Document:

EX-10.64

 Exhibit 10.64 
  

					
	

	  	  
 Private & Confidential
	  	  
 February 8, 2018

 To: <First_Name> <Last_Name> 

Teva Global ID: <GID> 
 Subject: 2018 Annual Bonus Plan
for Employee Office Holders 
 Dear <First_Name>, 
 I
would like to inform you that your eligibility for annual cash bonus for 2018 will be based on the following scheme: 
  
 

 
 EPS: non-GAAP earnings per share as reported in the Teva Pharmaceutical
Industries, Ltd. annual report on form 10-K, vs. AOP target 
  

	 	•	 	Weight = 50% 

  

	 	•	 	Cap = maximum achievement of 120% 

  

	 	•	 	Super-measure: achievement of less than 85% of target Non-GAAP EPS will not entitle employees to Annual Bonus. 

FCF (Free Cash Flow): cash from operations as reported in the Teva Pharmaceutical Industries Ltd. audited financial statements net of CAPEX, vs. AOP
target 
  

	 	•	 	Weight = 25% 

  

	 	•	 	Cap = maximum achievement of 120% 

  

	 	•	 	Super-measure: achievement of less than 85% of FCF target will not entitle employees to Annual Bonus. 

Individual Performance: 
  

	 	•	 	Weight = 25% 

  

	 	•	 	Linked to performance evaluation ratings, each of which has an individual performance range: 

  

 
 Scaled Performance Result: 

In the range of 0% to 200%, determined by scaling the performance result up/down at a ratio of 1:5 (5% for each percentile change in performance). 

					
	

	  	  
 Private & Confidential
	  	  
 February 8, 2018

 Threshold: 
 Achievement
of less than 85% of performance (weighted result before scaling) will not entitle office holders to Annual Bonus (achievement of 85% of performance will result in 25% after scaling). 

Annual Base Salary (ABS): the eligible salary which is used for the Annual Bonus calculation and payout. 

Target Bonus: 100%. 
 Notes: 

 

	 	•	 	All components shall be calculated on a prorated basis (for example the Annual Base Salary in case of working less than a full year or salary change) 

 

	 	•	 	Subject to your employment agreement, the Annual Bonus is and shall remain subject to your continued employment at the date of payout, the Compensation Policy and other company policies, including but not limited to
clawback provisions, and to any applicable law 

  

	 	•	 	The Annual Base Salary shall not include any statutory allowances, benefits or perquisites 

  

	 	•	 	Teva reserves the right to amend or discontinue the plan at any time 

 We strongly believe in the company and
in your contribution to its success. We look forward to your continued commitment towards Teva’s short and long-term strategic goals. 
 Sincerely,

  

	
	 /s/ Kåre Schultz

	 Kåre Schultz    

President and Chief Executive OfficerEX-10.65

 Exhibit 10.65 

AWARD AGREEMENT 
 This Award Agreement (this
“Agreement”), is made effective as of September 18, 2017, between Teva Pharmaceutical Industries Limited (the “Company”) and Mike McClellan (the “Participant”). Capitalized terms used and not
otherwise defined herein shall have the meanings assigned thereto in the Company’s 2015 Long-Term Equity-Based Incentive Plan (the “Plan”). 

Pursuant to Sections 5 and 7 of the Plan, the Company hereby grants to the Participant as of the Grant Date (as defined below) the number of Options and/or
Restricted Share Units (“RSUs”) (Options and RSUs are collectively and individually referred to herein as “Awards”) set forth below, subject to the terms and conditions contained herein and in the appendices
attached hereto, as well as the terms and conditions of the Plan , and the Company’s Compensation Policy for Executive Officers and Directors (the “Compensation Policy”), which are incorporated herein in their entirety. 

 

			
	Options Granted:	  	12341
	RSUs Granted:	  	4091
	Grant Date:	  	September 18, 2017
	Vesting Date:	  	Second anniversary of the Grant Date.
	Option Exercise Price:	  	$16.99, the Fair Market Value per Share on the Grant Date
	Option Expiration Date:	  	Tenth anniversary of the Grant Date

 1. Options. 
 (A) Grant of
Options. As set forth above, the Company hereby grants to the Participant, as of the Grant Date, the number of Options as set forth in the table above to purchase an equal number of Shares. 

(B) No Obligation to Exercise Options. The grant and acceptance of Options pursuant to this Agreement do not impose any obligation on the Participant to
exercise them, 
 2. Restricted Share Units. 
 (A) Grant of
RSUs. As set forth above, the Company hereby grants to the Participant, as of the Grant Date, the number of RSUs as set forth in the table above. 
 (B) No
Issuance at Grant. No Shares shall be issued or delivered to the Participant at the time the RSUs are granted. 
 3. Other Provisions. 

(A) Vesting. The Awards granted hereunder shall vest and become exercisable or settle, as the case may be, as set forth in the table above. 

(B) Termination of Employment. the treatment of Options and RSUs upon Termination, as applicable, any applicable Company policy as in effect from time to time
is incorporated herein by reference and made a part hereof. 

