Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 1

Dated as of December 2, 2013

to

CREDIT AGREEMENT

Dated as of December 4, 2012

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of December 2, 2013 by and
among Forest Laboratories, Inc., a Delaware corporation (the “Company”), the
Foreign Subsidiary Borrowers party hereto (together with the Company, the
“Borrowers”), the financial institutions listed on the signature pages hereof
and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative
Agent”), under that certain Credit Agreement dated as of December 4, 2012 by and
among the Company, the Foreign Subsidiary Borrowers from time to time party
thereto, the financial institutions from time to time party thereto as Lenders
and the Administrative Agent (the “Credit Agreement”). Capitalized terms used
herein and not otherwise defined herein shall have the respective meanings given
to them in the Credit Agreement.

WHEREAS, the Company has requested that the requisite Lenders and the
Administrative Agent agree to an amendment to the Credit Agreement;

WHEREAS, the Borrowers, the Lenders party hereto and the Administrative Agent
have agreed to amend the Credit Agreement on the terms and conditions set forth
herein;

NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrowers, the
Lenders party hereto and the Administrative Agent hereby agree to the following
amendment to the Credit Agreement.

1. Amendments to the Credit Agreement. Subject solely to the satisfaction of the
conditions precedent set forth in Section 2 below, the Credit Agreement is
hereby amended in accordance with this Section.

(a) For purposes of calculating the Company’s Leverage Ratio and Interest
Coverage Ratio in Section 6.10, but not for purposes of calculating the
Company’s Leverage Ratio for purposes of the definition of “Applicable Rate,”
the definition of “Consolidated EBITDA” is hereby amended and restated in its
entirety to read as follows:

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“ “Consolidated EBITDA” means Consolidated Net Income plus, to the extent
deducted from revenues in determining Consolidated Net Income, (i) Consolidated
Interest Expense, (ii) expense for taxes paid or accrued, (iii) depreciation,
(iv) amortization, (v) extraordinary or non-recurring non-cash expenses or
losses incurred other than in the ordinary course of business, which shall
include, without limitation, any restructuring or similar charges recognized in
connection with the implementation of the Specified Cost Savings Initiative,
(vi) non-cash impairment charges, (vii) non-cash charges related to the
write-down of in-process research and development associated with acquisitions
or any other non-cash impairment charges or non-cash asset write offs or
amortization related to intangible assets and long-lived assets pursuant to GAAP
(including pursuant to FASB ASC Topics 350, 360 or 805), (viii) non-cash
expenses related to stock-based compensation and (ix) an amount of reasonably
identifiable and factually supportable cost savings during any Reference Period
reasonably projected at any date of calculation by the Borrower of Consolidated
EBITDA in good faith to be realized as a result of the Specified Cost Savings
Initiative within the first six consecutive fiscal quarters following the
commencement of the Specified Cost Savings Initiative, calculated as though such
cost savings had been realized on the first day of such period and without
duplication, for the avoidance of doubt, of the amount of actual benefits
received during such period from the Specified Cost Savings Initiative; provided
that (A) a duly completed certificate signed by a Financial Officer of the
Borrower shall be delivered to the Administrative Agent certifying that such
cost savings are reasonably identifiable, reasonably projected and factually
supportable in the good faith judgment of the Borrower at any date of such
calculation and (B) no cost savings shall be added pursuant to this clause
(ix) to the extent duplicative of any expenses or charges otherwise added to
Consolidated EBITDA, whether through a pro forma adjustment or otherwise, for
such period minus, to the extent included in Consolidated Net Income,
(1) interest income, (2) any cash payments made during such period in respect of
items described in clause (viii) above subsequent to the fiscal quarter in which
the relevant non-cash expense or losses were incurred and (3) extraordinary
gains realized other than in the ordinary course of business, all calculated for
the Company and its Subsidiaries in accordance with GAAP on a consolidated
basis. As used in this definition, “Specified Cost Savings Initiative” means a
single cost savings initiative approved by the board of directors of the Company
and publicly announced by the Company during the period commencing on
December 2, 2013 and ending on December 31, 2013. For the purposes of
calculating Consolidated EBITDA for any period of four consecutive fiscal
quarters (each such period, a “Reference Period”), (i) if at any time during
such Reference Period the Company or any Subsidiary shall have made any Material
Disposition, the Consolidated EBITDA for such Reference Period shall be reduced
by an amount equal to the Consolidated EBITDA (if positive) attributable to the
property that is the subject of such Material Disposition for such Reference
Period or increased by an amount equal to the Consolidated EBITDA (if negative)
attributable thereto for such Reference Period, and (ii) if during such
Reference Period the Company or any Subsidiary shall have made a Material
Acquisition, Consolidated EBITDA for such Reference Period shall be calculated
after giving pro forma effect thereto as if such Material Acquisition occurred
on the first day of such Reference Period. As used in this definition and in the
definition of “Consolidated Interest Expense”,

