Document:

EX-10.1

 Exhibit 10.1 

JOINDER AND SIXTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

THIS JOINDER AND SIXTH AMENDMENT to Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into as of
October 5, 2021, by and among OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 115 South Union Street, Suite 300, Alexandria, Virginia 22314 (“Oxford”), as collateral agent (in such capacity,
“Collateral Agent”), the Lenders listed on Schedule 1.1 to the Loan Agreement (as defined below) or otherwise a party thereto from time to time including Oxford in its capacity as a Lender and SILICON VALLEY BANK, a California
corporation with an office located at 3003 Tasman Drive, Santa Clara, CA 95054 (“Bank” or “SVB”) (each a “Lender” and collectively, the “Lenders”), and XERIS PHARMACEUTICALS, INC., a Delaware
corporation (“Existing Borrower”) XERIS BIOPHARMA HOLDINGS, INC. a Delaware corporation (“Holdings”), STRONGBRIDGE U.S. INC., a Delaware corporation (“Strongbridge” and together
with Holdings, each a “New Borrower” and collectively, “New Borrowers”, and together with Existing Borrower, individually and collectively, jointly and severally, “Borrower”), each with offices
located at 180 North LaSalle Street, Suite 1600, Chicago, IL 60601. 
 A. WHEREAS, Collateral Agent, Borrower and Lenders have entered into
that certain Amended and Restated Loan and Security Agreement dated as of September 10, 2019 (as amended, supplemented or otherwise modified from time to time, including by that certain First Amendment to Amended and Restated Loan and Security
Agreement dated as of April 21, 2020, that certain Second Amendment to Amended and Restated Loan and Security Agreement dated as of June 30, 2020, that certain Third Amendment to Amended and Restated Loan and Security Agreement dated as of
August 5, 2020, that certain Fourth Amendment to Amended and Restated Loan and Security Agreement dated as of October 23, 2020, that certain Fifth Amendment to Amended and Restated Loan and Security Agreement dated as of May 3, 2021
and that certain Consent under Loan and Security Agreement dated as of May 24, 2021, collectively, the “Loan Agreement”) pursuant to which Lenders have provided to Borrower certain loans in accordance with the terms and
conditions thereof; and 
 B. WHEREAS, Borrower has requested that Collateral Agent and Lenders (i) add the New Borrowers as Borrowers
and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein; and 
 C. WHEREAS, Borrower, Lenders and
Collateral Agent desire to amend certain provisions of the Loan Agreement as provided herein and subject to the terms and conditions set forth herein. 

AGREEMENT 

NOW, THEREFORE, in consideration of the promises, covenants and agreements contained herein, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, Borrower, Lenders and Collateral Agent hereby agree as follows: 
 1. Definitions.
Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement. 
 2. Joinder. 

2.1 New Borrower. Each New Borrower hereby is added as a “Borrower” under the Loan Agreement. All references in the
Agreement to “Borrower” shall hereafter mean and include the Existing Borrower and each New Borrower individually and collectively, jointly and severally; and each New Borrower shall hereafter have all rights, duties and obligations of
“Borrower” thereunder. 
 2.2 Joinder to Loan Agreement. Each New Borrower hereby joins the Loan Agreement and each
of the Loan Documents (other than the Warrants), and agrees to comply with and be bound by all of the terms, conditions and covenants of the Loan Agreement and Loan Documents (other than the Warrants), as if it were originally named a
“Borrower” therein. Without limiting the generality of the preceding sentence, each New Borrower agrees that it will be jointly and severally liable, together with Existing Borrower, for the payment and performance of all

 
obligations and liabilities of Borrower under the Loan Agreement, including, without limitation, the Obligations. Each Borrower may, acting singly, request Credit Extensions pursuant to the Loan
Agreement. Each Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting Credit Extensions pursuant to the Loan Agreement. Each Borrower hereunder shall be obligated to repay all
outstanding Credit Extensions made pursuant to the Loan Agreement when due, regardless of which Borrower actually receives said Credit Extension, as if each Borrower hereunder directly received all Credit Extensions. 

2.3 Grant of Security Interest. Each New Borrower hereby grants Collateral Agent, for the ratable benefit of the Lenders, to
secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Collateral Agent, for the ratable benefit of the Lenders, the Collateral, wherever located, whether now owned or hereafter
acquired or arising, and all proceeds and products thereof. Each New Borrower represents, warrants, and covenants that, upon the filing of financing statements and other similar statements filed in the appropriate offices by Collateral Agent, the
security interest granted herein shall at all times continue to be a first priority perfected security interest in the Collateral, subject only to Permitted Liens that are permitted by the terms of this Agreement to have priority to Collateral
Agent’s Lien. Each New Borrower hereby authorizes Collateral Agent to file financing statements or take any other action required to perfect Collateral Agent’s security interests in the Collateral, without notice to New Borrower, with all
appropriate jurisdictions to perfect or protect Collateral Agent’s interest or rights under the Loan Documents, including a notice that any disposition of the Collateral, except to the extent permitted by the terms of this Agreement, by New
Borrower, or any other Person, shall be deemed to violate the rights of Collateral Agent under the Code. 
 2.4 Representations and
Warranties. Each New Borrower hereby represents and warrants to Collateral Agent and each Lender that all representations and warranties in the Loan Documents made on the part of Existing Borrower are true and correct in all material respects on
the date hereof with respect to Existing Borrower (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date) and New Borrower, with the same force and effect as if
New Borrower were named as “Borrower” in the Loan Documents in addition to Existing Borrower. 
 3. Amendments to Loan Agreement. 

3.1 New Section 6.15 (Post-Merger Consolidated Cash). New Section 6.15 is hereby added to the Loan
Agreement to read as follows: 
 “6.15 Post-Merger Consolidated Cash. On the day after the merger
contemplated by, and consummated pursuant to, the Transaction Documents (as defined in the Consent Agreement) is consummated, Strongbridge PLC and its Subsidiaries shall maintain net cash (net of all merger-related expenses and the repayment of the
Indebtedness for borrowed money of Strongbridge PLC and its Subsidiaries) in an amount greater than Zero Dollars ($0.00).” 
 3.2
New Section 6.16 (Post-Merger Deliverables). New Section 6.16 is hereby added to the Loan Agreement to read as follows: 

“6.16 Post-Merger Deliverables. 

(a) No later than the date which is ninety (90) days after the Sixth Amendment Effective Date, Borrower shall have
delivered to Collateral Agent and the Lenders, in form and substance reasonably satisfactory to Collateral Agent and Lenders, the Irish Loan Documents, the Swedish Guaranty and the Swedish Security Documents; and 

(b) No later than fifteen (15) days after the Sixth Amendment Effective Date, Borrower shall have delivered to Collateral
Agent and the Lenders, in form and substance reasonably satisfactory to Collateral Agent and Lenders, (i) the certificate(s) for the Shares, together with Assignment(s) Separate from Certificate, duly executed in blank and (ii) those
certain Amended and Restated Warrants to Purchase Stock, along with any necessary resolutions of Holdings authorizing the issuance of the same, in each case issued by Holdings in favor of each Lender or such Lender’s Affiliates.” 

