Document:

Exhibit 10.2

 

* * –
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE COMMISSION.  CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

 

COMPANION ANIMAL AAHA MARKETLINK MANAGEMENT AGREEMENT

 

This
Agreement dated and effective as of March 1, 2009 is made by and between PFIZER Inc., 235 East 42nd Street, New York, New York 10017
(hereinafter, “PFIZER”) and MWI Veterinary Supply
Co., 651 S. Stratford Drive, Ste 100, Meridian,
ID 83642 (“MWI”).

 

1.                                       PFIZER hereby
agrees to supply MWI as a designated product supplier for the PFIZER companion
animal Products set forth on Exhibit A (the “Products”), to purchase from
PFIZER and to resell to certain selected Veterinary Hospitals serviced by MWI
who are members of the AAHA/MarketLink arrangement and listed in Exhibit E
hereto, subject to the following terms and conditions.

 

2.                                       MWI recognizes
and agrees to the following:

(a)                                  PFIZER has
elected to work with MWI as a designated supplier to MWI serviced hospitals at
the request of MWI. MWI agrees to work closely with PFIZER to coordinate
logistics for the supply of Products to such hospitals;

(b)                                 PFIZER intends to
sell to MWI as the logistics supplier for the hospitals. MWI understands and
agrees that PFIZER has, and may in the future, run promotions and other
activities that would be seriously prejudiced if MWI resells the Products to
distributors or veterinarians who will resell the Products as a distributor.
Incentive payments under Exhibit D hereto will only be paid by PFIZER to
MWI for Sales to the hospitals listed on Exhibit B below or such customers
who are added to Exhibit B by mutual agreement of PFIZER and MWI.

 

3.                                       MWI agrees to:

(a)                                  use its
reasonable best efforts to sell the Products by focusing its primary effort at
reselling to veterinary hospitals associated with MWI and to pet owner
pharmaceutical customers of MWI serviced hospitals;

(b)                                 store and handle
its inventory of Products under conditions that will ensure that such Products
retain their potency, purity, quality, and identity;

(c)                                  accept shipments
from PFIZER of Product at MWI 12 warehouse locations and provide all
appropriate shipment and delivery options to the accounts serviced by MWI under
this Agreement;

(d)                                 not sell the
Products to distributors, manufacturers or to veterinarians who will resell any
PFIZER Companion Animal Products outside an established
veterinary/client/patient relationship, nor shall MWI sell the Products through
brokers or non-employee agents;

(e)                                  set its resale
prices for the Products independently and at its sole discretion;

(f)                                    provide PFIZER a
projected monthly purchase schedule by the end of the second 

 

 

week
of each month;

(g)                                 cooperate fully
with PFIZER by actively participating in such strategy sessions as PFIZER
reasonably may require, for the purpose of developing programs to increase use
of the Products; and to cooperate fully with PFIZER in implementing all
promotions and Sales campaigns for the Products;

(h)                                 distribute the
Products only under the labeling provided by PFIZER; prescribe, recommend,
suggest, and advertise each Product for use only under the conditions stated in
the labeling provided by PFIZER; and observe all federal, state, and local laws
governing the distribution of animal drugs. In the case of Products bearing the
legend, “CAUTION: FEDERAL LAW RESTRICTS THIS DRUG TO USE BY OR ON THE ORDER OF
A LICENSED VETERINARIAN,” or any similar legend, sell such Products only to or
on the order of a licensed veterinarian for use in the course of his or her
professional practice or to another person or entity regularly and lawfully
engaged in the use, distribution or dispensing of such legend drugs;

(i)                                     MWI agrees that
credit limits established by PFIZER shall be subject to change by PFIZER in its
sole discretion and that no shipments will be made to MWI in excess of the
established credit limits;

(j)                                     take no action,
whether or not identified above, that would harm the goodwill or name of
PFIZER, or damage the interests of PFIZER or the Products;

(k)                                  MWI shall
immediately notify PFIZER in the event MWI obtains information indicating that
any of the Products may have to be recalled either by virtue of applicable law
or regulation or good business judgment. PFIZER shall control all efforts
necessary to conduct any such recall. MWI shall cooperate with PFIZER, at
PFIZER’s expense, and MWI agrees to maintain adequate records to conduct such
recall, including the name, address and Product purchases of all purchasers of
PFIZER Products;

(l)                                     Make payment to
PFIZER for all product purchased from PFIZER /**/;

(m)                               Provide to PFIZER
by the close of business on the last business day of each PFIZER Accounting
Period (as set forth in Exhibit F hereto) an inventory report covering all
inventory purchased from PFIZER.

