Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
 SUPPORT AND
EXCHANGE AGREEMENT 
 This Exchange Agreement (together with the exhibits, annexes and schedules attached hereto, this
“Agreement”), dated as of February 25, 2020, is by and among (x) Mallinckrodt International Finance S.A., a société anonyme existing under the laws of Luxembourg (“MIFSA”), Mallinckrodt CB
LLC, a Delaware limited liability company (“U.S. Co-Issuer” and, together with MIFSA, the “Issuers”), and Mallinckrodt plc, a public limited company incorporated in Ireland
and the ultimate parent entity of the Issuers (“Mallinckrodt Parent” and, together with the Issuers, the “Mallinckrodt Parties”) and (y) each undersigned holder (each, a “Noteholder Party”, and
collectively, the “Noteholder Parties”) of certain 5.750% Senior Notes due 2022 (the “Existing 5.750% 2022 Notes”) and 5.625% Senior Notes due 2023 (the “Existing 5.625% 2023 Notes” and together
with the Existing 5.750% 2022 Notes, the “Existing Notes”), in each case issued by MIFSA and U.S. Co-Issuer, under those certain indentures governing the Existing Notes (collectively, the
“Indentures”). The Mallinckrodt Parties and the Noteholder Parties are referred to herein collectively as the “Parties.” 

RECITALS 
 WHEREAS,
subject to the terms and conditions of this Agreement, the Issuers shall commence (a) an offer to exchange (the “2022 Exchange Offer”) any and all of the Existing 5.750% 2022 Notes for certain newly issued notes of the Issuers
(the “New Notes”) in accordance with the terms and conditions set forth in the term sheet attached as Exhibit A hereto (the “Term Sheet”) and (b) a solicitation of consents (the
“Consents”) from holders of Existing 5.750% 2022 Notes to certain amendments to eliminate or waive substantially all of the restrictive covenants contained in the Existing 5.750% 2022 Notes and the applicable Indenture, and
eliminate certain events of default, modify covenants regarding mergers and the transfer of assets, and modify and eliminate certain other provisions, including covenants regarding future guarantors and certain provisions relating to defeasance (the
“Proposed Amendments” and such solicitation of Consents, the “2022 Consent Solicitation”), in each case pursuant to an offering memorandum to be prepared by the Issuers in accordance with
Section 7(a) (the “Offering Memorandum”); 
 WHEREAS, subject to the terms and conditions of this
Agreement, (a) each Noteholder Party shall tender in the 2022 Exchange Offer all of the Existing 5.750% 2022 Notes beneficially owned by such Noteholder Party (or for which such Noteholder Party acts as discretionary investment manager, advisor
or sub-advisor with authority to bind a beneficial owner of Existing 5.750% 2022 Notes), including Existing 5.750% 2022 Notes held through a custodial account beneficially owned by such Noteholder Party and
(b) if the aggregate principal amount of New Notes issued pursuant to the 2022 Exchange Offer is less than $610,304,000 (the “Exchange Cap”), each Noteholder Party shall exchange Existing 5.625% 2023 Notes beneficially owned by
such Noteholder Party (or for which such Noteholder Party acts as discretionary investment manager, advisor or sub-advisor with authority to bind a beneficial owner of Existing 5.625% 2023 Notes), including
Existing 5.625% 2023 Notes held through a custodial account beneficially owned by such Noteholder Party, for such Noteholder Party’s Allocated Portion (as defined below) of New Notes pursuant to a transaction separate from the 2022 Exchange
Offer (the “2023 Exchange”); and 

 WHEREAS, concurrently with the execution hereof, the Noteholder Parties, together with
certain other parties, are entering into an amendment to that certain Credit Agreement, dated March 19, 2014 among Mallinckrodt, Mallinckrodt International Finance S.A., Mallinckrodt CB LLC, the lenders party thereto, and Deutsche Bank AG New
York Branch, as Administrative Agent, in order to, among other things, provide for $800,000,000 in aggregate principal amount of additional term loans thereunder (the “New Term Loans”), certain of which funds are intended to be used
in order to redeem all of the outstanding 4.875% Senior Notes due 2020 issued by the Issuers (the “Existing 4.875% 2020 Notes”). 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the premises and mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Parties hereby agrees as
follows: 
 Section 1.    Definitions. Unless otherwise indicated, capitalized terms not defined herein
shall have the meanings ascribed to such terms in the Term Sheet. 
 Section 2.    Representations and
Warranties of the Noteholder Parties. Each Noteholder Party hereby represents and warrants, severally and not jointly, to the Mallinckrodt Parties that the following statements are true and correct as of the date hereof: 

(a)    Such Noteholder Party has all necessary corporate or similar power and authority to execute and deliver this
Agreement and to perform its obligations hereunder. The execution and delivery of this Agreement by such Noteholder Party and the performance of its obligations hereunder have been duly authorized by all necessary corporate or similar action on the
part of such Noteholder Party. 
 (b)    This Agreement has been duly and validly executed and delivered by such
Noteholder Party. This Agreement constitutes the valid and binding obligation of such Noteholder Party, enforceable against such Noteholder Party in accordance with its terms, except as may be limited by (i) the effects of bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or (ii) general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law). 
 (c)    The execution, delivery and performance of this Agreement by
such Noteholder Party, and such Noteholder Party’s compliance with the provisions hereof, will not (with or without notice or lapse of time, or both): (i) violate any provision of such Noteholder Party’s organizational or governing
documents; (ii) violate any law or order applicable to such Noteholder Party; or (iii) require any consent or approval under, violate, result in any breach of, or constitute a default under, or result in termination or give to others any
right of termination, amendment, acceleration or cancellation of any contract, agreement, arrangement or understanding that is binding on such Noteholder Party, except, in the case of clause (ii) and (iii) above, where not reasonably likely to
have a material adverse effect on the ability of such Noteholder Party to perform its obligations under this Agreement or the transactions contemplated hereby. 

  
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 (d)    The principal amount of Existing Notes and Existing 4.87% 2020
Notes beneficially owned by such Noteholder Party (or for which such Noteholder Party acts as discretionary investment manager, advisor or sub-advisor with authority to bind a beneficial owner of the Existing
Notes), including Existing Notes and Existing 4.87% 2020 Notes held through a custodial account beneficially owned by such Noteholder Party, as of the date hereof, together with participant information at the The Depository Trust Company
(“DTC”) with respect to such Existing Notes and Existing 4.87% 2020 Notes, is set forth on Schedule I hereto. Such Noteholder Party beneficially owns (within the meaning of Rule 13d-3
under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (or is acting in its capacity as discretionary investment manager, advisor or sub-advisor with authority to bind the
beneficial owner of) the Existing Notes and Existing 4.87% 2020 Notes, or beneficially owns the custodial account through which such Existing Notes and Existing 4.87% 2020 Notes are held, free and clear of any liens, charges, claims, encumbrances,
participations, security interests and similar restrictions and any other restrictions that could adversely affect the ability of such Noteholder Party to perform its obligations hereunder. 

(e)    Such Noteholder Party is either (i) a “qualified institutional buyer” as defined in Rule 144A under
the Securities Act of 1933, as amended (the “Securities Act”) or (ii) only in the case of the Noteholder Parties listed on Schedule II hereto, a person who is not, and is not acting on behalf of, a “U.S. person”
within the meaning of Rule 902 of Regulation S promulgated under the Securities Act. 
 (f)    Such Noteholder Party
will acquire the New Notes for its own account or for the account of another for which it acts as discretionary investment manager, advisor or sub-advisor, for investment and not with a view to the
distribution thereof or any interest therein in violation of the Securities Act or applicable state securities laws. 

(g)    Such Noteholder Party acknowledges for the benefit of the Mallinckrodt Group (as defined below) (including for the
benefit of any person acting on behalf of any member of the Mallinckrodt Group in connection with this Agreement and the transactions set forth herein, including, without limitation, any applicable financial or other advisor to a Mallinckrodt Group
member) that it has the requisite knowledge and experience in financial and business matters so that it is capable of evaluating the merits and risks of the acquisition of the New Notes contemplated hereby and has had such opportunity as it has
deemed adequate to obtain such information as is necessary to permit such Noteholder Party to evaluate the merits and risks of the acquisition of the New Notes contemplated hereby. 

(h)    Such Noteholder Party acknowledges that none of the Issuers, Mallinckrodt Parent, nor the other subsidiaries of
Mallinckrodt Parent (all of the foregoing, the “Mallinckrodt Group”) intends to register the New Notes, any offer or sale thereof, the 2023 Exchange or the 2022 Exchange Offer under the Securities Act or the Exchange Act or any
state securities laws. 
 (i)    Such Noteholder Party acknowledges for the benefit of the Mallinckrodt Group (including
for the benefit of any person acting on behalf of any member of the Mallinckrodt Group in connection with this Agreement and the transactions set forth herein, including, without limitation, any applicable financial or other advisor to a
Mallinckrodt Group member) that (i) the Mallinckrodt Group may be in possession of information about the 

  
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Mallinckrodt Group (including material non-public information) that may impact the value of the Existing Notes and/or the New Notes, and may not be
included in the information available to such Noteholder Party, (ii) notwithstanding any such informational disparity, such Noteholder Party has independently evaluated the risks and merits regarding the transactions contemplated by this
Agreement, including with respect to the 2023 Exchange, the 2022 Exchange Offer and the New Notes, and wishes to enter into this Agreement and consummate the transactions contemplated hereby in accordance with its terms, (iii) no member of the
Mallinckrodt Group or any other person acting on behalf of any member of the Mallinckrodt Group, including, without limitation, any financial advisor of any of the foregoing, has made or is making any representation or warranty to such Noteholder
Party or any other person, whether express or implied, of any kind or character (including, without limitation, as to accuracy or completeness of any information or as to the creditworthiness of the Issuers or the New Notes or as to the transactions
contemplated by this Agreement), and (iv) such Noteholder Party is not relying upon, and has not relied upon, any representation or warranty made by any person regarding the transactions contemplated by this Agreement or otherwise, except, in
the case of clauses (iii) and (iv), for the representations and warranties of the Mallinckrodt Parties contained in this Agreement. 

(j)    Such Noteholder Party acknowledges for the benefit of the Mallinckrodt Group (including for the benefit of any
person acting on behalf of any member of the Mallinckrodt Group in connection with this Agreement and the transactions set forth herein, including, without limitation, any applicable financial or other advisor to a Mallinckrodt Group member) that it
has made its own independent assessment, to its satisfaction, concerning any and all legal, regulatory, tax, credit, business and financial considerations with respect to the Mallinckrodt Group, the Existing Notes and the New Notes in connection
with its acquisition of the New Notes contemplated hereby. 
 Section 3.    Representations and Warranties of
the Mallinckrodt Parties. Each Mallinckrodt Party hereby represents and warrants, severally and not jointly, to the Noteholder Parties that the following statements are true and correct as of the date hereof: 

(a)    Such Mallinckrodt Party has all necessary corporate or similar power and authority to execute and deliver this
Agreement and to perform its obligations hereunder. The execution and delivery of this Agreement by such Mallinckrodt Party and the performance of its obligations hereunder have been duly authorized by all necessary corporate or similar action on
the part of such Mallinckrodt Party. No other votes, written consents, actions or proceedings by or on behalf of such Mallinckrodt Party are necessary to authorize this Agreement or the performance of its obligations hereunder. 

(b)    This Agreement has been duly and validly executed and delivered by such Mallinckrodt Party. This Agreement
constitutes the valid and binding obligation of such Mallinckrodt Party, enforceable against such Mallinckrodt Party in accordance with its terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or
at law). 

  
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 (c)    The execution, delivery or performance of this Agreement by such
Mallinckrodt Party and such Mallinckrodt Party’s compliance with the provisions hereof will not (with or without notice or lapse of time, or both): (i) violate any provision of the organizational or governing documents of such Mallinckrodt
Party; (ii) violate any law or order applicable to any member of the Mallinckrodt Group; or (iii) require any consent or approval under, violate, conflict with, result in any breach of, or constitute a default under, or result in
termination or give to others any right of termination, amendment, acceleration or cancellation of any contract, agreement, arrangement or understanding that is binding on any member of the Mallinckrodt Group or on any of their respective properties
or assets (including, without limitation, any indentures, credit facilities or agreements under which any member of the Mallinckrodt Group has issued debt securities or has outstanding indebtedness), except, in the case of clause (ii) and (iii)
above, where not reasonably likely to have a material adverse effect on the ability of such Mallinckrodt Party to perform its obligations under this Agreement or the transactions contemplated hereby. 