  
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 3.3 Section 7.1 (Dispositions). Section 7.1 of the Loan Agreement is
hereby amended and restated in its entirety as follows: 
 “7.1 Dispositions. Convey, sell, lease,
transfer, assign, or otherwise dispose of (collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of
business; (b) of worn out or obsolete Equipment or other Equipment which is being replaced by Equipment of reasonably equivalent or better value or usefulness; (c) the Borrower and its Subsidiaries may effect the transactions required by
the Restructuring, including without limitation that (1) Xeris Sweden may convey, sell, contribute or otherwise transfer to Holdings, 100% of its equity interests in Strongbridge, and Holdings may in turn, convey, sell, contribute or otherwise
transfer 100% of its then equity interests in Strongbridge to Xeris and (2) Xeris may convey, sell, contribute or otherwise transfer 100% of its equity interests in Xeris Pharmaceuticals Ireland Limited to Strongbridge Dublin, and (d) in
connection with Permitted Liens, Permitted Investments and Permitted Licenses. Notwithstanding the foregoing, and for the avoidance of doubt, this Section 7.1 shall not prohibit (i) the conversion by holders of any Permitted
Convertible Indebtedness in accordance with the terms of the indenture governing such Permitted Convertible Indebtedness or the Borrower’s delivery of the conversion consideration in connection therewith or the delivery of common stock of the
Borrower, and cash in lieu of fractional shares of the Borrower’s common stock in exchange for, or to induce conversions of, Permitted Convertible Indebtedness; provided that the conversion consideration (or exchange or inducement
consideration) paid to such holders is limited to (A) shares of common stock of the Borrower, (B) cash in lieu of fractional shares of common stock of the Borrower (provided further that the amount of cash in lieu of fractional shares of
common stock of the Borrower paid to holders of Permitted Convertible Indebtedness in connection with the conversion or exchange thereof, or the inducement to convert Permitted Convertible Indebtedness, shall not exceed Twenty-Five Thousand Dollars
($25,000.00) in the aggregate in any fiscal year of the Borrower), and (C) in the limited case of exchange or inducement consideration only, cash of up to Five Hundred Thousand Dollars ($500,000.00) in the aggregate for all exchange or
inducement consideration paid after the Second Amendment Effective Date, or (ii) the making of any interest payments with respect to any Permitted Convertible Indebtedness to the extent permitted pursuant to clause (v) of the definition
thereof.” 
 3.4 Section 7.2 (Changes in Business, Management, Ownership, or Business Locations).
Section 7.2 of the Loan Agreement is hereby amended and restated in its entirety as follows: 
 “7.2 Changes in
Business, Management, Ownership or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage in any business other than the businesses engaged in by Borrower as of the Effective Date or reasonably related thereto;
(b) liquidate or dissolve; except for Xeris Sweden so long as all or substantially all assets of Xeris Sweden are transferred to Borrower or a Guarantor; or (c) (i) any Key Person shall cease to be actively engaged in the management
of Borrower unless written notice thereof is provided to Collateral Agent within five (5) Business Days of such change, or (ii) enter into any transaction or series of related transactions in which the stockholders of Borrower who were not
stockholders immediately prior to the first such transaction own more than forty nine percent (49%) of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of
Borrower’s equity securities in a public offering, a private placement of public equity or to venture capital investors so long as Borrower identifies to Collateral Agent the venture capital investors prior to the closing of the transaction).
Borrower shall not, without at least thirty (30) days’ prior written notice to Collateral Agent: (A) add any new offices or business locations, including warehouses (unless such new offices or business locations (i) contain less
than Five Hundred Thousand Dollars ($500,000.00) in assets or property of Borrower or any of its Subsidiaries and (ii) 

  
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are not Borrower’s or its Subsidiaries’ chief executive office); (B) change its jurisdiction of organization, (C) change its organizational structure or type; provided, however,
that Strongbridge plc may convert into a limited liability company as described in the Restructuring, (D) change its legal name, or (E) change any organizational number (if any) assigned by its jurisdiction of organization.” 

3.5 Section 7.3 (Mergers or Acquisitions). Section 7.3 of the Loan Agreement is hereby amended and restated in its entirety
as follows: 
 “7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to
merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock, shares or property of another Person; provided, however, nothing herein shall prohibit Borrower
from effecting such a transaction to the extent it (i) qualifies as a “Permitted Acquisition”, (ii) is pursuant to the Transaction Documents (as defined in the Consent Agreement); and provided, further, that Xeris Pharmaceuticals
Ireland Limited may be merged with and into Strongbridge Dublin. A Subsidiary may merge or consolidate into another Subsidiary (provided such surviving Subsidiary is a “co-Borrower” hereunder or has
provided a secured Guaranty of Borrower’s Obligations hereunder) or with (or into) Borrower provided Borrower is the surviving legal entity, and as long as no Event of Default is occurring prior thereto or arises as a result therefrom. Without
limiting the foregoing, Borrower shall not, without Collateral Agent’s prior written consent, enter into any binding contractual arrangement with any Person to attempt to facilitate a merger or acquisition of Borrower, unless (i) no Event
of Default exists when such agreement is entered into by Borrower, (ii) such agreement does not give such Person the right to claim any fees, payments or damages from Borrower in excess of Five Hundred Thousand Dollars ($500,000.00), and
(iii) Borrower notifies Collateral Agent in advance of entering into such an agreement.” 
 3.6 Section 7.8 (Transactions
with Affiliates). Section 7.12 of the Loan Agreement is hereby amended and restated in its entirety as follows: 

“7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material
transaction with any Affiliate of Borrower or any of its Subsidiaries, except for (a) transactions that are in the ordinary course of Borrower’s or such Subsidiary’s business, upon fair and reasonable terms that are no less favorable
to Borrower or such Subsidiary than would be obtained in an arm’s length transaction with a non-affiliated Person, (b) Subordinated Debt or equity investments by Borrower’s investors in Borrower
or its Subsidiaries, (c) intercompany loans made by Borrower to Xeris Pharmaceuticals Australia Pty Ltd. and Xeris Pharmaceuticals Ireland Limited described in clause (h) of the definition of Permitted Indebtedness, and
(d) intercompany loans made by Borrower or any Subsidiary of Borrower to any other Borrower or any other Subsidiary of Borrower which is a “co-Borrower” hereunder or a Guarantor.” 

