Document:

exv10w1

Exhibit 10.1

CONSULTING AGREEMENT

     THIS CONSULTING AGREEMENT (“Agreement”) is made effective as of the 10th day of May, 2010, by
and between Arrow No. 7 Ltd., a United Kingdom corporation (“Company”) and Anthony Selwyn Tabatznik
(“Consultant”).

     1. Consultancy. Company hereby retains Consultant, and Consultant hereby accepts such
retention, commencing as of the date of this Agreement and, unless terminated earlier, continuing
until May 9, 2011.

     2. Services. Consultant shall serve as a consultant to Company and its affiliates in
the areas of research, development and licensing of pharmaceutical products, and other relevant
areas of Consultant’s expertise (the “Field”). During the term of this Agreement, Consultant shall
be available to perform services in the Field as may be requested by Company and agreed to by
Consultant.

     3. Compensation. During the term of this Agreement, Company will pay Consultant a fee
of £5,000 per month, commencing on May 10, 2010, and within the first five business days of each
month thereafter until the expiration or termination of the Agreement. Consultant shall be
responsible for payment of any income or other personal taxes due in connection with this
Agreement.

     4. Other Engagements. During the term of this Agreement, Consultant shall not engage
or participate in, or assist, advise or be connected with (whether as an owner, partner,
shareholder, consultant, director, officer or employee), any activity or business which competes
with Company or any of its affiliates, including without limitation, any business engaged in the
development, manufacture, or sale of pharmaceutical products. Consultant represents that he is not
and shall not become a party to any agreement that conflicts with Consultant’s duties hereunder.

     5. Ownership of Work Product. “Work Product” shall mean any ideas, inventions,
original works of authorship, developments, improvements, or processes, solely or jointly
conceived, developed or reduced to practice by Consultant, which arise out of, relate to or result
from the services rendered under this Agreement. Consultant hereby assigns to Company, all of
Consultant’s right, title and interest in and to any Work Product (including without limitation all
intellectual property rights associated therewith) and acknowledges and agrees that such Work
Product is the sole and exclusive property of Company. Consultant further acknowledges that all
original works of authorship defined as “Work Product” which are protectable by copyright are
“works made for hire” within the meaning of Title 17 of the United States Code. Consultant shall
make prompt full written disclosure to Company of any Work Product. Consultant shall, at Company’s
request and expense, execute documents and perform such acts as Company may deem necessary, to
confirm in Company, all right, title and interest throughout the world, in and to any Work Product,
and all patents, copyrights and other
applicable statutory protections thereon, and to enable and assist Company in procuring,
maintaining, enforcing and defending patents, copyrights and other statutory protections throughout
the world on any such Work Product. Consultant agrees to maintain adequate and current written
records (in such format as may be specified by Company) of any conception,

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development or reduction to practice of any Work Product and all such written records will be
available to and remain the sole property of Company at all times.

     6. Confidentiality. Consultant agrees that during the term of this Agreement and
thereafter, Consultant shall not disclose without the prior written consent of Company, any Company
Confidential Information. “Confidential Information” means all confidential information and/or
trade secrets relating to the business of Company or its affiliates, including without limitation,
information concerning the management, business, operations, technology, products or business plans
of Company or its affiliates. Confidential Information shall not include information that
Consultant can demonstrate (i) has become part of the public domain except by fault of Consultant,
(ii) Consultant already possessed prior to its disclosure to Consultant by Company, or (iii)
Consultant learned from a third party source having no duty of confidentiality to Company.
Consultant further agrees to keep this Agreement and its terms confidential and not to reveal its
contents to anyone.

     7. Survival and Termination. This Agreement may be terminated by either party
immediately upon written notice to the other party in the event of a material breach by the other
party in the performance of its/his obligations hereunder. Any breach by Consultant of any term of
Paragraphs 4, 5, or 6 shall be deemed a material breach hereof. Additionally, either party may
terminate this Agreement at any time by providing the other party with 30 days prior written notice
of termination. The terms and obligations of Paragraphs 5 and 6 shall survive termination of this
Agreement for any reason whatsoever.

     8. Miscellaneous.

     Consultant is an independent contractor and is not an employee or agent of Company.
Consultant shall be entitled to no benefits or compensation from Company except as set forth in
this Agreement and shall in no event be entitled to any fringe benefits payable to employees of
Company. This Agreement shall inure to the benefit of and shall be binding upon the successors and
the assigns of the parties hereto; provided that, Consultant may not assign any rights or
obligations hereunder without Company’s prior written consent (which may be withheld in Company’s
sole discretion). If any provision of this Agreement is deemed invalid, all other provisions shall
remain in full force and effect. This Agreement contains the entire agreement of the parties
concerning its subject matter and supersedes all prior discussions, negotiations, promises, and
agreements. This Agreement may be amended or modified, and any term hereof may be waived, only in
a subsequent written document signed by the parties. Any notice required or permitted to be given
hereunder shall be in writing and may be personally served or sent by mail and properly addressed,
postage paid, to the last known address of the other party hereto. This Agreement may be executed
simultaneously in any number of counterparts, each of which shall be deemed an original but all of
which together shall constitute one and the same instrument. This Agreement is entered into and
executed in London, England and shall be governed by the laws of such jurisdiction.

