Document:

EX-10.13

 Exhibit 10.13 

RECRO PHARMA, INC. 

2013 EQUITY INCENTIVE PLAN 

AWARD AGREEMENT 

FOR 
  

 
 We are pleased
to advise you that Recro Pharma, Inc. (the “Company”) hereby awards to you under the Recro Pharma, Inc. 2013 Equity Incentive Plan (the “Plan”) the right to purchase (an “Option”)
            shares of Common Stock of the Company (“Shares”), subject to your signing this Agreement. The date of award of the Options shall for all purposes be
            , 201     (the “Grant Date”). The Options issued hereunder are “non-qualified options” for tax purposes. 

This award is subject in all respects to the applicable provisions of the Plan, a complete copy of which has been furnished to you and receipt
of which you acknowledge by acceptance of the award. Such provisions are incorporated herein by reference and made a part hereof (including all defined terms). 

All capitalized terms used but not defined herein will have the meanings ascribed to them in the Plan. In addition to the terms, conditions
and restrictions set forth in the Plan, all terms, conditions and restrictions set forth in this Agreement are applicable to the award of Options as evidenced hereby: 

1. Vesting. The Options awarded by this Agreement shall vest ,i.e., become exercisable, in accordance with the
following schedule and conditions: 
 (a)             of the Options shall be
vested on the Grant Date;             of the Options shall vest on             , such that the Options shall be fully vested on
            ; provided, however, that no portion of the Options shall vest unless you continue to serve as             of
the Company on the applicable vesting date. 
 (b) Notwithstanding the foregoing, any unvested Options shall become immediately and fully
vested upon your death, Disability or a Change in Control, provided you are serving as a director the Company immediately prior to the date of such event. 

2. Expiration of Option. Your rights with respect to your Options, whether vested or unvested, shall expire on the
earliest to occur of the following: 
 (a) three months after termination of your service with the Company and/or its affiliates for any
reason other than death, Disability, or Cause; 
 (b) one year after termination of your service with the Company and/or its affiliates due
to death or Disability; 

 (c) the date and time of termination of your service with the Company and/or its affiliates for
Cause; and 
 (d) the tenth anniversary of the Grant Date. 

3. Exercise of Options. 

(a) The exercise price for each Share under your Option is $            (the
“Option Price”). 
 (b) In order to exercise any Option which has vested, you must (i) provide the Company with written notice
of your intention to exercise the Option and the number of Shares you intend to acquire, (ii) execute a counterpart to any shareholders agreement or other agreement as requested by the Company which has been executed by other shareholders of
the Company and is in effect at the time of exercise (collectively, “Shareholders Agreement”), and (iii) deliver a check for the Option Price multiplied by the number of Shares being acquired or such other manner of payment as
approved by the Company. As an alternative to delivering a check you may choose to exercise any vested Option hereunder on a “cashless” basis. Under this method, you do not have to remit the Option Price under the option in cash. Instead,
the Option Price is paid by reducing the number of Shares otherwise issuable to you upon exercise by such number of Shares having a Fair Market Value (determined at the time of exercise) equal to the Option Price. You shall only have rights as a
shareholder of the Company with respect to Shares which have been issued after the Options have vested and been exercised. 

4. Withholding. The Company shall withhold all applicable income and employment taxes on the date of
exercise, cash-out of Options or such other date as required by the Code. If there is insufficient compensation due from the Company to you at the time such withholding is due, the Company shall have the right, prior to delivery of any certificate
or certificates for Shares, to require you to remit to the Company an amount equal to the excess of your share of the income and employment taxes subject to withholding over the amount of compensation then due from the Company to you. 

5. Registration of Shares. The Company may postpone the issuance and delivery of any Shares until the completion or
amendment of any registration or qualification of the shares under any federal or state law, rule or regulation which the Company may determine to be necessary or advisable. In the event that, at the time of issuance of the Shares to you, the Shares
have not been registered or otherwise qualified as may be required under applicable securities laws, you shall, prior to the issuance of the Shares: (i) represent to the Company in form satisfactory to counsel for the Company, that you are
acquiring the Shares for your own account and not with a view to the resale or distribution thereof, and (ii) agree that none of the Shares issued to you pursuant to exercise of the Option provided hereby may be sold, transferred or otherwise
disposed of unless: (a) the Shares to be sold, transferred or otherwise disposed of will be registered or qualified under applicable securities laws at the time of such sale, transfer or other disposition and the Company has received an opinion
of counsel satisfactory to it that such registration or qualification is effective; or (b) the Company shall have received an opinion of counsel or other information and representations, satisfactory to it, to the effect that such registration
or qualification is not required. You shall also consent to execute any market standoff or lock-up agreement as requested by the Company. 

