Document:

EX-10.1

 Exhibit 10.1 

FORM OF CONTINGENT VALUE RIGHTS AGREEMENT 

THIS CONTINGENT VALUE RIGHTS AGREEMENT, dated
as of [_____], 2020 (this “Agreement”), is entered into by and between AcelRx Pharmaceuticals, Inc., a Delaware corporation (“Parent”), and [____]1, as Rights
Agent (the “Rights Agent”). 
 RECITALS 

WHEREAS, Parent, Consolidation Merger Sub, Inc., a Delaware corporation and a wholly-owned indirect
subsidiary of Parent (“Merger Sub”), and Tetraphase Pharmaceuticals, Inc., a Delaware corporation (including in its capacity as the surviving corporation in the Merger, the “Company”), have entered into an Agreement
and Plan of Merger dated as of March 15, 2020 (as it may be amended or supplemented from time to time pursuant to the terms thereof, the “Merger Agreement”), pursuant to which, at the Effective Time (as defined in the Merger
Agreement, the “Effective Time”), Merger Sub will merge with and into Company (the “Merger”), with the Company continuing as the surviving corporation and as a wholly owned indirect subsidiary of the Parent; 

WHEREAS, pursuant to the Merger Agreement, Parent has agreed to provide to the Company’s
stockholders the right to receive contingent value rights as hereinafter described; 
 WHEREAS, a
registration statement on Form S-4 (No. [____]) with respect to the shares of Parent Common Stock issuable pursuant to the Merger Agreement and issuable pursuant to the contingent value rights as provided
herein has been prepared and filed by Parent with the Securities and Exchange Commission and has become effective in accordance with the Securities Act of 1933, as amended (the “Securities Act”); and 

WHEREAS, the Rights Agent is willing to act in connection with the issuance, transfer, exchange and
payment of such contingent value rights as provided herein. 
 NOW, THEREFORE, in
consideration of the premises and mutual agreements herein, Parent and the Rights Agent hereby agree as follows: 
  

	1.	 DEFINITIONS 

1.1. Definitions. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Merger
Agreement. As used in this Agreement, the following terms shall have the following meanings: 
 “Acting Holders” means, at
the time of determination, Holders of at least 40% of the outstanding CVRs as set forth on the CVR Register. 
 “Affiliate”
means, with respect to any specified Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified Person; “control” means the
ownership, directly or indirectly, of more than 50% of the voting securities entitled to vote for the directors (or similar officials) of a Person or the possession, by contract or otherwise, of the authority to direct the management and
policies of a Person. 
 “Calendar Quarter” means each period of three consecutive months commencing on January 1,
April 1, July 1 and October 1 of each calendar year. 
  

	1 	 Note to Draft: Rights Agent to be determined in accordance with the Merger Agreement.

 “Calendar Year” means the period of four consecutive Calendar Quarters
beginning on January 1 and ending on December 31 of each calendar year. 
 “Change of Control” means (i) a
sale or other disposition of all or substantially all of the assets of either Parent or the Company on a consolidated basis (other than to any direct or indirect wholly owned subsidiary of Parent), (ii) a merger or consolidation involving
either Parent or the Company in which Parent or the Company, respectively, is not the surviving entity, and (iii) any other transaction involving either Parent or the Company in which Parent or the Company, respectively, is the surviving entity
but in which the stockholders of Parent or the Company, respectively, immediately prior to such transaction own less than fifty percent (50%) of the surviving entity’s voting power immediately after the transaction, other than any bona
fide equity financing transaction solely related to the continued financing of the operations of Parent and its subsidiaries. 

“Commercially Reasonable Efforts” means, with respect to a task related to a product, the efforts required to carry out such
task in a diligent and sustained manner without undue interruption, pause or delay, which level is at least commensurate with the level of efforts that a pharmaceutical company of comparable size and resources as those of Parent and its Affiliates
would devote to a product of similar potential (including commercial potential), taking into account its proprietary position and profitability (including pricing and reimbursement status, but excluding the obligation to pay the Milestone Amounts
under this Agreement), anticipated or actual market conditions and economic return potential, the regulatory environment, and other relevant technical, commercial, legal, scientific and/or medical factors. 

“CVRs” means the rights of Holders to receive contingent payments of cash and Parent Common Stock pursuant to the Merger
Agreement and this Agreement. 
 “CVR Register” has the meaning set forth in Section 2.3(b). 

“DTC” means The Depository Trust Company or any successor entity thereto. 

“Event of Default” has the meaning set forth in Section 6.1(a). 

“Holder” means a Person in whose name a CVR is registered in the CVR Register at the applicable time. 

“Independent Accountant” has the meaning set forth in Section 4.5(a). 

“Licensee” means any non-Affiliate third party granted a license by Parent or its
Affiliates under the Company IP to make, have made, use, sell, offer for sale, or import XERAVA in the U.S., but shall exclude any (i) third party distributor of XERAVA that has no royalty or other payment obligations to any Parent or any of
its Affiliates that are calculated based on amounts invoiced or received by such third party for sales of XERAVA or (ii) a third party distributor of XEVARA that (x) does not take title to XEVARA, (y) does not invoice XEVARA sales to
third party customers and (z) is responsible only for inventory management and distribution with respect XEVARA on behalf of Parent or its Affiliates. 

“Milestone” means each of Milestone 1, Milestone 2 and Milestone 3. 

“Milestone 1” means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on
December 31, 2021. 

  
 2 

 “Milestone 2” means achievement of annual Net Sales of at least $35,000,000
during any Calendar Year ending on or before December 31, 2024. 
 “Milestone 3” means achievement of annual Net Sales
of at least $55,000,000 during any calendar year ending on or before December 31, 2024. 
 “Milestone Amount” means
each of Milestone 1 Amount, Milestone 2 Amount and Milestone 3 Amount. 
 “Milestone 1 Amount” means, with respect to the
achievement of Milestone 1, an amount per CVR equal to the quotient of $2,500,000 divided by the aggregate number of CVRs issued pursuant to the Merger Agreement and this Agreement, without interest (it being understood and agreed that all
Milestones or a combination of any two Milestones can be earned in the same year, in which case all such applicable Milestone Amounts shall be payable). 

“Milestone 2 Amount” means, with respect to the achievement of Milestone 2, an amount per CVR equal to the quotient of
$4,500,000 divided by the aggregate number of CVRs issued pursuant to the Merger Agreement and this Agreement, without interest (it being understood and agreed that all Milestones or a combination of any two Milestones can be earned in the same
year, in which case all such applicable Milestone Amounts shall be payable). 
 “Milestone 3 Amount” means, with respect to
the achievement of Milestone 3, an amount per CVR equal to the quotient of $5,500,000 divided by the aggregate number of CVRs issued pursuant to the Merger Agreement and this Agreement, without interest (it being understood and agreed that all
Milestones or a combination of any two Milestones can be earned in the same year, in which case all such applicable Milestone Amounts shall be payable). 

“Milestone Cash Amount” has the meaning set forth in Section 2.4(a)(i) 

“Milestone Non-Achievement Certificate” has the meaning set forth in
Section 2.4(g). 
 “Milestone Notice” has the meaning set forth in Section 2.4(a)(i) 

“Milestone Payment Date” has the meaning set forth in Section 2.4(a). 

“Milestone Stock Amount” has the meaning set forth in Section 2.4(a)(i) 

“Milestone Stock Price” means the average closing price of a share of Parent Common Stock on the Nasdaq Global Select Market
for the 10 most recent trading days that Parent Common Stock has traded ending on the trading day one day prior to the date of the applicable Milestone Payment Date. 

“Net Sales” means the gross amount invoiced by Parent, any of its Affiliates (including the Surviving Corporation) or any of
its Licensees (each, a “Selling Party”) to a third party for sales or distribution of XERAVA in the U.S., less the following deductions as calculated in accordance with GAAP consistently applied: 

(i) customary trade, cash and quantity discounts given to customers; 

(ii) rebates, credits and allowances given by reason of rejections returns, damaged or defective product or recalls; 

  
 3 

 (iii) government-mandated rebates, credits and adjustments paid or deducted; 

(iv) customary price adjustments, allowances, credits, chargeback payments, discounts, rebates, free of charge concessions, fees and
reimbursements granted or made to managed care organizations, group purchasing organizations or other buying groups, pharmacy benefit management companies, health maintenance organizations and any other providers of health insurance coverage, health
care organizations or other health care institutions (including hospitals), health care administrators, patient assistance or other similar programs, or to federal state/provincial, local and other governments, including their agencies; 

(v) reasonable and customary freight, shipping, insurance and other transportation expenses, if borne by the applicable Selling Party without
reimbursement from any third party; 
 (vi) amounts written off as uncollectable debt; provided that the amount of any uncollectable debt
deducted pursuant to this exception and actually collected in a subsequent Calendar Quarter shall be included in Net Sales for such subsequent Calendar Quarter; and 

(vii) sales, value-added, excise taxes, tariffs and duties, and other taxes and government charges directly related to the sale, delivery or
use of XERAVA (but not including taxes assessed against the net income derived from such sale). 
 Furthermore, Net Sales shall not include
use of or sale at or below the direct manufacturing cost of XERAVA by Parent, its Affiliates (including the Surviving Corporation) and/or its sublicensees of XERAVA for non-clinical or clinical studies,
patient-assistance programs or charitable donations. 
 Resales or sales of XERAVA made in good faith between or among any Selling Party
shall not be included in the calculation of Net Sales but the subsequent resale or sale to a non-Affiliate third party (other than a Selling Party) shall be included in the computation of Net Sales. 

All Net Sales shall be computed in Dollars, and where any Net Sales are calculated in a currency other than Dollars, they shall be translated
into Dollars in accordance with GAAP. 
 “Officer’s Certificate” means a certificate signed by the chief executive
officer, president, chief financial officer, any vice president, the controller, the treasurer or the secretary, in each case of Parent, in his or her capacity as such an officer, and delivered to the Rights Agent. 

“Parent Share Cap” shall mean a number of shares of Parent Common Stock (rounded down to the nearest whole share) equal to
19.9% of the total number of shares of Parent Common Stock that are issued and outstanding immediately prior to the execution and delivery of the Merger Agreement by Parent, Merger Sub and the Company. 

“Permitted Transfer” means a transfer of CVRs (a) upon death of a Holder by will or intestacy; (b) by instrument to
an inter vivos or testamentary trust in which the CVRs are to be passed to beneficiaries upon the death of the trustee; (c) pursuant to a court order; (d) by operation of law (including by consolidation or merger) or without consideration
in connection with the dissolution, liquidation or termination of any corporation, limited liability company, partnership or other entity; (e) in the case of CVRs held in book-entry or other similar nominee form, from a nominee to a beneficial
owner and, if applicable, through an intermediary, as allowable by DTC; or (f) as provided in Section 2.13. 

  
 4 

 “Reorganization” has the meaning set forth in Section 2.7(a) .

 “Rights Agent” means the Rights Agent named in the first paragraph of this Agreement, until a successor Rights Agent
becomes such pursuant to the applicable provisions of this Agreement, and thereafter “Rights Agent” shall mean such successor Rights Agent. 

“Share” means each share of Company Common Stock outstanding immediately prior to the Effective Time, except any
(i) shares of Company Common Stock held by the Company or any wholly-owned Subsidiary of the Company as of immediately prior to the Effective Time (or held in the Company’s treasury), (ii) shares of Company Common Stock held by Parent,
Merger Sub or any other wholly-owned Subsidiary of Parent as of immediately prior to the Effective Time or (iii) Dissenting Company Shares. 

“Transfer Agent” has the meaning set forth in Section 2.6(b). 

“U.S.” means the United States of America and its territories, districts and possessions. 

1.2. Rules of Construction. For purposes of this Agreement, the parties hereto agree that: (a) whenever the context requires, the
singular number shall include the plural, and vice versa; (b) the masculine gender shall include the feminine and neuter genders; the feminine gender shall include the masculine and neuter genders; and the neuter gender shall include masculine
and feminine genders; (c) the word “extent” in the phrase “to the extent” means the degree to which a subject or other thing extends, and does not simply mean “if”; (d) the words “include” and
“including,” and variations thereof, shall not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation;” (e) the meaning assigned to each capitalized term defined and used
in this Agreement is equally applicable to both the singular and the plural forms of such term, and words denoting any gender include all genders; (f) where a word or phrase is defined in this Agreement, each of its other grammatical forms has
a corresponding meaning unless the context otherwise requires; (g) a reference to any specific Legal Requirement or to any provision of any Legal Requirement includes any amendment to, and any modification,
re-enactment or successor thereof, any legislative provision substituted therefor and all rules, regulations and statutory instruments issued thereunder or pursuant thereto; (h) references to any
agreement or Contract are to that agreement or Contract as amended, modified or supplemented; (i) they have been represented by legal counsel during the negotiation and execution and delivery of this Agreement and therefore waive the
application of any Legal Requirement, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document; and (j) the word “or” shall
not be exclusive (i.e., “or” shall be deemed to mean “and/or”) unless the subjects of the conjunction are mutually exclusive. The headings contained in this Agreement are for convenience of reference only, shall not be deemed to
be a part of this Agreement and shall not be referred to in connection with the construction or interpretation of this Agreement. All references to “Dollars” or “$” are to United States Dollars, unless expressly stated otherwise.

  

	2.	 CONTINGENT VALUE RIGHTS 

2.1. CVRs. As provided in the Merger Agreement, effective as of the Effective Time, (i) each Share shall be converted into the
right to receive the Merger Consideration, which includes one CVR, and (ii) each Company Warrant that is assumed and converted pursuant to Section 5.3(c) of the Merger Agreement shall be treated in accordance with its terms. The initial
Holders shall be determined pursuant to the terms of the Merger Agreement and this Agreement, and a list of the initial Holders shall be furnished to the Rights Agent by or on behalf of Parent in accordance with Section 4.1 hereof. 

  
 5 

 2.2. Non-transferable. The CVRs may not be
sold, assigned, transferred, pledged, encumbered or in any other manner transferred or disposed of, in whole or in part, other than through a Permitted Transfer, and, in the case of a Permitted Transfer, only in accordance with Section 2.3(c)
hereof and in compliance with applicable United States federal and state securities laws and the terms and conditions hereto. Any such sale, assignment, transfer, pledge, encumbrance or disposal of CVRs, in whole or in part, in violation of this
Section 2.2, shall be null and void and of no effect. 
 2.3. No Certificate; Registration; Registration of Transfer; Change of
Address. 
 (a) The CVRs shall not be evidenced by a certificate or other instrument. 

(b) The Rights Agent shall keep a register (the “CVR Register”) for the purpose of identifying the Holders and registering
CVRs and transfers of CVRs as herein provided. The CVR Register will initially show one position for Cede & Co. representing all of the CVRs that are issued to the holders of Shares held by DTC on behalf of the street holders of the Shares.
The Rights Agent will have no responsibility whatsoever directly to the street name holders or DTC participants with respect to transfers of CVRs. With respect to any payments to be made under Section 2.4 below, the Rights Agent will accomplish
such payment to any former street name holders of the Shares by sending such payments to DTC. The Rights Agent will have no responsibilities whatsoever with regard to the distribution of payments by DTC to such street name holders. 

(c) Subject to the restrictions on transferability set forth in Section 2.2, every request made to transfer a CVR must be in writing and
accompanied by a written instrument of transfer in form reasonably satisfactory to the Rights Agent pursuant to its written guidelines, duly executed by the Holder thereof, the Holder’s attorney duly authorized in writing, the Holder’s
personal representative or the Holder’s survivor, as applicable, and setting forth in reasonable detail the circumstances relating to the transfer. Upon receipt of such written notice, the Rights Agent shall, subject to its reasonable
determination that the transfer instrument is in proper form and the transfer otherwise complies with the other terms and conditions of this Agreement (including the provisions of Section 2.2), register the transfer of the CVRs in the CVR
Register and notify the Parent of the same. Any registration, transfer or assignment of the CVRs shall be without charge to the Holder (other than payment of a sum to the extent necessary to cover any stamp or other Tax or other governmental charge
that is imposed in connection with any such registration, transfer or assignment). All duly transferred CVRs registered in the CVR Register shall be the valid obligations of Parent and shall entitle the transferee to the same benefits and rights
under this Agreement as those held immediately prior to the transfer by the transferor. No transfer of a CVR shall be valid unless and until registered in the CVR Register. 

