BEGIN AS OF
THE DATE THAT IS 60 DAYS AFTER JUNE 30, 2015 (THE "PAYMENT START DATE") PROVIDED
THAT, AS OF THE PAYMENT START DATE, YOU HAVE EXECUTED A GENERAL RELEASE AND THE
APPLICABLE REVOCATION PERIOD HAS EXPIRED AND YOU HAVE NOT REVOKED THE RELEASE.
OTHERWISE, YOU WILL NOT BE ENTITLED TO ANY CASH SEVERANCE PAY OTHER THAN THE
BASIC SEVERANCE PAY. ONCE SEVERANCE PAY (OTHER THAN THE BASIC SEVERANCE PAY)
COMMENCES, IT WILL BE PAID IN REGULAR PAYROLL INTERVALS OVER 18 MONTHS IN
ACCORDANCE WITH YOUR PAY SCHEDULE THAT WAS IN EFFECT PRIOR TO SEPARATION. YOUR
EXECUTIVE SEVERANCE PAY WILL CONTINUE TO THE END OF YOUR SEVERANCE PAY PERIOD;
PROVIDED, HOWEVER, THAT IF YOU OBTAIN OTHER EMPLOYMENT PRIOR TO THE END OF YOUR
SEVERANCE PAY PERIOD, ANY REMAINING PORTION OF YOUR EXECUTIVE SEVERANCE PAY (BUT
NOT ANY REMAINING PORTION OF YOUR ADDITIONAL CASH SEVERANCE PAY) WILL BE PAID TO
YOU AS A LUMP SUM (PLEASE SEE ATTACHMENT III- "CERTIFICATION OF EMPLOYMENT
FORM") TO THE EXTENT PERMITTED BY APPLICABLE LAW. YOUR ADDITIONAL CASH SEVERANCE
PAY WILL NOT BE ACCELERATED AND WILL CONTINUE TO BE PAID OVER THE REMAINDER OF
THE 18 MONTH PERIOD. ALL PAYMENTS SHALL BE MADE IN ACCORDANCE WITH SECTION 409A
OF THE CODE. NOTWITHSTANDING THE FOREGOING, YOUR EXECUTIVE SEVERANCE PAY WILL BE
SUBJECT TO THE TERMS AND CONDITIONS OF THE SEVERANCE PLAN.
YOU ARE REQUIRED TO REVIEW AND SIGN THE GENERAL RELEASE FORM (ATTACHMENT II) AND
RETURN IT TO THE COMPANY AS ONE OF THE REQUIREMENTS TO BECOME ELIGIBLE FOR
EXECUTIVE SEVERANCE PAY AND ADDITIONAL CASH SEVERANCE PAY AS WELL AS CERTAIN
OTHER BENEFITS UPON SEPARATION.
ATTACHMENT IV
SUMMARY OF WELFARE BENEFIT COVERAGES
Name of employee: Peter G. Leemputte
HR ID: 5000371
Date of separation from service: May 31, 2015
The following information is provided to assist you in making certain benefit
choices following your separation from the Mead Johnson & Company, LLC (the
"Company") and its affiliates. Detailed information and the forms to continue
your health care coverage will be sent to your home address in the near future.
Should you have any questions, contact the MJN Service Center at 1-877-500-0909.
While you are receiving severance pay in accordance with the Second Amended and
Restated Mead Johnson & Company, LLC Senior Executive Severance Plan (the
"Severance Plan"), life insurance equal to one times your salary will be
continued at the Company's expense.
*Detailed information concerning health care continuation options that are
available to you as a result of your severance under the Severance Plan will be
mailed to your home. You will have the opportunity to select Company-subsidized
benefits continuation (Option I) or you may choose to pay for the full cost of
benefits continuation via COBRA (Option II). If you are married, your spouse
must also make this election. Please note that in order to select
Company-subsidized benefits continuation, you are required to execute (and not
revoke) the General Release (Attachment II). In addition, the package will also
contain information about how you can