Company: BLCO
Filing Date: 2025-05-21
Form Type: 8-K
Source: 0000950103-25-006266
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Company: Bausch & Lomb Corp
Filing Date: 2025-05-21
Form: 8-K
Item: Item 8.01
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Item 8.01. Other Events.

On May 19, 2025, Bausch
Health Companies Inc. (“ BHC Company B+Lentered into respective letter agreements (the “ Letter
Agreements” and each a “ Letter Agreement”) with each of (i) Carl Icahn and the other members of the
Icahn Group (as such term is defined in the B+L DANA (as defined below)), (ii) John Paulson and his affiliates (the
“ Paulson Group”) and (iii) Sarah Kavanagh and her affiliates (the “ Kavanagh Group”, and each
of the Icahn Group, the Paulson Group and the Kavanagh Group, a “ Group”), as overlapping directors on the Board
of Directors of the Company (the “ B+L Board”) and the Board of Directors of BHC (the “ BHC Board”), pursuant to which, each of the
Groups, respectively, have agreed that, if such Group engages in a “ Specified Action” then such Group shall immediately
tender their resignations from the BHC Board and the B+L Board, and (ii) in respect of the Icahn Group Letter Agreement, the Icahn
Group shall irrevocably waive its rights under specified provisions of the Amended and Restated Director Appointment and Nomination
Agreement dated June 21, 2022 between B+L and certain members of the Icahn Group (the “B+L DANA”), including the
right to designate a Replacement Designee (as such term is defined in the B+L DANA). In addition, under each Letter Agreement,
respectively, so long as no member of such Group has engaged in a Specified Action, BHC has agreed, among other things, if such
person or member of such Group (each a “ Group Designee”) is named as a management nominee for election to the B+L
Board at any meeting of shareholders of B+L, then BHC shall vote (or cause to be voted) all voting securities of B+L owned or
controlled by BHC for each such Group Designee.