Document:

Exhibit 10.48

 

IKARIA, INC.

 

Restricted Stock Unit Agreement (Time Vested)

Amended and Restated 2010 Long Term Incentive Plan

 

NOTICE OF GRANT

 

This
Restricted Stock Unit Agreement (this “Agreement”) is made as of the
Agreement Date between Ikaria, Inc. (the “Company”), a Delaware
corporation, and the Participant.

 

	
  I.

  	
  Agreement
  Date

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  September 10, 2010

  
	
   

  	
   

  	
   

  
	
  II.

  	
  Participant Information

  
	
   

  	
   

  
	
   

  	
  Participant:

  	
  Craig Tooman

  
	
   

  	
   

  
	
  III.

  	
  Grant
  Information

  
	
   

  	
   

  
	
   

  	
  Grant Date:

  	
  September 7, 2010

  
	
   

  	
  Restricted Stock Units:

  	
  50,000

  
	
   

  	
   

  
	
  IV.

  	
  Vesting
  Table

  
	
   

  	
   

  
	
   

  	
  Vesting Date

  	
   

  	
  RSUs that Vest

  	
   

  	
   

  
	
   

  	
  July 28, 2011

  	
   

  	
  100

  	
  %

  	
   

  
								

 

This
Agreement includes this Notice of Grant and the following Exhibits, which are
expressly incorporated by reference in their entirety herein:

 

Exhibit A
— General Terms and Conditions

Exhibit B
— Investment Representations

Exhibit C
— Common Stockholders Agreement

Exhibit D
— Confidentiality and Noncompetition Agreement

Exhibit E
— Amended and Restated 2010 Long Term Incentive Plan

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
Agreement Date.

 

 

	
  IKARIA, INC.

  	
   

  	
  PARTICIPANT

  
	
   

  	
   

  	
   

  
	
  /s/
  Matthew M. Bennett

  	
   

  	
  /s/
  Craig Tooman

  
	
  Matthew
  M. Bennett

  	
   

  	
  Craig
  Tooman

  
	
  Senior
  Vice President and Secretary

  	
   

  	
   

  

 

1

 

Restricted Stock Unit
Agreement (Time Vested)

Amended and Restated 2010
Long Term Incentive Plan

 

EXHIBIT A

 

GENERAL TERMS AND CONDITIONS

 

For
valuable consideration, receipt of which is acknowledged, the parties hereto
agree as follows:

 

1.                                       Grant of RSUs; Condition of Grant.

 

1.1                                 Grant of RSUs.  In consideration of services rendered to the
Company by the Participant, the Company has granted to the Participant, subject
to the terms and conditions set forth in this Agreement and in the Company’s
Amended and Restated 2010 Long Term Incentive Plan (the “Plan”), an award of Restricted Stock Units (the “RSUs”),
representing an award of the number of RSUs (the “Share Number”) set
forth in the Notice of Grant that forms part of this Agreement (the “Notice
of Grant”).  The RSUs entitle the
Participant to receive, upon and subject to the vesting of the RSUs (as
described in Section 2 below), one share of non-voting common stock, $0.01
par value per share, of the Company (the “Common Stock”) for each RSU that
vests.  The shares of Common Stock that
are issuable upon vesting of the RSUs are referred to in this Agreement as the “Shares.”  Effective upon the consummation of an Initial
Public Offering (as defined in the Plan) or any other conversion of all of the
outstanding shares of the Company’s non-voting common stock into voting common
stock, the RSUs shall automatically convert and represent the right to receive
upon vesting Company voting common stock without any further action on the part
of the Company or the Participant (with the terms “Share Number”, “Shares”, “Common
Stock” and the like as used herein referring to such Company voting common
stock after the date of any such Initial Public Offering or other conversion).

 

1.2                                 Condition of Grant.  It shall be a condition to the acceptance of
this RSU by the Participant that the Participant execute and deliver to the
Company with the executed Notice of Grant (i) the Investment
Representations attached as Exhibit B, and (ii) the
counterpart signature page to the Company’s Common Stockholders Agreement,
as it may be amended from time to time and attached as Exhibit C,
with both such executed documents (the “Execution Documents”) being held
in escrow by the Company until such time, if ever, that the RSUs vest pursuant
to this Agreement, at which time such Execution Documents shall become
effective immediately and automatically without any further action on the part
of the Company or the Participant.  It is
a further condition to the acceptance of this RSU by the Participant that the
Participant acknowledge and agree to be bound by the provisions set forth in
the Confidentiality and Noncompetition Agreement attached hereto as Exhibit D.

 

2.                                       Vesting of the RSUs; Issuance of Shares.

 

2.1                                 Vesting of the RSUs.  Subject to the other provisions of this Section 2,
the RSUs shall vest in accordance with the Vesting Table set forth in the
Notice of Grant (the “Vesting Table”). 
Any fractional RSU resulting from the application of the percentages in
the Vesting Table shall be rounded down to the nearest whole number of
RSUs.  Within thirty days of each vesting
date shown in the Vesting Table (the “Vesting Dates”), the Company will
issue to the Participant, in certificated or uncertificated form, such number
of Shares as is equal to the 

 

2

 

number of RSUs that vested on
such Vesting Date and shall deliver such Shares to the Participant, or to the
broker designated by the Participant.  It
shall be a condition to the vesting of the RSUs on the Vesting Date that the
Execution Documents remain valid, binding and enforceable in all respects.

 

2.2                                 Employment Termination.

 

(a)                                  Termination of the Participant.  Except to the
extent specifically otherwise provided in another agreement between the
Particpant and the Company, upon the termination of the Participant’s
employment with the Company for any reason or no reason, all RSUs that
have not vested pursuant to Section 2(a) shall be automatically
forfeited as of such termination.

 

(b)                                 Employment with Affiliated or Successor Companies.  For purposes of this Agreement,
employment with the Company shall include employment with a parent or
subsidiary of the Company, or any successor to the Company.

 

3.                                       Dividends.  The RSUs shall have no rights with respect to
dividends declared by the Company with respect to its capital stock, provided
that the foregoing shall not prohibit or otherwise limit the adjustment of the
terms of this Agreement in accordance with Section 13 of the Plan.

 

4.                                       Withholding Taxes.

 

4.1                                 Participant acknowledges that he or she has reviewed with his or her own
tax advisors the federal, state, local and foreign tax consequences of this
investment and the actions contemplated by this Agreement.  Participant affirms that he or she is relying
solely on such advisors and not on any statements or representations of the
Company or any of its agents.

 

4.2                                 The Company’s obligation to deliver Shares to Participant upon or after
the vesting of the RSUs shall be subject to Participant’s satisfaction of all
income tax (including federal, state and local taxes), social insurance,
payroll tax, or other tax related withholding requirements associated with or
related to the grant, vesting or delivery of the Shares (“Withholding Taxes”).

 

4.3                                 Participant acknowledges and agrees that the Company has the right to
deduct from payments of any kind otherwise due to the Participant the amount of
any Withholding Taxes required to be withheld with respect to the actions
contemplated by this Agreement in any manner permitted by the Plan.  As soon as practicable following the closing
of the Company’s Initial Public Offering, the Participant shall provide a
designated broker with irrevocable instructions directing the designated broker
to, on the date of the designated broker’s receipt of any Shares in accordance
with Section 2(a), sell in accordance with ordinary principles of best
execution that number of such Shares as is necessary to yield net proceeds to
the Participant equal to the amount Withholding Taxes with respect to the
income recognized by the Participant as a result of the vesting of such Shares
(based on the minimum statutory withholding rates for all tax purposes,
including payroll and social security taxes, that are applicable to such
income) and remit such proceeds to the Company in satisfaction of such tax
withholding obligations of the Company.

 

3

 

5.                                       Restrictions on Transfer.  The RSUs, and any interest therein, are
subject to the restrictions on transfer set forth in the Plan.  The Shares issued upon vesting of this RSU
are subject to the restrictions on transfer set forth in the Common
Stockholders Agreement attached hereto as Exhibit C.

 

6.                                       Effect of Transaction.

 

6.1                                 In connection with a Transaction (as defined in the Plan), the
Compensation Committee of the Board of Directors (the “Committee”) may take any
one or more of the following actions with respect to the RSUs on such terms as
the Committee determines (except to the extent specifically otherwise provided
in another agreement between the Company and the Participant):  (i) provide that outstanding RSUs shall
become vested and deliverable in whole or in part prior to or upon such
Transaction, (ii) provide that the RSUs shall be assumed, or substantially
equivalent RSUs shall be substituted, by the acquiring or succeeding
corporation (or an affiliate thereof), (iii) in the event of a Transaction
under the terms of which holders of Common Stock will receive upon consummation
thereof a cash payment for each share surrendered in the Transaction (the “Acquisition
Price”), make or provide for a cash payment to Participant with respect to
each RSU held by a Participant equal to (A) the number of shares of Common
Stock that vest upon or immediately prior to such Transaction multiplied by (B) the
excess of (I) the Acquisition Price over (II) any applicable tax
withholdings, in exchange for the termination of such Award, (iv) provide
that, in connection with a liquidation or dissolution of the Company, the RSUs
shall convert into the right to receive liquidation proceeds (if applicable,
net of any applicable tax withholdings), (v) any other action permitted
under the Plan and (vi) any combination of the foregoing.  In taking any of the actions permitted under
this Section 6(a), the Board shall not be obligated by the Plan or this
Agreement to treat all Awards under the Plan, all Awards held by Participant,
or all Awards of the same type, identically.