(d)    As of the date hereof, the draft Annual Report on Form 10-K of Mallinckrodt
Parent for the fiscal year ended December 27, 2019 (the “Annual Report”) provided to counsel to the Noteholder Parties prior to the date hereof did not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading in any material respect; provided that, with respect to any projected information, Mallinckrodt Parent represents and
warrants only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 

(e)    The New Notes to be issued by each Issuer to the Noteholder Parties pursuant to that certain indenture to be
entered into in connection with the 2022 Exchange Offer and, if applicable, the 2023 Exchange, which indenture shall be prepared in accordance with Section 7(a) (the “New Indenture”) will, upon issuance
thereof, have been duly authorized for issuance and sale pursuant to this Agreement and the New Indenture and, upon issuance thereof, will have been duly executed by such Issuer and, when authenticated in the manner to be provided for in the New
Indenture and delivered in exchange for the applicable series of Existing Notes, will constitute valid and binding obligations of such Issuer, enforceable against such Issuer in accordance with their respective terms, except as may be limited by
(i) the effects of bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally, or (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law), and will be entitled to the benefits of the New Indenture. 

(f)    The New Indenture (including the guarantees set forth therein) will reflect, in all material respects, the terms of
the applicable New Notes as set forth in this Agreement, the Term Sheet and the Offering Memorandum and the New Indenture and each related agreement to be entered into on the Settlement Date (as will be defined in the Offering Memorandum), will be
duly authorized by each Issuer and guarantors party thereto and will constitute a valid and binding agreement of such Issuer and guarantors party thereto, enforceable against such Issuer and guarantors party thereto in accordance with its terms,
except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and 

  
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remedies of creditors generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), (iii) the need for filings
and registrations necessary to perfect any security granted thereby and (iv) the effect of any requirements of law as they relate to pledges of equity interests in, or assets of, any subsidiaries organized outside of the United States (other
than pledges made under the laws of the jurisdiction of formation of the issuer of such equity interests or the holder of such assets). 

(g)    The execution, delivery and performance by such Mallinckrodt Party of this Agreement and the consummation of the
transactions contemplated hereby, including commencement and consummation of the 2023 Exchange, the 2022 Exchange Offer and the 2022 Consent Solicitations, do not and will not require any registration or filing with, the consent or approval of,
notice to, or any other action with respect to (with or without due notice, lapse of time, or both), any governmental authority, other than (i) Current Reports on Form 8-K filed or furnished by
Mallinckrodt Parent with respect to the 2023 Exchange, the 2022 Exchange Offer and the 2022 Consent Solicitations, (ii) such as have been made or obtained and are in full force and effect, (iii) filings of Uniform Commercial Code financing
statements and other registrations or filings in connection with the perfection of security interests granted pursuant to any collateral documents securing the New Notes or otherwise relating to the transactions contemplated herein,
(iv) filings with the United States Patent and Trademark Office and the United States Copyright Office and comparable offices in foreign jurisdiction and equivalent filings in foreign jurisdictions and (v) such registrations, filings,
consents, approvals, notices or other actions that, if not obtained or made, would not reasonably be likely to have a material adverse effect on the ability of such Mallinckrodt Party to perform its obligations under this Agreement or the
transactions contemplated hereby. 
 Section 4.    Covenants. 

(a)    Each Issuer covenants and agrees that it will (i) use commercially reasonable efforts to commence the 2022
Exchange Offer and the 2022 Consent Solicitation by March 20, 2020 and conduct the 2022 Exchange Offer and the 2022 Consent Solicitation in accordance with the Term Sheet, (ii) provide PW (as defined below), in its capacity as outside
counsel to the Noteholder Parties, a reasonable period of time (and not less than five (5) Business Days in the case of the initial draft) to review and comment on drafts of (x) the Offering Memorandum, prior to the commencement of the
2022 Exchange Offer and the 2022 Consent Solicitation, and (y) the New Indenture, prior to the Settlement Date, and (iii) use commercially reasonable efforts to cause the conditions to the 2022 Exchange Offer and the 2022 Consent
Solicitations set forth in the Offering Memorandum to be satisfied as promptly as practicable. The Noteholder Parties acknowledge and agree that nothing in this Agreement shall (x) require any Issuer to amend, modify or waive any of the terms
or conditions of, or extend, the 2022 Exchange Offer or the 2022 Consent Solicitation, (y) subject to clause (i) of the preceding sentence and the termination right set forth in Section 8(a)(ii)(E), restrict any
amendment, modification or waiver of the 2022 Exchange Offer or the 2022 Consent Solicitation, or (z) restrict the termination of the 2022 Exchange Offer or 2022 Consent Solicitation if any of the conditions thereto have not been satisfied
notwithstanding compliance with clause (iii) of the preceding sentence. 

  
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 (b)    Each Issuer covenants and agrees that (i) the New Notes and
guarantees thereof will be issued pursuant to and in compliance with an applicable exemption or exemptions from registration under the Securities Act and (ii) the 2022 Exchange Offer will comply in all material respects with all applicable
provisions of Section 14(e) of the Exchange Act and Regulation 14E thereunder. 
 (c)    Each Noteholder Party
covenants and agrees that it will not sell any of the New Notes to be received by such Noteholder Party pursuant to this Agreement unless such sale has been registered under the Securities Act and applicable state securities laws or an exemption
from registration is available for such sale. 
 (d)    If any Noteholder Party instructs the Issuers to register New
Notes in the name of a person other than such Noteholder Party, such Noteholder Party will be responsible for the payment of any transfer, documentary, court, stamp or similar taxes (“Transfer Taxes”) imposed with respect to the
tender of the Existing 5.750% 2022 Notes. In addition, if Transfer Taxes are imposed for any reason other than the transfer and tender to the Issuers, the amount of those Transfer Taxes, whether imposed on any Noteholder Party or any other person,
will be payable by the applicable Noteholder Party or Parties. 
 (e)    The Issuers shall be entitled to deduct and
withhold such amounts as are required to be deducted and withheld under applicable U.S. federal, state, local and foreign tax law (including U.S. federal backup withholding) with respect to the exchange of the Existing Notes for the New Notes. To
the extent such amounts are deducted and withheld and paid over to the applicable taxing authority, such amounts shall be treated for all purposes of this Agreement as having been made to the person in respect of whom such deduction and withholding
was made. 
 (f)    If, during the term of this Agreement, any Issuer enters into an agreement with a holder of any
Existing Notes (other than an agreement with all of the Noteholder Parties) that entitles such holder to exchange its Existing Notes of any series for an aggregate principal amount of New Notes that is greater than the consideration for such series
of Existing Notes contemplated by the Term Sheet, or for consideration other than New Notes, the Issuers shall (i) on the date such agreement is entered into, inform the Noteholder Parties’ of their entry into such agreement, the terms
thereof and the parties thereto, and (ii) at the election of the Noteholder Parties, in their sole discretion, amend this Agreement to provide the Noteholder Parties with the opportunity to exchange their Existing Notes of such series for the
same proportionate mix of consideration (subject to the same proportionate proration and/or cap, if applicable) as agreed with such other holder(s) for the applicable series of Existing Notes. 

(g)    Each Noteholder Party, in its capacity as a holder of Existing 4.875% 2020 Notes, irrevocably agrees and consents
to the adoption of the amendment (the “Amendment”) to the Existing 4.875% 2020 Notes and the indenture governing the Existing 4.875% 2020 Notes (the “2020 Indenture”) described on Annex I hereto. 

  
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 (h)    The Mallinckrodt Parties covenant and agree that, on the date
hereof and on the Settlement Date, they shall pay (or cause to be paid) all then-outstanding reasonable and documented fees and expenses of Paul, Weiss, Rifkind, Wharton & Garrison LLP, as counsel to the Noteholder Parties
(“PW”), in each case in accordance with the terms of the letter agreement, dated as of February 12, 2020, between Mallinckrodt Parent and PW. 

Section 5.    Agreement to Tender Existing 5.750% 2022 Notes and Deliver Consents; 2023 Exchange. 

(a)    Each Noteholder Party agrees (i) to promptly (and, in any event, not later than ten (10) Business Days
after the commencement of the 2022 Exchange Offer) validly tender or cause to be validly tendered into the 2022 Exchange Offer, pursuant to and in accordance with the terms of the 2022 Exchange Offer, all of its Existing 5.750% 2022 Notes and to
deliver its Consents and (ii) not to withdraw, and not to cause or permit to be withdrawn, any such Existing 5.750% 2022 Notes or such Consents from the 2022 Exchange Offer unless and until (x) the 2022 Exchange Offer expires without the
Issuers having accepted for payment Existing 5.750% 2022 Notes tendered into the 2022 Exchange Offer or (y) this Agreement is terminated in accordance with its terms. 

(b)    As promptly as practicable after the expiration of the 2022 Exchange Offer, Mallinckrodt Parent shall notify each
Noteholder Party of the amount, if any, by which the Exchange Cap exceeds the aggregate principal amount of New Notes to be issued pursuant to the 2022 Exchange Offer (such difference, the “Available New Note Exchange Amount”). At
the 2023 Exchange Closing (as defined below), each Noteholder Party shall exchange for New Notes, at the exchange price and upon the other applicable terms set forth in the Term Sheet, all Existing 5.625% 2023 Notes beneficially owned by such
Noteholder Party as of immediately prior to the 2023 Exchange Closing (or for which such Noteholder Party acts as discretionary investment manager, advisor or sub-advisor with authority to bind a beneficial
owner of Existing 5.625% 2023 Notes), including Existing 5.625% 2023 Notes held through a custodial account beneficially owned by such Noteholder Party as of immediately prior to the 2023 Exchange Closing; provided that the amount of Existing
5.625% 2023 Notes to be exchanged by a Noteholder Party at the 2023 Exchange Closing shall be reduced to the extent necessary such that the aggregate principal amount of New Notes issued to such Noteholder Party at the 2023 Exchange Closing does not
exceed (i) the Available New Note Exchange Amount multiplied by (ii) the applicable percentage (with respect to such Noteholder Party, its “Pro Rata Share”) set forth on Schedule I (the maximum aggregate principal amount
of New Notes issuable to a Noteholder Party pursuant to this proviso, its “Allocated Portion”, and the Existing 5.625% 2023 Notes exchanged by a Noteholder Party at the 2023 Exchange Closing, its “2023 Exchange
Notes”). 
 (c)    The Parties’ obligations to consummate the closing of the 2023 Exchange (the
“2023 Exchange Closing”) shall be subject only to the condition that the Settlement Date shall be occurring on the same date as the 2023 Exchange Closing (the “2023 Exchange Closing Date”). On the 2023 Exchange
Closing Date, (i) each Noteholder Party shall deliver (x) its 2023 Exchange Notes to such account or accounts as the Issuers shall specify prior to the 2023 Exchange Closing Date by book-entry transfer through the facilities of DTC or
otherwise as agreed by the Issuers and such Noteholder Party and (y) a properly completed and executed IRS Form W-9 or W-8, as applicable, to the Issuers; and
(ii) the Issuers shall deliver, or shall cause to be delivered, to each Noteholder Party, against delivery of the New Notes to be 

  
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exchanged therefor, one or more certificates in global form for the New Notes to be received in exchange for the applicable 2023 Exchange Notes hereunder, registered in the name of DTC or its
nominee. 
 Section 6.    Restrictions on Existing Notes. 

(a)    During the term of this Agreement, each Noteholder Party agrees that it will not without the prior written consent
of the Issuers, other than pursuant to the terms hereof, directly or indirectly, by operation of law or otherwise, sell, transfer, pledge, deposit, hypothecate, assign or otherwise dispose of (including by gift) or encumber, or enter into any
contract, agreement, arrangement or understanding with respect to the sale, transfer, conversion, pledge, deposit, hypothecation, assignment or other disposition or encumbrance of (each, a “Transfer”), any Existing 5.750% 2022 Notes
held by such party to any person, except to a person that: 
 (i)    is a Noteholder Party; 

(ii)    as a condition precedent to the effectiveness of any such Transfer, executes and delivers a joinder
agreement in the form attached hereto as Exhibit B (a “Joinder”) to counsel to the Issuers and counsel to the Noteholder Parties (as set forth in Section 14(a) hereof) at or prior to the time of such Transfer; or 

(iii)    acquires such Existing 5.750% 2022 Notes solely in its capacity as a Qualified Marketmaker (as
defined below) for such Existing 5.750% 2022 Notes, in which case such Qualified Marketmaker shall not be required to be or become a Noteholder Party; provided that (x) the Transferring Noteholder Party notifies the Issuers of the name
of such Qualified Marketmaker in writing at or prior to the time of such Transfer and (y) on the same date as such Transfer, the Qualified Marketmaker transfers all right, title and interest in such Existing 5.750% 2022 Notes to another person
satisfying the criteria set forth in clause (i) or (ii) above. A “Qualified Marketmaker” is a person that (1) holds itself out to the market as standing ready in the ordinary course of its business to purchase from
customers and sell to customers claims against the Issuers, or enter with customers into long and short positions in claims against the Issuers, in its capacity as a dealer or market maker in such claims, and (2) is in fact regularly in the
business of making a market in claims against issuers or borrowers (including debt securities or other debt). 
 In the case of each of clauses (i), (ii)
and (iii), any such Existing 5.750% 2022 Notes shall remain subject to the terms of this Agreement and such Transferee referred to in clauses (i), (ii) and (iii)(y) shall assume all obligations of the Transferring Noteholder Party in respect
thereof. With respect to any Transfers effectuated in accordance with clause (ii) or (iii)(y) above, (A) such Transferee shall be deemed to be Noteholder Party for purposes of this Agreement, and (B) the Issuers shall be deemed to
have acknowledged such Transfer. 
 (b)    Notwithstanding anything to the contrary in this Agreement, (i) no
Transferee of any Existing Notes that is not a Noteholder Party as of the execution hereof shall be entitled to participate in the 2023 Exchange and (ii) no Transfers of Existing 5.750% 2022 Notes shall be permitted after the date that is two
business days prior to the expiration of the 2022 Exchange Offer. 