  
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 6. No Right of Continued Employment or Service. Nothing contained in the
Plan or this Agreement shall restrict the right of the Company and/or its affiliates to terminate your employment or service. Any termination of your employment or service, regardless of the reason therefor, shall have the consequences provided for
in the Plan and this Agreement with respect to your rights under the Plan. 
 7. Company’s Right of First Refusal
Before any Shares issued under the Options held by you or any transferee (either referred to as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company shall have a right of first
refusal, to purchase the Shares on the terms and conditions set forth in this Section (the “Right of First Refusal”). 
 (a) The
Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each proposed purchaser or
other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Shares
(the “Offered Price”). 
 (b) At any time within thirty (30) days after receipt of the Notice, the Company may, by giving
written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 

(c) The purchase price (“Purchase Price”) for the Shares purchased by the Company under this Section shall be the Offered Price. If
the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good faith. Payment of the Purchase Price shall be made, at the option
of the Company in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company or by any combination thereof within 30 days after receipt of the Notice or in the manner and at the times set forth
in the Notice. 
 (d) If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the
Company as provided in this Section, then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within 120 days after the
date of the Notice, that any such sale or other transfer is effected in accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section shall continue to apply to the Shares in
the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered
the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred. 

  
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 (e) The Right of First Refusal shall terminate as to any Shares upon the first sale of common
stock of the Company to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended. 

(f) To the extent that the provisions of this Section 7 conflict with the terms of any Shareholders Agreement to which the Holder is a
party or by which such Holder is bound, the terms of such Shareholders Agreement shall govern. 
 8. Company’s Repurchase
Right. 
 (a) You understand that following your termination of employment or service with the Company and its affiliates, the
Company shall have the right to purchase from you in accordance with the terms of this Section any and all Shares that you acquire pursuant to an exercise of an Option at a price per Share equal to the Fair Market Value thereof as of the date of
repurchase (the “Repurchase Right”). 
 (b) The Company may elect to purchase the Shares acquired under an Option by delivery of
written notice (the “Purchase Notice”) to you at any time. The Purchase Notice will set forth the number of Shares to be acquired from you, the aggregate consideration to be paid for such Shares and the time and place for the closing of
the transaction. 
 (c) The closing of the repurchase transaction will take place on the date designated by the Company in the Purchase
Notice, which date will not be more than thirty (30) days nor less than ten (10) days after the delivery of such notice. The Company will pay for the Option Shares to be purchased pursuant to the Purchase Notice in a cash payment. At the
closing, you will deliver the certificates representing the Shares to be sold duly endorsed in form for transfer to the Company, and the Company will be entitled to receive customary representations and warranties from you regarding the Shares. 

(d) The Repurchase Right shall terminate as to any Shares upon the first sale of common stock of the Company to the general public pursuant to
a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended. 

9. Amendment. Except for limited circumstances provided for at Plan Section 17(b), which permit the company to make
certain unilateral amendments, this Agreement may be amended, in whole or in part and in any manner not inconsistent with the provisions of the Plan, at any time and from time to time, by written agreement between the Company and you. 

10. Notice. Any notice to be given to the Company shall be in writing and either hand delivered or mailed to the office
of the President of the Company. If mailed, it shall be addressed to the Company at 490 Lapp Road, Malvern, PA 19355. Any notice given to you shall be addressed to you at your address as reflected in the personnel records of the Company, or at such
other address as either party hereto may hereafter designate by like notice to the other. Notice shall be deemed to have been duly delivered when hand delivered or, if mailed, on the fifth day after such notice is postmarked. 

  
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 The undersigned hereby acknowledges the award of Options on behalf of the Company. 

 

			
	RECRO PHARMA, INC.
		