3.7 Section 7.12 (Subsidiary Assets). Section 7.12 of the Loan Agreement is hereby amended and restated in its entirety as
follows: 
 “7.12 Subsidiary Assets. (a) Permit the aggregate amount of cash and value of assets held
or maintained by (i) Xeris Pharmaceuticals Australia Pty Ltd. to exceed Four Million Five Hundred Thousand Dollars ($4,500,000.00) at any time, (ii) Xeris Pharmaceuticals Ireland Limited to exceed One Hundred Thousand Dollars ($100,000.00)
at any time and (iii) Xeris Sweden to exceed One Hundred Thousand Dollars ($100,000.00) at any time, or (b) permit either Xeris Pharmaceuticals Australia Pty Ltd., Xeris Sweden or Xeris Pharmaceuticals Ireland Limited to own, license,
develop or otherwise hold any Intellectual Property.” 

  
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 3.8 Section 8.2 (Covenant Default). Section 8.2(a) of the Loan Agreement
is hereby amended and restated in its entirety as follows: 
 “(a) Borrower or any of its Subsidiaries fails or neglects
to perform any obligation in Sections 6.2 (Financial Statements, Reports, Certificates), 6.4 (Taxes), 6.5 (Insurance), 6.6 (Operating Accounts), 6.7 (Protection of Intellectual Property Rights), 6.9 (Notice of Litigation and Default), 6.10 (Minimum
Cash), 6.11 (Landlord Waivers; Bailee Waivers), 6.12 (Creation/Acquisition of Subsidiaries), 6.13 (Further Assurances), 6.14 (SBA PPP Loan), 6.15 (Post-Merger Consolidated Cash) or 6.16 (Post-Merger Deliverables) or Borrower violates any covenant in
Section 7; or” 
 3.9 Section 8.13 (Delisting). Section 8.13 of the Loan Agreement is hereby amended and
restated in its entirety as follows: 
 “8.13 Delisting. The shares of common stock of Holdings are
delisted from NASDAQ Global Select Market because of failure to comply with continued listing standards thereof or due to a voluntary delisting which results in such shares not being listed on any other nationally recognized stock exchange in the
United States having listing standards at least as restrictive as the NASDAQ Global Select Market.” 
 3.10 Section 12.14
(Borrower Liability). New Section 12.14 is hereby added to the Loan Agreement to read as follows: 

“12.14 Borrower Liability. Any Borrower may, acting singly, request Credit Extensions hereunder. Each
Borrower hereby appoints the other as agent for the other for all purposes hereunder, including with respect to requesting Credit Extensions hereunder. Each Borrower hereunder shall be jointly and severally obligated to repay all Credit Extensions
made hereunder, regardless of which Borrower actually receives said Credit Extension, as if each Borrower hereunder directly received all Credit Extensions. Each Borrower waives (a) any suretyship defenses available to it under the Code or any
other applicable law, and (b) any right to require Collateral Agent or any Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy.
Collateral Agent and or any Lender may exercise or not exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non judicial sale) without affecting any Borrower’s
liability. Notwithstanding any other provision of this Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights
of Collateral Agent and the Lenders under this Agreement) to seek contribution, indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the
Obligations, for any payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any
payment made by Borrower with respect to the Obligations in connection with this Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this Section shall be null and void. If any
payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Collateral Agent and the Lenders and such payment shall be promptly delivered to Collateral Agent for application to the Obligations,
whether matured or unmatured.” 
 3.11 Section 13.1 (Definitions). The following terms and their respective definitions
hereby are added or amended and restated in their entirety, as applicable, to Section 13.1 of the Loan Agreement as follows: 

“Consent Agreement” means that certain Consent under the Loan Agreement entered into as of May 24, 2021
by and among Collateral Agent and the Lenders, and Xeris. 
 “Holdings” means Xeris Biopharma Holdings,
Inc., a Delaware corporation and parent of Xeris. 

  
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 “Insolvency Proceedings” is any proceedings by or against
any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including for its liquidation, examinership, assignments for the benefit of creditors, compositions, extensions generally with its creditors, or
proceedings seeking reorganisation, arrangements, or other relief. 
 “IP Agreement”
means, collectively, (i) that certain Intellectual Property Security Agreement entered into by and between Xeris and Collateral Agent dated as of the Effective Date, as such may be amended from time to time, (ii) that certain Intellectual
Property Security Agreement entered into by and between Holdings and Collateral Agent dated as of the Sixth Amendment Effective Date, as such may be amended from time to time and (iii) that certain Intellectual Property Security Agreement
entered into by and between Strongbridge and Collateral Agent dated as of the Sixth Amendment Effective Date, as such may be amended from time to time. 

“Irish Loan Documents” means: 

(a) an Irish law guaranty to be provided by each of Strongbridge PLC and Strongbridge Dublin in favour of the Collateral Agent
guaranteeing the Obligations of the Borrowers under the Loan Agreement (the “Irish Guaranty”); 
 (b) an
Irish law Debenture to be provided by each of Strongbridge PLC and Strongbridge Dublin in favour of the Collateral Agent granting first fixed and floating security over all assets of both Strongbridge PLC and Strongbridge Dublin (the “Irish
Debenture”); 
 (c) an Irish law Share Charge to be provided by Holdings in favour of the Collateral Agent over all
the Shares held by Holdings in Strongbridge PLC (the “Irish Share Charge”); 
 (d) evidence in a format
acceptable to the Collateral Agent that the granting of the Irish Guaranty and the Irish Debenture (together the “Irish Security Documents”) do not constitute the giving of financial assistance for the purposes of Section 82 of
the Companies Act 2014 (“Section 82”) or, if it does that Section 82 has been complied with in full; 

(e) a corporate certificate addressed to the Collateral Agent and William Fry LLP, Solicitors annexing: 

(i) a copy of the certificate of incorporation and constitutional documents of each of Strongbridge PLC and Strongbridge
Dublin; 
 (ii) a copy of the board resolution of each of Strongbridge PLC and Strongbridge Dublin approving, inter alia, the
Irish Guaranty and the Irish Debenture; 
 (f) originals of each of the share deliverables referred to in the Irish Share
Charge and the Irish Debenture; 
 (g) completed registration forms relating to the security granted over any Intellectual
Property referred to in the Irish Debenture; 
 (h) a due incorporation and corporate capacity legal opinion from A&L
Goodbody LLP, Strongbridge PLC’s and Strongbridge Dublin’s counsel, in favour of the Collateral Agent; 
 (i) a
legal validity and enforceability opinion from William Fry LLP, Solicitors in relation to Strongbridge PLC and Strongbridge Dublin; 

  
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 (j) a Control Agreement or other appropriate instrument under applicable law
provided by each of Strongbridge PLC and Strongbridge Dublin and the relevant Account Bank, to the extent required pursuant to the Irish Debenture; 

where each of the items at (a) to (j) inclusive above shall be in a format acceptable to the Collateral Agent. 

