participant has established a Specified Date Account, all Deferrals and Company Contributions shall be allocated to a Retirement/Termination Account on behalf of the Participant. 

 

	2.35	Separation from Service. With respect to an Employee a “Separation from Service” means an Employee’s termination of service with the Employer. In
all cases, whether a Separation from Service has occurred shall be determined by the Committee in accordance with Code Section 409A. 

 Except in the case of an Employee on a bona fide leave of absence as provided below, an Employee is deemed to have incurred a Separation from Service if the Employer and the Employee reasonably
anticipated that the level of services to be performed by the Employee after a date certain, whether as an Employee or in a consulting capacity, would be reduced to 20% or less of the average services rendered by the Employee during the immediately
preceding 36-month period (or the total period of employment, if less than 36 months), disregarding periods during which the Employee was on a bona fide leave of absence. 

  
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The Newport Group. All Rights Reserved. 
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 Horizon Pharma, Inc. Deferred Compensation Plan 

 

 An Employee who is absent from work due to military leave, sick leave, or other bona
fide leave of absence shall incur a Separation from Service on the first date immediately following the later of: (i) the six month anniversary of the commencement of the leave, or (ii) the expiration of the Employee’s right, if any,
to reemployment under statute or contract. 
 If a Participant is both a Director and an Employee, the services provided as a
Director shall be disregarded in determining whether there has been a Separation from Service as an Employee, provided that the Plan is not required to be aggregated with any plans in which the Participant participates as a Director in accordance
with the rules of Treasury Regulation Section 1.409A-1(c)(2)(ii). 
 For purposes of determining whether a Separation from
Service has occurred, the Employer means the Employer as defined in Section 2.24 of the Plan, except that in applying Code sections 1563(a)(1), (2) and (3) for purposes of determining whether another organization is an Affiliate of
the Company under Code Section 414(b), and in applying Treasury Regulation Section 1.414(c)-2 for purposes of determining whether another organization is an Affiliate of the Company under Code Section 414(c), “at least 50
percent” shall be used instead of “at least 80 percent” each place it appears in those sections. 
 The Committee
specifically reserves the right to determine whether a sale or other disposition of substantial assets to an unrelated party constitutes a Separation from Service with respect to a Participant providing services to the seller immediately prior to
the transaction and providing services to the buyer after the transaction. Such determination shall be made in accordance with the requirements of Code Section 409A. 

 

	2.36	Specified Date Account. Specified Date Account means an Account established by the Committee to record the amounts payable at a future date as specified in the
Participant’s Compensation Deferral Agreement. Unless otherwise determined by the Committee, a Participant may maintain no more than five Specified Date Accounts. A Specified Date Account may be identified in enrollment materials as an
“In-Service Account” or such other name as established by the Committee without affecting the meaning thereof. 

  

	2.37	Specified Date Benefit. Specified Date Benefit means the benefit payable to a Participant under the Plan in accordance with Section 6.1(b).

  

	2.38	Specified Employee. Specified Employee means an Employee who, as of the date of his or her Separation from Service, is a “key employee” of the Company
or any Affiliate, any stock of which is actively traded on an established securities market or otherwise. 

 An
Employee is a key employee if he or she meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with applicable regulations thereunder and without regard to Code Section 416(i)(5)) at any time
during the 12-month period ending on the Specified Employee Identification Date. Such Employee shall be treated as 

  
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a key employee for the entire 12-month period beginning on the Specified Employee Effective Date. 
 For purposes of determining whether an Employee is a Specified Employee, the compensation of the Employee shall be determined in accordance with the definition of compensation provided under Treas. Reg.
Section 1.415(c)-2(d)(2) (wages, salaries, fees for professional services, and other amounts received for personal services actually rendered in the course of employment with the employer maintaining the plan, to the extent such amounts are
includible in gross income or would be includible but for an election under section 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b), including the earned income of a self-employed individual); provided, however, that, with respect to a
nonresident alien who is not a Participant in the Plan, compensation shall not include compensation that is not includible in the gross income of the Employee under Code Sections 872, 893, 894, 911, 931 and 933, provided such compensation is not
effectively connected with the conduct of a trade or business within the United States. 
 In the event of corporate transactions
described in Treas. Reg. Section 1.409A-1(i)6), the identification of Specified Employees shall be determined in accordance with the default rules described therein, unless the Employer elects to utilize the available alternative methodology
through designations made within the timeframes specified therein. 
  

	2.39	Specified Employee Identification Date. Specified Employee Identification Date means December 31st. 

 

	2.40	Specified Employee Effective Date. Specified Employee Effective Date means the first day of the fourth month following the Specified Employee Identification
Date. 

  

	2.41	Substantial Risk of Forfeiture. Substantial Risk of Forfeiture means the description specified in Treas. Reg. Section 1.409A-1(d). 

 

	2.42	Termination Benefit. Termination Benefit means the benefit payable to a Participant under the Plan following the Participant’s Separation from Service.

  

	2.43	Unforeseeable Emergency. Unforeseeable Emergency means a severe financial hardship to the Participant resulting from an illness or accident of the Participant,
the Participant’s spouse, the Participant’s dependent (as defined in Code section 152, without regard to section 152(b)(1), (b)(2), and (d)(1)(B)), or a Beneficiary; loss of the Participant’s property due to casualty (including the
need to rebuild a home following damage to a home not otherwise covered by insurance, for example, as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of
the Participant. The types of events which may qualify as an Unforeseeable Emergency may be limited by the Committee. 

  

	2.44	Valuation Date. Valuation Date means each Business Day. 

  

	2.45	Year of Service. Year of Service means each 12-month period of continuous service with the Employer. 

  
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 ARTICLE III 
 Eligibility and Participation 
  

	3.1	Eligibility and Participation. An Eligible Employee becomes a Participant upon the earlier to occur of: (i) a credit of Company Contributions under Article
V, or (ii) receipt of notification of eligibility to participate. 