	By:	 	 
		 	Gerri Henwood, President

 In order to indicate your acceptance of the award of Options granted by this Agreement subject to the
restrictions and upon the terms and conditions set forth above and in the Plan, please execute and immediately return to the Company the enclosed duplicate original of this Agreement. 

 

	
	ACCEPTED AND AGREED,
	Intending to be legally bound:
	
	   

	Holder’s Signature
	
	   

	Date

  
 -5-EX-10.14

 Exhibit 10.14 

MASTER CONSULTING SERVICES AGREEMENT 

This Master Consulting Services Agreement (this “Agreement”) is made and entered into as of this 10th day of October, 2013, by and
between Malvern Consulting Group, Inc., a Pennsylvania corporation (“Consultant”) and Recro Pharma, Inc., a Pennsylvania corporation (“Client”). 

WHEREAS, Client desires that Consultant provide certain consulting and related services (collectively, “Services”), as agreed by the
parties from time to time, and Consultant desires to provide such Services, each in accordance with the terms and conditions hereof. 

NOW THEREFORE, in consideration of the mutual covenants and conditions set forth herein, and intending to be legally bound hereby, each
of Consultant and Client agrees as follows: 
  

	1.	SERVICES 

 This Agreement shall govern all Services provided by Consultant to
Client during the term hereof. Client shall order any Services from Consultant by signing a work order in substantially the form attached hereto as Exhibit A (each, a “Work Order”), specifying, among other things, the Services to be
performed and the deliverables to be delivered (“Deliverables”) by Consultant to Client thereunder. No Work Order shall be effective until countersigned by an authorized Consultant representative. In the event of any conflict between this
Agreement and any accepted Work Order, the terms of the Work Order shall govern. 
  

	2.	CLIENT OBLIGATIONS 

 2.1 On-Site Facilities. If requested by Consultant,
during the term hereof and/or of any Work Order, Client shall provide to Consultant, free-of-charge, suitable offices and facilities at Client’s place of business, access to Client personnel, assistance, input, technical equipment and all other
resources necessary or appropriate to allow Consultant to perform the Services. 
 2.2 Products. Client shall provide to Consultant,
free-of-charge, all pharmaceutical, biopharmaceutical and/or biochemical compounds (the “Products”) necessary or appropriate to Consultant’s provision of the Services. 

2.3 Compliance with Laws. Unless specifically provided for in a Work Order, Client shall be solely responsible for ensuring that
performance of its obligations and exercise of its rights under this Agreement (including, without limitation, its handling and provision to Consultant of the Products and the Client Content (as defined below)) comply with all federal, state and
local laws, rules, regulations and orders (collectively, “Laws”), including, without limitation, all present and future laws and regulations relating to the shipment, storage and handling of hazardous materials and the privacy of, or data
protection for, individually identifiable or aggregate medical, financial or other information. 

	3.	PROPRIETARY RIGHTS 

 3.1 Deliverables. Subject to the provisions of
Sections 3.2 through 3.4 hereof, upon payment of all Fees hereunder, ownership of all Deliverables resulting from, or delivered to Client in connection with, the Services shall vest in Client. 

3.2 Pre-Existing Materials. Client acknowledges and agrees that in the event a Deliverable includes any Pre-Existing Materials, such
Pre-Existing Materials shall, as between Consultant and Client, be and remain the sole and exclusive property and Confidential Information (as defined in Section 8.1 hereof) of Consultant. “Preexisting Materials” means any data,
formulas, know-how, calculations, compilations, programs, drawings, products, devices, technology, equipment configurations, equipment purchase costs, manufacturing and process costs, technical studies, research and development efforts, trial
results, regulatory processes and any knowledge or information relating thereto created, developed or authored by or for Consultant prior to, or outside the scope of, the Services or that have general applicability to Consultant’s business, and
all modifications, improvements and enhancements thereto and derivative works thereof. Subject to Client’s payment of all Fees hereunder, Consultant hereby grants to Client a non-exclusive, non-transferable license (without the right to
sublicense) to use such Pre-Existing Materials as part of and in connection with the Deliverables solely for Client’s internal business purposes, and not in competition with Consultant’s business or for any other purpose whatsoever. 