(n)                                 Provide PFIZER
with a monthly accounting of Sales via EDI for purposes of allowing PFIZER
proper credit to its sale professionals and provide to Covansys by the close of
business on the last day of each PFIZER Accounting Period an inventory report
covering all Product inventory purchased from PFIZER and setting forth in
dollars at MWI’s acquisition cost from PFIZER the amount of inventory by
Product. MWI  agrees that
PFIZER shall have the right, upon reasonable advance notice and during business
hours to audit inventory in the possession of MWI to confirm compliance with
this paragraph 4(n) and to confirm the accuracy of the  data contained in the report.

(o)                                 Provide to
Covansys its Health Industry Number, Customer Health Industry Number, PFIZER
Product number, transaction date, ship to zip code, number of units and price
with respect to each sale of Product,  and unit inventories on each PFIZER Product sku
that MWI sells.

(p)                                 MWI will also
provide to PFIZER the information, services and opportunities set forth in Exhibit B
hereto. MWI represents and warrants to PFIZER that it will only provide data to
PFIZER, including 

 

 

specific
patient and animal owner information that is allowable by law.

 

4.                                       PFIZER shall:

(a)                                  sell the Products
to MWI at the prices provided for in Exhibit A. PFIZER shall have the
unrestricted right to revise the prices, terms and conditions of the Price
List, and to add or delete Products or package sizes, at anytime, and the
revisions shall be effective on all orders submitted after the effective date
of the price revisions. In all cases of orders received for other than
immediate shipment, the price for the Products shall be that in effect at the
time of shipment. Nothing herein shall prohibit PFIZER from raising or amending
prices for Products. PFIZER agrees to provide MWI /**/ notice of any price increases. PFIZER shall be
free to limit Sales of Products to MWI in advance of any price increases;

(b)                                 Compensate MWI in
accordance with Exhibit D hereto;

(c)                                  allow MWI credit
on prepaid returns in accordance with PFIZER’s Outdated Products Policy which
is in effect at the time;

 

5.                                       Nothing in this
Agreement shall be deemed to limit PFIZER’s ability to sell Products to any
other party.

 

6.                                       All purchases by
MWI pursuant to this Agreement shall be in accordance with the terms of PFIZER’s
Pricing and Shipping Policies, as may be amended by PFIZER from time to time.

 

7.                                       The following
standard conditions shall apply to all Sales under this Agreement:

(a)                                  all orders are
subject to acceptance by PFIZER’s Home Office. Title to the goods shall pass to
MWI once they have been properly delivered to the address designated by MWI.
Products requiring temperature control will be shipped F.O.B. destination;

(b)                                 any tax or other
charge upon the sale and/or shipment of the goods now or hereafter imposed by
federal, state or municipal authorities (other than PFIZER’S income taxes)
shall be paid by MWI. In the event that the price of any article includes
transportation charges, any increase or decrease in transportation charges
shall be for MWI’s account;

(c)                                  EXCEPT AS SET
FORTH IN THIS AGREEMENT, OR IN THE LABELING OF THE PRODUCTS SOLD HEREUNDER,
PFIZER MAKES NO EXPRESS OR IMPLIED WARRANTIES WITH RESPECT TO THE PRODUCTS;

