Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 2 
 TO

 FIRST AMENDED AND RESTATED 

AGREEMENT OF LIMITED PARTNERSHIP 

OF 
 EMPIRE STATE REALTY
OP, L.P. 
 December 6, 2019 

 THIS AMENDMENT NO. 2 (this “Amendment”) to the FIRST AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP of EMPIRE STATE REALTY OP, L.P. is made and entered into as of December 6, 2019. 
 W I T N E S S E
T H: 
 WHEREAS, Empire State Realty OP, L.P. (the “Partnership”), a Delaware limited partnership, exists
pursuant to that certain First Amended and Restated Agreement of Limited Partnership dated as of October 1, 2013, as amended by Amendment No. 1 to the First Amended and Restated Agreement of Limited Partnership dated as of August 26,
2014 (as so amended, the “Partnership Agreement”), and the Delaware Revised Uniform Limited Partnership Act; 

WHEREAS, Empire State Realty Trust, Inc., a Maryland corporation, is the sole general partner in the Partnership (the
“Company”); 
 WHEREAS, Section 4.03(a) of the Partnership Agreement provides that: (i) the General
Partner is authorized to cause the Partnership to issue additional Partnership Interests, in the form of Partnership Units, for any Partnership purpose, at any time or from time to time, to the Partners or to other Persons, for such consideration
and on such terms and conditions as shall be established by the General Partner in its sole and absolute discretion, all without the approval of any Limited Partners; (ii) without limiting the foregoing, the General Partner is expressly
authorized to cause the Partnership to issue Partnership Units in exchange for any Partnership Units and for less than fair market value, so long as the General Partner concludes in good faith that such issuance is in the best interests of the
General Partner and the Partnership; (iii) subject to Delaware law, any additional Partnership Interests may be issued in one or more classes, or one or more series of any of such classes, with such designations, preferences and relative,
participating, optional or other special rights, powers and duties as shall be determined by the General Partner, in its sole and absolute discretion without the approval of any Limited Partner, and set forth in a written document thereafter
attached to and made an exhibit to the Partnership Agreement (a “Partnership Unit Designation”); (iv) without limiting the generality of the foregoing, the General Partner shall have authority to specify (A) the allocations of
items of Partnership income, gain, loss, deduction and credit to each such class or series of Partnership Interests; (B) the right of each such class or series of Partnership Interests to share (on a pari passu, junior or preferred
basis) in Partnership distributions; (C) the rights of each such class or series of Partnership Interests upon dissolution and liquidation of the Partnership; (D) the voting rights, if any, of each such class or series of Partnership
Interests; and (E) the conversion, redemption or exchange rights applicable to each such class or series of Partnership Interests; and (v) upon the issuance of any additional Partnership Interest, the General Partner shall cause such
issuance to be reflected in the books and records of the Partnership or the Transfer Agent, as appropriate. 
 WHEREAS, pursuant to
Sections 7.03(c)(v) and (viii) of the Partnership Agreement, the Partnership Agreement may be amended by the General Partner without the consent of the Limited Partners to set forth the designations, preferences or other rights, voting powers,
restrictions, limitations as to distributions, qualifications or terms or conditions of redemption of the holders of any additional Partnership Units and to issue additional Partnership Interests in accordance with Section 4.03, provided that
the General Partner is required to provide notice to the Limited Partners when any such action is taken; 

  
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 WHEREAS, the General Partner desires to establish a new series of Preferred Units
which shall be referred to as “Series 2019 Private Perpetual Preferred Units” and, pursuant to and in accordance with Section 14.02 of the Partnership Agreement, hereby amends the Partnership Agreement for the purpose of
setting forth the rights and preferences of the Series 2019 Private Perpetual Preferred Units; 
 WHEREAS, in connection with
establishing the Series 2019 Private Perpetual Preferred Units, the General Partner desires to re-designate the Partnership’s existing Private Perpetual Preferred Units, issued on August 26, 2014, as
“Series 2014 Private Perpetual Preferred Units” and amend certain defined terms in the Partnership Agreement accordingly; and 

WHEREAS, pursuant to and in accordance with Section 4.03 of the Partnership Agreement, the General Partner is causing the
Partnership to issue Series 2019 Private Perpetual Preferred Units to certain Limited Partners in exchange for OP Units pursuant to an offer dated September 4, 2019 (the “Offer”). 

NOW, THEREFORE, the General Partner has set forth in this Amendment and in the related Partnership Unit Designation to be attached to
and made Exhibit F to the Partnership Agreement the preferences and other rights, voting powers, restrictions, limitations as to payments, qualifications and terms and conditions of redemption of the Series 2019 Private
Perpetual Preferred Units. 
 SECTION 1. DEFINED TERMS 

Capitalized terms used but not defined in this Amendment shall have the definitions assigned to such terms in the Partnership Agreement, but if
the same term is defined both in this Amendment and in the Partnership Agreement, the definition in this Amendment shall supersede and replace in its entirety the definition set forth in the Partnership Agreement for all purposes. The following
defined terms used in this Amendment shall have the meanings specified below: 
 “Available Cash” means, with respect to
any period for which such calculation is being made, the amount of cash available for distribution by the Partnership as determined by the General Partner in its sole and absolute discretion after giving effect to all payments required to be made to
holders of Series 2014 Private Perpetual Preferred Units and Series 2019 Private Perpetual Preferred Units. 
 “Series 2014 Private
Perpetual Preferred Unit” means a fractional share of the Partnership Interests that is designated as a Series 2014 Private Perpetual Preferred Unit and issued pursuant to Section 4.03(a) hereof. 

“Series 2019 Private Perpetual Preferred Unit” means a fractional share of the Partnership Interests that is designated as a
Series 2019 Private Perpetual Preferred Unit and issued pursuant to Section 4.03(a) hereof. 
 “Partnership Interest”
means an ownership interest in the Partnership of either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all
obligations of such Person to comply with the terms and provisions of this Agreement. There may be one or more 

  
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classes or series of Partnership Interests. A Partnership Interest may be expressed as a number of OP Units, LTIP Units, Series 2014 Private Perpetual Preferred Units, Series 2019 Private
Perpetual Preferred Units Preferred Units, Junior Units or other Partnership Units. 
 SECTION 2. RE-DESIGNATION OF PRIVATE PERPETUAL PREFERRED UNITS. 
 The series of Preferred Units designated as
“Private Perpetual Preferred Units” shall be re-designated as “Series 2014 Private Perpetual Preferred Units,” and the Partnership Agreement is hereby amended by replacing all references to
“Private Perpetual Preferred Units” with references to “Series 2014 Private Perpetual Preferred Units;” and the Partnership Agreement is hereby further amended to replace the following defined terms and all references to such
defined terms accordingly: “Quarterly Preference Payments” is replaced by “Series 2014 Quarterly Preference Payments;” “Quarterly Payment Date” is replaced by “Series 2014 Quarterly Payment Date;”
“Payment Period” is replaced by “Series 2014 Payment Period;” “Private Perpetual Preferred Unit Liquidation Preference” is replaced by “Series 2014 Private Perpetual Preferred Unit Liquidation Preference;”
“Perpetual Preferred Redemption Right” is replaced by “Series 2014 Perpetual Preferred Redemption Right;” “Perpetual Preferred Redemption Amount” is replaced by “Series 2014 Perpetual Preferred Redemption
Amount;”. 
 SECTION 3. TERMS OF SERIES 2019 PRIVATE PERPETUAL PREFERRED UNITS. 