 

6.2                                 Notwithstanding the terms of Section 6.1, in the case of outstanding
RSUs that are subject to Section 409A of the Internal Revenue Code and the
guidance thereunder (“Section 409A”): (i) if another agreement
between the Participant and the Company provides that the RSUs shall be settled
upon a “change in control event” within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(i),
and the Transaction constitutes such a “change in control event”, then no
assumption or substitution shall be permitted pursuant to Section 6(a)(ii) and
the RSUs shall instead be settled in accordance with the terms of the
applicable agreement; and (ii) the Committee may only undertake the
actions set forth in clauses (i), (iii), (iv) or (v) of Section 6(a) if
the Transaction constitutes a “change in control event” as defined under
Treasury Regulation Section 1.409A-3(i)(5)(i) and such action is
permitted or required by Section 409A of the Code; if the Transaction is
not a “change in control event” as so defined or such action is not permitted
or required by Section 409A of the Code, and the acquiring or succeeding
corporation does not assume or substitute the RSUs pursuant to clause (ii) of
Section 6(a), then the unvested RSUs shall terminate immediately prior to
the consummation of the Transaction without any payment in exchange therefor.

 

6.3                                 For purposes of Section 6.1(ii), the RSU shall be considered assumed
if, following consummation of the Transaction, such award confers the right to
receive pursuant to the terms of such award, for each share of Common Stock
subject to the RSU immediately prior to the consummation of the Transaction,
the consideration (whether cash, securities or other property) received as a
result of the Transaction by holders of Common Stock for each share of Common
Stock held immediately prior to the consummation of the Transaction (and if
holders 

 

4

 

were offered a choice of
consideration, the type of consideration chosen by the holders of a majority of
the outstanding shares of Common Stock); provided, however,
that if the consideration received as a result of the Transaction is not solely
common stock of the acquiring or succeeding corporation (or an affiliate
thereof), the Company may, with the consent of the acquiring or succeeding
corporation, provide for the consideration to be received upon the exercise or
settlement of the award to consist solely of such number of shares of common
stock of the acquiring or succeeding corporation (or an affiliate thereof) that
the Committee determined to be equivalent in value (as of the date of such
determination or another date specified by the Committee) to the per share
consideration received by holders of outstanding shares of Common Stock as a
result of the Transaction.

 

7.                                       Confidential Information; Noncompetition; Work Product.  By accepting this RSU,
Participant is hereby acknowledging and agreeing to the provisions set forth in
the Confidentiality and Noncompetition Agreement attached hereto as Exhibit D
related to confidential information, noncompetition and work product.  Without limitation to any other remedies
available under law or those set forth in Exhibit D, the
Participant agrees that if Participant breaches any of the provisions of Exhibit D,
then (i) the Participant shall not be entitled to any further vesting of
this RSU, (ii) any Shares acquired by the Participant upon vesting of this
RSU that continue to be held by the Participant shall be required to be
surrendered immediately and automatically to the Company in exchange for no
consideration and (iii) if the Participant acquired any Shares upon the
vesting of this RSU and the Participant has sold, transferred or otherwise
disposed of such Shares, then the Participant shall be required to pay to the
Company, in cash, within 30 days of a written request by the Company for such
payment, the amount for which the Participant sold the Shares.

 

8.                                       Miscellaneous.

 

8.1                                 No Rights to Employment.  The Participant acknowledges and agrees that
the grant of the RSUs and their vesting pursuant to Section 2 do not constitute
an express or implied promise of continued employment for the vesting period of
the RSUs, or for any period.

 

8.2                                 Section 409A.  This Agreement is intended to comply with or
be exempt from the requirements of Section 409A and shall be construed consistently
therewith.  In any event, the Company
makes no representations or warranties and will have no liability to the
Participant or to any other person, if any of the provisions of or payments
under this Agreement are determined to constitute nonqualified deferred
compensation subject to Section 409A but that do not satisfy the
requirements of that Section.

 

8.3                                 Entire Agreement.  This Agreement and the Plan constitute the
entire agreement between the parties, and supersede all prior agreements and understandings,
relating to the subject matter of this Agreement; provided that any separate
employment or severance agreement between the Company and the Participant that
includes terms relating to the acceleration of vesting of equity awards shall
not be superseded by this Agreement.  In
the event of a conflict between the terms and provisions of the Plan and the
terms and provisions of this Agreement, the Plan terms and provisions shall
prevail.

 

8.4                                 Governing Law.  This Agreement shall be construed, interpreted
and enforced in accordance with the internal laws of the State of Delaware,
without regard to any applicable conflict of law principles.

 

5

 

8.5                                 Interpretation.  The interpretation and construction of any
terms or conditions of the Plan or this Agreement by the Compensation Committee
shall be final and conclusive.

 

6

 

EXHIBIT B

 

INVESTMENT REPRESENTATIONS

 

Dear
Sir or Madam:

 

I am the holder of Restricted Stock Units granted to
me under the Ikaria, Inc. (the “Company”) Amended and Restated 2010
Long Term Incentive Plan on September 7, 2010 representing the right to receive
50,000 shares of Common Stock of the Company (the “Shares”) subject to
the satisfaction of the terms and conditions set forth in the Agreement.

 

I
represent, warrant and covenant as follows as of the date hereof and as of each
Vesting Date:

 

1.               In addition to any other
limitation on transfer created by applicable securities laws, I shall not
assign, encumber or dispose of any interest in the Shares except in compliance
with the Common Stockholders Agreement and applicable securities laws.

 

2.               I am acquiring the Shares
for my own account for investment only, and not with a view to, or for sale in
connection with, any distribution of the Shares in violation of the Securities
Act of 1933 (the “Securities Act”), or any rule or regulation under the
Securities Act.

 

3.               I have had such opportunity
as I have deemed adequate to obtain from representatives of the Company such
information as is necessary to permit me to evaluate the merits and risks of my
investment in the Company.

 

4.               I have sufficient experience
in business, financial and investment matters to be able to evaluate the risks
involved in the purchase of the Shares and to make an informed investment
decision with respect to such purchase.

 

5.               I can afford a complete loss
of the value of the Shares and am able to bear the economic risk of holding
such Shares for an indefinite period.

 

6.               I understand that (i) the
Shares have not been registered under the Securities Act and are “restricted
securities” within the meaning of Rule 144 under the Securities Act, (ii) the
Shares cannot be sold, transferred or otherwise disposed of unless they are
subsequently registered under the Securities Act or an exemption from
registration is then available; (iii) in any event, the exemption from
registration under Rule 144 will not be available for at least one year
and even then will not be available unless a public market then exists for the
Common Stock, adequate information concerning the Company is then available to
the public, and other terms and conditions of Rule 144 are complied with;
and (iv) there is now no registration statement on file with the
Securities and Exchange Commission with respect to any stock of the Company and
the Company has no obligation or current intention to register the Shares under
the Securities Act.

 

7.               I understand that the
certificate or certificates representing the Shares shall bear the following
legends (as well as any other legends required by applicable state and federal
corporate and securities laws):

 

7

 

(i)             THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR
INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
DISTRIBUTION THEREOF.  NO SUCH SALE OR
DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO OR AN OPINION OF COUNSEL FOR THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

 

(ii)          THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE
TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE
COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF
THE COMPANY.

 

8.               I agree and
acknowledge that, in order to ensure compliance with the restrictions referred
to herein, the Company may issue appropriate “stop transfer” instructions to
its transfer agent, if any, and that, if the Company transfers its own
securities, it may make appropriate notations to the same effect in its own
records.

 

9.               I understand
and acknowledge that the Company shall not be required (i) to transfer on
its books any Shares that have been sold or otherwise transferred in violation
of any of the provisions of this Agreement or (ii) to treat as owner of
such Shares or to accord the right to vote or pay dividends to any purchaser or
other transferee to whom such Shares have been so transferred.

 

	
  Very
  truly yours,

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Craig Tooman

  	
   

  	
   

  
	
  Craig
  Tooman

  	
   

  	
   

  

 

8

 

EXHIBIT C

 

IKARIA, INC.