3.3 Client Content. As between Client and Consultant, all preexisting works of authorship and other items or materials, or portions
thereof, provided by Client to Consultant for incorporation or integration into any Deliverable hereunder (“Client Content”), shall be and remain the sole and exclusive property of Client. Client acknowledges and agrees that Client is
solely responsible for all Client Content. Client shall have sole responsibility for obtaining necessary licenses, clearances, registrations and approvals for any Client Content created by third parties. Without limiting the generality of the
foregoing, Client represents and warrants to Consultant that neither its provision of the Client Content to Consultant, nor Consultant’s use thereof as contemplated herein and/or in any Work Order, shall infringe or otherwise violate any
patent, copyright, trademark, trade secret, confidentiality or other proprietary right of any third party. 
 3.4 Confidential
Information. Notwithstanding anything to the contrary herein, each party shall be and remain the sole and exclusive owner of such party’s Confidential Information (as defined in Section 8.1 hereof). 

 

	4.	PAYMENT 

 4.1 Fees and Other Compensation. In consideration of the Services
and Deliverables, Client shall pay to Consultant the fees set forth in the applicable Work Order (the “Fees”). In the event that Client requests new Services and/or Deliverables or changes in the scope of the Services and/or Deliverables
to be provided under any Work Order, Consultant shall provide Client with a new or amended Work Order detailing such Services and/or Deliverables and the Fees applicable thereto. If accepted by Client, the Services and/or Deliverables will then be
invoiced according to such Work Order. Any new or amended Work Order shall be subject to the terms and conditions of this Agreement. 

  
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 4.2 Expenses. Client shall pay or reimburse Consultant for all out-of-pocket expenses
actually incurred by Consultant in performing the Services and/or providing the Deliverables, including, without limitation, travel to and from Client’s site, mileage, room and board, telephone and photocopying expenses, as well as the actual
costs of materials and third-party services utilized by Consultant in performing the Services or providing the Deliverables (collectively, “Expenses”). 

4.3 Payment Terms. Except as otherwise provided in the applicable Work Order, all Fees and Expenses are immediately due and payable
upon invoice therefor. All payments shall be made in U.S. currency. Any sum not paid by Licensee within thirty (30) days after the invoice date shall bear interest until paid at a rate of 1.5% per month (18% per annum), or the maximum rate
permitted by law, whichever is less. Client shall bear and be solely responsible for the costs, including without limitation, reasonable attorneys’ fees and court costs, incurred by Consultant in connection with Consultant’s collection of
any past-due amounts under this Agreement. Client shall bear and be solely responsible for the payment of all taxes levied or assessed in connection with the Services, Deliverables and/or this Agreement, if any, including, but not limited to, all
sales, use and value-added or other taxes (but excluding taxes based solely upon Consultant’s income). 
  

	5.	LIMITED WARRANTY 

 Consultant warrants to Client that the Services shall be
performed in a professional and workerlike fashion. EXCEPT AS EXPRESSLY PROVIDED IN THE FOREGOING SENTENCE, CONSULTANT PROVIDES THE SERVICES, DELIVERABLES AND PRE-EXISTING MATERIALS “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR
IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF TITLE, NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Without limiting the generality of the foregoing, Consultant does not warrant that: (i) any of the
Services, Deliverables or Pre-Existing Materials shall be complete or error free, (ii) results, specifications, processes, compounds or functions contained in or provided by the Services, Deliverables or Pre-Existing Materials shall operate in
combinations which may be selected for use by Client, or (iii) the Services, Deliverables or Pre-Existing Materials will meet Client’s requirements. Any proposals or documentation attached to this Agreement or to any Work order shall not
modify or expand the warranty provided in this Section 5. Consultant makes no warranty whatsoever, and shall have no liability to Client or others, with respect to third party services or information provided as part of the Services,
Deliverables or Pre-Existing Materials. 
  