(d)                                 PFIZER shall
defend, indemnify, and hold MWI harmless from all liabilities, claims, demands,
damages, costs and expenses, or money judgments incurred by MWI or rendered
against it resulting from (a) any breach by PFIZER of this Agreement, (b) third
party claims or actions for personal injury or property damage which arise out
of the distribution or sale of PFIZER products or the failure to warn, except
to the extent that such personal injury or property damage arises out of the
negligence or willful misconduct of MWI, and (c) any claim that the
Products, as sold by PFIZER, were defective, or (d) any claim that a
Product or its associated labeling or advertising prepared by PFIZER infrinqes
any patent, trademark, 

 

 

trademark,
copyright or other intellectual property riqht of any third party. PFIZER shall
assume the defense of each such claim promptly after written notice from MWI. In the event
PFIZER is found by any court of competent jurisdiction to be liable for any
claim based in products liability, then PFIZER shall reimburse MWI’s reasonable
legal fees incurred in the course of cooperating  with PFIZER’s defense. To be covered by this
defense and indemnity, MWI must: promptly notify PFIZER of any such claim;
allow PFIZER to fully control the defense and/or resolution of the claim; and
cooperate fully with PFIZER in the matter. This defense,  indemnity and payment for
legal fees shall not apply to claims alleging: MWI alteration, negligent
handling or improper storage of the Products; sale of outdated Products; sale
or recommendation of the Products for uses or in a manner not set forth in
either the labeling supplied by PFIZER or as otherwise specified by PFIZER in
writing; or sale of the Products after receipt of written notice from PFIZER
that such Sales should be halted;

(e)                                  in no event shall
either party be liable to the other for special, collateral, incidental, or
consequential damages in connection with or arising out of the purchase,
resale, or use of the Products. Except as provided under subparagraph 7(d),
above, total damages recoverable against PFIZER by MWI shall be exclusively
limited to the purchase price of the Products with respect to which damages are
claimed;

(f)                                    failure of PFIZER
to make or of MWI to take, when due, any delivery (or portion thereof) pursuant
to an order hereunder, if occasioned by any circumstance or condition beyond
the control of the party so failing, shall not subject the failing party to any
liability to the other and, at the option of either party, that order or
portion thereof not delivered may be canceled;

(g)                                 acceptance of MWI’s
order by PFIZER is expressly made conditional upon the MWI’s acceptance of the
conditions of sale as set forth herein, and the prices, terms and conditions of
the Price List then in effect, notwithstanding acknowledgment or receipt of MWI’s
purchase order containing additional or different provisions, or conflicting
oral representations by any agent of PFIZER.

(h)                                 All orders to MWI
will receive free shipping regardless of order size.

(i)                                     Payment Due Date:
/**/. Payment
Discount: /**/.

 

8.                                       This Agreement
shall not be binding upon PFIZER until it is approved by PFIZER at its New
York, New York headquarters.

 

9.                                       This Agreement
shall be effective as of the date first written above and shall continue in
force (hereinafter, the “Contract Term”) until August 31, 2009. Either
party may terminate this agreement prior to the expiration date of the Contract
Term (i) with or without cause, upon thirty (30) days written notice to
the other party, or (ii) immediately upon written notice, in the event of
a material breach by the other party. Notwithstanding the above, PFIZER may
terminate this Agreement at any time on 15 days . written notice to MWI in the
event that PFIZER determines, in its sole discretion, that MWI has failed to
comply with one or more of the terms and conditions set forth in paragraph 3
above. In addition, at its election, PFIZER may terminate this Agreement, upon
thirty (30) days written notice to MWI, in the event that MWI fails to meet the
level of Sales identified in Chart B of Exhibit D for two consecutive
months.

