Document:

Guarantee

 Exhibit 4.2 
 EXECUTION VERSION 
 GUARANTEE 

(in the meaning of Article 111 of the Swiss Federal Code of Obligations, the “Guarantee”) 

dated as of 25 April 2012 
 by 
 Teva Pharmaceutical Industries Limited 

5 Basel St 
 Petach
Tivka 49131 
 Israel 
  

	1.	Being informed that Teva Pharmaceutical Finance V B.V., Schottegatweg Oost 29D, Curaçao (the “Issuer”), issued and sold 1.5 per cent. notes
(the “Notes”) in the aggregate principal amount of CHF 450,000,000 due 2018, Teva Pharmaceutical Industries Limited, 5 Basel St, Petach Tivka 49131, Israel (the “Guarantor”), herewith irrevocably and unconditionally
guarantees to the holders of the Notes (the “Noteholders”) in accordance with Article 111 of the Swiss Federal Code of Obligations (“CO”), irrespective of the validity of the Notes and the Note Purchase and
Paying Agency Agreement (the “Agreement”), and waiving all rights of objection and defence arising from the Notes and the Agreement, the due payment of the amounts payable by the Issuer under and pursuant to the Terms of the Notes
(including, without limitation, any Additional Amount). Accordingly, the Guarantor agrees to pay to BNP Paribas (Suisse) SA, 2, place de Hollande, 1204 Geneva, Switzerland, in its capacity as principal paying agent (the “Principal Paying
Agent”) in respect of the Notes, on behalf of the Noteholders, within 7 days after the receipt by the Guarantor of the Principal Paying Agent’s first written demand for payment and the Principal Paying Agent’s confirmation in
writing that an amount has become due and payable under the Notes which is equivalent to the amount claimed under the Guarantee and has remained unpaid on the due date, any amount up to 110 (one-hundred ten) per cent. of the aggregate principal
amount of the Notes outstanding from time to time, covering principal, interest to the date such payment, any Additional Amounts (if any) and any other amounts in relation to the Notes (if any) payable by the Issuer under and pursuant to the Terms
of the Notes. 

  

	2.	Upon payment by the Guarantor of any sum under the Guarantee, the Guarantor shall be subrogated to all rights of the Noteholders against the Issuer in respect of any
amounts paid to the Principal Paying Agent on behalf of the Noteholders by the Guarantor under the provisions of this Guarantee, provided, however, that the Guarantor shall not be entitled to enforce or receive any payments arising out of, or based
upon, such right of subrogation until the principal amount and interests on such Notes and Additional Amounts, if any, have been paid in full. 

  

	3.	 All payments in respect of the Notes by the Guarantor under this Guarantee to the Principal Paying Agent acting on behalf of the Noteholders shall be
made free and clear of, and without withholding or deduction for, any taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or within Curaçao,

  
 1 

 EXECUTION VERSION 

 

	 	
Switzerland or Israel, as the case may be, or any political subdivision thereof or any authority therein or thereof having power to tax, unless such withholding or deduction is required by law.

 In the event that any payments by or on behalf of the Guarantor to the Principal Paying Agent shall be made
subject to withholding or deduction for any such relevant taxes, duties, assessments or governmental charges so required by law, such additional amounts (the “Additional Amounts”) shall be payable by the Guarantor as may be
necessary in order that the net amounts received by the Principal Paying Agent on behalf of a Noteholder after such withholding or deduction shall equal the respective amounts which would otherwise have been receivable by the Principal Paying Agent
in respect of the relevant Notes in the absence of such withholding or deduction. However, no such Additional Amounts shall be payable on account of any taxes, duties or governmental charges which: 

 

	 	(i)	are payable by reason of a Noteholder having, or having had, some personal, business or other connection with Curaçao, Switzerland or Israel and not merely by
reason of the holding of the Notes; or 

  