 (C) Withholding. The Company or the Employer, or a third party holding Awards on behalf of the Participant, shall
have the right to make all payments or distributions pursuant to this Agreement to the Participant net of any applicable taxes, fees or other required deductions, such as, but not limited to, income taxes, capital gains taxes, social security
premiums, and custody fees, trustee charges, fees for exercise and/or transfer of any Award or its underlying Share payable by the Participant or required to be paid or withheld as a result of the exercise of an Option, the settlement of an RSU, the
delivery of a Share or its transfer, and any other event occurring pursuant to the Plan or this Agreement, that necessitates the withholding of income, employment or capital gains taxes or any other required deductions or payments (hereinafter
referred to as “Taxes”). The Company or the Employer, may withhold from wages or other amounts payable to the Participant such Taxes as may be required by law or otherwise payable by the Participant, or to otherwise require the
Participant to pay such Taxes. 
 (D) Other Effective Documents; Other Agreements. 

(i)The terms and provisions of the Compensation Policy are incorporated herein by reference and made a part hereof. In case of contradiction between the terms
of this Agreement and/or its appendices and/or the Compensation Policy, it is agreed that the terms of the Compensation Policy shall prevail over the terms of this Agreement and any appendix, 

(ii) The terms and provisions of the Plan are incorporated herein by reference and made a part hereof. In case of contradiction between the terms of this
Agreement and/or its appendices and/or the Plan, it is agreed that the terms of the Plan shall prevail over the terms of this Agreement and any appendix, and that the terms of any appendix shall prevail over the terms of this Agreement. The
Participant agrees to (x) execute and become a party to the agreements set forth in any appendix attached hereto, (y) the terms of an Award administration framework agreement and its terms and conditions, as may be set forth in an appendix
or as requested by the Company or the Employer in the future, and shall also agree to such agreement in writing, and (z) to the extent applicable, to adhere to the terms of the Company’s insider trading policy. In addition to any
restrictions on resale and transfer noted in the Plan, Shares acquired pursuant to the Plan may be subject to certain restrictions on resale imposed by local securities laws. Accordingly, the Participant is encouraged to seek legal advice prior to
any resale of such Shares. 
 (iii) The Participant is advised to exercise caution regarding the Awards. If the Participant is in any doubt about any
provisions of the Plan or this Agreement, the Participant should obtain independent professional advice. Receiving Awards may have tax consequences under local tax laws. Neither Teva nor any of its Affiliates is responsible for, and has not
provided, any advice to the Participant regarding the Plan or the Awards, including but not limited to legal, investment or tax advice. 
 (iv) By accepting
the Awards, the Participant acknowledges his or her consent to receive the documents relating to participation in the Plan and evidencing the Awards in the English language only. The Participant also confirms that he or she fully understands the
contents of the English language versions of such documents. Further, the Participant acknowledges that he or she is fluent, and regularly conducts business, in the English language as a part of his or her duties and responsibilities to Teva. 

  
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 (v) The Participant acknowledges and agrees that, if the Participant’s employment location changes or the
Participant’s employment transfers to a different Employer, whether the Participant will be able to continue participating in the Plan will depend on the Participant’s circumstances and will be determined by Teva in its discretion in
accordance with the Plan. 
 (E) Clawback/Recoupment Policy. By signing this Agreement, the Participant grants the Employer a power of attorney to deduct
from any payments clue to Me Participant by the Employer, any amounts owed by him under Section 21(e) of the Plan and/or any applicable Compensation Policy provision, in accordance with applicable law. 

(F) Binding Effect. This Agreement shall be binding upon the heirs, executors, administrators, and successors of the parties hereto. 

(G) Governing Law. This Agreement (including, for the avoidance of doubt, any appendices attached hereto) shall be construed and interpreted in accordance with
the local laws of country where the Participant is or was last employed by the Employer without giving effect to the principles of the conflicts of laws thereof. 

(H) Entire Agreement; Modification. This Agreement (together with any appendices attached hereto) and the Plan constitute the entire agreement between the
parties relative to the subject matter hereof, and supersede all proposals, written or oral, and all other communications between the parties relating to the subject matter of this Agreement. This Agreement may be modified, amended, or rescinded
only by a written agreement executed by both parties. 
 (I) No Employee-Employer Relationship. Nothing in this Agreement shall create employee-employer
relationship between the Company and the Participant. 
 (J) Counterparts: Electronic Signature. This Agreement may be signed in counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Signature of this Agreement, unless otherwise stipulated in any appendix, may be by electronic or digital means. 

By accepting the Award, the Participant hereby certifies that the Participant (A) has been furnished with all relevant information and materials with
respect to the terms and conditions of the Award, (B) has read and understands such information and materials, (C) is fully aware and knowledgeable of the terms and conditions of the Award, and (D) completely and voluntarily agrees to
the terms and conditions of the Award, as set forth in the Plan and this Agreement. 
 I acknowledge that I have read this Agreement and all appendices and
I 
  
 

 

  
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