 

 

10.                                 MWI and PFIZER
acknowledge that in the performance of their duties hereunder MWI and PFIZER
may obtain access to “Confidential Information” (as defined below) of each
other. MWI and PFIZER agree that during the term of this Agreement and for a
period of three (3) years after the termination of this Agreement, unless
specifically permitted in writing by the other party, to (a) retain in  confidence and not disclose to
any third party and (b) use only for the purpose of carrying out their
duties hereunder, any such Confidential Information. As used herein the term “Confidential
Information” means any information, or data, whether of a business or
scientific nature and whether in written, oral or tangible form, relating to
PFIZER’s and MWI’s business or potential business or its research and
development activities, not generally available to or known to the public, and
not otherwise known to the receiving party, that is disclosed to or learned by
the other party pursuant hereto. Upon completion of the work provided for
hereunder or other termination of this Agreement each party will return to the
other party any documents, or copies thereof, or any product samples,
containing or constituting Confidential Information disclosed to or generated
by either party in connection with this Agreement.

 

11.                                 This Agreement
shall be governed by the laws of the State of New York applicable to contracts
to be fully performed therein. This Agreement is not assignable without the
express written consent of PFIZER, and may be modified or amended only in
writing signed by the party to be bound.

 

12.                                 This Agreement
and documents referred to herein embody the entire understanding between the
parties hereto, will supersede prior agreements relating to the Products, and
may be modified only in writing and signed by the parties to be bound. No
activities conducted pursuant to this Agreement or related thereto, including
but not limited to the future planning activities of the parties, shall be deemed
to give rise to any obligations on the part of either party other than as
expressly provided for herein.

 

IN
WITNESS WHEREOF, intending to be legally bound, the parties have executed this
Agreement.

 

 

	
  MWI
  VETERINARY SUPPLY CO.

  	
   

  	
  PFIZER
  INC.

  
	
   

  	
   

  	
   

  
	
  BY: 

  	
  /s/ Jim Cleary

  	
   

  	
  BY:

  	
  /s/ Clinton A.
  Lewis, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
  Clinton
  A. Lewis, Jr.

  
	
  Print Name:

  	
  Jim Cleary

  	
   

  	
   

  	
  President

  
	
   

  	
   

  	
   

  	
   

  	
  U.S.
  Operations, PFIZER Animal
  Health

  
	
  Title:

  	
  President

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  March 13, 2009

  	
   

  	
  Date:

  	
  3/24/09Exhibit 10.3

 

* * –
CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE COMMISSION.  CONFIDENTIAL TREATMENT
HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

 

2009 STRATEGIC BRANDS DISTRIBUTION AGREEMENT

 

This
Agreement dated and effective as of January 1, 2009 is made by and between
Pfizer Inc, 235 East 42nd Street, New York, NY 10017
(hereinafter, “PFIZER”) and MWI Veterinary Supply,
651 South Stratford Drive, Suite 100, Meridian, Idaho 83642 (hereinafter, “MWI”).

 

Definitions:

“Products”:
Rimadyl, Clavamox, and Simplicef

 

1.             PFIZER hereby appoints MWI,
and MWI hereby accepts appointment, as a contract distributor for PFIZER’s
Products, to purchase from PFIZER and to resell for MWI’s own account as a
distributor, subject to the following terms and conditions.

 

2.             MWI recognizes
and agrees to the following:

(a)           PFIZER has elected to work
with a select group of distributors that are committed to maximizing the sale
of the Products and to working closely with PFIZER to identify market
opportunities for both companies. The intent of this Agreement is to attain
that goal;

(b)           PFIZER intends to utilize this
group of distributors to sell the Products to veterinarians who have and
maintain a veterinary/dient/patient relationship and who prescribe products for
dogs or cats within that relationship, and that PFIZER has, and may in the
future, run promotions and other activities that would be seriously prejudiced
if MWI resells the Products to non-veterinarians, other distributors, intemet
pharmacies, human pharmacies or non-employee agents or through brokers.