(d) A Holder may make a written request to the Rights Agent to change such Holder’s address of record in the CVR Register. The written
request must be duly executed by the Holder. Upon receipt of such written request, the Rights Agent is hereby authorized to, and shall promptly, record the change of address in the CVR Register. 

2.4. Payment Procedures. 

(a) If any Milestone is achieved, then, in each case, on a date (a “Milestone Payment Date”) that is within 60 days
following the last day of such Calendar Quarter in which such Milestone is achieved: 

  
 6 

 (i) Parent will deliver to the Rights Agent (A) a notice (a “Milestone
Notice”) indicating (1) the achievement of such Milestone and that the Holders are entitled to receive the applicable Milestone Amount, and (2) Parent’s election as to which portion of such Milestone Amount shall be settled
by payment of cash (the “Milestone Cash Amount”) pursuant to Section 2.4(b) or by credit of Parent Common Stock (the “Milestone Stock Amount”) pursuant to Section 2.4(c), and (B) cash in the
aggregate amount of the Milestone Cash Amount (if such amount is greater than zero). 
 (ii) Subject to the terms of this Agreement,
including Section 2.4(d), each CVR shall entitle the Holder thereof to receive from Parent the number of fully paid and nonassessable shares of Parent Common Stock equal to the applicable Milestone Stock Amount (determined by dividing such
amount by the Milestone Stock Price), together, if applicable, with any Milestone Cash Amount, any cash payable in lieu of fractional shares as provided in Section 2.8 and any dividends or distributions payable as provided Section 2.9, in
each case subject to any applicable withholding Tax. 
 (b) The Rights Agent shall promptly, and in any event within 10 Business Days of
receipt of a Milestone Notice, as well as any letter of instruction reasonably required by the Rights Agent, send each Holder at its registered address a copy of such Milestone Notice. If any Milestone Cash Amount is payable to the Holders, then at
the time the Rights Agent sends a copy of such Milestone Notice to the Holders, the Rights Agent shall also pay to each Holder, subject to any applicable withholding Tax, the applicable Milestone Cash Amount (the amount of which each Holder is
entitled to receive shall be based on the applicable Milestone Cash Amount multiplied by the number of CVRs held by such Holder as reflected in the CVR Register), in accordance with the corresponding letter of instruction (i) by check mailed to
the address of such Holder reflected in the CVR Register as of 5:00 p.m. New York City time on the date of the applicable Milestone Notice or (ii) with respect to any such Holder that is due an amount in excess of $100,000 in the aggregate who
has provided the Rights Agent wiring instructions in writing as of the close of business on the date of the Milestone Notice, by wire transfer of immediately available funds to the account specified on such instruction. 

(c) Promptly following the Milestone Payment Date, and in any event within 10 Business Days, subject to any withholding Tax, Parent shall
(i) pay the applicable Milestone Stock Amount by crediting (or shall cause its Transfer Agent to credit) the appropriate number of book-entry shares of Parent Common Stock (as determined in accordance with Section 2.4(a)(ii)) to each
Holder in the name of such Holder as recorded in the CVR Register, and such book-entry shares of Parent Common Stock shall be deemed to have been issued and any person so named therein shall be deemed to have become a holder of record of such shares
of Parent Common Stock as of the applicable Milestone Payment Date, and (ii) deliver to the Rights Agent any cash necessary to be paid to Holders in lieu of fractional shares as provided in Section 2.8 hereof, and the Rights Agent shall
deliver to each Holder at his, her or its address appearing on the CVR Register, (x) a written notice specifying the number of shares of Parent Common Stock (if any) paid for each CVR and to whom the shares of Parent Common Stock were issued
and the Rights Agent shall promptly record such issuance in the CVR Register and (y) a check reflecting the amount of any cash in lieu of fractional shares to be provided to such Holder as provided in Section 2.8 hereof and, if applicable,
amounts payable pursuant to Section 2.9. 
 (d) Notwithstanding anything to the contrary herein, in no event shall Parent credit (or
have any obligation to credit) pursuant to, or in connection with, the CVRs a number of shares of Parent Common Stock that exceeds the Parent Share Cap; provided that this Section 2.4(d) shall not be deemed to limit any Holder’s right to
receive any Milestone Amount in full (it being understood that any portion of a Milestone Amount that would otherwise exceed the Parent Share Cap shall be paid as a Milestone Cash Amount). 

  
 7 

 (e) Notwithstanding any other provisions of this Agreement, any portion of the cash provided
by Parent to the Rights Agent as a reserve for purposes of payments to Holders of cash in lieu of fractional shares pursuant to Section 2.8 hereof and, if applicable, amounts payable pursuant to Section 2.4(b) or Section 2.9 that
remains unclaimed as of the first anniversary of the applicable Milestone Payment Date (including by means of uncashed checks or invalid addresses on the CVR Register) shall be delivered to Parent or its designee and not disbursed to the Holders,
and, thereafter, such Holders shall be entitled to look to Parent (subject to abandoned property, escheat and other similar Laws) only as general creditors thereof with respect to such cash that may be payable. 

(f) Neither Parent, the Rights Agent nor any of their Affiliates shall be liable to any Holder for any payments delivered to a public official
pursuant to any abandoned property, escheat law or other similar Legal Requirements. 
 (g) If a Milestone is not achieved during any one of
the 2021, 2022, 2023 or 2024 Calendar Years, then on or before the date that is 60 days after the expiration of each such applicable Calendar Year period, Parent shall deliver to the Rights Agent a certificate certifying that such Milestone has
not occurred, accompanied by a statement setting forth, in reasonable detail, a calculation of Net Sales for the applicable period (each, a “Milestone Non-Achievement Certificate”). The Rights
Agent shall promptly, and in any event within 10 Business Days of receipt of a Milestone Non-Achievement Certificate, send each Holder at its registered address a copy of such Milestone Non-Achievement Certificate, including detail regarding the ability of a Holder or Holders to dispute or contest such determination of non-achievement of a Milestone pursuant
to this Agreement. If the Rights Agent does not receive from the Acting Holders a written objection to (i) a Milestone Non-Achievement Certificate with respect to Milestone 1, if any, within
180 days of the delivery by the Rights Agent of such Milestone Non-Achievement Certificate to the Holders in accordance with this Section 2.4(g), the Holders shall be deemed to have accepted such
Milestone Non-Achievement Certificate and Parent and its Affiliates shall have no further obligation with respect to Milestone 1 and the Milestone 1 Amount, and/or (ii) a Milestone Non-Achievement Certificate with respect to Milestone 2 Milestone 3, and/or Milestone 4, if any, within 180 days of the delivery by the Rights Agent of such Milestone Non-Achievement Certificate with respect the 2024 Calendar Year to the Holders in accordance with this Section 2.4(g), the Holders shall be deemed to have accepted such Milestone
Non-Achievement Certificate and Parent and its Affiliates shall have no further obligation with respect to each such Milestone and the applicable Milestone Amount. 

2.5. Withholding. Each of Parent, the Rights Agent, the Exchange Agent, the Surviving Corporation, their respective Affiliates, and any
other Person who has any obligation to deduct or withhold from any consideration payable pursuant to this Agreement shall be entitled to deduct and withhold from the amounts otherwise payable pursuant to this Agreement such amounts as are required
by any law to be deducted and withheld, as may be reasonably determined by such Person. To the extent that amounts are so withheld and remitted to the appropriate Governmental Body in accordance with applicable Legal Requirements, such withheld
amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction and withholding was made. 

2.6. Reservation of Parent Common Stock. 

(a) Parent will at all times reserve and keep available, free from preemptive rights, out of the aggregate of its authorized but unissued
Parent Common Stock or the authorized and issued Parent Common Stock held in its treasury, for the purpose of enabling it to satisfy any obligation to issue shares of Parent Common Stock to the Holders of CVRs, the maximum number of shares of Parent
Common Stock, subject to Section 2.4(d), which may then be deliverable to the Holders of all outstanding CVRs. 

  
 8 

 (b) Parent will keep a copy of this Agreement on file with the transfer agent for Parent
Common Stock (the “Transfer Agent”) and with every subsequent transfer agent for any shares of Parent Common Stock issuable to Holders of the CVRs. Parent will provide or otherwise make available any cash which may be payable as
provided in Section 2.8 and Section 2.9 hereof. Parent will furnish such Transfer Agent a copy of all notices of adjustments and certificates related thereto transmitted to each Holder pursuant to Section 2.10 hereof. 

(c) Parent covenants that all shares of Parent Common Stock which may be issued upon payment of CVRs will, upon issue, be validly authorized
and issued, fully paid, nonassessable, free of preemptive rights and free from all taxes, liens, charges and security interests with respect to the issuance thereof. Parent will use its reasonable best efforts to obtain all such authorizations,
exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable Parent to perform its obligations under this Agreement. 

2.7. Adjustment of CVRs. 

(a) In case of any capital reorganization, other than any capital reorganization that does not result in any reclassification of the
outstanding shares of Parent Common Stock into shares of other stock or other securities or property (collectively any such actions being hereinafter referred to as “Reorganizations”) and/or any Change of Control, appropriate
adjustment shall be made in the application of the provisions herein set forth with respect to the rights and interests of Holders so that the provisions set forth herein shall thereafter be applicable, as nearly as possible, in relation to any such
shares or other securities, property or cash thereafter deliverable upon payment of CVRs. 
 (b) Whenever an adjustment is made to the terms
of the CVRs pursuant to this Section 2.7, Parent will deliver to the Rights Agent a notice of such Reorganization or Change of Control within 3 Business Days of the closing of such Reorganization or Change of Control, setting forth in
reasonable detail the terms of such Reorganization or Change of Control and any adjustments made pursuant to this Section 2.7. The Rights Agent shall promptly, and in any event within 10 Business Days of receipt of such a notice, send each
Holder a copy of such notice in accordance with Section 7.2 
 (c) The Rights Agent has no duty to determine when an adjustment under
this Section 2.7 should be made, how it should be made or what it should be. The Rights Agent makes no representation as to the validity or value of any securities or assets issuable upon payment of CVRs. The Rights Agent shall not be
responsible for the Parent’s failure to comply with this Section 2.7. 
 (d) For purpose of this Section 2.7, the term
“shares of Parent Common Stock” shall mean (i) shares of the class of stock designated as Common Stock, par value $0.001 per share, of Parent as of the date of this Agreement, and (ii) shares of any other class of stock resulting
from successive changes or reclassification of such shares consisting solely of changes in par value, or from par value to no par value, or from no par value to par value. In the event that at any time, as a result of an adjustment made pursuant to
this Section 2.7, the Holders of CVRs shall become entitled to receive any securities of Parent other than, or in addition to, shares of Parent Common Stock, thereafter the number or amount of such other securities so issuable upon payment of
each CVR shall be subject to terms as nearly equivalent as practicable to the provisions with respect to the shares of Parent Common Stock issuable hereunder. 

  
 9 

 2.8. No Fractional Shares. Parent shall not be required to issue fractional shares of
Parent Common Stock upon payment of CVRs, and no certificates or scrip for any such fractional shares shall be issued. If more than one CVR shall be payable at the same time with respect to the same Holder, the number of full shares of Parent Common
Stock which shall be issuable upon the payment thereof shall be computed on the basis of the aggregate number of shares of Parent Common Stock issuable upon the payment of such CVRs. If any fraction of a share of Parent Common Stock would, except
for the provisions of this Section 2.8, be issuable on the payment of any CVRs, Parent shall pay in cash the dollar amount (rounded to the nearest whole cent, with numbers ending with .5 or more being rounded up to the nearest whole cent),
without interest, determined by multiplying such fraction by the Milestone Stock Price. 
 2.9. Dividends or Other Distributions. No
dividend or other distribution declared with respect to Parent Common Stock with a record date prior to the applicable Milestone Payment Date shall be paid to Holders of CVRs. To the extent any shares of Parent Common Stock are issued to Holders
pursuant to Section 2.4(a)(ii), there shall be paid to such Holders the amount of dividends or other distributions, without interest, declared with a record date after the applicable Milestone Payment Date. 

2.10. Notices to CVR Holders. Upon any adjustment pursuant to Section 2.7, Parent shall give prompt written notice of such
adjustment to the Rights Agent and shall cause the Rights Agent, on behalf of and at the expense of Parent, within 10 days after notification is received by the Rights Agent of such adjustment, to mail by first class mail, postage prepaid, to
each Holder a notice of such adjustment(s) and shall deliver to the Rights Agent a certificate of the Chief Financial Officer of Parent, setting forth in reasonable detail (i) the terms of such adjustment(s), (ii) a brief statement of the facts
requiring such adjustment(s) and (iii) the computation by which such adjustment(s) was made. Where appropriate, such notice by Parent may be given in advance and included as a part of the notice to the Holders required under the other
provisions of this Section 2.10. 
 2.11. Holding of Funds. All funds received by the Rights Agent under this Agreement that are
to be distributed or applied by the Rights Agent in the performance of services hereunder (the “Funds”) shall be held by the Rights Agent as agent for Parent and deposited in one or more bank accounts to be maintained by the Rights
Agent in its name as agent for Parent. Until paid pursuant to the terms of this Agreement, the Rights Agent will hold the Funds through such accounts in: deposit accounts of commercial banks with Tier 1 capital exceeding $1 billion or with an
average rating above investment grade by S&P (LT Local Issuer Credit Rating), Moody’s (Long Term Rating) and Fitch Ratings, Inc. (LT Issuer Default Rating) (each as reported by Bloomberg Finance L.P.). The Rights Agent shall have no
responsibility or liability for any diminution of the Funds that may result from any deposit made by the Rights Agent in accordance with this paragraph, including any losses resulting from a default by any bank, financial institution or other third
party; provided that in the event the Funds are diminished below the level required for the Rights Agent to make cash payments as required under this Agreement, including any such diminishment as a result of investment losses, Parent shall
promptly pay additional cash to the Rights Agent in an amount equal to the deficiency in the amount required to make such payments. The Rights Agent may from time to time receive interest, dividends or other earnings in connection with such
deposits. The Rights Agent shall not be obligated to pay such interest, dividends or earnings to the Parent, any Holder or any other Person, unless there is a diminution of the Funds due to a deposit or investment made by the Rights Agent, in which
case, the Rights Agent agrees that such interest, dividends or earnings shall accrue to the benefit of Parent to the extent of such diminution of the Funds. 

2.12. No Voting, Dividends or Interest; No Equity or Ownership Interest. 

(a) Nothing contained in this Agreement shall be construed as conferring upon any Holder, by virtue of being a Holder of a CVR (and not, for
the avoidance of doubt, shares of Parent Common Stock issued pursuant to a CVR), the right to receive dividends other than as provided in Section 2.9, or the right to vote or to consent or to receive notice as stockholders in respect of the
meetings of stockholders or the election of directors of Parent or any or any other matter, or any other rights of any kind or nature whatsoever as a stockholder of Parent, either at law or in equity. 

  
 10 

 (b) The CVRs shall not represent any equity or ownership interest in Parent or in any
constituent company to the Merger or any of their respective Subsidiaries or Affiliates. The rights of a Holder in respect of the CVRs are limited to those expressed in this Agreement and the Merger Agreement. 