  

	3.2	Duration. A Participant shall be eligible to defer Compensation and receive allocations of Company Contributions, subject to the terms of the Plan, for as long
as such Participant remains an Eligible Employee. A Participant who is no longer an Eligible Employee but has not Separated from Service may not defer Compensation under the Plan beyond the Plan Year in which he or she became ineligible but may
otherwise exercise all of the rights of a Participant under the Plan with respect to his or her Account(s). On and after a Separation from Service, a Participant shall remain a Participant as long as his or her Account Balance is greater than zero
(0), and during such time may continue to make allocation elections as provided in Section 8.4. An individual shall cease being a Participant in the Plan when all benefits under the Plan to which he or she is entitled have been paid.

 ARTICLE IV 
 Deferrals 
  

	4.1	Deferral Elections, Generally. 

  

	 	(a)	A Participant may elect to defer Compensation by submitting a Compensation Deferral Agreement during the enrollment periods established by the Committee and in the
manner specified by the Committee, but in any event, in accordance with Section 4.2. A Compensation Deferral Agreement that is not timely filed with respect to a service period or component of Compensation shall be considered void and shall
have no effect with respect to such service period or Compensation. The Committee may modify any Compensation Deferral Agreement prior to the date the election becomes irrevocable under the rules of Section 4.2. 

 

	 	(b)	The Participant shall specify on his or her Compensation Deferral Agreement the amount of Deferrals and whether to allocate Deferrals to a Retirement/Termination
Account or to a Specified Date Account. If no designation is made, Deferrals shall be allocated to the Retirement/Termination Account. A Participant may also specify in his or her Compensation Deferral Agreement the Payment Schedule applicable to
his or her Plan Accounts. If the Payment Schedule is not specified in a Compensation Deferral Agreement, the Payment Schedule shall be the Payment Schedule specified in Section 6.2. 

  
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	4.2	Timing Requirements for Compensation Deferral Agreements. 

  

	 	(a)	First Year of Eligibility. In the case of the first year in which an Eligible Employee becomes eligible to participate in the Plan, he or she has up to 30 days
following his or her initial eligibility to submit a Compensation Deferral Agreement with respect to Compensation to be earned during such year. The Compensation Deferral Agreement described in this paragraph becomes irrevocable upon the end of such
30-day period. The determination of whether an Eligible Employee may file a Compensation Deferral Agreement under this paragraph shall be determined in accordance with the rules of Code Section 409A, including the provisions of Treas. Reg.
Section 1.409A-2(a)(7). 

 A Compensation Deferral Agreement filed under this paragraph applies only to
Compensation earned on and after the date the Compensation Deferral Agreement becomes irrevocable. 
  

	 	(b)	Prior Year Election. Except as otherwise provided in this Section 4.2, Participants may defer Compensation by filing a Compensation Deferral Agreement no
later than December 31 of the year prior to the year in which the Compensation to be deferred is earned. A Compensation Deferral Agreement described in this paragraph shall become irrevocable with respect to such Compensation as of
December 31 of the year prior to the year in which the Compensation to be deferred is earned. 

  

	 	(c)	Performance-Based Compensation. Participants may file a Compensation Deferral Agreement with respect to Performance-Based Compensation no later than the date
that is six months before the end of the performance period, provided that: 

  

	 	(i)	the Participant performs services continuously from the later of the beginning of the performance period or the date the criteria are established through the date the
Compensation Deferral Agreement is submitted and becomes irrevocable; and 

  

	 	(ii)	the Compensation is not readily ascertainable as of the date the Compensation Deferral Agreement is filed. 

A Compensation Deferral Agreement becomes irrevocable with respect to Performance-Based Compensation as of the latest date for filing such
election. Any election to defer Performance-Based Compensation that is made in accordance with this paragraph and that becomes payable as a result of the Participant’s death or disability (as defined in Treas. Reg. Section 1.409A-1(e)) or
upon a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)) prior to the satisfaction of the performance criteria, will be void. 

  
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	 	(d)	Fiscal Year Compensation. A Participant may defer Fiscal Year Compensation by filing a Compensation Deferral Agreement prior to the first day of the fiscal year
or years in which such Fiscal Year Compensation is earned. The Compensation Deferral Agreement described in this paragraph becomes irrevocable on the date immediately preceding the first day of the fiscal year or years to which it applies.

  

	 	(e)	Short-Term Deferrals. Compensation that meets the definition of a “short-term deferral” described in Treas. Reg. Section 1.409A-1(b)(4) may be
deferred in accordance with the rules of Article VII, applied as if the date the Substantial Risk of Forfeiture lapses is the date payments were originally scheduled to commence, provided, however, that the provisions of Section 7.3 shall not
apply to payments attributable to a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)). 

  

	 	(f)	 Certain Forfeitable Rights. With respect to a legally binding right to a payment in a subsequent year that is subject to a forfeiture condition
requiring the Participant’s continued services for a period of at least 12 months from the date the Participant obtains the legally binding right, an election to defer such Compensation may be made on or before the 30th day after the Participant obtains the legally binding right to the
Compensation, provided that the election is made at least 12 months in advance of the earliest date at which the forfeiture condition could lapse. The Compensation Deferral Agreement described in this paragraph becomes irrevocable upon such
30th day. If the forfeiture condition applicable to the
payment lapses before the end of the required service period as a result of the Participant’s death or disability (as defined in Treas. Reg. Section 1.409A-3(i)(4)) or upon a Change in Control (as defined in Treas. Reg.
Section 1.409A-3(i)(5)), the Compensation Deferral Agreement will be void unless it would be considered timely under another rule described in this Section. 

 

	 	(g)	Company Awards. Participating Employers may unilaterally provide for deferrals of Company awards prior to the date of such awards. Deferrals of Company awards
(such as sign-on, retention, or severance pay) may be negotiated with a Participant prior to the date the Participant has a legally binding right to such Compensation. 

