Document:

Employment Agreement Kenneth M. Bahrt

 Exhibit 10.34 
 Execution Copy 
 EMPLOYMENT AGREEMENT 

This Agreement is made, entered into, and is effective as of the Effective Date, by and between the Company and the Executive.

 Article 1. Term of Employment 
 1.1 The Company hereby agrees to employ the Executive and the Executive hereby agrees to serve the Company in accordance with the terms and conditions set forth herein, for a period of three years,
commencing as of the Effective Date (such three year period, as it may be extended pursuant to Section 1.2, the “Term”). 
 1.2 Commencing on the third anniversary of the Effective Date, and each anniversary thereafter, the Term shall automatically be extended for one additional year, unless at least 90 days prior to such
anniversary, the Company or the Executive shall have given notice in accordance with Section 12.2 that it or he does not wish to extend the Term. 
 1.3 Restricted Shares; Stock Options. The Company shall grant to the Executive on the Employment Date the following long-term incentive awards under and pursuant to the terms and conditions of the
Company’s 2011 Incentive Plan: 
 (a) Time-Based Restricted Shares. A restricted stock award of 50,000 shares of the
Company’s common stock. In the event that the Executive’s employment is terminated for Cause or is voluntarily terminated by the Executive other than for Good Reason, any such shares that are unvested at the time of such termination of
employment shall be forfeited to the Company (in exchange for no consideration). Such shares will vest as to 12,500 shares on the first anniversary of the Employment Date and as to an additional 3,125 shares at the end of each successive three-month
period following the first anniversary of the Employment Date until the fourth anniversary of the Employment Date. 
 (b)
Time-Based Stock Options. A stock option to purchase 150,000 shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the date of grant, a ten year term, and that will
vest and become exercisable as to 37,500 shares on the first anniversary of the Employment Date and as to an additional 9,375 shares at the end of each successive three-month period following the first anniversary of the Employment Date until the
fourth anniversary of the Employment Date. 
 (c) Performance-Based Stock Options. A stock options to purchase 50,000
shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the date of grant, a ten year term, and that will vest and become exercisable upon the satisfaction of the performance
conditions to be agreed by the Executive and the Company’s Board of Directors. 
 Article 2. Definitions 

2.1 “Agreement” means this Employment Agreement. 

 2.2 “Annual Bonus” means the annual bonus that may be paid to the Executive in
accordance with the Company’s annual bonus program as described in Section 5.3. 
 2.3 “Base Salary” means
the salary of record paid to the Executive as annual salary, pursuant to Section 5.2, excluding amounts received under incentive or other bonus plans, whether or not deferred. 

2.4 “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under the Securities Exchange Act.

 2.5 “Beneficiary” means the persons or entities designated or deemed designated by the Executive pursuant to
Section 15.6. 
 2.6 “Board” means the Board of Directors of the Company. 

2.7 “Cause” means: 
 (a) Executive has materially breached any of the terms of this Agreement and failed to correct such breach within 15 days after written notice thereof from the Company; 

(b) Executive has been convicted of a criminal offense involving a felony giving rise to a sentence of imprisonment; 

(c) Executive has breached a fiduciary trust for the purpose of gaining a personal profit, including, without limitation, embezzlement;
or 
 (d) Despite adequate warnings, Executive has intentionally and willfully failed to perform reasonably assigned duties
within the normal and customary scope of the Position. 
 2.8 A “CIC” shall be deemed to have occurred as of the first
day that any one or more of the following conditions is satisfied, provided, in each case, that such event constitutes a “Change of Control Event” within the meaning of Treasury Regulation 1.409A-3(i)(5)(i): 

(a) Any consolidation or merger in which the Company is not the continuing or surviving entity or pursuant to which shares of the Common
Stock would be converted into cash, securities, or other property, other than (i) a merger of the Company in which the holders of the Common Stock immediately prior to the merger have the same proportionate ownership of common stock of the
surviving corporation immediately after the merger, or (ii) a consolidation or merger which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (by being converted into voting
securities of the continuing or surviving entity) more than 50% of the combined voting power of the voting securities of the continuing or surviving entity immediately after such consolidation or merger and which would result in the members of the
Board immediately prior to such consolidation or merger (including for this purpose any individuals whose election or nomination for election was approved by a vote of at least two-thirds of such members) constituting a majority of the Board (or
equivalent governing body) of the continuing or surviving entity immediately after such consolidation or merger; 

  
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 (b) Any sale, lease, exchange, or other transfer (in one transaction or a series of related
transactions) of all or substantially all the Company’s assets; 
 (c) The Company’s stockholders approve any plan or
proposal for the liquidation or dissolution of the Company; 
 (d) Any Person has become the Beneficial Owner of 35% or more of
the Common Stock other than pursuant to a plan or arrangement entered into between such Person and the Company; or 
 (e) During
any period of two consecutive years, individuals who at the beginning of such period constitute the entire Board shall cease for any reason to constitute a majority of the Board unless the election or nomination for election by the Company’s
stockholders of each new director was approved by a vote of at lest two-thirds of the directors then still in office who were directors at the beginning of the period. 
 2.9 “CIC Severance Benefits” means the payment of severance compensation associated with a Qualifying Termination occurring subsequent to a CIC, as described in Section 8.3. 

2.10 “Code” means the Internal Revenue Code of 1986, as amended. 

2.11 “Common Stock” means the common stock of the Company, $.01 par value per share. 

2.12 “Compensation Committee” means the Compensation and Human Resources Committee of the Board, or the committee appointed by
the Board to perform the functions of such committee, or if no such committee exists, the Board. 
 2.13 “Company”
means Savient Pharmaceuticals, Inc., a Delaware corporation, or any Successor Company thereto as provided in Section 11.1. 

2.14 “Director” means any individual who is a member of the Board. 

2.15 “Disability” or “Disabled” has the meaning ascribed to such term in the Company’s long-term disability
plan, or in any successor to such plan. 
 2.16 “Effective Date” means July 1, 2011. 

2.17 “Effective Date of Termination” means the date on which a termination of the Executive’s employment occurs.

 2.18 “Employment Date” means July 31, 2011 

2.19 “Executive” means Kenneth M. Bahrt, M.D., FACR. 
 2.20 “Good Reason” shall mean, without the Executive’s express written consent, the occurrence of any one or more of the following: 

(a) A reduction of the Base Salary; 

  
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 (b) A failure to maintain Executive’s amount of benefits under or relative level of
eligibility for participation in the Company’s employee benefit or retirement plans, policies, practices, or arrangements in which the Executive participates as of the Effective Date of this Agreement, including any perquisite program;
provided, however, that any such change that applies consistently to all executive officers of the Company or is required by applicable law shall be deemed not to constitute Good Reason; 

(c) A failure to require any Successor Company to assume and agree to perform the Company’s obligations hereunder; 

(d) Requiring Executive to be based at a location that requires the Executive to travel more than an additional 35 miles per day;

 (e) Requiring Executive to report to a position which is at a lower level than the highest level to which Executive reported
within the six months prior to the CIC; 
 (f) Demoting Executive to a level lower than Executive’s level in the Company as
of the Effective Date; 
 (g) The Company’s failure to extend the Term pursuant to Section 1.2 (if the Agreement would
expire unless the Term is extended within such period), as evidenced by a Notice of Termination delivered by the Company to the Executive; or 
 (h) A material breach of any material provision of this Agreement by the Company or a Successor Company which is not cured within 30 days of receiving a written notice from the Executive with such notice
explaining in reasonable detail the facts and circumstances claimed to provide a basis for the Executive’s claim. 
 2.21
“Notice of Termination” means a written notice indicating the specific termination provision in this Agreement relied upon, and that sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
the Executive’s employment under the provisions so indicated, and, where applicable, which shall specifically include notice pursuant to Section 1.2 that Company has elected not to extend the Term. 

2.22 “Payment Date” shall have the meaning ascribed to it in Section 15.12. 

2.23 “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Securities Exchange Act and used in
Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 
 2.24
“Position” shall have the meaning ascribed to it in Section 3.1. 
 2.25 “Qualifying Termination” means
any of the events described in Section 8.2, the occurrence of which triggers the payment of CIC Severance Benefits hereunder. 
 2.26 “Release” shall have the meaning ascribed to it in Section 15.12. 

  
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 2.27 “Securities Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 2.28 “Section 409A” shall have the meaning ascribed to it in Section 9(a)(i). 

2.29 “Severance Benefits” means the payment of severance compensation as provided in Sections 7.4 and 7.6, and not payable due
to a CIC. 
 2.30 “Six-Month Payment Date” shall have the meaning ascribed to it in Section 10.1. 

2.31 “Successor Company” means any company that (i) acquires more than 50% of the assets of the Company or
(ii) acquires more than 50% of the outstanding stock of the Company, or (iii) is the surviving entity in the event of a CIC. 
 Article 3. Position and Responsibilities 
 3.1 During the Term, the
Executive agrees to serve as Senior Vice President, Chief Medical Officer of the Company, reporting to the Chief Executive Officer, or in such other position which Executive shall agree to accept or to which Executive shall be promoted during the
Term (the “Position”). 
 Article 4. Standard of Care 

4.1 During the Term, the Executive shall devote substantially his full time, attention, and energies to the Company’s business and
shall not be engaged in any other business activity, whether or not such business activity is pursued for gain, profit, or other pecuniary advantage, unless such business activity is approved by the Board or Compensation Committee. 

Article 5. Compensation 
 5.1 As remuneration for all services to be rendered by the Executive during the Term, and as consideration for complying with the covenants herein, the Company shall pay and provide to the Executive those
items set forth in Sections 5.2 through 5.8. 
 5.2 The Company shall pay the Executive a Base Salary in an amount established
from time to time by the Board or the Compensation Committee; provided, however, that such Base Salary shall not be at an annualized rate of less than $400,000 per year. 

(a) This Base Salary shall be paid to the Executive in equal installments throughout the year, consistent with the normal payroll
practices of the Company. 
 (b) The Base Salary shall be reviewed at least annually during the Term, to ascertain whether, in
the judgment of the Board or Compensation Committee, such Base Salary should be changed based primarily on the performance of the Executive during the year. 
 5.3 Annual Bonus. In addition to the Base Salary, the Executive shall be entitled to participate in the Company’s annual short-term incentive program, as such program may exist from time to
time, at a level commensurate with the Position. The percentage of Base Salary 

  
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targeted as annual short-term incentive compensation shall be 50% of Base Salary (the “Targeted Annual Bonus Award”) (subject to pro-ration for the calendar year 2011). The Executive
acknowledges that the amount of annual short-term incentive, if any, to be awarded shall be at the sole discretion of the Board or Compensation Committee, may be less or more than the Targeted Annual Bonus Award, and will be based on a number of
factors set in advance by the Board or Compensation Committee for each calendar year, including the Company’s performance and the Executive’s individual performance. Nothing in this Section 5.3 shall be construed as obligating the
Company, the Board or the Compensation Committee to refrain from changing, and/or amending the short-term incentive program, so long as such changes are equally applicable to all executive employees of the Company. 

5.4 Long-Term Incentives. The Executive shall be eligible to participate in the Company’s long-term incentive plan, as such
shall be amended or superseded from time to time; provided, however, that nothing in this Section 5.4 shall be construed as obligating the Company, the Board or the Compensation Committee to refrain from changing, and/or amending
the long-term incentive plan, so long as such changes are equally applicable to all executive employees of the Company. 
 5.5
Retirement Benefits. The Company shall permit the Executive to participate in any Company qualified defined benefit and defined contribution retirement plans as may be established during the Term; provided, however, that nothing
in this Section 5.5 shall be construed as obligating the Company, the Board or the Compensation Committee to refrain from changing, and/or amending the nonqualified retirement programs, so long as such changes are equally applicable to all
executive employees of the Company. 
 5.6 Employee Benefits. During the Term, and as otherwise provided within the
provisions of each of the respective plans, the Company shall make available to the Executive all benefits to which other executives and employees of the Company are entitled to receive, as commensurate with the Position, subject to the eligibility
requirements and other provisions of such arrangements as applicable to executives of the Company generally. 
 (a) Such
benefits shall include, but shall not be limited to, comprehensive health and major medical insurance, dental and life insurance, and short-term and long-term disability. 
 (b) The Executive may likewise participate in any additional benefit as may be established during the Term, by written policy of the Company. 