 

3.             Accordingly, MWI
shall:

(a)           use its
reasonable best efforts to sell the Products by focusing its efforts at
reselling to veterinarians only. During the term of this Agreement MWI will not
sell any other product or formulation containing carprofen,
amoxicillin/clavulanic acid, or cefpodoxime proxetil other than those Products
purchased by MWI from PFIZER including but not limited to any capsule, tablet,
chewable tablet, drops or injectible carprofen, amoxicillin/clavulanic acid, or
cefpodoxime proxetil product. In the event that this Agreement is terminated
for any reason by MWI prior to December 31, 2010, MWI agrees not to sell
any other product or formulation containing carprofen, amoxicillin/clavulanic
acid, or cefpodoxime proxetil until after December 31, 2010. In the event
that this Agreement is terminated for any reason by PFIZER prior to December 31,
2010, MWI may sell any other product or formulation containing carprofen,
amoxicillin/clavulanic acid, or cefpodoxime proxetil after such termination.
Notwithstanding the foregoing, nothing in this Agreement forecloses MWI from
selling any cefpodoxime proxetil product that 

 

 

MWI
was selling on the effective date of this Agreement;

(b)           maintain a
full-time outside and inside sales force that will personally and actively
solicit sales of the Products and to pay such sales representatives reasonable
commission;

(c)           store and handle
its inventory of Products under conditions that will ensure that the Product
retains its potency, purity, quality, and identity;

(d)           cooperate fully
with PFIZER by actively participating in such strategy sessions as PFIZER
reasonably may require, for the purpose of developing programs to increase use
of the Products; and to cooperate fully with PFIZER in implementing all
promotions and sales campaigns for the Products;

(e)           allow PFIZER’s
representatives to attend and actively participate in meetings of MWI’s sales
representatives;

(f)            MWI agrees that credit
limits established by PFIZER shall be subject to change by PFIZER in its sole
discretion and that no shipments will be made to MWI in excess of the
established credit limits. MWI will make payment to PFIZER for all Products
shipped /**/;

(g)           take no action,
whether or not identified above, that would harm the goodwill of  the Products;

(h)           MWI shall
immediately notify PFIZER in the event MWI obtains information indicating that
the Products may have to be recalled either by virtue of applicable law or regulation
or good business judgment. PFIZER shall control all efforts necessary to
conduct any such recall. MWI shall cooperate with PFIZER and MWI agrees to
maintain adequate records to conduct such recall, including the name, address
and Product purchases of all purchasers of PFIZER Products;

(i)            MWI shall not,
under any circumstances, be liable for special, collateral, incidental or
consequential damages, and PFIZER’s sole remedy for any such damages shall be
in accordance with Paragraph 7(e).

 

4.             PFIZER shall:

(a)           sell the Products
to MWI at the prices in effect in the then current published PFIZER Animal
Health Ethical Distribution Price Memo (hereinafter, “Price List). PFIZER also
shall permit MWI to participate in the distributor incentive programs offered
by PFIZER, in accordance with the terms of such programs. PFIZER shall have the
unrestricted right to revise the prices, terms and conditions of the Price
List, and to add or delete Products or package sizes, without advance notice to
MWI, and the revisions shall be effective on all orders submitted after the
effective date of the price revisions. In all cases of orders received for
other than immediate shipment, the price for the Products shall be that in
effect at the time of shipment;

(b)           retain sole
responsibility for the advertising and promotion of the Products and
collaborate with MWI in the development of activities appropriate for ethical
distribution regarding the Products;

(c)           compensate MWI in
accordance with Exhibits A and B attached hereto. PFIZER shall have the right
to audit MWI sales data to confirm appropriate payment in accordance with
Exhibits A 

 

2

 

and
B;

(d)           allow MWI credit
on prepaid returns in accordance with PFIZER’s Outdated Products Policy which
is in effect at the time;

(e)           If MWI has more
than one location then MWI must combine purchases of all locations to determine
attainment level for incentives. In the event that MWI acquires or combines
with another PFIZER agreement holder, the purchase objectives will be adjusted
accordingly for the purpose of determining incentives earned;

(f)            Direct purchase
from PFIZER will be used to determine the level of purchases achieved. Any
discrepancies must be documented by the Marketing Agreement holder using copies
of PFIZER invoices.

 

5.             Nothing in this
Agreement shall be deemed to limit PFIZER’s ability to sell Products to any
other party.

 

6.             All purchases by
MWI pursuant to this Agreement shall be in accordance with the terms of PFIZER’s
Pricing and Shipping Policies, as may be amended by PFIZER from time to time.
Unless the parties agree otherwise, shipments shall be made to either MWI’s
central warehouse point or to branch offices at MWI’s direction.