 

	 	(a)	 In making distributions pursuant to Article V of the Partnership Agreement and allocations pursuant to Article
VI of the Partnership Agreement, the General Partner shall take into account the provisions of Exhibit F hereto. 

  

	 	(b)	 The exchange of OP Units for Series 2019 Private Perpetual Preferred Units pursuant to the Offer (the
“Exchange”) is intended to be a tax-deferred transaction for U.S. federal income tax purposes consistent with the conclusions in Revenue Ruling 84-52, 1984-1 CB 157 and Revenue Ruling 95-37, 1995-1 CB 130 and subject to any change in the Partners’ share of Partnership liabilities
as described therein. The Capital Account balances of the Limited Partners attributable to the Series 2019 Private Perpetual Preferred Units shall be adjusted to equal the liquidation preference of $13.52 per unit. In connection with the Exchange,
the General Partner also shall adjust the Capital Accounts of all Partners to reflect the fair market value of the Partnership’s assets as of the effective date of the Exchange. 

SECTION 4. ARTICLE VI AND XIII AMENDMENTS. 

(a)    Article VI of the Partnership Agreement shall be amended by adding the following new Section 6.03(h): 

“Notwithstanding the provisions of Section 6.02 of the Partnership Agreement, Net Operating Income (but not Net Income) for a
Partnership Year or other applicable period shall first be allocated to the holders of Series 2019 Private Perpetual Preferred Units until each such Series 2019 Private Perpetual Preferred Unit has been allocated, on a cumulative basis pursuant to
this Section 6.03(h), Net 

  
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Operating Income equal to the amount of accrued Series 2019 Quarterly Preference Payments which are attributable to such Series 2019 Private Perpetual Preferred Units (and pro rata in proportion
to the respective Series 2019 Private Perpetual Preferred Units as of the last day of the period for which such allocation is made). For this purpose, “Net Operating Income” means all of the items of income, gain, deduction and loss that
are otherwise included in the determination of Net Income or Net Loss of the Partnership absent this Section 6.03(h), but calculated without regard to any (i) Depreciation (including, for the avoidance of doubt, any federal income tax
depreciation, amortization or other cost recovery deduction to the extent such amounts differ from the amount of Depreciation) or (ii) gains or losses described in subsection (c) of the definition of “Net Income” or “Net
Loss” realized in connection with the an adjustment to the Gross Asset Value of any Partnership assets under subsections (b) or (c) of the definition of “Gross Asset Value”. For the avoidance of doubt, pursuant to clause
(g) of the definition of “Net Income” or “Net Loss”, Net Income and Net Loss that is allocated to Partners following the allocation of Net Operating Income pursuant to this Section 6.03(h) will be determined without
taking into account any Net Operating Income allocated pursuant to this Section 6.03(h).” 
  

	 	(b)	 Article XIII of the Partnership Agreement shall be amended by adding the following new
Section 13.02(a)(v): 

 “Fifth, to the holders of Series 2019 Private Perpetual Preferred Units, the Series 2019
Private Perpetual Preferred Unit Liquidation Preference, in accordance with the terms of Section 4 of Exhibit F after giving effect to all allocations for all prior periods,”  

 

	 	(c)	 Article XIII of the Partnership Agreement shall be amended by
re-designating the existing Section 13.02(a)(v) as Section 13.02(a)(vi) and by adding at the end of such section: 

“and after giving effect to the distributions pursuant to Sections 13.02(a)(iv) and (v) (provided, for the avoidance of doubt, that
distributions pursuant to Sections 13.02(a)(iv) on account of unpaid Quarterly Preference Payments shall not reduce the Partners’ Capital Accounts)” 

  
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 SECTION 5. NEW EXHIBIT F. 

The Partnership Agreement is hereby supplemented by adding after Exhibit E thereof a new Exhibit F as follows: 

EXHIBIT F 

EMPIRE STATE REALTY OP, L.P. 

PARTNERSHIP UNIT DESIGNATION 

ESTABLISHING AND FIXING THE RIGHTS, LIMITATIONS AND 

PREFERENCES OF A SERIES OF PREFERRED UNITS 

Reference is made to the First Amended and Restated Agreement of Limited Partnership, as amended by Amendment No. 1 to the First Amended
and Restated Agreement of Limited Partnership (as so amended, the “Partnership Agreement”), of Empire State Realty OP, L.P., a Delaware limited partnership (the “Partnership”), of which this Partnership Unit Designation shall
become a part. Capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the main part of the Partnership Agreement. Section references are (unless otherwise specified) references to sections in this
Partnership Unit Designation. 
 The General Partner has set forth in this Partnership Unit Designation the following description of the
preferences and other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption of a class and series of Partnership Interests to be represented by Partnership Units which shall be
referred to as the “Series 2019 Private Perpetual Preferred Units”: 
 1.    Designation and
Number. A series of Preferred Units, designated as the “Series 2019 Private Perpetual Preferred Units,” is hereby established. The number of Series 2019 Private Perpetual Preferred Units shall be 4,610,383. 

2.    Ranking. The Series 2019 Private Perpetual Preferred Units shall, with respect to distribution rights and
rights upon voluntary or involuntary liquidation, dissolution or winding up of the Partnership, rank: 
 (a)    senior
to any classes or series of Partnership Units, if such class or series shall be OP Units or LTIP Units or if the holders of Series 2019 Private Perpetual Preferred Units shall be entitled to receipt of preferential payments or of amounts
distributable upon liquidation, dissolution or winding up, as the case may be, in preference or in priority to the holders of the Partnership Units of such class or series; 

(b)    on parity with any other class or series of Partnership Units, if the holders of such other class or series of
Partnership Units and the Series 2019 Private Perpetual Preferred Units shall be entitled to the receipt of preferential payments or of amounts distributable upon liquidation, dissolution or winding up in proportion to their respective amounts of
accrued and unpaid preferential payments per Partnership Unit or liquidation preference, without preference or priority one over the other; and 

(c)    junior to the Series 2014 Private Perpetual Preferred Units, and any class or series of Partnership Units, if the
holders of such class or series of Partnership Units shall be entitled to the receipt of preferential payments and of amounts distributable upon liquidation, dissolution or winding up, as the case may be, in preference or in priority to the holders
of the Series 2019 Private Perpetual Preferred Units. 
 The Series 2019 Private Perpetual Preferred Units will also rank junior in right of
payment to the Partnership’s existing and future debt obligations. 

  
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 3.    Preferential Payments. 