5.7 Vacation. The Executive shall accrue such paid vacation as is customary for the Position in corporate institutions of similar
size and character in the determination of the Board or Compensation Committee, but in any event not less than 25 paid vacation days during each calendar year (subject to pro-ration in calendar year 2011). 

5.8 Perquisites. The Company shall provide to the Executive, at the Company’s expense, such perquisites as the Board or
Compensation Committee may determine from time to time to provide. 

  
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 5.9 Right to Change Plans. The Company shall not be obligated to institute,
maintain, or refrain from changing, amending, or discontinuing any benefit plan, program, or perquisite, so long as such changes are equally applicable to all executive employees of the Company. 

Article 6. Expenses 
 6.1 Upon presentation of appropriate documentation, the Company shall pay, or reimburse the Executive for all ordinary and necessary expenses, in a reasonable amount, which the Executive incurs in
performing his duties under this Agreement including, but not limited to, travel, entertainment, professional dues and subscriptions, and dues, fees, and expenses associated with membership in appropriate professional, business, and civic
associations and societies. All such reimbursements shall be subject to the terms and conditions set forth in Section 9(c). 

Article 7. Employment Terminations 
 7.1 Termination Due to Death. In the event the Executive’s employment is terminated during the Term by reason of death, subject to Section 7.1(g), the Company’s obligations under
this Agreement shall immediately expire. Notwithstanding the foregoing, the Company shall be obligated to pay to the Executive the following: 
 (a) Base Salary through the Effective Date of Termination; 
 (b) An amount equal
to the Executive’s unpaid Targeted Annual Bonus Award, established for the fiscal year in which such termination is effective, multiplied by a fraction, the numerator of which is the number of completed days in the then-existing fiscal year
through the Effective Date of Termination, and the denominator of which is 365; 
 (c) All outstanding long-term incentive
awards shall be subject to the treatment provided under the applicable long-term incentive plan of the Company or grant agreement; 
 (d) Accrued but unused vacation pay through the Effective Date of Termination; and 

(e) All other rights and benefits the Executive is vested in, pursuant to other plans and programs of the Company. 

(f) The benefits described in Sections 7.1(a), (b) and (d) shall be paid in cash to the Executive in a single lump sum as soon
as practicable following the Effective Date of Termination, but in no event more than 30 days after such date. All other payments due to the Executive upon termination of employment, including those described in Sections 7.1(c) and (e), shall be
paid in accordance with the terms of such applicable plans or programs. 
 (g) With the exception of Articles 8, 9, 10, 11, 12,
15 and 16 and Section 7.1 (which shall survive such termination), the Company and the Executive shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this Section 7.1. 

  
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 7.2 Termination Due to Disability. In the event that the Executive becomes Disabled
during the Term and is, therefore, unable to perform his duties for more than 180 total calendar days during any period of 12 consecutive months, or in the event of the Board’s reasonable expectation that the Executive’s Disability will
exist for more than a period of 180 calendar days, the Company shall have the right to terminate the Executive’s employment as provided in this Section 7.2. 
 (a) The Board shall deliver written notice to the Executive of the Company’s intent to terminate for Disability at least 30 calendar days prior to the Effective Date of Termination. 

(b) Determinations of Executive’s Disability shall determined by the Board upon receipt of and in reliance on competent medical
advice from one or more individuals, selected by the Board who are qualified to give such professional medical advice. 
 (c) A
termination for Disability shall become effective upon the end of the 30-day notice period. Upon the Effective Date of Termination, subject to Section 7.2(f), the Company’s obligations under this Agreement shall immediately expire.

 (d) Notwithstanding the foregoing, the Company shall be obligated to pay to the Executive the following: 

(1) Base Salary through the Effective Date of Termination; 
 (2) An amount equal to the Executive’s unpaid Targeted Annual Bonus Award established for the fiscal year in which the Effective Date of Termination occurs, multiplied by a fraction, the numerator of
which is the number of completed days in the then-existing fiscal year through the Effective Date of Termination, and the denominator of which is 365; 
 (3) All outstanding long-term incentive awards shall be subject to the treatment provided under the applicable long-term incentive plan of the Company or grant agreement; 

(4) Accrued but unused vacation pay through the Effective Date of Termination; and 

(5) All other rights and benefits the Executive is vested in, pursuant to other plans and programs of the Company. 

(e) The benefits described in Sections 7.2(d)(1) and (d)(4) shall be paid in cash to the Executive in a single lump sum as soon as
practicable following the Effective Date of Termination, but in no event later than 30 days after such date. The payments due to the Executive under Section 7.2(d)(2) shall be paid in a lump sum on the Payment Date (as defined in
Section 15.12). All other payments due to the Executive upon termination of employment, including those in Sections 7.2(d)(3) and (d)(5), shall be paid in accordance with the terms of such applicable plans or program. 

  
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 (f) With the exception of the covenants contained in Articles 8, 9, 10, 11, 12, 13, 15 and
16 and Section 7.2 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this Section 7.2.

 7.3 Voluntary Termination by the Executive. The Executive may terminate this Agreement at any time by giving Notice of
Termination to the Board, delivered at least 14 calendar days prior to the Effective Date of Termination. 
 (a) The termination
automatically shall become effective upon the expiration of the 14-day notice period. Notwithstanding the foregoing, the Company may waive the 14-day notice period; provided, however, that the Executive shall be entitled to receive all
elements of compensation described in Sections 5.1 through 5.6 for the 14-day notice period, subject to the eligibility and participation requirements of any qualified retirement plan. 

(b) Upon the Effective Date of Termination, following the expiration of the 14-day notice period, the Company shall pay the Executive his
full Base Salary and accrued but unused vacation pay, at the rate then in effect, through the Effective Date of Termination, plus all other benefits to which the Executive has a vested right at that time (for this purpose, the Executive shall not be
paid any Annual Bonus with respect to the fiscal year in which voluntary termination under this Section occurs). 
 (c) With the
exception of Articles 8, 9, 10, 11, 12, 13, 15 and 16 and Section 7.3 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of
Termination pursuant to this Section 7.3. 
 7.4 Involuntary Termination by the Company without Cause. At all times
during the Term, the Board may terminate the Executive’s employment for reasons other than death, Disability or Cause, by providing to the Executive a Notice of Termination, at least 60 calendar days (90 calendar days when termination is due to
non-extension of the Term by the Company pursuant to Section 1.2) prior to the Effective Date of Termination; provided, however, that such notice shall not preclude the Company from requiring Executive to leave the Company
immediately upon receipt of such notice. 
 (a) Such Notice of Termination shall be irrevocable absent express, mutual consent
of the parties. 
 (b) Upon the Effective Date of Termination (not a Qualifying Termination), following the expiration of the
60-day notice period (90 days in the case of non-extension of the Term), the Company shall pay and provide to the Executive: 

(1) An amount equal to the Executive’s annual Base Salary established for the fiscal year in which the Effective Date of
Termination occurs; 
 (2) An amount equal to the Executive’s Targeted Annual Bonus Award established for the fiscal year
in which the Effective Date of Termination occurs; 

  
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 (3) A continuation of the welfare benefits of health care, life and accidental death and
dismemberment, and disability insurance coverage (or if continuation under the Company’s then current plans is not allowed, then provision at the Company’s expense but subject to payment by Executive of those payments which Executive would
have been obligated to make under the Company’s then current plan, of substantially similar welfare benefits from one or more third party providers) after the Effective Date of Termination for two years. Such benefits (or payments in lieu
thereof) shall be provided or paid in accordance with the Company’s regular payroll practice applicable to such benefits. These benefits shall be provided to the Executive at the same coverage level as in effect as of the Effective Date of
Termination, and at the same premium cost to the Executive which was paid by the Executive at the time such benefits were provided. However, in the event the premium cost and/or level of coverage shall change for all employees of the Company, or for
management employees with respect to supplemental benefits, the cost and/or coverage level, likewise, shall change for the Executive in a corresponding manner. The continuation of these welfare benefits shall be discontinued if prior to the
expiration of the period, the Executive has available substantially similar benefits at a comparable cost to the Executive from a subsequent employer, as determined by the Board or Compensation Committee; 

(4) All outstanding equity awards granted to the Executive that vest based solely on the passage of time (rather than performance
conditions) shall become fully vested and exercisable, as applicable, and all restrictions to which such awards may be subject shall immediately lapse; 
 (5) An amount equal to the Executive’s unpaid Base Salary and accrued but unused vacation pay through the Effective Date of Termination; and 

(6) All other benefits to which the Executive has a vested right at the time, according to the provisions of the governing plan or
program. 
 (c) In the event that the Board terminates the Executive’s employment without Cause on or after the date of the
announcement of the transaction which leads to a CIC, the Executive shall be entitled to the CIC Severance Benefits as provided in Section 8.3 in lieu of the Severance Benefits outlined in this Section 7.4; provided, however,
that to the extent the Executive terminates employment prior to the CIC, the CIC Severance Benefits shall be paid on the same schedule as the Severance Benefits. 
 (d) Payment of all but 10% of the benefits described in Section 7.4(b)(1), and payment of all but 10% of the benefits described in Section 7.4(b)(2) shall be paid in cash to the Executive in
equal semimonthly installments over a period of 12 consecutive months beginning on the Payment Date, subject to the provisions of Article 9. The amounts that were withheld shall be paid in cash to the Executive in a single lump sum at the end of the
6-month restrictive period set forth in Section 13.3. 
 (e) Except as specifically provided in Section 7.4(f), all
other payments due to the Executive upon termination of employment shall be paid in accordance with the terms of such applicable plans or programs. 

  
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 (f) With the exception of Articles 8, 9, 10, 11, 12, 13, 14 and 15 and Section 7.4
(which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this Section 7.4. 

(g) Notwithstanding anything herein to the contrary, and subject to the provisions of Section 409A of the Code, the Company’s
payment obligations under this Section 7.4 shall be offset by any amounts that the Company is required to pay to the Executive under a national statutory severance program applicable to such Executive. 