COMMON STOCKHOLDERS AGREEMENT

 

NOTE:  THE FOLLOWING SHEET IS A COUNTERPART SIGNATURE
PAGE TO THE COMPANY’S COMMON STOCKHOLDERS AGREEMENT, WHICH MUST ALSO BE SIGNED
AND RETURNED TO THE COMPANY IN ORDER TO ACCEPT YOUR RESTRICTED STOCK UNIT
PURSUANT TO SECTION 1 OF THE RESTRICTED STOCK UNIT AGREEMENT.

 

IF
YOU ARE MARRIED YOUR SPOUSE MUST ALSO SIGN THE COUNTERPART SPOUSAL CONSENT
TO THE COMMON STOCKHOLDERS AGREEMENT.

 

9

 

IN
WITNESS WHEREOF, this Common Stockholders Agreement has been signed by or on
behalf of each of the parties hereto, all as of the date first above written.

 

	
   

  	
   

  	
  INDIVIDUAL
  STOCKHOLDER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Craig Tooman

  
	
   

  	
   

  	
  Name:
  Craig Tooman

  

 

[SIGNATURE PAGE TO IKARIA, INC. COMMON STOCKHOLDERS AGREEMENT]

 

10

 

The
undersigned acknowledges that the undersigned has read the foregoing Common
Stockholders Agreement between the Company and the undersigned’s spouse,
understands that the undersigned’s spouse holds shares of Common Stock subject
to the provisions of such Agreement and agrees to be bound by the foregoing
Agreement.

 

	
   

  	
  N/A
  - Legally Separated

  
	
   

  	
  Spouse
  Of: Craig Tooman

  

 

[SIGNATURE PAGE TO IKARIA, INC. COMMON STOCKHOLDERS AGREEMENT]

 

11

 

See
Common Stockholders Agreement among Ikaria, Inc. and the stockholders
listed on the signature pages thereto, dated as of February 22, 2007,
as amended filed as exhibit 4.2 to Ikaria Inc.’s Amendment No. 4 to its
Registration Statement on Form S-1 filed on October 22, 2010.

 

12

 

EXHIBIT D

 

CONFIDENTIALITY AND NONCOMPETITION AGREEMENT

 

I.                                         The Participant
acknowledges that the Participant’s employment by or other service to the
Company will, throughout such employment or service period, bring the
Participant into close contact with the confidential affairs of the Company and
its subsidiaries, including access to information about their client and
customer lists and information concerning proprietary manufacturing
formulations and processes, costs, profits, real estate, markets, sales,
products, key personnel, pricing policies, operational methods, patents,
research and development, technical processes, and other business affairs and
methods, plans for future product development and other information not readily
available to the public.  The Participant
further acknowledges that the services to be performed by the Participant are
of a special, unique, unusual, extraordinary and intellectual character.  The Participant further acknowledges that the
business of the Company and its subsidiaries is international in scope, that
their products are marketed throughout the world, that the Company and its
subsidiaries competes in nearly all of their business activities with other
entities that are or could be located in nearly any part of the world and that
the nature of the Participant’s services, position and expertise are such that
the Participant is capable of competing with the Company and its subsidiaries
from nearly any location in the world. 
In recognition of the foregoing, the Participant covenants and agrees:

 

1.  For Participants Resident in States Other
Than California, Wisconsin, Texas, and Louisiana:

 

(a)                                  The
Participant, at all times while the Participant is an employee of or service
provider to the Company and thereafter, shall hold in a fiduciary capacity for
the benefit of the Company all secret, trade, proprietary or confidential
information, knowledge or data relating to the Company or any of its affiliated
companies and shareholders, and their respective businesses, that the Participant
obtains during the Participant’s employment by the Company or any of its
affiliated companies and that is not public knowledge (other than as a result
of the Participant’s violation of this Section (a)) (“Confidential
Information”).  The Participant shall
not communicate, divulge or disseminate Confidential Information at any time
during or after the Participant’s employment with or service to the Company,
except with the prior written consent of the Company or as otherwise required
by law or legal process.  Nothing in this
paragraph diminishes or limits any protection granted by law to trade secrets
or relieves Employee of any duty not to disclose, use, or misappropriate any
information that is a trade secret, for as long as such information remains a
trade secret.

 

(b)                                 During the “Noncompetition
Period,” the Participant shall not, without the prior written consent of the
Board, engage in or become associated with a “Competitive Activity.”  For purposes of these provisions:  (i) the
“Noncompetition Period” means the period commencing on the Grant Date
(set forth in the Notice of Grant) and ending on the twelve-month anniversary
of the date upon which Participant’s employment with or service to the Company
is terminated for any reason (the “Date of Termination”); (ii) a “Competitive
Activity” means any business or other endeavor that engages in clinical or
pre- clinical research or development, manufacturing, marketing, sales, or
commercialization of products or services that directly or indirectly compete
with, or are a therapeutic alternative to, either (x) the products of, or
services engaged in by, the Company or any of its subsidiaries at the Date of
Termination in any 

 

13

 

geographic
location in the United States or, if different, the country in which the
Participant primarily performs services for the Company or (y) the products
proposed to be developed or commercialized, or services proposed to be engaged
in, by the Company or any of its subsidiaries at the Date of Termination in any
geographic location in the United States or, if different, the country in which
the Participant primarily performs services for the Company (provided that
clause (y) shall apply only to any proposed business activity as to which the
Company or any of its subsidiaries has devoted significant and documented
efforts at the Date of Termination, whether internally or through acquisition,
licensing or other business development activities); provided, however, that
the Participant shall not be engaged in a Competitive Activity if the
Participant is providing services to a division or subsidiary of a
multi-division entity or holding company, so long as no division or subsidiary
to which the Participant provides services is in competition with the Company
or its subsidiaries, and the Participant does not otherwise engage in a
Competitive Activity on behalf of the multi-division entity or any competing
division or subsidiary; and (iii) the Participant shall be considered to have
become “associated with a Competitive Activity” if the Participant
becomes directly or indirectly involved as an owner, investor (other than a
passive stockholder of less than five percent (5%) of a corporation the
securities of which are traded on a national securities exchange), employee,
officer, director, consultant, independent contractor, agent, partner, advisor,
or in any other capacity in a role where Participant may draw upon the goodwill
of the Company or where Participant’s knowledge of the Confidential Information
of the Company is likely to affect Participant’s decisions or actions with
regard to the Competitive Activity, to the detriment of Company.

 

(c)                                  During the
Noncompetition Period, the Participant shall not, on the Participant’s own behalf
or on behalf of any other person, firm or entity (x) directly or indirectly
hire, solicit, induce or attempt to solicit or induce any employee of the
Company or any of its subsidiaries to terminate his employment with the Company
or any of its subsidiaries, or to provide any assistance whatsoever to any
person, firm or entity engaged in a Competitive Activity, or (y) directly or
indirectly induce any business, entity or person with which the Company or any
of their subsidiaries has a business relationship to terminate or alter such
business relationship.

 

(d)                                 In addition to
such other rights and remedies as the Company may have at equity or in law with
respect to any breach of these provisions, if the Participant commits a
material breach of any of these provisions, the Company shall have the right to
seek to have such provisions specifically enforced by any court having equity
jurisdiction (without any obligation to post a bond or other security); it
being acknowledged and agreed that any such breach or threatened breach will
cause irreparable injury to the Company and that money damages alone will not
provide an adequate remedy to the Company.

 

(e)                                  The Participant
acknowledges that while the Participant is an employee of or service provider
to the Company, the Participant may conceive of, discover, invent or create
inventions, improvements, new contributions, literary property, computer
programs and software material, ideas and discoveries, whether patentable or
copyrightable or not (all of the foregoing being collectively referred to
herein as “Work Product”), and that various business opportunities shall
be presented to the Participant by reason of the Participant’s employment by
the Company.  The Participant
acknowledges that all of the foregoing shall be owned by and belong exclusively
to the Company and that the Participant shall have no personal interest therein
and the Participant does hereby assign all rights, title and interest therein
to the Company; provided that

 

14

 

they
are either related in any manner to the business (commercial or experimental)
of the Company or any of its subsidiaries, or are, in the case of Work Product,
conceived or made on the Company’s time or with the use of the Company’s
facilities or materials, or, in the case of business opportunities, are
presented to the Participant for the possible interest or participation of the
Company or any of its subsidiaries.  The
Participant agrees that the Participant will not assert any rights to any Work
Product or business opportunity as having been made or acquired by the
Participant prior to the date hereof.

 

(f)                                    The Participant
acknowledges and agrees that these provisions are necessary to protect the
business operations and affairs of the Company and its subsidiaries.  The Participant understands that the
restrictions set forth in these provisions may limit the Participant’s ability
to earn a livelihood in a business similar that of the Company, but the
Participant nevertheless believes that the Participant has received and will
receive sufficient consideration and other benefits as an employee of or
service provider to the Company, including without limitation, the option
granted by the Company and memorialized in the Agreement to which these
provisions are attached, to justify clearly such restrictions which, in any
event (given the Participant’s education, skills and ability), the Participant
does not believe would prevent the Participant from earning a livelihood.