 

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“Material Acquisition” means any acquisition of property or series of related
acquisitions of property that (a) constitutes (i) assets comprising all or
substantially all or any significant portion of a business or operating unit of
a business, or (ii) all or substantially all of the common stock or other Equity
Interests of a Person, and (b) involves the payment of consideration by the
Borrower and its Subsidiaries in excess of $200,000,000; and “Material
Disposition” means any sale, transfer or disposition of property or series of
related sales, transfers, or dispositions of property that yields gross proceeds
to the Borrower or any of its Subsidiaries in excess of $200,000,000.”

(b) Section 6.08 is hereby amended and restated in its entirety to read as
follows:

“Restrictive Agreements. The Company will not, and will not permit any of its
Subsidiaries to, directly or indirectly, enter into, incur or permit to exist
any agreement or other arrangement that prohibits, restricts or imposes any
condition upon (a) the ability of the Company or any Subsidiary to create, incur
or permit to exist any Lien upon any of its property or assets, or (b) the
ability of any Subsidiary to pay dividends or other distributions with respect
to holders of its Equity Interests or to make or repay loans or advances to the
Company or any other Subsidiary or to Guarantee Indebtedness of the Company or
any other Subsidiary; provided that (i) the foregoing shall not apply to
restrictions and conditions imposed by law or by any Loan Document, (ii) the
foregoing shall not apply to customary restrictions and conditions contained in
agreements relating to the sale of a Subsidiary pending such sale, provided such
restrictions and conditions apply only to the Subsidiary that is to be sold and
such sale is permitted hereunder, (iii) clause (a) of the foregoing shall not
apply to restrictions or conditions imposed by any agreement relating to secured
Indebtedness permitted by this Agreement if such restrictions or conditions
apply only to the property or assets securing such Indebtedness; (iv) clause
(a) of the foregoing shall not apply to customary provisions in leases and other
contracts restricting the assignment thereof and (v) the foregoing shall not
include any restrictions included in the terms of debt securities issued by the
Company that are customary for such type of debt securities issued by similarly
rated U.S. companies and are not materially more restrictive, taken as a whole,
than those contained in this Agreement, in each case, as determined in good
faith by the board of directors of the Company.”

2. Conditions of Effectiveness. The effectiveness of this Amendment is subject
solely to the conditions precedent that the Administrative Agent shall have
received (i) counterparts of this Amendment duly executed by the Borrowers, the
Required Lenders and the Administrative Agent and (ii) from the Company,
(x) payment for the account of each Lender that executes this Amendment on or
before 5:00 p.m. (New York City time) on November 25, 2013, a fee equal to 0.05%
of such approving Lender’s Commitment and (y) payment or reimbursement of the
Administrative Agent’s and its Affiliates’ reasonable and documented fees and
reasonable and documented out-of-pocket expenses (including reasonable and
documented fees, charges and disbursements of one primary counsel), in each
case, incurred by the Administrative Agent and its Affiliates in connection with
this Amendment.

 

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3. Representations and Warranties of the Borrowers. Each Borrower hereby
represents and warrants as follows:

(a) This Amendment and the Credit Agreement as amended hereby constitute legal,
valid and binding obligations of such Borrower, enforceable against such
Borrower in accordance with their terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law.

(b) As of the date hereof and after giving effect to the terms of this
Amendment, (i) no Default has occurred and is continuing and (ii) the
representations and warranties of such Borrower set forth in the Credit
Agreement are true and correct.

4. Reference to and Effect on the Credit Agreement.

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the
Credit Agreement or any other Loan Document shall mean and be a reference to the
Credit Agreement as amended hereby.

(b) Except as specifically amended above, the Credit Agreement and all other
documents, instruments and agreements executed or delivered in connection
therewith shall remain in full force and effect and are hereby ratified and
confirmed.