  
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 (c)    This Agreement shall in no way be construed to preclude any
Noteholder Party from acquiring additional Existing 5.750% 2022 Notes, Existing 5.625% 2023 Notes, Existing 4.875% 2020 Notes or any other interests in or claims against any member of the Mallinckrodt Group following the execution of this Agreement;
provided that any Existing 5.750% 2022 Notes acquired after the execution of this Agreement shall, upon acquisition, be subject to the terms of this Agreement as if they were Existing 5.750% 2022 Notes held by such Noteholder Party on the
date hereof. 
 (d)    Any purported Transfer of Existing 5.750% 2022 Notes in violation of this
Section 6 will be null and void ab initio. 
 (e)    Any Noteholder Party that effects
the Transfer of all of its Existing 5.750% 2022 Notes in accordance with this Agreement and does not subsequently acquire any Existing 5.750% 2022 Notes shall cease to be a Party to this Agreement in all respects and shall have no further rights or
obligations hereunder, including in respect of the 2023 Exchange; provided that (i) the foregoing shall not relieve or otherwise limit the liability of any Noteholder Party for any breach of this Agreement occurring prior to such
Transfer. 
 Section 7.    Further Assurances. 

(a)    Each of the Parties hereby covenants and agrees to negotiate in good faith and, with respect to the Mallinckrodt
Group to the extent a party thereto, use its good faith efforts to execute, the definitive documents relating to this Agreement, the 2023 Exchange, and the 2022 Exchange Offer, including the Offering Memorandum and all documentation necessary or
desirable to effectuate the transactions contemplated by the Offering Memorandum, on terms consistent with this Agreement and the Term Sheet. The terms of the 2022 Exchange Offer and the 2022 Consent Solicitation as set forth in the Offering
Memorandum, and the New Indenture, shall be consistent with the Term Sheet. The Mallinckrodt Parties shall consider in good faith any comments the Noteholder Parties may have to the Offering Memorandum and the New Indenture; provided that the
description of notes section of the Offering Memorandum shall be consistent with the Term Sheet and otherwise in form and substance mutually reasonably acceptable to the Mallinckrodt Parties and the Noteholder Parties. 

(b)    Each of the Parties hereby further covenants and agrees to use their reasonable best efforts, as expeditiously as
possible and during the term of this Agreement, to perform their respective obligations under this Agreement and take such actions as may be reasonably necessary under this Agreement to consummate the 2023 Exchange, the 2022 Exchange Offer and the
2022 Consent Solicitations. 
 (c)    The Mallinckrodt Parties covenant and agree that they shall promptly take all
necessary steps to perfect the collateral securing the New Notes in accordance with the Term Sheet. 

  
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 Section 8.    Termination. 

(a)    This Agreement and the obligations of the Parties hereunder will terminate: 

(i)    upon the earliest of (A) the mutual written consent of the Parties; (B) the acquisition of
the Existing 5.75% 2022 Notes of the Noteholder Parties pursuant to the 2022 Exchange Offer and consummation of the 2022 Consent Solicitation (and, if applicable, the consummation of the 2023 Exchange Closing); (C) May 1, 2020, upon written
notice from a Party hereto to the other Parties; provided that, no Noteholder Party may terminate pursuant to this clause (C) if any Noteholder Party is in material breach of any provision hereunder, and no Mallinckrodt Party may
terminate pursuant to this clause (C) if any Mallinckrodt Party is in material breach of any provision hereunder; and (D) the termination of the 2022 Exchange Offer prior to the consummation thereof; 

(ii)    as to the Noteholder Parties at the sole discretion of the Noteholder Parties, upon written notice
delivered to the Mallinckrodt Parties (or, in the case of clause (C) below, automatically and without notice from the Noteholder Parties), if at any time: (A) any Mallinckrodt Party has materially breached its covenants, agreements,
representations or warranties (or, in the case of any representation or warranty that is qualified by “material adverse effect”, breached such representation or warranty) (each, a “Terminating Company Breach”),
provided that if such Terminating Company Breach is capable of being cured, that such Terminating Company Breach has not been cured within five (5) business days following written notice of such breach to the Mallinckrodt Parties;
(B) a material adverse effect on (1) the general affairs, business, consolidated financial condition or consolidated results of operations of Mallinckrodt Parent and its subsidiaries taken as a whole or (2) the ability of the
Mallinckrodt Parties to perform their respective obligations under this Agreement or the transactions contemplated hereby has, in either case, occurred since the date of this Agreement (provided that none of (x) any change in the trading
prices of any securities or loans of the Mallinckrodt Group, in and of itself, (y) the execution, delivery or performance of this Agreement or the non-binding agreement in principle between certain
members of the Mallinckrodt Group and certain plaintiffs who have asserted opioid-related claims to be announced by Mallinckrodt Parent on or about the date hereof (the “Litigation Settlement”) or the consummation of the
transactions contemplated hereby or thereby, the public announcement of any of the foregoing, or any actions expressly required by, or the failure to take any action expressly prohibited by, the terms of this Agreement or the Litigation Settlement,
shall constitute such a material adverse effect); (C) any of Mallinckrodt Parent or another member of the Mallinckrodt Group (or members collectively) has or have commenced any voluntary case seeking relief under Title 11 of the United States Code
entitled “Bankruptcy”, as now or hereafter in effect, or any other similar federal, state or foreign law in any jurisdiction worldwide (a “Bankruptcy Law”), or a court of competent jurisdiction enters an order or decree
under any Bankruptcy Law that is for relief against Mallinckrodt Parent or any member of the Mallinckrodt Group in an involuntary case and such order or decree remains unstayed and in effect for 60 days, in each case, other than in connection with
the Litigation Settlement; (D) the Settlement Date has not occurred in accordance with the terms hereof on or prior to May 1, 2020; or (E) any Issuer amends, modifies or 

  
 11 

 
waives any of the terms or conditions of the 2022 Exchange Offer or the 2022 Consent Solicitation in a manner materially adverse to the Noteholder Parties (it being understood that changes in
timing reasonably determined by the Issuers to be required under law or required to be made if the Noteholder Parties do not timely comply with their obligations pursuant to this Agreement, the making of additional informational disclosures
regarding any member(s) of the Mallinckrodt Group will, in each of the foregoing cases, not be deemed adverse to the Noteholder Parties); and 

(iii)    as to the Noteholder Parties at the sole discretion of the Mallinckrodt Parties, upon written
notice delivered to the Noteholder Parties, if (A) any Noteholder Party has materially breached its covenants, agreements, representations or warranties (or, in the case of any representation or warranty that is qualified by “material
adverse effect”, breached such representation or warranty) (each, a “Terminating Noteholder Party Breach”), provided that if such Terminating Noteholder Party Breach is capable of being cured, that such Terminating
Noteholder Party Breach has not been cured within five (5) business days following written notice of such breach to the Noteholder Parties or (B) the applicable lenders of the New Term Loans fail to fund all or any portion of the New Term
Loans in accordance therewith prior to March 20, 2020. 
 (b)    Notwithstanding anything herein to
the contrary, no termination of this Agreement shall relieve or otherwise limit the liability of any Party for any breach of this Agreement occurring prior to such termination. This Section 8(b) and
Section 14 shall survive termination of this Agreement.

Section 9.    Effectiveness. This Agreement shall not become effective and binding on a Party unless and until
a counterpart signature page to this Agreement has been executed and delivered by such Party. 

Section 10.    Waivers and Amendments. This Agreement may be amended, modified, altered or supplemented with
respect to any Noteholder Party only by a written instrument executed by the Mallinckrodt Parties and such Noteholder Party. Any failure of a Party to comply with any obligation, covenant, agreement or condition in this Agreement may be waived by
the Party or Parties entitled to the benefits thereof only by a written instrument signed by the Party or Parties granting such waiver. No delay on the part of any Party in exercising any right, power or privilege under this Agreement will operate
as a waiver thereof; nor will any waiver on the part of any party to this Agreement of any right, power or privilege under this Agreement operate as a waiver of any other right, power or privilege under this Agreement, nor will any single or partial
exercise of any right, power or privilege under this Agreement preclude any other or further exercise thereof or the exercise of any other right, power or privilege under this Agreement. 

Section 11.    Holder Waiver. Each Noteholder Party acknowledges and agrees that the exchange of any Existing
5.625% 2023 Notes pursuant to the 2023 Exchange shall effect a waiver of claims with respect to such Existing 5.625% 2023 Notes and the related Indenture to the same extent as such claims will be waived by holders of Existing 5.75% 2022 Notes with
respect thereto and the related Indenture by virtue of the tender thereof pursuant to the 2022 Exchange Offer. 

  
 12 

 Section 12.    Agreements Coupled with an Interest. The
agreements contained herein relating to tendering and delivery of consents are coupled with an interest and, except as expressly contemplated herein, may not be revoked during the term of this Agreement. 

Section 13.    No Admissions and Reservation of Rights. Nothing herein shall be deemed an admission of any
kind. The Parties acknowledge and agree that this Agreement and all negotiations relating thereto shall not be admissible into evidence in any proceeding, other than a proceeding to enforce the terms of this Agreement. Except as expressly provided
in this Agreement, nothing herein is intended to, or does, in any manner waive, limit, impair, or restrict any rights, remedies and interests of the Parties. Without limiting the foregoing sentence in any way, if the 2022 Exchange Offer is not
consummated, or if this Agreement is terminated for any reason, each of the Parties fully reserves any and all of its rights, remedies, and interests. 

Section 14.    Miscellaneous. 

(a)    Notices. Any notices or other communications required or permitted under, or otherwise given in connection
with, this Agreement will be in writing and will be deemed to have been duly given (i) when delivered or sent if delivered in person by courier service or messenger or sent by email or (ii) on the next business day if transmitted by
international overnight courier, in each case as follows: 
 If to any Mallinckrodt Party, addressed to: 

Mallinckrodt International Finance S.A. 

124, boulevard de la Pétrusse 

L - 2330 Luxembourg 
 R.C.S.
Luxembourg: B172865 
 Attention:          Marie Luporsi 

Email:                Marie.Luporsi@mnk.com 

Phone:                +352 27 17 72 11 

with a copy to (for informational purposes only): 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York,
New York 10019 
 Attention:          Victor Goldfeld and John R. Sobolewski 

Email:                VGoldfeld@wlrk.com and
JRSobolewski@wlrk.com 
 Phone:                (212) 403-1005 
 If to a Noteholder Party, addressed to it at the address set forth on such Noteholder
Party’s signature page attached hereto. 
 with a copy to (for informational purposes only): 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

  
 13 

 1285 Avenue of the Americas 

New York, New York 10019 

Attention:          Andrew N. Rosenberg, Alice Belisle Eaton and Caith Kushner 

Email:               ARosenberg@paulweiss.com, AEaton@paulweiss.com
and CKushner@paulweiss.com 
 Phone:               (212) 373-3000 
 (b)    Governing Law. This Agreement will be governed by, and
construed in accordance with, the laws of the State of New York, without regard to laws that may be applicable under conflicts of laws principles (whether of the State of New York or any other jurisdiction) that would cause the application of the
laws of any jurisdiction other than the State of New York. 
 (c)    Venue. By execution and delivery of this
Agreement, each of the Parties irrevocably and unconditionally agrees that any legal action, suit, or proceeding with respect to any matter under or arising out of or in connection with this Agreement, or for recognition or enforcement of any
judgment rendered in any such action, suit, or proceeding, shall be brought in a court of competent jurisdiction located in the City of New York. Each Party irrevocably waives any objection it may have to the venue of any action, suit, or proceeding
brought in such court or to the convenience of the forum. 
 (d)    Personal Jurisdiction. By execution and
delivery of this Agreement, each of the Parties irrevocably and unconditionally submits to the personal jurisdiction of a court of competent jurisdiction located in the City of New York for purposes of any action, suit or proceeding arising out of
or relating to this Agreement. 
 (e)    Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY
CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (ii) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (iii) IT MAKES SUCH WAIVERS VOLUNTARILY, AND (iv) IT HAS
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 14(e). 

(f)    Remedies. The Parties agree that irreparable damage would occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties will be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to
enforce specifically the terms and provisions hereof in any court of appropriate jurisdiction, 

  
 14 

 
this being in addition to any other remedy to which they are entitled at law or in equity. Except as otherwise provided in this Agreement, any and all remedies in this Agreement expressly
conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such Party, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy. 

(g)    Severability. If any term or other provision of this Agreement is determined to be invalid, illegal or
incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will negotiate in good faith to modify this Agreement so
as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent possible. 