 

                                                2.  For Participants Resident in California:

 

(a)                                  The
Participant, at all times while the Participant is an employee of or service
provider to the Company and thereafter, shall hold in a fiduciary capacity for
the benefit of the Company all secret, trade, proprietary or confidential
information, knowledge or data relating to the Company or any of its
subsidiaries companies and shareholders, and their respective businesses, that
the Participant obtains during the Participant’s employment by the Company or
any of its subsidiaries and that is not public knowledge (other than as a
result of the Participant’s violation of this Section (a)) (“Confidential
Information”).  The Participant shall
not communicate, divulge or disseminate Confidential Information at any time
during or after the Participant’s employment with or service to the Company,
except with the prior written consent of the Company or as otherwise required
by law or legal process.

 

(b)                                 During the “Noncompetition
Period,” the Participant shall not, without the prior written consent of the
Board, engage in or become associated with a “Competitive Activity.”  For purposes of these provisions:  (i) the
“Noncompetition Period” means the period commencing on the Grant Date
(set forth in the Notice of Grant) and ending on the date upon which
Participant’s employment with or service to the Company is terminated for any
reason (the “Date of Termination”); (ii) a “Competitive Activity”
means any business or other endeavor that engages in clinical or pre- clinical
research or development, manufacturing, marketing, sales, or commercialization
of products or services that directly or indirectly compete with, or are a
therapeutic alternative to, either (x) the products of, or services engaged in
by, the Company or any of its subsidiaries during the Noncompetition Period in
any geographic location in the United States or, if different, the country in
which the Participant primarily performs services for the Company or (y) the
products proposed to be developed or commercialized, or services proposed to be
engaged in, by the Company or any of its subsidiaries during the Noncompetition
Period in any geographic location in the United States or, if different, the
country in which the Participant primarily performs services for the Company (provided
that clause (y) shall apply only to any 

 

15

 

proposed
business activity as to which the Company or any of its subsidiaries has
devoted significant and documented efforts during the Noncompetition Period,
whether internally or through acquisition, licensing or other business
development activities); provided, however, that the Participant shall not be
engaged in a Competitive Activity if the Participant is providing services to a
division or subsidiary of a multi-division entity or holding company, so long
as no division or subsidiary to which the Participant provides services is in
competition with the Company or its subsidiaries, and the Participant does not
otherwise engage in a Competitive Activity on behalf of the multi-division
entity or any competing division or subsidiary; and (iii) the Participant shall
be considered to have become “associated with a Competitive Activity” if the
Participant becomes directly or indirectly involved as an owner, investor
(other than a passive stockholder of less than five percent (5%) of a
corporation the securities of which are traded on a national securities
exchange), employee, officer, director, consultant, independent contractor,
agent, partner, advisor, or in any other capacity calling for the rendition of
the Participant’s personal services, with any individual, partnership,
corporation or other organization that is engaged directly or indirectly in a
Competitive Activity.

 

(c)                                  During both the
Noncompetition Period and the twelve-month period following the Date of
Termination, the Participant shall not, on the Participant’s own behalf or on
behalf of any other person, firm or entity, directly or indirectly, solicit,
induce or attempt to solicit or induce any employee of the Company or any of
its subsidiaries to terminate his employment with the Company or any of its
subsidiaries, or to provide any assistance whatsoever to any person, firm or
entity engaged in a Competitive Activity. 
During the Noncompetition Period, the Participant shall not directly or
indirectly induce any business, entity or person with which the Company or any
of its subsidiaries has a business relationship to terminate or alter such
business relationship.

 

(d)                                 In addition to
such other rights and remedies as the Company may have at equity or in law with
respect to any breach of these provisions, if the Participant commits a
material breach of any of these provisions, the Company shall have the right to
seek to have such provisions specifically enforced by any court having equity
jurisdiction (without any obligation to post a bond or other security); it
being acknowledged and agreed that any such breach or threatened breach will
cause irreparable injury to the Company and that money damages alone will not
provide an adequate remedy to the Company.

 

(e)                                  The Participant
Employee agrees to assign and does hereby assign to the Company (or any person
or entity designated by the Company) all his/her right, title and interest in
and to all inventions, improvements, new contributions, literary property,
computer programs and software material, ideas and discoveries, whether
patentable or copyrightable or not (all of the foregoing being collectively
referred to herein as “Work Product”) and all related patents, patent
applications, copyrights and copyright applications to the maximum extent
permitted by Section 2870 of the California Labor Code or any like statute of
any other state.  The Participant hereby also waives all claims to moral
rights in any Work Product.  The Participant understands that the
provisions of this Agreement requiring assignment of Work Product to the
Company do not apply to any invention which qualifies fully under the
provisions of California Labor Code Section 2870 (attached hereto as Appendix
A).  The Participant agrees to advise the Company promptly in writing
of any invention that he/she believes meets the criteria in Section 2870 and is
not otherwise disclosed on Appendix B.

 

16

 

(f)                                    The Participant
acknowledges and agrees that these provisions are necessary to protect the
business operations and affairs of the Company and its subsidiaries.  The Participant understands that the
restrictions set forth in these provisions may limit the Participant’s ability
to earn a livelihood in a business similar that of the Company, but the
Participant nevertheless believes that the Participant has received and will
receive sufficient consideration and other benefits as an employee of or
service provider to the Company, including without limitation, the option
granted by the Company and memorialized in the Agreement to which these
provisions are attached, to justify clearly such restrictions which, in any
event (given the Participant’s education, skills and ability), the Participant
does not believe would prevent the Participant from earning a livelihood.

 

3.                                       For
Participants Resident in Wisconsin and Texas

 

(a)                                  Company will
provide Participant with access to secret, trade, proprietary or confidential
information relating to Company and its subsidiaries and shareholders that is
not readily available outside Company or its subsidiaries and that Company and
its subsidiaries take steps to protect (“Confidential Information”).  (“Confidential Information” shall not include
information that Participant can prove (i) was in the public domain, being
publicly and openly known through lawful and proper means, (ii) was
independently developed or acquired by Participant without reliance in any way
on other Confidential Information of Company or any subsidiary or (iii) was
approved by Company for use and disclosure by Participant without
restriction.)  The Participant shall not
communicate, divulge, or disseminate Confidential Information where such
disclosure would be detrimental to the interests of Company (except as required
by law), but only for so long as such Confidential Information continues to be
not generally known to, and not readily ascertainable through proper means by,
Company’s competitors.  The promises
contained in this paragraph are not intended to preclude Participant from being
gainfully employed by another or on his or her own, but are intended to
prohibit him or her from using the confidential or proprietary information
described herein in a manner that is not for the financial benefit of
Company.  Nothing in this paragraph
diminishes or limits any protection granted by law to trade secrets or relieves
Employee of any duty not to disclose, use, or misappropriate any information
that is a trade secret, for as long as such information remains a trade secret.

 

(b)                                 Independent of
any other restriction, the Participant during the “Noncompetition Period” shall
not, for him(her)self, or on behalf of any other person or entity, directly or
indirectly provide services to a “Direct Competitor” in a role where
Participant will be expected to draw upon the customer goodwill he gained while
with Company or where Participant’s knowledge of “Confidential Information” is
likely to affect Participant’s decisions or actions for the Direct Competitor
to the detriment of Company.  For
purposes of this provision:  (i) the “Noncompetition Period”
means the period commencing on the Grant Date (set forth in the Notice of
Grant) and ending on the twelve-month anniversary of the date upon which
Participant’s employment with or service to the Company is terminated for any
reason (the “Date of Termination”); (ii) a “Direct Competitor”
means any business or other endeavor that engages in clinical or pre- clinical
research or development, manufacturing, marketing, sales, or commercialization
of “Competitive Products or Services” in any geographic location in the United
States (except that “Direct Competitor” does not include
any business which the parties have agreed in writing to exclude from the
definition, and Company will not unreasonably or 

 

17

 

arbitrarily
withhold such agreement); and (iii) “Competitive Products or Services”
means products or services that serve the same function as or are a therapeutic
alternative to products or services that Company or its subsidiaries offered at
the Date of Termination, or to products or services under development or
commercialization by Company or its subsidiaries at the Date of Termination
(with development or commercialization demonstrated by significant and
documented efforts, whether internally or through acquisition, licensing or
other business development activities).

 

(c)                                  Independent of
any other restriction, for a period of one year after Participant’s employment
with or service to the Company is terminated for any reason, the Participant
shall not, on the Participant’s own behalf or on behalf of any other person,
firm or entity, directly or indirectly induce any business, entity or person
with which the Company or its subsidiaries has a business relationship
(collectively, “Business Associates”) to terminate or alter such
business relationship (provided that clause (y) shall apply only to those
Business Associates who did business with the Company within the last six
months of Participant’s employment or service and (1) about whom Participant,
as a result of his or her employment or service, had access to confidential
information or goodwill that would assist in solicitation of such Person, or
(2) with whom Participant personally dealt on behalf of Company in the 12
months immediately preceding the last day of Participant’s employment or
service and that Participant was introduced to or otherwise had business
contact with such Business Associate as a result of his or her employment or
service with the Company).