(a)    Subject to the preferential rights of the holders of any class or series of Partnership Units ranking senior to the
Series 2019 Private Perpetual Preferred Units as to distributions, the holders of the Series 2019 Private Perpetual Preferred Units shall be entitled to receive, when, as and if authorized and declared by the General Partner out of funds legally
available for that purpose, cumulative preferential payments in cash at a fixed annual amount of $0.70 per unit, or $0.175 per quarter (“Series 2019 Quarterly Preference Payments”). Series 2019 Quarterly Preference Payments shall accrue on
each Series 2019 Private Perpetual Preferred Unit and be cumulative from, and including, the later of (i) October 1, 2019, or (ii) the day immediately following the date of the last Series 2019 Quarterly Preference Payment that has
been paid in full in accordance with Section 3(e), and shall thereafter be payable quarterly in arrears on each Series 2019 Quarterly Payment Date (as defined below); provided, however, that if any Series 2019 Quarterly Payment
Date falls on a date other than a Business Day, then the Series 2019 Quarterly Preference Payment that would otherwise have been payable on such Series 2019 Quarterly Payment Date shall be paid on the first Business Day immediately following such
Series 2019 Quarterly Payment Date. Series 2019 Quarterly Preference Payments will be payable to the holder(s) of record of Series 2019 Private Perpetual Preferred Units as they appear in the records of the Partnership on the applicable Partnership
Record Date established by the General Partner for regular quarterly distributions of Available Cash pursuant to Section 5.01 of the Partnership Agreement to holders of OP Units; provided, however, than not more than four Series
2019 Quarterly Preference Payments per year shall be made to holders of Series 2019 Private Perpetual Preferred Units. The amount of any Series 2019 Quarterly Preference Payment made on the Series 2019 Private Perpetual Preferred Units for any
period other than a full quarter shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Notwithstanding any provision to the contrary
contained herein, each outstanding Series 2019 Private Perpetual Preferred Unit shall be entitled to receive a Series 2019 Quarterly Preference Payment with respect to any Series 2019 Quarterly Payment Date equal to the amount paid with respect to
each other Series 2019 Private Perpetual Preferred Unit that is outstanding on such date. “Series 2019 Quarterly Payment Date” shall mean the date on which regular quarterly distributions of Available Cash pursuant to Section 5.01 of
the Partnership Agreement are made to holders of OP Units; provided, however, that if no such distributions are paid to holders of OP Units for the applicable quarterly distribution period, the Series 2019 Quarterly Payment Date for such
period shall be the last day of each March, June, September and December, as applicable, and the Partnership Record Date for the Series 2019 Private Perpetual Preferred Unit holders entitled to such Series 2019 Quarterly Payment Period shall be the
fifteenth day of each March, June, September and December, as applicable. “Series 2019 Payment Period” shall mean the period commencing on, but excluding, a Series 2019 Quarterly Payment Date to and including the next Series 2019 Quarterly
Payment Date. “Business Day” shall mean any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions in New York City are authorized or required by law, regulation or executive
order to close. 
 (b)    Notwithstanding anything contained herein to the contrary, Series 2019 Quarterly Preference
Payments on the Series 2019 Private Perpetual Preferred Units shall accrue whether or not the Partnership has earnings, whether or not there are funds legally available for the payment thereof, and whether or not they are declared. Accrued but
unpaid Series 2019 Quarterly Preference Payments on the Series 2019 Private Perpetual Preferred Units will accumulate, without compounding, as of the Series 2019 Quarterly Payment Date on which they first become payable. 

  
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 (c)    Except as provided in Section 3(d) below and subject to the
second paragraph in Section 5.01 of the Partnership Agreement, unless either (i) the full amount of accrued Series 2019 Quarterly Preference Payments on the Series 2019 Private Perpetual Preferred Units has been or contemporaneously is
declared and paid or (ii) a sum sufficient for the payment thereof is set apart for payment (without the need for any declaration) for all past Payment Periods and the Partnership projects in good faith that the cash available for Series 2019
Quarterly Preference Payments to holders of Series 2019 Private Perpetual Preferred Units as of the next Series 2019 Quarterly Payment Date will be sufficient to fund the full payment of the accrued Series 2019 Quarterly Preference Payments at such
time on the Series 2019 Private Perpetual Preferred Units and all other classes or series of Partnership Units ranking, as to distributions, on parity with the Series 2019 Private Perpetual Preferred Units, no distributions or other payments shall
be declared and paid, and no other distribution of cash or other property may be declared and made, directly or indirectly, on or with respect to, any OP Units or any other class or series of Partnership Units ranking, as to distributions, on parity
with or junior to the Series 2019 Private Perpetual Preferred Units (other than a distribution paid in OP Units or in any other class or series of Partnership Units ranking junior to the Series 2019 Private Perpetual Preferred Units as to
distributions and upon liquidation or REIT Shares) for any period, nor shall any OP Units or any other class or series of Partnership Units ranking, as to distributions or upon liquidation, on parity with or junior to the Series 2019 Private
Perpetual Preferred Units be redeemed, purchased or otherwise acquired for any consideration, nor shall any funds be paid or made available for a sinking fund for the redemption of such units, and no other distribution of cash or other property may
be made, directly or indirectly, on or with respect thereto by the Partnership (except: (i) by conversion into or in exchange for other units of any class or series of Partnership Units ranking junior to the Series 2019 Private Perpetual
Preferred Units as to distributions and upon liquidation or REIT Shares; (ii) by redemption, purchase or acquisition of any class or series of Partnership Units made for the purposes of and in compliance with requirements of an employee
incentive, benefit or share purchase plan of the Partnership or the General Partner or any of their subsidiaries; (iii) for the redemption of Partnership Units corresponding to any shares of capital stock of the General Partner to be redeemed
or purchased by the General Partner pursuant to its Amended and Restated Certificate of Incorporation, as amended (the “Charter”), to the extent necessary to preserve the General Partner’s status as a real estate investment trust for
United States federal income tax purposes; provided, that such redemption shall be upon the same terms as the corresponding stock purchase pursuant to the Charter; (iv) for the redemption of Partnership Units corresponding to the redemption,
purchase or acquisition of any shares of any class or series of capital stock of the General Partner ranking senior to the REIT Shares as to payment of dividends and upon liquidation; and (v) for the purchase or redemption by the Partnership of
OP Units for cash in accordance with Article VIII of the Partnership Agreement, if the Partnership projects in good faith that it will have sufficient access to capital to satisfy its obligations); provided, however, that the foregoing prohibition
on distributions and other payments on or with respect to, and on redemption of, any OP Units or any other class or series of Partnership Units ranking, as to distributions or upon liquidation, on parity with or junior to the Series 2019 Private
Perpetual Preferred Units (other than the prohibition on distributions upon liquidation) shall not apply if, and only if, the General Partner concludes in good faith that the absence of such distribution and other

  
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payments or redemption would materially impair the market value of the Partnership, in which case the then accrued but unpaid Series 2019 Quarterly Preference Payments shall thereafter accrue
with additional amounts thereon at 8% per annum compounding annually, and any such additional amounts shall be deemed included in the Series 2019 Quarterly Preference Payments until paid. 