	 	(ii)	are payable on account of any taxes or duties which are imposed on a payment to an individual and are required to be made pursuant to European Council Directive
2003/48/EC or any other directive implementing the conclusions of the ECOFIN Council meeting of 26-27 November 2000 or any law implementing or complying with, or introduced in order to conform to, such Directive or any agreement on the taxation
of savings income entered into by non-EU Member States (including Switzerland) with a view to implementing such Directive; or 

  

	 	(iii)	are payable or required to be withheld or deducted pursuant to laws enacted by Switzerland providing for the taxation of payments according to principles similar to
those set forth (i) in the Council Directive 2003/48/EC or (ii) in the draft legislation proposed by the Swiss Federal Council on 24 August 2011, in particular the principle to have a person other than the Issuer withhold or deduct
the tax, such as, without limitation, any paying agent; or 

  

	 	(iv)	are payable by reason of a change in law that becomes effective more than 30 (thirty) days after the relevant payment becomes due, or is duly provided for and notice
thereof is published in accordance with Condition 11 of the Terms of the Notes, whichever occurs later. 

  

	4.	The Guarantee constitutes a direct, unconditional and unsecured obligation of the Guarantor and ranks and will rank pari passu with all other outstanding unsecured and
unsubordinated obligations of the Guarantor, present and future. 

  

	5.	 The Guarantor shall not, and shall not permit any subsidiary to, directly or indirectly, create, incur, assume or suffer to exist any Lien, other than
a Permitted Lien, upon any of its property or assets (including any Shares or Indebtedness of any subsidiary), whether owned or leased on the date of issuance of the Notes or hereafter acquired, to secure any Indebtedness incurred by the Guarantor
or any subsidiary, without in any such case providing that all of the Notes outstanding shall be secured equally and rateably with, or prior to, such Indebtedness for so long as such Indebtedness shall be so secured and any Notes outstanding unless,
after 

  
 2 

 EXECUTION VERSION 

 

	 	
giving effect to such Lien, the aggregate amount of secured Indebtedness of the Guarantor then outstanding (excluding Indebtedness secured solely by Permitted Liens) plus the value (as defined
below) of all Sale-Leaseback Transactions then outstanding would not exceed 10% of the Guarantor’s Consolidated Net Worth. 

 For the purpose of this Section 5 the term “value” shall mean, with respect to a Sale-Leaseback Transaction, as of any particular time an amount equal to the greater of (i) the
net proceeds of sale of the property leased pursuant to such Sale-Leaseback Transaction, or (ii) the fair value of such property at the time of entering into such Sale-Leaseback Transaction as determined by the board of directors of the
Guarantor or the applicable subsidiary, in each case multiplied by a fraction of which the numerator is the number of full years of remaining term of the lease (without regard to renewal options) and the denominator is the number of full years of
the full term of the lease (without regard to renewal options). 
  

	6.	Payments under the Guarantee shall be made in Swiss francs as determined in the written demand of the Principal Paying Agent to the Guarantor. The Guarantor undertakes
to pay to the Principal Paying Agent in respect of the Notes on behalf of the Noteholders without costs to be borne by the Principal Paying Agent, without any restrictions, and whatever the circumstances may be, irrespective of nationality or
domicile of the beneficiary of such payments and without requiring any affidavit or the fulfillment of any other formality, any sums due pursuant to the Guarantee in freely disposable Swiss francs. 

The receipt by the Principal Paying Agent of funds in Swiss francs in Switzerland from the Guarantor shall release the Guarantor from its
obligations under this Guarantee to the extent of the amounts received by the Principal Paying Agent. 
 Any transfer tax, which
might possibly be imposed on the transfer of such funds to the Principal Paying Agent shall be borne by the Guarantor. 
  

	7.	The Guarantee shall give rise to a separate and independent cause of action of the Principal Paying Agent acting on behalf of the Noteholders against the Guarantor and
shall apply irrespective of any indulgence granted to the Issuer by the Principal Paying Agent or any Noteholders from time to time and shall continue in full force and effect notwithstanding any judgment or order against the Issuer and/or the
Guarantor. 