 

	 	(h)	 “Evergreen” Deferral Elections. The Committee, in its discretion, may provide in the Compensation Deferral Agreement that such
Compensation Deferral Agreement will continue in effect for each subsequent year or performance period. Such “evergreen” Compensation Deferral Agreements will become effective with respect to an item of Compensation on the date such
election becomes irrevocable under this Section 4.2. An evergreen Compensation Deferral Agreement may be terminated or modified prospectively with respect to Compensation for which such election remains revocable under this Section 4.2. A
Participant whose Compensation Deferral Agreement is cancelled in accordance with Section 4.6 will be required to file a new Compensation Deferral 

  
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Agreement under this Article IV in order to recommence Deferrals under the Plan. 

  

	4.3	Allocation of Deferrals. A Compensation Deferral Agreement may allocate Deferrals to one or more Specified Date Accounts and/or to the Retirement/Termination
Account. The Committee may, in its discretion, establish a minimum deferral period for the establishment of a Specified Date Account (for example, the third Plan Year following the year Compensation is allocated to such accounts.).

  

	4.4	Deductions from Pay. The Committee has the authority to determine the payroll practices under which any component of Compensation subject to a Compensation
Deferral Agreement will be deducted from a Participant’s Compensation. 

  

	4.5	Vesting. Participant Deferrals shall be 100% vested at all times. 

  

	4.6	 Cancellation of Deferrals. The Committee may cancel a Participant’s Deferrals: (i) for the balance of the Plan Year in which an
Unforeseeable Emergency occurs, (ii) if the Participant receives a hardship distribution under the Employer’s qualified 401(k) plan, through the end of the Plan Year in which the six month anniversary of the hardship distribution falls,
and (iii) during periods in which the Participant is unable to perform the duties of his or her position or any substantially similar position due to a mental or physical impairment that can be expected to result in death or last for a
continuous period of at least six months, provided cancellation occurs by the later of the end of the taxable year of the Participant or the 15th day of the third month following the date the Participant incurs the disability (as defined in this paragraph (iii)).

 ARTICLE V 
 Company Contributions 
  

	5.1	Discretionary Company Contributions. The Participating Employer may, from time to time in its sole and absolute discretion, credit discretionary Company
Contributions to any Participant in any amount determined by the Participating Employer. Such contributions will be credited to a Participant’s Retirement/Termination Account. 

 

	5.2	Matching Company Contributions. The Participating Employer may, from time to time in its sole and absolute discretion, credit matching Company Contributions to
the Accounts of Participants in any amount determined by the Participating Employer. Such contributions will be credited to a Participant’s Retirement/Termination Account. 

 

	5.3	 Vesting. Discretionary Company Contributions described in Section 5.1, above, and the Earnings thereon, shall vest in accordance with the
vesting schedule(s) established by the Committee at the time that the Company Contribution is made. Unless otherwise determined by the Company at the time such Matching Company Contributions are approved, any Matching Company Contributions described
in Section 5.2 above, and the Earnings thereon, shall vest in accordance with the vesting schedule applicable to 

  
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matching contributions under the Participating Employer’s qualified 401(k) plan. All Company Contributions shall become 100% vested upon the occurrence of the earliest of: (i) the death
of the Participant while actively employed, (ii) the Participant’s disability under a disability plan of the Participating Employer, or applying the disability definition under such plan if the Participant is not covered by such plan, or
(iii) a Change in Control. The Participating Employer may, at any time, in its sole discretion, increase a Participant’s vested interest in a Company Contribution. The portion of a Participant’s Accounts that remains unvested upon his
or her Separation from Service after the application of the terms of this Section 5.3 shall be forfeited. 

ARTICLE VI 
 Benefits

  

	6.1	Benefits, Generally. A Participant shall be entitled to the following benefits under the Plan: 

 

	 	(a)	Termination Benefit. Upon the Participant’s Separation from Service for reasons other than death, he or she shall be entitled to a Termination Benefit. The
Termination Benefit shall be equal to the vested portion of the Retirement/Termination Account and, if the Participant Separates from Service prior to the year payments from a Specified Date Account are scheduled to commence, the vested balances of
any such Specified Date Accounts, based on the value of that Account(s) as of the end of the month preceding the month of payment. Payment of the Termination Benefit will be made or begin in January of the calendar year following the calendar year
in which Separation from Service occurs, provided, however, that with respect to a Participant who is a Specified Employee as of the date such Participant incurs a Separation from Service, payment will be made on the date provided above or, if
later, in the seventh month following the month in which such Separation from Service occurs. If the Termination Benefit is to be paid in the form of installments, any subsequent installment payments to a Specified Employee will be paid on the
anniversary of the date the first payment would have been made had the Participant not been classified as a Specified Employee. 

  

	 	(b)	Specified Date Benefit. If the Participant has established one or more Specified Date Accounts, he or she shall be entitled to a Specified Date Benefit with
respect to each such Specified Date Account. The Specified Date Benefit shall be equal to the vested portion of the Specified Date Account, based on the value of that Account as of the end of the month preceding the month of payment. Payment of the
Specified Date Benefit will be made or begin in January of the year designated by the Participant; provided, however, that if a Participant Separates from Service prior to the year designated, payment will be made or begin in January of the year
following Separation from Service or, with respect to a Participant who is a Specified Employee as of the date he Separates from Service, in the seventh month following the month he or she Separates from Service, if later. 

  
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	 	(c)	Death Benefit. In the event of the Participant’s death, his or her designated Beneficiary(ies) shall be entitled to a Death Benefit. The Death Benefit shall
be equal to the vested portion of the Retirement/Termination Account and the unpaid balances of any Specified Date Accounts, based on the value of the Accounts as of the end of the month in which death occurred, with payment made in the first day of
the following month. 

  

	 	(d)	Change in Control. A Participant will receive his or her Account Balances in a single lump sum payment equal to the unpaid balance of all of his or her Accounts
within ninety (90) days following a Change in Control; provided, however, that with respect to any Participant who is a Specified Employee and who had a Separation from Service prior to the date of the Change in Control, such payment shall not
be made until the seventh month following the month he or she Separates from Service, if later, to the extent necessary to avoid adverse tax consequences to such Participant under Section 409A. 

