Document:

EX-10.2

 Exhibit 10.2 

FORBEARANCE AND SECOND AMENDMENT 

TO 
 LOAN AND SECURITY
AGREEMENT 
 This FORBEARANCE AND SECOND AMENDMENT to Loan and Security Agreement (this “Agreement”) is entered into as
of November 25, 2013, by and between SILICON VALLEY BANK (“Bank”) and AXESSTEL, INC., a Nevada corporation (“Borrower”). 

RECITALS 

A. Bank and Borrower have entered into that certain Loan and Security Agreement dated as of September 25, 2012, as amended by that
certain First Amendment to Loan and Security Agreement by and between Bank and Borrower dated as of March 27, 2013 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). Bank
has extended credit to Borrower for the purposes permitted in the Loan Agreement. 
 B. Borrower acknowledges that Borrower is
currently in default of the Loan Agreement for failing to comply with certain provisions of the Loan Agreement as set forth on Schedule A hereto as of the time periods identified on said Schedule A and such failure to comply constitutes Events of
Default (each of the defaults set forth, collectively, the “Existing Defaults”). 
 C. Borrower has requested that Bank
forbear from exercising its rights and remedies against Borrower during the Forbearance Period (as defined in Section 2.1 below). Although Bank is under no obligation to do so, Bank is willing to forbear from exercising its rights and remedies
against Borrower through the Forbearance Period on the terms and conditions set forth in this Agreement, so long as Borrower complies with the terms, covenants and conditions set forth in this Agreement. 

D. Borrower has further requested that Bank amend the Loan Agreement to make certain other revisions to the Loan Agreement as more
fully set forth herein. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1.
Definitions. Capitalized terms used but not defined in this Agreement shall have the meanings given to them in the Loan Agreement. 

 2. Forbearance.  

2.1 Forbearance Period. Subject to all the terms and conditions set forth herein, Bank shall forbear from filing any legal action or
instituting or enforcing any rights and remedies it may have against Borrower from the Forbearance Effective Date (as defined in Section 10) until the date (the “Forbearance Termination Date”) which is the earliest to occur of
(a) December 20, 2013, (b) the failure after the date hereof of Borrower to comply with any of the terms or undertakings of this Agreement, (c) the occurrence after the date hereof of any Event of Default (other than the Existing
Defaults), or (d) the date that Borrower joins in, assists, cooperates, or participates as an adverse party or adverse witness in any suit or other proceeding against Bank relating to the Obligations in connection with or related to any of the
transactions contemplated by any of the other Loan Documents. Except as expressly provided herein, this Agreement does not constitute a waiver or release by Bank of any Obligations or of any existing Event of Default other than the Existing Defaults
or Event of Default which may arise in the future after the date of execution of this Agreement. If Borrower does not comply with the terms of this Agreement, Bank shall have no further obligations under this Agreement and shall be permitted to
exercise at such time any rights and remedies against Borrower as it deems appropriate in its sole and absolute discretion. Borrower understands that Bank has made no commitment and is under no obligation whatsoever to grant any additional
extensions of time at the end of the Forbearance Period. The time period between the Forbearance Effective Date and the Forbearance Termination Date is referred to herein as the “Forbearance Period.” 

3. Amendments to Loan Agreement/Consent. 

3.1 Borrower hereby agrees to pay to Bank a forbearance fee equal to Thirty Five Thousand Dollars ($35,000) on the earlier of
(i) the Term Loan Maturity Date or (ii) the date the Term Loan is repaid in full, whether by prepayment or acceleration and Borrower hereby agrees such fee is fully earned as of the date hereof. 

3.2 Bank hereby consents to Borrower selling to Accessel Investors LLC up to One Million Dollars ($1,000,000) of the account receivable
owed by Netett Svierge AB (“Net1”), to Borrower and represented by Borrower’s invoice number 2281, which is due and payable on or prior to June 30, 2014 provided that (i) such sale must occur no later than November 29,
2013 and (ii) Borrower must use a portion of such sale proceeds to make the Term Loan Payments past due for November 2013 and due in December 2013. Borrower agrees that the failure to comply with the foregoing requirements shall be an immediate
Event of Default under the Loan Agreement and upon the occurrence thereof the Forbearance Period shall immediately terminated. 
 3.3
Borrower hereby agree that Bank reserves the right to cause all amounts outstanding under the Term Loan to accrue interest at the Default Rate pursuant to the terms of Section 2.1.2(e) of the Loan Agreement. 