“Key Person” is each of Borrower’s (i) Chief Executive Officer, who is Paul Edick as of the
Effective Date, (ii) Chief Financial Officer, who is Steven Pieper as of the Sixth Amendment Effective Date, and (iii) Chief Scientific Officer, who is Steve Prestrelski as of the Effective Date. 

“Lender’s Expenses” means all audit fees and expenses, costs, and expenses (including reasonable
attorneys’ fees and expenses, as well as appraisal fees, fees incurred on account of lien searches, inspection fees, and filing fees) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including,
without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred by Collateral Agent and/or the Lenders and/or any Receiver in connection with the Loan Documents. 

“Loan Documents” are, collectively, this Agreement, the Warrants, the Perfection Certificates, the Irish Loan
Documents, the Swedish Guaranty, the Swedish Security Documents, each Compliance Certificate, each Disbursement Letter, each Loan Payment/Advance Request Form and any Bank Services Agreement, the IP Agreement, any subordination agreements, any note,
or notes or guaranties executed by Borrower or any other Person, and any other present or future agreement entered into by Borrower, any Guarantor or any other Person for the benefit of the Lenders and Collateral Agent in connection with this
Agreement; all as amended, restated, or otherwise modified. 
 “Operating Documents” are for any Person,
such Person’s formation documents, as certified by the Secretary for State (or equivalent agency, if normally provided) of such Person’s jurisdiction of organization on a date that is no earlier than thirty (30) days prior to the
Effective Date, and (a) if such Person is a corporation, its constitution or by laws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such
Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 

“Receiver” means any receiver or any receiver and manager appointed under any of the Irish Documents. 

“Restructuring” means the internal reorganization as described in Annex I to this Agreement. 

“Revenue Milestone A” means Borrower’s delivery to Collateral Agent and the Lenders, after the Fifth
Amendment Effective Date but prior to December 15, 2021, of evidence, in form and content acceptable to Collateral Agent and the Lenders, that Holdings and its Subsidiaries have achieved consolidated revenue, measured in accordance with GAAP on
a trailing six (6) month basis as of the last day of any fiscal month, from (a) commercial product sales and royalties from commercial product sales (excluding, however, any upfront or milestone payments from licensing agreements), of not
less than Nineteen Million Two Hundred Thousand Dollars ($19,200,000.00) and (b) Gvoke® and Ogluo® of not less than Seventeen
Million Two Hundred Eighty Thousand Dollars ($17,280,000). 
 “Revenue Milestone B” means Borrower’s
delivery to Collateral Agent and the Lenders, after the Fifth Amendment Effective Date but prior to June 15, 2022, of evidence, in form and content acceptable to Collateral Agent and the Lenders, that Holdings and its Subsidiaries have achieved
consolidated revenue, measured in accordance with GAAP on a trailing six (6) month basis 

  
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as of the last day of any fiscal month, from (a) commercial product sales and royalties from commercial product sales (excluding, however, any upfront or milestone payments from licensing
agreements), of not less than Twenty-Three Million One Hundred Thousand Dollars ($23,100,000.00) and (b) Gvoke® and Ogluo® of not
less than Fifteen Million Five Hundred Fifty-Two Thousand Dollars ($15,552,000). 

“Revenue Milestone C” means Borrower’s delivery to Collateral Agent and the Lenders, after the Fifth
Amendment Effective Date but prior to September 15, 2022, of evidence, in form and content acceptable to Collateral Agent and the Lenders, that Holdings and its Subsidiaries have achieved consolidated revenue, measured in accordance with GAAP
on a trailing six (6) month basis as of the last day of any fiscal month, from (a) commercial product sales and royalties from commercial product sales (excluding, however, any upfront or milestone payments from licensing agreements), of
not less than Twenty-Six Million Six Hundred Thousand Dollars ($26,600,000.00) and (b) Gvoke® and Ogluo® of not less than Fifteen Million Five Hundred Fifty-Two Thousand Dollars ($15,552,000). 

“Sixth Amendment Effective Date” is October 5, 2021. 

“Strongbridge” Strongbridge U.S. Inc. a Delaware corporation and wholly-owned Subsidiary of Xeris. 

“Strongbridge Dublin” means Strongbridge Dublin Limited., a company incorporated in Ireland with registered
number 63759and wholly-owned Subsidiary of Strongbridge plc. 
 “Strongbridge PLC” means Strongbridge
Biopharma plc, a company organized under the laws of the Republic of Ireland with registered number 562659 and wholly-owned Subsidiary of Holdings. 

“Swedish Guaranty” is that certain guarantee agreement provided by the Xeris Sweden in favour of Bank, as may
be amended, restated, amended and restated, or modified from time to time. 
 “Swedish Security Documents”
is, collectively, any account pledge agreement, Share Pledge Agreement, and any other document, instrument or agreement in which Xeris Sweden grant a Lien to Collateral Agent, for the ratable benefit of the Lenders. 

“Swedish Share Pledge Agreement” is that certain Share Pledge Agreement providing a pledge of all the
equity interest of Xeris Sweden to Collateral Agent, for the ratable benefit of the Lenders, as may be amended, modified or restated from time to time. 

“Warrants” are those certain Amended and Restated Warrants to Purchase Stock delivered in accordance with
Section 6.16 hereof, in each case issued by Holdings in favor of each Lender or such Lender’s Affiliates. 

“Xeris” meansXeris Pharmaceuticals, Inc., a Delaware corporation and wholly-owned Subsidiary of Holdings. 

“Xeris Sweden” means Cortendo AB, a private limited liability company, organized under the laws of Sweden and
wholly-owned Subsidiary of Strongbridge PLC. 

  
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 3.12 Section 13.1 (Definitions). The defined term “Permitted
Investments” in Section 13.1 of the Loan Agreement hereby is amended by replacing the “; and” at the end of clause (k) with “;”, replacing the period at the end of clause (l) with “;” and adding new
clauses (m) and (n), as follows: 
 “(m) Investments made pursuant to the Transaction Documents (as defined in the
Consent Agreement) in order to consummate the merger contemplated thereunder; and 
 (n) the Investment in Xeris Sweden made
pursuant to the Restructuring in order to consummate the sale of Strongbridge to Holdings.” 
 3.13 Section 13.1
(Definitions). The defined term “Permitted Indebtedness” in Section 13.1 of the Loan Agreement hereby is amended by replacing the “; and” at the end of clause (k) with “;”, replacing the period at the end
of clause (l) with “;” and adding new clauses (m) and (n), as follows: 
 “(m) Indebtedness, to the
extent permitted under clause (l) of the definition of Permitted Investments; and 
 (n) Indebtedness owing from
Holdings to Xeris Sweden pursuant to a note in an original principal amount equal to Seventy Million Dollars ($70,000,000).” 

3.14 General. Each reference to the phrase “[n]either Borrower” in the Loan Agreement hereby is replaced with
“[n]o Borrower.” 
 4. Limitation of Joinder and Amendment. 