 

	 	(e)	Unforeseeable Emergency Payments. A Participant who experiences an Unforeseeable Emergency may submit a written request to the Committee to receive payment of
all or any portion of his or her vested Accounts. Whether a Participant or Beneficiary is faced with an Unforeseeable Emergency permitting an emergency payment shall be determined by the Committee based on the relevant facts and circumstances of
each case, but, in any case, a distribution on account of Unforeseeable Emergency may not be made to the extent that such emergency is or may be reimbursed through insurance or otherwise, by liquidation of the Participant’s assets, to the
extent the liquidation of such assets would not cause severe financial hardship, or by cessation of Deferrals under this Plan. If an emergency payment is approved by the Committee, the amount of the payment shall not exceed the amount reasonably
necessary to satisfy the need, taking into account the additional compensation that is available to the Participant as the result of cancellation of deferrals to the Plan, including amounts necessary to pay any taxes or penalties that the
Participant reasonably anticipates will result from the payment. The amount of the emergency payment shall be subtracted first from the vested portion of the Participant’s Retirement/Termination Account until depleted and then from the vested
Specified Date Accounts, beginning with the Specified Date Account with the latest payment commencement date. Emergency payments shall be paid in a single lump sum within the 90-day period following the date the payment is approved by the Committee.

  

	6.2	Form of Payment. 

  

	 	(a)	 Termination Benefit. A Participant who is entitled to receive a Termination Benefit shall receive payment of such benefit in a single lump sum,
unless the Participant elects on his or her initial Compensation Deferral Agreement to have such benefit paid in one of the following alternative forms of payment (i) substantially equal annual installments over a period of two to twenty years,
as elected by the Participant, or (ii) a lump sum payment of a percentage of the 

  
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balance in the Retirement/Termination Account, with the balance paid in substantially equal annual installments over a period of two to twenty years, as elected by the Participant. Such payments
will be made at the time specified in Section 6.1(a). 

  

	 	(b)	Specified Date Benefit. The Specified Date Benefit shall be paid in a single lump sum, unless the Participant elects on the Compensation Deferral Agreement with
which the account was established to have the Specified Date Account paid in substantially equal annual installments over a period of two to five years, as elected by the Participant, and such payments will be made at the time specified in
Section 6.1(b); provided, however, that if a Participant Separates from Service prior to the year designated for commencement of payment(s) from a Specified Date Account, such Account will be distributed in accordance with the payment election
applicable to the Retirement/Termination Account and will instead be paid at the time specified in Section 6.1(a). 

  

	 	(c)	Death Benefit. A designated Beneficiary who is entitled to receive a Death Benefit shall receive payment of such benefit in a single lump sum at the time
specified in Section 6.1(c). 

  

	 	(d)	Change in Control. In the event of a Change in Control each Participant will receive the value of his or her entire Account Balances in a single lump sum
payment. Such payment will be made at the time specified in Section 6.1(d). 

  

	 	(e)	Small Account Balances. The Committee shall pay the value of the entire Participant’s Account Balance in a single lump sum if the Participant’s entire
Account Balance, including any Specified Date Account balances, at Separation from Service is less than $50,000, which payment will be made at the time specified in Section 6.1(a). Further, the Committee may direct that all of a
Participant’s Account Balances will be distributed in a single lump sum if the Account Balances are not greater than the applicable dollar amount under Code Section 402(g)(1)(B), provided the payment represents the complete liquidation of
the Participant’s interest in the Plan. 

  

	 	(f)	Rules Applicable to Installment Payments. If a Payment Schedule specifies installment payments, annual payments will be made beginning as of the payment
commencement date for such installments and shall continue on each subsequent January until the number of installment payments specified in the Payment Schedule has been paid. The amount of each installment payment shall be determined by dividing
(a) by (b), where (a) equals the Account Balance as of the Valuation Date and (b) equals the remaining number of installment payments. 

 For purposes of Article VII, installment payments will be treated as a single form of payment. If a lump sum equal to less than 100% of the Retirement/Termination Account is paid, the payment commencement
date for the installment form of payment will be the first anniversary of the payment of the lump sum. 

  
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	6.3	 Administrative Discretion with Regard to Timing of Payments. Notwithstanding anything to the contrary in this Article VI, the Committee may make
a payment at the time specified in the preceding paragraphs or at a later date that falls in the same calendar year as the specified time or, if later, by the 15th day of the third calendar month following the time specified, provided the Participant is not permitted, directly or
indirectly, to designate the taxable year in which payment will be made. Further, the Committee may make a payment up to 30 days preceding the time specified in the preceding paragraphs, provided the Participant is not permitted, directly or
indirectly, to designate the taxable year in which the payment will be made. To the extent the Committee exercises its discretion hereunder, payment of the Account shall be based on the value of the Account as of the date specified by the Committee,
which shall be no earlier than the end of the month preceding payment and shall be no later than the Business Date preceding the date of payment. 

  

	6.4	Acceleration of or Delay in Payments. The Committee, in its sole and absolute discretion, may elect to accelerate the time or form of payment of a benefit owed
to the Participant hereunder, provided such acceleration is permitted under Treas. Reg. Section 1.409A-3(j)(4) and explicitly reserves the right to make such election. The Committee may also, in its sole and absolute discretion, delay the time
for payment of a benefit owed to the Participant hereunder, to the extent permitted under Treas. Reg. Section 1.409A-2(b)(7). If the Plan receives a domestic relations order (within the meaning of Code Section 414(p)(1)(B)) directing that
all or a portion of a Participant’s Accounts be paid to an “alternate payee,” any amounts to be paid to the alternate payee(s) shall be paid in a single lump sum. 