	6.	DISCLAIMERS AND LIMITATIONS OF LIABILITY 

 6.1 No Liability for Certain
Damages. OTHER THAN IN CONNECTION WITH A BREACH OF A CONFIDENTIALITY OBLIGATION OR THE WILLFUL INFRINGEMENT OF AN INTELLECTUAL PROPERTY RIGHT OF A THIRD PARTY BY CONSULTANT, CONSULTANT SHALL NOT BE LIABLE TO CLIENT OR ANY OTHER PARTY FOR ANY

  
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INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY OR PUNITIVE DAMAGES IN CONNECTION WITH ANY SERVICES PERFORMED OR DELIVERABLES OR PRE-EXISTING MATERIALS PROVIDED HEREUNDER, EVEN IF
CONSULTANT HAS BEEN NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. 
 6.2 Limit on Damages. OTHER THAN IN CONNECTION WITH A BREACH OF A
CONFIDENTIALITY OBLIGATION OR THE WILLFUL INFRINGEMENT OF AN INTELLECTUAL PROPERTY RIGHT OF A THIRD PARTY BY CONSULTANT, IN NO EVENT SHALL CONSULTANT’S LIABILITY TO CLIENT WITH RESPECT TO ANY SERVICES PERFORMED OR DELIVERABLES OR PRE-EXISTING
MATERIALS PROVIDED UNDER THIS AGREEMENT EXCEED THE FEES ACTUALLY PAID BY CLIENT FOR SUCH SERVICES OR DELIVERABLES OR PRE-EXISTING MATERIALS DURING THE TWELVE (12) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO SUCH LIABILITY. 

6.3 Acknowledgment. IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT EACH PROVISION OF THIS AGREEMENT WHICH PROVIDES FOR A LIMITATION OF
LIABILITY, DISCLAIMER OF WARRANTIES, INDEMNIFICATION OR EXCLUSION OF DAMAGES OR OTHER REMEDY IS INTENDED TO BE ENFORCED AS SUCH. FURTHER, IT IS EXPRESSLY UNDERSTOOD AND AGREED THAT IN THE EVENT ANY REMEDY UNDER THIS AGREEMENT IS DETERMINED TO HAVE
FAILED OF ITS ESSENTIAL PURPOSE, ALL LIMITATIONS OF LIABILITY AND EXCLUSIONS OF DAMAGES OR OTHER REMEDIES SHALL REMAIN IN EFFECT. 
  

	7.	INDEMNIFICATION 

 7.1 Client shall defend, indemnify and hold Consultant and its
officers, directors, employees and agents harmless from and against any losses, liabilities, damages, demands, penalties and expenses (including, without limitation, court costs and attorneys’ fees) (collectively, “Losses”) arising
out of or in connection with (a) Client’s use of any Service, Deliverable or Pre-Existing Materials, (b) the conduct any clinical study included in the Services, (c) the Products, or (d) any breach by Client, its employees,
agents or contractors of any representation, warranty or covenant of Client hereunder, other than any Losses resulting from the gross negligence or willful misconduct of Consultant. 

7.2 Consultant shall defend, indemnify and hold Client and its officers, directors, employees and agents harmless from and against any Losses
arising out of or in connection with the gross negligence or willful misconduct of Consultant. 
  

	8.	CONFIDENTIAL INFORMATION 

 8.1 Confidential Information. For purposes of
this Agreement, the term “Confidential Information” means any information disclosed in a writing marked “Confidential” (or disclosed orally and reduced to a writing marked “Confidential” within 10 days after the oral
disclosure) to a party (“Recipient”) or its affiliates, subsidiaries, representatives, counsel, shareholders, directors, officers, employees, agents or consultants (“Representatives”), by the other party (the “Disclosing
Party”) or its Representatives. Confidential Information shall not include any 

  
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information which (i) is or becomes available to the public other than as the consequence of a breach of any obligation of confidentiality; (ii) is actually known to or in the
possession of Recipient without any limitation on use or disclosure prior to receipt from the Disclosing Party; (iii) is received from a third party in possession of such information who is not, to the knowledge of Recipient, under obligation
to the Disclosing Party not to disclose the information; or (iv) is independently developed by Recipient or its Representatives without access to the Confidential Information. 