(d)    When Series 2019 Quarterly Preference Payments are not paid in full (and a sum sufficient for such full payment is
not so set apart) on the Series 2019 Private Perpetual Preferred Units and on any other class or series of Partnership Units ranking, as to distributions, on parity with the Series 2019 Private Perpetual Preferred Units, all Series 2019 Quarterly
Preference Payments declared upon the Series 2019 Private Perpetual Preferred Units and all distributions declared upon each such other class or series of Partnership Units ranking, as to distributions, on parity with the Series 2019 Private
Perpetual Preferred Units shall, subject to Section 3(g), be declared pro rata so that the amounts of Series 2019 Quarterly Preference Payments made per Series 2019 Private Perpetual Preferred Unit and distributions declared on such
other class or series of Partnership Unit shall, subject to Section 3(g), in all cases bear to each other the same ratio that accrued Series 2019 Quarterly Preference Payments per Series 2019 Private Perpetual Preferred Unit and accrued
distributions for such other class or series of Partnership Unit (which shall not include any accrual in respect of unpaid distributions on such other class or series of Partnership Units for prior distribution periods if such other class or series
of Partnership Units does not have a cumulative distribution) bear to each other. No interest, or sum of money in lieu of interest, shall be payable in respect of any payments on the Series 2019 Private Perpetual Preferred Units which may be in
arrears. 
 (e)    Without limiting the other provisions of this Section 3 (including Section 3(g)), no Series
2019 Quarterly Preference Payments on Series 2019 Private Perpetual Preferred Units (other than liquidating distributions made in accordance with Article XIII of the Partnership Agreement) shall be paid by the Partnership at such time as the terms
of any agreement of the Partnership or its affiliates or subsidiaries, relating to bona fide indebtedness for borrowed money, prohibits such payment or provides that such payment would constitute a breach thereof or a default thereunder, or
if such payment shall be restricted or prohibited by law (and such failure to pay Series 2019 Quarterly Preference Payments on the Series 2019 Private Perpetual Preferred Units shall prohibit other distributions by the Partnership as described in
Sections 3(c) and (d) above); for the avoidance of doubt, Series 2019 Quarterly Preference Payments on the Series 2019 Private Perpetual Preferred Units will nonetheless continue to accrue during any period in which they cannot be paid pursuant
to this Section 3(e). 
 (f)    Except as provided in Section 4, holders of the Series 2019 Private Perpetual
Preferred Units shall not be entitled to any payment or other distribution, whether payable in cash, property or shares of stock, in excess of full cumulative Series 2019 Quarterly Preference Payments on the Series 2019 Private Perpetual Preferred
Units as provided herein. Any Series 2019 Quarterly Preference Payments made on the Series 2019 Private Perpetual Preferred Units shall first be credited against the earliest accrued but unpaid Series 2019 Quarterly Preference Payment due with
respect to such units which remain payable. 
 (g)    Notwithstanding anything contained herein to the contrary, Series
2019 Quarterly Preference Payments shall only be payable to the extent that the Partnership has previously allocated (or will (as determined in good faith by the General Partner) allocate in, or with respect

  
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to, such taxable year) Net Operating Income to the holders of such Series 2019 Private Perpetual Preferred Units with respect to the Series 2019 Private Perpetual Preferred Units pursuant to
Section 6.03(h) of the Partnership Agreement in an amount equivalent to such accrued Series 2019 Quarterly Preference Payment to be paid. 

(h)    The right to payments with respect to Series 2019 Private Perpetual Preferred Units shall be governed by this
Section 3 and not by Article V of the Partnership Agreement. Series 2019 Quarterly Preference Payments shall constitute “distributions” for purposes of the provisions of the Partnership Agreement governing the maintenance of Capital
Accounts, Distributions, Allocations, related definitions and similar provisions. Allocations of Net Income shall not be made to holders of Series 2019 Private Perpetual Preferred Units under Section 6.02(a)(i)(E) of the Partnership Agreement,
but allocations of Net Operating Income shall be made pursuant to Section 6.03(h) and Net Income and Net Loss may be allocated to holders of Series 2019 Perpetual Preferred Units pursuant to Section 6.02(a)(i)(D) and
Section 6.02(a)(ii)(C), as applicable pursuant to the terms of the Partnership Agreement. 
 4.    Liquidation
Preference. 
 (a)    Upon any voluntary or involuntary liquidation, dissolution or winding up of the Partnership,
before any distribution or payment shall be made to holders of OP Units or any other class or series of Partnership Units ranking, as to rights upon any voluntary or involuntary liquidation, dissolution or winding up of the Partnership, junior to
the Series 2019 Private Perpetual Preferred Units, the holders of Series 2019 Private Perpetual Preferred Units shall be entitled to be paid out of the assets of the Partnership legally available for distribution to its unitholders, after payment of
or provision for the debts and other liabilities of the Partnership, a liquidation preference of $13.52 per unit, plus an amount equal to any accrued and unpaid Series 2019 Quarterly Preference Payments (whether or not declared) up to, but excluding
the date of payment, provided that such accrued and unpaid Series 2019 Quarterly Preference Payments shall only be payable to the extent that the Partnership has previously allocated (or will (as determined in good faith by the General Partner)
allocate in, or with respect to, such taxable year) Net Operating Income in respect of such Series 2019 Private Perpetual Preferred Units pursuant to Section 6.03(h) of the Partnership Agreement in an amount equivalent to such accrued and
unpaid Series 2019 Quarterly Preference Payments (the “Series 2019 Private Perpetual Preferred Unit Liquidation Preference”). 

(b)    In the event that, upon such voluntary or involuntary liquidation, dissolution or winding up, the available assets
of the Partnership are insufficient to pay the full amount of the Series 2019 Private Perpetual Preferred Unit Liquidation Preference on all outstanding Series 2019 Private Perpetual Preferred Units and the corresponding amounts payable on all other
classes or series of Partnership Units ranking, as to liquidation rights, on parity with the Series 2019 Private Perpetual Preferred Units in the distribution of assets, then, subject to Sections 3(g) and 4(a), the holders of the Series 2019 Private
Perpetual Preferred Units and the holders of each such other class or series of Partnership Units ranking, as to rights upon any voluntary or involuntary liquidation, dissolution or winding up, on parity with the Series 2019 Private Perpetual
Preferred Units shall share ratably in any such distribution of assets in proportion to the full liquidating distributions to which they would otherwise be respectively entitled. 

  
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 (c)    After payment of the full amount of the Series 2019 Private
Perpetual Preferred Unit Liquidation Preference to which the holders of the Series 2019 Private Perpetual Preferred Units are entitled pursuant to the above, the holders of the Series 2019 Private Perpetual Preferred Units will have no right or
claim to any of the remaining assets of the Partnership. 
 (d)    The consolidation or merger of the Partnership with
or into any other corporation, partnership, trust or entity or of any other corporation, partnership, trust or entity with or into the Partnership, or an exchange of Partnership Units or Partnership Interests, or the voluntary sale, lease, transfer
or conveyance of all or substantially all of the property or business of the Partnership shall not be deemed to constitute a liquidation, dissolution or winding up of the Partnership. 

5.    Redemption. 

(a)    The Partnership may redeem the Series 2019 Private Perpetual Preferred Units, in whole or in part, at any time if,
but only to the extent, required to preserve the status of the General Partner as a real estate investment trust for United States federal income tax purposes. 

(b)    If the Partnership or the General Partner shall be a party to any transaction (including without limitation a
merger, consolidation, unit exchange, self-tender offer for all or substantially all OP Units or other business combination or reorganization, or sale of all or substantially all of the Partnership’s assets), in each case as a result of which
OP Units shall be exchanged for or converted into the right, or the holders of OP Units shall otherwise be entitled, to receive cash, securities or other property or any combination thereof (each of the foregoing being referred to herein as a
“Transaction”), then in connection with such Transaction the Partnership shall have the right, at its option, to redeem the Series 2019 Private Perpetual Preferred Units (the “Series 2019 Perpetual Preferred Redemption Right”),
in whole but not in part, for cash at a redemption price equal to $13.52 per unit, plus an amount equal to any accrued and unpaid Series 2019 Quarterly Preference Payments (whether or not declared) up to, but excluding the date of the Transaction,
multiplied by 200%, without interest, to the extent the Partnership has funds legally available therefor (the “Series 2019 Perpetual Preferred Redemption Amount”). The Series 2019 Perpetual Preferred Redemption Right shall be deemed to
have been exercised “in connection with” such Transaction if the relevant notice of redemption is mailed to the holders of Series 2019 Private Perpetual Preferred Units not earlier than the 60 days prior to, nor later than 90 days after,
the effective date of the Transaction. Holders of Series 2019 Private Perpetual Preferred Units to be redeemed shall surrender such Series 2019 Private Perpetual Preferred Units at the place designated in such notice and shall be entitled to the
Series 2019 Perpetual Preferred Redemption Amount payable upon such redemption following such surrender. If (i) notice of redemption of any Series 2019 Private Perpetual Preferred Units has been given, (ii) the funds necessary for such
redemption have been set aside by the Partnership in trust for the benefit of the holders of any Series 2019 Private Perpetual Preferred Units so called for redemption, and (iii) irrevocable instructions have been given to pay the Series 2019
Perpetual Preferred Redemption Amount, then from and after the redemption date, Series 2019 Quarterly Preference Payments shall cease to accrue on such Series 2019 Private Perpetual Preferred Units, such Series 2019 Private Perpetual Preferred Units
shall no longer be deemed outstanding, and all rights of the holders of such units shall terminate, except the right to receive the Series 2019 Perpetual Preferred Redemption Amount. Subject to applicable escheat laws, any such cash unclaimed at the
end of two years from the redemption date shall revert to the general funds of the Partnership, after which reversion, the holders of such units so called for redemption shall look only to the general funds of the Partnership for the payment of such
cash. 