(h)    Assignment. This Agreement and the rights and obligations hereunder may not be assigned or otherwise
transferred by any Party by operation of law or otherwise without the prior written consent of the other Parties; provided that any Noteholder Party may Transfer its Existing 5.750% 2022 Notes in the manner set forth in, and to the extent
permitted by, Section 6 hereof. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by the Parties and their respective permitted successors and assigns. Any assignment in
violation of the foregoing shall be null and void ab initio. 
 (i)    No Third-Party Beneficiaries.
Unless expressly stated or referred to herein, this Agreement shall be solely for the benefit of the Parties and no other person shall be a third-party beneficiary of this Agreement. 

(j)    Entire Agreement. This Agreement, together with all exhibits attached hereto, constitutes the entire
understanding and agreement among the Parties with regard to the subject matter hereof and supersedes all prior agreements among the Parties with respect thereto. 

(k)    Counterparts. This Agreement may be executed in one or more counterparts (which may include counterparts
delivered by any standard form of telecommunication), and by the different Parties in separate counterparts, each of which when executed will be deemed to be an original but all of which taken together will constitute one and the same agreement.
Facsimile copies or “PDF” or similar electronic data format copies of signatures shall constitute original signatures for all purposes of this Agreement and any enforcement hereof. 

(l)    Headings. The headings contained in this Agreement are for reference purposes only and will not affect in
any way the meaning or interpretation of this Agreement. 
 (m)    Acknowledgement. This Agreement is not and
shall not be deemed to be a solicitation for any 2022 Exchange Offer or any 2022 Consent Solicitation. 

  
 15 

 (n)    Interpretation. This Agreement is the product of
negotiations among the Parties, and in the enforcement or interpretation hereof, is to be interpreted in a neutral manner, and any presumption with regard to interpretation for or against any Party by reason of that Party having drafted or caused to
be drafted this Agreement, or any portion hereof, shall not be effective in regard to the interpretation hereof. 
 [Signature pages
follow] 

  
 16 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of the date first
above set forth. 
  

			
	MALLINCKRODT INTERNATIONAL FINANCE S.A.
		
	By:	 	 /s/ John E. Einwalter

	Name:	 	John E. Einwalter
	Title:	 	Director
	
	MALLINCKRODT CB LLC
		
	By:	 	 /s/ John E. Einwalter

	Name:	 	John E. Einwalter
	Title:	 	Vice President & Treasurer
	
	MALLINCKRODT PLC
		
	By:	 	 /s/ John E. Einwalter

	Name:	 	John E. Einwalter
	Title:	 	Vice President & Treasurer

  
 [Signature page to
Support and Exchange Agreement] 

 IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
set forth. 
  

			
	NOTEHOLDER PARTIES
	
	AURELIUS CAPITAL MASTER, LTD.
		
	By:	 	 /s/ Samuel Jed Rubin

	Name:	 	Samuel Jed Rubin
	Title:	 	Authorized Signatory
	
	Address:
	
	 c/o Aurelius Capital Management, LP

535 Madison Avenue, 31st Floor

New York, New York 10022
 USA

  
 [Signature page to
Support and Exchange Agreement] 

 
			
	CAPITAL RESEARCH AND MANAGEMENT COMPANY, for and on behalf of certain funds it manages
		
	By:	 	 /s/ Mark E. Brubaker

	Name:	 	Mark E. Brubaker
	Title:	 	Authorized Signatory

  

			
	Address:	 	         333 South Hope St., 55th floor

        Los Angeles, CA 90071

        Attn: Kristine Nishiyama

  
 [Signature page to
Support and Exchange Agreement] 

 
			
	FRANKLIN ADVISERS, INC., as investment manager on behalf of certain funds and accounts
		
	By:	 	 /s/ Ed Perks

	Name:	 	Ed Perks
	Title:	 	C.I.O
		
	Address:	 	
	
	1 Franklin Pkwy, San Mateo, CA 94403

  
 [Signature page to
Support and Exchange Agreement] 

 SCHEDULE II 

Non-U.S. Noteholder Parties 

[None] 

 EXHIBIT A 

TERM SHEET 

 MALLINCKRODT PLC 

NEW 2L NOTES TERM SHEET 

February 25, 2020 
  

			
	TREATMENT OF OUTSTANDING 2022 NOTES
AND NEW 2L NOTES
		
	General	 	 Outstanding 2022 Notes to be exchanged for New 2L Notes (as defined below) at par.

 
 If the amount of New 2L Notes issued in exchange for the outstanding 2022 Notes is less
than the Exchange Cap (as defined below), outstanding 2023 HY Notes to be exchanged for New 2L Notes at 90% of par such that the aggregate amount of New 2L Notes issued does not exceed the Exchange Cap.

		
	New 2L Notes	 	New Second Lien Senior Secured Notes, consistent with the terms set forth below (the “New 2L Notes”)
		
	Issuers	 	Mallinckrodt International Finance S.A. and Mallinckrodt CB LLC
		
	Amount	 	Up to $610,304,000 (the “Exchange Cap”)
		
	Accrued and Unpaid Interest	 	Upon consummation of the exchange, all accrued and unpaid interest on the exchanged outstanding 2022 Notes and, if applicable, exchanged outstanding 2023 HY Notes, to be paid in full in cash
		
	Coupon	 	10.00%, payable in cash on a semi-annual basis
		
	Maturity	 	April 15, 2025
		
	Guarantees	 	Same guarantors as New TLs (as defined in the Amended 1L Credit Agreement Term Sheet (as defined below)), subject to exceptions consistent with the existing 2L notes
		
	Collateral	 	Second lien security interest on assets subject to liens securing the debt under the Amended 1L Credit Agreement, subject to exceptions consistent with the existing 2L notes
		
	Intercreditor Agreements	 	 New 2L Notes to become a party (as 2L debt) to the existing 1L/2L intercreditor agreement

 
 New 2L Notes to agree to terms of 2L intercreditor agreement with holders of existing 2L
notes (which shall be on market terms reasonably acceptable to Issuers)

			
	Put	 	Puttable to the issuer at 101% of par upon a change of control
		
	Mandatory Prepayments	 	As in the existing 2L notes.
		
	Call Protection	 	110 through yr2, 105-yr3, 102.5-yr4, par thereafter; automatic acceleration upon bankruptcy
		
	Affirmative & Negative Covenants	 	 As set forth in the existing 2L notes (except basket usage and builders calculated only from issuance date of New 2L Notes), with the
following amendments:
  
 Add covenant that (i) a draft of any confirmation order
confirming any chapter 11 plan in any chapter 11 case with respect to some or all of the Unrestricted SGx Subsidiaries (as defined below) shall be delivered to the Backstop Group and the Specified Noteholders (each as defined in the Amended 1L
Credit Agreement Term Sheet (as defined below)) in advance of the filing thereof and (ii) the Issuers shall consult with the Backstop Group and the Specified Noteholders (if requested thereby) as to the terms thereof and (iii) the terms
thereof shall not prohibit the granting of guarantees or liens by the Unrestricted SGx Subsidiaries to the extent required by Amended 1L Credit Agreement or the New 2L Notes.
  

Add covenant that, upon emergence from any chapter 11 plan that is implemented through the unrestriction of any Unrestricted SGx Subsidiaries, each
Unrestricted SGx Subsidiary shall be designated as a Restricted Subsidiary, become a Guarantor, and grant liens on its assets and enter into deposit account control agreements to secure the New 2L Notes in accordance with the collateral provisions
outlined above on or before the date of re-restriction (with customary grace periods for perfection steps consistent with the Amended 1L Credit Agreement) (any breach of such covenant to be an immediate Event
of Default).
  
 Add covenant restricting pledge of any fee owned Real Property (as
defined in the indenture for the existing 2L notes) and leasehold interests in Real Property, including Principal Properties (as defined in the 4.75% 2023 notes indenture), as security for debt for borrowed money (other than debt incurred to fund
the acquisition or improvement of the real property subject to such pledge) unless such Real Property is also pledged to secure the obligations under Amended 1L Credit Agreement and the New 2L Notes.

 
 Debt:
  

•  Credit Agreement Basket (4.03(b)(i)): Greater of (1) $3.25B and (2) (x) while Qualified
Ratings apply (as defined below), 2.50x pro forma 1L Net Leverage or (y) while Qualified Ratings do not apply, 2.25x pro forma 1L Net Leverage

			
		 	 •  General Basket (4.03(b)(xii)): Greater of $325mm and 3.75% of TA

 
 •  Capitalized Lease Basket
(4.03(b)(iv)): Greater of $100mm and 1.00% of TA
  

•  Non-Loan-Party Debt Basket (4.03(b)(xx)): Greater of
$225mm and 2.50% of TA
  

•  Securitization Basket (4.03(b)(xvii)): Greater of $200mm and 2.00% of TA

 
 Liens:1

 
 •  First Lien Basket (Clause
6(B)(y)): (x) while Qualified Ratings apply, 2.50x pro forma 1L Net Leverage or (y) while Qualified Ratings do not apply, 2.25x pro forma 1L Net Leverage
  

•  General Basket (Clause (25)): Greater of $100mm and 1.25% of TA

 
 Restricted Payments:

 
 •  Cumulative Credit: Builder
accrues only issue date (i.e., beginning with first fiscal quarter ending after issue date)
  

•  General Basket (4.04(b)(x)): Greater of $225mm and 2.50% of TA

 
 •  “Excluded
Contributions” accrue only from issue date
  

•  “Restricted Payments” to include prepayments of junior lien or unsecured debt with
unlimited basket for payments made on such debt within one year of the maturity thereof.
  

Investments:
  

•  General Basket (Clause (10)): Greater of $500mm and 5.00% of TA

 
 •  Similar Business (Clause
(9)): Greater of $200mm and 2.25% of TA
  

•  JV/Unrestricted Sub (Clause (23)): Greater of $225mm and 2.50% of TA

 

•  Carve-out for unrestriction of SGx entities
(“Unrestricted SGx Subsidiaries”)
  
 “Restructuring/Settlement
Transactions”, to be defined to capture the transactions contemplated by the Litigation Settlement (as defined in the Exchange Agreement to which this term sheet is attached), and covenants to permit consummation thereof.

 
 Calculation of all leverage ratios and TA calculations for purposes of covenants shall
include only the EBITDA, cash or assets, as the case may be, of Subsidiaries (i.e., EBITDA, cash and assets of Unrestricted SGx Subsidiaries excluded from calculations)

  

	1 	 NTD: For the avoidance of doubt, existing 2L notes contain (and New 2L Notes will contain) a second lien basket
set at 3.50x 1L/2L Net Leverage. 

			
		  	“Qualified Ratings” means Mallinckrodt’s public corporate family ratings (or equivalent) include at least two of the following ratings: a rating equal to or higher than B2 from Moody’s, a rating equal to
or higher than B from S&P or a rating equal to or higher than B from Fitch.
		
	Consent Solicitation	  	Exchanging holders will consent to the elimination or waiver of substantially all of the restrictive covenants contained in the 2022 Notes and the associated indenture, and the elimination of certain events of default, modification
of the covenant regarding mergers and the transfer of assets, and modification and elimination, as applicable, of certain other provisions, including covenants regarding future guarantors and certain provisions relating to defeasance.
		
	Conditions to Exchange Offers and Consent Solicitations	  	 Conditions consistent in all material respects with those set forth in the Offering Memorandum relating to the offers to exchange notes of
the Issuers and related consent solicitations and dated November 5, 2019, plus conditions substantially to the effect of the following:
  

1.    No events have occurred that materially and adversely affect the ability to implement the Litigation Settlement;

 
 2.    The New TLs shall have been funded in full, and the Amended 1L
Credit Agreement shall have become effective, in each case in accordance with the Amended 1L Credit Agreement Term Sheet dated February 25, 2020 (the “Amended 1L Credit Agreement Term Sheet”), prior to the settlement date of
the exchange offer.

*        *        *       
 * 

 EXHIBIT B 

FORM OF JOINDER 
 The undersigned
(“Transferee”) hereby acknowledges that it has read and understands that certain Support and Exchange Agreement, dated as of February 25, 2020 (as it may be amended in accordance with its terms, the
“Agreement”), by and among Mallinckrodt International Finance S.A., Mallinckrodt CB LLC, Mallinckrodt plc and the other parties thereto, and in accordance with Section 6 of the Agreement, (i) agrees to
be bound by the terms and conditions of the Agreement and shall be deemed a “Noteholder Party” under the terms of the Agreement pursuant to the terms and conditions thereof; (ii) hereby makes all representations and warranties made
therein by all other Noteholder Parties; and (iii) shall be deemed a Noteholder Party under the terms of the Agreement with respect to all Existing 5.750% 2022 Notes (as defined in the Agreement) acquired by it. All notices and other
communications given or made pursuant to the Agreement shall be sent to the Transferee at the address set forth below in the Transferee’s signature. 