 

	6.5	Designation of Beneficiaries. 

  

	 	(a)	In General. The Participant shall designate a Beneficiary on the forms provided by the Committee or on such terms and conditions as the Committee may prescribe.
No such designation shall become effective unless filed with the Committee during the Participant’s lifetime. Any designation shall remain in effect until a new designation is filed with the Committee; provided, however, that in the event a
Participant designates his or her spouse as a Beneficiary, such designation shall be automatically revoked upon the dissolution of the marriage unless, following such dissolution, the Participant submits a new designation naming the former spouse as
a Beneficiary. A Participant may from time to time change his or her designated Beneficiary without the consent of a previously-designated Beneficiary by filing a new designation with the Committee. 

 

	 	(b)	No Beneficiary. If a designated Beneficiary does not survive the Participant, or if there is no valid Beneficiary designation, amounts payable under the Plan
upon the death of the Participant shall be paid to the Participant’s spouse, or if there is no surviving spouse, then to the duly appointed and currently acting personal representative of the Participant’s estate. 

  
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 ARTICLE VII 
 Modifications to Payment Schedules 
  

	7.1	Participant’s Right to Modify. A Participant may modify the Payment Schedules applicable to a Specified Date Account, consistent with the permissible
Payment Schedules available under the Plan, provided such modification complies with the requirements of this Article VII. No modifications may be made to Payment Schedules for a Participant’s Retirement/Termination Account.

  

	7.2	Time of Election. The date on which a modification election is submitted to the Committee must be at least 12 months prior to the date on which payment is
scheduled to commence under the Payment Schedule in effect prior to the modification. 

  

	7.3	Date of Payment under Modified Payment Schedule. The date payments are to commence under the modified Payment Schedule must be no earlier than five years after
the date payment would have commenced under the original Payment Schedule. Under no circumstances may a modification election result in an acceleration of payments in violation of Code Section 409A. 

 

	7.4	Effective Date. A modification election submitted in accordance with this Article VII is irrevocable upon receipt by the Committee and becomes effective 12
months after such date. 

  

	7.5	Effect on Accounts. An election to modify a Payment Schedule is specific to the Account or payment event to which it applies, and shall not be construed to
affect the Payment Schedules of any other Accounts. 

 ARTICLE VIII 

Valuation of Account Balances; Investments 
  

	8.1	Valuation. Deferrals shall be credited to appropriate Accounts on the date such Compensation would have been paid to the Participant absent the Compensation
Deferral Agreement. Company Contributions shall be credited to the Retirement/Termination Account at the times determined by the Committee. Valuation of Accounts shall be performed under procedures approved by the Committee.

  

	8.2	Earnings Credit. Each Account will be credited with Earnings on each Business Day, based upon the Participant’s investment allocation among a menu of
investment options selected in advance by the Committee, in accordance with the provisions of this Article VIII (“investment allocation”). 

  

	8.3	 Investment Options. Investment options will be determined by the Committee. The Committee, in its sole discretion, shall be permitted to add or
remove investment options from the Plan menu from time to time, provided that any such additions or removals of 

  
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investment options shall not be effective with respect to any period prior to the effective date of such change. 

 

	8.4	Investment Allocations. A Participant’s investment allocation constitutes a deemed, not actual, investment among the investment options comprising the
investment menu. At no time shall a Participant have any real or beneficial ownership in any investment option included in the investment menu, nor shall the Participating Employer or any trustee acting on its behalf have any obligation to purchase
actual securities as a result of a Participant’s investment allocation. A Participant’s investment allocation shall be used solely for purposes of adjusting the value of a Participant’s Account Balances. 

A Participant shall specify an investment allocation for each of his Accounts in accordance with procedures established by the Committee.
Allocation among the investment options must be designated in increments of 1%. The Participant’s investment allocation will become effective on the same Business Day or, in the case of investment allocations received after a time specified by
the Committee, the next Business Day. 
 A Participant may change an investment allocation on any Business Day, both with respect
to future credits to the Plan and with respect to existing Account Balances, in accordance with procedures adopted by the Committee. Changes shall become effective on the same Business Day or, in the case of investment allocations received after a
time specified by the Committee, the next Business Day, and shall be applied prospectively. 
  

	8.5	Unallocated Deferrals and Accounts. If the Participant fails to make an investment allocation with respect to an Account, such Account shall be invested in an
investment option, the primary objective of which is the preservation of capital, as determined by the Committee. 

  

	8.6	Company Stock. The Committee may include Company Stock as one of the investment options described in Section 8.3. The Committee may, in its sole discretion,
limit the investment allocation of Company Contributions to Company Stock. The Committee may also require Deferrals consisting of equity-based Compensation to be allocated to Company Stock. 

 

	8.7	Diversification. A Participant may not re-allocate an investment in Company Stock into another investment option. The portion of an Account that is invested in
Company Stock will be paid under Article VI in the form of whole shares of Company Stock. 

  

	8.8	Effect on Installment Payments. If an Account is to be paid in installments, the Committee will determine the portion of each payment that will be paid in the
form of Company Stock. 

  

	8.9	Dividend Equivalents. Dividend equivalents with respect to Company Stock will be credited to the applicable Accounts in the form of additional shares or units of
Company Stock. 

  
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 ARTICLE IX 
 Administration 
  

	9.1	Plan Administration. This Plan shall be administered by the Committee which shall have discretionary authority to make, amend, interpret and enforce all
appropriate rules and regulations for the administration of this Plan and to utilize its discretion to decide or resolve any and all questions, including but not limited to eligibility for benefits and interpretations of this Plan and its terms, as
may arise in connection with the Plan. Claims for benefits shall be filed with the Committee and resolved in accordance with the claims procedures in Article XII. 

 

	9.2	Administration Upon Change in Control. Upon a Change in Control, the Committee, as constituted immediately prior to such Change in Control, shall continue to act
as the Committee. The individual who was the Chief Executive Officer of the Company Parent (or if such person is unable or unwilling to act, the next highest ranking officer) prior to the Change in Control shall have the authority (but shall not be
obligated) to appoint an independent third party to act as the Committee. 