7.5 Termination for Cause. Nothing in this Agreement shall be construed to prevent the Board from terminating the Executive’s
employment under this Agreement for Cause. 
 (a) To be effective, the Notice of Termination must set forth in reasonable detail
the facts and circumstances claimed to provide a basis for such termination for Cause. 
 (b) In the event this Agreement is
terminated by the Board for Cause, the Company shall pay the Executive his Base Salary and accrued vacation pay through the Effective Date of Termination, and the Executive shall immediately thereafter forfeit all rights and benefits (other than
vested benefits) he would otherwise have been entitled to receive under this Agreement. The Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date of Termination pursuant to this
Section 7.5 with the exception of the covenants contained in Articles 8, 9, 10, 11, 12, 13, 14 and 15 and Section 7.5 (which shall survive such termination). 
 7.6 Termination for Good Reason. The Executive shall have 60 days from the date he learns of action taken by the Company that allows the Executive to terminate his employment for Good Reason to
provide the Board with a Notice of Termination. 
 (a) The Notice of Termination must set forth in reasonable detail the facts
and circumstances claimed to provide a basis for such Good Reason termination. 
 (b) The Company shall have 30 days to cure
such Company action following receipt of the Notice of Termination. 
 (c) The Executive is required to continue his employment
for the 60-day period following the date in which he provided the Notice of Termination to the Board. The Company may waive the sixty 60-day notice period; however, the Executive shall be entitled to receive all elements of compensation
described in Sections 5.2, 5.4, 5.5 and 5.6 for the 60-day notice period, subject to the eligibility and participation requirements of any qualified retirement plan. 
 (d) Upon a termination of the Executive’s employment for Good Reason during the Term, and following the expiration of the 60-day notice period, the Company shall pay and provide to the Executive the
following: 
 (1) An amount equal to the Executive’s annual Base Salary established for the fiscal year in which the
Effective Date of Termination occurs; 

  
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 (2) An amount equal to the Executive’s Targeted Annual Bonus Award established for
the fiscal year in which the Effective Date of Termination occurs; 
 (3) A continuation of the welfare benefits of health
care, life and accidental death and dismemberment, and disability insurance coverage for two years after the Effective Date of Termination (or if continuation under the Company’s then current plans is not allowed, then provision at the
Company’s expense but subject to payment by Executive of those payments which Executive would have been obligated to make under the Company’s then current plan, of substantially similar welfare benefits from one or more third party
providers). Such benefits (or payments in lieu thereof) shall be provided or paid in accordance with the Company’s regular payroll practice applicable to such benefits. These benefits shall be provided to the Executive at the same coverage
level, as in effect as of the Effective Date of Termination and at the same premium cost to the Executive which was paid by the Executive at the time such benefits were provided. However, in the event the premium cost and/or level of coverage shall
change for all employees of the Company, or for management employees with respect to supplemental benefits, the cost and/or coverage level, likewise, shall change for the Executive in a corresponding manner. The continuation of these welfare
benefits shall be discontinued prior to the end of the two-year period in the event the Executive has available substantially similar benefits at a comparable cost to the Executive from a subsequent employer, as determined by the Board or
Compensation Committee; 
 (4) All outstanding equity awards granted to the Executive that vest based solely on the passage of
time (rather than performance conditions) shall become fully vested and exercisable, as applicable, and all restrictions to which such awards may be subject shall immediately lapse; 

(5) An amount equal to the Executive’s unpaid Base Salary and accrued but unused vacation pay through the Effective Date of
Termination; and 
 (6) All other benefits to which the Executive has a vested right at the time, according to the provisions
of the governing plan or program. 
 (e) In the event of termination of Executive’s employment for Good Reason on or after
the date of the announcement of the transaction which leads to the CIC and up to 12 months following the date of the CIC, the Executive shall be entitled to the CIC Severance Benefits as provided in Section 8.3 in lieu of the Severance Benefits
outlined in this Section 7.6; provided, however, that to the extent the Executive terminates employment prior to the CIC, the CIC Severance Benefits shall be paid on the same schedule as the Severance Benefits. 

(f) The Executive’s right to terminate employment for Good Reason shall not be affected by the Executive’s incapacity due to
physical or mental illness unless such incapacity is determined to constitute a Disability as provided herein. 
 (g) Payment of
all but 10% of the benefits described in Section 7.6(d)(1) and payment of all but 10% of the benefits described in Section 7.6(d)(2) shall be paid in cash to the Executive in equal semimonthly installments over a period of 12 consecutive
months beginning on the Payment Date, subject to Article 9. The amounts that were withheld shall be paid in cash to the Executive in a single lump sum at the end of the 6-month restrictive period set forth in Section 13.3 of this Agreement.

  
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 (h) Except as specifically provided in Section 7.6(g), all other payments due to the
Executive upon termination of employment shall be paid in accordance with the terms of such applicable plans or programs. 
 (i)
With the exceptions of Articles 8, 9, 10, 11, 12, 13, 14 and 15 and Section 7.6 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement following the Effective Date
of Termination pursuant to this Section 7.6. 
 Article 8. Change in Control 

8.1 Employment Termination Following a CIC. The Executive shall be entitled to receive from the Company CIC Severance Benefits if
a Notice of Termination for a Qualifying Termination of the Executive has been delivered; provided, that: 
 (a) The
Executive shall not be entitled to receive CIC Severance Benefits if he is terminated for Cause (as provided in Section 7.5), or if his employment with the Company ends due to death, or Disability, or due to voluntary termination of employment
by the Executive without Good Reason. 
 (b) CIC Severance Benefits shall be paid in lieu of all other benefits provided to the
Executive under the terms of this Agreement. 
 8.2 Qualifying Termination. The occurrence of any one or more of the
following events on or after the date of the announcement of the transaction which leads to the CIC and up to 12 months following the date of the CIC shall trigger the payment of CIC Severance Benefits to the Executive under this Agreement:

 (a) An involuntary termination of the Executive’s employment by the Company for reasons other than Cause, death, or
Disability, as evidenced by a Notice of Termination delivered by the Company to the Executive; or 
 (b) A voluntary termination
by the Executive for Good Reason as evidenced by a Notice of Termination delivered to the Company by the Executive. 
 8.3
Severance Benefits Paid upon a Qualifying Termination. In the event the Executive becomes entitled to receive CIC Severance Benefits, the Company shall pay to the Executive and provide him the following: 

(a) An amount equal to 1.5 times the Executive’s annual Base Salary established for the fiscal year in which the Effective Date of
Termination occurs; 
 (b) An amount equal to 1.5 times the Executive’s Targeted Annual Bonus Award established for the
fiscal year in which the Executive’s Effective Date of Termination occurs; 

  
 13 

 (c) An amount equal to the Executive’s unpaid Base Salary and accrued but unused
vacation pay through the Effective Date of Termination; 
 (d) All outstanding long-term incentive awards shall accelerate and
become fully vested; 
 (e) A continuation of the welfare benefits of health care, life and accidental death and dismemberment,
and disability insurance coverage for 2.5 years after the Effective Date of Termination (or if continuation under the Company’s then current plans is not allowed, then provision at the Company’s expense but subject to payment by Executive
of those payments which Executive would have been obligated to make under the Company’s then current plan, of substantially similar welfare benefits from one or more third-party providers). Such benefits (or payments in lieu thereof) shall be
provided or paid in accordance with the Company’s regular payroll practice applicable to such benefits. 
 (1) These
benefits shall be provided to the Executive at the same coverage level, as in effect as of the Effective Date of Termination or, if greater, as in effect 60 days prior to the date of the CIC, and at the same premium cost to the Executive which was
paid by the Executive at the time such benefits were provided. 
 (2) In the event the premium cost and/or level of coverage
shall change for all employees of the Company, or for management employees with respect to supplemental benefits, the cost and/or coverage level, likewise, shall change for the Executive in a corresponding manner. 

(3) The continuation of these welfare benefits shall be discontinued prior to the end of the 2.5-year period in the event the Executive
has available substantially similar benefits at a comparable cost to the Executive from a subsequent employer, as determined by the Board or Compensation Committee. 
 8.4 Form and Timing of Severance Benefit. Payment of all of the benefits described in Sections 8.3(a) through (c) shall be paid in cash to the Executive in a single lump sum on the Payment
Date, subject to Article 9. All other payments due to the Executive upon termination of employment shall be paid in accordance with the terms of such applicable plans or programs. 

8.5 Excise Taxes 
 (a) Notwithstanding any other provision of this Agreement, except as set forth in Section 8.5(b), in the event that the Company undergoes a “Change in Ownership or Control” (as defined
below), any “Contingent Compensation Payments” (as defined below) that the Executive has the right to receive shall be either (i) reduced (but not below zero) so that the present value of the Contingent Compensation Payments will be
one dollar ($1.00) less than three times the Executive’s “base amount” (as defined in Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (the “Code”)) and so that no portion of the Contingent
Compensation Payments received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code or (ii) paid in full, whichever produces the better net after-tax position to the Executive. For purposes of this
Section 8.5, the Contingent Compensation Payments so eliminated under (i) above shall be referred to as the “Eliminated Payments” and the aggregate 

  
 14 

 
amount (determined in accordance with Treasury Regulation Section 1.280G-1, Q/A-30 or any successor provision) of the Contingent Compensation Payments so eliminated shall be referred to as
the “Eliminated Amount.” In addition, the override of such reduction in Contingent Compensation Payments pursuant to (ii) above shall be referred to as a “Section 8.5 Override.” 

(b) For purposes of this Section 8.5 the following terms shall have the following respective meanings: 

(1) “Change in Ownership or Control” shall mean a change in the ownership or effective control of the Company or in the
ownership of a substantial portion of the assets of the Company determined in accordance with Section 280G(b)(2) of the Code. 
 (2) “Contingent Compensation Payment” shall mean any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified
individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company. 

(c) Any payments or other benefits otherwise due to the Executive following a Change in Ownership or Control that could reasonably be
characterized (as determined by the Company) as Contingent Compensation Payments (the “Potential Payments”) shall not be made until the dates provided for in this Section 8.5(c). Within 30 days after each date on which the Executive
first becomes entitled to receive (whether or not then due) a Contingent Compensation Payment relating to such Change in Ownership or Control, the Company shall determine and notify the Executive (with reasonable detail regarding the basis for its
determinations) (i) which Potential Payments constitute Contingent Compensation Payments, (ii) the Eliminated Amount, if any, and (iii) whether the Section 8.5 Override is applicable. Within 30 days after delivery of such notice
to the Executive, the Executive shall deliver a response to the Company (the “Executive Response”) stating either (A) that he agrees with the Company’s determination pursuant to the preceding sentence, or (B) that he
disagrees with such determination, in which case he shall set forth (i) which Potential Payments should be characterized as Contingent Compensation Payments, (ii) the Eliminated Amount, if any, and (iii) whether the Section 8.5
Override is applicable. If and to the extent that there is an Eliminated Amount, the Contingent Compensation Payments shall be reduced or eliminated, as determined by the Company, in the following order: (w) any cash payments, (x) any
taxable benefits, (y) any nontaxable benefits, and (z) any vesting of equity awards, in each case in the reverse order beginning with payments or benefits that are to be paid the farthest in time from the date that triggers the
applicability of the Excise Tax, to the extent necessary to avoid the Excise Tax. In the event that the Executive fails to deliver an Executive Response on or before the required date, the Company’s initial determination shall be final and the
Contingent Compensation Payments that shall be treated as Eliminated Payments, if any, shall be determined by the Company in its absolute discretion. If the Executive states in the Executive Response that he agrees with the Company’s
determination, the Company shall make the Potential Payments to the Executive within three business days following delivery to the Company of the Executive Response (except for any Potential Payments which are not due to be made until after such
date, which Potential Payments shall be made on the date on which they are due). If the Executive states in the Executive Response that he disagrees with the Company’s determination, then, for a period of 60 days following delivery

  
 15 

 
of the Executive Response, the Executive and the Company shall use good faith efforts to resolve such dispute. If such dispute is not resolved within such 60-day period, such dispute shall be
settled exclusively by arbitration in East Brunswick, New Jersey, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. The
Company shall, within three business days following delivery to the Company of the Executive Response, make to the Executive those Potential Payments as to which there is no dispute between the Company and the Executive regarding whether they should
be made (except for any such Potential Payments which are not due to be made until after such date, which Potential Payments shall be made on the date on which they are due). The balance of the Potential Payments shall be made within three business
days following the resolution of such dispute. Subject to the limitations contained in Sections 8.5(a) and (b), the amount of any payments to be made to the Executive following the resolution of such dispute shall be increased by amount of the
accrued interest thereon computed at the prime rate announced from time to time by Citibank, N.A., compounded monthly from the date that such payments originally were due. 
 (d) The provisions of this Section 8.5 are intended to apply to any and all payments or benefits available to the Executive under this Agreement or any other agreement or plan of the Company under
which the Executive receives Contingent Compensation Payments. 
 8.6 Long-Term Incentive Awards. In the event of a CIC
during the Term, all outstanding long-term incentive awards held by the Executive shall immediately accelerate and become fully vested. 
 8.7 With the exceptions of Articles 8, 9, 10, 11, 12, 13 and 14 (which shall survive such termination), the Company and the Executive thereafter shall have no further obligations under this Agreement
following the Effective Date of Termination pursuant to this Article 8. 
 Article 9. Compliance with IRC
Section 409A. 
 (a) The following rules shall apply with respect to distribution of the payments and benefits, if any,
to be provided to the Executive under Articles 7 or 8, as applicable: 
 (i) It is intended that each installment of the
payments and benefits provided under Articles 7 or 8 shall be treated as a separate “payment” for purposes of Section 409A of the Code and the guidance issued thereunder (“Section 409A”). Neither the Company nor the
Executive shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A. 