 ANNEX I 

Amendment 
 The Amendment will reduce the minimum
optional redemption notice periods in Section 3.05 of the 2020 Indenture and in Paragraphs 5 and 8 of the Existing 4.875% 2020 Notes from 30 days to three Business Days (as defined in the 2020 Indenture).EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
 SUPPORT
AGREEMENT 
 This Support Agreement (together with the exhibits, annexes, and schedules attached hereto, this
“Agreement”), dated as of February 25, 2020, is by and among (i) Mallinckrodt International Finance S.A., a société anonyme existing under the laws of Luxembourg (“MIFSA”), Mallinckrodt CB
LLC, a Delaware limited liability company (“MCB” and, together with MIFSA, the “Borrowers”), and Mallinckrodt plc, a public limited company incorporated in Ireland and the ultimate parent entity of the Borrowers
(“Mallinckrodt Parent” and together with the Borrowers, the “Mallinckrodt Parties”), (ii) each party set forth on Schedule 1 (each, a “Noteholder Party”, and collectively, the
“Noteholder Parties”) committing to provide the New Term Loans, subject to the terms and conditions set forth herein (as defined below), (iii) each party set forth on Schedule 2A (each, a “Funding Term
Lender” and, collectively, the “Funding Term Lenders”; collectively, with the Noteholder Parties, the “Funding Parties”) committing to consent to and otherwise support entry into the Amendment (as defined
below) and to provide the New Term Loans, subject to the terms and conditions set forth herein, (iv) each party set forth on Schedule 2B (each, an “Extending Revolving Lender” and collectively, the “Extending
Revolving Lenders”) committing to extend their Revolving Facility Loans and Revolving Facility Commitments (each as defined below) and consent to the amendments to be set forth in the Amendment, and (v) each party set forth on
Schedule 2C (collectively with Schedule 1, Schedule 2A, and Schedule 2B, the “Schedules”) committing to consent to and otherwise support entry into the Amendment (each, a “Consenting Secured Lender” , and
collectively, the “Consenting Secured Lenders” and, together with the Noteholder Parties, the Extending Revolving Lenders, and the Funding Term Lenders, the “Lender Parties,” and, individually, a “Lender
Party”). The Borrowers and the Lender Parties are referred to herein collectively as the “Parties.” 
 RECITALS

 WHEREAS, the Borrowers previously entered into that certain Credit Agreement, dated March 19, 2014 (as amended, supplemented or
otherwise modified from time to time, the “Existing Credit Agreement”), by and among the Borrowers, Mallinckrodt Parent, the lenders party thereto, and Deutsche Bank AG New York Branch, as administrative agent (in such capacity, the
“Administrative Agent”); 
 WHEREAS, the Parties have agreed to certain terms and conditions set forth in the term sheet attached
as Exhibit A hereto (the “Term Sheet”) relating to an amendment to the Existing Credit Agreement (the “Amendment” and the Existing Credit Agreement, as amended by the Amendment, the “Amended Credit
Agreement”) that, among other things, (i) provides for commitments (on a several, but not joint basis) (each, a “New Commitment,” and collectively, the “New Commitments”) of $800 million in
aggregate principal amount of new term loans thereunder on the terms and subject to the conditions set forth in the Term Sheet (the “New Term Loans”) and this Agreement, (ii) extends the maturity date of certain of the
Revolving Facility Commitments and Revolving Facility Loans (each as defined in the Existing Credit Agreement) on the terms set forth in the Term Sheet, with such extended Revolving Facility Loans and Revolving Facility Commitments to constitute a
new class of revolving loans and commitments; and (iii) makes certain other changes to the terms and conditions of the Existing Credit Agreement on the terms set forth in the Term Sheet; and 

 WHEREAS, each Party intends to execute the Definitive Documentation (as defined below) and
fulfill its obligations thereunder subject to the terms and conditions set forth in this Agreement. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Parties hereby agrees as follows: 

Section 1.    Commitments. 

(a)    In connection with the Amendment and subject to the terms and conditions set forth in this Agreement (including in
Section 1(b)) and the Term Sheet, (i) each Noteholder Party commits (on a several, but not joint, basis) to provide the New Term Loans in the amounts set forth on Schedule 1, (ii) each Funding Term Lender commits (on a several, but
not joint, basis) to provide the New Term Loans in the amounts set forth on Schedule 2A pursuant to the Amended Credit Agreement and agrees to consent to the amendments set forth in the Amendment and to enter into the Amendment with respect
to all Loans and Commitments (each as defined in the Existing Credit Agreement) set forth on Schedule 2A; provided that certain accounts or funds managed by or affiliates of such Funding Term Lender may provide such New Term Loans (including
through assignment), and each Funding Term Lender may allocate its share of the New Term Loans among such accounts, funds or affiliates in its sole discretion; provided, however, that no allocation in accordance with the immediately preceding
proviso shall release any Funding Term Lender of its obligation to the provide the New Term Loans, (iii) each Extending Revolving Lender commits to extend its Revolving Facility Loans and Revolving Facility Commitments under the Existing Credit
Agreement pursuant to the Amended Credit Agreement and agrees to consent to the amendments set forth in the Amendment and to enter into the Amendment with respect to all Loans and Commitments set forth on Schedule 2B, and (iv) each
Consenting Secured Lender commits to consent to the amendments set forth in the Amendment and to enter into the Amendment with respect to all Loans and Commitments set forth on Schedule 2C. 

(b)    The effectiveness of the Amendment, including the New Commitment hereunder by a Funding Party, is subject to the
following conditions: (i) the satisfaction of all conditions precedent contained in the Term Sheet, (ii) the completion of Definitive Documents consistent with the Term Sheet and otherwise in form and substance reasonably acceptable to
each Funding Party and each Mallinckrodt Party, (iii) no Funding Party or other Lender (as defined in the Existing Credit Agreement) has received any more favorable terms with respect to the New Term Loans or the Amendment than those currently
contemplated in the Term Sheet, (iv) no Default or Event of Default exists and is continuing under the Existing Credit Agreement, and (v) all representations and warranties of the Company and the other Loan Parties set forth
(A) herein and (B) in the Amendment and the Amended Credit Agreement and any Loan Document related thereto, shall be true and correct in all material respects (or, with respect to those representations and warranties expressly limited by
their terms by materiality or material adverse effect qualifications, in all respects) as of the date of the Amendment (except to extent that such representations and warranties expressly relate to an earlier date, in which case they shall be true
and correct in all material respects as of such date). 

  
 2 

 (c)    It is acknowledged that the Lender Parties and/or their
respective affiliates, other than the Noteholder Parties, may be acting as lenders (and, in the case of the Administrative Agent, as administrative agent) under the Existing Credit Agreement, and that none of such rights and obligations under the
Existing Credit Agreement shall be affected, prior to the effectiveness of the Amendment (and then only to the extent contemplated thereby) by the Lender Parties’ performance or lack of performance of its obligations hereunder. The terms of
this paragraph shall survive the expiration or termination of this Agreement for any reason whatsoever. 
 (d)    It is
acknowledged and agreed by the Parties that the Noteholder Parties are holders of certain 5.750% Senior Notes due 2002 (the “Existing 5.750% 2022 Notes”) and 5.625% Senior Notes due 2023 (the “Existing 5.625% 2023 Notes” and
together with the Existing 5.750% 2022 Notes, the “Existing Notes”), and that, substantially contemporaneously with the execution of this Agreement and in contemplation thereof, the Borrowers and the Noteholder Parties are entering into a
Support and Exchange Agreement dated as of February 25, 2020 (the “Exchange Agreement”) pursuant to which the Noteholder Parties will exchange certain of the Existing Notes into second lien notes in accordance with the terms and
conditions of the Exchange Agreement (the “Exchange”), and it is further acknowledged that the Exchange does not cause Section 1(b)(iii) of this Agreement to not be satisfied or implicate Section 4(c) of this Agreement. 

Section 2.    Representations and Warranties of the Parties. Each Lender Party (other than the Administrative
Agent, except with respect to clause (d)) hereby represents and warrants, severally and not jointly, to Mallinckrodt Parent and the Borrowers, that the following statements are true and correct as of the date hereof: 

(a)    Such Party has all necessary corporate or similar power and authority to execute and deliver this Agreement and to
perform its obligations hereunder. 
 (b)    This Agreement has been duly and validly executed and delivered by such
Party. This Agreement constitutes the valid and binding obligation of such Party, enforceable against such Party in accordance with its terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or
at law). 
 (c)    The execution, delivery and performance of this Agreement by such Party, and such Party’s
compliance with the provisions hereof, will not (with or without notice or lapse of time, or both): (i) violate any provision of such Party’s organizational or governing documents; (ii) violate any law or order applicable to such Party; or
(iii) require any consent or approval under, violate, result in any breach of, or constitute a default under, or result in termination or give to others any right of termination, amendment, acceleration or cancellation of any contract,
agreement, arrangement or understanding that is binding on such Party, except, 

  
 3 

 
in the case of clause (ii) and (iii) above, where not reasonably likely to have a material adverse effect on the ability of such Party to perform its obligations under this Agreement or the
transactions contemplated hereby. 
 (d)    The principal amount of loans pursuant to the Existing Credit Agreement
owned by such Lender Party, as of the date hereof, is set forth on Schedule 2A, Schedule 2B, or Schedule 2C, as applicable. 

Section 3.    Representations and Warranties of the Borrowers. Each Borrower hereby represents and warrants,
severally and not jointly, to the Lender Parties that the following statements are true and correct as of the date hereof: 

(a)    Such Party has all necessary corporate or similar power and authority to execute and deliver this Agreement and to
perform its obligations hereunder. 
 (b)    This Agreement has been duly and validly executed and delivered by such
Party. This Agreement constitutes the valid and binding obligation of such Party, enforceable against such Party in accordance with its terms, except as may be limited by (i) the effects of bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or
at law). 
 (c)    The execution, delivery and performance of this Agreement by such Party, and such Party’s
compliance with the provisions hereof, will not (with or without notice or lapse of time, or both): (i) violate any provision of such Party’s organizational or governing documents; (ii) violate any law or order applicable to such Party; or
(iii) require any consent or approval under, violate, result in any breach of, or constitute a default under, or result in termination or give to others any right of termination, amendment, acceleration or cancellation of any contract,
agreement, arrangement or understanding that is binding on such Party (other than such consents as are contemplated by this Agreement), except, in the case of clause (ii) and (iii) above, where not reasonably likely to have a material adverse
effect on the ability of such Party to perform its obligations under this Agreement or the transactions contemplated hereby. 

Section 4.    Covenants. 

(a)    Each of the Parties hereby covenants and agrees to negotiate in good faith, and use its good faith efforts, to
execute, as expeditiously as reasonably possible, the Amendment and any related definitive documentation contemplated by the Term Sheet (together with the Amendment, the “Definitive Documentation”), on terms consistent with the Term
Sheet. 
 (b)    Within two (2) business days of the date hereof, the Mallinckrodt Parties shall pay in full all
accrued and unpaid fees and expenses of Gibson, Dunn & Crutcher LLP and Paul, Weiss, Rifkind & Garrison LLP, to the extent documented in an invoice which is provided to the Mallinckrodt Parties prior to the execution of this
Agreement, in each case which are accrued on or prior to the Execution Date, and in each case in accordance with the 

  
 4 

 
terms of the applicable fee letter or engagement letter in effect as of the date hereof between Mallinckrodt and such counsel other than with respect to timing of payment, which shall be in
accordance with this Section 4(b). 
 (c)    In the event any Funding Party or other Lender receives any more
favorable terms with respect to the New Term Loans or the Amendment than those currently contemplated in the Term Sheet, any such more favorable term shall automatically be deemed incorporated into the Term Sheet and any other Definitive Documents,
as applicable. 
 Section 5.    Termination. 

(a)     This Agreement and the obligations of the Parties hereunder will terminate upon the earliest of (i) mutual
written consent of the Parties, (ii) March 20, 2020, (iii)(A) in the case of any of the Lender Parties, the breach of any of the terms hereunder by the Mallinckrodt Parties, and (B) in the case of the Mallinckrodt Parties, the breach
of any other Party of any of the terms hereunder, or (iv) the issuance or incurrence (or the entry into an agreement in principle in respect thereof) on or after the date hereof and prior to the effectiveness of the Amendment by any of the
Mallinckrodt Parties’ or their subsidiaries that are guarantors under the Existing Credit Agreement of any indebtedness for borrowed money to third parties (including refinanced, replaced or exchanged indebtedness) with a priority equal to or
senior, or structurally senior to, to the priority of the Loans (as defined in the Existing Credit Agreement) or with a maturity date any earlier than any of the 2017 Term B Facility Maturity Date, the 2018 Incremental Term Facility Maturity Date,
or the Revolving Facility Maturity Date (each term as defined in the Existing Credit Agreement). 

(b)    Notwithstanding anything herein to the contrary, no termination of this Agreement shall relieve or otherwise limit
the liability of any Party for any breach of this Agreement occurring prior to such termination. This Section 5(b) and Section 10 shall survive termination of this Agreement.

Section 6.    Effectiveness. This Agreement shall not become effective and binding on the Parties unless and
until a counterpart signature page to this Agreement has been executed and delivered by such Party. 

