ITEM 5.02           Departure of Directors or Certain Officers; Election of Directors;
                    Appointment of Certain Officers; Compensatory Arrangements of Certain
                    Officers

Salary Increases for Named Executive Officers

On January 4, 2023, the Board of Directors ("Board") of Opiant Pharmaceuticals, Inc. ("Company"), upon the recommendation of the Compensation Committee ("Committee"), approved increases to the annual base salaries of the Company's named executive officers to the amounts set forth in the table below, effective January 1, 2023: Name

                    Title                         2023 Base Salary
Dr. Roger Crystal       Chief Executive Officer       $702,917
Dr. Phil Skolnick       Chief Scientific Officer      $494,841
David O'Toole           Chief Financial Officer       $451,136

Grants of Cash Long-Term Incentive Awards to Named Executive Officers

On January 4, 2023, the Board, upon recommendation of the Committee, approved grants of cash long-term incentive compensation awards ("LTI Cash Award") for fiscal year 2023 in lieu of the Company's historical annual grants of equity awards, to each of Dr. Crystal, Dr. Skolnick and Mr. O'Toole, in the amounts of $800,000, $240,000 and $240,000, respectively.

The LTI Cash Awards were granted under the Company's 2017 Long-Term Incentive Plan ("2017 LTIP"), which was filed as Exhibit 10.52 to the Company's Annual Report on Form 10-K filed on October 13, 2017. Each LTI Cash Award vests in three equal amounts on the first, second and third anniversary of the vesting commencement date of January 1, 2023, subject to employee's continued service to the Company through the applicable vesting date. In the event that the employee's employment is terminated by the Company without Cause or by the employee for Good Reason, in either case, on the Closing Date (as such terms are defined in that certain Agreement and Plan of Merger, dated as of November 13, 2022, by and among the Company, Indivior Inc., a Delaware corporation, and Olive Acquisition Subsidiary, Inc., a Delaware corporation, which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed on November 15, 2022) or within 36 months following the Closing Date, any unvested tranche of the LTI Cash Award, prorated for the portion of calendar year 2023, 2024 or 2025, as the case may be, elapsed prior to the date of termination, shall become vested as of the employee's termination date and the remaining unvested portion of the LTI Cash Award will be forfeited.

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