 

7.             The following
standard conditions shall apply to all sales under this Agreement:

(a)           MWI shall
cooperate fully with PFIZER in participating fully in the Animal Health
Institute Electronic Data Interchange (hereinafter, “AHI EDI”) for the
reporting of sales and inventory data on a daily basis. The data to be reported
shall be as described in the AHI EDI Transaction sets.

(b)           all orders are
subject to acceptance by PFIZER. Title to the goods shall pass to MWI once they
have been properly delivered to the address designated by MWI.

(c)           any tax or other
charge upon the sale and/or shipment of the goods now or hereafter imposed by
federal, state or municipal authorities shall be paid by MWI. In the event that
the price of any article includes transportation charges, any increase or
decrease in transportation charges shall be for MWI’s account;

(d)           EXCEPT AS SET
FORTH IN THIS AGREEMENT, OR IN THE LABELING OF THE PRODUCTS SOLD HEREUNDER,
PFIZER MAKES NO EXPRESS OR IMPLIED WARRANTIES WITH RESPECT TO THE PRODUCTS;

(e)           PFIZER shall
defend and indemnify MWI from all claims resulting from any breach by PFIZER of
the warranties set forth in this paragraph 7 and specifically any claim that
the Products, as sold by PFIZER, were defective. In the event PFIZER is found
by any court of competent jurisdiction to be liable for any claim based in
products liability, then PFIZER shall reimburse MWI’s

reasonable
legal fees incurred in the course of cooperating with PFIZER’s defense. To be
covered by this defense and indemnity, MWI must: promptly notify PFIZER of any
such claim; allow 

 

3

 

PFIZER
to fully control the defense and/or resolution of the claim; and cooperate
fully with PFIZER in the matter. This  defense, indemnity and payment for legal fees
shall not apply to claims alleging: MWI alteration, negligent handling or
improper storage of the Products; sale of outdated Products; sale or
recommendation of the Products for uses or in a manner not set forth in the
labeling supplied by PFIZER; or sale of the Products after receipt of notice
from PFIZER that such sales should be halted;

(f)            in no event shall
PFIZER be liable to MWI for special, collateral, incidental, or consequential
damages in connection with or arising out of the purchase, resale, or use of
the Products. Except as provided under subparagraph 7(e), above, total damages
recoverable against PFIZER by MWI shall be exclusively limited to the purchase
price of the Products with respect to which damages are claimed;

(g)           failure of PFIZER
to make or of MWI to take, when due, any delivery (or portion thereof) pursuant
to an order hereunder, if occasioned by any circumstance or condition beyond
the control of the party so failing, shall not subject the failing party to any
liability to the other and, at the option of either party, that order or
portion thereof not delivered may be canceled;

(h)           acceptance of MWI’s
order by PFIZER is expressly made conditional upon MWI’s acceptance of the
conditions of sale as set forth herein, and the prices, terms and conditions of
the Price List then in effect, notwithstanding acknowledgment or receipt of MWI’s
purchase order containing additional or different provisions, or conflicting
oral representations by any agent of PFIZER;

(i)            in no event shall
MWI be liable to PFIZER for special, collateral, incidental, or consequential
damages in connection with or arising out of the purchase, resale, or use of
the Products.

 

8.             MWI shall not
delegate its duty of performance or assign its obligations under this Agreement
without the prior written consent of PFIZER.

 

9.             This Agreement
shall not be binding upon PFIZER until it is approved by PFIZER at its New
York, New York headquarters.

