Document:

Second Supplemental Indenture

 Exhibit 10.3 
 Execution Copy 
 SECOND SUPPLEMENTAL INDENTURE 

SECOND SUPPLEMENTAL INDENTURE, dated as of February 13, 2012 (the “Second Supplemental Indenture”), by and among
Valeant Pharmaceuticals International, a Delaware corporation (the “Company”), Valeant Holdco 2 Pty Ltd., (ACN 154 341 367) (“Valeant Holdco”), Wirra Holdings Pty Limited, (ACN 122 216 577) (“Wirra
Holdings”), Wirra Operations Pty Limited, (ACN 122 250 088) (“Wirra Operations”), iNova Pharmaceuticals (Australia) Pty Ltd., (ACN 000 222 408) (“iNova Pharmaceuticals”), iNova Sub Pty Ltd., (ACN 134 398
815)(“iNova Sub”) and Wirra IP Pty Ltd., (ACN 122 536 350) (“Wirra IP” and, together with Valeant Holdco, Wirra Holdings, Wirra Operations, iNova Pharmaceuticals and iNova Sub, the “New
Guarantors”), and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee (the “Trustee”). 
 WHEREAS, each of the Company, Valeant Pharmaceuticals International, Inc. (“Parent”), the indirect parent of the Company, and the Subsidiary Guarantors (as defined in the Indenture
referred to below) has heretofore executed and delivered to the Trustee an Indenture, dated as of March 8, 2011 (the “Indenture”), providing for the issuance of 6.50% Senior Notes due 2016 and 7.25% Senior Notes due 2022
(collectively, the “Securities”); 
 WHEREAS, each New Guarantor desires to provide a full and unconditional
senior guarantee (the “Guarantee”) of the obligations of the Company under the Securities and the Indenture on the terms and conditions set forth herein; 
 WHEREAS, pursuant to Section 9.1 of the Indenture, the Company, the Trustee and the New Guarantors are authorized to execute and deliver this Second Supplemental Indenture; and 

WHEREAS, the Company has complied with all conditions precedent provided for in the Indenture relating to the Second Supplemental
Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 
 1. Definitions. Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Indenture. 
 2. Guarantee. Each of the New Guarantors hereby agrees to provide a full and unconditional guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture
including, but not limited to, Article 10 thereof. 
 3. Effectiveness of Second Supplemental Indenture. This Second
Supplemental Indenture shall become effective upon the execution and delivery of this Second Supplemental Indenture by the Company, each New Guarantor and the Trustee. 

  
 1 

 4. Indenture Remains in Full Force and Effect. This Second Supplemental Indenture
shall form a part of the Indenture for all purposes and, except as supplemented or amended hereby, all other provisions in the Indenture and the Securities, to the extent not inconsistent with the terms and provisions of this Second Supplemental
Indenture, shall remain in full force and effect. 
 5. No Recourse Against Others. No stockholder, officer, director or
incorporator, as such, past, present or future of any New Guarantor shall have any personal liability under this Guarantee, the Securities, the Indenture or this Second Supplemental Indenture by reason of his, her or its status as such stockholder,
officer, director or incorporator. 
 6. Headings. The headings of the Articles and Sections of this Second Supplemental
Indenture are inserted for convenience of reference and shall not be deemed a part thereof. 
 7. 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. 

8. Governing Law. This Second Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State
of New York, without regard to principles of conflicts of laws. 
 9. Agent for Service. Each New Guarantor hereby
appoints CT Corporation as its authorized agent upon whom process may be served in any suit or proceeding arising out of or relating to the Indenture, the Securities or this Second Supplemental Indenture that may be instituted in any federal or
state court in the State of New York or brought under federal or state securities laws. 
 10. Trustee Disclaimer. The
Trustee is not responsible for the validity or sufficiency of this Second Supplemental Indenture nor for the recitals herein. 

[Intentionally Left Blank] 

  
 2 

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

					
	VALEANT PHARMACEUTICALS INTERNATIONAL
		
	By:	 	 /s/ Rajiv De Silva

		 	Name:	 	Rajiv De Silva
		 	Title:	 	President and Chief Operating Officer

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	Signed by	 		 	
	 Valeant Holdco 2 Pty Ltd
 in accordance with section 127 of the 
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Rajiv De Silva
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Rajiv De Silva
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	Signed by	 		 	
	 Wirra Holdings Pty Limited
 in accordance with section 127 of the
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	Signed by	 		 	
	 Wirra Operations Pty Limited
 in accordance with section 127 of the 
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	Signed by	 		 	
	 iNova Pharmaceuticals (Australia) Pty Ltd.
 in accordance with section 127 of the 
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	Signed by	 		 	
	 iNova Sub Pty Ltd.

in accordance with section 127 of the 

Corporations Act 2001 by a director and

secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	Signed by	 		 	
	 Wirra IP Pty Ltd.
 in
accordance with section 127 of the 
 Corporations Act 2001 by a director and

secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)] 

					
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. as Trustee
		
	By:	 	 /s/ Alex Briffett

		 	Name:	 	John A. (Alex) Briffett
		 	Title:	 	Authorized Signatory

  
 [Signature
Page to Second Supplemental Indenture (March Indenture)]Second Supplemental Indenture