  

	8.	Notwithstanding any reference herein to the Notes and the Agreement, the Guarantor hereby acknowledges and agrees that this Guarantee and the Guarantor’s
obligations under this Guarantee shall constitute separate, independent, primary and non accessory guarantee obligations of the Guarantor within the meaning of Article 111 CO and not a mere surety within the meaning of Articles 492 et seq. CO and
will, in particular, not be affected or discharged by reason of any time or other indulgence granted by the Managers (as defined in the Terms of the Notes) or the Noteholders or the winding-up, insolvency or reorganisation of the Issuer. This
Guarantee and the Guarantor’s obligations under this Guarantee shall in particular be independent from the legal validity and enforceability of the Noteholders’ claims under the Notes and the Guarantor hereby waives all rights of objection
and defence arising from the Notes and the Agreement. 

  

	9.	The maximum amount of the Guarantee will be reduced by and to the extent of any payment received by the Principal Paying Agent on behalf of the Noteholders hereunder or
from the Issuer under the Notes. The Guarantee shall remain in full force and effect as long as any amount payable under the Notes remains unpaid. 

  
 3 

 EXECUTION VERSION 

 

	10.	The Guarantee is governed by and shall be construed in accordance with the substantive laws of Switzerland. 

 

	11.	Any dispute regarding the Guarantee shall be settled in accordance with Swiss law and falls within the exclusive jurisdiction of the ordinary courts of the Canton of
Geneva, the place of jurisdiction being Geneva, with the right of appeal to the Swiss Federal Court of Justice in Lausanne, where the law permits, whose decision shall be final. The Guarantor hereby irrevocably submits for any such action or
proceeding to the jurisdiction of the aforesaid courts. Only for that purpose and for the purpose of execution in Switzerland, the Guarantor elects legal and special domicile at the offices of BNP Paribas (Suisse) SA in Geneva, Switzerland, which
has agreed forthwith to notify the Issuer of any communication received under this Section. 

  

	12.	Terms and expressions not otherwise defined in the Guarantee shall have the same meaning as defined in the Agreement and the Terms of the Notes.

  

									
	 Teva Pharmaceutical Industries Limited
	 		 	
			
	 /s/ Eyal Desheh
	 		 	 /s/ Eran Ezra

					
	 Name:
	 	Eyal Desheh	 		 	Name:	 	Eran Ezra
					
	 Title:
	 	Chief Financial Officer	 		 	Title:	 	Treasurer

  
 4Form of Performance Long-Term Incentive Award Certificate

 Exhibit 10ci 
 FORM OF PERFORMANCE LONG-TERM INCENTIVE AWARD CERTIFICATE 
 C. R. BARD,
INC. 
 2003 LONG TERM INCENTIVE PLAN 
 Performance Long-Term Incentive Award 
 Award Certificate

  

			
	 Granted To:
	  	Grant Date:
		
	 Employee Number:
	  	 Target Number
 of
Shares:

 C. R. Bard, Inc., a New Jersey corporation (the “Corporation”) hereby grants you an award (the
“Performance Long-Term Incentive Award”) under the 2003 Long Term Incentive Plan of C. R. Bard, Inc., as amended from time-to-time (the “Plan”), pursuant to which you are eligible to earn a number of shares of common stock of the
Corporation (the “Shares”) based upon the Target Number of Shares set forth above, which may be increased or decreased in accordance with the attached Performance Long-Term Incentive Award Terms and Conditions (the “Terms and
Conditions”) and subject to the terms of the Plan, each of which is incorporated herein by reference and is a part of this Award Certificate. 
 This Award Certificate, the Plan and the attached Terms and Conditions constitute the entire agreement between the Corporation and you with respect to the subject matter hereof and supersede all prior
agreements and understandings, whether written or verbal, between the Corporation and you in connection with such subject matter. 

Please sign and return the attached copy of this Award Certificate to: Royal Olson, 730 Central Avenue, Murray Hill, New Jersey 07974.