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written.

	 	 	 	 	 	 	 

	CONSULTANT	 	 	 	Arrow No. 7 Ltd.
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ Anthony Selwyn Tabatznik	 	 	 	By:	 	/s/ David A. Buchen
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Address:

	 	 	 	Its:	 	Director
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	7 Cavendish Square,
	 	 	 	David A. Buchen
	 	 	 	 	 
	 	 	 	 	[Printed Name]
	London W1G 0PE, United Kingdom
	 	 	 	 	 	 

3exv10w2

Exhibit 10.2

WATSON PHARMACEUTICALS, INC.,

as Issuer

and

Wells Fargo Bank, National Association,

as Trustee

SECOND SUPPLEMENTAL INDENTURE

Dated
as of May 7, 2010

to the Indenture dated as of August 24, 2009

5.000% Senior Notes due 2014

6.125% Senior Notes due 2019

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1. APPLICATION OF SUPPLEMENTAL INDENTURE
	 	 	2	 
	 
	 	 	 	 
	Section 1.01 Application of Second Supplemental Indenture
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2. DEFINITIONS
	 	 	2	 
	 
	 	 	 	 
	Section 2.01 Certain Terms Defined in the Indenture
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 3. ADDITIONAL EVENT OF DEFAULT WITH RESPECT TO THE NOTES 
	 	 	2	 
	 
	 	 	 	 
	Section 3.01 Event of Default
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 4. MISCELLANEOUS
	 	 	2	 
	 
	 	 	 	 
	Section 4.01 Conflict with Trust Indenture Act
	 	 	3	 
	Section 4.02 New York Law to Govern
	 	 	3	 
	Section 4.03 Counterparts
	 	 	3	 
	Section 4.04 Separability Clause
	 	 	3	 
	Section 4.05 Ratification
	 	 	3	 
	Section 4.06 Effectiveness
	 	 	3	 

i

 

SECOND SUPPLEMENTAL INDENTURE

     SUPPLEMENTAL
INDENTURE (this “Second Supplemental Indenture”),
dated as of May 7, 2010,
between WATSON PHARMACEUTICALS, INC., a Nevada corporation (the “Company”), and WELLS FARGO BANK,
NATIONAL ASSOCIATION, as Trustee (the “Trustee”).

RECITALS OF THE COMPANY

     WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of August
24, 2009 (the “Base Indenture,” and together with the First Supplemental Indenture (as defined
below) and this Second Supplemental Indenture, the “Indenture”), to provide for the issuance by the
Company from time to time of Securities to be issued in one or mores series as provided in the
Indenture;

     WHEREAS, the Company executed and delivered a First Supplemental Indenture , dated as of
August 24, 2009 (the “First Supplemental Indenture”) pursuant to Section 201 of the Base Indenture
to establish the form, and pursuant to Section 301 of the Base Indenture to provide for the
issuance, of a series of its senior notes designated as its 5.000% Senior Notes due August 15, 2014
(the “2014 Notes”) and a series of its senior notes designated as its 6.125% Senior Notes due
August 15, 2019 (the “2019 Notes,” and together with the 2014 Notes, the “Notes”), in an initial
aggregate principal amount of $450,000,000 in the case of the 2014 Notes and $400,000,000 in the
case of the 2019 Notes;

     WHEREAS, Section 901(3) of the Base Indenture provide that the Company and the
Trustee may enter into indentures supplemental to the Base Indenture, without the consent of any
Holders of Securities, to add any additional Events of Default for the benefit of the Holders of
all or any series of Securities (and if such additional Events of Default are to be for the benefit
of less than all series of Securities, stating that such additional Events of Default are expressly
being included solely for the benefit of such series);

     WHEREAS, Section 901(12) of the Base Indenture provides that the Company and the Trustee may
enter into indentures supplemental to the Base Indenture, without the consent of any Holders of
Securities, to conform text of the Indenture or the Securities to the applicable
description of the Securities in the prospectus or any other offering document to the extent that
such description in the prospectus or offering document was intended to be a verbatim recitation of
a provision of this Indenture or the Securities;

     WHEREAS, the Description of the Notes in the Prospectus Supplement, dated August 18, 2009,
with respect to the Notes included an Event of Default with respect to the Notes that was
inadvertently not reflected in the First Supplemental Indenture;

     WHEREAS, the Company has delivered to the Trustee an Opinion of Counsel and an Officers’
Certificate pursuant to Sections 102 and 903 of the Base Indenture to the effect that the execution
and delivery of the Second Supplemental Indenture is authorized or permitted under the Base
Indenture and that all conditions precedent provided for in the Base Indenture to the execution and
delivery of this Second Supplemental Indenture to be complied with by the Company have been
complied with;

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     WHEREAS, the Company has requested that the Trustee execute and deliver this Second
Supplemental Indenture; and

     WHEREAS, all things necessary have been done by the Company to make this Second Supplemental
Indenture, when executed and delivered by the Company, a valid and legally binding instrument.