2.13. Ability to Abandon CVR. A Holder may at any time, at such Holder’s option, abandon all of such Holder’s remaining rights
in a CVR by transferring such CVR to Parent or any of its Affiliates without consideration therefor. Nothing in this Agreement shall prohibit Parent or any of its Affiliates from offering to acquire or acquiring any CVRs for consideration from the
Holders, in private transactions or otherwise, in its sole discretion. Any CVRs acquired by Parent or any of its Affiliates shall be automatically deemed extinguished and no longer outstanding for purposes of the definition of Acting Holders and
Section 5 and Section 6. 
  

	3.	 THE RIGHTS AGENT 

3.1. Certain Duties and Responsibilities. Parent hereby appoints the Rights Agent to act as rights agent for Parent in accordance with
the express terms and conditions set forth in this Agreement (and no implied terms and conditions), and the Rights Agent hereby accepts such appointment. The Rights Agent shall not have any liability for any actions taken, suffered or omitted to be
taken in connection with this Agreement, except to the extent of its gross negligence, bad faith or willful or intentional misconduct. 

3.2. Certain Rights of the Rights Agent. The Rights Agent undertakes to perform such duties and only such duties as are specifically set
forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Rights Agent. In addition: 

(a) the Rights Agent may rely and shall be protected and held harmless by Parent in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties; 

(b) whenever the Rights Agent shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action
hereunder, the Rights Agent may rely upon an Officer’s Certificate, which certificate shall be full authorization and protection to the Rights Agent, and the Rights Agent shall, in the absence of gross negligence, bad faith or willful or
intentional misconduct on its part, incur no liability and be held harmless by Parent for or in respect of any action taken, suffered or omitted to be taken by it under the provisions of this Agreement in reliance upon such certificate; 

(c) the Rights Agent may engage and consult with counsel of its selection and the written advice of such counsel or any opinion of counsel
shall be full and complete authorization and protection and shall be held harmless by Parent in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(d) the permissive rights of the Rights Agent to do things enumerated in this Agreement shall not be construed as a duty; 

(e) the Rights Agent shall not be required to give any note or surety in respect of the execution of such powers or otherwise in respect of the
premises; 

  
 11 

 (f) the Rights Agent shall not be liable for or by reason of, and shall be held harmless by
Parent with respect to any of the statements of fact or recitals contained in this Agreement or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by Parent only; 

(g) the Rights Agent shall have no liability and shall be held harmless by Parent in respect of the validity of this Agreement or the execution
and delivery hereof (except the due execution and delivery hereof by the Rights Agent and the enforceability of this Agreement against the Rights Agent assuming the due execution and delivery hereof by Parent); nor shall it be responsible for any
breach by Parent of any covenant or condition contained in this Agreement; 
 (h) Parent agrees to indemnify the Rights Agent for, and hold
the Rights Agent harmless against, any loss, liability, damage, judgement, fine, penalty, claim, demands, suits or expense arising out of or in connection with Rights Agent’s duties under this Agreement, including the reasonable out-of-pocket costs and expenses of counsel in defending Rights Agent against any loss, liability, damage, judgement, fine, penalty, claim, demands, suits or expense, unless
such loss has been determined by a court of competent jurisdiction to be a result of Rights Agent’s gross negligence, bad faith or willful or intentional misconduct; 

(i) Anything to the contrary notwithstanding, in the absence of fraud or willful or intentional misconduct on the part of the Rights Agent,
(i) the Rights Agent shall not be liable for any special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not limited to lost profits) arising out of any act or failure to act hereunder, even
if the Rights Agent has been advised of the likelihood of such loss or damage or has foreseen the possibility or likelihood of such damages and (ii) the aggregate liability of the Rights Agent arising in connection with this Agreement, whether
in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid or payable hereunder by Parent to the Rights Agent as fees and charges; 

(j) Parent agrees (i) to pay the fees and expenses of the Rights Agent in connection with this Agreement agreed upon in writing by the
Rights Agent and Parent prior to the data hereof, and (ii) to reimburse the Rights Agent for all taxes and governmental charges, reasonable out-of-pocket expenses
and other charges of any kind and nature incurred by the Rights Agent in the execution of this Agreement (other than Taxes imposed on or measured by the Rights Agent’s net income and franchise or similar Taxes imposed on it (in lieu of net
income Taxes)); and 
 (k) No provision of this Agreement shall require the Rights Agent to expend or risk its own funds or otherwise incur
any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if there shall be reasonable grounds for believing that repayment of such funds or adequate indemnification against such risk or liability is
not reasonably assured to it. 
 3.3. Resignation and Removal; Appointment of Successor. 

(a) The Rights Agent may resign at any time by giving written notice thereof to Parent specifying a date when such resignation shall take
effect, which notice shall be sent at least 60 days prior to the date so specified but in no event shall such resignation become effective until a successor Rights Agent has been appointed and accepted such appointment in accordance with
Section 3.4. Parent has the right to remove the Rights Agent at any time by specifying a date when such removal shall take effect but no such removal shall become effective until a successor Rights Agent has been appointed and accepted such
appointment in accordance with Section 3.4. Notice of such removal shall be given by Parent to the Rights Agent, which notice shall be sent at least 60 days prior to the date so specified. 

  
 12 

 (b) If the Rights Agent provides notice of its intent to resign, is removed or becomes
incapable of acting, Parent shall, as soon as is reasonably practicable, appoint a qualified successor Rights Agent who shall be a stock transfer agent of national reputation or the corporate trust department of a commercial bank. Notwithstanding
the foregoing, if Parent shall fail to make such appointment within a period of sixty (60) days after giving notice of such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated
Rights Agent, then the incumbent Rights Agent may apply to any court of competent jurisdiction for the appointment of a new Rights Agent. The successor Rights Agent so appointed shall, forthwith upon its acceptance of such appointment in accordance
with Section 3.4, become the successor Rights Agent. 
 (c) Parent shall give notice of each resignation and each
removal of a Rights Agent and each appointment of a successor Rights Agent through the facilities of DTC in accordance with DTC’s procedures and/or by mailing written notice of such event by first-class mail to the Holders as their names and
addresses appear in the CVR Register. Each notice shall include the name and address of the successor Rights Agent. If Parent fails to send such notice within 10 Business Days after acceptance of appointment by a successor Rights Agent, the
successor Rights Agent shall cause the notice to be transmitted at the expense of Parent. Failure to give any notice provided for in this Section 3.3, however, shall not affect the legality or validity of the resignation or removal of the
Rights Agent or the appointment of the successor Rights Agent, as the case may be. 
 (d) Notwithstanding anything else in this
Section 3.3, unless consented to in writing by the Acting Holders, Parent shall not appoint as a successor Rights Agent any Person that is not a stock transfer agent of national reputation or the corporate trust department
of an international commercial bank. 
 3.4. Acceptance of Appointment by Successor. Every successor Rights Agent appointed hereunder
shall, at or prior to such appointment, execute, acknowledge and deliver to Parent and to the retiring Rights Agent an instrument accepting such appointment and a counterpart of this Agreement, and thereupon such successor Rights Agent, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Rights Agent. On request of Parent or the successor Rights Agent, the retiring Rights Agent shall execute and deliver an instrument
transferring to the successor Rights Agent all the rights, powers, trusts and duties of the retiring Rights Agent. 
  

	4.	 COVENANTS 

4.1. List of Holders. Parent shall furnish or cause to be furnished to the Rights Agent, in a form as received from Parent’s
Transfer Agent, the names and addresses of the Holders within 10 days of the Effective Time. 
 4.2. Books and Records. Parent
shall, and shall cause its subsidiaries to, keep true, complete and accurate records in sufficient detail to enable the Holders and their consultants or professional advisors to determine the amounts payable hereunder. 

4.3. Payment of Milestone Cash Amounts. Parent shall duly and promptly deposit with the Rights Agent for payment to the Holders the
Milestone Cash Amounts, if any, in the manner provided for in Section 2.4 and in accordance with the terms of this Agreement. 
 4.4.
Further Assurances. Parent agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered, all such further and other acts, instruments and assurances as may reasonably be required
by the Rights Agent for the carrying out or performing by the Rights Agent of the provisions of this Agreement. 

  
 13 

 4.5. Audit Rights. 

(a) Until December 31, 2025, upon reasonable advance written notice from the Acting Holders, Parent shall permit an independent certified
public accounting firm of nationally recognized standing selected by such Acting Holders and reasonably acceptable to Parent (the “Independent Accountant”) to have access at reasonable times during normal business hours to the books
and records of Parent and its Affiliates as may be reasonably necessary to evaluate and verify Parent’s calculation of Net Sales hereunder; provided that (x) such Acting Holders (and the Independent Accountant) enter into customary
confidentiality agreements reasonably satisfactory to Parent with respect to the confidential information of Parent or its Affiliates to be furnished pursuant to this Section 4.5 and (y) such access does not unreasonably interfere with the
conduct of the business of Parent or any of its Affiliates. The fees charged by such accounting firm shall be borne by Parent. The Independent Accountant shall provide Parent with a copy of all disclosures made to the Acting Holders. The decision of
such accounting firm shall be final, conclusive and binding on Parent and the Holders, shall be nonappealable and shall not be subject to further review, absent manifest error. Parent shall not enter into any transaction constituting a Change of
Control unless such agreement contains provisions that would permit such accounting firm with such access to the records of the other party in such Change of Control if and to the extent as are reasonably necessary to ensure compliance with this
Section 4.5. The audit rights set forth in this Section 4.5(a) may not be exercised by the Acting Holders more than once in any given twelve (12) month period. 

(b) If, in accordance with the procedures set forth in Section 4.5(a), the Independent Accountant concludes that any Milestone Amount
should have been paid but was not paid when due, Parent shall promptly, and in any event within thirty (30) days of the date the Independent Accountant delivers to Parent the Independent Accountant’s written report, pay each Holder such
Milestone Amount (to the extent not paid on a subsequent date), plus interest at the thirty (30) day U.S. dollar “prime rate” effective for the date such payment was due, as reported by Bloomberg, from when such Milestone Amount
should have been paid, as applicable, to the date of actual payment, pursuant to Section 2.4(a)(i) and Sections 2.4(b) and 2.4(c), as applicable. 

4.6. Commercially Reasonable Efforts. Commencing upon the Closing and continuing until the earlier of December 31, 2024 or the
achievement of all Milestones, Parent shall, and shall cause its Affiliates and Licensees to, use Commercially Reasonable Efforts to achieve the Milestones. Without limiting the foregoing, neither Parent nor any of its Affiliates shall act in bad
faith for the purpose of avoiding achievement of any Milestone or the payment of any Milestone Amount. 
  

	5.	 AMENDMENTS 

5.1. Amendments without Consent of Holders. 

(a) Without the consent of any Holders, Parent, at any time and from time to time, may enter into one or more amendments hereto, for any of the
following purposes: 
 (i) to evidence the succession of another person to Parent and the assumption by any such successor of the covenants
of Parent herein; provided that such succession and assumption is in accordance with the terms of this Agreement; 
 (ii) to evidence the
succession of another Person as a successor Rights Agent and the assumption by any such successor of the covenants and obligations of the Rights Agent herein; provided that such succession and assumption is in accordance with the terms of this
Agreement; 

  
 14 

 (iii) to add to the covenants of Parent such further covenants, restrictions, conditions or
provisions as Parent shall consider to be for the protection of the Holders; provided that, in each case, such provisions do not adversely affect the interests of the Holders; 

(iv) to cure any ambiguity, to correct or supplement any provision herein that may be defective or inconsistent with any other provision
herein or in the Merger Agreement, or to make any other provisions with respect to matters or questions arising under this Agreement; provided that, in each case, such provisions do not adversely affect the interests of the Holders; 

(v) as may be necessary or appropriate to ensure that the CVRs are not subject to registration under the Securities Act, the Exchange Act or
any applicable state securities or “blue sky” laws; provided that, such provisions shall not adversely affect the interests of the Holders; 

(vi) to evidence the assignment of this Agreement by Parent as provided in Section 7.3; or 

(vii) as may be necessary or appropriate to ensure that the Company complies with applicable law. 

In addition to the foregoing, upon the request of Parent, the Rights Agent hereby agrees to enter into one or more amendments hereto to evidence the
succession of another person as a successor Rights Agent in accordance with the terms of this Agreement and the assumption by any successor of the covenants and obligations of such Rights Agent herein, without modification of such covenants or
obligations other than as permitted by this Section 5.1. 
 (b) Without the consent of any Holders, Parent and the Rights Agent, at any
time and from time to time, may enter into one or more amendments hereto to reduce the number of CVRs, in the event any Holder agrees to renounce such Holder’s rights under this Agreement in accordance with Section 7.4 or to transfer CVRs
to Parent pursuant to Section 2.13. 
 (c) Promptly after the execution by Parent and the Rights Agent of any amendment pursuant to the
provisions of this Section 5.1, Parent shall mail (or cause the Rights Agent to mail) a notice thereof through the facilities of DTC in accordance with DTC’s procedures and/or by first class mail to the Holders at their addresses as they
appear on the CVR Register, setting forth such amendment. 
 5.2. Amendments with Consent of Holders. 

(a) Subject to Section 5.1 (which amendments pursuant to Section 5.1 may be made without the consent of any Holder), with the written
consent of the Holders of not less than a majority of the outstanding CVRs as set forth in the CVR Register, whether evidenced in writing or taken at a meeting of the Holders, Parent and the Rights Agent may enter into one or more amendments hereto
for the purpose of adding, eliminating or changing any provisions of this Agreement, even if such addition, elimination or change is materially adverse to the interest of the Holders. 

(b) Promptly after the execution by Parent and the Rights Agent of any amendment pursuant to the provisions of this Section 5.2, Parent
shall mail (or cause the Rights Agent to mail) a notice thereof through the facilities of DTC in accordance with DTC’s procedures and/or by first class mail to the Holders at their addresses as they appear on the CVR Register, setting forth
such amendment. 
 5.3. Execution of Amendments. Prior to executing any amendment permitted by this Section 5, the Rights Agent
shall be entitled to receive, and shall be fully protected in relying upon, an opinion of counsel selected by Parent and reasonably acceptable to Rights Agent stating that the execution of such amendment is authorized or permitted by this Agreement.

  
 15 

 5.4. Effect of Amendments. Upon the execution of any amendment under this
Section 5, this Agreement shall be modified in accordance therewith, such amendment shall form a part of this Agreement for all purposes and every Holder shall be bound thereby. 

 

	6.	 REMEDIES OF THE HOLDERS 

6.1. Event of Default. 

(a) “Event of Default” with respect to the CVRs, means each one of the following events which shall have occurred and be
continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of Legal Requirements, pursuant to any judgment, decree or order of any court or any order, rule or regulation of
any Governmental Body or otherwise): (i) default in the payment by Parent pursuant to the terms of this Agreement of all or any part of a Milestone Amount after a period of ten (10) Business Days after the Milestone Amount shall become due and
payable and (ii) material default in the performance, or breach in any material respect, of any other covenant or warranty of Parent hereunder, and continuance of such default or breach for a period of sixty (60) days after a written
notice specifying such default or breach and requiring it to be remedied is given, which written notice states that it is a “Notice of Default” hereunder and is sent by registered or certified mail to Parent and the Rights Agent by the
Acting Holders. 
 (b) If an Event of Default described above occurs and is continuing (and has not been cured or waived), then, and in each
and every such case, the Acting Holders by notice in writing to Parent and the Rights Agent, may, in their discretion, commence a suit to protect the rights of the Holders, including to obtain payment for any amounts then due and payable. 