 

(d)                                 Independent of
any other restriction, Participant shall not, either personally or in
conjunction with others, either (a) solicit, interfere with, or endeavor to
cause any employee of Company or its subsidiaries to leave such employment or
(b) otherwise induce or attempt to induce any such employee to terminate
employment with Company or its subsidiaries. 
Nothing in this paragraph is meant to prohibit an employee of Company or
its subsidiaries who is not a party to this Agreement from becoming employed by
another organization or person.

 

(e)                                  In addition to
such other rights and remedies as the Company may have at equity or in law with
respect to any breach of these provisions, if the Participant commits a
material breach of any of these provisions, the Company shall have the right to
seek to have such provisions specifically enforced by any court having equity
jurisdiction (without any obligation to post a bond or other security); it
being acknowledged and agreed that any such breach or threatened breach will
cause irreparable injury to the Company and that money damages alone will not
provide an adequate remedy to the Company.

 

(f)                                    The Participant
acknowledges that while the Participant is an employee of or service provider
to the Company, the Participant may conceive of, discover, invent or create
inventions, improvements, new contributions, literary property, computer
programs and software material, ideas and discoveries, whether patentable or
copyrightable or not (all of the foregoing being collectively referred to
herein as “Work Product”), and that various business opportunities shall
be presented to the Participant by reason of the Participant’s employment by
the Company.  The Participant
acknowledges that all of the foregoing shall be owned by and belong exclusively
to the Company and that the Participant shall have no personal interest therein
and the Participant does hereby assign all rights, title and interest therein to
the Company; provided that they are either related in any manner to the
business (commercial or experimental) of the 

 

18

 

Company
or any of its subsidiaries, or are, in the case of Work Product, conceived or
made on the Company’s time or with the use of the Company’s facilities or
materials, or, in the case of business opportunities, are presented to the
Participant for the possible interest or participation of the Company or any of
its subsidiaries.  The Participant agrees
that the Participant will not assert any rights to any Work Product or business
opportunity as having been made or acquired by the Participant prior to the
date hereof.

 

(g)                                 The Participant
acknowledges and agrees that these provisions are necessary to protect the
business operations and affairs of the Company and its subsidiaries.  The Participant understands that the
restrictions set forth in these provisions may limit the Participant’s ability
to earn a livelihood in a business similar that of the Company, but the
Participant nevertheless believes that the Participant has received and will
receive sufficient consideration and other benefits as an employee of or
service provider to the Company, including without limitation, the option granted
by the Company and memorialized in the Agreement to which these provisions are
attached, to justify clearly such restrictions which, in any event (given the
Participant’s education, skills and ability), the Participant does not believe
would prevent the Participant from earning a livelihood.

 

4.                                       For
Participants Resident in Louisiana

 

(a)                                  Company will
provide Participant with access to secret, trade, proprietary or confidential
information relating to Company and its subsidiaries and shareholders that is
not readily available outside Company or its subsidiaries and that Company and
its subsidiaries take steps to protect (“Confidential Information”).  (“Confidential Information” shall not include
information that Participant can prove (i) was in the public domain, being
publicly and openly known through lawful and proper means, (ii) was
independently developed or acquired by Participant without reliance in any way
on other Confidential Information of Company or any subsidiary or (iii) was
approved by Company for use and disclosure by Participant without
restriction.)  The Participant shall not
communicate, divulge or disseminate Confidential Information at any time during
or after the Participant’s employment with or service to the Company, except
with the prior written consent of the Company or as otherwise required by law
or legal process.  Nothing in this
paragraph diminishes or limits any protection granted by law to trade secrets
or relieves Employee of any duty not to disclose, use, or misappropriate any
information that is a trade secret, for as long as such information remains a
trade secret.

 

(b)                                 During the “Noncompetition
Period,” the Participant shall not, without the prior written consent of the
Board, engage in or become associated with a “Competitive Activity” in West
Baton Rouge Parish or any parish or county in the United States where Company
does business.  For purposes of these
provisions:  (i) the “Noncompetition Period” means the period
commencing on the Grant Date (set forth in the Notice of Grant) and ending on
the twelve-month anniversary of the date upon which Participant’s employment
with or service to the Company is terminated for any reason (the “Date of
Termination”); (ii) a “Competitive Activity” means any business or
other endeavor that engages in clinical or pre- clinical research or
development, manufacturing, marketing, sales, or commercialization of products
or services that directly or indirectly compete with, or are a therapeutic
alternative to, either (x) the products of, or services engaged in by, the
Company or any of its subsidiaries at the Date of Termination or (y) the
products proposed to be 

 

19

 

developed
or commercialized, or services proposed to be engaged in, by the Company or any
of its subsidiaries at the Date of Termination (provided that clause (y) shall
apply only to any proposed business activity as to which the Company or any of
its subsidiaries has devoted significant and documented efforts at the Date of
Termination, whether internally or through acquisition, licensing or other
business development activities); provided, however, that the Participant shall
not be engaged in a Competitive Activity if the Participant is providing
services to a division or subsidiary of a multi-division entity or holding
company, so long as no division or subsidiary to which the Participant provides
services is in competition with the Company or its subsidiaries, and the
Participant does not otherwise engage in a Competitive Activity on behalf of
the multi-division entity or any competing division or subsidiary; and (iii)
the Participant shall be considered to have become “associated with a
Competitive Activity” if the Participant becomes directly or indirectly
involved as an owner, investor (other than a passive stockholder of less than
five percent (5%) of a corporation the securities of which are traded on a
national securities exchange), employee, officer, director, consultant,
independent contractor, agent, partner, advisor, or in any other capacity in a
role where Participant’s ability to draw upon the goodwill or Confidential
Information of the Company is likely to affect Participant’s decisions or
actions with regard to the Competitive Activity, to the detriment of Company.

 

(c)                                  During the
Noncompetition Period, the Participant shall not, on the Participant’s own
behalf or on behalf of any other person, firm or entity (x) directly or
indirectly hire, solicit, induce or attempt to solicit or induce any employee
of the Company or any of its subsidiaries to terminate his employment with the
Company or any of its subsidiaries, or to provide any assistance whatsoever to
any person, firm or entity engaged in a Competitive Activity, or (y) directly
or indirectly induce any business, entity or person with which the Company or
any of their subsidiaries has a business relationship to terminate or alter
such business relationship.

 

(d)                                 In addition to
such other rights and remedies as the Company may have at equity or in law with
respect to any breach of these provisions, if the Participant commits a
material breach of any of these provisions, the Company shall have the right to
seek to have such provisions specifically enforced by any court having equity
jurisdiction (without any obligation to post a bond or other security); it
being acknowledged and agreed that any such breach or threatened breach will
cause irreparable injury to the Company and that money damages alone will not
provide an adequate remedy to the Company.

 

(e)                                  The Participant
acknowledges that while the Participant is an employee of or service provider
to the Company, the Participant may conceive of, discover, invent or create
inventions, improvements, new contributions, literary property, computer
programs and software material, ideas and discoveries, whether patentable or
copyrightable or not (all of the foregoing being collectively referred to
herein as “Work Product”), and that various business opportunities shall
be presented to the Participant by reason of the Participant’s employment by
the Company.  The Participant
acknowledges that all of the foregoing shall be owned by and belong exclusively
to the Company and that the Participant shall have no personal interest therein
and the Participant does hereby assign all rights, title and interest therein
to the Company; provided that they are either related in any manner to
the business (commercial or experimental) of the Company or any of its
subsidiaries, or are, in the case of Work Product, conceived or made on the
Company’s time or with the use of the Company’s facilities or materials, or, in
the case of business opportunities, are presented to the Participant for the
possible interest or participation of 

 

20

 

the
Company or any of its subsidiaries.  The
Participant agrees that the Participant will not assert any rights to any Work
Product or business opportunity as having been made or acquired by the
Participant prior to the date hereof.

 

(f)                                    The Participant
acknowledges and agrees that these provisions are necessary to protect the
business operations and affairs of the Company and its subsidiaries.  The Participant understands that the
restrictions set forth in these provisions may limit the Participant’s ability
to earn a livelihood in a business similar that of the Company, but the
Participant nevertheless believes that the Participant has received and will
receive sufficient consideration and other benefits as an employee of or
service provider to the Company, including without limitation, the option
granted by the Company and memorialized in the Agreement to which these
provisions are attached, to justify clearly such restrictions which, in any
event (given the Participant’s education, skills and ability), the Participant
does not believe would prevent the Participant from earning a livelihood.