 I acknowledge receipt of, and understand and agree to, the terms of this Performance Long-Term Incentive Award Certificate, the Plan, and
the Terms and Conditions. 
  

					
			
	 	 		 	 
	Employee Signature	 		 	Date
			
	 	 		 	
	Print Name	 		 	

  

			
	Attachments:	  	 Performance Long-Term Incentive Award Terms and Conditions
 2003 Long Term Incentive Plan
 Plan Prospectus dated February 2012

 This document constitutes part of a prospectus covering securities that have been registered under the
Securities Act of 1933. 

 FORM OF PERFORMANCE LONG-TERM INCENTIVE AWARD TERMS AND CONDITIONS 

C. R. BARD, INC. 
 2003 LONG TERM INCENTIVE PLAN 
 PERFORMANCE LONG-TERM INCENTIVE AWARD

 Terms and Conditions 
 Grant Date: [            ] 
 C. R. Bard, Inc., a New Jersey corporation (the “Corporation”) has granted you an award (the “Performance Long-Term Incentive Award”) under the 2003 Long Term Incentive Plan of C. R.
Bard, Inc., as amended from time-to-time (the “Plan”). Under the Performance Long-Term Incentive Award, you will be eligible to earn a number of shares of common stock of the Corporation (the “Shares”) based on the target number
of Shares (the “Target Number”) set forth in the Award Certificate (the “Award Certificate”) accompanying these Performance Long-Term Incentive Award Terms and Conditions (the “Terms and Conditions”) adjusted based on
the achievement of certain performance criteria, as described in Section 1 below. The Performance Long-Term Incentive Award is designated as a Performance-Based Award pursuant to Section 8(b) of the Plan. The Performance Long-Term
Incentive Award is subject to the Plan, the Award Certificate, and these Terms and Conditions. All capitalized terms not otherwise defined in these Terms and Conditions or in the Award Certificate shall have the same meaning set forth in the Plan.
The Plan is administered by the Compensation Committee (the “Committee”) of the C. R. Bard, Inc. Board of Directors (the “Board”). 
  

	1.	Earning of the Shares. 

  

	 	(a)	While you are employed by the Corporation or one of its Subsidiaries, you will be eligible to earn a number of Shares that is between [a specified range] of the Target
Number, such number of earned Shares to be determined based on the formula set forth in Section 1(b) below, on the date of the Committee’s certification of the level of achievement of the performance criteria set forth in Sections 1(c) and
1(d) (the “Certification Date”). 

  

	 	(b)	The number of Shares earned shall be based on [certain performance-based vesting criteria based on (i) average earnings per share growth, modified by relative
total shareholder return or (ii) such other criteria the Committee determines consistent with the Plan, over a period to be determined] (the “Performance Period”). Subject to the limitations set forth in Section 1(e) below, the
total number of Shares earned during the Performance Period shall be equal to: (i) the Initial Percentage (as determined in Section 1(c) below) multiplied by (ii) the Adjusted Percentage (as determined in Section 1(d) below)
multiplied by (iii) the Target Number. 

 This document constitutes part of a prospectus covering
securities that have been registered under the Securities Act of 1933. 

	 	(c)	The Initial Percentage shall be determined [based on performance-based vesting criteria based on (i) specified achievement of average earnings per share growth
during the Performance Period generally exclusive of items of an unusual or infrequent nature or (ii) such other criteria the Committee determines consistent with the Plan]. 

 

	 	(d)	The Adjusted Percentage shall be determined [based on additional performance-based criteria set by the Committee, which may include relative total shareholder return
over the Performance Period]. 

  

	 	(e)	If the [performance-based vesting criteria are not met], no Shares shall be earned. In no event will the total number of Shares earned [exceed a specified percentage]
of the Target Number. 

  

	 	(f)	If your employment with the Corporation or one of its Subsidiaries is terminated prior to the last day of the Performance Period for any reason other than death,
Disability, or Retirement, the Performance Long-Term Incentive Award shall immediately terminate and be forfeited and no Shares shall be earned. 