6.2. Suits by Holders. Except for the rights of the Rights Agent set forth herein, the Acting Holders will have the sole right, on
behalf of all Holders, by virtue of or under any provision of this Agreement, to institute any action or proceeding with respect to this Agreement, and no individual Holder or other group of Holders will be entitled to exercise such rights.
Notwithstanding the foregoing, (a) the right of any Holder of any CVR to receive payment of the amounts that a Milestone Notice indicates are payable in respect of such CVR on or after the applicable due date, or to institute any action or
proceeding for the enforcement of any such payment on or after such due date, shall not be impaired or affected without the consent of such Holder and (b) in the event of an insolvency proceeding of the Parent, individual Holders shall be
entitled to assert claims in such insolvency proceeding and take related actions in pursuit of such claims with respect to any payment that may be claimed by or on behalf of the Parent or by any creditor of the Parent. 

 

	7.	 OTHER PROVISIONS OF GENERAL APPLICATION 

7.1. Notices to the Rights Agent and Parent. Any notice or other communication required or permitted to be delivered to Parent or the
Rights Agent under this Agreement shall be in writing and shall be deemed properly delivered, given and received (a) upon receipt when delivered by hand, (b) two Business Days after being sent by registered mail or by courier or express
delivery service, (c) if sent by email transmission prior to 6:00 p.m. recipient’s local time, upon transmission when receipt is confirmed or (d) if sent by email transmission after 6:00 p.m. recipient’s local time and receipt is
confirmed, the Business Day following the date of transmission; provided that in each case the notice or other communication is sent to the physical address or email address, as applicable, set forth beneath the name of such party below (or
to such other physical address or email address as such party shall have specified in a written notice given to the other party): 

  
 16 

 If to the Rights Agent, to it at: 

[    ] 

[Address] 

Attention: [    ] 

Facsimile: [    ] 

Email: [    ] 

If to Parent, to it at: 
 AcelRx
Pharmaceuticals, Inc. 
 351 Galveston Drive 

Redwood City, California 94063 

Attention: Chief Financial Officer 

E-mail: legal@acelrx.com 

with a copy to: 
 Cooley LLP

 101 California Street, 5th Floor 

San Francisco, CA 94111 

Attention: Robert Phillips; Rama Padmanabhan 

E-mail: rphillips@cooley.com; rama@cooley.com 

Facsimile: (415) 693-2222 

The Rights Agent or Parent may specify a different address, facsimile number or email address by giving notice in accordance with this
Section 7.1. 
 7.2. Notice to Holders. Where this Agreement provides for notice to Holders, such notice shall be sufficiently
given (unless otherwise herein expressly provided) if in writing and transmitted through the facilities of DTC in accordance with DTC’s procedures or mailed, first-class postage prepaid, to each Holder affected by such event, at the
Holder’s address as it appears in the CVR Register, not later than the latest date, and not earlier than the earliest date, if any, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. 

7.3. Successors and Assigns. Parent may assign, in its sole discretion and without the consent of any other Person, any or all of its
rights, interests and obligations hereunder to one or more direct or indirect wholly owned subsidiaries of Parent for so long as they remain wholly owned subsidiaries of Parent and any such subsidiary may assign any or all of its rights, interests
and obligations hereunder to one or more other direct or indirect wholly owned subsidiaries of Parent for so long as they remain wholly owned subsidiaries of Parent; provided that each such assignee agrees to assume and be bound by all of the
terms and conditions of this Agreement; provided, further, that Parent shall remain liable for the performance by each such assignee of all covenants, agreements and obligations of Parent hereunder. This Agreement will be binding upon,
inure to the benefit of and be enforceable by Parent’s successors and each assignee. Each of Parent’s successors and each assignee shall, by a supplemental contingent consideration payment agreement or other acknowledgement executed and
delivered to the Rights Agent, expressly agree to assume and be bound by all of the terms and conditions 

  
 17 

 
of this Agreement. This Agreement shall not restrict Parent’s or any successor’s ability to merge or consolidate or enter into or consummate any Change of Control; provided, that
in the event of a Change of Control, Parent or the Company, as applicable, shall cause the acquirer to assume Parent’s obligations, duties and covenants under this Agreement, in which case the obligation to issue Parent Common Stock set forth
herein shall be assumed by the ultimate parent company in such Change of Control and the equity issuable hereunder shall be the equity of such new Person. Except as otherwise permitted herein, Parent may not assign this Agreement without the prior
written consent of the Acting Holders. Any attempted assignment of this Agreement or any such rights in violation of this Section 7.3 shall be void and of no effect. 

7.4. No Third Party Beneficiaries. Nothing in this Agreement, express or implied, shall give to any Person (other than the Rights Agent
and its permitted successors and assigns, Parent, Parent’s permitted successors and assignees, and the Holders and the Holders’ successors and assigns pursuant to Permitted Transfers, each of whom is intended to be, and is, a third party
beneficiary hereunder) any benefit or any legal or equitable right, remedy or claim under this Agreement or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the Rights Agent and its
permitted successors and assigns, Parent, Parent’s permitted successors and assignees, and the Holders and the Holders’ successors and assigns pursuant to Permitted Transfers. The rights hereunder of Holders and their successors and
assigns pursuant to Permitted Transfers are limited to those expressly provided in this Agreement. Notwithstanding anything to the contrary contained herein, any Holder or Holder’s successor or assign pursuant to a Permitted Transfer may at any
time agree to renounce, in whole or in part, whether or not for consideration, its rights under this Agreement by written notice to the Rights Agent and Parent, which notice, if given, shall be irrevocable, and Parent may, in its sole discretion, at
any time offer consideration to Holders in exchange for their agreement to irrevocably renounce their rights, in whole or in part, hereunder. 

7.5. Governing Law; Jurisdiction. This Agreement, the CVRs and all actions arising under or in connection herewith and therewith
(whether sounding in contract, tort or otherwise) shall be governed by and construed in accordance with the he laws of the State of Delaware, without giving effect to any laws, rules or provisions that would cause the application of the laws of any
jurisdiction other than the State of Delaware. In any action between any of the parties arising out of or relating to this Agreement or the CVRs: (a) each of the parties irrevocably and unconditionally consents and submits to the exclusive
jurisdiction and venue of the Chancery Court of the State of Delaware; and (b) each of the parties irrevocably waives the right to trial by jury. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any
rights or remedies otherwise available. 
 7.6. Severability. In the event that any provision of this Agreement, or the application
thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement shall continue in full force and effect and the application of such provision to other Persons or
circumstances shall be interpreted so as reasonably to effect the intent of the parties. The parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the
extent possible, the economic, business and other purposes of such void or unenforceable provision. 
 7.7. Termination. This
Agreement shall be terminated and of no force or effect, the parties hereto shall have no liability hereunder (other than with respect to monies due and owing by Parent to Rights Agent), and no payments shall be required to be made, or stock to be
credited, upon the earlier to occur of (a) the payment in full of the Milestone 1 Amount, the Milestone 2 Amount and the Milestone 3 Amount, by Parent crediting (or cause its Transfer Agent to credit) the full amount of shares of Parent Common
Stock reflecting each Milestone Stock Amount to each Holder in the name of such Holder as 

  
 18 

 
recorded in the CVR Register and the mailing by the Rights Agent to the address of each Holder as reflected in the CVR Register the full amount of each Milestone Cash Amount and the potential
cash payments in lieu of fractional shares, in each case, as required to be credited or paid, as applicable, under the terms of this Agreement, (b) December 31, 2024, if Milestone 2 and/or Milestone 3 has not been achieved on or prior to
such date, and (c) the termination of the Merger Agreement in accordance with its terms. Notwithstanding the foregoing, no such termination shall affect any rights or obligations accrued prior to the effective date of such termination or
Sections 2.4(e), 2.4(f), 2.4(g), 3.2, 4.5, 7.4, 7.5, 7.6, 7.8, 7.9, 7.10 or this Section 7.7, which shall survive the termination of this Agreement, or the resignation, replacement or removal of the Rights Agent. 

7.8. Entire Agreement; Counterparts. As it relates to the Rights Agent, this Agreement constitutes the entire agreement of the parties
hereto and supersedes all contemporaneous and prior agreements and understandings, both written and oral, among or between any of the parties hereto, with respect to the subject matter hereof. As between the Parent and the Company this Agreement and
the Merger Agreement constitute the entire agreement and supersede all contemporaneous and prior agreements and understandings, both written and oral, among or between any of the parties, with respect to the subject matter hereof. If and to the
extent that any provision of this Agreement is inconsistent or conflicts with the Merger Agreement, this Agreement shall govern and be controlling. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of
which shall constitute one and the same instrument. The exchange of a fully executed Agreement (in counterparts or otherwise) by PDF shall be sufficient to bind the parties hereto to the terms and conditions of this Agreement. 

7.9. No Fiduciary Obligations. Each of Parent and the Rights Agent acknowledges and agrees that the other party, its Affiliates and
their respective officers, directors and controlling Persons do not owe any fiduciary duties to the first party or any of its respective Affiliates, officers, directors or controlling Persons. The only obligations of the Parent and the Rights Agent
to each other and their Affiliates and their respective officers, directors and controlling Persons arising out of this Agreement are the contractual obligations expressly set forth in this Agreement. 

7.10. Confidentiality. The Rights Agent and the Parent agree that all books, records, information and data pertaining to the business of
the other party, including inter alia, personal, non-public Holder information, which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement including the fees for services
set forth in the attached schedule shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be required by a valid order of an arbitration panel, court or governmental body of competent jurisdiction or is
otherwise required by law or regulation, including SEC or Nasdaq rules and regulations, or pursuant to subpoenas from state or federal government authorities (e.g., in divorce and criminal actions). 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 19 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its
behalf by its duly authorized officers as of the day and year first above written. 
  

	
	ACELRX PHARMACEUTICALS, INC.
	
	By:                                     
                                         
                  
	Name:                                     
                                         
            
	Title:                                     
                                         
              
	
	[RIGHTS AGENT]
	
	By:                                     
                                         
                  
	Name:                                     
                                         
            
	Title:                                     
                                         
              

 [Signature Page to Contingent Value Rights Agreement]EX-10.2

 Exhibit 10.2 

CO-PROMOTION AGREEMENT 

THIS CO-PROMOTION AGREEMENT
(this “Agreement”) is entered into as of March 15, 2020 (the “Effective Date”) by and between ACELRX PHARMACEUTICALS, INC., a Delaware
corporation, having an address of 351 Galveston Drive, Redwood City, California 94063 (hereinafter referred to as “AcelRx”), and TETRAPHASE PHARMACEUTICALS, INC., a
Delaware corporation, having an address of 480 Arsenal Way, Suite 100, Watertown, Massachusetts 02472 (hereinafter referred to as “Tetraphase”). AcelRx and Tetraphase are sometimes referred to herein individually as a
“Party” and collectively as the “Parties”. 
 RECITALS 

WHEREAS, each Party is promoting its own pharmaceutical products in the hospital setting; and 

WHEREAS, each Party has a professional Sales Force (as hereinafter defined); and 

WHEREAS, the Parties desire to enhance their respective marketing of their products in the Territory (as
hereinafter defined) by enlisting the support and participation of the other Party’s Sales Force. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the foregoing premises and the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 

1. DEFINITIONS 
 1.1
“AcelRx Patents” shall mean any patent or patent application in the Territory owned or controlled by AcelRx during the term of this Agreement relating to AcelRx Products, including the method of manufacture or the use thereof. 

1.2 “AcelRx Product Rights” shall have the meaning ascribed in Section 8.3 hereof.  

1.3 “AcelRx Products” shall mean the proprietary pharmaceutical products of AcelRx set forth in Schedule A-1. 
 1.4 “AcelRx Sales Force” shall mean AcelRx’s sales personnel calling on
the Target Audience as set forth in Schedule A-1. 
 1.5 “AcelRx Trademarks”
shall mean the trademarks set forth in Schedule A-1, such marks being owned and registered by AcelRx or an AcelRx Affiliate. 

1.6 “Affiliate” of a person or entity shall mean any individual, sole proprietorship, firm, partnership, corporation, trust,
joint venture or other entity, whether de jure or de facto, 

  
 1. 

 
which, directly or indirectly, controls, is controlled by or is under common control with such person or entity. As used in this definition, “control” means the possession, directly or
indirectly, of the power to direct or cause the direction of the policies and management of a person or entity, whether by the ownership of stock, by contract or otherwise. 

1.7 “Agreement” shall have the meaning provided in the preamble. 

1.8 “Applicable Laws” shall mean (a) the applicable statutes, ordinances, other laws, rules, codes, orders, decrees of
courts and regulations of any Governmental Authority in the Territory that may be in effect from time to time that apply to a Party’s activities or obligations under or in connection with this Agreement, including the FD&C Act, the
Prescription Drug Marketing Act of 1987, the Generic Drug Enforcement Act of 1992 (21 U.S.C. § 335a et seq.), the Anti-Kickback Statute (42 U.S.C. § 1320a-7b et seq.), the Patient Protection and
Affordable Care Act (42 U.S.C. § 18001 et seq.), the Antifraud and Abuse Amendment to the Social Security Act, FCPA, HIPAA, Debarment Laws, and all applicable implementing regulations for the foregoing, all as amended from time to time; and
(b) applicable guidelines concerning the advertising and promotion of prescription drug products, including the Office of the Inspector General’s Compliance Guidance Program issued in 2003, the American Medical Association (the
“AMA”) Guidelines on Gifts to Physicians, the Pharmaceutical Research and Manufacturers of America (“PhRMA”) Code on Interactions with Healthcare Professionals, as hereafter amended from time to time (the
“PhRMA Code”), the PhRMA Principles on Conduct of Clinical Trials and Communication of Clinical Trial Results, and the standards set forth by the Accreditation Council for Continuing Medical Education (“ACCME”)
relating to educating the medical community in the United States (“ACCME Standards”), in each case to the extent applicable to the Parties’ activities hereunder and as may be amended or supplemented from time to time. 

1.9 “Calendar Quarter” shall mean each three (3) month period commencing with January 1st, April 1st,
July 1st and October 1st and ending, respectively, on the following March 31st, June 30th, September 30th and December 31st. 

1.10 “Call” shall mean a visit by a member of the Tetraphase Sales Force or AcelRx Sales Force, as applicable, to a member of
the Target Audience. 
 1.11 “Change of Control” means, with respect to a Party: (a) the sale of all or substantially
all of such Party’s assets or business relating to this Agreement; (b) a merger, reorganization or consolidation involving such Party in which the voting securities of such Party outstanding immediately prior thereto cease to represent at
least fifty percent (50%) of the combined voting power of the surviving entity immediately after such merger, reorganization or consolidation; or (c) a person or entity, or group of persons or entities, acting in concert acquire more than fifty
percent (50%) of the voting equity securities or management control of such Party.  
 1.12 “Change of Control Party”
shall have the meaning ascribed in Section 6.2 hereof.  
 1.13 “Coordinator” shall have the meaning ascribed in
Section 2.1 hereof. 

  
 2. 

 1.14 “Co-Promotion Period” shall
mean the period starting on March 1, 2020 and ending on the earlier of (a) March 1, 2025 or (b) termination of this Agreement pursuant to Article 6. 

1.15 “Effective Date” shall have the meaning ascribed in the preamble. 

1.1 “FCPA” means the U.S. Foreign Corrupt Practices Act of 1977, as amended, including the rules and regulations thereunder.

 1.16 “FDA” shall mean the United States Food and Drug Administration or any successor entity. 

1.17 “FD&C Act” shall mean the United States Federal Food, Drug, and Cosmetic Act, as amended
from time to time. 
 1.18 “Field” shall mean the treatment of any and all indications for which the applicable Product is
approved in humans in the Territory. 
 1.19 “Governmental Authority” shall mean any federal, state, local, municipal or
other government authority of any nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council, court or other tribunal). 

1.20 “HIPAA” means the Health Insurance Portability and Accountability Act of 1996, as amended, and the regulations
promulgated thereunder.  
 1.21 “Information” shall have the meaning ascribed in Section 10.1 hereof. 