8.2 Non-Disclosure of Confidential Information. Recipient and its Representatives shall hold in strict confidence and trust all
Confidential Information and shall not disclose, sell, rent or otherwise provide or transfer, directly or indirectly, any Confidential Information to any person or entity without the prior written consent of the Disclosing Party. Notwithstanding the
preceding sentence to the contrary, Recipient may disclose Confidential Information to its Representatives who need to know such information to enable Recipient to perform its obligations hereunder and who agree to be bound by the terms of this
Section 8, and then only to the extent necessary to carry out the legitimate use of the Confidential Information. Recipient and its Representatives shall use the Confidential Information only in connection with the performance of its
obligations hereunder and not for any other purpose whatsoever. 
 8.3 Compelled Disclosure. Notwithstanding the foregoing, Recipient
shall be permitted to disclose Confidential Information pursuant to a court order, government order or any other legal requirement of disclosure if no suitable protective order or equivalent remedy is available, provided that Recipient gives the
Disclosing Party written notice of such court order, government order or legal requirement of disclosure immediately upon knowledge thereof and allows the Disclosing Party a reasonable opportunity to seek to obtain a protective order or other
appropriate remedy prior to such disclosure to the extent permitted by law, and further provided that Recipient shall furnish only that portion of the Confidential Information which it is advised by a written opinion of counsel is legally required.

 8.4 Return or Destruction of Confidential Information. Upon expiration or termination of this Agreement or upon the earlier
written request of the Disclosing Party, Recipient shall promptly return to the Disclosing Party or, at the Disclosing Party’s option, destroy any and all Confidential Information received by Recipient or its Representatives from or on behalf
of the Disclosing Party, including any and all copies or duplicates of the Confidential Information or summaries or synopses thereof prepared by Recipient or its Representatives. 

 

	9.	TRADEMARKS 

 Each of Consultant and Client shall own and retain all rights to such
party’s trade names, trademarks, logos and service marks (collectively, “Marks”), and all goodwill generated thereby shall inure to the benefit of such party. Client hereby grants Consultant a non-exclusive right and license to use
Client’s Marks as necessary or appropriate in performing the Services and providing the Deliverables hereunder and/or in printed and online advertising, publicity, directories, newsletters, and updates describing Consultant’s Services.

  
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	10.	FORCE MAJEURE 

 Neither party shall be liable for any failure to perform, or any
delay in performing, its obligations under this Agreement (other than any obligation to make payments due and owing hereunder), that arises out of, is caused by or results from an event beyond its reasonable control, including, without limitation,
acts of God, acts of war, acts or omissions of the other party or third parties, court orders, acts or regulations of governmental bodies, accidents, fires, floods, unusual weather conditions, strikes, labor disputes, failures or fluctuations in
electrical power, heat, light, air conditioning or telecommunications equipment or lines, or other equipment failure. In the event that any such circumstances do arise, occur or result, the party subject thereto shall use commercially reasonable
efforts to overcome such circumstances as soon as practicable. 
  

	11.	TERM AND TERMINATION 

 11.1 Term. The term of this Agreement shall commence
on the date hereof and shall continue until terminated pursuant to this Section 11. 
 11.2 Termination. This Agreement and/or
any Work Order may be terminated as follows: 
  

	 	(a)	By either party, upon material breach of this Agreement or any Work Order by the other party (or, in the case of termination of a Work Order, a material breach of the applicable Work Order), which breach remains uncured
thirty (30) days after written notice thereof is given to the breaching party; 

  

	 	(b)	By either party, immediately if the other party ceases to actively conduct its business, admits in writing its inability to pay its debts generally as they become due, makes a general assignment for the benefit of
creditors, institutes proceedings to be adjudicated a voluntary bankrupt or consents to the filing of a petition of bankruptcy against it, is adjudicated by a court of competent jurisdiction as being bankrupt or insolvent, seeks reorganization under
any bankruptcy act or consents to the filing of a petition seeking such reorganization, or has a decree entered against it by a court of competent jurisdiction appointing a receiver, liquidator, trustee, or assignee in bankruptcy or in insolvency
covering all or substantially all of such party’s property or providing for the liquidation of such party’s property or business affairs; or 

  

	 	(c)	By Consultant, upon no less than thirty (30) days prior written notice to Client. 

  

	 	(d)	By Client, upon no less than thirty (30) days prior written notice to Consultant. 

 11.3
Effect of Termination. Upon termination of this Agreement by either party, Client shall promptly, in accordance with the terms of this Agreement, pay to Consultant all Fees 

  
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and other amounts due for Services performed and Deliverables provided through the effective date of such termination, together with all Expenses incurred by Consultant in its performance
hereunder through such date. 
 11.4 Survival. The provisions of Sections 2.3, 3, 4, 5, 6, 7, 8, 9, 10, 11.3, 11.4, 12 and 13, as
well as any other provisions of this Agreement necessary to interpret the respective rights and obligations of the parties hereunder, shall survive the expiration or termination of this Agreement. 