  
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 (c)    The Series 2019 Private Perpetual Preferred Units are not
redeemable at the option of the holder thereof and, except as provided in Section 5(a) or (b), are not redeemable at the option of the Partnership. So long as full cumulative Series 2019 Quarterly Preference Payments on the Series 2019 Private
Perpetual Preferred Units for all past Payment Periods that have ended shall have been or contemporaneously are (i) declared and paid in cash, or (ii) declared and a sum sufficient for the payment thereof in cash is set apart for payment,
nothing herein shall prevent or restrict the Partnership’s right or ability to purchase, from time to time, either at a public or a private sale, all or any part of the Series 2019 Private Perpetual Preferred Units at such price or prices as
the General Partner may determine, subject to the provisions of applicable law, including the repurchase of Series 2019 Private Perpetual Preferred Units in open-market transactions duly authorized by the General Partner. 

(d)    Notice of redemption pursuant to the Series 2019 Perpetual Preferred Redemption Right shall be mailed by the
Partnership, postage prepaid, not fewer than 15 nor more than 60 days prior to the redemption date, addressed to the respective holders of record of the Series 2019 Private Perpetual Preferred Units to be redeemed at their respective addresses as
they appear on the records of the Partnership and may be conditional upon consummation of the relevant Transaction. No failure to give such notice or any defect therein or in the mailing thereof shall affect the validity of the proceedings for the
redemption of any Series 2019 Private Perpetual Preferred Units except as to the holder to whom such notice was defective or not given. In addition to any information required by law, each such notice shall state: (i) the redemption date;
(ii) the redemption price; (iii) the number of Series 2019 Private Perpetual Preferred Units to be redeemed; (iv) the place or places where the certificates, if any, representing Series 2019 Private Perpetual Preferred Units are to be
surrendered for payment of the redemption price; (v) procedures for surrendering noncertificated Series 2019 Private Perpetual Preferred Units for payment of the redemption price; (vi) that Series 2019 Quarterly Preference Payments on the
Series 2019 Private Perpetual Preferred Units to be redeemed shall cease to accrue on such redemption date; and (vii) that payment of the Series 2019 Perpetual Preferred Redemption Amount will be made upon presentation and surrender of such
Series 2019 Private Perpetual Preferred Units. 
 (e)    From and after the date of any such redemption of Series 2019
Private Perpetual Preferred Units, the Series 2019 Private Perpetual Preferred Units so redeemed shall no longer be outstanding, and all rights of the holders of such Series 2019 Private Perpetual Preferred Units shall terminate. 

(f)    In addition, in the event of the liquidation, dissolution or winding up of the Partnership, the General Partner
shall have the right to redeem, on any payment date established by the General Partner for liquidating distributions pursuant to Article XIII of the Partnership Agreement, Series 2019 Private Perpetual Preferred Units in consideration for the Series
2019 Private Perpetual Preferred Unit Liquidation Preference. 
 (g)    Each holder of Series 2019 Private Perpetual
Preferred Units covenants and agrees with the Partnership that all Series 2019 Private Perpetual Preferred Units delivered for redemption pursuant to this Section 5 shall be delivered to the Partnership free and clear of all liens,

  
 11 

 
encumbrances or other claims or charges and, notwithstanding anything contained herein to the contrary, the Partnership shall not be under any obligation to acquire Series 2019 Private Perpetual
Preferred Units which are or may be subject to any such liens, encumbrances or other claims or charges. 

6.    Voting Rights. 

(a)    Holders of the Series 2019 Private Perpetual Preferred Units shall only (a) have those voting rights required
from time to time by non-waivable provisions of applicable law, if any, and (b) have the additional voting rights that are expressly set forth in this Section 6. 

(b)    So long as any Series 2019 Private Perpetual Preferred Units remain outstanding, the affirmative vote or consent of
the holders of a majority of the Series 2019 Private Perpetual Preferred Units outstanding at the time (voting separately as a class), given in person or by proxy, either in writing or at a meeting, will be required to amend, alter or repeal the
provisions of this Partnership Unit Designation, whether by merger, consolidation, transfer or conveyance of all or substantially all of its assets or otherwise (an “Event”), so as to materially and adversely affect the rights,
preferences, privileges or voting powers of the Series 2019 Private Perpetual Preferred Units; provided, however, that with respect to the occurrence of any Event, so long as the Series 2019 Private Perpetual Preferred Units remain
outstanding with the terms thereof materially unchanged, taking into account that, upon the occurrence of an Event, the Partnership may not be the surviving entity, the occurrence of such Event shall not be deemed to materially and adversely affect
such rights, preferences, privileges or voting powers of Series 2019 Private Perpetual Preferred Units, and in such case such holders shall not have any voting rights with respect to the occurrence of any Event or Events; provided,
further, that such vote or consent will not be required with respect to any such amendment, alteration or repeal that equally affects the terms of the Series 2019 Private Perpetual Preferred Stock and one or more other classes or series of
preferred stock ranking on parity with the Series 2019 Private Perpetual Preferred Stock with respect to the payment of distributions and rights upon any voluntary or involuntary liquidation, dissolution or winding up of the Partnership upon which
like voting rights have been conferred, if such amendment, alteration or repeal is approved by the affirmative vote or consent of the holders of a majority of the Series 2019 Private Perpetual Preferred Units and such other class or series of
Preferred Units outstanding at the time, either in writing or at a meeting (voting as a single class). 
 (c)    Holders
of Series 2019 Private Perpetual Preferred Units shall not be entitled to vote with respect to (A) any increase in the total number of OP Units or LTIP Units or, except as provided in Section 6(c), Preferred Units, or (B) any increase
in the number Series 2019 Private Perpetual Preferred Units or, except as provided in the immediately preceding paragraph, the creation or issuance of any other class or series of Partnership Interests, or (C) any increase in the Partnership
Interests of any other class or series, in each case referred to in clause (A), (B) or (C) above, ranking on parity with or junior to the Series 2019 Private Perpetual Preferred Units with respect to the payment of distributions and rights upon
any voluntary or involuntary liquidation, dissolution or winding up of the Partnership. Except as set forth herein, holders of the Series 2019 Private Perpetual Preferred Units shall not have any voting rights with respect to, and the consent of the
holders of the Series 2019 Private Perpetual Preferred Units shall not be required for, the taking of any partnership action by the General Partner, including an Event, regardless of the effect that such partnership action or Event may have upon the
powers, preferences, voting power or other rights or privileges of the Series 2019 Private Perpetual Preferred Units. 