4. Limitation of Forbearance. 

4.1 This Agreement is effective for the purposes set forth herein and 

 
shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or
(b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document. 

4.2 This Agreement shall be construed in connection with and as part of the Loan Documents, and all terms, conditions, representations,
warranties, covenants and agreements set forth in the Loan Documents are hereby ratified and confirmed and shall remain in full force and effect. 

5. Representations and Warranties. Borrower represents and warrants to Bank as follows: 

5.1(a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects
as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default other than the Existing Defaults has occurred and
is continuing; 
 5.2 Borrower has the power and authority to execute and deliver this Agreement and to perform its obligations under
the Loan Agreement; 
 5.3 The organizational documents of Borrower delivered to Bank on the Effective Date or thereafter remain
true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

5.4 The execution and delivery by Borrower of this Agreement and the performance by Borrower of its obligations under the Loan
Agreement have been duly authorized by all necessary action on the part of Borrower; 
 5.5 The execution and delivery by Borrower of
this Agreement and the performance by Borrower of its obligations under the Loan Agreement do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on
Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

5.6 The execution and delivery by Borrower of this Agreement and the performance by Borrower of its obligations under the Loan
Agreement do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on either
Borrower, except as already has been obtained or made; and 
 5.7 This Agreement has been duly executed and delivered by Borrower and
is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, 

 
insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 

6. Prior Agreement. The Loan Documents are hereby ratified and reaffirmed and shall remain in full force and effect. This
Agreement is not a novation and the terms and conditions of this Agreement shall be in addition to and supplemental to all terms and conditions set forth in the Loan Documents. In the event of any conflict or inconsistency between this Agreement and
the terms of such documents, the terms of this Agreement shall be controlling, but such document shall not otherwise be affected or the rights therein impaired. As of the date hereof, the aggregate outstanding principal amount owing to Bank is Two
Million One Hundred Eighty Thousand Two Hundred Seventeen and 66/100 Dollars ($2,180,217.66). 
 7. Release by Borrower. 

7.1 FOR GOOD AND VALUABLE CONSIDERATION, Borrower hereby forever relieves, releases, and discharges Bank and its present or former
employees, officers, directors, agents, representatives, attorneys, and each of them, from any and all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs and expenses, actions and causes of action, of every type,
kind, nature, description or character whatsoever, whether known or unknown, suspected or unsuspected, absolute or contingent, arising out of or in any manner whatsoever connected with or related to facts, circumstances, issues, controversies or
claims existing or arising from the beginning of time through and including the date of execution of this Agreement (collectively “Released Claims”). Without limiting the foregoing, the Released Claims shall include any and all liabilities
or claims arising out of or in any manner whatsoever connected with or related to the Loan Documents, the Recitals hereto, any instruments, agreements or documents executed in connection with any of the foregoing or the origination, negotiation,
administration, servicing and/or enforcement of any of the foregoing. 
 7.2 In furtherance of this release, Borrower expressly
acknowledges and waives any and all rights under Section 1542 of the California Civil Code, which provides as follows: 
 “A
general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the
debtor.” (Emphasis added.) 
 7.3 By entering into this release, Borrower recognizes that no facts or representations are ever
absolutely certain and it may hereafter discover facts in addition to or different from those which it presently knows or believes to be true, but that it is the intention of Borrower hereby to fully, finally and forever settle and release all
matters, disputes and differences, known or unknown, suspected or unsuspected; accordingly, if Borrower should subsequently discover that any fact that it relied upon in entering into this release was untrue, or that any understanding of the facts
was incorrect, Borrower 

 
shall not be entitled to set aside this release by reason thereof, regardless of any claim of mistake of fact or law or any other circumstances whatsoever. Borrower acknowledges that it is not
relying upon and has not relied upon any representation or statement made by Bank with respect to the facts underlying this release or with regard to any of such party’s rights or asserted rights. 

7.4 This release may be pleaded as a full and complete defense and/or as a cross-complaint or counterclaim against any action, suit, or
other proceeding that may be instituted, prosecuted or attempted in breach of this release. Borrower acknowledges that the release contained herein constitutes a material inducement to Bank to enter into this Agreement, and that Bank would not have
done so but for Bank’s expectation that such release is valid and enforceable in all events. 
 7.5 Borrower hereby represents
and warrants to Bank, and Bank is relying thereon, as follows: 
 (a) Except as expressly stated in this Agreement, neither Bank nor
any agent, employee or representative of Bank has made any statement or representation to Borrower regarding any fact relied upon by Borrower in entering into this Agreement. 