Section 7.    Waivers and Amendments. This Agreement may be amended, modified, altered or supplemented with
respect to any Lender Party only by a written instrument executed by the Borrowers and such Lender Party. Any failure of a Party to comply with any obligation, covenant, agreement or condition in this Agreement may be waived by the Party or Parties
entitled to the benefits thereof only by a written instrument signed by the Party or Parties granting such waiver. No delay on the part of any Party in exercising any right, power or privilege under this Agreement will operate as a waiver thereof;
nor will any waiver on the part of any party to this Agreement of any right, power or privilege under this Agreement operate as a waiver of any other right, power or privilege under this Agreement, nor will any single or partial exercise of any
right, power or privilege under this Agreement preclude any other or further exercise thereof or the exercise of any other right, power or privilege under this Agreement. 

  
 5 

 Section 8.    Agreements Coupled with an Interest. The
agreements contained herein relating to tendering and delivery of consents are coupled with an interest and, except as expressly contemplated herein, may not be revoked during the term of this Agreement. 

Section 9.    No Admissions and Reservation of Rights. Nothing herein shall be deemed an admission of any
kind. The Parties acknowledge and agree that this Agreement and all negotiations relating thereto shall not be admissible into evidence in any proceeding, other than a proceeding to enforce the terms of this Agreement. Except as expressly provided
in this Agreement, nothing herein is intended to, does, or shall be deemed in any manner to waive, limit, impair, or restrict the ability of each of the Lender Parties to protect and preserve its rights, remedies and interests, including, but not
limited to, any of their rights and remedies, under the Existing Credit Agreement and other Loan Documents (as defined in the Existing Credit Agreement). Without limiting the foregoing sentence in any way, if this Agreement is terminated for any
reason or the transactions contemplated by this Agreement are not consummated as provided herein, each of the Parties fully reserves any and all of its respective rights, remedies, and interests. 

Section 10.    Miscellaneous. 

(a)    Notices. Any notices or other communications required or permitted under, or otherwise given in connection
with, this Agreement will be in writing and will be deemed to have been duly given (i) when delivered or sent if delivered in Person by courier service or messenger or sent by email or (ii) on the next business day if transmitted by
international overnight courier, in each case as follows: 
 If to any Mallinckrodt Party, addressed to: 

Mallinckrodt International Finance S.A. 

124, boulevard de la Pétrusse 

L - 2330 Luxembourg 
 R.C.S.
Luxembourg: B172865 
 Attention:        Marie Luporsi 

Email:             Marie.Luporsi@mnk.com 

Phone:             +352 27 17 72 11 

with a copy to (for informational purposes only): 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York,
New York 10019 
 Attention:        Victor Goldfeld and John R. Sobolewski 

Email:             VGoldfeld@wlrk.com and JRSobolewski@wlrk.com 

Phone:             (212) 403-1000 

  
 6 

 If to a Noteholder Party, addressed to it at the address set forth on such Noteholder
Party’s signature page attached hereto. 
 with a copy to (for informational purposes only): 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 
 New
York, New York 10019 
 Attention:        Andrew N. Rosenberg, Alice Belisle Eaton and Caith Kushner

 Email:             ARosenberg@paulweiss.com, AEaton@paulweiss.com and
CKushner@paulweiss.com 
 Phone:             (212) 373-3000 
 If to a Secured Term Lender, addressed to it at the address set forth on such Secured Term
Lender’s signature page attached hereto. 
 with a copy (for informational purposes only): 

Gibson, Dunn & Crutcher LLP 

200 Park Avenue 
 New York, New
York 10166 
 Attention:        Scott J. Greenberg, Steven A. Domanowski, Michael J. Cohen 

Email:             sgreenberg@gibsondunn.com, sdomanowski@gibsondunn.com,
mcohen@gibsondunn.com 
 Phone:             (212) 351-4000 
 If to a Secured Revolving Lender, addressed to it at the address set forth on such Secured
Revolving Lender’s signature page attached hereto. 
 with a copy (for informational purposes only): 

[●] 

(b)    Governing Law. This Agreement will be governed by, and construed in accordance with, the laws of the State
of New York, without regard to laws that may be applicable under conflicts of laws principles (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New
York. 
 (c)    Venue. By execution and delivery of this Agreement, each of the Parties irrevocably and
unconditionally agrees that any legal action, suit, or proceeding with respect to any matter under or arising out of or in connection with this Agreement, or for recognition or enforcement of any judgment rendered in any such action, suit, or
proceeding, shall be brought in a court of competent jurisdiction located in the City of New York. Each Party irrevocably waives any objection it may have to the venue of any action, suit, or proceeding brought in such court or to the convenience of
the forum. 
 (d)    Personal Jurisdiction. By execution and delivery of this Agreement, each of the Parties
irrevocably and unconditionally submits to the personal jurisdiction of a court of competent jurisdiction located in the City of New York for purposes of any action, suit or proceeding arising out of or relating to this Agreement. 

  
 7 

 (e)    Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES
THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (ii) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (iii) IT MAKES SUCH WAIVERS VOLUNTARILY, AND
(iv) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10(e). 

(f)    Remedies. The Parties agree that irreparable damage would occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties will be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to
enforce specifically the terms and provisions hereof in any court of appropriate jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. Except as otherwise provided in this Agreement, any and all
remedies in this Agreement expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such Party, and the exercise by a party of any one remedy will not preclude
the exercise of any other remedy. 
 (g)    Severability. If any term or other provision of this Agreement is
determined to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance
of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will negotiate in good
faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the extent possible. 

(h)    Assignment. This Agreement and the rights and obligations hereunder may not be assigned or otherwise
transferred by any Party by operation of law or otherwise without the prior written consent of the other Parties; provided that this Agreement shall not prohibit any Lender Party (a “Transferor”) from assigning or otherwise
transferring any Loans or Commitments under the Existing Credit Agreement which are held thereby to another person (a “Transferee”) to the extent such transfer is permitted by and consummated in accordance with the Existing Credit
Agreement (a “Transfer”), provided that as a condition 

  
 8 

 
precedent to the effectiveness of any such Transfer, such Transferee executes and delivers a joinder agreement substantially in the form attached hereto as Exhibit B to counsel to the
Borrowers (as set forth in Section 10(a) hereof) at or prior to the time of such Transfer, and such Transferee shall assume all obligations of the Transferor with respect such rights or obligations; it being understood that nothing in this
sentence shall require any Transferor (or permit any Transferor, to the extent such assignment is subject to restriction) to assign all or any portion of its New Commitments as a result of any Transfer. With respect to any Transfers effectuated in
accordance with the immediately preceding sentence, (A) such transferee shall be deemed to be a Lender Party for purposes of this Agreement, and (B) the Borrowers shall be deemed to have acknowledged such Transfer. Notwithstanding anything
to the contrary herein, the Funding Parties may not assign or otherwise transfer any New Commitments to provide the New Term Loans (other than to another Lender Party) at any time without the consent of the Mallinckrodt Parties. Subject to the
preceding three sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by the Parties and their respective permitted successors and assigns. Any assignment in violation of the foregoing shall be null and void
ab initio. 
 (i)    No Third-Party Beneficiaries. Unless expressly stated or referred to herein, this
Agreement shall be solely for the benefit of the Parties and no other person or entity shall be a third-party beneficiary of this Agreement. 

(j)    Entire Agreement. This Agreement, together with all exhibits attached hereto, constitutes the entire
understanding and agreement among the Parties with regard to the subject matter hereof and supersedes all prior agreements among the Parties with respect thereto. 

(k)    Counterparts. This Agreement may be executed in one or more counterparts (which may include counterparts
delivered by any standard form of telecommunication), and by the different Parties in separate counterparts, each of which when executed will be deemed to be an original but all of which taken together will constitute one and the same agreement.
Facsimile copies or “PDF” or similar electronic data format copies of signatures shall constitute original signatures for all purposes of this Agreement and any enforcement hereof. 

(l)    Headings. The headings contained in this Agreement are for reference purposes only and will not affect in
any way the meaning or interpretation of this Agreement. 
 (m)    Interpretation. This Agreement is the product
of negotiations among the Parties, and in the enforcement or interpretation hereof, is to be interpreted in a neutral manner, and any presumption with regard to interpretation for or against any Party by reason of that Party having drafted or caused
to be drafted this Agreement, or any portion hereof, shall not be effective in regard to the interpretation hereof. 
 [Signature pages
follow] 

  
 9 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as of the date first
above set forth. 
  

			
	MALLINCKRODT INTERNATIONAL FINANCE S.A.
		
	By:	 	 /s/ John E. Einwalter

	Name:	 	John E. Einwalter
	Title:	 	Director
	
	MALLINCKRODT CB LLC
		
	By:	 	 /s/ John E. Einwalter

	Name:	 	John E. Einwalter
	Title:	 	Vice President & Treasurer
	
	MALLINCKRODT PLC
		
	By:	 	 /s/ John E. Einwalter

	Name:	 	John E. Einwalter
	Title:	 	Vice President & Treasurer

  
 [Signature page to
Support Agreement] 

 IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first above
set forth. 
  

			
	LENDER PARTIES
	
	GLENDON CAPITAL MANAGEMENT LP, In its capacity as investment advisor to the lenders identified in Schedules 2A and 2C
		
	By:	 	 /s/ Brian Lanktree

	Name:	 	Brian Lanktree
	Title:	 	Authorized Signatory
	
	Address: 2425 Olympic Blvd, Suite 500E Santa Monica, CA 90404
	
	RR 1 LTD
	By: Redding Ridge Asset Management LLC, Management Series 2, its collateral manager
		
	By:	 	 /s/ Joseph D. Glatt

	Name:	 	Joseph D. Glatt
	Title:	 	Authorized Signatory
		
	Address:	 	[●]
	
	RR 2 LTD
	By: Redding Ridge Asset Management LLC, Management Series 2, its collateral manager
		
	By:	 	 /s/ Joseph D. Glatt

	Name:	 	Joseph D. Glatt
	Title:	 	Authorized Signatory
		
	Address:	 	[●]

  
 [Signature page to
Support Agreement] 

 
			
	RR 4 LTD
	By: Redding Ridge Asset Management LLC, Management Series 2, its asset manager
		
	By:	 	 /s/ Joseph D. Glatt

	Name:	 	Joseph D. Glatt
	Title:	 	Authorized Signatory
		
	Address:	 	[●]
	
	CIFC Asset Management LLC
		
	By:	 	 /s/ Robert Mandery

	Name:	 	Robert Mandery
	Title:	 	Managing Director
	
	Address: 875 3rd Avenue, 24th Floor, New York, NY 10022
	
	OCTAGON CREDIT INVESTORS, LLC, on behalf of certain funds and accounts
		
	By:	 	 /s/ Thomas A. Connors

	Name:	 	Thomas A. Connors
	Title:	 	Authorized Signer
	
	Address: 250 Park Ave., 15th Floor, New York, NY 10177

  
 [Signature page to
Support Agreement] 

 
			
	MARATHON ASSET MANAGEMENT, LP,
	As investment manager for various funds and accounts
		
	By:	 	 /s/ Louis T. Hanover

	Name:	 	Louis T. Hanover
	Title:	 	Co-Managing Partner
	
	Address: 1 Bryant Park, 38th Floor, New York, NY 10036
	
	Nuveen Senior Income Fund
		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Authorized Signature
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104
	
	Nuveen Floating Rate Income Fund
		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Authorized Signer
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104

  
 [Signature page to
Support Agreement] 

 
			
	Nuveen Floating Rate Income Opportunity
	Fund	 	
		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Authorized Signatory
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104
	
	Nuveen Symphony Floating Rate Income Fund
		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Authorized Signature
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104
	
	Nuveen Short Duration Credit Opportunities Fund
		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Authorized Signer
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104

  
 [Signature page to
Support Agreement] 

 
			
	 BAYCITY SENIOR LOAN MASTER
 FUND
LIMITED, By: Symphony Asset
 Management LLC, As Investment Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104
	
	 Municipal Employees Annuity & Benefit

Fund of Chicago, By: Symphony Asset
 Management LLC, As Investment
Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104
	
	 BayCity Corporate Arbitrage and Relative

Value Fund, L.P., By: Symphony Asset
 Management LLC, As
Investment Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
	
	Address: 555 California Street, Suite 3100, San Francisco, CA 94104

  
 [Signature page to
Support Agreement] 

 
			
	 Symphony Floating Rate Senior Loan Fund,

By: Symphony Asset Management LLC, As Investment Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
		
	Address:	 	555 California Street, Suite 3100,
		 	San Francisco, CA 94104
	
	 Principal Funds, Inc. – Diversified Real Asset Fund, By: Symphony Asset Management LLC, As Investment Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
		
	Address:	 	555 California Street, Suite 3100,
		 	San Francisco, CA 94104
	
	Principal Diversified Real Asset CIT, By: Symphony Asset Management LLC, As Investment Advisor
		
	By:	 	 /s/ James Kim

	Address:	 	James Kim
	Title:	 	Co-Head of Investments
		
	Address:	 	555 California Street, Suite 3100,
		 	San Francisco, CA 94104

  
 [Signature page to
Support Agreement] 