  
 12 

 (d)    The foregoing voting provisions of this Section 6 shall not
apply if, at or prior to the time when the act with respect to which such vote would otherwise be required shall be effected, all outstanding Series 2019 Private Perpetual Preferred Units shall have been redeemed or (i) notice of redemption of
all of the outstanding Series 2019 Private Perpetual Preferred Units has been given, (ii) the funds necessary for such redemption have been set aside by the Partnership in trust for the benefit of the holders of such Series 2019 Private
Perpetual Preferred Units so called for redemption, and (iii) irrevocable instructions have been given to pay the redemption price and all accrued and unpaid distributions thereon. 

(e)    In any matter in which the Series 2019 Private Perpetual Preferred Units may vote (as expressly provided herein),
each Series 2019 Private Perpetual Preferred Unit shall be entitled to one vote per $13.52 of liquidation preference (excluding amounts in respect of accumulated and unpaid dividends). 

7.    Conversion. The Series 2019 Private Perpetual Preferred Units shall not be convertible into or exchangeable
for any other Partnership Interests or other property or securities of the Partnership or any other entity, including the General Partner. 

8.    Transfers. Transfers of Series 2019 Private Perpetual Partnership Units shall be subject to
Section 11.03 of the Partnership Agreement, including without limitation Section 11.03(b), it being understood that (a) Series 2019 Private Perpetual Preferred Units will not be listed on a National Securities Exchange and
(b) all Transfers of Series 2019 Private Perpetual Preferred Units will be effective as of the first day of the fiscal quarter of the Partnership immediately following the date when all requirements for the applicable transfer have been
satisfied. 
 9.    Record Holders. The Partnership and its Transfer Agent may deem and treat the record holder
of any Series 2019 Private Perpetual Preferred Unit as the true and lawful owner thereof for all purposes, and neither the Partnership nor its Transfer Agent shall be affected by any notice to the contrary. 

10.    No Creditor Rights. The rights of each Series 2019 Private Perpetual Preferred Unit holder pursuant to this
Partnership Unit Designation arise solely from its ownership as a Limited Partner of Partnership Interests in the Partnership and not from it being a creditor of the Partnership, and none of such shall constitute a “claim” as such term is
defined in Section 101 of the United States Bankruptcy Code as in effect as of the date of this Partnership Unit Designation; provided, however, that any rights in respect of such Series 2019 Private Perpetual Preferred Units
shall constitute equity interests, it being agreed and understood that no holder is waiving any equity interest it has in the Partnership or any rights to assert any such interests in any bankruptcy proceeding or otherwise. 

11.    No Maturity or Sinking Fund. The Series 2019 Private Perpetual Preferred Units have no maturity date. No
sinking fund has been established for the retirement or redemption of Series 2019 Private Perpetual Preferred Units. 

  
 13 

 12.    Withholding and Taxes. In the event any amount is required
to be withheld for federal, state, local or foreign taxes, or otherwise, with respect to any amount payable on the Series 2019 Private Perpetual Preferred Units, the provisions of Section 5.04 (Amounts Withheld) and Section 10.04
(Withholding) of the Partnership Agreement shall apply as if such amounts payable on the Series 2019 Private Perpetual Preferred Units were “distributions.” Any amounts withheld by the Partnership with respect to any payment on or in
liquidation or redemption of a Series 2019 Private Perpetual Preferred Unit shall be treated as paid to the holder of such Unit under the applicable provision of this Exhibit F or the Partnership Agreement, as applicable. 

13.    Exclusion of Other Rights. The Series 2019 Private Perpetual Preferred Units shall not have any preferences
or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications or terms or conditions of redemption other than expressly set forth in this Partnership Unit Designation. 

14.    Headings of Subdivisions. The headings of the various subdivisions hereof are for convenience of reference
only and shall not affect the interpretation of any of the provisions hereof. 
 15.    Severability of
Provisions. If any preferences or other rights, voting powers, restrictions, limitations as to preferential payments, qualifications or terms or conditions of redemption of the Series 2019 Private Perpetual Preferred Units set forth in this
Partnership Unit Designation is invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, all other preferences or other rights, voting powers, restrictions, limitations as to preferential payments,
qualifications or terms or conditions of redemption of Series 2019 Private Perpetual Preferred Units set forth in this Partnership Unit Designation which can be given effect without the invalid, unlawful or unenforceable provision thereof shall,
nevertheless, remain in full force and effect and no preferences or other rights, voting powers, restrictions, limitations as to preferential payments, qualifications or terms or conditions of redemption of the Series 2019 Private Perpetual
Preferred Units herein set forth shall be deemed dependent upon any other provision thereof unless so expressed therein. 

16.    No Preemptive Rights. No holder of Series 2019 Private Perpetual Preferred Units shall be entitled to, as
such holder, any preemptive right to purchase or subscribe for or acquire any additional Partnership Interests or any other security of the Partnership convertible into or carrying a right to subscribe to or acquire Partnership Interests. 

  
 14 

 IN WITNESS WHEREOF, Empire State Realty Trust, Inc., as General Partner in the
Partnership, has caused this Amendment to become effective, and the Partnership Agreement is hereby amended by giving effect to the terms set forth herein. 
  

			
	EMPIRE STATE REALTY OP, L.P.
	
	By: EMPIRE STATE REALTY TRUST, INC.
	       General Partner
		
	By:	 	 /s/ Thomas N. Keltner, Jr.

	Name:	 	Thomas N. Keltner, Jr.
	Title:	 	Executive Vice President, General Counsel and Secretary

  
 15Coughlin

Exhibit 10.1
ENDO HEALTH SOLUTIONS INC.
EXECUTIVE EMPLOYMENT AGREEMENT
THIS AGREEMENT (this “Agreement”) is hereby entered into as of December 9, 2019 (the “Effective Date”), by and between Endo Health Solutions Inc. (the “Company”), a wholly-owned subsidiary of Endo International plc (“Endo”), and Terrance J. Coughlin (“Executive”) (hereinafter collectively referred to as “the parties”).
In consideration of the respective agreements of the parties contained herein, it is agreed as follows: 
		
	1.
	Term. The term of this Agreement shall be for the period commencing on the Effective Date and ending, subject to earlier termination as set forth in Section 6, on the third anniversary thereof (the “Employment Term”).

		
	2.
	Employment. During the Employment Term:

		
	(a)
	Executive shall serve as Executive Vice President and Chief Operating Officer of Endo and shall be assigned with the customary duties and responsibilities of such position. If Executive serves as a director of Endo or as a director or officer of any of Endo’s affiliates, then Executive will fulfill Executive’s duties as such director or officer without additional compensation.

		
	(b)
	Executive shall report directly to Endo’s Chief Executive Officer.  Executive shall perform the duties, undertake the responsibilities and exercise the authority customarily performed, undertaken and exercised by persons situated in a similar executive capacity.

		
	(c)
	Executive shall devote substantially full-time attention to the business and affairs of the Company and its affiliates. Executive may (i) serve on corporate, civic, charitable or non-profit boards or committees, subject in all cases to the prior approval of the board of directors of Endo (the “Board”) and other applicable written policies of the Company and its affiliates as in effect from time to time, and (ii) manage personal and family investments, participate in industry organizations and deliver lectures at educational institutions or events, so long as no such service or activity unreasonably interferes, individually or in the aggregate, with the performance of Executive’s responsibilities hereunder.

1

		
	(d)
	Executive shall be subject to and shall abide by each of the personnel and compliance policies of the Company and its affiliates applicable and communicated in writing to senior executives.

		
	(e)
	Executive shall provide services at the Company’s office in Chestnut Ridge, New York, and will travel to additional locations to the extent reasonably necessary and appropriate to fulfill Executive’s duties.