(b) Borrower has made such investigation of the facts pertaining to this Agreement and all of the matters appertaining thereto, as it
deems necessary. 
 (c) The terms of this Agreement are contractual and not a mere recital. 

(d) This Agreement has been carefully read by Borrower, the contents hereof are known and understood by Borrower, and this Agreement
is signed freely, and without duress, by Borrower. 
 (e) Borrower represents and warrants that it is the sole and lawful owner of
all right, title and interest in and to every claim and every other matter which it releases herein, and that it has not heretofore assigned or transferred, or purported to assign or transfer, to any person, firm or entity any claims or other
matters herein released. Borrower shall indemnify Bank, defend and hold it harmless from and against all claims based upon or arising in connection with prior assignments or purported assignments or transfers of any claims or matters released
herein. 
 8. Integration. This Agreement and the Loan Documents represent the entire agreement about this subject matter and
supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the
Loan Documents. 

 9. Counterparts. This Agreement may be executed in any number of counterparts and all of
such counterparts taken together shall be deemed to constitute one and the same instrument. 
 10. Conditions to Effectiveness. The
parties agree that the forbearance obligations of Bank herein shall be effective upon the satisfaction of each of the following conditions precedent, each in form and substance satisfactory to Bank, (the date of the satisfaction of such conditions
precedent referred to herein as the “Forbearance Effective Date”): (a) the due execution and delivery to Bank of this Agreement by each party hereto and (b) the due execution and delivery to Bank of updated corporate borrowing
resolutions. 
 11. Miscellaneous. 

11.1 This Agreement shall constitute a Loan Document under the Loan Agreement; the failure to comply with the covenants contained
herein shall constitute an Event of Default under the Loan Agreement; and all obligations included in this Agreement (including, without limitation, all obligations for the payment of principal, interest, fees, and other amounts and expenses) shall
constitute obligations under the Loan Agreement and secured by the Collateral. 
 11.2 Each provision of this Agreement is severable
from every other provision in determining the enforceability of any provision. 
 12. Governing Law. This Agreement and the rights
and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of California. 

[Signature page follows.] 

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

									
	BANK	  		  	BORROWER
			
	SILICON VALLEY BANK	  		  	AXESSTEL, INC.
					
	By:	  	/s/ Lynn Homes	  		  	By:	  	/s/ Patrick Gray
	Name:	  	 Lynn Holmes
	  		  	Name:	  	 Patrick Gray

	Title:	  	 Vice President
	  		  	Title:	  	 Chief Executive Offier

 Schedule A 

EXISTING DEFAULTS 
  

			
	 Default
	  	 Period

	The aggregate amount of Advances exceeded the limit set forth in Section 2.1.1(b) of the Loan Agreement.	  	July 2013
		
	Failure to maintain the 1.25 to 1.00 Fixed Charge Coverage Ratio set forth in Section 6.7(a) of the Loan Agreement.	  	June, July, August, September and October 2013 reporting periods
		
	Failure to maintain the required Liquidity Ratio set forth in Section 6.7(b) of the Loan Agreement.	  	June, July, August, September and October 2013 reporting periods
		
	Failure to timely deliver the monthly financial statements, compliance certificate and A/R and A/P aging reports as required by Section 6.2 of the Loan Agreement.	  	July and September 2013 reporting periods
		
	Failure to make the required Term Loan Payment	  	November 2013

 BORROWING RESOLUTIONS 

 

							
		 	

	 		 	
		 	 	Silicon Valley Bank	 	
		 	 		 	

 CORPORATE BORROWING CERTIFICATE 
  

			
	BORROWER: AXESSTEL, INC.	 	DATE: November     , 2013
	BANK: Silicon Valley Bank	 	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of 

Nevada. 
 3. Attached hereto are true, correct and complete
copies of Borrower’s Articles/Certificate of Incorporation (including amendments), as filed with the Secretary of State of the state in which Borrower is incorporated as set forth in paragraph 1 above. Such Articles/Certificate of Incorporation
have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect as of the date hereof. 
 4. The following
resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect
as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank may rely on them until Bank receives written notice of revocation from Borrower. 