1.22 “JMSC” shall mean the Joint Marketing and Sales Committee formed by the Parties to develop marketing strategies and plans
for the Products and to coordinate Product marketing and sales activities, as further described in Section 2.2 hereof. 
 1.23
“Liabilities” shall have the meaning ascribed in Section 9.1 hereof.  
 1.24 “Marketing Plan”
shall have the meaning provided in Section 2.3 hereof. 
 1.25 “Non-Change of
Control Party” shall have the meaning ascribed in Section 6.2 hereof.  
 1.26 “Pharmacovigilance
Agreement” shall have the meaning ascribed in Section 5.1 hereof.  
 1.27 “Primary
Presentation” shall mean a Call during which key product attributes of a Product are verbally promoted and detailed in the first position on such Call; provided, however, that no less than sixty percent (60%) of the
substantive portion of the Call shall be dedicated to promotion and detailing of such Product. 
 1.28
“Product(s)” shall mean the AcelRx Products and the Tetraphase Products. 

  
 3. 

 1.29 “Product Labeling” shall mean (a) the
FDA full prescribing information for the applicable Product, including any required patient information, and (b) all labels and other written, printed or graphic matter upon any container, wrapper or any package insert or outsert utilized with
or for such Product. Product Labeling for AcelRx Products will be referred to as AcelRx Product(s) Labeling, and Product Labeling for Tetraphase Products will be referred to as Tetraphase Product(s) Labeling. 

1.30 “Product Party” shall mean, with respect to any AcelRx Product, AcelRx, and, with respect to any
Tetraphase Product, Tetraphase. 
 1.31 “Promotional Materials” shall mean sales representative
training materials and all written, printed, graphic, electronic, audio or video matter, including but not limited to journal advertisements, sales visual aids, leave items, formulary binders, reprints, direct mail, direct-to-consumer advertising, internet postings, and broadcast advertisements, in each case created by the Product Party or on its behalf and used or intended for use by the Parties in connection with the co-promotion of the applicable Product to the Target Audience in the Field hereunder, but excluding any Product Labeling. 

1.32 “Regulatory Approvals” shall mean any approvals (including, but not limited to, NDA approval,
labeling, pricing and reimbursement approvals), product, biologic and/or establishment licenses, registrations or authorizations of any federal, state or local regulatory agency, department, bureau or other governmental entity, necessary for the
commercial manufacture, use, storage, importation, export, transport or sale of Products in the Territory. 
 1.33
“Sales Force” shall mean the AcelRx Sales Force and the Tetraphase Sales Force. 
 1.34
“Secondary Presentation” shall mean a Call during which key product attributes of a Product are verbally promoted and detailed in the second position on such Call. 

1.35 “Target Audience” shall mean the appropriate health care provider that may be a user or
purchaser of a Product at an institution identified in the applicable Marketing Plan or otherwise approved by the JMSC (such institution being a “Target Institution”). 

1.36 “Territory” shall mean the United States and its territories and possessions. 

1.37 “Tetraphase Patents” shall mean any patent or patent application in the Territory owned or
controlled by Tetraphase during the term of this Agreement relating to Tetraphase Products, including the method of manufacture or the use thereof. 

1.38 “Tetraphase Product Rights” shall have the meaning ascribed in Section 8.3 hereof.  

1.39 “Tetraphase Products” shall mean the proprietary pharmaceutical products of Tetraphase set
forth in Schedule A-2. 

  
 4. 

 1.40 “Tetraphase Sales Force” shall mean
Tetraphase’s sales personnel calling on the Target Audience as set forth in Schedule A-2.  

1.41 “Tetraphase Trademarks” shall mean the trademarks set forth in Schedule A-2, such marks being owned and registered by Tetraphase or a Tetraphase Affiliate. 
 1.42
“Third Party” shall mean any entity other than AcelRx or Tetraphase or an Affiliate of AcelRx or Tetraphase. 

2. SCOPE; MANAGEMENT 

It is the objective of the Parties to promote and detail the Products to the Target Audience during the
Co-Promotion Period. To achieve this, the Parties agree as follows: 
 2.1 Coordinators. The
Parties shall each appoint an authorized representative (“Coordinator”) with whom communications between the Parties relating to marketing and sales of the Products will be directed. Each Party will notify the other as to the name
of the individual so appointed. Each Party may replace its Coordinator at any time, upon written notice to the other Party. 
 2.2
Management. The Parties shall establish a Joint Marketing and Sales Committee consisting of three (3) representatives of each Party to discuss and coordinate the promotion and detailing of the Products by the Sales Force to the Target
Audience. An alternate member designated by a Party may serve temporarily in the absence of a permanent member designated by such Party. No business shall be transacted at any meeting of the JMSC unless a quorum of members is present at the time
when the meeting proceeds to business. A quorum shall be at least four (4) members present or by their alternate, two (2) of whom must be a representative appointed by AcelRx and two (2) of whom must be a representative appointed by
Tetraphase. Subject to Section 2.3, actions by the JMSC pursuant to this Agreement shall be taken through the mutual agreement of the representatives of both Parties on the JMSC. Each Party shall designate one of its representatives to the JMSC
as a Co-Chair of the JMSC. Each Co-Chair of the JMSC will be responsible for coordinating (with the other Co-Chair) the agenda
for and preparing the minutes of alternating meetings of the JMSC and for speaking on behalf of his/her constituent Party (i.e., subject to Section 2.3, the approval of a matter by the JMSC shall require the affirmative vote of both Co-Chairs) for purposes of making decisions hereunder. Each Party shall bear its own costs of participating in the JMSC. 

2.3 Marketing Plan and Compensation Plan. The JMSC shall develop and approve a plan for promotion and detailing of each Product to the
Target Audience by the Sales Force (each a “Marketing Plan”); provided, however, that if the JMSC fails to approve a proposed Marketing Plan, then, so long as such Marketing Plan is compliant with the parameters set forth in
Schedule B, if such Marketing Plan is for a Tetraphase Product, Tetraphase shall have final decision making with respect thereto, and, if such Marketing Plan is for an AcelRx Product, AcelRX shall have final decision making with respect
thereto; and provided, further that in no event shall a Party be required hereunder to conduct any activities under a Marketing Plan that has not been approved by the JMSC other than those activities that are compliant with the

  
 5. 

 
parameters set forth in Schedule B. Each Marketing Plan shall (subject to extension if the Parties agree to extend the Co-Promotion Period) be a
plan that includes a comprehensive marketing, promotion and sales strategy for each applicable Product to the Target Audience during the Co-Promotion Period; provided, however, that each Marketing Plan
shall be subject to the parameters set forth in Schedule B. Each Party shall be responsible for implementing the activities assigned to such Party in the applicable Marketing Plan (although neither Party warrants the success of the Marketing
Plan). In connection with the generation of the Marketing Plans that are submitted to the JMSC, AcelRx shall be responsible for developing the marketing strategies and tactics, including but not limited to the detailing strategies, for the AcelRx
Products set forth in the Marketing Plan for AcelRx Products, and Tetraphase shall be responsible for developing the marketing strategies and tactics, including but not limited to the detailing strategies, for the Tetraphase Products set forth in
the Marketing Plan for Tetraphase Products; provided, however, that such marketing strategies and tactics shall not require the other Party to assume responsibility for activities in excess of the amounts set forth in Schedule B;
provided, however, that in no event shall either Party be required by the other Party or the JMSC to implement any Marketing Plan or engage in any activity hereunder which is in violation of any Applicable Law or written policy of such Party.
The JMSC shall also develop and approve an annual compensation plan for each Sales Force (each a “Compensation Plan”) that sets forth the management and business objectives for the Sales Force and the sales incentives for cartons
sold of the Products on a quarterly basis, beginning July 1, 2020. 
 2.4 Meetings of the JMSC. 

(a) The JMSC shall hold meetings at such times and places as shall be determined by the
Co-Chairs of the JMSC, but in no event shall such meetings be held less frequently than once every month; provided, however, that in the event of a Change of Control of a Party, the Non-Change of Control Party will have the right to request bi-weekly meetings of the JMSC; 

(b) The JMSC may conduct meetings in person or by telephone or video conference or other means, provided that any decision made during a
telephone conference meeting is evidenced in writing signed by the Co-Chairs of the JMSC; 
 (c)
By mutual consent of the Co-Chairs of the JMSC, such consent not to be unreasonably withheld, either Party may invite other personnel of its organization to attend appropriate meetings of the JMSC; 

(d) The JMSC shall keep minutes reflecting actions taken at meetings; 

(e) The JMSC may act without a meeting if prior to such action the JMSC members agree regarding such action and a written consent
thereto is signed by the Co-Chairs of the JMSC; and 
 (f) The JMSC may amend or expand upon
the foregoing procedures for its internal operations by mutual consent of the Co-Chairs of the JMSC. 

  
 6. 

 2.5 Limitations of JMSC Powers. The JMSC shall not have any power to amend this
Agreement or bind or incur liability on behalf of either Party hereto without such Party’s express prior written authorization, and shall have only such powers as are specifically delegated to them hereunder. 

2.6 Authority to Call Meetings. Notwithstanding the regular meeting schedule of the JMSC, a meeting of the JMSC may be called by either
Party on ten (10) days’ written notice to the other, unless such notice is waived by the other Party. In the event of any meeting called pursuant to a notice under this Section 2.6, the Party calling the meeting shall provide an
agenda for the meeting together with the information that such Party believes is relevant for the items to be discussed. Neither Party shall call more than two (2) additional meetings per Calendar Quarter for the JMSC under this
Section 2.6 without the other Party’s consent. The Party not calling the meeting under this Section 2.6 shall select the location for the meeting, subject to Section 2.4(b). 

3. PROMOTION OF PRODUCTS 

3.1 AcelRx Products. During the Co-Promotion Period and subject to the terms and conditions of
this Agreement, AcelRx hereby appoints Tetraphase to promote and detail AcelRx Products to the Target Audience in accordance with the Marketing Plan for the AcelRx Products. 

3.2 Tetraphase Products. During the Co-Promotion Period and subject to the terms and conditions
of this Agreement, Tetraphase hereby appoints AcelRx to promote and detail Tetraphase Products to the Target Audience in accordance with the Marketing Plan for the Tetraphase Products. 

3.3 Promotion Efforts. During the Co-Promotion Period and subject to the terms and conditions of
this Agreement, each Party shall deploy its Sales Force to promote and detail the Products to the Target Audience in the Field in accordance with the applicable Marketing Plan. In this regard, each Party will provide a Sales Force for detailing and
promoting the Products. In particular, each Party shall be responsible for the following: 
 (a) Each Party shall supervise, train and
maintain such competent and qualified sales representatives as may be required to promote and detail the Products as provided herein and in the applicable Marketing Plan, such training to include participating in an
in-person training session of approximately three (3) days to commence on or about March 23, 2020 to be held jointly by the Parties and the cost of such
in-person meeting to be shared equally by the Parties. It is also agreed to that each member of the AcelRx Sales Force shall perform at home training for the Tetraphase Products for approximately two weeks at half-day training sessions and each member of the Tetraphase Sales Force shall perform at home training for the AcelRx Products for approximately two weeks at half-day
training sessions. The contents of such training shall be reviewed and approved by the JMSC. Moreover, each member of the Sales Force shall satisfactorily complete a reasonable proficiency examination with respect to each Product. If any member of
the Sales Force cannot satisfactorily complete a proficiency examination after the second attempt, the issue shall be raised with the JMSC for consideration and determination of an appropriate course of action. 

  
 7. 

 (b) Each Party shall in all material respects conform its practices and procedures
relating to the marketing, detailing and promotion of the Products to the Target Audience in the Field to all Applicable Laws, and shall promptly notify the other Party of and provide the other Party with a copy of any correspondence or other
reports with respect to the marketing, detailing and promotion of Products submitted to or received from the U.S. Department of Health and Human Services or its components (including the FDA and the Office of the Inspector General), PhRMA or the AMA
relating to such laws, regulations and guidelines. 
 (c) Each Party shall in all material respects conform its practices and
procedures relating to educating the medical community in the United States with respect to the Products to the ACCME Standards and any applicable FDA regulations or guidelines, as the same may be amended from time to time, and promptly notify the
other Party of and provide the other Party with a copy of any correspondence or other reports submitted to or received from the ACCME with respect to the Products relating to the ACCME Standards or such FDA regulations. 

(d) At AcelRx’s reasonable request, Tetraphase shall provide AcelRx with copies of any written communications disseminated by
Tetraphase generally to the Tetraphase Sales Force in the Territory relating to marketing, detailing and promotion of Tetraphase Products. At Tetraphase’s reasonable request, AcelRx shall provide Tetraphase with copies of any written
communications disseminated by AcelRx generally to the AcelRx Sales Force in the Territory relating to marketing, detailing and promotion of AcelRx Products. The AcelRx Sales Force shall only use only promotional materials approved by Tetraphase
with respect to the Tetraphase Products. The Tetraphase Sales Force shall use only promotional materials approved by AcelRx with respect to the AcelRx Products. 

(e) In connection with the promotion and detailing of AcelRx Products hereunder, Tetraphase and the Tetraphase Sales Force shall make no
statement, representation or warranty, oral or written, to Third Parties, concerning AcelRx Products that is inconsistent with, or contrary to, the AcelRx Products Labeling or AcelRx Promotional Materials. In connection with the promotion and
detailing of Tetraphase Products hereunder, AcelRx and the AcelRx Sales Force shall make no statement, representation or warranty, oral or written, to Third Parties, concerning Tetraphase Products that is inconsistent with, or contrary to, the
Tetraphase Products Labeling or Tetraphase Promotional Materials. 
 (f) Each Party shall in all material respects conform its
practices and procedures relating to sampling in the Territory to sampling practices and procedures in compliance with the Prescription Drug Marketing Act of 1987, as the same may be amended from time to time. 

3.4 Detailing Requirements. Tetraphase hereby agrees that each member of the Tetraphase Sales Force shall use reasonable efforts to
(i) conduct at least forty (40) Calls per month with at least twenty (20) of these Calls including AcelRx Products as the Primary Presentation and at least twenty (20) of these Calls including AcelRx Products as the Secondary
Presentation and (ii) conduct Calls at at least ten (10) separate Target Institutions per month. AcelRx hereby agrees that each member of the AcelRx Sales Force shall use reasonable efforts

  
 8. 

 
to (i) conduct at least forty (40) Calls per month with at least twenty (20) of these Calls including Tetraphase Products as the Primary Presentation and at least twenty
(20) of these Calls including Tetraphase Products as the Secondary Presentation and (ii) conduct Calls at at least ten (10) separate Target Institutions per month. Notwithstanding the foregoing, the monthly requirements for a member
of a Sales Force shall be subject to adjustment to the extent that such member takes paid time off and does not work at least 20 days during such month (for clarity, a Sales Force member who works fifteen (15) days during a month shall only be
required to conduct at least thirty (30) Calls during such month with at least fifteen (15) of these Calls being required to be a Primary Presentation and at least fifteen (15) of these Calls being required to be a Secondary
Presentation and to conduct Calls at at least five (5) separate Target Institutions during such month). 
 3.5 Expenses.
Subject to the terms and conditions of this Agreement, during the Co-Promotion Period, each Party will bear any costs and expenses incurred by such Party in the conduct of activities under this
Agreement. Any promotional programs, including, but not limited to, speaker programs, dinner programs, lunch programs, or the like, shall be funded, hosted and presented by Tetraphase marketing personnel if related to the Tetraphase Products. Any
promotional programs, including, but not limited to, speaker programs, dinner programs, lunch programs, or the like, shall be funded, hosted and presented by AcelRx marketing personnel if related to the AcelRx Products. The Parties further agree
that no such programs may be held under this Agreement prior to April 1, 2020. 
 3.6 Sales Force. Tetraphase shall not permit
any of the Tetraphase Sales Force to promote AcelRx Products unless such sales personnel have been fully trained and qualified in accordance with Section 3.3(a). Tetraphase shall be responsible for the compliance of the Tetraphase Sales Force
with all relevant terms of this Agreement and each Marketing Plan. AcelRx shall not permit any of the AcelRx Sales Force to promote Tetraphase Products unless such sales personnel have been fully trained and qualified in accordance with
Section 3.3(a). AcelRx shall be responsible for the compliance of the AcelRx Sales Force with all relevant terms of this Agreement and each Marketing Plan. 