4.1 The joinder and amendments set forth above are effective for the purposes set forth herein and shall be limited precisely as written
and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right, remedy or obligation which Lenders or Borrower may now have or
may have in the future under or in connection with any Loan Document, as amended hereby. 
 4.2 This Amendment shall be construed in
connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents are hereby ratified and confirmed and shall remain in full force and effect. 

5. REPRESENTATIONS AND WARRANTIES. Existing Borrower and each New Borrower hereby, jointly and severally, represent and warrant to Collateral
Agent and Lenders as follows: 
 5.1 Immediately prior to and after giving effect to this Amendment, (a) the representations and
warranties contained in the Loan Documents are true and correct in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such
date), and (b) no Event of Default has occurred and is continuing; 
 5.2 Existing Borrower and each New Borrower have the power
and due authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 

5.3 The organizational documents of Existing Borrower and each New Borrower delivered to Collateral Agent, and updated pursuant to
subsequent deliveries by the Existing Borrower to the Collateral Agent, if applicable, remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

5.4 The execution and delivery by Existing Borrower and each New Borrower of this Amendment and the performance by Existing Borrower and
each New Borrower of their respective obligations under the Loan Agreement, as amended by this Amendment, do not and will not (i) contravene any material Requirement of Law applicable thereto, (ii) contravene any order, judgment or decree
of any Governmental Authority binding on Existing Borrower or any New Borrower, (iii) contravene the organizational documents of Existing Borrower or any New Borrower, or (iv) constitute an event of default under any material agreement by
which Existing Borrower or any New Borrower or any of their respective Subsidiaries, or their respective Collateral, is bound; 

  
 9 

 5.5 The execution and delivery by Existing Borrower and each New Borrower of this
Amendment and the performance by Existing Borrower and each New Borrower of their respective obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or
filing, recording or registration with, or exemption by any Governmental Authority binding on Existing Borrower or any New Borrower; 

5.6 This Amendment has been duly executed and delivered by Existing Borrower and each New Borrower and is the binding obligation of
Existing Borrower and New Borrower, enforceable against Existing Borrower and each New Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
similar laws of general application and equitable principles relating to or affecting creditors’ rights; and 
 5.7 This
Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and
confirmed and shall remain in full force and effect. 
 6. Release. 

6.1 FOR GOOD AND VALUABLE CONSIDERATION, Existing Borrower and each New Borrower hereby forever relieves, releases, and
discharges Collateral Agent and each Lender and their respective present or former employees, officers, directors, agents, representatives, attorneys, and each of them, from any and all claims, debts, liabilities, demands, obligations, promises,
acts, agreements, costs and expenses, actions and causes of action, of every type, kind, nature, description or character whatsoever, whether known or unknown, suspected or unsuspected, absolute or contingent, arising out of or in any manner
whatsoever connected with or related to facts, circumstances, issues, controversies or claims existing or arising from the beginning of time through and including the date of execution of this Amendment solely to the extent such claims arise out of
or are in any manner whatsoever connected with or related to the Loan Documents, the Recitals hereto, any instruments, agreements or documents executed in connection with any of the foregoing or the origination, negotiation, administration,
servicing and/or enforcement of any of the foregoing (collectively “Released Claims”). 
 6.2 In furtherance of this
release, Existing Borrower and each New Borrower expressly acknowledges and waives the provisions of the following and any similar provision under the laws of any state: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 
 6.3
By entering into this release, Existing Borrower and each New Borrower recognizes that no facts or representations are ever absolutely certain and it may hereafter discover facts in addition to or different from those which it presently knows or
believes to be true, but that it is the intention of Borrower hereby to fully, finally and forever settle and release all matters, disputes and differences, known or unknown, suspected or unsuspected in relation to the Released Claims; accordingly,
if Existing Borrower or any New Borrower should subsequently discover that any fact that it relied upon in entering into this release was untrue, or that any understanding of the facts was incorrect, Existing Borrower and/or such New Borrower shall
not be entitled to set aside this release by reason thereof, regardless of any claim of mistake of fact or law or any other circumstances whatsoever. Existing Borrower and each New Borrower acknowledges that it is not relying upon and has not relied
upon any representation or statement made by Bank with respect to the facts underlying this release or with regard to any of such party’s rights or asserted rights. 

6.4 This release may be pleaded as a full and complete defense and/or as a cross-complaint or counterclaim against any action, suit, or
other proceeding that may be instituted, prosecuted or attempted in breach of this release. Existing Borrower and each New Borrower acknowledges that the release contained herein constitutes a material inducement to Collateral Agent and the Lenders
to enter into this Amendment, and that Collateral Agent and the Lenders would not have done so but for Collateral Agent’s and the Lenders’ expectation that such release is valid and enforceable in all events. 

  
 10 

 7. Effectiveness. This Amendment is contingent upon, and shall be deemed effective upon the
satisfaction of each of the following conditions: 
 7.1 the Collateral Agent’s receipt of this Amendment duly executed by each
of the Existing Borrower, each New Borrower, the Collateral Agent and each Lender; 
 7.2 the Collateral Agent’s receipt of
amended and restated Secured Promissory Notes in the form attached hereto as Exhibit A duly executed by each Borrower; 
 7.3
the Collateral Agent’s receipt of second amended and restated Secured Promissory Notes in the form attached hereto as Exhibit B duly executed by each Borrower; 

7.4 the Collateral Agent’s receipt of (i) a Perfection Certificate duly executed by each New Borrower and (ii) an updated
Perfection Certificate duly executed by Existing Borrower; 
 7.5 the Collateral Agent’s receipt of a Corporate Borrowing
Certificate duly executed by each of the Existing Borrower and each New Borrower; 
 7.6 copies of each New Borrower’s
organizational documents and such other documents and certifications as the Collateral Agent may reasonably require to evidence that New Borrower is duly organized or formed, and that New Borrower is validly existing and in good standing in its
jurisdiction of organization; 
 7.7 Collateral Agent’s receipt of all documents and instruments, including Uniform Commercial
Code financing statements, required by law by the Collateral Agent to be filed, registered or recorded to create or perfect the first priority Liens intended to be created under the Loan Documents and all such documents and instruments shall have
been so filed, registered or recorded to the satisfaction of the Collateral Agent; 
 7.8 Collateral Agent’s receipt of evidence
that no Liens exist on the assets of any New Borrower upon the consummation other than Permitted Liens and such other Liens that each of the Collateral Agent and Lenders shall consent to in their sole discretion; and 

7.9 Borrower’s payment of all Lenders’ Expenses incurred through the date hereof, which may be debited (or ACH’d) from
the Designated Deposit Account in accordance with Section 2.3(d) of the Loan Agreement. 
 8. Counterparts. This Amendment may be executed
in any number of counterparts, each of which shall be deemed an original, and all of which, taken together, shall constitute one and the same instrument. Delivery by electronic transmission (e.g. “.pdf”) of an executed counterpart of this
Amendment shall be effective as a manually executed counterpart signature thereof. 
 9. Governing Law. This Amendment and the rights and
obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of New York. 