RESOLVED, that any one of the following officers or employees of Borrower, 

whose names, titles and signatures are below, may act on behalf of Borrower: 

 

							
	 Name
	 	 Title
	 	 Signature
	 	 Authorized to

Add or Remove
Signatories

				
	  
	 	  
	 	  
	 	 ̈
				
	  
	 	  
	 	  
	 	 ̈
				
	  
	 	  
	 	  
	 	 ̈
				
	  
	 	  
	 	  
	 	 ̈

 RESOLVED FURTHER, that any one of the persons designated above
with a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower. 

RESOLVED FURTHER, that such individuals may, on behalf of Borrower: 

Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). 

Execute Loan Documents. Execute any loan documents Bank requires. 

Grant Security. Grant Bank a security interest in any of Borrower’s assets. 

 Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or
other indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds. 
 Letters of Credit. Apply for
letters of credit from Bank. 
 Foreign Exchange Contracts. Execute spot or forward foreign exchange contracts. 

Further Acts. Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including
documents or agreement that waive Borrowers right to a jury trial) they believe to be necessary to effectuate such resolutions. 

RESOLVED FURTHER, that all acts authorized by the above resolutions and any prior acts
relating thereto are ratified. 
 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their
names. 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 *** If the Secretary, Assistant Secretary or other certifying officer executing above is
designated by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

I, the
                                         
           of Borrower, hereby certify as to paragraphs 1 through 5 above, as 

                        
        [print title] 
 of the date set forth above. 

 

			
	 By:
	 	  

	 Name:
	 	  

	 Title:EX-10.1

 Exhibit 10.1 

TRANSITION AGREEMENT 

This TRANSITION AGREEMENT (the “Agreement”) is made by and between Louise A. Mawhinney (the
“Executive”) and Aratana Therapeutics, Inc. (the “Company”) (collectively, referred to as the “Parties” or individually referred to as a “Party”).
Capitalized terms used but not defined in this Agreement shall have the meanings set forth in the Employment Agreement (as defined below). 

RECITALS 

WHEREAS, the Parties have previously entered into (i) that certain Employment Agreement, dated as of
September 17, 2012, as amended by Amendment No. 1 to Employment Agreement, dated April 26, 2013 (collectively, the “Employment Agreement”), (ii) that certain Non-Disclosure and Assignment Agreement, dated
as of September 27, 2012 (the “Non-Disclosure Agreement”), (iii) that certain Restricted Stock Award Agreement, dated as of September 25, 2012 (the “Restricted Stock Agreement”), which
governs the terms of certain shares of the Company’s common stock (the “Restricted Shares”) issued to the Executive subject to the terms and conditions of the Restricted Stock Agreement and the Company’s 2010 Equity
Incentive Plan (the “2010 Plan”), (iv) that certain Stock Option Agreement, dated as of September 25, 2012 (the “First Option Agreement”), which governs the terms of an option (the
“First Option”) to purchase shares of the Company’s common stock granted to the Executive on September 25, 2012, subject to the terms and conditions of the First Stock Option Agreement and the 2010 Plan, and
(v) that certain Stock Option Agreement, dated as of June 26, 2013 (the “Second Option Agreement” and together with the First Stock Option Agreement, the “Option Agreements”), which governs
the terms of an option (the “Second Option” and, together with the First Option, the “Options”) to purchase shares of the Company’s common stock granted to the Executive on June 26, 2013,
subject to the terms and conditions of the Second Stock Option Agreement and the Company’s 2013 Incentive Award Plan (the “2013 Plan”);  

WHEREAS, the Parties desire to enter into this Agreement as of the Effective Date (as defined in Section 7(c) below); and

 WHEREAS, the Parties intend for the Employment Agreement to continue to govern the terms of the Executive’s employment
with the Company except as otherwise expressly set forth in this Agreement.  
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and in exchange for the good and valuable consideration set forth herein,
the adequacy of which is specifically acknowledged, the Parties hereby agree as follows: 
 1. Termination of Employment; Service through
Termination Date. Effective November 8, 2013 (the “Transition Date”), the Executive ceased to serve as Chief Financial Officer of the Company and no longer serves in any officer or other position with the Company or
its subsidiaries, except as set forth in this Agreement. During the period (the “Transition Period”) commencing on the Transition Date and ending on the earlier to occur of (a) February 28, 2014 (the
“Resignation Date”) or (b) the effective date of the Executive’s termination of 