     NOW, THEREFORE:

     In consideration of the premises stated herein, the Company and the Trustee mutually covenant
and agree for the equal and proportionate benefit of the respective Holders from time to time of
the Notes as follows:

ARTICLE 1.

APPLICATION OF SUPPLEMENTAL INDENTURE

     Section 1.01 Application of Second Supplemental Indenture. Notwithstanding any other
provision of this Second Supplemental Indenture, all provisions of this Second Supplemental
Indenture are expressly and solely for the benefit of the Holders of the Notes and any such
provisions shall not be deemed to apply to any other securities issued under the Base Indenture and
shall not be deemed to amend, modify or supplement the Base Indenture or the First Supplemental
Indenture for any purpose other than with respect to the Notes. Unless otherwise expressly
specified, references in this Second Supplemental Indenture to specific Article numbers or Section
numbers refer to Articles and Sections contained in this Second Supplemental Indenture as they
amend or supplement the Base Indenture, and not the Base Indenture, the First Supplemental
Indenture or any other document.

ARTICLE 2.

DEFINITIONS

     Section 2.01 Certain Terms Defined in the Indenture. For purposes of this Second
Supplemental Indenture, all capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Base Indenture and the First Supplemental Indenture, in each case, as
amended hereby.

ARTICLE 3.

ADDITIONAL EVENT OF DEFAULT WITH RESPECT TO THE NOTES

     Section 3.01 Event of Default. Section 501 of the Base Indenture is hereby amended,
in connection with this Second Supplemental Indenture and with respect to the Notes, by inserting
the following clause (9):

	 	(9)	 	Failure by the Company to comply with Section 3.04 of the First
Supplemental Indenture.

 

 

ARTICLE 4.

MISCELLANEOUS

     Section 4.01 Conflict with Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act
or deemed to be a part of and govern this Second Supplemental Indenture, such required or deemed
provision shall control. If any provision of this Second Supplemental Indenture modifies or
excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter
provision shall be deemed to apply to this Second Supplemental Indenture as so modified or to be
excluded, as the case may be.

     Section 4.02 New York Law to Govern. This Second Supplemental Indenture shall be
governed by and construed in accordance with the laws of the State of New York (including without
limitation Section 5-1401 of the New York General Obligations Law or any successor to such
statute). The Trustee and the Company agree to submit to the non-exclusive jurisdiction of any
United States federal or state court located in the borough of Manhattan, in the city of New York
in any action or proceeding arising out of or relating to this Second Supplemental Indenture. This
Second Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are
required to be part of the Indenture and shall, to the extent applicable, be governed by such
provisions.

     The Trustee and the Company hereby knowingly, voluntarily and intentionally waive any rights
they may have to a trial by jury in respect of any litigation based hereon, or arising out of,
under or in connection with this Second Supplemental Indenture or any course of conduct, course of
dealing, statements (whether oral or written) or actions of the Trustee or the Company relating
thereto. The Company acknowledges and agrees that it has received full and sufficient
consideration for this provision and that this provision is a material inducement for the Trustee
and the Holders entering into this Second Supplemental Indenture.

     Section 4.03 Counterparts. This Second Supplemental Indenture may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

     Section 4.04 Separability Clause. In case any provision in this Second Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

     Section 4.05 Ratification. The Base Indenture, as supplemented and amended by the
First Supplemental Indenture and this Second Supplemental Indenture, is in all respects ratified
and confirmed. The Indenture shall be read, taken and construed as one and the same instrument.
All provisions included in
this Second Supplemental Indenture supersede any conflicting provisions included in the Base
Indenture unless not permitted by law. The Trustee accepts the trusts created by the Indenture,
and agrees to perform the same upon the terms and conditions of the Indenture.

     Section 4.06 Effectiveness. The provisions of this Second Supplemental Indenture
shall become effective as of the date hereof.

[Remainder of page intentionally left blank.]

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be
duly executed as of the date first above written.

	 	 	 	 	 
	 	WATSON PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/ Paul M. Bisaro	 
	 	 	Name:  	Paul M. Bisaro	 
	 	 	Title:  	President, Chief Executive Officer	 
	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION, as Trustee

 	 
	 	By:  	/s/ Maddy Hall	 
	 	 	Name:  	Maddy Hall	 
	 	 	Title:  	Vice President

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