3.7 Proprietary Rights in Products and Promotional Materials. Neither Party will have nor represent that it has any control or
proprietary or property interests in the other Party’s Products. Nothing contained herein shall be deemed to grant either Party, either expressly or by implication, a license or other right or interest in any patent, trademark, copyright or
other similar property of the other Party except as may be necessary for such Party to promote and detail Products as provided for in this Agreement. 

3.8 Promotional Materials. 

(a) During the Co-Promotion Period, AcelRx shall create and develop, and shall provide to
Tetraphase, such AcelRx Promotional Materials relating to AcelRx Products as are determined by AcelRx, in its sole discretion, to be necessary under the applicable Marketing Plan for distribution to the Target Audience in the Field, it being
understood that the costs thereof shall be borne by AcelRx hereunder. The Parties shall establish a tracking system or utilize AcelRx’s tracking system (if appropriate and mutually agreed) for AcelRx Promotional

  
 9. 

 
Materials to ensure that all such AcelRx Promotional Materials are accurately tracked and submitted to the FDA as required by Applicable Laws. AcelRx will file all AcelRx Promotional Materials
for AcelRx Products with the FDA if and as required by FDA regulations. 
 (b) Other than with the prior written consent of AcelRx,
Tetraphase shall not create or develop sales, promotional or other similar materials relating to AcelRx Products for distribution to Third Parties. Tetraphase shall distribute AcelRx Promotional Materials in accordance with the applicable Marketing
Plan and with the terms of this Agreement. In no event shall AcelRx be required to distribute any AcelRx Promotional Materials which contains a reference to Tetraphase or any Tetraphase product, but AcelRx may identify Tetraphase’s involvement
in the promotion of AcelRx Products therein if AcelRx, in its sole discretion, deems it appropriate to do so. 
 (c) AcelRx shall own
all right, title and interest in and to the AcelRx Promotional Materials for AcelRx Products, including all copyrights appurtenant thereto but excluding any rights in or to the Tetraphase Trademarks. AcelRx hereby grants to Tetraphase the right,
during the Co-Promotion Period and subject to the terms and conditions of this Agreement, to use AcelRx Promotional Materials in connection with its promotion of AcelRx Products hereunder. 

(d) During the Co-Promotion Period, Tetraphase shall create and develop, and shall provide to
AcelRx, such Tetraphase Promotional Materials relating to Tetraphase Products as are determined by Tetraphase, in its sole discretion, to be necessary under the applicable Marketing Plan for distribution to the Target Audience in the Field, it being
understood that the costs thereof shall be borne by Tetraphase hereunder. The Parties shall establish a tracking system or utilize Tetraphase’s tracking system (if appropriate and mutually agreed) for Tetraphase Promotional Materials to ensure
that all such Tetraphase Promotional Materials are accurately tracked and submitted to the FDA as required by Applicable Laws. Tetraphase will file all Tetraphase Promotional Materials for Tetraphase Products with the FDA if and as required by FDA
regulations. 
 (e) Other than with the prior written consent of Tetraphase, AcelRx shall not create or develop sales, promotional or
other similar materials relating to Tetraphase Products for distribution to Third Parties. AcelRx shall distribute Tetraphase Promotional Materials in accordance with the applicable Marketing Plan and with the terms of this Agreement. In no event
shall Tetraphase be required to distribute any Tetraphase Promotional Material which contains a reference to AcelRx or any AcelRx product, but Tetraphase may identify AcelRx’s involvement in the promotion of Tetraphase Products therein if
Tetraphase, in its sole discretion, deems it appropriate to do so. 
 (f) Tetraphase shall own all right, title and interest in and to
the Tetraphase Promotional Materials for Tetraphase Products, including all copyrights appurtenant thereto but excluding any rights in or to the AcelRx Trademarks. Tetraphase hereby grants to AcelRx the right, during the Co-Promotion Period and subject to the terms and conditions of this Agreement, to use Tetraphase Promotional Materials in connection with its promotion of Tetraphase Products hereunder. 

  
 10. 

 3.9 Sales and Distribution; Recalls. Each Party shall have the sole right and
responsibility, and shall bear all costs related thereto, to take such actions with respect to its Products as it would normally take in accordance with accepted business practices and legal requirements to maintain the authorization and/or ability
to market such Products in the Territory, including, without limitation, the following: 
 (a) Manufacturing (if applicable) and
distributing its Products in the Territory; 
 (b) booking sales and distribution of such Products hereunder and performance of
related services. If Tetraphase receives any orders for AcelRx Products in the Territory during the Co-Promotion Period, it shall promptly refer such orders to AcelRx, and, if AcelRx receives any orders for
Tetraphase Products in the Territory during the Co-Promotion Period, it shall promptly refer such orders to Tetraphase; 

(c) handling all aspects of order processing, invoicing and collection, inventory and receivables; 

(d) ensuring that sufficient stock of its Products will be available in its inventory to promptly fill orders to the Target Audience in
the Field, subject to Section 11.8; 
 (e) providing customer support, including handling medical queries, and performing other
functions consistent with consumer practice for prescription pharmaceuticals and with the applicable Marketing Plan; 
 (f) responding
to product and medical complaints relating to its Products; 
 (g) handling all returns of its Products. If any AcelRx Product is
returned to Tetraphase, it shall be shipped to AcelRx’s nearest facility, with any reasonable or authorized shipping or other documented direct cost to be paid by AcelRx. Tetraphase, if requested by AcelRx, shall advise the customer who made
the return that the AcelRx Product has been returned to AcelRx. If any Tetraphase Product is returned to AcelRx, it shall be shipped to Tetraphase’s nearest facility, with any reasonable or authorized shipping or other documented direct cost to
be paid by Tetraphase. AcelRx, if requested by Tetraphase, shall advise the customer who made the return that the Tetraphase Product has been returned to Tetraphase; 

(h) handling all voluntary recalls and market withdrawals of its Products. Each Party will make available to the other Party, upon
request, all of such Party’s pertinent records which the other Party may reasonably request to assist it in effecting any recall or market withdrawals. Any and all reasonable and documented costs and expenses incurred by a Party in the conduct
of any such recall or market withdrawal of a Product shall be reimbursed by the Product Party, except to the extent such recall or market withdrawal was the result of the failure of the other Party to comply with its obligations under this
Agreement; 
 (i) communicating with any governmental agencies and satisfying their requirements regarding Regulatory Approvals of its
Products in the Territory; provided a Party may communicate directly with a governmental agency which has contacted such Party in connection with its detailing activities hereunder (and if a Party is so contacted with respect to its detailing
activities regarding the other Party’s Product hereunder, such Party shall to the extent such Party is legally permitted to do so notify and consult with such other Party regarding such communication with such governmental agency); and 

  
 11. 

 (j) reporting adverse reaction reports for its Products to U.S. regulatory
authorities as required by applicable U.S. law or regulation. 
 Notwithstanding the applicable Marketing Plan or any other provision herein
to the contrary, each Product Party shall have the sole right and responsibility for establishing and modifying the terms and conditions with respect to the sale of its Products, including, without limitation, the price at which its Products will be
sold, any discounts attributable to payments on receivables and distribution of its Products. In addition, notwithstanding any other provision herein to the contrary, each Product Party and its Affiliates shall at all times retain the right to
promote and detail its Products in the Territory using their respective Sales Forces in any manner that is not inconsistent with the Marketing Plan therefor. 

4. TRADEMARKS 
 4.1
Labeling; Ownership of Trademarks for AcelRx Products. When packaged, all quantities of AcelRx Products distributed by AcelRx to the Target Audience will bear the applicable AcelRx Trademarks (or such other trademarks determined by AcelRx) and
the AcelRx Product Labeling only. In addition, all AcelRx Promotional Materials shall feature the applicable AcelRx Trademarks (or such other trademarks determined by AcelRx). The ownership and use of the AcelRx Trademarks shall be governed by the
following provisions: 
 (a) AcelRx or an Affiliate of AcelRx shall retain the ownership of the entire right, title and interest in
and to the AcelRx Trademarks. 
 (b) AcelRx shall, at its cost and expense, file (to the extent necessary) in the Territory and
endeavor in good faith to obtain the registration of the AcelRx Trademarks in the Territory, and, when registered, thereafter maintain the AcelRx Trademarks in the Territory. Tetraphase agrees that in using AcelRx Trademarks in its activities under
this Agreement it will not represent in any way that it has any right or title to the ownership of the AcelRx Trademarks or the registration thereof, and the registration will remain in the ownership of AcelRx. Such AcelRx Trademarks will be used by
Tetraphase on behalf of, and in the interest of, AcelRx, and Tetraphase will first obtain the written approval of AcelRx of the form and manner in which the AcelRx Trademarks will be used upon, in connection with, or in relation to materials other
than AcelRx Promotional Materials as may be permitted by this Agreement. 
 (c) Tetraphase recognizes AcelRx’s title in and to
the AcelRx Trademarks and to the registration thereof, and will not, at any time, do or authorize any act or thing that will in any way impair the rights of AcelRx in and to the AcelRx Trademarks and the registration thereof. Wherever the AcelRx
Trademarks are used (e.g., on any package, label or advertisement), the first or most prominent use shall always be accompanied by a legend acceptable to AcelRx indicating that the applicable AcelRx Trademark is a registered trademark of
AcelRx and the AcelRx Trademarks are licensed to Tetraphase by AcelRx. In the event that 

  
 12. 

 
Tetraphase, either directly or indirectly, challenges the title of AcelRx to any AcelRx Trademark or the validity of such registration obtained by AcelRx for the same, and Tetraphase fails to
withdraw such challenge within one (1) month of receipt of AcelRx’s written request therefor, AcelRx shall have the right to immediately terminate this Agreement. For clarity, such termination shall constitute a termination for material
breach but shall not be subject to further cure under Section 6.4. 
 (d) Tetraphase shall, upon AcelRx’s request, and at
AcelRx’s expense, reasonably assist AcelRx in any action reasonably necessary or desirable to protect the AcelRx Trademarks used or proposed to be used hereunder. Tetraphase shall as soon as practicable notify AcelRx of any apparent
infringement by a Third Party of any of the AcelRx Trademarks. 
 (e) After discussion and upon notice and demand from AcelRx,
Tetraphase shall immediately discontinue the use of any of the AcelRx Trademarks upon notice from a Third Party that such use is or is alleged to be an infringement of such Third Party’s trademark rights, unless Tetraphase determines that it
does not wish to discontinue use of any of the AcelRx Trademarks, in which case all liability of AcelRx, Tetraphase and their respective Affiliates arising out of Tetraphase’s use of any such AcelRx Trademark after such notice shall be borne by
Tetraphase. In the event of any such Third Party notice, request by AcelRx to discontinue the use of an AcelRx Trademark and subsequent discontinuance by Tetraphase, AcelRx shall select a new AcelRx Trademark to be used with such AcelRx Product and
shall promptly notify Tetraphase in writing of such selection. 
 4.2 Labeling; Ownership of Trademarks for Tetraphase Products. When
packaged, all quantities of Tetraphase Products distributed by Tetraphase to the Target Audience will bear the applicable Tetraphase Trademarks (or such other trademarks determined by Tetraphase) and the Tetraphase Product Labeling only . In
addition, all Tetraphase Promotional Materials shall feature the applicable Tetraphase Trademarks (or such other trademarks determined by Tetraphase). The ownership and use of the Tetraphase Trademarks shall be governed by the following provisions:

 (a) Tetraphase or an Affiliate of Tetraphase shall retain the ownership of the entire right, title and interest in and to the
Tetraphase Trademarks. 
 (b) Tetraphase shall, at its cost and expense, file (to the extent necessary) in the Territory and endeavor
in good faith to obtain the registration of the Tetraphase Trademarks in the Territory, and, when registered, thereafter maintain the Tetraphase Trademarks in the Territory. AcelRx agrees that in using Tetraphase Trademarks in its activities under
this Agreement it will not represent in any way that it has any right or title to the ownership of the Tetraphase Trademarks or the registration thereof, and the registration will remain in the ownership of Tetraphase. Such Tetraphase Trademarks
will be used by AcelRx on behalf of, and in the interest of, Tetraphase, and AcelRx will first obtain the written approval of Tetraphase of the form and manner in which the Tetraphase Trademarks will be used upon, in connection with, or in relation
to materials other than Tetraphase Promotional Materials as may be permitted by this Agreement. 

  
 13. 

 (c) AcelRx recognizes Tetraphase’s title in and to the Tetraphase Trademarks and
to the registration thereof, and will not, at any time, do or authorize any act or thing that will in any way impair the rights of Tetraphase in and to the Tetraphase Trademarks and the registration thereof. Wherever the Tetraphase Trademarks are
used (e.g., on any package, label or advertisement), the first or most prominent use shall always be accompanied by a legend acceptable to Tetraphase indicating that the applicable Tetraphase Trademark is a registered trademark of Tetraphase
and the Tetraphase Trademarks are licensed to AcelRx by Tetraphase. In the event that AcelRx, either directly or indirectly, challenges the title of Tetraphase to any Tetraphase Trademark or the validity of such registration obtained by Tetraphase
for the same, and AcelRx fails to withdraw such challenge within one (1) month of receipt of Tetraphase’s written request therefor, Tetraphase shall have the right to immediately terminate this Agreement. For clarity, such termination
shall constitute a termination for material breach but shall not be subject to further cure under Section 6.4. 
 (d) AcelRx
shall, upon Tetraphase’s request, and at Tetraphase’s expense, reasonably assist Tetraphase in any action reasonably necessary or desirable to protect the Tetraphase Trademarks used or proposed to be used hereunder. AcelRx shall as soon as
practicable notify Tetraphase of any apparent infringement by a Third Party of any of the Tetraphase Trademarks. 
 (e) After
discussion and upon notice and demand from Tetraphase, AcelRx shall immediately discontinue the use of any of the Tetraphase Trademarks upon notice from a Third Party that such use is or is alleged to be an infringement of such Third Party’s
trademark rights, unless AcelRx determines that it does not wish to discontinue use of any of the Tetraphase Trademarks, in which case all liability of Tetraphase, AcelRx and their respective Affiliates arising out of AcelRx’s use of any such
Tetraphase Trademark after such notice shall be borne by AcelRx. In the event of any such Third Party notice, request by Tetraphase to discontinue the use of an Tetraphase Trademark and subsequent discontinuance by AcelRx, Tetraphase shall select a
new Tetraphase Trademark to be used with such Tetraphase Product and shall promptly notify AcelRx in writing of such selection. 
 5.
OPERATING PROCEDURES 
 5.1 Exchange of Information. 

(a) Each Party shall use reasonable efforts to provide the other Party with such information as the other Party may reasonably require
and request during the Co-Promotion Period in order to support the promotion and sales effort for the Products. 

(b) During the Co-Promotion Period and subject to any other provision of this Agreement, each
Party will use reasonable efforts to provide the other with all information relevant to the detailing and promotion of the Products to the Target Audience in the Field within a reasonable time after such information becomes known to the Party,
provided such information is not received from an independent Third Party under a secrecy obligation. In addition, AcelRx shall use reasonable efforts to provide the Tetraphase Sales Force the same information at substantially the same time with
respect to AcelRx Products in the Field it as does the AcelRx 

  
 14. 