(ii) If, as of the date of the “separation from service” of the Executive from the Company (determined as set forth below),
the Executive is not a “specified employee” (within the meaning of Section 409A), then each installment of the payments and benefits shall be made on the dates and terms set forth in Articles 7 or 8, as applicable. 

(iii) If, as of the date of the “separation from service” of the Executive from the Company, the Executive is a
“specified employee” (within the meaning of Section 409A), then: 
 (1) Each installment of the payments and
benefits due under Articles 7 or 8, as applicable, that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the Short-Term Deferral Period (as
defined under Section 409A) shall be treated as a short-term deferral within the meaning of Treasury Regulation § 1.409A-1(b)(4) to the maximum extent permissible under Section 409A and shall be paid at the time and in the manner set
forth in this Agreement; and 

  
 16 

 (2) Each installment of the payments and benefits due under Articles 7 or 8 that is not
described in clause (1), above, and that would, absent this subsection, be paid within the six-month period following the “separation from service” of the Executive from the Company shall not be paid until the date that is six months and
one day after such separation from service (or, if earlier, the Executive’s death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months
and one day following the Executive’s separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this
sentence shall not apply to any installment of payments and benefits if and to the maximum extent that that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the
application of Treasury Regulation § 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation § 1.409A-1(b)(9)(iii) must be paid
no later than the last day of the Executive’s second taxable year following his taxable year in which the separation from service occurs. 
 (b) The determination of whether and when a separation from service of the Executive from the Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth
in, Treasury Regulation § 1.409A-1(h). Solely for purposes of this Section 4.4(b), “Company” shall include all persons with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the Code.

 (c) All reimbursements and in-kind benefits provided under the Agreement shall be made or provided in accordance with the
requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the
requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred during the
Executive’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other
calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or
liquidation or exchange for any other benefit. 
 (d) The parties acknowledge and agree that the interpretation of
Section 409A and its application to the terms of this Agreement is uncertain and may be subject to change as additional guidance and interpretations become available. Anything to the contrary herein

  
 17 

 
notwithstanding, all benefits or payments provided by the Company to the Executive that would be deemed to constitute “nonqualified deferred compensation” within the meaning of
Section 409A are intended to comply with Section 409A. If, however, any such benefit or payment is deemed to not comply with Section 409A, the Company and Executive agree to renegotiate in good faith any such Severance Benefit or CIC
Severance Benefit (including, without limitation, as to the timing of any such payment payable pursuant to the terms of this Agreement) so that either (i) Section 409A will not apply or (ii) compliance with Section 409A will be
achieved. 
 Article 10. Creation of Rabbi Trust 
 10.1 In the event that a CIC Severance Payment is required to be made on the day that is six months and one day after the Executive’s “separation from service” pursuant to Section 9
(a)(iii), the Company shall deposit the full amount of such CIC Severance Payment in cash in a rabbi trust for the benefit of the Executive as soon as reasonably practicable following the Executive’s “separation from service”. The
rabbi trust shall be governed by the terms of a trust agreement reasonably acceptable to the parties, shall be irrevocable and shall provide that the Company, or any successor thereto, may not, directly or indirectly, use or recover any assets of
the rabbi trust until such time as the assets of the trust have been paid to the Executive hereunder, subject only to the claims of creditors of the Company in the event of its insolvency or bankruptcy. The assets held by the rabbi trust shall be
transferred to Executive one day following the six-month anniversary of the Executives “separation from service” from the Company (the “Six-Month Payment Date”). The assets delivered to Executive pursuant to the rabbi trust shall
reflect any investment gain or loss (as the case may be) on the CIC Severance Benefit from the date the assets comprising the CIC Severance Benefit were deposited into such rabbi trust until the Six-Month Payment Date. The Company, or any successor
thereto, shall deliver and pay over to the appropriate taxing authorities if and when due all amounts subject to withholding with respect to the transfer of the CIC Severance Benefit to the rabbi trust and the transfer of the assets of the rabbi
trust to Executive (as adjusted for any investment gain or loss) on the Six-Month Payment Date, and shall instruct the trustee to transfer to the Executive such assets (in such form and asset class as has been deposited initially into the rabbi
trust), without any further reduction for withholding for federal, state and local taxes other than any additional amounts required to be withheld on any amounts transferred to the Executive that were not included in the initial computation of the
CIC Severance Benefit. 
 Article 11. Assignment 
 11.1 Assignment by Company. This Agreement may and shall be assigned or transferred to, and shall be binding upon and shall inure to the benefit of any Successor Company. 

(a) Any such Successor Company shall be deemed substituted for all purposes as the “Company” under the terms of this Agreement.

 (b) Failure of the Company to obtain the agreement of any Successor Company to be bound by the terms of this Agreement prior
to the effectiveness of any such succession shall be a breach of this Agreement, and shall immediately entitle the Executive to benefits from the Company in the same amount and on the same terms as the Executive would be

  
 18 

 
entitled to receive in the event of a termination of employment for Good Reason as provided in Section 7.7 (failure not related to a CIC) or Section 8.3 (if the failure of assignment
follows or is in connection with a CIC). 
 (c) Except as herein provided, this Agreement may not otherwise be assigned by the
Company. 
 11.2 Assignment by Executive. This Agreement shall inure to the benefit of and be enforceable by the
Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. 
 (a) If the Executive dies while any amount would still be payable to his estate pursuant to this Agreement had he continued to live, all such amounts, unless otherwise provided herein, shall be paid in
accordance with the terms of this Agreement, to the Executive’s Beneficiary. 
 (b) If the Executive has not named a
Beneficiary, then such amounts shall be paid to the Executive’s devisee, legatee, or other designee, or if there is no such designee, to the Executive’s estate. 
 Article 12. Legal Fees and Notice 
 12.1 Payment of Legal Fees. To
the extent permitted by law, the Company shall pay all legal fees, costs of litigation, prejudgment interest, and other expenses incurred by Executive in contesting a termination, if Executive prevails. The Company shall also pay the reasonable
attorneys fees incurred by the Executive in the negotiation of this Agreement. The payment of such amounts shall be subject to the terms of Section 9(c). 
 12.2 Notice. Any notices, requests, demands, or other communications provided by this Agreement shall be sufficient if in writing and if sent by registered or certified mail to the Executive at the
last address he has filed in writing with the Company or, in the case of the Company, at its principal offices to the attention of the General Counsel. 
 Article 13. Confidentiality and Noncompetition 
 13.1 Disclosure of
Information. The Executive recognizes that he has access to and knowledge of confidential and proprietary information of the Company that is essential to the performance of his duties under this Agreement. 

(a) The Executive will not, during and for five years after the Term, in whole or in part, disclose such information to any person, firm,
corporation, association, or other entity for any reason or purpose whatsoever, nor shall he make use of any such information for his own purposes, so long as such information has not otherwise been disclosed to the public or is not otherwise in the
public domain except as required by law or pursuant to administrative or legal process. 
 13.2 Covenants Regarding Other
Employees. During the Term, and for a period of 12 months following the Executive’s termination of employment for any reason, the Executive agrees not to actively solicit any employee of the Company to terminate his or her employment with
the Company or to interfere in a similar manner with the business of the Company. 

  
 19 

 13.3 Noncompete Following a Termination of Employment. From the Effective Date of
this Agreement until six months following the Executive’s Effective Date of Termination for any reason, the Executive will not: (a) directly or indirectly own any equity or proprietary interest in (except for ownership of shares in a
publicly traded company not exceeding 3% of any class of outstanding securities), or be an employee, agent, director, advisor, or consultant to or for any competitor of the Company, whether on his own behalf or on behalf of any person; or
(b) undertake any action to induce or cause any customer or client to discontinue any part of its business with the Company. For the purposes of this Section 13.3, the words “competitor of the Company” shall mean a company that
is developing, marketing or selling a product that is directly competitive to the products being developed, marketed and sold by the Company. 
 13.4 Waiver of Covenants Upon a CIC. Upon the occurrence of a CIC, the Executive shall be released from each of the covenants set forth in Sections 13.2 and 13.3, if such Executive is terminated by
the Company without Cause or if the Executive terminates his employment with the Company for Good Reason. 
 Article 14.
Outplacement Assistance 
 14.1 Following a termination of employment, other than for Cause, the Executive shall be
reimbursed by the Company for the costs of all outplacement services obtained by the Executive within the one-year period after the Effective Date of Termination; provided, however, that the total reimbursement shall be limited to an
amount equal to $100,000. The provision of such outplacement services reimbursement shall be subject to the terms of Section 9(c). 
 Article 15. Miscellaneous 
 15.1 Entire Agreement. With the
exception of the Company’s Proprietary Information and Inventions Agreement previously executed by Executive, this Agreement supersedes any prior agreements, or understandings, oral or written, between the parties hereto or between the
Executive and the Company, with respect to the subject matter hereof, and constitutes the entire agreement of the parties with respect thereto. 
 15.2 Modification. This Agreement shall not be varied, altered, modified, canceled, changed, or in any way amended except by mutual agreement of the parties in a written instrument executed by the
parties hereto or their legal representatives. 
 15.3 Severability. In the event that any provision or portion of this
Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect. 

15.4 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original,
but all of which together will constitute one and the same Agreement. 

  
 20 

 15.5 Tax Withholding. The Company may withhold from any benefits payable under this
Agreement all federal, state, city, or other taxes as may be required pursuant to any law or governmental regulation or ruling. 

15.6 Beneficiaries. To the extend allowed by law, any payments or benefits hereunder due to the Executive at the time of his death
shall nonetheless be paid or provided and the Executive may designate one or more persons or entities as the primary and/or contingent beneficiaries of any amounts to be received under this Agreement. Such designation must be in the form of a signed
writing acceptable to the Board or the Board’s designee. The Executive may make or change such designation at any time. 

15.7 Restrictive Covenants. With the exception of the Company’s willful material breach of its payment obligations under
Articles 7 and 8 of this Agreement (provided, however, that no such breach shall be deemed to have occurred until the Executive has provided the Board with written notice of such breach and a reasonable opportunity for cure), the
restrictive covenants contained in Article 13 are independent of any other contractual obligations in this Agreement or otherwise owed by the Company to the Executive. Except as provided in this paragraph, the existence of any claim or cause of
action by Executive against the Company, whether based on this Agreement or otherwise, shall not create a defense to the enforcement by the Company of any restrictive covenant contained herein. 

15.8 The Executive shall not be obligated to seek other employment in mitigation of the amounts payable or arrangements made under any
provision of this Agreement, and the obtaining of any such other employment shall in no event effect any reduction of the Company’s obligations to make the payments and arrangements required to be made under this Agreement. 

15.9 Previous Obligations. 
 (a) Executive agrees and confirms that Executive’s acceptance of this Agreement and performance of his duties hereunder will not in any way require or place Executive in a position that may require
or potentially may require the use or disclosure of any third party’s trade secrets or proprietary information. 
 (b)
Executive confirms that Executive has disclosed to the Company all agreements Executive has with any third party that incorporate confidentiality restrictions or a covenant not to compete. 

(c) Executive believes that he is under no obligations to any third party, including any confidentiality agreements, covenants not
compete or the like, which will in any way restrict the Executive’s ability to perform his duties hereunder. 
 (d)
Executive agrees and confirms that in the event Executive is ever asked to participate in any activity or perform any job duties and responsibilities as an employee of the Company which the Executive believes may involve the utilization or
dissemination of information a third party has identified as its proprietary information or a trade secret or which may fall under a previously executed covenant not to compete, Executive will immediately notify the Chief Executive Officer and
General Counsel and will not undertake to participate in any activities which require or could possibly require Executive to utilize or rely upon such proprietary information or trade secret. 

  
 21 

 15.10 Review by Counsel. Prior to executing this Agreement, Executive agrees that he
has consulted with his attorney who represents his interests and who has fully and completely explained the terms and conditions of this Agreement and the obligations created herein. 