 
			
	PENSIONDANMARK
	 PENSIONFORSIKRINGSAKTIESELSKAB,
 By:
Symphony Asset Management LLC, As Investment Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
		
	Address:	 	555 California Street, Suite 3100,
		 	San Francisco, CA 94104
	
	BayCity Alternative Investment Funds
	 SICAV-SIF – BayCity US Senior Loan Fund,

By: Symphony Asset Management LLC, As Investment Advisor

		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
		
	Address:	 	555 California Street, Suite 3100,
		 	San Francisco, CA 94104
	
	Menard, Inc., By: Symphony Asset Management LLC, As Investment Advisor
		
	By:	 	 /s/ James Kim

	Name:	 	James Kim
	Title:	 	Co-Head of Investments
		
	Address:	 	Address: 555 California Street, Suite 3100,
		 	San Francisco, CA 94104

  
 [Signature page to
Support Agreement] 

 
			
	Eaton Vance Management & Boston
	Management and Research
		
	By:	 	 /s/ Michael B. Botthof

	Name:	 	Michael B. Botthof
	Title:	 	Vice President
		
	Address:	 	[●]
	
	PGIM, Inc., on behalf of one or more funds and/or accounts for which it serves as investment manager
		
	By:	 	 /s/ Ian Johnston

	Name:	 	Ian Johnston
	Title:	 	Vice President
		
	Address:	 	[●]
	
	First Eagle Alternative Credit, LLC
		
	By:	 	 /s/ Robert Hickey

	Name:	 	Robert Hickey
	Title:	 	Senior Managing Director
		
	Address:	 	227 W. Monroe St. Suite 3200
		 	Chicago, IL 60606

  
 [Signature page to
Support Agreement] 

 
			
	Neuberger Berman Investment Advisers LLC, as investment manager of certain funds and/or accounts
		
	By:	 	 /s/ Stephen J. Casey

	Name:	 	Stephen J. Casey
	Title:	 	Managing Director
		
	Address:	 	190 South LaSalle Street, 27th Floor,
		 	Chicago, IL 60603
	
	Neuberger Berman Loan Advisers LLC, as collateral manager of certain funds
		
	By:	 	 /s/ Stephen J. Casey

	Name:	 	Stephen J. Casey
	Title:	 	Managing Director
		
	Address:	 	190 South LaSalle Street, 27th Floor,
		 	Chicago, IL 60603
	
	Each of Centerbridge Credit Partners Master, L.P. and Centerbridge Special Credit Partners III., L.P., in their individual capacities as lenders
		
	By:	 	 /s/ Vivek Melwani

	Name:	 	Vivek Melwani
	Title:	 	Authorized Signatory
		
	Address:	 	375 Park Ave, 11th Floor, New
		 	York, NY 10152

  
 [Signature page to
Support Agreement] 

 
			
	BlackRock Financial Management, Inc., on behalf of certain funds and accounts on Schedule 2A and Schedule 2C
		
	By:	 	 /s/ Robert Wartell

	Name:	 	Robert Wartell
	Title:	 	Authorized Signatory
	Address:	 	55 East 52nd Street, New York, NY 10055
	
	BlackRock Advisors, LLC, on behalf of certain funds and accounts on Schedule 2A and Schedule 2C
		
	By:	 	 /s/ Robert Wartell

	Name:	 	Robert Wartell
	Title:	 	Authorized Signatory
	Address:	 	55 East 52nd Street, New York, NY 10055
	
	BlackRock Investment Management, LLC, on behalf of certain funds and accounts on Schedule 2A and Schedule 2C
		
	By:	 	 /s/ Robert Wartell

	Name:	 	Robert Wartell
	Title:	 	Authorized Signatory
	Address:	 	55 East 52nd Street, New York, NY 10055

  
 [Signature page to
Support Agreement] 

 
			
	AURELIUS CAPITAL MASTER, LTD.
		
	By:	 	 /s/ Samuel Jed Rubin

	Name:	 	Samuel Jed Rubin
	Title:	 	Authorized Signatory
	
	Address: c/o Aurelius Capital Management, LP, 535 Madison Avenue, 31st Floor, New York, New York 10022, USA
	
	FRANKLIN CUSTODIAN FUNDS –
	FRANKLIN INCOME FUND
	
	FRANKLIN ADVISERS, INC., AS
	INVESTMENT MANAGER
		
	By:	 	 /s/ Ed Perks

	Name:	 	Ed Perks
	Title:	 	C.I.O.
	
	Address: 1 Franklin Pkwy, San Mateo, CA 94403
	
	CAPITAL RESEARCH AND MANAGEMENT COMPANY, for and on behalf of certain funds it manages
		
	By:	 	 /s/ Mark E. Brubaker

	Name:	 	Mark E. Brubaker
	Title:	 	Authorized Signatory
	
	Address: 333 South Hope St., 55th Floor, Los Angeles, CA 90071. Attn: Kristine Nishiyama

  
 [Signature page to
Support Agreement] 

 EXHIBIT A 

New Money Term Loan Financing – Summary Terms 
  

			
	Amount	  	 •  $800 million

 
 •  Backstop Group (as defined
below) shall be allocated an aggregate commitment of $400 million; remaining commitments allocated to the Specified Noteholders1 (collectively, “Additional Funding Lenders”)
solely on the same terms and conditions as contemplated herein (including, without limitation, the economic terms set forth herein).

		
	Use of Proceeds	  	 •  Up to $615 million (plus accrued and unpaid interest on 2020 notes) used
to refinance 2020 Notes; fees set forth herein and costs and expenses associated herewith may be paid from proceeds; remaining proceeds shall be used to repay on or prior to March 20, 2020 Revolver loans in an amount to be determined by the
Company (defined for purposes of this Term Sheet as Mallinckrodt plc and its applicable subsidiaries) held by Revolver lenders who consent to the extension of the maturity date of the Revolver to March 2024 and the commitments of such extending
Revolver lenders shall be permanently reduced in an amount equal to the amount of such repayment (the terms described in this clause, the “Revolver Extension Terms”).

		
	Facility	  	 •  Senior Secured First Lien Term Loan (“New TL”)

		
	Lenders	  	 •  Backstopped by certain lenders in the Ad Hoc Group of existing 1L term lenders
(the “Backstop Group”) and the Specified Noteholders, allocated as described above
  

•  Portion backstopped by the Backstop Group offered to all existing 1L term lenders
(“Existing Term Loans”) pro rata through a post-signing syndication

		
	Documentation, Conditions Precedent, Effectiveness & Drawing	  	 •  Amendment to be executed by certain Lenders (including the Backstop Group),
Administrative Agent, and the Company. Signees of the Amendment must constitute (i) Required Lenders, (ii) Required Revolving Facility Lenders and (iii) Majority Lenders of each tranche of Existing Term Loans

  

	1 	 “Specified Noteholders” means the entities set forth on Schedule I to the Exchange and Support
Agreement, dated as of February 25, 2020, between the Company and certain noteholders party thereto. 

			
		  	 •  Amendment will provide for (i) New TL commitments contemplated herein,
(ii) Credit Agreement Amendment consistent with the terms herein and (iii) Revolver Extension Terms
  

•  Amendment will be entered into and become effective on the date on which (i) the Company
delivers specified closing deliverables in form and substance consistent with prior amendments; (ii) (A) Lenders constituting (I) the Additional Funding Lenders, (II) the Backstop Group, (III) the Required Lenders, (IV) the
Required Revolving Facility Lenders and (V) the Majority Lenders of each tranche of Existing Term Loans, (B) the Administrative Agent and (C) the loan parties execute the definitive documentation for the Amendment (which shall be on
terms consistent with this term sheet); (iii) the Company has commenced the exchange offer with respect to the senior notes due 2022 issued by the Company in accordance with the Support and Exchange Agreement (which Support and Exchange Agreement
will (A) be delivered in advance to the Backstop Group, (B) provide for the exchange of such notes into notes junior to the Existing Credit Agreement Debt (as defined below) and the New TL, and (C) be entered into prior to or
simultaneously with the Amendment; and (iv) the Company pays accrued and unpaid fees and expenses of Gibson, Dunn & Crutcher LLP, Paul, Weiss, Rifkind & Garrison LLP and Evercore Group LLC in accordance with existing
agreed-upon arrangements (the “First Lien Advisors”) (such date, the “Effectiveness Date”)
  

•  New TL commitments will be funded on the Effectiveness Date

		
	Maturity	  	 •  4 years (March 2024)

		
	Collateral / Priority	  	 •  Pari passu in lien and payment priority to the Existing Credit Agreement
Debt
  
 •  First priority liens
on (i) existing secured debt collateral, including, without limitation, a guarantee from and a pledge of all the assets of the SGx subsidiaries; (ii) pledges of the stock of specified first-tier foreign subsidiaries not otherwise pledged
for the benefit of the Existing Credit Agreement Debt and the

			
		  	 New TL to the extent the pledge of the stock of each such foreign subsidiary does not impose adverse tax consequences
on the Company;2 and (iii) deposit account control agreements over all material deposit accounts with exceptions to be agreed for the benefit of the Existing Credit Agreement Debt and the New
TL, including exception for collection accounts, which guarantees, liens and deposit account control agreements in respect of the SGx subsidiaries would be automatically released upon the designation of such SGx subsidiaries as Unrestricted
Subsidiaries and restored upon the re-designation of such SGx subsidiaries as Subsidiaries (as defined in the Existing Credit Agreement ) on the effective date of a chapter 11 plan that implements an
Acceptable Opioid Settlement (such date, the “Re-Restriction Date”) (with customary grace periods and provision for mutually-agreed extensions for perfection steps other than deliveries of
certificated collateral and filing of UCC-1s); provided that, upon the occurrence of the Settlement Termination Date (as defined below) and to the extent permitted under applicable law, the borrowers
shall take such actions as are necessary to cause the Unrestricted SGx Entities to be (i) re-designated as Subsidiaries, (ii) become Guarantors, and (iii) grant liens on their respective assets
to secure the Existing Term Loans and the New TL (with customary grace periods and provision for mutually-agreed extensions for perfection steps other than deliveries of certificated collateral and filing of
UCC-1s).

		
	Pricing	  	 •  L + 650 bps

		
	Transaction Payments	  	 •  Backstop payment: 2.00%, payable in cash to Backstop Group and the Specified
Noteholders, pro rata in accordance with their allocations
  

•  Commitment payment: 2.00%, payable in cash to all participating lenders (including the Backstop
Group and the Specified Noteholders) pro rata in accordance with their commitments
  

Transaction Payments to be made on the Effectiveness Date

  

	2 	 NTD: Intended to be list provided by GDC as of 2/21 (or immediate parent thereof, where listed entity is held
by CFC holdco). Subject to ongoing tax diligence. 

			
	Call Protection	  	 •  103, 102, 101, par

	Financial Covenant	  	 •  4.00x 1L Net Leverage covenant

 
 •  Intended to cover leverage
through the New TL and the Existing Credit Agreement Debt
  

•  EBITDA to include SGx subsidiaries (even when unrestricted during implementation of
settlement)

	Amortization	  	 •  5% per annum, payable in equal installments every quarter

	Mandatory Prepayments	  	 •  No change; as set forth in the Existing Credit Agreement

	Affirmative Covenants	  	 •  As set forth in the Existing Credit Agreement, except as set forth herein.

 
 •  Commercially reasonable
efforts to obtain and maintain public ratings for the New TL from both S&P and Moody’s (but not to obtain or maintain any specific rating).
  

•  Additional confidential, professional eyes only reporting around outstanding litigation,
settlement negotiations related thereto and the Opioid Settlement Term Sheet (as defined below) and any proposed modifications thereto to First Lien Advisors (unless otherwise designated by Required Lenders), subject to review by litigation counsel
relating to privileged matters, as well as securities law concerns and similar matters.

		
	Negative Covenants	  	 •  Same Debt Incurrence, Lien Incurrence, Restricted Payment, Permitted
Investment, and any other negative covenant provisions as those proposed for the Existing Credit Agreement Debt (as defined below) in the “Credit Agreement Amendment – Illustrative Terms” section herein.