[Balance of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have caused this Joinder and Sixth Amendment
to the Amended and Restated Loan Agreement to be executed as of the date first set forth above. 
  

	
	 EXISTING BORROWER:

	
	 XERIS PHARMACEUTICALS, INC.

	
	 By /s/ Steven M. Pieper

	 Name: Steven M. Pieper

	 Title: Chief Financial Officer

	
	 NEW BORROWER:

	
	 XERIS BIOPHARMA HOLDINGS, INC.

	
	 By /s/ Steven M. Pieper

	 Name: Steven M. Pieper

	 Title: Chief Financial Officer

	
	 STRONGBRIDGE U.S. INC.

	
	 By /s/ Steven M. Pieper

	 Name: Steven M. Pieper

	 Title: Chief Financial Officer

	
	 COLLATERAL AGENT AND LENDER:

	
	 OXFORD FINANCE LLC

	
	 By /s/ Colette H. Featherly

	 Name: Colette H. Featherly

	 Title: Senior Vice President

	
	 LENDER:

	
	 SILICON VALLEY BANK

	
	 By /s/ Annie Kadota

	 Name: Annie Kadota

	 Title: Vice President

 [Signature Page to Joinder and Sixth Amendment to Amended 

and Restated Loan and Security Agreement] 

 Annex I 

Restructuring 
 [to be
attached] 

 EXHIBIT A 

EXHIBIT D 
 Form of
Amended and Restated Secured Promissory Note 
 [see attached] 

 EXHIBIT B 

EXHIBIT E 
 Form of
Second Amended and Restated Secured Promissory Note 
 [see attached]EX-10.2

 Exhibit 10.2 

XERIS BIOPHARMA HOLDINGS, INC. 

FORM OF DIRECTOR INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (“Agreement”) is made as of October [__], 2021 by and between Xeris Biopharma Holdings, Inc.,
a Delaware corporation, (the “Company”), and [_____] (“Indemnitee”). 
 RECITALS 

WHEREAS, the Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company;

 WHEREAS, in order to induce Indemnitee to provide or continue to provide services to the Company, the Company wishes to provide for the
indemnification of, and advancement of expenses to, Indemnitee to the maximum extent permitted by law; 
 WHEREAS, the Amended and Restated
Certificate of Incorporation (as amended and in effect from time to time, the “Charter”) and the Amended and Restated Bylaws (as amended and in effect from time to time, the “Bylaws”) of the Company require
indemnification of the officers and directors of the Company, and Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”); 

WHEREAS, the Charter, the Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and
thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification; 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that the increased difficulty in attracting and
retaining highly qualified persons such as Indemnitee is detrimental to the best interests of the Company’s stockholders; 
 WHEREAS,
it is reasonable and prudent for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law, regardless of any amendment or revocation of the
Charter or the Bylaws, so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

WHEREAS, this Agreement is a supplement to and in furtherance of the indemnification provided in the Charter, the Bylaws and any resolutions
adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree
as follows: 

  
 1 

 Section 1. Services to the Company. Indemnitee agrees to [continue to] serve as
a director of the Company. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by law), in which event the Company shall have no obligation under this
Agreement to continue Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. 

Section 2. Definitions. 

As used in this Agreement: 
 (a)
“Change in Control” shall mean (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to
which the holders of the Company’s outstanding voting power and outstanding stock immediately prior to such transaction do not own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or
successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the sale of all of the Stock of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) any
other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting power of the Company or any successor entity immediately upon
completion of the transaction other than as a result of the acquisition of securities directly from the Company. 
 (b) “Corporate
Status” describes the status of a person as a current or former director of the Company or current or former director, manager, partner, officer, employee, agent or trustee of any other Enterprise which such person is or was serving at the
request of the Company. 
 (c) “Enforcement Expenses” shall include all reasonable attorneys’ fees, court costs,
transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other
out-of-pocket disbursements or expenses of the types customarily incurred in connection with an action to enforce indemnification or advancement rights, or an appeal
from such action. Expenses, however, shall not include fees, salaries, wages or benefits owed to Indemnitee. 
 (d)
“Enterprise” shall mean any corporation (other than the Company), partnership, joint venture, trust, employee benefit plan, limited liability company, or other legal entity of which Indemnitee is or was serving at the request of the
Company as a director, manager, partner, officer, employee, agent or trustee. 
 (e) “Expenses” shall include all
reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or
otherwise participating in, a Proceeding or an appeal resulting from a Proceeding. Expenses, however, shall not include amounts paid in settlement by Indemnitee, the amount of judgments or fines against Indemnitee or fees, salaries, wages or
benefits owed to Indemnitee. 

  
 2 

 (f) “Independent Counsel” means a law firm, or a partner (or, if
applicable, member or shareholder) of such a law firm, that is experienced in matters of Delaware corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company, any subsidiary of
the Company, any Enterprise or Indemnitee in any matter material to any such party; or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent
Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or
relating to this Agreement or its engagement pursuant hereto. 
 (g) The term “Proceeding” shall include any threatened,
pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise
and whether of a civil, criminal, administrative, regulatory or investigative nature, and whether formal or informal, in which Indemnitee was, is or will be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director
of the Company or is or was serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee of any Enterprise or by reason of any action taken by Indemnitee or of any action taken on his or her part while
acting as a director of the Company or while serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee of any Enterprise, in each case whether or not serving in such capacity at the time any liability
or expense is incurred for which indemnification, reimbursement or advancement of expenses can be provided under this Agreement; provided, however, that the term “Proceeding” shall not include any action, suit or arbitration,
or part thereof, initiated by Indemnitee to enforce Indemnitee’s rights under this Agreement as provided for in Section 12(a) of this Agreement. 

Section 3. Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee to the extent set forth in this
Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee
shall be indemnified against all Expenses, judgments, fines, penalties, excise taxes, and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding, had no reasonable cause to believe that his or
her conduct was unlawful. 

  
 3 

 Section 4. Indemnity in Proceedings by or in the Right of the Company. The
Company shall indemnify Indemnitee to the extent set forth in this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor.
Pursuant to this Section 4, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee
acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to
which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery (the “Delaware Court”) shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such expenses as the Delaware Court shall deem proper. 