15.11 Director Resignation. In the event that the Executive is a member of the Board on the Effective Date of Termination,
Executive shall resign from the Board effective on the Effective Date of Termination. 
 15.12
Release. Notwithstanding anything to the contrary in this Agreement, the obligation of the Company to makes the payments or provide the benefits described in Sections 7.2(d)(2), 7.4(b)(1) through (3), 7.6(d)(1) through (3), or
Section 8.3(a), (b) or (e), and the right of Executive to receive such benefits, are subject to the obligation of the Executive to deliver an executed release in a reasonable and customary form (the “Release”) and any applicable
revocation period with respect to the Release expiring within 60 days following the Effective Date of Termination Date. The severance payments and benefits shall be paid or commence on the first payment date following the date on which the Release
becomes effective (the “Payment Date”). Notwithstanding the foregoing, if the 60th day following the date of termination occurs in the calendar year following the year of termination, then the Payment Date shall be no earlier than January 1 of such subsequent calendar year.

 Article 16. Governing Law 
 16.1 To the extent not preempted by federal law, the provisions of this Agreement shall be construed and enforced in accordance with the laws of the state of New Jersey. 

IN WITNESS WHEREOF, the Company, through its duly authorized representative, and the Executive have executed this Agreement as of the
Effective Date. 
  

			
	Executive:
	
	 /s/    Kenneth M. Bahrt

	 Kenneth M. Bahrt, M.D., FACR

	
	 Company:

	
	 Savient Pharmaceuticals, Inc.

		
	By:	 	 /s/    John H. Johnson

		 	 John H. Johnson

		 	 Chief Executive Officer

  
 22Service Agreement

 Exhibit 10.37 
 DATED: 11 JANUARY 2012 
 (1)    SAVIENT PHARMA IRELAND LIMITED

 (2)    DAVID VEITCH 
 SERVICE AGREEMENT 

 SERVICE AGREEMENT DATED 
 11 JANUARY 2012
 BETWEEN: 

 

	1	PARTIES 

  

	(1)	SAVIENT PHARMA IRELAND LIMITED of Mespil Business Centre, Mespil House, Sussex Road, Dublin 4, Republic of Ireland (registered with the Irish Companies
Registration Office under number 492194) (‘the Company’) 

  

	(2)	DAVID VEITCH of Hamilton Lodge, 6 Shillingridge Park, Frieth Road, Marlow, Bucks, SL7 2QX (‘the Executive’) 

 

	2	INTERPRETATION 

  

	2.1	In this Agreement, unless the context otherwise requires - 

 ‘Beneficial Owner’ has the meaning set out in Rule 13d-3 of the United States’ Securities Exchange Act; 
 ‘the Board’ means the board of directors of the Company for the time being; 
 ‘the Commencement Date’ means 16 January 2012; 

‘Common Stock’ means the common stock of the Parent, US$0.01 per value per share; 

‘the Group’ means the Company, any holding company and any subsidiary company (from time to time) of the Company and any
subsidiary of any such holding company and “Group Company” shall be construed accordingly. The expressions holding company and subsidiary in relation to a company mean a “holding company” and
“subsidiary” as defined in section 1159 of the Companies Act 2006 and a company shall be treated, for the purposes only of the membership requirement contained in subsections 1159(1)(b) and (c), as a member of another company even if its
shares in 

  
 PAGE 2

 
that other company are registered in the name of (a) another person (or its nominee), whether by way of security or in connection with the taking of security, or (b) its nominee;

 ‘the Parent’ means Savient Pharmaceuticals, Inc.; 

‘the Parent’s Board’ means the board of directors of the Parent for the time being; 

‘Person’, for the purposes of clause 15, shall have the meaning ascribed to such term in section 3(a)(9) of the United
States’ Securities Exchange Act and used in sections 13(d) and 14(d) thereof, including a ‘group’ as defined in section 13(d) thereof; and 
 ‘the Plan’ means the Parent’s 2011 Incentive Plan (as amended or replaced from time to time). 
  

	2.2	Any reference to a statutory provision is a reference to that provision as for the time being re-enacted, amended, modified or extended.

  

	2.3	The headings in this Agreement are for convenience only and shall not affect its interpretation. 

 

	2.4	References to the employment of the Executive are to his employment by the Company whether or not during the continuance of this Agreement.

  

	2.5	Except for the purposes of clause 15 hereof, a ‘person’ shall include any company, corporation, firm, partnership, joint venture, unincorporated
association, organisation or trust (in each case whether or not having separate legal personality) and references to any of the same shall include a reference to each of them. 

 

	2.6	The masculine gender shall include the feminine and neuter and the single shall include the plural and vice versa. 

 

	2.7	‘Writing’ or ‘written’ shall include any means of visible reproduction. 

  
 PAGE 3

	3	APPOINTMENT OF THE EXECUTIVE 

  

	3.1	The Company shall employ the Executive and the Executive shall serve the Company as President of the Company or in such other related capacity as the Company
reasonably shall direct. 

  

	3.2	The employment of the Executive under this Agreement will begin on the Commencement Date (that date being the date of commencement of the Executive’s
continuous employment) and shall (subject as hereinafter provided) continue until this Agreement shall be terminated by either party giving to the other not less than 12 (twelve) calendar months’ written notice of termination.

  

	3.3	The Executive warrants that: 

  

	 	(a)	as at the Commencement Date, other than as previously disclosed to the Company by the Executive, he shall not be subject to any ongoing obligations of any kind
to any current or previous employer; and 

  

	 	(b)	by entering into this Agreement and performing his obligations under it, he will not be in breach of any terms or obligations under any previous or other
agreement relating to his employment with any third party. 

  

	3.4	The Executive warrants that he is: 

  

	 	(a)	entitled to work in the United Kingdom and the Republic of Ireland without any additional approvals; and 

 

	 	(b)	not subject to any travel restrictions which may affect his ability to travel outside the United Kingdom in pursuance of his duties, 

and will notify the Company immediately if either of the above circumstances change during his employment. 

 

	3.5	The Executive shall comply with any rules, policies and procedures of the Company from time to time in force. These policies and procedures do not form part of
this Agreement and the Company may amend them at any time. To the extent that there is any conflict between the terms of this Agreement and such policies and procedures, this Agreement shall prevail. 

  
 PAGE 4

	4	DUTIES OF THE EXECUTIVE 

  

	4.1	In the capacity specified in clause 3.1 the Executive shall during the continuance of this Agreement - 

 

	 	(a)	hold such offices as a director or secretary in any Group Company as the Board may from time to time require; 

 

	 	(b)	(if the Board so requests) immediately resign without claim for compensation from any office held in any Group Company; 

 

	 	(c)	not to do anything that would cause him to be disqualified from holding any office; 

 

	 	(d)	abide by any statutory, fiduciary or common-law duties to any Group Company of which he is a director; 

 

	 	(e)	faithfully, diligently and competently exercise and carry out to the best of his ability all such powers and duties in relation to the Company and its business
and the respective businesses of the other Group Companies, as may from time to time be conferred on him or vested in him by the Board and/or the Parent’s Board and shall obey the reasonable and lawful directions by or under the authority of
the Board and/or the Parent’s Board and shall at all times use his reasonable endeavours to promote and further the business and interests of the Company and the other Group Companies; 

 

	 	(f)	subject as hereinafter provided unless prevented by incapacity, illness or injury or with the prior agreement of the Board, devote, during normal working hours
and such additional times as provided for at clause 4.8 below, the whole of his time, attention and skill to his duties and to the furtherance of the businesses and interests of the Company and the other Group Companies; 

  
 PAGE 5

	 	(g)	in pursuance of his duties hereunder perform without additional remuneration such services for any other Group Company as the Board and/or the Parent’s
Board may from time to time reasonably require; 

  

	 	(h)	serve the Company and/or any other Group Company at its or their principal places of business or at such other place or places within the United Kingdom and
abroad (in particular, but without limitation, the Republic of Ireland) the Board and/or the Parent’s Board shall reasonably determine; 

  

	 	(i)	undertake such travel both within the United Kingdom and abroad as may be reasonably necessary for the proper performance of his duties;

  

	 	(j)	report his own wrongdoing and any wrongdoing or proposed wrongdoing of any other employee or director of the Company or any other Group Company (including
without limitation any bribery or corruption) to the Board immediately on becoming aware of it; 

  

	 	(k)	consent to the Company monitoring and recording any use that he makes of the Company’s electronic communications systems for the purpose of ensuring that
the Company’s rules are being complied with and for legitimate business purposes; and 

  

	 	(l)	comply with any electronic communication systems policy that the Company may issue from time to time. 

 

	4.2	The Executive shall not at any time during the continuance of the Executive’s employment under this Agreement do anything which may in the opinion of the
Board bring the Company or any other Group Company into disrepute or harm the goodwill or the reputation of any Group Company and in particular but without limitation, the Executive will not make any untrue, misleading or disparaging statement in
relation to the Company or any other Group Company (or any of its or their employees or officers) nor after the termination of this Agreement represent himself as being employed by or connected with the Company or any other Group Company.

  
 PAGE 6

	4.3	The Executive shall not at any time during the continuance of the Executive’s employment under this Agreement without the previous written consent of the
Board either as principal, employee or agent carry on or be engaged, concerned or interested either directly or indirectly in any other trade, profession, business or occupation (including any public or private activity which in the reasonable
opinion of the Board may interfere with the proper performance of his duties) or hold any directorship or other office in any company or other body whether incorporated or unincorporated. 

 

	4.4	Without prejudice to the generality of clause 4.3, the Executive shall not during the continuance of the Executive’s employment under this Agreement
introduce to any other person, firm or corporation, business of a kind in which the Company or any other Group Company is for the time being engaged or capable of becoming engaged or with which the Company or any other Group Company is able to deal
in the course of the business for the time being carried on or planned to be carried on and he shall not have any financial benefit from contracts made by the Company with any third party (including but not limited to any supplier to any Group
Company) without the prior written consent of the Board. 

  

	4.5	The Executive shall at all times give to the Board, the Parent’s Board and to the Company’s (and any other Group Company’s) auditors for the time
being all such information, explanations, data and assistance as they may require in connection with the Company’s (or any other Group Company’s) business. 

 

	4.6	During the continuance of the Executive’s employment under this Agreement, the Executive shall not hold any shares or securities or have any interest of any kind
in any company (other than the Company or any other Group Company) or other business organisation, save that the Executive may hold not more than five per cent of the issued shares or other securities of any class of any one company which is not a
competitor of the Company or any other Group Company, where such shares or other securities are listed or dealt in on a recognised investment exchange in the United Kingdom or elsewhere, and are to be held by the Executive for investment
purposes only. 

  
 PAGE 7

	4.7	The Executive shall avoid situations where the Executive’s personal interests conflict with the interests of the Company or any other Group Company or any of its
or their customers. If the Executive believes that any such conflict of interest may exist, the Executive shall disclose the same to the Board without delay. The Executive shall not accept (and shall use his best endeavours to procure that the
members of his family shall not accept) any gift or favour, honoraria, loans, fees, services or entertainment of whatever kind of significant value from any customer or supplier of the Company or any other Group Company or any prospective customer
or supplier of the Company or any other Group Company. 

  

	4.8	The Executive’s normal working hours shall be 9.00 am to 5.30 pm Monday to Friday together with such additional hours as are reasonable and necessary for
the proper performance of his duties (it being anticipated that the performance of his duties may require the Executive to work outside the Company’s normal business hours and the Executive acknowledges that he has no entitlement to additional
remuneration for such further hours worked in excess of the Company’s normal business hours). 

  

	4.9	Due to the autonomous nature of the Executive’s role, the duration of his working time cannot be measured or monitored and, accordingly, the
Executive’s employment falls within regulation 20 of the Working Time Regulations 1998. 

  

	5	REMUNERATION AND EXPENSES 

  

	5.1	During the continuance of the Executive’s employment under this Agreement the Company shall pay to the Executive, as remuneration for his services
hereunder, a salary at the rate of £258,000 per annum as from the Commencement Date. 