  

	 	(g)	Notwithstanding anything to the contrary in the Plan or these Terms and Conditions, if your employment with the Corporation or one of its Subsidiaries is terminated by
reason of death or Disability prior to the last day of the Performance Period, you shall earn a number of Shares equal to the Target Number, and no further Shares shall be earned. 

 

	 	(h)	Notwithstanding anything to the contrary in the Plan or these Terms and Conditions, upon the occurrence of a Change of Control prior to the last day of the Performance
Period, you shall earn a number of Shares equal to the Target Number, and no further Shares shall be earned. 

  

	 	(i)	Notwithstanding anything to the contrary in the Plan or these Terms and Conditions, upon your Retirement prior to the last day of the Performance Period, you shall earn
a number of Shares determined based on the formula set forth in Section 1(b) above and based on the Committee’s certification of the level of achievement of the performance criteria set forth in Sections 1(c) and 1(d) on the Certification
Date, pro rated for the period from January 1, 2012 to the date of your Retirement. On the date that Shares with respect to the Performance Long-Term Incentive Award are paid to other Participants following the Certification Date, pursuant to
Section 4(a) below, you will receive a number of Shares equal to the number of Shares earned. For purposes of these Terms and Conditions, your Retirement shall mean the date of your termination from employment with the Corporation or any of its
Subsidiaries; provided that (A) you have attained age 55 and are credited with ten (10) or more years of vesting service under the Employees’ Retirement Plan of C. R. Bard, Inc., or any successor plan thereto (the “U.S.
Retirement Plan”); or (B) you have attained age 65 and are credited with five (5) or more years of service under the U.S. Retirement Plan. For purposes of determining whether, and to what extent, you are credited with vesting service
under the preceding sentence, service provided to a foreign affiliate of the Corporation shall be treated as service provided to a U.S. participating employer in the U.S. Retirement Plan. 

 

	 	(j)	For the avoidance of doubt, except as set forth above, you must be employed by the Corporation or one of its Subsidiaries on the last day of the Performance Period in
order to be eligible to earn any Shares. 

	2.	No Right to Continued Employment. The granting, issuance or earning of the Shares pursuant to this Performance Long-Term Incentive Award, based on the Target
Number set forth in the Award Certificate and adjusted pursuant to these Terms and Conditions, shall impose no obligation on the Corporation or any affiliate to continue your employment and shall not lessen or affect the Corporation’s or any
affiliate’s right to terminate your employment. 

  

	3.	No Rights as a Stockholder. You shall not have any rights as a shareholder of the Corporation, including, but not limited to, voting rights, with respect to the
Shares until such Shares have been registered in your name in the Corporation’s register of shareholders pursuant to Section 4. 

  

	4.	Delivery of Shares. 

  

	 	(a)	For each Share that is earned in accordance with Section 1, one Share shall be registered in your name by the Corporation’s transfer agent in book entry form,
at which time, these Terms and Conditions shall terminate and no further Shares shall be earned. Within 60 days after such Shares are earned, at your request (or at the request of your legal representative, beneficiary or heir), the Corporation
shall direct the transfer agent to deliver certificates evidencing such Shares to you, or your legal representative, beneficiary or heir. 

  

	 	(b)	If the Corporation determines that any issuance or delivery of Shares to you pursuant to these Terms and Conditions will violate the requirements of any applicable
federal or state laws, rules or regulations (including, without limitation, the provisions of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended), such issuance or delivery may be postponed until the
Corporation is satisfied that the distribution will not violate such federal or state laws, rules or regulations. Any such Shares shall be subject to such stop transfer orders and other restrictions as the Committee or the Corporation may deem
necessary or advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed and any applicable federal, state or foreign laws, rules or
regulations. Certificates delivered to you may bear such legends as the Corporation may deem necessary or advisable. 