 
employment with Company in accordance with Section 4.1 (Termination by the Company), Section 4.2 (Termination by the Executive) or Section 4.3 (Termination for
Death or Complete Disability) of the Employment Agreement, in each case as modified hereby, or Section 4.4 (Termination by Mutual Agreement of the Parties) of the Employment Agreement (the actual date of the Executive’s
termination of employment, the “Termination Date”), the Executive shall remain a full-time employee of the Company. During the Transition Period, the Executive shall devote substantially all of the Executive’s business
time and effort to the performance of the Executive’s duties hereunder, shall report to and take directions from the Company’s Chief Financial Officer and shall use the Executive’s reasonable best efforts to assist with the transition
of the duties and responsibilities of the Chief Financial Officer of the Company to the Executive’s successor to the position of Chief Financial Officer of the Company. In addition, during the Transition Period Executive shall perform such
other duties as are reasonably requested by the Company’s Chief Executive Officer or Chief Financial Officer. Notwithstanding the foregoing, during the Transition Period, Executive shall be deemed to be and qualify as an “executive
officer” for purposes of the rights and remedies relating to the indemnification of executive officers of the Company pursuant to Article XI of the Company’s bylaws. Effective as of the Termination Date, Executive shall cease to hold any
position (whether as an officer, director, manager, employee, trustee, fiduciary, or otherwise) with, and shall cease to exercise or convey any authority (actual, apparent, or otherwise) on behalf of, the Company and its subsidiaries. 

2. Compensation during the Transition Period. From and after the Effective Date, the Executive shall not be entitled to receive
compensation or benefits under the Employment Agreement except as expressly provided in this Agreement. During the Transition Period, the Company shall continue to pay the Executive the Base Salary as in effect on the Transition Date, and the
compensation and benefits to which the Executive is entitled under Section 3.4 (Expense Reimbursement) and Section 3.6 (Benefits; Vacation) of the Employment Agreement. For the avoidance of doubt, the Executive shall not be
entitled to any compensation or benefits under Section 4.5 of the Employment Agreement upon a termination of employment with the Company and, except as provided under Section 5(c)(ii), shall not be eligible to receive a Bonus. 

3. Treatment of Equity Awards. The Company agrees that the Executive’s service during the Transition Period shall
(i) constitute the Executive’s Continuous Service (as defined in the 2010 Plan) for purposes of the Restricted Shares, the First Option, the Restricted Stock Agreement and the First Option Agreement and (ii) not constitute a
Termination of Service (as defined in the 2013 Plan) for purposes of the Second Option and the Second Option Agreement. Except as otherwise expressly set forth in this Section 3 and Sections 5(c)(iv) and 5(c)(v), (a) the terms of the
Restricted Stock Agreement shall continue to govern the Restricted Shares, (b) the terms of the First Option Agreement shall continue to govern the First Option and (c) the terms of the Second Option Agreement shall continue to govern the
Second Option. The Executive acknowledges that the Options (y) to the extent unvested on the Termination Date will immediately expire on the Termination Date and (z) to the extent vested on the Termination Date, will expire if not
exercised within three months following the Termination Date. 

  
 2 

 4. Certain Definitions. For purposes of this Agreement: 

(a) “Cause” for the Company to terminate the Executive’s employment shall mean “Cause” as defined in
the Employment Agreement, provided that Cause shall also include the Executive’s willful and material breach of the Executive’s duties under this Agreement that is not cured within thirty (30) days after the Executive’s receipt
of written notice from the Board of such breach; and 
 (b) “Good Reason” for the Executive to terminate the
Executive’s employment shall mean any action or inaction that constitutes a material breach by the Company or any successor or Affiliates of its obligations to the Executive under this Agreement, provided that a termination by the Executive
shall only be deemed for Good Reason if: (i) the Executive gives the Company written notice of the intent to terminate for Good Reason within thirty (30) days following the first occurrence of the condition(s) that the Executive believes
constitutes Good Reason, which notice shall describe such condition(s), (ii) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”) and
(iii) the Executive terminates the Executive’s employment within thirty (30) days following the end of the Cure Period. 
 5.
Compensation upon Termination. Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided in this Section 5, all of Executive’s rights to salary, severance, benefits, bonuses and other
compensatory amounts shall cease upon the termination of Executive’s employment. 
 (a) Accrued Rights. Following the
termination of the Executive’s employment for any reason, the Company shall pay to the Executive the Base Salary and accrued and unused vacation benefits earned through the Termination Date at the rate in effect at the time of termination, plus
all other amounts to which the Executive is entitled under any compensation plan or practice of the Company at the time of termination, less standard deductions and withholdings. 