 Upon such Change in Control, the
Company may not remove the Committee, unless 2/3rds of the members of the Board of Directors of the Company Parent and a majority of Participants and Beneficiaries with Account Balances consent to the removal and replacement of the Committee.
Notwithstanding the foregoing, neither the Committee nor the officer described above shall have authority to direct investment of trust assets under any rabbi trust described in Section 11.2. 

The Participating Employer shall, with respect to the Committee identified under this Section: (i) pay all reasonable expenses and
fees of the Committee, (ii) indemnify the Committee (including individuals serving as Committee members) against any costs, expenses and liabilities including, without limitation, attorneys’ fees and expenses arising in connection with the
performance of the Committee’s duties hereunder, except with respect to matters resulting from the Committee’s gross negligence or willful misconduct, and (iii) supply full and timely information to the Committee on all matters
related to the Plan, any rabbi trust, Participants, Beneficiaries and Accounts as the Committee may reasonably require. 
  

	9.3	Withholding. The Participating Employer shall have the right to withhold from any payment due under the Plan (or with respect to any amounts credited to the
Plan) any taxes required by law to be withheld in respect of such payment (or credit). Withholdings with respect to amounts credited to the Plan shall be deducted from Compensation that has not been deferred to the Plan. 

 

	9.4	 Indemnification. The Participating Employers shall indemnify and hold harmless each employee, officer, director, agent or organization, to whom
or to which are delegated duties, responsibilities, and authority under the Plan or otherwise with respect to administration of the Plan, including, without limitation, the Committee and its agents, against all claims, liabilities, fines and
penalties, and all expenses reasonably incurred by 

  
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or imposed upon him or it (including but not limited to reasonable attorney fees) which arise as a result of his or its actions or failure to act in connection with the operation and
administration of the Plan to the extent lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by the Participating Employer. Notwithstanding the
foregoing, the Participating Employer shall not indemnify any person or organization if his or its actions or failure to act are due to gross negligence or willful misconduct or for any such amount incurred through any settlement or compromise of
any action unless the Participating Employer consents in writing to such settlement or compromise. 

  

	9.5	Delegation of Authority. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such administrative duties
as it sees fit, and may from time to time consult with legal counsel who shall be legal counsel to the Company and/or the Company Parent. 

  

	9.6	Binding Decisions or Actions. The decision or action of the Committee in respect of any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations thereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

 ARTICLE X 
 Amendment and Termination 

 

	10.1	Amendment and Termination. The Company may at any time and from time to time amend the Plan or may terminate the Plan as provided in this Article X. Each
Participating Employer may also terminate its participation in the Plan. 

  

	10.2	Amendments. The Company, by action taken by the Board of Directors of the Company Parent, may amend the Plan at any time and for any reason, provided that any
such amendment shall not reduce the vested Account Balances of any Participant accrued as of the date of any such amendment or restatement (as if the Participant had incurred a voluntary Separation from Service on such date) or reduce any rights of
a Participant under the Plan or other Plan features with respect to Deferrals made prior to the date of any such amendment or restatement without the consent of the Participant. The Compensation Committee of the Board of Directors of the Company
Parent has the authority to amend the Plan without the consent of the Board of Directors of the Company Parent for the purpose of: (i) conforming the Plan to the requirements of law; (ii) facilitating the administration of the Plan;
(iii) clarifying provisions based on the Committee’s interpretation of the document; and (iv) making such other amendments as the Board of Directors of the Company Parent may authorize. 

 

	10.3	 Termination. The Company, by action taken by the Board of Directors of the Company Parent, may terminate the Plan and pay Participants and
Beneficiaries their Account Balances in a single lump sum at any time, to the extent and in accordance with Treas. Reg. Section 1.409A-3(j)(4)(ix). If a Participating Employer terminates its participation

  
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in the Plan, the benefits of affected Employees shall be paid at the time provided in Article VI. 

  

	10.4	Accounts Taxable Under Code Section 409A. The Plan is intended to constitute a plan of deferred compensation that meets the requirements for deferral of
income taxation under Code Section 409A. The Committee, pursuant to its authority to interpret the Plan, may sever from the Plan or any Compensation Deferral Agreement any provision or exercise of a right that otherwise would result in a
violation of Code Section 409A. 

 ARTICLE XI 
 Informal Funding 
  

	11.1	General Assets. Obligations established under the terms of the Plan may be satisfied from the general funds of the Participating Employers, or a trust described
in this Article XI. No Participant, spouse or Beneficiary shall have any right, title or interest whatever in assets of the Participating Employers. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be
construed to create a trust of any kind, or a fiduciary relationship, between the Participating Employers and any Employee, spouse, or Beneficiary. To the extent that any person acquires a right to receive payments hereunder, such rights are no
greater than the right of an unsecured general creditor of the Participating Employer. 

  

	11.2	Rabbi Trust. A Participating Employer may, in its sole discretion, establish a grantor trust, commonly known as a rabbi trust, as a vehicle for accumulating
assets to pay benefits under the Plan. Payments under the Plan may be paid from the general assets of the Participating Employer or from the assets of any such rabbi trust. Payment from any such source shall reduce the obligation owed to the
Participant or Beneficiary under the Plan. 

 ARTICLE XII 

Claims 
  

	12.1	Filing a Claim. Any controversy or claim arising out of or relating to the Plan shall be filed in writing with the Committee which shall make all determinations
concerning such claim. Any claim filed with the Committee and any decision by the Committee denying such claim shall be in writing and shall be delivered to the Participant or Beneficiary filing the claim (the “Claimant”).

  

	 	(a)	 In General. Notice of a denial of benefits (other than Disability benefits) will be provided within 90 days of the Committee’s receipt of
the Claimant’s claim for benefits. If the Committee determines that it needs additional time to review the claim, the Committee will provide the Claimant with a notice of the extension before the end of the initial 90-day period. The extension
will not be more than 90 days from the end of the initial 90-day period and the notice of extension will 

  
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explain the special circumstances that require the extension and the date by which the Committee expects to make a decision. 