Section 5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of
this Agreement and except as provided in Section 7, to the extent that Indemnitee is a party to or a participant in any Proceeding and is successful in such Proceeding or in defense of any claim, issue or matter therein, the Company shall
indemnify Indemnitee against all Expenses actually and reasonably incurred by him or her in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful as to one or more but less than all claims, issues or
matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on his or her behalf in connection with each successfully resolved claim, issue or matter. For purposes of this
Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

Section 6. Reimbursement for Expenses of a Witness or in Response to a Subpoena. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee, by reason of his or her Corporate Status, (i) is a witness in any Proceeding to which Indemnitee is not a party and is not threatened to be made a party or (ii) receives a subpoena with respect to
any Proceeding to which Indemnitee is not a party and is not threatened to be made a party, the Company shall reimburse Indemnitee for all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection therewith. 

Section 7. Exclusions. Notwithstanding any provision in this Agreement to the contrary, the Company shall not be obligated under
this Agreement: 
 (a) to indemnify for amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if and to
the extent that Indemnitee has otherwise actually received such amounts under any insurance policy, contract, agreement or otherwise; provided that the foregoing shall not affect the rights of Indemnitee; 

(b) to indemnify for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the
Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law, or from the purchase or sale by Indemnitee of such securities in violation of
Section 306 of the Sarbanes Oxley Act of 2002 (“SOX”); 

  
 4 

 (c) to indemnify with respect to any Proceeding, or part thereof, brought by
Indemnitee against the Company, any legal entity which it controls, any director or officer thereof or any third party, unless (i) the Board has consented to the initiation of such Proceeding or part thereof and (ii) the Company provides
the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law; provided, however, that this Section 7(c) shall not apply to (A) counterclaims or affirmative defenses asserted
by Indemnitee in an action brought against Indemnitee or (B) any action brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability insurance policies
maintained by the Company in the suit for which indemnification or advancement is being sought as described in Section 12; or 
 (d) to
provide any indemnification or advancement of expenses that is prohibited by applicable law (as such law exists at the time payment would otherwise be required pursuant to this Agreement). 

Section 8. Advancement of Expenses. Subject to Section 9(b), the Company shall advance, to the extent not prohibited by law,
the Expenses incurred by Indemnitee in connection with any Proceeding, and such advancement shall be made as incurred, and such advancement shall be made within thirty (30) days after the receipt by the Company of a statement or statements
requesting such advances (including any invoices received by Indemnitee, which such invoices may be redacted as necessary to avoid the waiver of any privilege accorded by applicable law) from time to time, whether prior to or after final disposition
of any Proceeding. Advances shall be unsecured and interest free. Advances shall be made without regard to Indemnitee’s (i) ability to repay the expenses, (ii) ultimate entitlement to indemnification under the other provisions of this
Agreement, and (iii) entitlement to and availability of insurance coverage, including advancement, payment or reimbursement of defense costs, expenses or covered loss under the provisions of any applicable insurance policy (including, without
limitation, whether such advancement, payment or reimbursement is withheld, conditioned or delayed by the insurer(s)). Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement which shall constitute an
undertaking providing that Indemnitee undertakes to the fullest extent required by law to repay the advance if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that
Indemnitee is not entitled to be indemnified by the Company. The right to advances under this paragraph shall in all events continue until final disposition of any Proceeding, including any appeal therein. Nothing in this Section 8 shall limit
Indemnitee’s right to advancement pursuant to Section 12(e) of this Agreement. 
 Section 9. Procedure for Notification
and Defense of Claim. 
 (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request
therefor specifying the basis for the claim, the amounts for which Indemnitee is seeking payment under this Agreement, and all documentation related thereto as reasonably requested by the Company. 

  
 5 

 (b) In the event that the Company shall be obligated hereunder to provide indemnification
for or make any advancement of Expenses with respect to any Proceeding, the Company shall be entitled to assume the defense of such Proceeding, or any claim, issue or matter therein, with counsel approved by Indemnitee (which approval shall not be
unreasonably withheld or delayed) upon the delivery to Indemnitee of written notice of the Company’s election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the
Company will not be liable to Indemnitee under this Agreement for any fees or expenses of separate counsel subsequently employed by or on behalf of Indemnitee with respect to the same Proceeding; provided that (i) Indemnitee shall have
the right to employ separate counsel in any such Proceeding at Indemnitee’s expense and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have reasonably
concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of such defense, or (C) the Company shall not continue to retain such counsel to defend such Proceeding, then the fees and expenses actually
and reasonably incurred by Indemnitee with respect to his or her separate counsel shall be Expenses hereunder. 
 (c) In the event that the
Company does not assume the defense in a Proceeding pursuant to paragraph (b) above, then the Company will be entitled to participate in the Proceeding at its own expense. 

(d) The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected
without its prior written consent (which consent shall not be unreasonably withheld or delayed). The Company shall not, without the prior written consent of Indemnitee (which consent shall not be unreasonably withheld or delayed), enter into any
settlement which (i) includes an admission of fault of Indemnitee, any non-monetary remedy imposed on Indemnitee or any monetary damages for which Indemnitee is not wholly and actually indemnified
hereunder or (ii) with respect to any Proceeding with respect to which Indemnitee may be or is made a party or may be otherwise entitled to seek indemnification hereunder, does not include the full release of Indemnitee from all liability in
respect of such Proceeding. 
 Section 10. Procedure Upon Application for Indemnification. 

(a) Upon written request by Indemnitee for indemnification pursuant to Section 9(a), a determination, if such determination is required
by applicable law, with respect to Indemnitee’s entitlement to indemnification hereunder shall be made in the specific case by one of the following methods: (x) if a Change in Control shall have occurred, by Independent Counsel in a
written opinion to the Board; or (y) if a Change in Control shall not have occurred: (i) by a majority vote of the disinterested directors, even though less than a quorum; (ii) by a committee of disinterested directors designated by a
majority vote of the disinterested directors, even though less than a quorum; or (iii) if there are no disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion to the Board. For purposes
hereof, disinterested directors are those members of the Board who are not parties to the action, suit or proceeding in respect of which indemnification is sought. In the case that such determination is made by Independent Counsel, a copy of
Independent Counsel’s written opinion shall be delivered to Indemnitee and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within thirty (30) days after such

  
 6 

 
determination. Indemnitee shall cooperate with the Independent Counsel or the Company, as applicable, in making such determination with respect to Indemnitee’s entitlement to
indemnification, including providing to such counsel or the Company, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any out-of-pocket costs or expenses (including reasonable attorneys’ fees and disbursements) actually and reasonably
incurred by Indemnitee in so cooperating with the Independent Counsel or the Company shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and
agrees to hold Indemnitee harmless therefrom. 
 (b) If the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 10(a), the Independent Counsel shall be selected by the Board if a Change in Control shall not have occurred or, if a Change in Control shall have occurred, by Indemnitee. Indemnitee or the Company, as the case may
be, may, within ten (10) days after written notice of such selection, deliver to the Company or Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on
the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such
assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and
until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within twenty (20) days after the later of (i) submission by Indemnitee of a written request for indemnification pursuant to
Section 9(a), and (ii) the final disposition of the Proceeding, including any appeal therein, no Independent Counsel shall have been selected without objection, either Indemnitee or the Company may petition the Delaware Court for
resolution of any objection which shall have been made by Indemnitee or the Company to the selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court
shall designate. The person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 10(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant
to Section 12(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 

Section 11. Presumptions and Effect of Certain Proceedings. 