(b) Death or Complete Disability. If the Executive’s employment is terminated for death or Complete Disability, the vesting and/or
exercisability of the Options and Restricted Shares shall be accelerated on the Termination Date as to the number of Options and Restricted Shares that would have vested over the twelve (12) month period following the Termination Date had the
Executive remained continuously employed by the Company during such period. 
 (c) Certain other Terminations. If the Executive
remains continuously employed with the Company through the Resignation Date or the Executive’s employment with the Company is terminated on or prior to the Resignation Date by the Company without Cause or by the Executive for Good Reason, then
subject to the Executive executing and delivering to the Company a release in the form attached hereto as Exhibit A (the “Bring-Down Release”) no later than twenty-one (21) days following the Termination Date, and
the Bring-Down Release becoming effective and irrevocable in accordance with its terms, the Executive shall be entitled to receive the following: 

(i) an amount equal to $137,500, less standard deductions and withholdings, paid in substantially equal installments over a
period of six (6) months following the Termination Date pursuant to the Company’s standard payroll practices (the “Base Salary Severance”), provided that any Base Salary Severance which would otherwise be
payable prior to the 30th day following the Termination Date shall be cumulated and paid in a lump sum on the Company’s first ordinary payroll date that occurs on or after the 30th day following the Termination Date; 

  
 3 

 (ii) an amount equal to $41,250, less standard deductions and withholdings,
payable in a lump sum on the Company’s first ordinary payroll date that occurs on or after the 30th day following the Termination Date (such amount, together with the Base Salary Severance, the “Cash Severance”); 

(iii) should the Executive timely elect to continue Company-sponsored group health insurance benefits in accordance with the
provisions of COBRA or a similar applicable state law (“State Continuation”), as applicable, following the Termination Date, to the extent that doing so will not result in adverse tax consequences or violate applicable law,
the Company shall pay the full premium for such group health insurance continuation benefits for the Executive and any eligible dependents for a period of six (6) months following the Termination Date; provided, however, that
(A) any such payments will cease if the Executive voluntarily enrolls in a health insurance plan offered by another employer or entity during the period in which the Company is paying such premiums, (B) the Executive agrees to promptly
notify the Company in writing of any such enrollment and (C) for purposes of this Section 5(c)(iii), references to COBRA or State Continuation premiums shall not include any amounts payable by the Executive under an Internal Revenue Code
Section 125 health care reimbursement plan; 
 (iv) the vesting and/or exercisability of each of the Executive’s
outstanding Options shall be automatically accelerated on the effective date of the Bring-Down Release as to the number of Options that would have vested over the six (6) month period following the Termination Date had the Executive remained
continuously employed by the Company during such period; and 
 (v) accelerated vesting under the terms of the Restricted
Stock Agreement on the effective date of the Bring-Down Release of all unvested Restricted Shares. 
 For the avoidance of doubt, if Executive remains
continuously employed with the Company through the Resignation Date and becomes entitled to the accelerated vesting provided under Sections 5(c)(iv) and 5(c)(v), then Executive shall hold the following numbers of vested Options and vested
Restricted Shares (after giving effect to Sections 5(c)(iv) and 5(c)(v)) and all unvested shares subject to the Options shall be forfeited without consideration: 42,971 Restricted Shares, 41,797 shares subject to the First Option and 4,386
shares subject to the Second Option. The Company agrees that such Restricted Shares shall not be subject to any lockup agreement after the expiration of the existing lockup agreement that covers such shares. Upon request by the Company in connection
with an offering by the Company of equity securities, the Executive agrees to execute a lockup agreement restricting the sale, transfer or other disposition of the 

  
 4 

 
shares subject to the First Option and the shares subject to the Second Option for a period of 90 days, in substantially the form of the existing lockup agreement between the Company and the
Executive. 
 6. No Right to Resign for Good Reason. The Executive acknowledges and agrees that this Agreement and the changes in the
Executive’s rights and obligations provided hereunder shall not give the Executive a right to resign employment for Good Reason (whether under this Agreement or the Employment Agreement). 

