Common use of Prior Grant Clause in Contracts

Prior Grant. The Company and the Executive acknowledge and agree that, (i) in connection with the execution and delivery of the Original Agreement, Flamel granted to the Executive an option (the “Original Stock Option”) to purchase One Hundred Thousand (100,000) American Depositary Shares (ADSs), with each such ADS representing one (1) of Flamel’s ordinary shares, at an exercise price equal to the fair market value of the Flamel ADSs as of the date of grant of the Original Stock Option; (ii) the board of directors of Flamel approved the grant of the Original Stock Option; and (iii) pursuant to the Merger, Avadel adopted and assumed such Original Stock Option and, as a result, upon and after the Merger, the Original Stock Option became and is exercisable for an equal number of the ADSs of Avadel plc. The terms and conditions of the Original Stock Option (including the vesting provisions thereof) shall continue in effect as adopted and assumed by Avadel plc without modification by this Agreement.

Prior Grant. The Company and the Executive acknowledge and agree that, (i) in connection with the execution Executive’s initial employment by Legacy and delivery of the Original AgreementFlamel in 2013, Flamel granted to the Executive an option (the “Original Stock Option”) to purchase One Hundred Thousand (100,000) American Depositary Shares (ADSs), with each such ADS representing one (1) of Flamel’s ordinary shares, at an exercise price equal to the fair market value of the Flamel ADSs as of the date of grant of the Original Stock Option; (ii) the board of directors of Flamel approved the grant of the Original Stock Option; and (iii) pursuant to the Merger, Avadel adopted and assumed such Original Stock Option and, as a result, upon and after the Merger, the Original Stock Option became and is exercisable for an equal number of the ADSs of Avadel plc. The terms and conditions of the Original Stock Option (including the vesting provisions thereof) shall continue in effect as adopted and assumed by Avadel plc without modification by this Agreement.

Prior Grant. The Company and the Executive acknowledge and agree that, (i) in connection with the execution and delivery of the Original 2012 Employment Agreement, Flamel granted to the Executive an option (the “Original Stock Option”) to purchase One Two Hundred Seventy-Five Thousand (100,000275,000) American Depositary Shares (ADSs), with each such ADS representing one (1) of Flamel’s ordinary shares, at an exercise price equal to the fair market value of the Flamel ADSs as of the date of grant of the Original Stock Option; (ii) the board of directors of Flamel approved the grant of the Original Stock Option; and (iii) pursuant to the Merger, Avadel adopted and assumed such Original Stock Option and, as a result, upon and after the Merger, the Original Stock Option became and is exercisable for an equal number of the ADSs of Avadel plc. The terms and conditions of the Original Stock Option (including the vesting provisions thereof) shall continue in effect as adopted and assumed by Avadel plc without modification by this Agreement.

Prior Grant. The Company and the Executive acknowledge and agree that, (i) in connection with the execution Executive’s initial employment by Legacy and delivery of the Original AgreementFlamel in 2015, Flamel granted to the Executive an option (the “Original Stock Option”) to purchase One Hundred Thousand (100,000) American Depositary Shares (ADSs), with each such ADS representing one (1) of Flamel’s ordinary shares, at an exercise price equal to the fair market value of the Flamel ADSs as of the date of grant of the Original Stock Option; (ii) the board of directors of Flamel approved the grant of the Original Stock Option; and (iii) pursuant to the Merger, Avadel adopted and assumed such Original Stock Option and, as a result, upon and after the Merger, the Original Stock Option became and is exercisable for an equal number of the ADSs of Avadel plc. The terms and conditions of the Original Stock Option (including the vesting provisions thereof) shall continue in effect as adopted and assumed by Avadel plc without modification by this Agreement.