 

	 	(b)	Disability Benefits. Notice of denial of Disability benefits will be provided within forty-five (45) days of the Committee’s receipt of the
Claimant’s claim for Disability benefits. If the Committee determines that it needs additional time to review the Disability claim, the Committee will provide the Claimant with a notice of the extension before the end of the initial 45-day
period. If the Committee determines that a decision cannot be made within the first extension period due to matters beyond the control of the Committee, the time period for making a determination may be further extended for an additional 30 days. If
such an additional extension is necessary, the Committee shall notify the Claimant prior to the expiration of the initial 30-day extension. Any notice of extension shall indicate the circumstances necessitating the extension of time, the date by
which the Committee expects to furnish a notice of decision, the specific standards on which such entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim and any additional information needed to resolve those
issues. A Claimant will be provided a minimum of 45 days to submit any necessary additional information to the Committee. In the event that a 30-day extension is necessary due to a Claimant’s failure to submit information necessary to decide a
claim, the period for furnishing a notice of decision shall be tolled from the date on which the notice of the extension is sent to the Claimant until the earlier of the date the Claimant responds to the request for additional information or the
response deadline. 

  

	 	(c)	Contents of Notice. If a claim for benefits is completely or partially denied, notice of such denial shall be in writing and shall set forth the reasons for
denial in plain language. The notice shall: (i) cite the pertinent provisions of the Plan document, and (ii) explain, where appropriate, how the Claimant can perfect the claim, including a description of any additional material or
information necessary to complete the claim and why such material or information is necessary. The claim denial also shall include an explanation of the claims review procedures and the time limits applicable to such procedures, including a
statement of the Claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse decision on review. In the case of a complete or partial denial of a Disability benefit claim, the notice shall provide a
statement that the Committee will provide to the Claimant, upon request and free of charge, a copy of any internal rule, guideline, protocol, or other similar criterion that was relied upon in making the decision. 

 

	12.2	 Appeal of Denied Claims. A Claimant whose claim has been completely or partially denied shall be entitled to appeal the claim denial by filing a
written appeal with a committee designated to hear such appeals (the “Appeals Committee”). In the absence of any such designation, the Appeals Committee shall be the Committee. A Claimant who timely requests a review of the denied claim
(or his or her authorized representative) may review, upon request and free of charge, copies of all documents, records and other 

  
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information relevant to the denial and may submit written comments, documents, records and other information relevant to the claim to the Appeals Committee. All written comments, documents,
records, and other information shall be considered “relevant” if the information: (i) was relied upon in making a benefits determination, (ii) was submitted, considered or generated in the course of making a benefits decision
regardless of whether it was relied upon to make the decision, or (iii) demonstrates compliance with administrative processes and safeguards established for making benefit decisions. The Appeals Committee may, in its sole discretion and if it
deems appropriate or necessary, decide to hold a hearing with respect to the claim appeal. 

  

	 	(a)	In General. Appeal of a denied benefits claim (other than a Disability benefits claim) must be filed in writing with the Appeals Committee no later than 60 days
after receipt of the written notification of such claim denial. The Appeals Committee shall make its decision regarding the merits of the denied claim within 60 days following receipt of the appeal (or within 120 days after such receipt, in a case
where there are special circumstances requiring extension of time for reviewing the appealed claim). If an extension of time for reviewing the appeal is required because of special circumstances, written notice of the extension shall be furnished to
the Claimant prior to the commencement of the extension. The notice will indicate the special circumstances requiring the extension of time and the date by which the Appeals Committee expects to render the determination on review. The review will
take into account comments, documents, records and other information submitted by the Claimant relating to the claim without regard to whether such information was submitted or considered in the initial benefit determination.

  

	 	(b)	 Disability Benefits. Appeal of a denied Disability benefits claim must be filed in writing with the Appeals Committee no later than 180 days
after receipt of the written notification of such claim denial. The review shall be conducted by the Appeals Committee (exclusive of the person who made the initial adverse decision or such person’s subordinate). In reviewing the appeal, the
Appeals Committee shall: (i) not afford deference to the initial denial of the claim, (ii) consult a medical professional who has appropriate training and experience in the field of medicine relating to the Claimant’s disability and
who was neither consulted as part of the initial denial nor is the subordinate of such individual, and (iii) identify the medical or vocational experts whose advice was obtained with respect to the initial benefit denial, without regard to
whether the advice was relied upon in making the decision. The Appeals Committee shall make its decision regarding the merits of the denied claim within 45 days following receipt of the appeal (or within 90 days after such receipt, in a case where
there are special circumstances requiring extension of time for reviewing the appealed claim). If an extension of time for reviewing the appeal is required because of special circumstances, written notice of the extension shall be furnished to the
Claimant prior to the commencement of the extension. The notice will indicate the special circumstances requiring the extension of time and the date by which the Appeals Committee expects to render the determination on review. Following

  
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its review of any additional information submitted by the Claimant, the Appeals Committee shall render a decision on its review of the denied claim. 

 

	 	(c)	Contents of Notice. If a benefits claim is completely or partially denied on review, notice of such denial shall be in writing and shall set forth the reasons
for denial in plain language. 

 The decision on review shall set forth: (i) the specific reason or reasons
for the denial, (ii) specific references to the pertinent Plan provisions on which the denial is based, (iii) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all
documents, records, or other information relevant (as defined above) to the Claimant’s claim, and (iv) a statement describing any voluntary appeal procedures offered by the plan and a statement of the Claimant’s right to bring an
action under Section 502(a) of ERISA. 
  

	 	(d)	For the denial of a Disability benefit, the notice will also include a statement that the Appeals Committee will provide, upon request and free of charge: (i) any
internal rule, guideline, protocol or other similar criterion relied upon in making the decision, (ii) any medical opinion relied upon to make the decision, and (iii) the required statement under Section 2560.503-1(j)(5)(iii) of the
Department of Labor regulations. 