 Exhibit 10.4 
 Execution Copy 
 SECOND SUPPLEMENTAL INDENTURE 

SECOND SUPPLEMENTAL INDENTURE, dated as of February 13, 2012 (the “Second Supplemental Indenture”), by and among
Valeant Pharmaceuticals International, a Delaware corporation (the “Company”), Valeant Holdco 2 Pty Ltd., (ACN 154 341 367) (“Valeant Holdco”), Wirra Holdings Pty Limited, (ACN 122 216 577) (“Wirra
Holdings”), Wirra Operations Pty Limited, (ACN 122 250 088) (“Wirra Operations”), iNova Pharmaceuticals (Australia) Pty Ltd., (ACN 000 222 408) (“iNova Pharmaceuticals”), iNova Sub Pty Ltd., (ACN 134 398
815)(“iNova Sub”) and Wirra IP Pty Ltd., (ACN 122 536 350) (“Wirra IP” and, together with Valeant Holdco, Wirra Holdings, Wirra Operations, iNova Pharmaceuticals and iNova Sub, the “New
Guarantors”), and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee (the “Trustee”). 
 WHEREAS, each of the Company, Valeant Pharmaceuticals International, Inc. (“Parent”), the indirect parent of the Company, and the Subsidiary Guarantors (as defined in the Indenture
referred to below) has heretofore executed and delivered to the Trustee an Indenture, dated as of February 8, 2011 (the “Indenture”), providing for the issuance of 6.75% Senior Notes due 2021 (the
“Securities”); 
 WHEREAS, each New Guarantor desires to provide a full and unconditional senior guarantee (the
“Guarantee”) of the obligations of the Company under the Securities and the Indenture on the terms and conditions set forth herein; 
 WHEREAS, pursuant to Section 9.1 of the Indenture, the Company, the Trustee and the New Guarantors are authorized to execute and deliver this Second Supplemental Indenture; and 

WHEREAS, the Company has complied with all conditions precedent provided for in the Indenture relating to the Second Supplemental
Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereto mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 
 1. Definitions. Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Indenture. 
 2. Guarantee. Each of the New Guarantors hereby agrees to provide a full and unconditional guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture
including, but not limited to, Article 10 thereof. 
 3. Effectiveness of Second Supplemental Indenture. This Second
Supplemental Indenture shall become effective upon the execution and delivery of this Second Supplemental Indenture by the Company, each New Guarantor and the Trustee. 

  
 1 

 4. Indenture Remains in Full Force and Effect. This Second Supplemental Indenture
shall form a part of the Indenture for all purposes and, except as supplemented or amended hereby, all other provisions in the Indenture and the Securities, to the extent not inconsistent with the terms and provisions of this Second Supplemental
Indenture, shall remain in full force and effect. 
 5. No Recourse Against Others. No stockholder, officer, director or
incorporator, as such, past, present or future of any New Guarantor shall have any personal liability under this Guarantee, the Securities, the Indenture or this Second Supplemental Indenture by reason of his, her or its status as such stockholder,
officer, director or incorporator. 
 6. Headings. The headings of the Articles and Sections of this Second Supplemental
Indenture are inserted for convenience of reference and shall not be deemed a part thereof. 
 7. 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. 

8. Governing Law. This Second Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State
of New York, without regard to principles of conflicts of laws. 
 9. Agent for Service. Each New Guarantor hereby
appoints CT Corporation as its authorized agent upon whom process may be served in any suit or proceeding arising out of or relating to the Indenture, the Securities or this Second Supplemental Indenture that may be instituted in any federal or
state court in the State of New York or brought under federal or state securities laws. 
 10. Trustee Disclaimer. The
Trustee is not responsible for the validity or sufficiency of this Second Supplemental Indenture nor for the recitals herein. 

[Intentionally Left Blank] 

  
 2 

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

					
	VALEANT PHARMACEUTICALS INTERNATIONAL
		
	By:	 	 /s/ Rajiv De Silva

		 	Name:	 	Rajiv De Silva
		 	Title:	 	President and Chief Operating Officer

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	Signed by	 		 	
	 Valeant Holdco 2 Pty Ltd
 in accordance with section 127 of the 
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Rajiv De Silva
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Rajiv De Silva
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	Signed by	 		 	
	 Wirra Holdings Pty Limited
 in accordance with section 127 of the
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	Signed by	 		 	
	 Wirra Operations Pty Limited
 in accordance with section 127 of the 
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	Signed by	 		 	
	 iNova Pharmaceuticals (Australia) Pty Ltd.
 in accordance with section 127 of the
 Corporations Act 2001 by a director
and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	Signed by	 		 	
	 iNova Sub Pty Ltd.

in accordance with section 127 of the 

Corporations Act 2001 by a director and

secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	Signed by	 		 	
	 Wirra IP Pty Ltd.
 in
accordance with section 127 of the
 Corporations Act 2001 by a director and
 secretary/director:
	 		 	
			
	 /s/ Howard B. Schiller
	 		 	 /s/ Robert R. Chai-Onn

	Signature of director	 		 	Signature of director/secretary
			
	 Howard B. Schiller
	 		 	 Robert R. Chai-Onn

	Name of director (please print)	 		 	Name of director/secretary (please print)

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)] 

					
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. as Trustee
		
	By:	 	 /s/ Alex Briffett

		 	Name:	 	John A. (Alex) Briffett
		 	Title:	 	Authorized Signatory

  
 [Signature
Page to Second Supplemental Indenture (February Indenture)]

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