  

	5.2	The Executive’s salary shall be - 

  

	 	(a)	 payable by equal monthly instalments in arrears on or around the 30th day of each month or such other time as shall be notified to him in accordance with the normal payroll practices of
the Company operated from time to time by credit transfer direct into his bank account; 

  

	 	(b)	deemed to accrue from day to day; and 

  
 PAGE 8

	 	(c)	reviewed on an annual basis, with the first review to take place as part of the Company’s year-end 2012 performance review cycle (the Executive’s
salary may be increased, decreased or may remain the same following any such review). 

  

	5.3	The Executive shall be eligible to participate in the Company’s bonus scheme, subject to the rules of such scheme from time to time in force and shall have
a target bonus of fifty percent (50%) of his basic annual salary as set out in clause 5.1 or as varied from time to time. The Company reserves the right, at its sole and absolute discretion, to amend or withdraw (either in full or in part) such
scheme and/or to cease the Executive’s participation in such scheme at any time. 

  

	5.4	The Executive shall be awarded the following stock options under the Plan within 14 days of receipt from HM Revenue and Customs of a decision as to whether the
Plan (to the extent to which it relates to UK residents) is approved. 

  

	 	(a)	Time-Based Stock Option. A stock option to purchase 162,500 shares of common stock of the Parent, with an exercise price equal to the closing
price of the Parent’s common stock on the date of grant, a ten year term, and which will vest and become exercisable as to 25% on the first anniversary of the Commencement Date, as to an additional 6.25% at the end of each successive
three-month period following the first anniversary of the Commencement Date up to a 100% maximum; and 

  

	 	(b)	Performance-Based Stock Options. A stock option to purchase 162,500 shares of common stock of the Parent, with an exercise price equal to the closing
price of the Parent’s common stock on the date of grant, a ten year term, and which will vest and become exercisable upon the satisfaction of the performance conditions to be set by the Parent following discussions between the Executive and the
Parent’s Board. 

  

	5.5	The Company shall reimburse the Executive for all reasonable travelling, hotel and other out-of-pocket expenses which he may properly incur in the carrying out
of his duties and which the Company may approve. The Executive’s entitlement to reimbursement of any expense in accordance with this clause shall be conditional upon the Executive providing the Company with receipts or other evidence
satisfactory to the Company that the Executive has properly incurred that expense. 

  
 PAGE 9

	5.6	For the purposes of Part II of the Employment Rights Act 1996, the Executive hereby authorises the Company to deduct from his salary, or any other sums due
to him from the Company, any sums due from the Executive to the Company, including without limitation any overpayment of salary or accrued holiday pay. 

  

	5.7	The Company shall be entitled to perform any of its obligations under this clause either by itself or through any other Group Company. 

 

	6	PENSION AND INSURANCES 

  

	6.1	Upon establishment by the Company, the Executive shall be entitled to participate in such of the pension, private health insurance, permanent health insurance
and life assurance arrangements (up to the relevant HM Revenue & Customs maximum) as the Board may determine from time to time subject to the terms of such arrangements for the time being in force. 

 

	6.2	 Upon establishment by the Company of its pension arrangements as described in clause 6.1 above, the Company shall, during the Executive’s
employment hereunder, make a contribution of 1/12th of 6%
of his basic annual salary each month into a pension scheme for the benefit of the Executive. Until such time as the Company’s pension arrangements are established, the Company shall make a payment to the Executive of 1/12th of 6% of the Executive’s basic annual salary each month in lieu
of employer pension contributions. 

  

	6.3	The Company may at any time withdraw any private health insurance, permanent health insurance and life assurance arrangements without providing any replacement
for them. The Executive acknowledges that as the benefits will be insured arrangements, the payment of any benefit is subject to the discretion of the insurers and subject to the terms and conditions of the respective scheme. The Company has no
obligation to assist the Executive in the advancement of any claim he may make, nor any obligation to make any payment to the Executive should the insurer refuse to pay for whatever reason. 

  
 PAGE 10

	6.4	It is acknowledged by the parties that, at the date of this Agreement, the Company has not established a pension plan, private health insurance plan, permanent
health insurance or life assurance arrangements for the benefit of its employees. Accordingly, the Executive shall be paid £2,000 per month (on an after-tax basis) to secure private medical insurance coverage for Executive and his family
until such time as the Company shall provide the Executive access to private medical insurance arrangements offered by the Company to its employees. 

  

	6.5	The Company shall be entitled to perform any of its obligations under clause 6 either by itself or through any other Group Company. 

 

	7	HOLIDAYS 

  

	7.1	The Executive shall entitled, in addition to the normal public and Bank holidays in England and Wales and Company holidays adopted by the Board from time to
time, to 25 working days’ paid holiday in each calendar year to be taken at such times as the Board may approve. 

  

	7.2	The Executive shall be entitled to carry forward up to 10 days’ unused holiday entitlement from any calendar year to any subsequent calendar year. Such
carried forward holiday entitlement shall expire at the end of the calendar year into which it is carried over if it remains unused at that time. 

  

	7.3	If the employment of the Executive shall terminate before he has taken his full accrued entitlement to holidays for that year, he shall be entitled to accrued
holiday pay of one day’s salary (calculated at a daily rate of 1/260ths of the Executive’s annual salary) for each complete day of such entitlement not taken and accrued due at such termination (his accrued entitlement to holidays being
deemed for this purpose to accrue from day to day). 

  

	7.4	If the employment of the Executive shall terminate and the Executive has taken more holidays than his accrued entitlement for the year in which such termination
occurs, the Company shall be entitled to make a commensurate deduction from any final payment (whether of salary, expenses or otherwise) to be made to the Executive. 

  
 PAGE 11

	7.5	If either party gives notice to terminate the Executive’s employment the Board may require the Executive to take any accrued but unused holiday entitlement
during the notice period (whether or not the Executive is on Garden Leave). 

  

	7.6	During any continuous period of absence due to sickness or injury which prevents the Executive from carrying out his duties of one month or more the Executive
shall not accrue holiday under this Agreement and the Executive’s entitlement under clause 7.1 for the holiday year in which such absence takes place shall be reduced pro rata save that it shall not fall below the Executive’s entitlement
under the Working Time Regulations 1998. 

  

	8	SICKNESS AND MEDICAL EXAMINATION 

  

	8.1	If the Executive shall at any time be incapacitated or prevented by sickness, injury, accident or any other circumstances beyond his control (hereinafter
referred to as ‘incapacity’) from carrying out in full his duties under this Agreement, he shall notify the Board as early as possible on the first day of such incapacity and he shall provide the Company with a completed Company
self-certification form to cover any absence of four days or more and if his absence continues for seven days or more he shall provide the Company with a ‘Statement of fitness for work’ within seven days of the end of the first week of
absence and during his continued absence thereafter he shall provide a further certificate each week. 

  

	8.2	The Executive shall be entitled to such Statutory Sick Pay as the Company is obliged by law to pay to the Executive from time to time. The Executive shall have
no entitlement to sick pay other than Statutory Sick Pay. However, at the Company’s sole and absolute discretion and subject to the Executive complying with the requirements of clause 8.1, the Company may continue to pay the Executive his
salary for up to a maximum three months at full rate and up to three months at half-rate in any rolling period of 52 weeks, which shall satisfy any entitlement of the Executive to receive Statutory Sick Pay (“SSP”) from the Company during
that period. 

  

	8.3	The Board may at its discretion require the Executive to- 

  
 PAGE 12

	 	(a)	provide evidence, satisfactory to the Board, of any sickness, injury or incapacity of the Executive; 

 

	 	(b)	provide the Company with medical evidence of his fitness to return to work after any period of absence from work due to incapacity; and 

 

	 	(c)	from time to time to undergo a medical examination by a medical practitioner nominated by the Company; the Company bearing the cost of any such examination and
being entitled to full disclosure of the results thereof. 

  

	8.4	If at any time during the employment the Executive suffers from incapacity which is or appears to be occasioned by actionable negligence of a third party in
respect of which damages are or may be recoverable the Executive shall- 

  

	 	(a)	forthwith notify the Board of that fact and of any claim, compromise settlement or judgment made or awarded in connection therewith and shall give to the Board
all such particulars of such matters as the Board may reasonably require and shall refund to the Company such sum (not exceeding the amount of damages recovered by him under such compromise, settlement or judgment less any costs in or in connection
with or under such claim, compromise, settlement or judgment borne by the Executive and not exceeding the aggregate of the remuneration paid to him by way of salary and bonus in respect of the period of incapacity) as the Board may determine; and

  

	 	(b)	use all reasonable endeavours to recover damages for loss of earnings over the period for which salary has been or shall be paid to the Executive, keeping the
Company informed of the commencement, progress and outcome of any such claim and shall account to the Company for any such damages recovered (net of the reasonable costs of recovery and an amount not exceeding the actual salary paid or payable to
the Executive in respect of such period) less any costs borne by the Executive in achieving such recovery. 

  
 PAGE 13

	9	CONFIDENTIALITY 

  

	9.1	In this Agreement unless the context otherwise requires, ‘Confidential Information’ means any and all of: the trade secrets and any secret or
confidential information concerning the organisation, business, finances, management systems, maturing new business opportunities, operations, processes, research and development projects, business methods, dealings, transactions or affairs of the
Company or of any other Group Company or any secret or confidential information concerning its customers (including but not limited to customer lists) and their requirements, as to suppliers and other persons with which the Company or any other
Group Company has dealings, terms of business with customers and suppliers, or as to the nature and origin of services provided, marketed or sold or obtained by the Company or any other Group Company and any marketing (including but not limited to
the marketing or sales of any past, present or future product or service of the Company or of any other Group Company including, without limitation, sales targets and statistics, market share and pricing statistics, marketing surveys and plans,
market research reports, sales techniques, price lists, pricing policies, discount structures, advertising and promotional material), development or staffing plans of the Company or other Group Company and any information which has been given to the
Company or other Group Company in confidence by any customer, supplier or other person, whether any such trade secrets or any such information is in oral, written or any other form. 

 

	9.2	The Executive shall not either during the continuance of his employment under this Agreement or at any time after its termination (without limitation in time)-

  

	 	(a)	use, divulge or reveal to any person, firm or corporation, any Confidential Information which may come to his knowledge during his employment hereunder; or

  

	 	(b)	use or attempt to use any Confidential Information for the Executive’s own purposes or for any purposes other than the purposes of the Company or any other
Group Company or in any manner which may injure or cause loss either directly or indirectly to the Company or any other Group Company or its or their business or may be likely so to do; or 

  
 PAGE 14

	 	(c)	through any failure to exercise reasonable care and diligence, cause or bring about any unauthorised disclosure of any Confidential Information that he shall
come to know or have received or obtained at any time (before or after the date of this Agreement). 

  

	9.3	The Executive shall- 

  

	 	(a)	use all reasonable endeavours to prevent the disclosure of any Confidential Information; and 

 

	 	(b)	keep with complete secrecy all Confidential Information entrusted to him. 

 

	9.4	This clause shall not apply to information which- 

  

	 	(a)	is used or disclosed in the proper performance of the Executive’s duties or with the prior written consent of the Company; 

 

	 	(b)	is or comes to be into the public domain (except as a result of a breach of the Executive’s obligations under clause 9.2); 

 

	 	(c)	is ordered to be disclosed by a court of competent jurisdiction or otherwise required to be disclosed by law; or 

 

	 	(d)	constitutes a protected disclosure within the meaning of section 43A of the Employment Rights Act 1996. 

 

	9.5	The Executive shall promptly disclose to the Company any information which comes into his possession which affects adversely or may affect adversely the Company
or any other Group Company or the business of the Company or any other Group Company. Such information shall include (but shall not be limited to)- 

  

	 	(i)	the plans of any employee to leave the Company or any other Group Company (whether alone or in concert with other employees); 

  
 PAGE 15

	 	(ii)	the plans of any employee (whether alone or in concert with other employees) to join a competitor or to establish or operate a business in competition with the
Company or any other Group Company; 

  

	 	(iii)	any steps taken by the employee to implement either of such plans; and/or 

 

	 	(iv)	the misuse by any employee of any Confidential Information belonging to the Company or any other Group Company. 