 Credit Agreement Amendment – Summary Terms 

 

			
	Applicable Loans	  	 •  Revolving Loans due 2022 (the “Revolver”), Term Loans due
2024 and Term Loans due 2025 (the “Existing Term Loans”, and collectively with the Revolver, the “Existing Credit Agreement Debt”; the lenders thereunder and under the New TL, the “First Lien
Lenders”; the credit agreement governing the Existing Credit Agreement Debt, the “Existing Credit Agreement”))

		
	Consent Fee	  	 •  50 bps payable in cash to consenting Existing Credit Agreement
Debt

		
	Pricing	  	 •  Applicable margin for each class of Existing Term Loans to be increased by 100
bps

		
	Call Protection	  	 •  101 soft call for 12 months on Existing Term Loans

		
	Amortization	  	 •  2.0% of principal amount on Effectiveness Date per annum, payable in equal
installments every quarter

		
	Cash Sweep	  	 •  50% of ECF, when 1L Net Leverage 3
1.75x
  
 •  ECF to be defined
(1) to expressly exclude ECF of SGx subsidiaries accrued while such subsidiaries are unrestricted and (2) to be reduced by all settlement payments
  

•  ECF payments shall not be deemed prepayments of prospective amortization payments

		
	Financial Covenant	  	 •  Existing Revolver 5.0x net leverage covenant to be modified upon Revolver
requisite consent to a 4.00x 1L Net Leverage covenant and apply to all Existing Credit Agreement Debt
  

•  Intended to cover leverage through the New TL and the Existing Credit Agreement Debt

 
 •  EBITDA to include SGx
subsidiaries (even when unrestricted during implementation of settlement)

		
	Affirmative Covenants	  	 •  Waiver of “going concern” or similar financial reporting
qualifications for reports delivered up until and including the fiscal quarter ended after the effective date of the plan for the SGx entities’ Chapter 11 proceeding

			
	Debt and Lien Incurrence	  	 •  Modify covenants governing debt and lien incurrence as follows:

 
 •  Incremental Debt (2.21 /
6.01(v) / 6.02(gg)): (i) $25mm plus (ii) following commencement of a chapter 11 case with respect to some or all of the Unrestricted SGx Entities, $125mm, provided that, prior to consummation of an Acceptable Opioid Settlement, the
proceeds of any debt incurred pursuant to this clause (ii) shall be used for liquidity enhancement purposes and not to prepay, refinance or exchange junior debt plus (iii) following consummation of an Acceptable Opioid Settlement,
additional amounts up to 2.25x pro forma 1L Net Leverage
  

•  General Debt / Liens (6.01(k) / 6.02(ii)): $50mm or 0.50% of CTA

 
 •  Additional provisions
applicable to Incremental Debt and General Debt / Liens baskets:
  

•  Debt and lien capacity under such baskets as set forth above are after incurrence of new TL
(i.e., baskets shall not be reduced by such incurrence)
  

•  50bps MFN for the Existing Credit Agreement Debt and the New TL upon the incurrence of any pari
debt (whether as loans or bonds) after closing of the New TL; no MFN as a result of the incurrence of the New TL
  

•  Non-Loan Party Debt / Liens (6.01(q)): $50mm or 0.5% of
CTA
  
 •  Ratio Liens
(6.02(ff)): Up to 4.0x Pro Forma Secured Net Leverage Ratio; junior liens only
  

•  Receivables Securitizations (6.01(t)): greater of $200mm or 2.0% of CTA

 
 •  Sale-Leasebacks (6.01(j)):
greater of $150mm or 1.5% of CTA
  

•  Prohibition on incurring debt senior to the Existing Credit Agreement Debt

 
 •  Prohibition on incurring debt
pari to the Existing Credit Agreement Debt (other than as otherwise permitted under baskets)

			
		  	 •  Definition of “Permitted Debt”: Delete “if such Permitted Debt is
secured” in clause (iii).
  

•  Calculation of all leverage ratios for purposes of debt/lien covenants shall include only the
EBITDA of Subsidiaries (i.e., EBITDA of Unrestricted SGx Entities excluded from calculation)
  

	Restricted Payments	  	 •  Modify covenants governing restricted payments as follows:

 
 •  General Basket (6.06(g)):
$150mm or 1.5% of CTA, subject to no Event of Default and pro forma Net Secured Leverage Ratio of no greater than 4.25x
  

•  Ratio Basket (6.06(h)): Subject to 2.75x Pro Forma Net Leverage

 
 •  Builder Basket (6.06(d)):
Eliminated
  
 •  Calculation of
all leverage ratios for purposes of RP covenant shall include only the EBITDA of Subsidiaries (i.e., EBITDA of Unrestricted SGx Entities excluded from calculation)

 

	Permitted Investments	  	 •  Modify covenants governing permitted investments as follows:

 
 •  General Basket (6.04(j)(X)):
(i) Greater of $100mm and 1.0% of CTA plus (ii) if no Event of Default and pro forma Net Secured Leverage Ratio no greater than 4.25x, greater of $100mm and 1.0% of CTA
  

•  Ratio Basket (6.04(aa)): Subject to 2.75x Pro Forma Net Leverage

 
 •  Builder Basket (6.04(j)(Y)):
Eliminated
  
 •  Investments in
non-Loan Parties (6.04(b)(iv)): (i) Greater of $100mm and 1.0% of CTA plus (ii) if no Event of Default and pro forma Net Secured Leverage Ratio no greater than 4.25x, greater of $100mm and 1.0% of CTA;
provided that, in the cases of the foregoing clauses (i) and (ii), such Investments shall be undertaken in the ordinary course of business.
  

•  Additional basket for Investments in non-Loan Parties
equal to greater of $200mm and 2.0%

			
		 	 of CTA, provided that (a) any such Investments shall (i) comprise intercompany transactions undertaken
in good faith (as certified by a responsible financial or accounting officer of the Company) for the purpose of improving the consolidated tax efficiency of the Company and not for the purpose of circumventing any other covenant and (ii) be
made solely in the form of cash, notes, receivables or securities, and (b) the entity into which such Investment was made shall become a Guarantor or its parent shall pledge that portion of such entity’s equity that was previously
unencumbered, in each case solely if and to the extent (and for so long as) the Company determines in good faith that such guarantee or pledge (A) could not reasonably be expected to result in any material tax, other cost (other than a de
minimis cost) or disruption in the Company’s operations or internal financing activities and (B) is permitted by, and could not reasonably be expected to cause directors or officers to become subject to related liabilities under,
applicable law.
  

•  Calculation of all leverage ratios under investment covenant shall include only the EBITDA of
Subsidiaries (i.e., EBITDA of Unrestricted SGx Entities excluded from calculation)
  

•  Carve-out (in covenant and definition of
“Unrestricted Subsidiary”) for unrestriction (and re-designation as Subsidiaries) of subsidiaries comprising the Specialty Generics business and parent holding companies thereof (such
subsidiaries, while designated as Unrestricted Subsidiaries, the “Unrestricted SGx Entities”) until the effective date of a chapter 11 plan that implements an Acceptable Opioid Settlement; for the avoidance of doubt, the failure to re-designate the Unrestricted SGx Entities as Subsidiaries on the Re-Restriction Date shall constitute an immediate Event of Default under the Credit Agreement.

			
	Other	  	 •  Milestones tied to implementation of Acceptable Opioid Settlement to be
agreed.
  
 •  To the extent an
Acceptable Opioid Settlement is implemented through unrestricting the SGx subsidiaries, the Unrestricted SGx Entities will be re-designated as Subsidiaries on the
Re-Restriction Date, and will become Guarantors, and re-grant liens on their assets and enter into deposit account control agreements to secure the Existing Credit
Agreement Debt and the New TL on the Re-Restriction Date (with customary grace periods and provision for mutually-agreed extensions for perfection steps other than deliveries of certificated collateral and
filing of UCC-1s).
  

•  Eliminate ability to designate Unrestricted Subsidiaries and otherwise transfer any assets to any
existing Unrestricted Subsidiary, other than (i) solely with respect to designation of Unrestricted Subsidiaries, the Unrestricted SGx Entities for the purposes of effectuating an Acceptable Opioid Settlement, (ii) no worse than
arms’-length transactions between Parent/Subsidiaries and Unrestricted Subsidiaries, which are comprised of (x) ordinary-course transactions or (y) a potential intercompany DIP loan and other transactions entered into in connection
with the unrestriction and/or chapter 11 cases of the Unrestricted SGx Entities3, (iii) designation and filing of other liability-laden Subsidiaries that the Company determines (subject to
the consent of Required Lenders if such Subsidiaries represent in the aggregate greater than 2.0% of EBITDA or 2.0% of CTA) to “clean up” as part of the settlement process4 and
(iv) de minimis basket for designations of up to $25mm in the aggregate

  

	3 	 NTD: Company to provide to First Lien Advisors intercompany data and drafts of intercompany transaction
proposals and agreements. Company and First Lien Advisors to coordinate on due diligence process reasonably satisfactory to First Lien Advisors. 

	4 	 NTD: Additional subsidiaries to be scheduled. 

			
		 	 •  Event of Default if:

 
 •  To the extent an Acceptable
Opioid Settlement is implemented through unrestricting SGx subsidiaries, any Unrestricted SGx Entity is not re-designated as a Restricted Subsidiary, does not become a Guarantor, and does not grant liens on
its assets and enter into deposit account control agreements to secure the Existing Term Loans and the New TL, in each case, on or before the Re-Restriction Date (with customary grace periods and provision for
mutually-agreed extensions for perfection steps other than deliveries of certificated collateral and filing of UCC-1s).
  

•  Prior to consummation of an Acceptable Opioid Settlement, any Loan Party or Unrestricted SGx
Entity consummates any settlement of a material portion of the Opioid Claims (as defined below) that is not an Acceptable Opioid Settlement.
  

•  Any termination of the Company’s efforts to obtain the approval of an Acceptable Opioid
Settlement, except such termination resulting from the consummation of an Acceptable Opioid Settlement and the related chapter 11 plan that implements an Acceptable Opioid Settlement; the entry of a final,
non-appealable order by the bankruptcy court in the chapter 11 cases of the Unrestricted SGx Entities (or any court having appellate jurisdiction therefrom) denying confirmation of a plan (or motion under
Bankruptcy Rule 9019, if pursued) seeking to implement an Acceptable Opioid Settlement (subject to a 120-day grace period within which to obtain an order approving or otherwise confirming a plan (or motion
under Bankruptcy Rule 9019, if applicable) implementing, an Acceptable Opioid Settlement) (the date of such termination or the expiration of such grace period, the “Settlement Termination Date”).

 
 •  The sale of all or
substantially all of the assets or stock of the Unrestricted SGx Entities taken as a whole (other than ordinary course sales of goods or inventory), the incurrence by the Unrestricted SGx Entities of debt for borrowed money or guarantees thereof
(other than intercompany DIP loans or intercompany

			
		 	 loans solely between the Unrestricted SGx Entities) or the imposition of any liens on such assets or stock securing debt
for borrowed money (other than intercompany DIP loans), in each case, in excess of $10mm, in each case, before consummation of an Acceptable Opioid Settlement.
  

•  “Acceptable Opioid Settlement” means a settlement of claims against the Company
related to opioid ligation (“Opioid Claims”) consistent with the terms set forth in the Opioid Settlement Term Sheet, provided that such settlement shall not qualify as an Acceptable Opioid Settlement if it is amended,
modified or supplemented, taken as a whole, in a manner that (i) is materially adverse to the rights or interests of the New TL lenders or the First Lien Lenders, each in their capacities as such, (ii) materially adversely affects the
Company’s ability to repay in full in cash the Existing Credit Agreement Debt and the New TL on the respective maturity date therefor or (iii) increases the aggregate amount of the cash payments set forth in the Opioid Settlement Term
Sheet scheduled to be paid before the latest maturity of the New TL and the Existing Credit Agreement Debt (provided that any additional settlement consideration consisting of debt or other monetary obligations shall (A) be unsecured,
(B) provide for no payments of cash interest or amortization before the latest maturity of the New TL and the Existing Credit Agreement Debt, and (C) otherwise be incurred under available baskets as revised herein).

 
 •  “Opioid Settlement
Term Sheet” means the summary of terms for a proposed settlement of the Opioid Claims set forth in an exhibit to the Amendment.
  

•  Prohibition on voluntarily prepaying, refinancing, or exchanging junior debt other than
(a) prepayment, refinancing or exchange of junior debt with the proceeds of, or for, equity or new debt having the same or junior priority as debt being prepaid, refinanced, or exchanged, or having junior priority to the 1L loans under the
Credit Agreement, (b) exchanges of the remaining Notes into unsecured debt or junior secured debt, in each case, subject to compliance with the other debt covenants, and an intercreditor/subordination agreement in form and

			
		 	 substance reasonably acceptable to the requisite lenders (with the existing intercreditor agreement deemed to be
acceptable to all lenders) and (c) a basket of $50mm.
  

•  “Restructuring/Settlement Transactions”, to be defined to capture the
transactions contemplated by the Opioid Settlement Term Sheet, and covenants to permit consummation thereof.

 EXHIBIT B 

FORM OF JOINDER 
 The undersigned
(“Transferee”) hereby acknowledges that it has read and understands that certain Support Agreement, dated as of February 25, 2020 (as it may be amended in accordance with its terms, the “Agreement”), by and
among Mallinckrodt International Finance S.A., Mallinckrodt CB LLC and Mallinckrodt plc, [Transferor’s Name] (“Transferor”) and the other parties thereto, and in accordance with Section 10(h) of the Agreement,
(i) agrees to be bound by the terms and conditions of the Agreement and shall be deemed a “Lender Party” under the terms of the Agreement pursuant to the terms and conditions thereof; (ii) hereby makes all representations and
warranties made therein by all other Lender Parties; and (iii) shall be deemed a Lender Party under the terms of the Agreement (as defined in the Agreement). All notices and other communications given or made pursuant to the Agreement shall be
sent to the Transferee at the address set forth below in the Transferee’s signature

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