 
Sales Force dedicated to the Target Audience in the Field, and Tetraphase shall use reasonable efforts to provide the AcelRx Sales Force the same information at substantially the same time with
respect to Tetraphase Products in the Field as it does the Tetraphase Sales Force dedicated to the Target Audience in the Field. The Parties agree that the actual information to be provided by each Party under this Section 5.1(b) shall
ultimately be determined by the JMSC and that any additional costs borne by either Party in order to comply with this Section 5.1(b) shall be shared equally by the Parties. 

(c) The Parties’ obligations with respect to exchanging and reporting adverse events and other safety information relating to the
Products will be set forth in a pharmacovigilance agreement to be entered into between the Parties no later than fifteen (15) days after the Effective Date (the “Pharmacovigilance Agreement”). The Pharmacovigilance Agreement
shall provide for an adverse event database for the Products in the Territory to be maintained by the applicable Product Party at such Product Party’s expense. The Product Party shall be responsible for preparing and filing with regulatory
authorities in the Territory all adverse event reports and responses to safety issues and requests of regulatory authorities relating to its Products in the Territory, and for reporting quality complaints, adverse events and safety data related to
its Products to the other Party. Each Party hereby agrees to comply with its respective obligations under such Pharmacovigilance Agreement and to cause its controlled Affiliates to comply with such obligations. 

5.2 Voluntary Product Recalls. If either Party believes that a voluntary recall or market withdrawal of a Product is necessary, such
Party shall notify the other Party within forty-eight (48) hours of its determination and if the Product Party so determines both Parties shall cooperate to allow such recall or market withdrawal to occur under the direction of the Product
Party (as set forth in Section 3.9). In the event of a dispute about whether to recall a Product, the Product Party shall have the final authority with respect to such matters, which authority shall be exercised reasonably and in good faith and
subject to Section 3.9. 
 5.3 Regulatory Obligations. The Product Party shall be solely responsible for all activities in
connection with the Regulatory Approvals for its Products in the Territory, including without limitation communicating and preparing and filing all reports (including without limitation adverse drug experience reports) with the FDA. The non-Product Party agrees to cooperate with the Product Party as requested, at the Product Party’s expense, in preparing and filing all such reports. The Product Party shall pay all fees associated with
obtaining and maintaining the Regulatory Approvals including, without limitation, any establishment license fees of such Product Party or Third Parties which must be paid with respect to facilities used in the manufacture of its Products. 

6. TERM OF AGREEMENT AND TERMINATION 

6.1 Term. The term of this Agreement shall commence on the Effective Date and continue until the end of the Co-Promotion Period. 
 6.2 Change of Control. In the event a Party undergoes a Change of Control
(the “Change of Control Party”), the Change of Control Party will provide written notice thereof 

  
 15. 

 
promptly upon the consummation of such Change of Control to the other Party (the “Non-Change of Control Party”). Upon consummation of a
Change of Control, the Non-Change of Control Party shall have the right to terminate this Agreement effective upon one (1) month prior written notice to the Change of Control Party. 

6.3 Voluntary Termination. Either Party shall have the right to terminate this Agreement for any reason or no reason effective upon
fifteen (15) months prior written notice to the other Party. 
 6.4 Termination for Material Breach. Either Party shall have the
right to terminate this Agreement by written notice to the other Party in the event that the other shall commit any material breach of this Agreement and shall fail to remedy same within ninety (90) days after being called upon in writing to do
so (or immediately due to a breach by the Change of Control Party of its obligations under Section 2.3 or Section 3.4). 
 6.5
Termination for Bankruptcy. Either Party shall have the right to terminate this Agreement effective upon written notice to the other Party in the event the non-notifying Party becomes insolvent or makes an
assignment for the benefit of creditors, or in the event bankruptcy or insolvency proceedings are instituted against the non-notifying Party or on the non-notifying
Party’s behalf, provided that in the event such proceedings are instituted against the non-notifying Party by a Third Party, such termination right shall not become effective until such involuntary
proceedings have continued for a period of forty-five (45) days without having been dismissed. 
 6.6 Other Termination Rights.
Tetraphase shall have the right to terminate this Agreement, effective upon written notice to AcelRx in the event that (a) the manufacture, use or sale of the AcelRx Product infringes or is claimed to infringe the proprietary intellectual
property rights of a Third Party, (b) its activities hereunder with respect to the AcelRx Product are in violation of any Applicable Law, or (c) the AcelRx Product is unreasonably unsafe or dangerous. AcelRx shall have the right to
terminate this Agreement, effective upon written notice to Tetraphase in the event that (a) the manufacture, use or sale of the Tetraphase Product infringes or is claimed to infringe the proprietary intellectual property rights of a Third
Party, (b) its activities hereunder with respect to the Tetraphase Product are in violation of any Applicable Law, or (c) the Tetraphase Product is unreasonably unsafe or dangerous. 

6.7 Reversion of Rights Upon Termination or Expiration. Upon any termination or expiry of this Agreement pursuant to this
Article 6, for whatever reason, then, in any such case, (a) all of Tetraphase’s rights hereunder regarding AcelRx Products and the use of the AcelRx Trademarks and the AcelRx Promotional Materials for AcelRx Products shall
automatically terminate, effective as of such time, and Tetraphase shall have no further rights thereto; and (b) all of AcelRx’s rights hereunder regarding Tetraphase Products and the use of the Tetraphase Trademarks and the Tetraphase
Promotional Materials for Tetraphase Products shall automatically terminate, effective as of such time, and AcelRx shall have no further rights thereto. 

  
 16. 

 6.8 Effect of Termination. Termination of this Agreement in whole or in part shall
not relieve the Parties of any amounts owing between them or their obligations hereunder with respect to limiting disclosure and use of Confidential Information. Without limiting the foregoing, the provisions of Sections 3.7, 6.7, 6.9, 6.10
(but only to the extent such consummation of such Change of Control occurs prior to the effective date of termination of this Agreement), 7.5, 7.6, 8.1, and this Section 6.8 and Articles 1, 9, 10 and 11 of this Agreement shall survive the
expiration or termination of this Agreement. Upon termination or expiration hereof, Tetraphase shall promptly return to AcelRx all AcelRx Promotional Materials then in the possession of Tetraphase, its Affiliates and any of their respective sales
representatives, and, AcelRx shall promptly return to Tetraphase all Tetraphase Promotional Materials then in the possession of AcelRx, its Affiliates and any of their respective sales representatives. 

6.9 Damages; Relief. Termination of this Agreement shall not preclude either Party from claiming any other damages, compensation or
relief that it may be entitled to upon such termination. 
 6.10 Breach Following Change of Control. In the event that following a
Change of Control of a Party, the Non-Change of Control Party terminates this Agreement under Section 6.4 due to a breach by the Change of Control Party of its obligations under Section 2.3 or
Section 3.4, then following such termination, the Change of Control Party will pay to the Non-Change of Control Party a ten percent (10%) royalty on net sales (as determined in accordance with GAAP) of
the Change of Control Party’s Products in the Territory during the period commencing upon such termination and ending on the last day of the fifth full Calendar Quarter following the date of such termination. Such royalty shall be paid on a
quarterly basis within forty-five (45) days of the end of each Calendar Quarter during the royalty payment period. 
 6.11 Audit
Rights. Following a Change of Control of a Party, the Non-Change of Control Party will have the right twice annually at its own expense to have an independent, certified public accountant, selected by the Non-Change of Control Party and reasonably acceptable to the Change of Control Party, review any such records of the Change of Control Party in the location(s) where such records are maintained by the other Party
upon reasonable notice and during regular business hours and under obligations of confidence, for the sole purpose of verifying the compliance by the Change of Control Party with its obligations under Section 2.3, the Sales Force of the Change
of Control Party with its obligations under Section 3.4, and the payments made under Section 6.10, in each case within the prior twelve (12) month period. If the review of such records reveals that the Change of Control Party has
failed to comply with its obligations under Section 2.3, the Sales Force of the Change of Control Party has failed to comply with its obligations under Section 3.4, or that the Change of Control Party has failed to accurately report
information pursuant to Section 6.10, then the Change of Control Party shall promptly pay to the Non-Change of Control Party any resulting amounts due under Section 6.10. If he Change of Control
Party has failed to comply with its obligations under Section 2.3, the Sales Force of the Change of Control Party has failed to comply with Section 3.4, or the royalty payments due for a period are greater than one hundred five percent
(105%) of the amounts reported as due for a Calendar Quarter under Section 6.10, the Change of Control Party shall pay all of the costs of such review. 

  
 17. 

 7. REPRESENTATIONS AND WARRANTIES; COVENANT.

 7.1 Mutual Representations and Warranties. Each of the Parties hereby represents and warrants to the other Party as follows:

 (a) such Party (i) is a corporation duly organized, validly existing and in good standing under the laws of the state in which
it is incorporated, (ii) has the corporate power and authority and the legal right to own and operate its property and assets, to lease the property and assets it operates under lease, and to carry on its business as it is now being conducted,
and (iii) is in compliance with all requirements of Applicable Law, except to the extent that any noncompliance would not have a material adverse effect on the properties, business, financial or other condition of such Party and would not
materially adversely affect such Party’s ability to perform its obligations under this Agreement; 
 (b) this Agreement is a
legal and valid obligation binding upon such Party and enforceable in accordance with its terms, and the execution, delivery and performance of the Agreement by such Party does not conflict with any agreement, instrument or understanding, oral or
written, to which it is a Party or by which it is bound, nor violate any law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it. Each Party expressly represents and warrants that it has the
full power and authority to enter into this Agreement and to carry out the obligations contemplated hereby; and 
 (c) it has taken
all necessary corporate action on its part to authorize the execution and delivery of this Agreement. 
 7.2 AcelRx Representations and
Warranties. AcelRx represents and warrants to Tetraphase as follows: 
 (a) that to the best of its knowledge as of the Effective
Date, the manufacture, use, importation, offer for sale or sale of AcelRx Products to the Target Audience in the Field as contemplated hereunder does not infringe any Third Party intellectual property right in the Territory; and 

(b) that with respect to all regulatory filings to obtain Regulatory Approvals, the data and information in AcelRx’s submissions
are and shall be free from fraud or material falsity, that the Regulatory Approvals have not been and will not be obtained either through bribery or the payment of illegal gratuities, that the data and information in AcelRx’s submissions are
and shall be accurate and reliable for purposes of supporting approval of the submissions, and that the Regulatory Approvals shall have been obtained without illegal or unethical behavior of any kind. 

7.3 Tetraphase Representations and Warranties. Tetraphase represents and warrants to AcelRx as follows: 

(a) that to the best of its knowledge as of the Effective Date, the manufacture, use, importation, offer for sale or sale of Tetraphase
Products to the Target Audience in the Field as contemplated hereunder does not infringe any Third Party intellectual property right in the Territory; and 

  
 18. 

 (b) that with respect to all regulatory filings to obtain Regulatory Approvals, the
data and information in Tetraphase’s submissions are and shall be free from fraud or material falsity, that the Regulatory Approvals have not been and will not be obtained either through bribery or the payment of illegal gratuities, that the
data and information in Tetraphase’s submissions are and shall be accurate and reliable for purposes of supporting approval of the submissions, and that the Regulatory Approvals shall have been obtained without illegal or unethical behavior of
any kind. 
 7.4 Performance by Affiliates. The Parties recognize that each Party may perform some or all of its obligations under
this Agreement through Affiliates, provided, however, that each Party shall remain responsible for the performance by its Affiliates and shall cause its Affiliates to comply with the provisions of this Agreement in connection with such
performance. Each Party hereby expressly waives any requirement that the other Party exhaust any right, power or remedy, or proceed against an Affiliate, for any obligation or performance hereunder prior to proceeding directly against such Party.

 7.5 Disclaimer of Warranties. THE PARTIES EXPRESSLY DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION
WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THIRD PARTY RIGHTS, UNLESS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT. 

7.6 Non-Solicit. During the Co-Promotion Period and for
one year thereafter, neither Party will either, directly or indirectly, solicit or attempt to solicit any employee, independent contractor, or consultant of the other Party to terminate his, her or its relationship with the other Party in order to
become an employee, consultant, or independent contractor to or for such Party or any of its Affiliates. Notwithstanding the foregoing, from and after the time a Party undergoes a Change of Control, the
Non-Change of Control Party shall cease to have any obligation under this Section 7.6. 
 8.
OWNERSHIP OF INTELLECTUAL PROPERTY AND PATENT RIGHTS. 

8.1 Intellectual Property. As between the Parties, AcelRx shall solely own all right, title and interest in AcelRx Products, AcelRx
Patents, AcelRx Trademarks, AcelRx Product Labeling and Promotional Materials. As between the Parties, Tetraphase shall solely own all right, title and interest in Tetraphase Products, Tetraphase Patents, Tetraphase Trademarks, Tetraphase Product
Labeling and Promotional Materials. 
 8.2 Patent Prosecution. As between the Parties, AcelRx shall have the sole right, but not the
obligation, to file applications for, prosecute and maintain the AcelRx Patents. AcelRx shall not be obligated to disclose to Tetraphase any prosecution information relating to the AcelRx Patents. As between the Parties, Tetraphase shall have the
sole right, but not the obligation, to file applications for, prosecute and maintain the Tetraphase Patents. Tetraphase shall not be obligated to disclose to AcelRx any prosecution information relating to the Tetraphase Patents. 

  
 19. 

 8.3 Enforcement Rights. 

(a) Notification of Infringement. If Tetraphase learns of any misappropriation of any AcelRx Products, AcelRx Patents, AcelRx Trademarks
or Information (the “AcelRx Product Rights”), or any infringement or threatened infringement by a Third Party of the AcelRx Patents in the Territory, Tetraphase shall promptly notify AcelRx and shall provide AcelRx with all
available evidence of such misappropriation or infringement. If AcelRx learns of any misappropriation of any Tetraphase Products, Tetraphase Patents, Tetraphase Trademarks or Information (the “Tetraphase Product Rights”), or any
infringement or threatened infringement by a Third Party of the Tetraphase Patents in the Territory, AcelRx shall promptly notify Tetraphase and shall provide Tetraphase with all available evidence of such misappropriation or infringement. 

(b) Enforcement of Patents and Product Rights in the Territory. As between the Parties, AcelRx shall have the sole right, but not the
obligation, to institute, prosecute and control at its own expense any action or proceeding with respect to infringement of any AcelRx Patents or any misappropriation of the AcelRx Product Rights in the Territory, by counsel of its own choice.
Tetraphase shall cooperate with AcelRx, at AcelRx’s expense, in any such action or proceeding brought by AcelRx against a Third Party. Any amounts recovered by AcelRx pursuant to this subsection (b) shall belong exclusively to AcelRx. As
between the Parties, Tetraphase shall have the sole right, but not the obligation, to institute, prosecute and control at its own expense any action or proceeding with respect to infringement of any Tetraphase Patents or any misappropriation of the
Tetraphase Product Rights in the Territory, by counsel of its own choice. AcelRx shall cooperate with Tetraphase, at Tetraphase’s expense, in any such action or proceeding brought by Tetraphase against a Third Party. Any amounts recovered by
Tetraphase pursuant to this subsection (b) shall belong exclusively to Tetraphase. 
 9. INDEMNIFICATION; INSURANCE

 9.1 Indemnification by AcelRx. Except as set forth in Section 9.2 hereof, and except to the extent caused by
Tetraphase’s or its Affiliates’ grossly negligent, reckless or willful acts or omissions, AcelRx shall indemnify, defend and hold Tetraphase and its Affiliates and their directors, officers, employees and agents harmless from and against
any liabilities, damages, costs or expenses, including reasonable attorneys’ fees (collectively, “Liabilities”), which arise from any claim, lawsuit or other action by a Third Party (a) caused by the
manufacture, use or sale of AcelRx Products in the Territory during the Co-Promotion Period; (b) that are attributable to statements or representations by AcelRx, its employees, or its agents regarding
the AcelRx Product; (c) that arise from AcelRx’s breach of any of its representations, warranties or covenants under this Agreement; (d) that are attributable to statements or representations by Tetraphase, its employees, or its
agents regarding the AcelRx Product, that are consistent with, or in accordance with, the AcelRx Product Labeling or AcelRx Promotional Materials; (e) that, in the case of any trademark infringement claim, lawsuit or other action, result solely
from Tetraphase’s proper use of AcelRx Trademarks in accordance with the terms of this Agreement; or (f) claiming that the manufacture, use or sale of AcelRx Products infringes the patent, copyright or other intellectual property right of
such party. 