 

II.                                     To the extent
permitted by law, any restriction set forth in this Agreement that is found by
any court of competent jurisdiction to be unreasonable because it extends for
too long a period of time or over too great a range of activities or in too
broad a geographic area, may be interpreted to extend only over the maximum
period of time, range of activities or geographic area deemed to be reasonable.

 

III.                                 To the extent
permitted by law, the invalidity of any provision of this Agreement will not
and shall not be deemed to affect the validity of any other provision.  In the event that any provision of this
Agreement is held to be invalid, it shall be considered expunged, and the
parties agree that the remaining provisions shall be deemed to be in full force
and effect as if they had been executed by both parties subsequent to the
expungement of the invalid provision.

 

21

 

APPENDIX A

TO CONFIDENTIALITY AND NONCOMPETITION AGREEMENT

 

CALIFORNIA LABOR CODE SECTION 2870

 

(a)         
Any provision in an employment agreement which provides that an employee shall
assign, or offer to assign, any of his or her rights in an invention to his or
her employer shall not apply to an invention that the employee developed
entirely on his or her own time without using the employer’s equipment,
supplies, facilities, or trade secret information except for those inventions
that either:

 

(1)         
Relate at the time of conception or reduction to practice of the invention to
the employer’s business, or actual or demonstrably anticipated research or
development of the employer; or

 

(2)         
Result from any work performed by the employee for the employer.

 

(b)         
To the extent a provision in an employment agreement purports to require an
employee to assign an invention otherwise excluded from being required to be
assigned under subdivision (a), the provision is against the public policy of
this state and is unenforceable.

 

22

 

APPENDIX B

TO CONFIDENTIALITY AND NONCOMPETITION AGREEMENT

 

LIST OF PRIOR INVENTIONS

AND ORIGINAL WORKS OF AUTHORSHIP:

 

	
  Title

  	
   

  	
  Date

  	
   

  	
  Identifying Number or Brief Description

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

23

 

EXHIBIT E

 

AMENDED AND RESTATED 2010 LONG TERM INCENTIVE PLAN

 

See
Amended and Restated Ikaria, Inc. 2010 Long Term Incentive Plan, as
amended, filed as exhibit 10.3 to Ikaria Inc.’s Amendment No. 5 to its
Registration Statement on Form S-1.

 

24Exhibit 10.25  

CERTAIN
INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 

September 29,
2010 

Patrick
D. Spangler 

Re:    Employment
Terms 

Dear
Pat, 

        On
behalf of Epocrates, Inc. ("Epocrates" or the "Company"), I am pleased to offer
you the full-time position of Chief Financial Officer. The terms and conditions of your new position and employment relationship with the Company are as set forth below: 

        1.    Position and Work Schedule.    

        a.     You
will become the Chief Financial Officer for the Company. You will report directly to the Chief Executive Officer and will initially split your time working between
the Company's offices in East Windsor, New Jersey and San Mateo, California. As discussed, we will allow you to determine which of these office locations will be your primary office location, and you
are expected to relocate to that particular geographic area by the end of July, 2011. This is a full-time position. 

        b.     You
agree to the best of your ability and experience that you will at all times conscientiously perform all of the duties and obligations required of you to the
satisfaction of the Company. During the term of your employment, you further agree that you will devote your full business time and attention to the business of the Company, the Company will be
entitled to all of the benefits and profits arising from or incident to all such work services and advice, you will not render commercial or professional services of any nature to any person or
organization, or engage in self-employment, whether or not for compensation, without the prior written consent of the Company, and you will not directly or indirectly engage or participate
in any business that is competitive in any manner with the business of the Company. Nothing in this letter agreement will prevent you from accepting speaking or presentation engagements in exchange
for honoraria or from serving on boards of charitable organizations, or from owning no more than one percent (1%) of the outstanding equity securities of a corporation whose stock is listed on a
national stock exchange. 

        c.     Of
course, the Company may change your position, duties, reporting relationship and office location from time to time in its discretion (provided
however, that as provided under Section 12 of this letter agreement, certain actions by the Company could constitute "Good Reason" for your resignation of employment and
eligibility for Change of Control Severance Benefits). 

        2.    Start Date.    Subject to fulfillment of any conditions imposed by this letter
agreement, you will commence this new position with the Company on October 4, 2010 or any other mutually agreeable date (the "Start Date"). 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        3.    Proof of Right to Work.    For purposes of federal immigration law, you will be required
to provide to the Company documentary proof of your identity and eligibility for employment in the United States. This offer of employment is contingent upon such satisfactory proof. 

        4.    Compensation.    

        a.     Base Salary.    Your initial base salary will be payable in semi monthly installments of $12,500 pursuant to the
Company's regular payroll policy, which equates to an annual base salary of $300,000. Because your position is classified as exempt, you will not be eligible for overtime premiums or additional
compensation. Your base salary may be reviewed annually as part of the Company's normal salary review process. Any changes to your base salary are at the Company's sole discretion
(provided however, that as provided under Section 12 of this letter agreement, a material decrease in your base salary could constitute "Good
Reason" for your resignation of employment and eligibility for Change of Control Severance Benefits). 

        b.     Bonus Compensation.    You will be eligible to participate in the 2010 Executive Bonus Plan (the
"Bonus Plan"), pursuant to the terms and conditions of the Bonus Plan. Your target bonus under the Bonus Plan will be 60% of your 2010 base salary paid
by the Company, and the actual bonus paid will be based upon the Company's performance (as determined by the Company) against the Bonus Plan. No bonus is considered earned under the Bonus Plan until
the time that such bonus is scheduled to be paid as provided under the Bonus Plan. Thus, in the event that your employment has been terminated (either by the Company or by you), you will not be
entitled to any bonus which has not been scheduled to be paid prior to the termination date. Any bonus for 2010 will be prorated based on your Start Date. Whether a bonus has been earned under the
Bonus Plan, and the amount of any bonus earned, will be determined by the Company and approved by the Company's Board of Directors (the "Board") within
its sole discretion. Any bonus earned will be paid as soon as practicable following the approval of the Bonus Plan payouts by the Board, as provided under the Bonus Plan. 

        c.     Relocation Benefits.    To assist with your relocation to the San Francisco Bay Area or New Jersey (as discussed
further above), the Company will provide you with the relocation assistance and benefits in the form of reimbursement (or direct payment to vendors or other service providers) of your reasonable
direct out-of-pocket costs for your temporary lodging and transportation costs incurred by you prior to your relocation (collectively, the "Relocation
Benefits"). The Relocation Benefits that you will be eligible to receive include, but are not limited to the following: (i) within each calendar quarter prior to your
relocation (beginning with the fourth calendar quarter of 2010), the Company will reimburse your direct out-of pocket costs for up to six (6) round trip coach class airfare tickets
to/from your current primary residence and the Bay Area or New Jersey, such tickets to be used by either you or your spouse and child(ren); (ii) the Company will
reimburse the management fees that you will be required to pay during the time period through September 30, 2011 to the property management company which assists with the renting or leasing of
your primary residence in Minnesota, up to a maximum of one thousand dollars ($1,000.00) per month; and (iii) the Company will reimburse your direct out-of-pocket costs
to move your household goods and other personal property to the Bay Area or New Jersey, up to a maximum of thirty thousand dollars ($30,000) in the aggregate, provided
that, such goods and personal property must be moved no later than July 31, 2011. The Relocation Benefits (or portions thereof) may be subject to deductions and
withholdings, as provided by applicable law. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        Any
reimbursement-based Relocation Benefits will be paid to you within thirty (30) days after the date you submit receipts for the expenses, provided you submit those receipts and
a properly completed expense reimbursement report within forty-five (45) days after you incur the expense. For the avoidance of doubt, to the extent that any such reimbursements are
subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended, any such reimbursements payable pursuant to this Section 4(c) shall be paid no later than
December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any
subsequent year, and the right to reimbursement under this letter agreement will not be subject to liquidation or exchange for another benefit. To be eligible for reimbursement or payment by the
Company, you must remain an employee of the Company in good standing as of the date that the expense or cost is incurred. 

        In
addition, if any of the Relocation Benefits constitute taxable income to you, then after the amount of income tax and employment tax imposed on the Relocation Benefits can be
determined and substantiated to the Company's satisfaction (in accordance with the procedures set forth in this paragraph), the Company shall pay either to you or to the applicable taxing authorities
on your behalf (as required by applicable tax withholding rules determined and applied in the Company's good faith discretion), such additional amount (the
"Gross-Up") as is necessary to ensure that you do not bear any income or employment taxes attributable to the Relocation Benefits. For the
avoidance of doubt, the Gross-Up shall be calculated iteratively so that you do not bear income or employment taxes on the Gross-Up. The Gross-Up shall be
calculated using your actual effective marginal federal and state income tax rates based on your federal and state income tax returns as actually filed for the taxable years in which the Relocation
Benefits are paid. You will provide such tax returns to the Company for purposes of the Company's calculation of the Gross-Up no later than September 30 of the year in which such
income tax returns are filed and the Gross-Up will be paid by the Company no later than December 31 of such year. 