7. Release of Claims. 

(a) General Release. In exchange for the consideration provided to the Executive in this Agreement, the Executive hereby generally and
completely releases the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, Affiliates, and assigns from any and all claims, liabilities and
obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring on or prior to the date the Executive signs this Agreement, except claims that the law does not permit the Executive to
waive by signing this Agreement. This general release includes, but is not limited to: (a) all claims arising out of or in any way related to the Executive’s employment with the Company or the termination of that employment; (b) all
claims related to the Executive’s compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in
the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in
violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964, the
federal Americans with Disabilities Act of 1990 and the federal Age Discrimination in Employment Act of 1967 (the “ADEA”), the Kansas Anti-discrimination Act, the Kansas Age Discrimination in Employment Act, the Massachusetts
Fair Employment Practices Act, the Massachusetts Civil Rights Act, the Massachusetts Equal Rights Act, the Massachusetts Labor and Industries Act, the Massachusetts Privacy Act, the Massachusetts Wage Act and the Massachusetts Maternity Leave Act,
all as amended. 
 (b) Retained Claims. Notwithstanding the foregoing, nothing in this Agreement shall constitute a release by the
Executive of any claims or damages based on (i) the Executive’s rights to any vested employee benefit entitlements, pursuant to written terms of any employee benefit plan of the Company or its affiliates, (ii) the Executive’s
eligibility for indemnification under applicable law, Company governance documents or under any applicable insurance policy with respect to the Executive’s liability as an employee or officer of the Company, (iii) the Executive’s
rights to the Options and Restricted Shares, pursuant to the terms, as applicable, of the Option Agreements and the Restricted Stock Agreement (each, as modified hereby) and the 2013 Plan or 2010 Plan or (iv) the Executive’s rights under
this Agreement. 
 (c) ADEA. The Executive acknowledges that, among other rights, the Executive is waiving and releasing any rights
the Executive may have under the ADEA, that this 

  
 5 

 
release and waiver is knowing and voluntary, and that the consideration given for this release and waiver is in addition to anything of value to which the Executive was already entitled. The
Executive further acknowledges that the Executive has been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the ADEA which may arise after this
Agreement is executed; (b) the Executive should consult with an attorney prior to executing this Agreement; (c) the Executive has twenty-one (21) days in which to consider this Agreement (although the Executive may choose voluntarily
to execute this Agreement earlier); (d) the Executive has seven (7) days following the execution of this Agreement to revoke the Executive’s consent to this Agreement by delivering written notice of revocation to the Company’s
Chief Executive Officer; (e) nothing in this Agreement prevents or precludes the Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent,
penalties, or costs for doing so, unless specifically authorized by federal law, and (f) this Agreement shall become effective on the eighth (8th) day after the Executive signed this
Agreement, so long as it has not been revoked by the Executive (the “Effective Date”). 
 8. Other
Agreements. The Executive acknowledges the Executive’s continuing obligations under the Non-Disclosure Agreement and the Employment Agreement. This Agreement shall be subject to the provisions of Sections 2.1, 4.8, 7, 8, 10, 11, 15 and 16
of the Employment Agreement as if such sections were set forth herein. The Executive understands and agrees that the Executive’s right to payments under Section 5(c) is contingent upon the Executive’s continued compliance with the
terms of the Non-Disclosure Agreement and Sections 2.2 and 2.3 of the Employment Agreement. 
 9. Withholding. The Company shall
be entitled to withhold from any amounts payable under this Agreement any federal, state, local or foreign withholding or other taxes or charges which the Company reasonably determines it is required to withhold. 

10. Severability; Successors. In the event that any provision or any portion of any provision hereof or any surviving agreement made a
part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision or portion of provision. This Agreement shall
inure to the benefit of the Company and its successors and assigns and shall be binding upon the successors and assigns of the Company and the Executive. 

11. Integration. This Agreement (including the Bring-Down Release), together with the Employment Agreement (as modified hereby), the
Non-Disclosure Agreement, the Option Agreements (as modified hereby) and the Restricted Stock Agreement (as modified hereby) (such additional agreements, collectively, the “Ancillary Agreements”), constitutes the complete,
final and exclusive embodiment of the entire agreement between the Company and the Executive with regard to the subject matter hereof. 

12. Voluntary Execution of Agreement. The Executive represents that the Executive executed this Agreement voluntarily, without any
duress or undue influence on the part or behalf of the Company or any third party. The Executive acknowledges that: (a) the Executive has read this Agreement; (b) the Executive has not relied upon any representations or statements made by
the Company that are not specifically set forth in this Agreement or the Ancillary 

  
 6 

 
Agreements; (c) the Executive has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Executive’s own choice or has elected not to
retain legal counsel; (d) the Executive understands the terms and consequences of this Agreement and of the releases it contains; and (e) the Executive is fully aware of the legal and binding effect of this Agreement. 