(c) The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the Administrative Agent or
the Lenders, nor constitute a waiver of any provision of the Credit Agreement or
any other documents, instruments and agreements executed or delivered in
connection therewith.

5. Governing Law. This Amendment shall be construed in accordance with and
governed by the law of the State of New York.

6. Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

7. Counterparts. This Amendment may be executed by one or more of the parties
hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same
instrument. Signatures delivered by facsimile or PDF shall have the same force
and effect as manual signatures delivered in person.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

 

FOREST LABORATORIES, INC., as the Company By:   /s/ Ralph Kleinman Name:   Ralph
Kleinman Title:   Vice President, Corporate Tax and Treasury By:   /s/ Francis
I. Perier, Jr. Name:   Francis I. Perier, Jr. Title: Executive Vice President –
Finance and Administration and Chief Financial Officer

 

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Executed and delivered as a Deed on behalf of FOREST LABORATORIES UK LIMITED
as a UK Borrower By:   /s/ Raymond Stafford Name:   Raymond Stafford Title:  
Director By:   /s/ Diarmuid Burke Name:   Diarmuid Burke Title:   Director

 

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FOREST FINANCE B.V. as a Dutch Borrower

By:

 

/s/ Veronica Gunther

Name:

 

Veronica Gunther

Title:

 

Managing director A

By:

 

/s/ Diarmuid Burke

Name:

 

Diarmuid Burke

Title:

 

Managing director B

 

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Present when the Common Seal of FOREST LABORATORIES IRELAND LIMITED as an Irish
Borrower, was affixed hereto By:   /s/ Raymond Stafford Name:   Raymond Stafford
Title:   Director By:   /s/ Diarmuid Burke Name:   Diarmuid Burke Title:  
Director / Secretary

[Corporate Seal]

 

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Present when the Common Seal of FOREST LABORATORIES HOLDINGS LIMITED as an Irish
Borrower, was affixed hereto By:   /s/ Francis I. Perier, Jr. Name:   Francis I.
Perier, Jr. Title:   Director / Secretary By:   /s/ Ralph Kleinman Name:   Ralph
Kleinman Title:   Director / Assistant Secretary

[Corporate Seal]

 

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FOREST LABORATORIES CANADA INC.,

as a Canadian Borrower

By:

 

/s/ Francis I. Perier, Jr.

Name:

 

Francis I. Perier, Jr.

Title:

 

Vice President – Chief Financial Officer

By:

 

/s/ Ralph Kleinman

Name:

 

Ralph Kleinman

Title:

 

Secretary

 

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JPMORGAN CHASE BANK, N.A.,

individually as a Lender, as Swingline Lender,

as Issuing Bank and as Administrative Agent

By:  

/s/ James A. Knight

Name:   James A. Knight Title:   Vice President

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FIFTH THIRD BANK, as a Lender By:  

/s/ Vera B. McEvoy

Name:   Vera B. McEvoy Title:   Healthcare Officer

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BANK OF AMERICA, N.A., as a Lender By:  

/s/ Robert LaPorte

Name:   Robert LaPorte Title:   Vice President

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CREDIT SUISSE AG, Cayman Islands Branch

(formerly known as Credit Suisse, Cayman

Islands Branch), as a Lender

By:  

/s/ Christopher Day

Name:   Christopher Day Title:   Authorized Signatory By:  

/s/ Samuel Miller

Name:   Samuel Miller Title:   Authorized Signatory

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U.S. BANK NATIONAL ASSOCIATION, as a Lender By:  

/s/ Jennifer Hwang

Name:   Jennifer Hwang Title:   Vice President

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THE GOVERNOR AND COMPANY OF

THE BANK OF IRELAND, as a Lender

By:  

/s/ Conor Linehan

Name:   Conor Linehan Title:   Associate Director By:  

/s/ Orla Jones

Name:   Orla Jones Title:   Senior Manager

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TD BANK, N.A., as a Lender By:  

/s/ Shivani Agarwal

Name:   Shivani Agarwal Title:   Senior Vice President

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THE NORTHERN TRUST COMPANY, as a Lender By:  

/s/ Sophia E. Love

Name:   Sophia E. Love Title:   Vice President

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MORGAN STANLEY BANK, N.A., as a Lender By:  

/s/ Alice Lee

Name:   Alice Lee Title:   Authorized Signatory