 

10.           This Agreement
shall be effective as of the date first written above and shall continue in
force until December 31, 2010 (hereinafter, “Contract Term”). For the
purpose of calculating the year end rebates set forth in Exhibit A and the
Custom Marketing Program funds set forth in Exhibit B, the Contract Term
will be divided into two one-year terms as follows: January 1, 2009 to December 31,
2009 (hereinafter, “Contract Year 2009”) and January 1, 2010 to December 31,
2010 (hereinafter, “Contract Year 2010”). PFIZER may terminate this agreement
prior to the expiration date with or without cause, upon thirty (30) days
written notice to MWI. Either party may terminate this Agreement immediately
upon written notice, in the event of a material breach by the other party. Upon
any termination of this Agreement for any reason prior to the expiration date
PFIZER shall have the right to buy back from MWI all inventory of the Products
owned by MWI at the time of termination at a price equal to MW’s purchase price
from PFIZER of such inventory.

 

4

 

11.           MWI and PFIZER agree
that, under the specific circumstances delineated herein, PFIZER, at PFIZER’s
sole discretion may recoup the sums outstanding to it from MWI against those
sums which may become due from PFIZER to MW, in that the obligations arise from
mutual transactions.

 

A.            The specific
circumstances which will enable PFIZER to initiate recoupment are:

i.              MWI becomes
insolvent which shall be defined as:

(a)   the sum of MWI’s
debts is greater than all of MW’s property  (“Balance Sheet Test”); or

(b)   MWI is generally
not paying its debts as they come due; or

(c)   MWI has failed to
act in good faith for a period in excess of six (6) months to resolve any
outstanding invoice or purchase order issues  or reconciliations.

ii.             MWI commences a liquidation of
its operations by means of a sale of its  assets in their entirety or piecemeal.

iii.            MWI ceases its business
operations whether or not such cessation is  voluntary or involuntary.

iv.            MWI files a
proceeding pursuant to the U.S. Bankruptcy Code or any state court proceeding,
including an Assignment for the Benefit of Creditors.

 

12.           MWI and PFIZER
acknowledge that in the performance of their duties hereunder MWI and PFIZER
may obtain access to “Confidential Information” (as defined below) of each
other. MWI and PFIZER agree that during the term of this Agreement and for a
period of three (3) years after the termination of this Agreement, unless
specifically permitted in writing by the other party, to (a) retain in
confidence and not disclose to any third party and (b) use only for the
purpose of carrying out their duties hereunder, any such Confidential
Information. As used herein the term “Confidential Information” means any
information, or data, whether of a business or scientific nature and whether in
written, oral or tangible form, relating to PFIZER’s and MW’s business or
potential business or its research and development activities, not generally
available to or known to the public, and not otherwise known to the receiving
party, that is disclosed to or learned by the other party pursuant hereto. Upon
completion of the work provided for hereunder or other termination of this
Agreement each party will return to the other party any documents, or copies
thereof, or any product samples, containing or constituting Confidential Information
disclosed to or generated by either party in connection with this Agreement.

 

13.           This Agreement
shall be governed by the laws of the State of New York applicable to contracts
to be fully performed therein.

 

5

 

14.           This Agreement
and documents referred to herein embody the entire understanding between the
parties hereto, will supersede prior agreements relating to the Products, and
may be modified only in writing and signed by the parties to be bound. No
activities conducted pursuant to this Agreement or related thereto, including
but not limited to the future planning activities of the parties, shall be
deemed to give rise to any obligations on the part of either party other than
as expressly provided for herein.

 

IN
WITNESS WHEREOF, intending to be legally bound, the parties have executed this
Agreement.

 

	
  MWI
  Veterinary Supply

  	
   

  	
  Pfizer
  Inc.

  
	
   

  	
   

  	
   

  
	
  BY: 

  	
  /s/ Jim Cleary

  	
   

  	
  BY: 

  	
  /s/ Clinton Lewis

  
	
   

  	
   

  	
   

  	
  Clinton Lewis

  
	
  Print Name: 

  	
  Jim Cleary

  	
   

  	
   

  	
  President,
  U.S. Operations

  
	
   

  	
   

  	
   

  	
  Pfizer
  Animal Health

  
	
  Title:  

  	
  President

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date: 

  	
  Jan. 26, 2009

  	
   

  	
  Date: 

  	
  2/5/09

  
									

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]