(a) To the extent permitted by applicable law, in making a determination with respect to entitlement to indemnification hereunder, it shall be
presumed that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making of any determination contrary to that presumption. Neither (i) the failure of the Company or of Independent Counsel to have made a determination prior to the commencement of any action pursuant to
this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company or by Independent Counsel that Indemnitee has not met such
applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

  
 7 

 (b) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of guilty, nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or
create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had
reasonable cause to believe that his or her conduct was unlawful. 
 (c) The knowledge and/or actions, or failure to act, of any director,
manager, partner, officer, employee, agent or trustee of the Company, any subsidiary of the Company, or any Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

Section 12. Remedies of Indemnitee. 

(a) Subject to Section 12(f), in the event that (i) a determination is made pursuant to Section 10 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made
pursuant to Section 10(a) of this Agreement within sixty (60) days after receipt by the Company of the request for indemnification for which a determination is to be made other than by Independent Counsel, (iv) payment of
indemnification or reimbursement of expenses is not made pursuant to Section 5 or 6 or the last sentence of Section 10(a) of this Agreement within thirty (30) days after receipt by the Company of a written request therefor (including
any invoices received by Indemnitee, which such invoices may be redacted as necessary to avoid the waiver of any privilege accorded by applicable law) or (v) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not
made within thirty (30) days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication by the Delaware Court of his or her entitlement to such indemnification or
advancement. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence
such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the
foregoing time limitation shall not apply in respect of a proceeding brought by Indemnitee to enforce his or her rights under Section 5 of this Agreement. The Company shall not oppose Indemnitee’s right to seek any such adjudication or
award in arbitration. 
 (b) In the event that a determination shall have been made pursuant to Section 10(a) of this Agreement that
Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 12 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be
prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 12, the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement, as
the case may be. 

  
 8 

 (c) If a determination shall have been made pursuant to Section 10(a) of this Agreement
that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent (i) a misstatement by Indemnitee of a material fact,
or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12 that
the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. 

(e) The Company shall indemnify Indemnitee to the fullest extent permitted by law against any and all Enforcement Expenses and, if requested
by Indemnitee, shall (within thirty (30) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Enforcement Expenses to Indemnitee, which are incurred by Indemnitee in connection with
any action brought by Indemnitee for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company in the suit for which indemnification or
advancement is being sought. Such written request for advancement shall include invoices received by Indemnitee in connection with such Enforcement Expenses but, in the case of invoices in connection with legal services, any references to legal work
performed or to expenditures made that would cause Indemnitee to waive any privilege accorded by applicable law need not be included with the invoice. 

(f) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement
shall be required to be made prior to the final disposition of the Proceeding, including any appeal therein. 
 Section 13. Non-exclusivity; Survival of Rights; Insurance; Primacy of Indemnification; Subrogation. 
 (a) The
rights of indemnification and to receive advancement as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote
of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or
omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement than would
be afforded currently under the Charter, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended
to be 

  
 9 

 
exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or
in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

(b) To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, managers, partners,
officers, employees, agents or trustees of the Company or of any other Enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director,
manager, partner, officer, employee, agent or trustee under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company
shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to
pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 
 (d)
In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such
rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 (e) The
Company’s obligation to provide indemnification or advancement hereunder to Indemnitee who is or was serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee of any other Enterprise shall be
reduced by any amount Indemnitee has actually received as indemnification or advancement from such other Enterprise. 
 Section 14.
Duration of Agreement. This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a director of the Company or (b) one (1) year after the
final termination of any Proceeding, including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement hereunder and of any proceeding commenced by Indemnitee pursuant to Section 12 of this
Agreement relating thereto. This Agreement shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his or her heirs, executors and administrators. The Company shall require and cause any
successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to
Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

Section 15. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable
for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be
invalid, 

  
 10 

 
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted
by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be
construed so as to give effect to the intent manifested thereby. 
 Section 16. Enforcement. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Indemnitee to serve or continue to serve as a director of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director of the Company. 

(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Charter, the
Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

Section 17. Modification and Waiver. No supplement, modification or amendment, or waiver of any provision, of this Agreement shall
be binding unless executed in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing
waiver. No supplement, modification or amendment of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee prior to such supplement,
modification or amendment. 
 Section 18. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon
being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification, reimbursement or advancement as provided hereunder. The failure of
Indemnitee to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise. 

Section 19. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be
deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (ii) mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed, (iii) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (iv) sent by facsimile transmission,
with receipt of oral confirmation that such transmission has been received: 

  
 11 

 (a) If to Indemnitee, at such address as Indemnitee shall provide to the Company. 

(b) If to the Company to: 
 Xeris
Biopharma Holdings, Inc. 
 180 North LaSalle Street, Suite 1600 

Chicago, Illinois 60601 

Attention: Paul Edick 
 or to any other address
as may have been furnished to Indemnitee by the Company. 
 Section 20. Contribution. To the fullest extent permissible under
applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding in such proportion as is deemed fair and reasonable in light of all of the circumstances in order to reflect
(i) the relative benefits received by the Company and Indemnitee in connection with the event(s) and/or transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees
and agents) and Indemnitee in connection with such event(s) and/or transactions. 
 Section 21. Internal Revenue Code
Section 409A. The Company intends for this Agreement to comply with the Indemnification exception under Section 1.409A-1(b)(10) of the regulations promulgated under the Internal
Revenue Code of 1986, as amended (the “Code”), which provides that indemnification of, or the purchase of an insurance policy providing for payments of, all or part of the expenses incurred or damages paid or payable by Indemnitee
with respect to a bona fide claim against Indemnitee or the Company do not provide for a deferral of compensation, subject to Section 409A of the Code, where such claim is based on actions or failures to act by Indemnitee in his or her capacity
as a service provider of the Company. The parties intend that this Agreement be interpreted and construed with such intent. 

Section 22. Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed
by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 12(a) of this Agreement, the
Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court, and not in any other state or federal court
in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement,
(iii) consent to service of process at the address set forth in Section 19 of this Agreement with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive any objection to the
laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient
forum. 

  
 12 

 Section 23. Headings. The headings of the paragraphs of this Agreement are
inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

Section 24. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this
Agreement. 
 [Remainder of Page Intentionally Left Blank] 

  
 13 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and
year first above written. 
  

			
	XERIS BIOPHARMA HOLDINGS, INC.
		
	By:	 	 
		 	Name: Paul Edick
		 	 Title: Chief Executive Officer

  

	
	INDEMNITEE
	
	   

	    Name: [___]

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