  

	12.3	Claims Appeals Upon Change in Control. Upon a Change in Control, the Appeals Committee, as constituted immediately prior to such Change in Control, shall
continue to act as the Appeals Committee. Upon such Change in Control, the Company may not remove any member of the Appeals Committee, but may replace resigning members if 2/3rds of the members of the Board of Directors of the Company Parent and a
majority of Participants and Beneficiaries with Account Balances consent to the replacement. 

 The Appeals
Committee shall have the exclusive authority at the appeals stage to interpret the terms of the Plan and resolve appeals under the Claims Procedure. 
 Each Participating Employer shall, with respect to the Committee identified under this Section: (i) pay its proportionate share of all reasonable expenses and fees of the Appeals Committee,
(ii) indemnify the Appeals Committee (including individual committee members) against any costs, expenses and liabilities including, without limitation, attorneys’ fees and expenses arising in connection with the performance of the Appeals
Committee hereunder, except with respect to matters resulting from the Appeals Committee’s gross negligence or willful misconduct, and (iii) supply full and timely information to the Appeals Committee on all matters related to the Plan,
any rabbi trust, Participants, Beneficiaries and Accounts as the Appeals Committee may reasonably require. 

  
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	12.4	Legal Action. A Claimant may not bring any legal action relating to a claim for benefits under the Plan unless and until the Claimant has followed the claims
procedures under the Plan and exhausted his or her administrative remedies under such claims procedures. 

 If a
Participant or Beneficiary prevails in a legal proceeding brought under the Plan to enforce the rights of such Participant or any other similarly situated Participant or Beneficiary, in whole or in part, the Participating Employer shall reimburse
such Participant or Beneficiary for all legal costs, expenses, attorneys’ fees and such other liabilities incurred as a result of such proceedings. If the legal proceeding is brought in connection with a Change in Control, or a “change in
control” as defined in a rabbi trust described in Section 11.2, the Participant or Beneficiary may file a claim directly with the trustee for reimbursement of such costs, expenses and fees. For purposes of the preceding sentence, the
amount of the claim shall be treated as if it were an addition to the Participant’s or Beneficiary’s Account Balance. 
  

	12.5	Discretion of Appeals Committee. All interpretations, determinations and decisions of the Appeals Committee with respect to any claim shall be made in its sole
discretion, and shall be final and conclusive. 

 ARTICLE XIII 

General Provisions 
  

	13.1	Assignment. No interest of any Participant, spouse or Beneficiary under this Plan and no benefit payable hereunder shall be assigned as security for a loan, and
any such purported assignment shall be null, void and of no effect, nor shall any such interest or any such benefit be subject in any manner, either voluntarily or involuntarily, to anticipation, sale, transfer, assignment or encumbrance by or
through any Participant, spouse or Beneficiary. Notwithstanding anything to the contrary herein, however, the Committee has the discretion to make payments to an alternate payee in accordance with the terms of a domestic relations order (as defined
in Code Section 414(p)(1)(B)). 

 The Company may assign any or all of its liabilities under this Plan in
connection with any restructuring, recapitalization, sale of assets or other similar transactions affecting a Participating Employer without the consent of the Participant. 

 

	13.2	No Legal or Equitable Rights or Interest. No Participant or other person shall have any legal or equitable rights or interest in this Plan that are not expressly
granted in this Plan. Participation in this Plan does not give any person any right to be retained in the service of the Participating Employer. The right and power of a Participating Employer to dismiss or discharge an Employee is expressly
reserved. The Participating Employers make no representations or warranties as to the tax consequences to a Participant or a Participant’s beneficiaries resulting from a deferral of income pursuant to the Plan. 

 

	13.3	No Employment Contract. Nothing contained herein shall be construed to constitute a contract of employment between an Employee and a Participating Employer.

  
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	13.4	Notice. Any notice or filing required or permitted to be delivered to the Committee under this Plan shall be delivered in writing, in person, or through such
electronic means as is established by the Committee. Notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. Written transmission
shall be sent by certified mail to: 

 HORIZON PHARMA, INC. 

ATTN: VP, HUMAN RESOURCES 
 520 LAKE COOK ROAD 
 SUITE 520 

DEERFIELD, IL 60015 
 Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing or hand-delivered, or sent by mail to the last known address of the Participant.

  

	13.5	Headings. The headings of Sections are included solely for convenience of reference, and if there is any conflict between such headings and the text of this
Plan, the text shall control. 

  

	13.6	Invalid or Unenforceable Provisions. If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect
any other provisions hereof and the Committee may elect in its sole discretion to construe such invalid or unenforceable provisions in a manner that conforms to applicable law or as if such provisions, to the extent invalid or unenforceable, had not
been included. 

  

	13.7	Lost Participants or Beneficiaries. Any Participant or Beneficiary who is entitled to a benefit from the Plan has the duty to keep the Committee advised of his
or her current mailing address. If benefit payments are returned to the Plan or are not presented for payment after a reasonable amount of time, the Committee shall presume that the payee is missing. The Committee, after making such efforts as in
its discretion it deems reasonable and appropriate to locate the payee, shall stop payment on any uncashed checks and may discontinue making future payments until contact with the payee is restored. 

 

	13.8	Facility of Payment to a Minor. If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Committee may, in its
discretion, make such distribution: (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his or her residence, or (ii) to the conservator or committee or, if none, to the person having custody
of an incompetent payee. Any such distribution shall fully discharge the Committee, the Company, and the Plan from further liability on account thereof. 

  

	13.9	Governing Law. To the extent not preempted by ERISA, the laws of the State of Illinois shall govern the construction and administration of the Plan.

  
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 IN WITNESS WHEREOF, the undersigned executed this Plan as of the 24 day of March, 2015, to be
effective as of the Effective Date. 
 Horizon Pharma, Inc. 
 By: Paul W. Hoelscher (Print Name) 
 Its: EVP, Chief Financial Officer (Title)

 /s/ Paul W. Hoelscher (Signature) 

  
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