SECOND AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT
THIS SECOND AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Amendment”) is made effective as of this 1st day of April 2020 (the “Amendment Effective Date”) by and between RICHARD I. EISENSTADT (“Executive”) and NEOS THERAPEUTICS, INC., a Delaware corporation (the “Company”). Company and the Executive collectively are referred to as the “Parties.”
WHEREAS, the Executive is a party to an Amended and Restated Employment Agreement with the Company dated as of July 10, 2015, which was subsequently amended on October 1, 2019 (collectively, the “Employment Agreement”); and
WHEREAS, the Company and the Executive desire to amend his Employment Agreement as provided herein.
NOW, THEREFORE, in consideration of the promises herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Company and the Executive hereto agree as follows:
(1) Terms not otherwise defined herein shall have the meanings ascribed to them in the Employment Agreement.
(2) Paragraph 4(c) of the Employment Agreement hereby is amended to add the following section (v) as of the Amendment Effective Date:
(v) Any stock options shall remain exercisable with respect to such vested shares for twelve (12) months following the Date of Termination (but in no event beyond the expiration date of such options).
In addition, the last sentence contained in Paragraph 4(c) of the Employment Agreement hereby is amended and restated in its entirety as of the Amendment Effective Date, as follows:
For the avoidance of doubt, except as otherwise modified in this Agreement, all stock options and other stock-based awards held by the Executive as of the Effective Date shall be treated as indicated in the applicable award agreements.
(3) The Parties agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the intent of this Amendment.
(4) This Amendment together with the Employment Agreement constitute the complete agreement of the Company and the Executive hereto with respect to the subject