 

	12.	NON-SOLICITATION 

 12.1 During the term of this Agreement and for a period of one
(1) year thereafter, each party agrees not to recruit, solicit, employ or utilize, for itself or others, the employees of the other party, unless otherwise agreed in writing. 

12.2 The parties hereto agree that the Consultant may accept other consulting assignments and engage in other business activities, provided
they do not interfere with the Consultant’s obligations under this Agreement. 
  

	13.	MISCELLANEOUS PROVISIONS 

 13.1 Independent Contractor. In making and
performing this Agreement, Consultant shall be deemed to be acting as an independent contractor of Client. Neither party shall be deemed a principal, agent, legal representative, joint venturer or partner of the other. Except as expressly provided
in a Work Order with respect to Consultant’s ability to bind Client, neither party is authorized to bind the other to any obligation, affirmation or commitment with respect to any other person or entity. In addition, neither party’s
employees shall be deemed to be employees of the other party for any purpose whatsoever. 
 13.2 Binding Effect; Assignment. All of
the terms, conditions and provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties’ respective successors and permitted assigns. Except as otherwise provided in Section 13.3 hereof, neither party may
assign this Agreement or any of its rights or obligations hereunder without the prior written consent of the other party. Any attempted assignment in violation of this Section 13.2 shall be null and void and of no force or effect. 

13.3 Subcontractors. Consultant may use subcontractors or suppliers to provide some or all of the Services or Deliverables. Consultant
shall be responsible for ensuring that said subcontractors and suppliers comply with the provisions of this Agreement. 
 13.4 Third
Party Beneficiaries. Except as expressly stated herein, nothing in this Agreement shall confer any rights upon any person other than the parties and their respective successors and permitted assigns. 

13.5 Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of
Pennsylvania, without giving effect to its principles governing conflicts of law. Any dispute arising out of or in connection with this Agreement shall be adjudicated exclusively in the state or federal courts having jurisdiction over Chester
County, Pennsylvania, and all parties consent to personal jurisdiction and venue therein. 

  
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 13.6 Equitable Relief. Each party agrees that either party’s violation of the
provisions or covenants of this Agreement contained in Sections 3 (Proprietary Rights), 8 (Confidential Information) and 12 (Non-Solicitation) will cause immediate and irreparable harm to the other party for which money damages will not constitute
an adequate remedy at law. Therefore, the parties agree that, in the event either party breaches or threatens to breach said provisions or covenants, the other party shall be entitled to injunctive and/or other preliminary or equitable relief, in
addition to any other remedies available at law, without having to prove actual damages or to post a bond. 
 13.7 Notices. All
notices, consents, waivers or other communications which are required or permitted hereunder will be sufficient if given in writing and delivered personally, by overnight mail service, by facsimile transmission or electronic mail (with receipt
confirmed) or by registered or certified mail, return receipt requested, postage prepaid, to the parties at the addresses set forth below (or to such other addressee or address as will be set forth in a notice given in the same manner): 

To Consultant: 
 Malvern
Consulting Group, Inc. 
 490 Lapp Road 

Malvern, PA 19355 
 Attention:
Matthew Henwood, President 
 Fax No.: 484-395-2401 

Email: mhenwood@malvernconsultinggroup.com 

To Client: 
 Recro Pharma, Inc.

 490 Lapp Road 
 Malvern, PA
19355 
 Attention: Wayne Weisman, 

Chairman of the Board 
 Fax No.:
484-395-2471 
 Email: wweisman@scpvitalife.com 

All such notices will be deemed to have been given three (3) business days after mailing if sent by registered or certified mail, one (1) business
day after mailing if sent from within the United States by overnight courier service, or on the date delivered if delivered personally or sent by facsimile or electronic mail. 

13.8 Entire Agreement; Amendment. This Agreement, together with all approved Work Orders, sets forth the entire understanding of the
parties with respect to the subject matter hereof and thereof, and supersedes all prior or simultaneous representations, discussions, negotiations, letters, proposals, agreements and understandings between the parties hereto with respect to the
subject matter hereof, whether written or oral. Terms and conditions of 

  
 8 

 
Consultant’s or Client’s pre-printed documents (e.g., purchase orders, order acknowledgements and the like) shall not apply to the Services performed or Deliverables provided hereunder.
This Agreement may be amended, modified or supplemented only by a written instrument duly executed by authorized representatives of each of the parties. 