 

	9.6	All notes, memoranda, records, lists of customers and suppliers and employees, correspondence, documents, computer and other discs and tapes, data listing,
codes, and other documents and material whatsoever (whether made or created by the Executive or otherwise and whether or not containing Confidential Information) relating to the business of the Company or any other Group Company (and any copies of
the same) - 

  

	 	(a)	shall be and remain at all times during the period of the Executive’s employment hereunder and after its termination the property of the Company or any
other Group Company (as the case may be); and 

  

	 	(b)	shall be handed over and delivered by the Executive to the Company (or to such other Group Company as the case may require) on demand and in any event on the
termination of the Executive’s employment hereunder and the Executive will provide to the Company on request a statement that the Executive has complied with these requirements. 

 

	9.7	This clause shall continue to apply after the termination of the Executive’s employment hereunder (whether terminated lawfully or not) without limit in
time. 

  

	10	INTELLECTUAL PROPERTY 

  

	10.1	 In this clause ‘Intellectual Property Right’ means a formula, process, invention, utility model, trade mark, service mark,
business name, copyright, design right, patent, know-how, trade secret and any other intellectual property right of any nature whatsoever throughout the world (whether registered or unregistered and including all

  
 PAGE 16

	 	
applications and rights to apply for the same) which is invented, developed, created or acquired by the Executive (whether alone or jointly with any other person) during the course of his duties
during his employment hereunder. 

  

	10.2	Subject to the provisions of the Patents Act 1977, the Registered Designs Act 1949 and the Copyright Designs and Patents Act 1988, the entire interest of the
Executive in any Intellectual Property Right above, shall, as between the Executive and the Company or any other Group Company, become the property of the Company or any other Group Company (as the case may be) as absolute beneficial owner without
any payment to the Executive for it. 

  

	10.3	The Executive shall promptly communicate in confidence to the Company full particulars of any Intellectual Property Right and the Executive shall not use,
disclose to any person or exploit any Intellectual Property Right belonging to any Group Company without the prior written consent of the Company and shall, at the request and expense of the Company, prepare and execute such instruments and do such
other acts and things as may be necessary or desirable to enable any Group Company or its nominee to obtain and maintain protection of any Intellectual Property Right vested in any Group Company in such parts of the world as may be specified by the
Group Company or its nominee and to enable any Group Company to exploit any Intellectual Property Right vested in such Group Company to best advantage. 

  

	10.4	The Executive hereby irrevocably- 

  

	 	(a)	appoints the Company to be his attorney in his name and on his behalf to sign, execute or do any instrument or act and generally to use his name for the purpose
of giving to the Company (or any other Group Company, as the case may be) or its or their nominee the full benefit of the provisions of this clause; and 

  

	 	(b)	unconditionally waives any and all of his moral rights (conferred by Chapter IV of the Copyright Designs and Patents Act 1988). 

 

	10.5	The obligations of the Executive under this clause shall continue to apply after the termination of his employment hereunder (whether terminated lawfully or
not). Each of those obligations is enforceable independently of each of the others and its validity shall not be affected if any of the others is unenforceable to any extent. 

  
 PAGE 17

	11	DIRECTORSHIP 

  

	11.1	Except with the prior approval of the Board, or as provided in the articles of association (or relevant equivalent) of the Company or any other Group Company of
which he is a director, the Executive shall not resign as a director of the Company or any other Group Company. 

  

	11.2	If during the Executive’s employment hereunder, the Executive ceases to be a director of the Company or any other Group Company (otherwise than by reason of
his death, resignation or disqualification) pursuant to the articles of association (or relevant equivalent) of the Company or another relevant Group Company, as amended from time to time, or by statute or court order) the Executive’s
employment hereunder shall continue as an employee only and the terms of this Agreement (other than those relating to the holding of the office of director) shall continue in full force and effect. The Executive shall have no claims in respect of
such cessation of office. 

  

	12	TERMINATION 

  

	12.1	The Company may (without prejudice to and in addition to any other remedy) forthwith terminate this Agreement without prior notice or payment in lieu thereof if
the Executive- 

  

	 	(a)	is disqualified from acting as a director or resigns as a director of the Company or any other Group Company without the prior written approval of the Board;

  

	 	(b)	is guilty of gross misconduct (meaning misconduct involving, in the reasonable opinion of the Board, a breach of the relationship of trust and confidence with
the Company by the Executive) during the course of his employment or if he misconducts himself outside the course of his employment in such a manner that in the reasonable opinion of the Board, the interests of the Company or of any one or more of
the other Group Companies are likely to be prejudicially affected; 

  
 PAGE 18

	 	(c)	commits any serious or persistent breach of, or seriously or persistently fails to observe, any of the terms, conditions or stipulations contained in this
Agreement; 

  

	 	(d)	without reasonable cause neglects or refuses to perform all or any of his duties under this Agreement or is guilty of serious or persistent negligence or
incompetence; 

  

	 	(e)	becomes bankrupt or applies for a receiving order or has a receiving order made against him or enters into any arrangement or composition with his creditors;

  

	 	(f)	becomes of unsound mind or a patient within the meaning of any United Kingdom statute relating to mental health; 

 

	 	(g)	ceases to be eligible to work in the United Kingdom or the EEA; or 

  

	 	(h)	is convicted of any criminal offence (other than an offence under the road traffic acts for which a penalty of imprisonment is not imposed or an offence which in
the reasonable opinion of the Board does not affect his employment hereunder or bring the Company into disrepute). 

Any reasonable delay by the Company in exercising such right to terminate shall not constitute a waiver thereof. 

 

	12.2	Upon the termination of this Agreement under clause 12.1, the Executive shall be paid his salary accrued to the date of termination, together with any
entitlement to be paid for accrued but untaken holidays at the date of termination (as provided for in clause 7.3), but he shall not be entitled to any other payment or compensation whatsoever in respect of such termination.

  

	12.3	If the Executive is incapacitated by illness, injury or otherwise from properly performing his duties under this Agreement either for at least 120 consecutive
days or for a total of at least 140 days in any period of 365 days, the Company shall be entitled to terminate the employment of the Executive by giving the Executive notice of the minimum period required by law plus a further period of one week.

  
 PAGE 19

	12.4	On the termination of the Executive’s employment for any reason and howsoever arising - 

 

	 	(a)	the Executive shall immediately resign, without any claim for compensation, from any directorships in the Company and any other Group Company;

  

	 	(b)	the Company shall be entitled to deduct from any moneys then due or thereafter becoming due from the Company to the Executive any moneys which may then be due or
thereafter become due from the Executive to the Company; 

  

	 	(c)	any provision of this Agreement which is expressed to have effect after its termination shall nevertheless continue in force in accordance with its terms; and

  

	 	(d)	the Executive shall not take away, conceal or destroy but shall forthwith deliver up to the Company all documents and other items of property which may be in his
possession or under his control which belong to the Company or which relate in any way to the business of any Group Company (and the Executive shall not be entitled to retain copies of the same). 

 

	12.5	The Executive hereby irrevocably appoints the Company to be his attorney to execute and do any such instrument or thing and generally to use his name for the
purpose of giving the Company or its nominee the full benefit of clauses 4.1(b) and 12.4(a). 

  

	13	PAYMENT IN LIEU OF NOTICE 

  

	13.1	Without prejudice to clause 3.2 above, where notice is given to terminate the Executive’s employment by either party or if either the Executive or the
Company otherwise purports to terminate the Executive’s employment, the Company may (at the sole and absolute discretion of the Board) terminate the employment at any time and with immediate effect by making the Executive a payment in lieu of
the notice period (or, if applicable, the remainder of the notice period) equivalent to the Executive’s basic salary (at the date of the termination), plus the equivalent of a further £2,000 per month on an after tax basis, for the
notice period (or remainder of the notice period). 

  
 PAGE 20

	13.2	The Company may pay any sums due under clause 13.1 as one lump sum or in instalments over the period until the expiry, if it had been served, of the notice
period. Such payments will be subject to income tax and national insurance contributions. 

  

	13.3	For the avoidance of doubt- 

  

	 	(a)	if the Company terminates the Executive’s employment in breach of this Agreement any entitlement to damages for breach of contract will be assessed on the
normal common law principles (including the Executive’s obligation to mitigate his loss); and 

  

	 	(b)	the right of the Company to terminate the Executive’s employment by making a payment in lieu of notice does not give rise to any right for the Executive to
receive such a payment in a lump sum, but shall not prejudice the Executive’s right to receive the monies due for the notice period. 

  

	14	GARDEN LEAVE 

  

	14.1	Notwithstanding any other provision of this Agreement, if notice is given by either party to terminate the employment of the Executive in accordance with clause
3.2, or if the Executive seeks to or indicates an intention to resign as an employee of the Company or terminate his Employment without notice the Company shall not be under any obligation to provide the Executive with any work and the Company may
at any time during such notice period at its absolute discretion suspend the Executive and to exclude him from all or any premises of the Company and/or any other Group Company and prohibit him from communicating with any customer or client or
prospective customer or client or employee or agent of the Company or any other Group Company provided that throughout such period of suspension - 

  

	 	(a)	the Executive’s salary and all other contractual benefits shall continue to be paid or provided by the Company; 

 

	 	(b)	the Executive shall, in addition to the duties of fidelity and good faith to which he is subject by law, continue to comply with his obligations under clauses
4.2 to 4.7 inclusive and observe all obligations of confidentiality arising under the provisions of this Agreement; 

  
 PAGE 21

	 	(c)	the Executive shall not have any contact or communication with any client or customer, employee, officer, director, agent or consultant of the Company or any
other Group Company except for purely social purposes only or with the prior written consent of the Board; 

  

	 	(d)	the Company shall be entitled to require the Executive to perform work at home in relation to matters of which he has knowledge or which fall within his
competence; 

  

	 	(e)	the Executive shall keep the Board informed of his whereabouts (except in periods taken as holiday) so that he can be called upon to perform any appropriate
duties as requested by the Board; 

  

	 	(f)	the Company shall be entitled to alter the Executive’s duties, compatible with the Executive’s seniority and position; 

 

	 	(g)	if the Board so requires, comply with his obligations under clause 12.4; and 

 

	 	(h)	the Executive shall be required to take any accrued or accruing holiday (without being required to notify the Company as to which days are required to be taken
as holiday, provided the Executive remains contactable on his mobile telephone (the telephone number of which shall have been supplied to the Company)) and this clause is notice to the Executive pursuant to Regulation 15(3) of the Working Time
Regulations 1998 that holiday is to be taken during this period. 

  

	14.2	If the Company exercises its rights under clause 14.1, the Executive shall refer to the Company forthwith any communications in whatever form received by him
from any client or customer of the Company or any other Group Company. 

  
 PAGE 22

	15	CHANGE IN CONTROL 

  

	15.1	The notice required to be given by the Company to terminate the Executive’s employment pursuant to clause 3.2 hereof shall (subject as otherwise provided in
this Agreement) be increased to 18 (eighteen) months on the occurrence of the following- 

  

	 	(a)	any consolidation or merger in which the Parent is not a continuing or surviving entity or pursuant to which shares of the Common Stock would be converted into
cash, securities, or other property, other than (i) a merger of the Parent in which the holders of the Common Stock immediately prior to the merger have the same proportionate ownership of common stock of the surviving corporation immediately
after the merger, or (ii) a consolidation or merger which would result in the voting securities of the Parent outstanding immediately prior thereto continuing to represent (by being converted into voting securities of the continuing or
surviving entity) more than 50% of the combined voting power of the voting securities of the continuing or surviving entity immediately after such consolidation or merger and which would result in the members of the Parent’s Board immediately
prior to such consolidation or merger (including for this purpose any individuals whose election or nomination for election was approved by a vote of at least two-thirds of such members) constituting a majority of the Parent’s Board (or
equivalent governing body) of the continuing or surviving entity immediately after such consolidation or merger; 

  

	 	(b)	any sale, lease exchange, or other transfer (in one transaction or a series of related transactions) of all or substantially all the Parent’s assets;

  

	 	(c)	the Parent’s stockholders approving any plan or proposal for the liquidation or dissolution of the Parent; 

 

	 	(d)	any Person becoming the Beneficial Owner of 40% or more of the Common Stock other than pursuant to a plan or arrangement entered into between such Person and the
Parent; or 

  
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	 	(e)	during any period of two consecutive years, individuals who at the beginning of such period constitute the entire Parent’s Board shall cease for any reason
to constitute a majority of the Parent’s Board unless the election or nomination for election by the Parent’s stockholders of each new director was approved by a vote of at least two-thirds of the directors then still in office who were
directors at the beginning of the period. 