        5.    Stock Options.    

        a.     Stock Option Grant With Time-Based Vesting.    In connection with the commencement of your
employment, the Company will recommend that the Board grant you an option to purchase one hundred ninety-one thousand, nine hundred forty-seven (191,947) shares of the Company's Common
Stock under the Company's equity incentive plan (the "Plan") with an exercise price equal to the fair market value on the date of the grant as
determined by the Board (the "Time-Based Vesting Option"). The Time-Based Vesting Option will be subject to approval of the
Board and the terms of the Plan and your individual Stock Option Agreement with the Company, which shall include the following five-year vesting schedule applicable to the shares subject
to the Time-Based Vesting Option: twenty percent (one-fifth) of such shares shall vest on the first annual anniversary of the Start Date, and 1/60th of
such shares shall vest monthly thereafter over the next four years. Vesting will, of course, depend on your continued service with the Company, as defined by the Plan. The Time-Based
Vesting Option will be an incentive stock option to the maximum extent allowed by the tax code. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        b.     Stock Option Grant With Milestone-Based Vesting.    In addition, the Company will recommend that the Board grant
you an additional option (separate from the Time-Based Vesting Option) to purchase one hundred ninety-one thousand, nine hundred forty-seven (191,947) shares of the Company's
Common Stock under the Plan with an exercise price equal to the fair market value on the date of the grant as determined by the Board (the "Milestone-Based Vesting
Option"). The Milestone-Based Vesting Option will be subject to approval of the Board and the terms of the Plan and your individual Stock Option Agreement with the Company,
which shall include a vesting schedule pursuant to which the shares subject to the Milestone-Based Vesting Option will vest as provided below upon the earlier
of either an Acquisition or IPO (as each of the foregoing terms is hereinafter defined) in the event that either such event occurs within one (1) year after the Start
Date. The vesting schedule which will apply to the Milestone-Based Vesting Option, if neither an Acquisition nor an IPO occurs within one (1) year after the Start Date, also is provided below: 

          (i)  Acquisition Milestone.    Prior to an IPO, if the Company is acquired pursuant to a merger or acquisition
within one (1) year after the Start Date (collectively, "Acquisition"), and you remain in continuous
service (as defined in the Plan) through and including the closing date of such Acquisition, the shares subject to the Milestone-Based Vesting Option will vest based on the amount of the aggregate net
proceeds from the Acquisition as calculated based on the purchase price for the Company's Common Stock, subject to appropriate adjustments for stock splits, combinations, and the like (the
"Per Share Price"), in accordance with the following schedule: (A) if the Per Share Price is less than [*] per share, no
shares subject to the Milestone-Based Vesting Option will vest, and all shares will terminate in full; (B) if the Per Share Price is at least [*] per share but less than
[*] per share, a total of 63,982 shares subject to the Milestone-Based Vesting Option will vest, and all remaining shares will terminate; (C) if the Per Share Price is
at least [*] per share but less than [*] per share, a total of 127,965 shares subject to the Milestone-Based Vesting Option will vest, and all remaining
shares will terminate; and (D) if the Per Share Price is [*] per share or more, all shares subject to the Milestone-Based Vesting Option will vest. Vesting under the
preceding schedule shall occur, if applicable, only after all payments and/or consideration under the Acquisition have been received or otherwise released from any conditions for payment or receipt
(such as earn-out payments or other deferred payments). In the event of an Acquisition, the Milestone-Based Vesting Option will not be eligible for any accelerated vesting relating to a
Change of Control (as such term is hereinafter defined) or other corporate transaction, and the vesting schedule provided for the IPO milestone (even if an IPO subsequently occurs) and the Traditional
Vesting Schedule set forth below shall not apply, notwithstanding any language to the contrary in this offer letter agreement or the Plan. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

         (ii)  IPO Milestone.    In the event of the initial public offering of the Company's securities on a national stock
exchange within one (1) year after the Start Date (the "IPO") and you remain in continuous service (as defined in the Plan) through and including
the date of the IPO (the "IPO Date"), the shares subject to the Milestone-Based Vesting Option will vest in accordance with the following schedule,
subject to your continuous service (as defined in the Plan): twenty percent (one-fifth) of the shares subject to the Milestone-Based Vesting Schedule shall vest on the first annual
anniversary of the Start Date, and 1/60th of such shares shall vest monthly thereafter over the next four years. In the event of an IPO, (A) the vesting schedule provided
for an Acquisition set forth above shall not apply (even if an Acquisition occurs after the IPO), and (B) the Milestone-Based Vesting Option will be eligible for accelerated vesting under
Section 12 of this offer letter agreement (Change of Control Severance Benefits). 

        (iii)  Traditional Vesting Schedule.    If neither an Acquisition nor an IPO occurs as of the one (1) year
anniversary of the Start Date, then effective as of such one (1) year anniversary date, the shares subject
to the Milestone-Based Vesting Option will vest in accordance with the following schedule, subject to your continuous service (as defined in the Plan) (the "Traditional Vesting
Schedule"): twenty percent (one-fifth) of the shares subject to the Milestone-Based Vesting Schedule shall vest on the one (1) year anniversary of the Start
Date, and 1/60th of such shares shall vest monthly thereafter over the next four years. If the Traditional Vesting Schedule applies, (A) the vesting schedule provided for
an Acquisition set forth above shall not apply (even if an Acquisition occurs more than one (1) years after the Start Date), and (B) the Milestone-Based Vesting Option will be eligible
for accelerated vesting under Section 12 of this offer letter agreement (Change of Control Severance Benefits). 

        With
respect to the Milestone-Based Vesting Option, if an Acquisition occurs which includes contingent consideration that might allow for the achievement of a Proceeds Amount that would
result in vesting, and such options would no longer exist upon the closing of the Acquisition, the Company agrees to use commercially reasonable efforts to work with you on an alternative structure
(e.g., escrow or contingent bonus payment) to achieve a corresponding gross payment to you that would be equivalent to the amount you would be entitled to receive (i.e., price per share
inclusive of the contingent consideration) in the event that the vesting event would be achieved. Any applicable payment shall be payable to you upon the payment to the stockholders of the contingent
consideration in such Acquisition. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        6.    Benefits.    Subject to the terms, conditions and limitations of the benefit plans, you
will be eligible to participate in the Company's standard employee benefits currently consisting of short/long term disability, medical, dental, and vision insurance benefits. Eligibility for
participation in these group benefits will become effective the first of the month following your Start Date. Regular full-time and part-time exempt employees do not accrue
vacation, sick leave, or other paid time off, and there is no set guideline on how much time off employees will be permitted to take. Under the terms of the Company's paid time off policy for exempt
employees, you will be permitted to take a reasonable amount of time off with pay, as permitted by your duties and responsibilities, and as approved in advance by your manager. Further details about
benefits are available for your review. Epocrates may modify benefit plans available to employees from time to time at its discretion, and you will remain eligible to participate in the Company's
benefit plans which apply to executive level employees of the Company. 

        7.    Employee 401(k) Plan.    You will be eligible to participate in Epocrates' 401(K) plan
beginning on the first of the month following your Start Date. Employees who choose to participate will have
pre-tax dollars deposited into their 401(K) account and the money will be directed to specified investment options. Epocrates does not match funds or make contributions. 

        8.    Confidential Information and Invention Assignment Agreement.    Your acceptance of this
offer and commencement of employment with the Company is contingent upon the execution, and delivery to an officer of the Company, of the Company's Confidential Information and Invention Assignment
Agreement (the "Confidentiality Agreement"), a copy of which is enclosed for your review and execution, prior to or on your Start Date. You are also
required to abide by the Confidentiality Agreement as a condition of your employment. In your work for the Company, you will be expected not to use or disclose any confidential information, including
trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you may use only that information generally known and used by persons with training and
experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company, or developed by you
on behalf of the Company. You agree that you will not bring onto Company premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation
of confidentiality. You represent further that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company. 

        9.    Company Policies.    As a condition of your employment, you will be expected to abide by
the Company policies and procedures, and acknowledge in writing that you have read and will comply with the Company's Employee Handbook. 