13.9 Severability. Any provisions of this Agreement that are determined to be invalid or unenforceable in any jurisdiction shall be
ineffective to the extent of such invalidity or unenforceability in such jurisdiction, without rendering invalid or unenforceable the remaining provision of this Agreement or affecting the validity or enforceability of such provisions in any other
jurisdiction. If a court of competent jurisdiction declares any provision of this Agreement to be invalid or unenforceable, the parties hereto agree that the court making such determination shall have the power to reduce the scope, duration, or area
of the provision, to delete specific words or phrases, or to replace the provision with a provision that is valid and enforceable and that comes closest to expressing the original intention of the parties hereto, and this Agreement shall be
enforceable as so modified. 
 13.10 Waiver. Neither party will by mere lapse of time without giving notice or taking other action
hereunder be deemed to have waived any breach by the other party of any of the provisions of this Agreement. Further, the waiver by either party of a particular breach of this Agreement by the other party will not be construed as, or constitute, a
continuing waiver of such breach, or of other breaches of the same or other provisions of this Agreement. 
 13.11 Headings. Headings
used in this Agreement are for convenience of reference only and shall in no way be used to construe or limit the provisions herein. 

13.12 Counterparts. This Agreement may be executed in two or more counterparts, all of which shall constitute one and the same
instrument. Each such counterpart shall be deemed an original, and it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. 

[Execution page follows] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly
authorized representatives as of the date first set forth above. 
  

			
	MALVERN CONSULTING GROUP, INC.
	(“Consultant”)
		
	By:	 	 /s/ Matthew Henwood

		
	Name:	 	 Matthew Henwood

		
	Title:	 	 President

	
	RECRO PHARMA, INC.
	(“Client”)
		
	By:	 	 /s/ Wayne B. Weisman

		
	Name:	 	 Wayne B. Weisman

		
	Title:	 	 Chairman

 STATEMENT OF WORK “STOW” 

THIS STATEMENT OF WORK (“‘STOW”) dated and entered into as of this 7th day of October, 2013 (‘‘Effective Date”),
is entered into by and between Malvern Consulting Group. Inc. a Pennsylvania Corporation (“MCG”) with offices at 490 Lapp Road, Malvern, PA 19355 on behalf of Recro Pharma, Inc., hereinafter (“Client”) with offices at 490 Lapp
Rd., Malvern, PA 19355 pursuant to and subject to the terms and condition of the Agreement tor Services, dated 7 July, 2008 (“the Consulting Agreement’’) between the parties. 

 

			
	MCG Designee:	  	 Matthew Henwood
 Malvern Consulting Group,
Inc.
 490 Lapp Road
 Malvern, PA 19355

Tel: 484-395-2400

		
	Period of Performance:	  	October 7, 2013 until start of Phase HB Trial at which An additional STOW will be executed.
		
	Project Scope of Work:	  	Finalization of the Protocol for the Phase IIB trial as well as updating of Investigator’s Brochure, Annual Update Report to the IND, FDA correspondence as required as well as Manufacturing planning, acquisition of materials as
required and as budget permits, maintenance of stability samples and data collection process, and other items as required to maintain the product and the IND within compliance.
		
	Compensation:	  	Within pre agreed budgets, approved rates will be charged for professional services, and will be processed for payment upon provision of a detailed monthly invoices with time, duties, etc. provided for review by the Chairman of the
Board.

 ACCEPTED AND AGREED TO: 

 

			
	Malvern Consulting Group, Inc.
		
	By:	 	 /s/ Matthew Henwood

			
		
	Printed Name:	 	 Matthew Henwood

			
		
	Title:	 	 Regulatory Affairs Manager

		
	Date:	 	 10/10/13

 

			
	Recro Pharma, Inc.
		
	By:	 	 /s/ Wayne B. Weisman

			
		
	Printed Name:	 	 Wayne B. Weisman

			
		
	Title:	 	 Chairman

		
	Date:	 	 10/10/13

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