		
	3.
	Annual Compensation.

		
	(a)
	Base Salary. The Company agrees to pay or cause to be paid to Executive during the Employment Term a base salary at the rate of $641,000 per annum or such increased amount in accordance with this Section 3(a) (hereinafter referred to as the “Base Salary”). Such Base Salary shall be payable in accordance with the Company’s customary practices applicable to its executives. Such Base Salary shall be reviewed at least annually by the Compensation Committee of the Board (the “Committee”), with the first such planned review to occur in February 2020, and may be increased in the sole discretion of the Committee, but not decreased.

		
	(b)
	Annual Incentive Compensation. For each fiscal year of the Company ending during the Employment Term, effective as of the 2019 fiscal year, Executive shall be eligible to receive a target annual cash bonus of 70% of Executive’s Base Salary (such target bonus, as may hereafter be increased, the “Target Bonus”) with the opportunity to receive a maximum annual cash bonus in accordance with the terms of the applicable annual cash bonus plan as in effect from time to time, subject to the achievement of performance targets set by the Committee. Such annual cash bonus (“Incentive Compensation”) shall be paid in no event later than the 15th day of the third month following the end of the taxable year (of the Company or Executive, whichever is later) in which the performance targets have been achieved.  If the parties (following good faith negotiation) fail to enter into a new employment agreement following expiration of the Employment Term and Executive terminates Executive’s employment within ninety (90) days following expiration of the Employment Term under circumstances that would have constituted Good Reason had such termination occurred during the Employment Term or if, during such 90-day period, the Company terminates Executive’s employment under circumstances that would not have constituted Cause had such termination occurred during the Employment Term, then the Company shall pay Executive a Pro-Rata Bonus (as defined in Section 8(b)(ii) below) in a lump sum at the time bonuses are payable to other senior executives of the Company.

2

		
	4.
	Long-Term Incentive Compensation. During the Employment Term, Executive shall be eligible to receive long-term incentive compensation, which may be subject to the achievement of certain performance targets set by the Committee. Beginning with grants made in 2020, Executive shall be eligible to receive long-term incentive compensation awards with a targeted grant date fair market value (as determined in the sole discretion of the Committee) equal to 350% of Executive’s Base Salary.  Notwithstanding the foregoing, to the extent the shares available under the Company’s shareholder approved incentive plans are insufficient to make such grant (after taking into account the totality of grants to be made by the Company in a given year), in the Committee’s sole discretion, all or a portion of the long-term incentive compensation may be issued in the form of a cash-based award on terms determined by the Committee.  All such equity-based or cash-based awards shall be subject to the terms and conditions set forth in the applicable plan and award agreements, and in all cases shall be as determined by the Committee; provided, that, such terms and conditions shall be no less favorable than those provided for other senior executives of the Company.  If the parties (following good faith negotiation) fail to enter into a new employment agreement following expiration of the Employment Term and Executive terminates Executive’s employment within ninety (90) days following expiration of the Employment Term under circumstances that would have constituted Good Reason had such termination occurred during the Employment Term or if, during such 90-day period, the Company terminates Executive’s employment under circumstances that would not have constituted Cause had such termination occurred during the Employment Term, then such termination of employment shall be treated as a termination of employment for “Good Reason” or without Cause, as applicable, for purposes of the performance-based restricted stock units held by Executive as of the date of such termination of employment (and such awards shall be treated in accordance with the terms of the applicable award agreements).

		
	5.
	Other Benefits.

		
	(a)
	Employee Benefits. During the Employment Term, Executive shall be entitled to participate in all employee benefit plans, practices and programs maintained by the Company or its affiliates and made available to similarly situated employees generally, including all pension, retirement, profit sharing, savings, medical, hospitalization, disability, dental, life or travel accident insurance benefit plans, to the extent Executive is eligible under the terms of such plans. Executive’s participation in such plans, practices and programs shall be on the same basis and terms as are applicable to employees of the Company generally.  During the Employment Term, Executive shall also be entitled to participate in all executive benefit plans and entitled to all fringe benefits and perquisites generally made available by the Company or its affiliates to its senior executives in accordance 

3

with current Company policy now maintained or hereafter established by the Company or its affiliates for the purpose of providing executive benefits or perquisites to comparable executive employees of the Company including, but not limited to, the Company’s supplemental retirement, deferred compensation, supplemental medical or life insurance plans. Unless otherwise provided herein, Executive’s participation in such plans and programs shall be on the same basis and terms as other senior executives of the Company. No additional compensation provided under any of such plans shall be deemed to modify or otherwise affect the terms of this Agreement or any of Executive’s entitlements hereunder. Executive is responsible for any taxes (other than taxes that are the Company’s responsibility) that may be due based upon the value of the benefits or perquisites provided pursuant to this Agreement whether provided during or following the Employment Term.  For the avoidance of doubt, Executive shall not be entitled to any excise tax gross-up under Section 280G or Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”) (or any successor provision), or any other tax gross-up.
		
	(b)
	Business Expenses. Upon submission of proper invoices in accordance with the Company’s normal procedures, Executive shall be entitled to receive prompt reimbursement of all reasonable out-of-pocket business, entertainment and travel expenses incurred by Executive in connection with the performance of Executive’s duties hereunder. Such reimbursement shall be made in no event later than the end of the calendar year following the calendar year in which the expenses were incurred.

		
	(c)
	Office and Facilities. During the Employment Term, Executive shall be provided with an appropriate office, with such secretarial and other support facilities as are commensurate with Executive’s status with the Company and its affiliates, which facilities shall be adequate for the performance of Executive’s duties hereunder. 

		
	(d)
	Vacation and Sick Leave. Executive shall be entitled, without loss of pay, to absent himself or herself voluntarily from the performance of Executive’s employment under this Agreement, pursuant to the following:

		
	(i)
	Executive shall be entitled to annual vacation in accordance with the vacation policies of the Company as in effect from time to time, which shall in no event be less than four weeks per year; and

		
	(ii)
	Executive shall be entitled to sick leave (without loss of pay) in accordance with the Company’s policies as in effect from time to time.

4

		
	6.
	Termination. The Employment Term and Executive’s employment hereunder may be terminated under the circumstances set forth below; provided, however, that notwithstanding anything contained herein to the contrary, Executive shall not be considered to have terminated employment with the Company for purposes of this Agreement unless Executive would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A of the Code.

		
	(a)
	Disability. The Company may terminate Executive’s employment, on written notice to Executive after having reasonably established Executive’s Disability. For purposes of this Agreement, Executive will be deemed to have a “Disability” if, as a result of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, Executive is unable to perform the core functions of Executive’s position (with or without reasonable accommodation) or is receiving income replacement benefits for a period of six (6) months or more under the Company’s long-term disability plan. Executive shall be entitled to the compensation and benefits provided for under this Agreement for any period prior to Executive’s termination by reason of Disability during which Executive is unable to work due to a physical or mental infirmity in accordance with the Company’s policies for similarly situated executives.

		
	(b)
	Death. Executive’s employment shall be terminated as of the date of Executive’s death.