13. Application of Internal Revenue Code Section 409A. Notwithstanding anything to the contrary set forth herein, any Cash
Severance amounts that constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), shall not commence in connection with the
Executive’s termination of employment unless and until the Executive has also incurred a “separation from service” within the meaning of Section 409A of the Code, unless the Company reasonably determines that such amounts may be
provided to the Executive without causing the Executive to incur the additional twenty percent (20%) tax under Section 409A of the Code. To the extent any Cash Severance amounts: (i) are paid following the date of termination of the
Executive’s employment through March 15 of the calendar year following such termination, such severance benefits are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations and thus
payable pursuant to the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations; (ii) are paid following said March 15, such Cash Severance benefits are intended to constitute separate
payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations made upon an involuntary separation from service and payable pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations, to the maximum extent permitted
by said provision; and (iii) are in excess of the amounts specified in clauses (i) and (ii) of this paragraph, shall (unless otherwise exempt under Treasury Regulations) be considered separate payments subject to the distribution
requirements of Section 409A(a)(2)(A) of the Code, including, without limitation, the requirement of Section 409A(a)(2)(B)(i) of the Code that payments or benefits be delayed until six (6) months and one (1) day after the
Executive’s separation from service if the Executive is a “specified employee” within the meaning of the aforesaid section of the Code at the time of such separation from service. In the event that a six (6) month and one
(1) day delay of any such separation payments or benefits is required, on the first regularly scheduled pay date following the conclusion of the delay period the Executive shall receive a lump sum payment or benefit in an amount equal to the
separation payments and benefits that were so delayed, and any remaining separation payments or benefits shall be paid on the same basis and at the same time as otherwise specified pursuant to this Agreement (subject to applicable tax withholdings
and deductions). 
 [signature page follows] 

  
 7 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set
forth below. 
  

							
		 		 	ARATANA THERAPEUTICS, INC.
				
	Date: November 26, 2013	 		 	By:	 	 /s/ Steven St. Peter

		 		 	Name:	 	Steven St. Peter, M.D.
		 		 	Its:	 	President and Chief Executive Officer
			
		 		 	EXECUTIVE
			
	Date: November 26, 2013	 		 	 /s/ Louise A. Mawhinney

		 		 	Louise A. Mawhinney

 Exhibit A 

BRING-DOWN RELEASE 

Reference is hereby made to that certain Transition Agreement (the “Transition Agreement”), dated as of
November 26, 2013, by and between Louise A. Mawhinney (the “Executive”) and Aratana Therapeutics, Inc. (the “Company”). Capitalized terms used but not defined in this Bring-Down Release shall have
the meanings set forth in the Transition Agreement. 
 For and in consideration of the payments and benefits due to the Executive pursuant
to Section 5(c) of the Transition Agreement, which the Executive acknowledges are contingent upon the Executive executing and delivering to the Company this Bring-Down Release no later than twenty-one (21) days following the Termination
Date, and this Bring-Down Release becoming effective and irrevocable in accordance with its terms, the Executive hereby re-affirms the release of claims set forth in Section 7(a) of the Transition Agreement (as qualified by Section 7(b) of
the Transition Agreement) as if such release of claims had been executed on the date the Executive executes this Bring-Down Release. 
 The
Executive acknowledges that, among other rights, the Executive is waiving and releasing any rights the Executive may have under the ADEA, that this release and waiver is knowing and voluntary, and that the consideration given for this release and
waiver is in addition to anything of value to which the Executive was already entitled. The Executive further acknowledges that the Executive has been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and
waiver granted herein does not relate to claims under the ADEA which may arise after this Bring-Down Release is executed; (b) the Executive should consult with an attorney prior to executing this Bring-Down Release; (c) the Executive has
twenty-one (21) days in which to consider this Bring-Down Release (although the Executive may choose voluntarily to execute this Bring-Down Release earlier); (d) the Executive has seven (7) days following the execution of this
Bring-Down Release to revoke the Executive’s consent to this Bring-Down Release by delivering written notice of revocation to the Company’s Chief Executive Officer; (e) nothing in this Bring-Down Release prevents or precludes the
Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law, and
(f) this Bring-Down Release shall become effective on the eighth (8th) day after the Executive signed this Agreement, so long as it has not been revoked by the Executive. 

This Bring-Down Release shall be subject to the provisions of Sections 8, 10, 11, 12, 15 and 16 of the Employment Agreement as if such
sections were set forth herein. 
 Executed             , 20    . 

 

	
	EXECUTIVE
	
	  

	Louise A. Mawhinney

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