  
 20. 

 9.2 Indemnification by Tetraphase. Except as set forth in Section 9.1 hereof,
and except to the extent caused by AcelRx’s, or its Affiliates’ or Third Party sublicensees’ grossly negligent, reckless or willful acts or omissions, Tetraphase shall indemnify, defend and hold AcelRx and its directors, officers,
employees, agents and Affiliates harmless from and against any Liabilities, which arise from any claim, lawsuit or other action by a Third Party (a) caused by the manufacture, use or sale of Tetraphase Products in the Territory during the Co-Promotion Period; (b) that are attributable to statements or representations by Tetraphase, its employees, or its agents regarding the Tetraphase Product; (c) that arise from Tetraphase’s breach of
any of its representations, warranties or covenants under this Agreement; (d) that are attributable to statements or representations by AcelRx, its employees, or its agents regarding the Tetraphase Product, that are consistent with, or in
accordance with, the Tetraphase Product Labeling or Tetraphase Promotional Materials; (e) that, in the case of any trademark infringement claim, lawsuit or other action, result solely from AcelRx’s proper use of Tetraphase Trademarks in
accordance with the terms of this Agreement; or (f) claiming that the manufacture, use or sale of Tetraphase Products infringes the patent, copyright or other intellectual property right of such party 

9.3 Insurance. Each Party, at its own expense, shall maintain comprehensive general/product liability insurance with a minimum limit of
liability per claim of US$10,000,000 and shall provide the other Party, at its request, with a certificate of such insurance naming the other Party as an additional insured. Each Party’s insurance policy shall require at least thirty
(30) days’ notice to the other Party prior to cancellation or material change in the policy. Such notices of cancellation or material change shall be given in accordance with Section 11.7 hereof.  

9.4 LIMITATION OF DAMAGES. IN NO EVENT SHALL EITHER PARTY BE LIABLE HEREUNDER TO THE OTHER PARTY FOR ANY PUNITIVE, INDIRECT, SPECIAL,
INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING LOST REVENUE, LOST PROFITS, OR LOST SAVINGS) HOWEVER CAUSED AND UNDER ANY THEORY, EVEN IF IT HAS NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. THE LIMITATIONS SET FORTH IN THIS SECTION 9.4 SHALL NOT
APPLY WITH RESPECT TO (A) ANY BREACH OF ARTICLE 10 OR (B) THE INTENTIONAL MISCONDUCT OR GROSS NEGLIGENCE OF A PARTY. NOTHING IN THIS SECTION 9.4 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF A PARTY UNDER
THIS ARTICLE 9 WITH RESPECT TO ANY DAMAGES PAID BY THE OTHER PARTY TO A THIRD PARTY IN CONNECTION WITH A THIRD PARTY CLAIM. 
 10.
CONFIDENTIALITY 
 10.1 Confidential Information. The Parties hereto recognize that technical, scientific and other
data and information relating to Products, as well as information relating to a Party’s technology, know-how, processes, patent applications, trade secrets, inventions, ideas, formula or test data
relating to any research project, work in process, future development, engineering, 

  
 21. 

 
manufacturing, regulatory, marketing, servicing, financing or personnel matters, present or future products, sales, suppliers, clients, customers, employees, investors or business, whether in
oral, written, graphic or electronic form (hereinafter referred to collectively as “Information”), disclosed by one Party or its Affiliates to the other or its Affiliates hereunder, is of considerable value to the
disclosing Party and is to be considered highly confidential. For the purposes hereof, “Confidential Information” shall hereinafter collectively mean that Information received by a receiving Party from a disclosing
Party. The Parties agree that the terms of this Agreement will be considered Confidential Information of both Parties and the Marketing Plan relating to each Party’s Product will be considered the Confidential Information of the applicable
Party. References to the receiving Party in this Article 10 refer to Tetraphase and its Affiliates, if any, on the one hand, and AcelRx and its Affiliates, on the other hand, as the case may be. 

Tetraphase and AcelRx will, through the JMSC, mutually agree on the Information which is to be presented to the Target Audience relating to
the detailing of Products. This Information is not considered to be Confidential Information. Each Party will limit the dissemination of Confidential Information throughout its organization to those with a need to know. 

The amount of a Party’s Confidential Information to be disclosed to the other Party hereunder shall be completely within the discretion
of the disclosing Party. To the extent practical, Confidential Information shall be disclosed in tangible form and marked as “Confidential.” Information disclosed in an intangible form, such as orally or by visual inspection, shall not be
considered Confidential Information unless the disclosing Party confirms in writing the fact and general nature of the disclosure within one (1) month after it is made. 

Notwithstanding anything in this Agreement to the contrary, neither Party shall at any time provide the other Party with any technical
information or data, including but not limited to, technical information relating to its Products, including but not limited to, information and data relating to formulation, and analytical methods, unless such technical information is already in
the public domain. 
 10.2 Obligation to Maintain Confidentiality of Information. Each Party hereby covenants not to use Confidential
Information of the other Party received by it or its Affiliates, or any part thereof, except in accordance with this Agreement. In addition, each receiving Party shall keep all Confidential Information of the other Party received by it or its
Affiliates in complete confidence and shall not disclose or make such Confidential Information, or any part thereof, available to Third Parties except: 

(a) In the case of the Product Party, for the purpose of obtaining and maintaining any necessary Regulatory Approvals for the sale of
its Products under this Agreement in the Territory; 
 (b) To the extent that the disclosing Party may agree in writing, such
agreement shall be obtained prior to such disclosure by receiving Party; 

  
 22. 

 (c) To the extent that such Confidential Information can be demonstrated by written
records to be known to the receiving Party or its Affiliates at the time or receipt thereof from the disclosing Party; 
 (d) To the
extent that such Confidential Information is or may become a matter of public knowledge by virtue of the action of a party other than the receiving Party or its Affiliates; or 

(e) To the extent such Information is independently developed by the receiving Party or its Affiliates without reference to or reliance
upon the disclosing Party’s Confidential Information. 
 10.3 Information Disclosed Prior to Effective Date. All Information
disclosed prior to the Effective Date shall be subject to the confidentiality and non-use provisions set forth in that certain Confidentiality Agreement dated July 29, 2019 between the Parties, as amended
on January 23, 2020. 
 10.4 Survival of Obligation. Obligations under this Article 10 shall be in force during the term of
this Agreement and any extension thereof and shall survive expiration or termination (as the case may be) of this Agreement for a period of five (5) years. 

11. GENERAL PROVISIONS 

11.1 Integration/Modification. This Agreement by and between the Parties hereto, is both a final expression of the Parties’
agreement and a complete and exclusive statement with respect to all of its terms. The Schedules referred to in this Agreement are incorporated herein and made a part of this Agreement by this reference. This Agreement supersedes all prior and
contemporaneous agreements and communications, whether oral, written or otherwise, concerning any and all matters contained herein. No rights or licenses with respect to AcelRx Products, AcelRx Patents, AcelRx Trademarks, AcelRx Product Labeling or
AcelRx Promotional Materials, Tetraphase Products, Tetraphase Patents, Tetraphase Trademarks, Tetraphase Product Labeling or Tetraphase Promotional Materials are granted or deemed granted hereunder or in connection herewith, other than those rights
expressly granted in this Agreement. No trade customs, courses of dealing or courses of performance by the Parties shall be relevant to modify, supplement or explain any term(s) used in this Agreement. This Agreement may only be modified or
supplemented in a writing expressly stated for such purpose and signed by the Parties to this Agreement. 
 11.2 Relationship Between the
Parties. The Parties have no ownership interest in the other and their relationship, as established by this Agreement, is solely that of independent contractors. This Agreement does not create any partnership, joint venture or similar business
relationship between the Parties. Neither Party is a legal representative of the other Party, and neither Party can assume or create any obligation, representation, warranty or guarantee, express or implied, on behalf of the other Party for any
purpose whatsoever. 

  
 23. 

 11.3 Non-Waiver. The failure of a Party to
insist upon strict performance of any provision of this Agreement or to exercise any right arising out of this Agreement shall neither impair that provision or right nor constitute a waiver of that provision or right, in whole or in part, in that
instance or in any other instance. 
 11.4 Assignment. This Agreement is binding upon and inures to the benefit of the Parties to it,
and to their permitted successors and assigns. No Party may assign or delegate any or all of its rights or obligations under this Agreement without the prior written consent of the other Party to this Agreement except to an Affiliate. If a Party
assigns this Agreement to an Affiliate, such Party will also promptly inform the other Party and guarantee the performance by its Affiliate of all of such Party’s obligations under the Agreement. Notwithstanding the foregoing to the contrary,
either Party may, with notice, but without consent and at its sole discretion, assign any or all of its rights and obligations under this Agreement to a Third Party in connection with the sale, transfer or other disposition of the part of its
business to which this Agreement relates or other Change of Control of such Party. Any such permitted assignment shall only be effective upon the written agreement of the Affiliate or Third Party to be bound by the terms of this Agreement, including
Section 6.10. 
 11.5 No Third Party Beneficiaries. This Agreement is neither expressly nor impliedly made for the benefit of any
Party other than those executing it. 
 11.6 Severability. If, for any reason, any part of this Agreement is adjudicated invalid,
unenforceable or illegal by a court of competent jurisdiction, such adjudication shall not affect or impair, in whole or in part, the validity, enforceability or legality of any remaining portions of this Agreement. All remaining portions shall
remain in full force and effect as if the original Agreement had been executed without the invalidated, unenforceable or illegal part. 

11.7 Notices. Any notice to be given under this Agreement must be in writing and delivered either in person, by any method of mail
(postage prepaid) requiring return receipt, by overnight courier or by facsimile or email confirmed thereafter by any of the foregoing, to the Party to be notified at its address(es) given below, or at any address such Party has previously
designated by prior written notice to the other. Notice shall be deemed sufficiently given for all purposes upon the earlier of: (a) the date of actual receipt (or, in the case of facsimile or email, the date confirmation of receipt is sent);
(b) if mailed, three calendar days after the date of postmark; or (c) if delivered by overnight courier, the next business day the overnight courier regularly makes deliveries. 

  
 24. 

 If to Tetraphase, notices must be addressed to: 

Tetraphase Pharmaceuticals, Inc. 

480 Arsenal Way, Suite 100 

Watertown, Massachusetts 02472 

Attention: President 
 Telephone: 617-600-7486 
 With a copy to: 

Tetraphase Pharmaceuticals, Inc. 

480 Arsenal Way, Suite 100 

Watertown, Massachusetts 02472 

Attention: General Counsel 

Telephone: 617-231-7160 

If to AcelRx, notices must be addressed to: 

AcelRx Pharmaceuticals, Inc. 
 351
Galveston Drive 
 Redwood City, California 94063 

Attention: Chief Financial Officer 

Telephone: (650) 216-3500 

With a copy to: 
 AcelRx
Pharmaceuticals, Inc. 
 351 Galveston Drive 

Redwood City, California 94063 

Attention: Legal Department 

Telephone: (650) 216-3500 

Email: contracts@acelrx.com 

11.8 Force Majeure. Except for the obligation to make payment when due, each Party shall be excused from liability for the failure or
delay in performance of any obligation under this Agreement by reason of any event beyond such Party’s reasonable control including but not limited to Acts of God, fire, flood, explosion, earthquake, or other natural forces, war, civil unrest,
accident, destruction or other casualty, any lack or failure of transportation facilities, any lack or failure of supply of raw materials, any strike or labor disturbance, or any other event similar to those enumerated above. Such excuse from
liability shall be effective only to the extent and duration of the event(s) causing the failure or delay in performance and provided that the Party has not caused such event(s) to occur. Notice of a Party’s failure or delay in performance due
to force majeure must be given to the other Party within ten (10) calendar days after its occurrence. All delivery dates under this Agreement that have been affected by force majeure shall be tolled for the duration of such force majeure. In no
event shall any Party be required to prevent or settle any labor disturbance or dispute. Notwithstanding the foregoing, should the event(s) of force majeure suffered by a Party extend beyond a three (3) month period, the other Party may then
terminate this Agreement by written notice to the non-performing Party, with the consequences of such termination as set forth in Sections 6.7, 6.8, and 6.9. 

  
 25. 

 11.9 Governing Law. Notwithstanding its place of execution or performance, this
Agreement shall be governed by and construed in accordance with the laws of the State of New York, irrespective of its laws regarding choice or conflict of laws. 

11.10 Interpretation 

(a) Captions & Headings. The captions and headings of clauses contained in this Agreement preceding the text of
the articles, sections, subsections and paragraphs hereof are inserted solely for convenience and ease of reference only and shall not constitute any part of this Agreement, or have any effect on its interpretation or construction. 

(b) Singular & Plural. All references in this Agreement to the singular shall include the plural where
applicable, and all references to gender shall include both genders and the neuter. 
 (c) Articles, Sections &
Subsections. Unless otherwise specified, references in this Agreement to any article shall include all sections, subsections, and paragraphs in such article; references in this Agreement to any section shall include all subsections and
paragraphs in such sections; and references in this Agreement to any subsection shall include all paragraphs in such subsection. 
 (d)
Days. All references to days in this Agreement shall mean calendar days, unless otherwise specified. 
 (e) Ambiguities.
Ambiguities and uncertainties in this Agreement, if any, shall not be interpreted against either Party, irrespective of which Party may be deemed to have caused the ambiguity or uncertainty to exist. 

11.11 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original document, and
all of which, together with this writing, shall be deemed one instrument. 
 11.12 Further Assurances. Each Party to this Agreement
shall, at its own expense, furnish, execute, and deliver all documents and take all actions as may reasonably be required to effect the terms and purposes of this Agreement. 

11.13 Public Disclosure. Except to the extent such disclosures are already in the public domain or are necessary, in the reasonable
judgment of a Party, to comply with Applicable Law, no announcement, news release, public statement, publication, or presentation announcing for the first time the existence of this Agreement will be made without the other Party’s prior written
approval, which approval shall not be unreasonably withheld (provided that each Party agrees to give the other Party reasonable advance notice of any such announcement, news release, public statement, publication, or presentation). Except to the
extent such disclosures are already in the public domain or are necessary, in the reasonable judgment of a Party, to comply with 

  
 26. 

 
Applicable Law, no announcement, news release, public statement, publication, or presentation relating to the terms of this Agreement will be made without the other Party’s prior written
approval, which approval shall not be unreasonably withheld. The Parties agree that they will use reasonable efforts to coordinate the initial announcement or press release relating to the existence of this Agreement, so that such initial
announcement or press release by each is made contemporaneously. In all disclosures described in this paragraph, the disclosing Party shall provide advance notice of such disclosure, and a copy of such disclosure, as soon as possible, and the other
Party shall have the right to review and comment on such disclosure. 
 [Remainder of page intentionally left blank.] 

  
 27. 

 IN WITNESS WHEREOF, the
Parties, intending to be bound hereby, have executed this Agreement as of the date first written above. 
  

									
	ACELRX PHARMACEUTICALS, INC.	 		 	TETRAPHASE PHARMACEUTICALS, INC. 
					
	By:	 	 /s/ Vincent J. Angotti
	 	        	 	By:	 	 /s/ Larry Edwards

					
	Name:	 	Vincent J. Angotti	 		 	Name:	 	Larry Edwards
					
	Title:	 	Chief Executive Officer	 		 	Title:	 	President and Chief Executive Officer

  
 28.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]