<PAGE>

                                                                   EXHIBIT 10.29

                                 FIRST AMENDMENT
                                       TO
                                 ALLERGAN, INC.
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                  (AMENDED AND RESTATED AS OF JANUARY 1, 2003)

         The ALLERGAN, INC. EXECUTIVE DEFERRED COMPENSATION PLAN (the "Plan") is
hereby amended as follows:

I.       Section 6.5 of the Plan is amended as follows:

                           6.5      Change in Payout Timing. A Participant may
                  change his or her Participation Agreement or deemed
                  Participation Agreement at any time prior to Termination of
                  Employment in order to revise the timing of retirement
                  benefits to another method (or over another period) permitted
                  under Sections 6.2 and 6.3 above. If a change is made within
                  the 12-month period preceding Termination of Employment
                  (unless Termination of Employment is on account of
                  Disability), the Participant's Participation Agreement or
                  deemed Participation Agreement in effect immediately prior to
                  such change shall be reinstated. This Section shall apply to
                  all existing and future election changes in payout timing for
                  retirement benefits made by Participants under the Plan.

II.      Article VII is amended by adding the following Section 7.3:

                           7.3      Change in Payout Timing. A Participant may
                  change his or her Participation Agreement or deemed
                  Participation Agreement at any time prior to Termination of
                  Employment in order to revise the timing of termination
                  benefits to another method (or another time) permitted under
                  Section 7.2 above. If a change is made within the 12-month
                  period preceding Termination of Employment (unless Termination
                  of Employment is on account of Disability), the Participant's
                  Participation Agreement or deemed Participation Agreement in
                  effect immediately prior to such change shall be reinstated.
                  This Section shall apply to all existing and future election
                  changes in payout timing for termination benefits made by
                  Participants under the Plan.

III.     Article VIII is amended by adding the following Section 8.6:

                           8.6      Change in Payout Timing. A Participant may
                  change his or her Participation Agreement or deemed
                  Participation Agreement at any time prior to Termination of
                  Employment in order to revise the timing of death benefits to
                  another method permitted under Section 8.1 above. If a change
                  is made within the 12-month period preceding death, the
                  Participant's Participation Agreement or deemed Participation
                  Agreement in effect immediately prior to such change shall be
                  reinstated. This Section shall apply to all existing and
                  future election changes in payout timing for death benefits
                  made by Participants under the Plan.

<PAGE>

IV.      Article XII is amended by adding the following Section 12.5:

                           12.5     Payment of After-Tax Amounts.
                  Notwithstanding any other provision of the Plan, Restoration
                  Credits credited to a Participant's Deferral Account for the
                  1999, 2000, and 2001 Plan Years that were reported as taxable
                  income to the Participant shall be distributed to such
                  Participant as soon as administratively practicable; provided,
                  however, that the amount of the distribution shall be
                  decreased for net investment losses but not increased for net
                  investment gains attributable to such Restoration Credits as
                  determined on the last valuation date preceding the date of
                  distribution.

V.       Section 13.2 is amended as follows:

                           13.2     Committee Authority; Rules and Regulations.
                  The Committee shall have discretionary authority to (i) make,
                  amend, interpret and enforce all appropriate rules and
                  regulations for the administration of the Plan, (ii) decide or
                  resolve any and all questions, including interpretations of
                  the Plan, as may arise in connection with the Plan, and (iii)
                  take or approve all such other actions relating to the Plan
                  (other than amending the Plan, except as provided in Section
                  16.6, or terminating the Plan); provided, however, that the
                  Board may, by written notice to the Committee, withdraw all or
                  any part of the Committee's authority at any time, in which
                  case such withdrawn authority shall immediately revest in the
                  Board. The decision or action of the Committee in respect of
                  any question arising out of or in connection with the
                  administration, interpretation and application of this Plan
                  and the rules and regulations promulgated hereunder shall be
                  final, conclusive and binding upon all persons having any
                  interest in the Plan.

VI.      Section 16.6 is amended as follows:

                           16.6     Amendment or Termination of the Plan. The
                  Company, by action of its Board of Directors, may amend this
                  Plan from time to time in any respect that it deems
                  appropriate or desirable, and may terminate this Plan at any
                  time, subject to the following provisions:

                                    (a)      Any Plan amendment or Plan
                           termination shall not, without a Participant's
                           written consent, be given effect with respect to such
                           Participant to the extent such Plan amendment or Plan
                           termination operates to reduce or eliminate (except
                           to the extent that amounts are distributed under the
                           Plan) such Participant's Deferral Account as of the
                           date of such amendment or termination.

                                    (b)      Any Plan amendment to make a change
                           in the formula for determining the interest rate to
                           be credited under the Plan shall not become effective
                           until thirty (30) days advance written notice is
                           given to Participants.

                                       2
<PAGE>

                           The Committee shall have the right to amend the Plan,
                  subject to paragraphs (a) and (b) above, to make
                  administrative amendments to the Plan that do not cause a
                  substantial increase or decrease in benefits to Participants
                  and that do not cause a substantial increase in the cost of
                  administering the Plan.

         IN WITNESS WHEREOF, Allergan, Inc. hereby executes this First Amendment
to the Allergan, Inc. Executive Deferred Compensation Plan on this 17th day of
December, 2003.

ALLERGAN, INC.

BY:  /s/ Douglas S. Ingram
    ----------------------------------------
    Douglas S. Ingram
    Executive Vice President, General Counsel and Secretary


                                       3