  

	15.2	The notice required to be given by the Company to terminate the Executive’s employment shall (subject as otherwise provided in this Agreement) revert to 12
(twelve) months on the first anniversary of the date of the announcement of the transaction which leads to the occurrence of any of the events referred to at clauses 15.1(a) to 15.1(e) above and which caused the notice period to be increased to 18
months in accordance with clause 15.1 above. 

  

	16	COMPETITION 

 For the
purposes of this clause 16- 
 ‘Client’ means any person, firm, company or any other legal entity who is or who
has been within the period of twelve months prior to the Termination Date a client or customer of or in the habit of dealing with the Company or any other Group Company; 
 ‘Confidential Information’ has the meaning set out in clause 9.1 of this Agreement; 
 ‘Prospective Client’ means any person, firm or company or any other legal entity to whom the Company or any other Group Company, during the twelve months prior to the Termination Date,
shall have had negotiations or discussions for the supply or provision of goods or services supplied or provided by the Company or any other Group Company; 
 ‘Restricted Business’ means the business or activities of a kind carried on by the Company or any other Group Company at the Termination Date in which the Executive has been directly
concerned at any time during the twelve months prior to the Termination Date; and 

  
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 ‘Termination Date’ means the date upon which the Executive’s
employment pursuant to this Agreement shall terminate for whatever reason. 
  

	16.1	For the period of six months following the Termination Date in the case of clauses 16.1(a) and 16.1(b) and twelve months following the Termination Date in the
case of clauses 16.1(c), 16.1(d), 16.1(e), 16.1(f) and 16.1(g) (in each case, less any time the Executive may have been required to spend on garden leave pursuant to clause 14 hereof), the Executive shall not, without the Company’s prior
written consent, directly or indirectly- 

  

	 	(a)	set up on his own behalf or otherwise control any business engaged in, or which is intended to be engaged in, a Restricted Business; 

 

	 	(b)	take up any employment in or consultancy with or render services to or otherwise be engaged, concerned or interested in (whether as principal, servant, agent,
consultant or otherwise) any business which is in competition with the Restricted Business; 

  

	 	(c)	whether on his own account or for any other person, firm, company or any other legal entity, in competition with the Restricted Business, seek to solicit or
endeavour to entice away from the Company or any other Group Company, the custom of any Client with whom the Executive had personal dealings in the course of his employment at any time during the twelve months prior to the Termination Date or in
respect of whom the Executive had knowledge of Confidential Information; 

  

	 	(d)	whether on his own account or for any other person, firm, company or other legal entity, in competition with the Restricted Business, do any business with,
accept orders from, or have any business dealings with any Client with whom or which the Executive had personal dealings in the course of his employment at any time during the twelve months prior to the Termination Date or in respect of whom the
Executive had knowledge of Confidential Information; 

  

	 	(e)	 whether on his own account or for any other person, firm, company, or other legal entity, in competition with the Restricted Business, seek to
solicit or 

  
 PAGE 25

	 	
endeavour to entice away the custom of any Prospective Client with whom the Executive had personal dealings in the course of his employment at any time during the twelve months prior to the
Termination Date or in respect of whom the Executive had knowledge of Confidential Information; 

  

	 	(f)	whether on his own account or for any other person, firm, company, or other legal entity, in competition with the Restricted Business, do any business with,
accept orders from, or have any business dealings with any Prospective Client with whom the Executive had personal dealings in the course of his employment at any time during the twelve months prior to the Termination Date or in respect of whom the
Executive had knowledge of Confidential Information; 

  

	 	(g)	solicit, employ or attempt to employ, engage or attempt to engage, induce or attempt to induce to leave the employment of the Company or any other Group Company
or to cease providing services to the Company or any other Group Company any person employed or engaged by the Company or any other Group Company as at the Termination Date who was at any time during the 12 months prior to the Termination Date
engaged or employed in the capacity of Manager or in a more senior capacity than that of Manager and, in any case, with whom the Executive had dealt or had contact in the normal course of his duties at any time during such period, or in any way
interfere with the relationship of the Company or any other Group Company and any such individual. 

  

	16.2	The Executive acknowledges and agrees that each of the covenants contained in clauses 16.1(a) to 16.1(g) constitutes an entirely separate and independent
restriction and if any covenant is found to be invalid, this will not affect the validity or enforceability of any other of the covenants. Further, if any covenant is found to be invalid and would be adjudged to be valid and effective if part of the
wording thereof were deleted or the periods thereof reduced or the area thereof reduced in scope they shall apply with such modifications as may be necessary to make them valid and effective. The Executive further acknowledges that he has had an
opportunity to take legal advice on the covenants and agrees that the duration and extent of each of the covenants are no greater than necessary for the protection of the Group’s legitimate commercial interests. 

  
 PAGE 26

	16.3	Any benefit given or deemed to be given by the Executive to any Group Company under the terms of this clause is received and held on trust by the Company for the
relevant Group Company. The Executive hereby agrees to enter into appropriate restrictive covenants of a similar scope and duration to those contained in clause 16.1 directly with other Group Companies if asked to do so by the Company.

  

	17	DATA PROTECTION 

  

	17.1	The Executive consents to the Company and any other Group Company holding and processing personal data as defined in the Data Protection Act 1998 (“the
DPA”) concerning him in order to properly fulfil its obligations to him under this Agreement and as otherwise required or permitted by law in relation to his employment in accordance with the DPA. Such processing shall principally be for legal,
personnel, administrative and payroll purposes. 

  

	17.2	The Executive accepts and acknowledges that, as the Company is part of a group of companies whose parent is situated in the United States of America, and as he
may be required at any time to work on behalf of the Company or any other Group Company overseas (in particular, in the Republic of Ireland), the Company may need to pass personal data concerning him anywhere in the world and he hereby expressly
consents to the Company doing so. 

  

	17.3	The Executive further consents to the Company and any other Group Company processing any sensitive personal data (as defined in the DPA) relating to him,
including, as appropriate- 

  

	 	(a)	information about the Executive’s physical or mental health or condition in order to monitor sick leave and take decisions as to fitness for work (including
any medical report made by a medical practitioner nominated by the Company pursuant to clause 8.3); 

  
 PAGE 27

	 	(b)	the Executive’s racial or ethnic origin or religious or similar information in order to monitor compliance with equal opportunities legislation; and

  

	 	(c)	information relating to any criminal proceedings in which the Executive may have been involved for insurance purposes and in order to comply with legal
requirements and obligations to third parties. 

  

	17.4	The Executive acknowledges that the Company and any other Group Company may make any information to which clause 17.3 relates available to individuals or
companies who provide products or services to the Company or to any other Group Company (such as advisers and payroll administrators), regulatory authorities, potential or future employers, governmental or quasi-governmental organisations and
potential purchasers of the Company or the business in which the Executive is employed. 

  

	18	DISCIPLINARY AND GRIEVANCE PROCEDURES 

  

	18.1	Any disciplinary action or grievance proceedings shall be carried out in accordance with such procedures as the Board deems appropriate and these procedures are
not contractually binding. 

  

	18.2	The Company may suspend the Executive from work in order to allow it to investigate any disciplinary or grievance matter. The Executive’s salary and
benefits shall continue to be paid and provided in full during the period of such suspension. 

  

	18.3	If the Executive wishes to raise a grievance concerning his employment with the Company he should refer it in writing to the Senior Vice President, Human
Resources of the Parent, or to such other person as the Board may direct from time to time. 

  

	18.4	If the Executive wishes to appeal against any disciplinary decision or any decision to dismiss him, or any decision in response to a grievance, the Executive may
appeal in writing to the Board of the Parent, or to such other person as the Board may direct from time to time. 

  
 PAGE 28

	19	NOTIFICATION 

  

	19.1	The Executive is required to notify the Company in writing of any changes in his personal circumstances which shall be of relevance to the Company as his
employer. Examples include, but are not limited to, change of address and bank details. 

  

	19.2	The Executive must notify the Company in the event that he is prosecuted for any offence other than a minor motoring offence. The Executive must keep the Company
informed as to the progress and outcome of any prosecution. This information will be kept strictly confidential by the Company until such time if or when it enters the public domain other than through a breach of this clause by the Company.

  

	19.3	The Executive must notify the Company immediately in the event of him becoming aware of any leak or misuse of Confidential Information by any employee, agent or
officer of the Company. 

  

	20	CHANGES TO TERMS OF EMPLOYMENT 

 The Company reserves the right to make reasonable changes to any of the Executive’s terms and conditions of employment and will notify him in writing of such changes at the earliest opportunity.

  

	21	NOTICES 

 Any notice to be
given under this Agreement shall be in writing. Notices may be given by personal delivery or post addressed to the other party- 
  

	21.1	in the case of a notice to be given to the Executive, to him at his last known place of residence; and 

 

	21.2	in the case of a notice to be given to the Company, to it at its registered office for the time being; 

  
 PAGE 29

 and any notice so given shall be deemed to have been served 48 hours after it was posted and
proof that the notice was properly addressed, pre-paid and posted shall be sufficient evidence of service. 
  

	22	GOVERNING LAW 

 This
Agreement shall be interpreted and enforced in accordance with the laws of England and Wales and the parties hereto submit to the exclusive jurisdiction of the English Courts. 

 

	23	SUPERSESSION OF PREVIOUS AGREEMENTS 

 This Agreement supersedes and is in substitution for any subsisting agreements between the Company and the Executive (whether of an employment nature or otherwise) and all such subsisting agreements shall
be deemed to have been terminated by mutual consent with effect from the Commencement Date. 
  

	24	THIRD PARTY RIGHTS 

  

	24.1	No term of this Agreement shall be enforceable by any person who is not a party to it either under the Contracts (Rights of Third Parties) Act 1999 or otherwise.

  

	25	MULTIPLE COPIES 

  

	25.1	This Agreement may be executed by any number of counterparts each in the like form, all of which taken together shall constitute one and the same document and
any party may execute this Agreement by signing any one or more of such counterparts. 

  

	26	SUPPLEMENTAL 

  

	26.1	The following provisions shall have effect for the purposes of the Employment Rights Act 1996 as amended: 

 

	 	(a)	there is no current requirement for the Executive to work outside the United Kingdom for any consecutive period in excess of one month; and

  
 PAGE 30

	 	(b)	there are no collective agreements currently in force which affect directly or indirectly the terms and conditions of the Executive’s employment.

 This document has been executed as a deed and is delivered and takes effect on the date stated at the beginning of it.

  

					
	Executed under the common seal of SAVIENT PHARMA
IRELAND LIMITED in the presence of:	  	/s/ John H. Johnson	  	
		  	Director	  	
			
	 /s/ Mary Gambert
	  	/s/ Philip K. Yachmetz	  	
	 [SIGNATURE OF WITNESS]
 Mary
Gambert, Executive Assistant
	  	Director/Secretary	  	
			
	 [NAME, ADDRESS AND OCCUPATION OF WITNESS]
 Savient Pharmaceuticals, Inc.
 One Tower Center

East Brunswick, NJ 08816
	  		  	
			
	Signed as a deed by DAVID VEITCH in the presence of:	  	/s/ David Veitch	  	
			
	 /s/ Joan Winterbottom
	  		  	
			
	[SIGNATURE OF WITNESS]	  		  	
			
	 [NAME, ADDRESS AND OCCUPATION OF WITNESS]
 SVP, Human Resources
 Savient Pharmaceuticals, Inc.

One Tower Center
 East Brunswick, NJ
08816
	  		  	

  
 PAGE 31

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