        10.    At-Will Employment.    Your employment with the Company will be on an "at
will" basis, meaning that either you or the Company may terminate your employment at any time, with or without cause, and with or without advance notice. Your employment at-will status can
only be modified in a written agreement signed by you and by a duly authorized officer of the Company. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        11.    Severance Benefits Not In Connection With A Change of Control.    If, at any time other
than during the twelve (12) months following the consummation of a Change of Control (as defined herein), the Company or any successor entity terminates your employment without Cause (as
defined herein), and if, on or within thirty (30) days after the termination date, you sign, date, and deliver to the Company a
separation agreement that includes a general release of all known and unknown claims in the form provided to you by the Company (the "Release") and you
do not subsequently revoke the Release, then you will receive the following as your sole severance benefits (the "Severance Benefits"):
(i) severance pay equal to nine (9) months of your base salary in effect as of the termination date, less required deductions and withholdings, paid in the form of salary continuation on
the Company's standard payroll dates beginning with the first payroll date following the thirtieth day after the termination date (provided that the Release has become effective by such payroll date,
and the initial severance payment will be a "catch-up" payment that provides the full amount of severance pay that you would have received if the severance payments had begun as of the
first payroll date following the termination date); and (ii) provided that you timely elect continued group health insurance coverage through federal COBRA law or comparable state law
(collectively, "COBRA"), the Company will pay your COBRA premiums sufficient to continue your group health insurance coverage at the same level in
effect as of your termination date for nine (9) months after your termination or until you become eligible for group health insurance coverage through a new employer, whichever occurs first.
For purposes of this letter agreement, "Cause" means any of the following conduct by you: (i) embezzlement, misappropriation of corporate funds,
or other material acts of dishonesty; (ii) the conviction, plea of guilty, or nolo contendere to any felony (not involving the operation of a motor vehicle), or of any misdemeanor involving
moral turpitude; (iii) engagement in any activity that you know or should know could materially harm the business or reputation of the Company, provided that this subsection (iii) shall
not apply to any activity done in a good faith belief by you that the action taken or omission was in the best interest of the Company; (iv) material violation of any statutory, contractual, or
common law duty or obligation owed by you to the Company, including, without limitation, the duty of loyalty which causes demonstrable injury to the Company; (v) material breach of the
Confidentiality Agreement; or (vi) repeated failure, in the reasonable judgment of the Company, to substantially perform your assigned duties or responsibilities after written notice from the
Company describing the failure(s) in reasonable detail and your failure to cure such failure(s) within thirty (30) days of receiving such written notice, provided that written notice only must
be provided if the failure(s) are capable of cure. 

        12.    Change of Control Severance Benefits.    In the event that: (i) the Company
consummates a change of control transaction, whereby fifty percent (50%) or more of the voting stock of the Company changes ownership pursuant to such transaction (a "Change of
Control"); and (ii) within twelve (12) months after the consummation of a Change of Control, your employment with the Company is either (a) terminated by
the Company or successor entity without Cause, or (b) terminated by you for Good Reason (as defined in and in accordance with the paragraph below); and (iii) if, on or within thirty
(30) days after the termination date, you sign, date, and deliver to the Company the Release and you do not subsequently revoke the Release; then you will receive the following as your sole
severance benefits (the "Change of Control Severance Benefits"): (a) severance pay equal to nine (9) months of your base salary in effect
as of the termination date, less required deductions and withholdings, paid in the form of salary continuation on the Company's standard payroll dates beginning with the first payroll date following
the thirtieth day after the termination date (provided that the Release has become effective by such payroll date, and the initial severance payment will be a "catch-up" payment that
provides the full amount of severance pay that you would have received if the severance payments had begun as of the first payroll date following the termination date); 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

(b) provided
that you timely elect continued group health insurance coverage through COBRA, the Company will pay your COBRA premiums sufficient to continue your group health insurance coverage
at the same level in effect as of your termination date for nine (9) months after your termination or until you become eligible for group health insurance coverage through a new employer,
whichever occurs first; and (c) any unvested shares subject to any option grants held by you as of the employment termination date will become vested, effective as of the employment termination
date (unless otherwise provided under Section 5). 

        For
purposes of this Section 12, "Good Reason" shall mean one or more of the following conditions that arose upon or following the
consummation of the Change of Control without your written consent: (i) a relocation of your assigned office which results in an increase in your one-way commuting distance by more
than thirty-five (35) miles; (ii) a material decrease in your base salary (except for salary decreases generally applicable to the Company's other executive employees); or
(iii) a material reduction in the scope of your duties or responsibilities from your duties and responsibilities in effect immediately prior to the Change of Control. Notwithstanding the
foregoing, you shall not be deemed to have terminated your employment for "Good Reason" unless (i) such termination occurs within ninety (90) days following the initial existence of one
or more of the conditions that constitute Good Reason (as defined herein), (ii) you provide written notice to the Company (or any successor entity) of the existence of the Good Reason condition
within thirty (30) days following the initial existence of the condition, and (iii) the Company (or its successor entity) fails to cure such condition within a period of thirty
(30) days following such written notice. 

        13.    Parachute Payments.    In the event that the benefits provided for in this letter
agreement or otherwise payable to you ("Payment") would constitute "parachute payments" within the meaning of Section 280G of the Internal
Revenue Code of 1986, as amended (the "Code") and, but for this sentence, would be subject to the excise tax imposed by Section 4999 of the Code
(the "Excise Tax"), then such Payment shall be equal to the Reduced Amount. The "Reduced Amount" shall
be either (i) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax, or (ii) the largest portion, up to and including the
total, of the Payment, whichever of the foregoing amounts, after taking into account all applicable federal, state and local employment taxes, income taxes and the Excise Tax (all computed at the
highest applicable marginal rate), results in the receipt by you, on an after-tax basis, of the greater amount of the Payment, notwithstanding that all or some portion of the Payment may
be subject to the Excise Tax. Unless the Company and you otherwise agree in writing, the determination of your Excise Tax liability shall be made in writing by the accounting firm engaged by the
Company for general audit purposes as of the day prior to the effective date of the Change of Control (the "Accountants"). If the accounting firm so
engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change of Control, the Company shall appoint a nationally recognized accounting firm to
make the determinations required hereunder. For purposes of making the calculations required by this Section 13, the Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. Any good faith determinations of the Accountants made
hereunder shall be final, binding, and
conclusive upon the Company and you. The Company and you shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination
under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 13. To the extent that any elimination
in or reduction of payments or benefits is made under this Section 13, the order in which payments and benefits shall be reduced shall be made by the Accountants in a manner that shall provide
you with the greatest economic benefit, but if more than one manner of reduction of payments and benefits necessary to arrive at the Reduced Amount yields the greatest economic benefit to you, then
the payments and benefits shall be reduced pro rata. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        14.    Deferred Compensation.    Severance payments made pursuant to Section 11 or
Section 12, to the extent of payments made from the date of your termination through March 15 of the calendar year following your termination, are intended to constitute separate
payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations and thus payable pursuant to the "short-term deferral" rule set forth in
Section 1.409A-1(b)(4) of the Treasury Regulations. To the extent such payments are made following said March 15, they are intended to constitute separate payments for
purposes of Section 1.409A-2(b)(2) of the Treasury Regulations made upon an involuntary termination from service and payable pursuant to
Section 1.409A-1(b)(9)(iii) of the Treasury Regulations, to the maximum extent permitted by such provision, with any excess amount being regarded as subject to the distribution
requirements of Section 409A(a)(2)(A) of the Code, including, without limitation, the requirement of Section 409A(a)(2)(B)(i) of the Code that payment be delayed until six
(6) months after separation from service if you are a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code at the time of such separation from service.
Notwithstanding anything to the contrary set forth herein, if any payments and benefits provided under this Agreement constitute "deferred compensation" within the meaning of Section 409A of
the Code and the regulations and other guidance thereunder and any state law of similar effect (collectively "Section 409A") (i) such
payments and benefits shall not commence in connection with your termination of employment unless and until you also have incurred a "separation from service" (as such term is defined in Treasury
Regulations Section 1.409A-1(h)), unless the Company reasonably determines that such amounts may be provided to you without causing you to incur the adverse personal tax
consequences under Section 409A, and (ii) the Release required by Sections 11 and 12 above shall be considered effective only as of the latest permitted effective date for such
Release if such Release could become effective in the calendar year following the calendar year in which your employment termination occurs. 

        15.    Complete Agreement.    This letter, together with your Confidentiality Agreement, forms
the complete and exclusive statement of your employment agreement with the Company. The terms in this letter supersede any other agreements or promises made to you by anyone, whether oral or written.
Other than those changes expressly reserved to the Company's discretion in this letter, this letter agreement cannot be changed except in a written agreement signed by you and a duly authorized
officer of the Company. 

[*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS. 

        We
are all delighted to be able to extend you this offer and look forward to working with you. To indicate your acceptance of the Company's offer, please sign and date this letter in the
space provided below and return it to me, along with a signed and dated copy of the Confidentiality Agreement. 

        This
offer is valid until September 30, 2010. 

Very
truly yours,

Epocrates, Inc. 

 

 

			
	/s/ John S. Owens

  John S. Owens

Senior Vice President

Human Resources	 	 
	
 UNDERSTOOD, ACCEPTED AND AGREED:	
 	

 
	
 Patrick D. Spangler	
 	

 
	
 /s/ Patrick D. Spangler

  Signature	
 	

 
	
 9-29-2010

  Date	
 	

 
	
 10-4-2010

  Start Date	
 	

 
	
 Enclosure:    Confidentiality Agreement

	
 	

 

 

 [*] =
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS.

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