  

	5.	Transferability. You may not assign, alienate, pledge, attach, sell or otherwise transfer, dispose of or encumber Shares subject to the Performance Long-Term
Incentive Award other than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer, disposition or encumbrance shall be void and unenforceable against the Corporation or
any affiliate; provided, however, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer, disposition or encumbrance. You may designate a beneficiary, on a form supplied by the
Corporation, who may receive the Shares under these Terms and Conditions in the event of your death. No such permitted transfer of the Shares to your heirs or legatees shall be effective to bind the Corporation unless the Committee shall have been
furnished with written notice thereof and a copy of such evidence as the Committee or the Corporation may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of these Terms and Conditions.

	6.	Withholding. You may be required to pay to the Corporation or one of its Subsidiaries, and the Corporation or one of its Subsidiaries shall have the right and is
hereby authorized to withhold, any applicable amount it may determine to be necessary to withhold for federal, state, local or other taxes as a result of the grant, issuance or earning of the Shares, as a condition to such grant, issuance or
earning, or as a result of any payment or transfer under or with respect to the Shares. The Committee may take such other action as may be advisable in the opinion of the Corporation to satisfy all obligations for the payment of such withholding
taxes. You may elect to pay all or a portion of the minimum amount of taxes required to be withheld by (a) delivery of Shares or (b) having Shares withheld by the Corporation from any Shares that you would have otherwise received, such
Shares in either case having an aggregate Fair Market Value at the time of payment equal to the amount of such withholding taxes. 

  

	7.	Securities Laws. Upon the issuance, earning or delivery of any Shares, you will make or enter into such written representations, warranties and agreements as the
Corporation may reasonably request in order to comply with applicable securities laws, the Award Certificate or with these Terms and Conditions. 

  

	8.	Notices. Any notice required or permitted under these Terms and Conditions shall be deemed given when delivered personally, or when deposited in a United States
Post Office as registered mail, postage prepaid, addressed, as appropriate, either to you at your address on file at the Corporation or such other address as you may designate in writing to the Corporation, or to the Corporation, Attention:
Secretary, at 730 Central Avenue, Murray Hill, New Jersey 07974, or such other address as the Corporation may designate to you in writing. 

  

	9.	Failure to Enforce Not a Waiver. The failure of the Corporation to enforce at any time any provision of the Plan or of these Terms and Conditions shall in no way
be construed to be a waiver of such provision or of any other provision hereof. 

  

	10.	No Limitation on Rights of the Corporation. The grant of the Performance Long-Term Incentive Award shall not in any way affect the right or power of the
Corporation to make adjustments, reclassification or changes in its capital or business structure, or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. 

 

	11.	Entire Agreement. The Plan, the Award Certificate and these Terms and Conditions constitute the entire agreement between the Corporation and you with respect to
the subject matter hereof and supersede all prior agreements and understandings, whether written or verbal, between the Corporation and you in connection with such subject matter. 

 

	12.	Choice of Law. THE PLAN, THE AWARD CERTIFICATE AND THESE TERMS AND CONDITIONS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW JERSEY WITHOUT REGARD TO CONFLICTS OF LAWS. FOR PURPOSES OF LITIGATING ANY DISPUTE THAT ARISES UNDER THE AWARD CERTIFICATE OR THESE TERMS AND CONDITIONS, YOU AND THE CORPORATION AND ITS SUBSIDIARIES HEREBY SUBMIT AND CONSENT TO THE JURISDICTION
OF THE STATE OF NEW JERSEY, AND AGREE THAT SUCH LITIGATION SHALL BE CONDUCTED IN THE COURTS OF UNION COUNTY, NEW JERSEY, OR THE UNITED STATES FEDERAL COURTS FOR THE DISTRICT OF NEW JERSEY. 

	13.	Performance Long-Term Incentive Award Subject to Plan. By your receipt of these Terms and Conditions and the Award Certificate, you agree and acknowledge that
you have received and read a copy of the Plan and the related prospectus. The Performance Long-Term Incentive Award is in all respects governed by the Plan and subject to all of the terms and provisions thereof. The terms and provisions of the Plan
are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

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