		
	(c)
	Cause. The Company may terminate Executive’s employment for Cause (as defined below), effective as of the date of the Notice of Termination (as defined in Section 7 below) that notifies Executive of Executive’s termination for Cause. “Cause” shall mean, for purposes of this Agreement: (i) the continued failure by Executive to use good faith efforts in the performance of Executive’s duties under this Agreement (other than any such failure resulting from Disability or other allowable leave of absence); (ii) the criminal felony indictment (or non-U.S. equivalent) of Executive by a court of competent jurisdiction; (iii) the engagement by Executive in misconduct that has caused, or, is reasonably likely to cause, material harm (financial or otherwise) to the Company, including (A) the unauthorized disclosure of material secret or Confidential Information (as defined in Section 10(d) below) of the Company, (B) the debarment of the Company by the U.S. Food and Drug Administration or any successor agency (the “FDA”) or any non-U.S. equivalent, or (C) the registration of the Company with the U.S. Drug Enforcement Administration of any successor agency (the “DEA”) being revoked; (iv) the debarment of Executive by the FDA; (v) the continued material 

5

breach by Executive of this Agreement; (vi) any material breach by Executive of a Company policy; (vii) any material breach by Executive of a Company policy related to sexual or other types of harassment or abusive conduct, which breach is injurious to the Company; or (viii) Executive making, or being found to have made, a certification relating to the Company’s financial statements and public filings that is known to Executive to be false. Notwithstanding the foregoing, prior to having Cause for Executive’s termination (other than as described in clauses (ii), (iv) and (vii) above), the Company must deliver a written demand to Executive which specifically identifies the conduct that may provide grounds for Cause within ninety (90) calendar days of the Company’s actual knowledge of such conduct, events or circumstances, and Executive must have failed to cure such conduct (if curable) within thirty (30) days after such demand. References to the Company in subsections (i) through (viii) of this paragraph shall also include affiliates of the Company. 
		
	(d)
	Without Cause. The Company may terminate Executive’s employment without Cause. The Company shall deliver to Executive a Notice of Termination (as defined in Section 7 below) not less than thirty (30) days prior to the termination of Executive’s employment without Cause and the Company shall have the option of terminating Executive’s duties and responsibilities prior to the expiration of such thirty-day notice period, provided the Company pays Base Salary through the end of such notice period.

		
	(e)
	Good Reason. Executive may terminate employment with the Company for Good Reason (as defined below) by delivering to the Company a Notice of Termination not less than thirty (30) days prior to the termination of Executive’s employment for Good Reason. The Company shall have the option of terminating Executive’s duties and responsibilities prior to the expiration of such thirty-day notice period provided the Company pays Base Salary through the end of such notice period. For purposes of this Agreement, “Good Reason” means any of the following without Executive’s written consent: (i) a diminution in Executive’s Base Salary, a material diminution in Target Bonus (provided that failure to earn a bonus equal to or in excess of the Target Bonus by reason of failure to achieve applicable performance goals shall not be deemed Good Reason) or a material diminution in benefits; (ii) a material diminution of Executive’s position, responsibilities, duties or authorities from those in effect as of the Effective Date; (iii) any change in reporting structure such that Executive is required to report to someone other than Endo’s Chief Executive Officer; (iv) any material breach by the Company of its obligations under this Agreement; or (v) the Company requiring Executive to be based at any office or location that increases the length of Executive’s commute 

6

by more than fifty (50) miles. Executive shall provide notice of the existence of the Good Reason condition within ninety (90) days of the date Executive learns of the condition, and the Company shall have a period of thirty (30) days during which it may remedy the condition, and in case of full remedy such condition shall not be deemed to constitute Good Reason hereunder. 
		
	(f)
	Without Good Reason. Executive may voluntarily terminate Executive’s employment without Good Reason by delivering to the Company a Notice of Termination not less than thirty (30) days prior to the termination of Executive’s employment and the Company shall have the option of terminating Executive’s duties and responsibilities prior to the expiration of such thirty-day notice period provided the Company shall not be obligated to pay any amount through the end of such notice period.

		
	7.
	Notice of Termination. Any purported termination by the Company or by Executive shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice that indicates a termination date, the specific termination provision in this Agreement relied upon and sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. For purposes of this Agreement, no such purported termination of Executive’s employment hereunder shall be effective without such Notice of Termination (unless waived by the party entitled to receive such notice).

		
	8.
	Compensation Upon Termination. Upon termination of Executive’s employment during the Employment Term, Executive shall be entitled to the following benefits:

		
	(a)
	Termination by the Company for Cause or by Executive Without Good Reason. If Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason, the Company shall pay Executive: 

		
	(i)
	any accrued and unpaid Base Salary, payable on the next payroll date; 

		
	(ii)
	any Incentive Compensation earned but unpaid in respect of any completed fiscal year preceding the termination date, payable at the time annual incentive compensation is paid to other senior executives; 

		
	(iii)
	reimbursement for any and all monies advanced or expenses incurred in connection with Executive’s employment for reasonable and necessary expenses incurred by Executive on behalf of the Company for the period ending on the termination date, which amount shall be reimbursed within 

7

thirty (30) days of the Company’s receipt of proper documentation from Executive; 
		
	(iv)
	any accrued and unpaid vacation pay, payable on the next payroll date;

		
	(v)
	any previous compensation that Executive has previously deferred (including any interest earned or credited thereon), in accordance with the terms and conditions of the applicable deferred compensation plans or arrangements then in effect, to the extent vested as of Executive’s termination date, paid pursuant to the terms of such plans or arrangements; and 

		
	(vi)
	any amount or benefit as provided under any benefit plan or program in accordance with the terms thereof (the foregoing items in Sections 8(a)(i) through 8(a)(vi) being collectively referred to as the “Accrued Compensation”).

		
	(b)
	Termination by the Company for Disability. If Executive’s employment is terminated by the Company for Disability, the Company shall pay Executive:

		
	(i)
	the Accrued Compensation;

		
	(ii)
	an amount equal to the Incentive Compensation that Executive would have been entitled to receive in respect of the fiscal year in which Executive’s termination date occurs, had Executive continued in employment until the end of such fiscal year, which amount, determined based on actual performance for such year relative to the performance goals applicable to Executive (but without any exercise of negative discretion with respect to Executive in excess of that applied to either senior executives of the Company generally or in accordance with the Company’s historical past practice), shall be multiplied by a fraction (A) the numerator of which is the number of days in such fiscal year through the termination date and (B) the denominator of which is 365 (the “Pro-Rata Bonus”) and shall be payable in a lump sum payment at the time such bonus or annual incentive awards are payable to other participants. Further, upon Executive’s Disability (irrespective of any termination of employment related thereto), the Company shall pay Executive for twenty-four (24) consecutive months thereafter regular payments in the amount by which Executive’s monthly Base Salary exceeds Executive’s monthly Disability insurance benefit; and 

8

		
	(iii)
	continued coverage for Executive and Executive’s dependents under any health, medical, dental, vision and basic life insurance (but not supplemental life insurance) program or policy in which Executive was eligible to participate as of the time of Executive’s employment termination (as may be amended by the Company from time to time in the ordinary course), for twenty-four (24) months following such termination on the same basis as active employees, which such twenty-four month period shall run concurrently with the COBRA period; provided, however, that (x) the Company may instead, in its discretion, provide substantially similar benefits or payment outside of the Company’s benefit plans if the Company reasonably determines that providing such alternative benefits or payment is appropriate to minimize potential adverse tax consequences and penalties; and (y) the coverage provided hereunder shall become secondary to any coverage provided to Executive by a subsequent employer and to any Medicare coverage for which Executive becomes eligible, and it shall be the obligation of Executive to inform the Company if Executive becomes eligible for such subsequent coverage (the “Benefits Continuation”).

		
	(c)
	Termination By Reason of Death. If Executive’s employment is terminated by reason of Executive’s death, the Company shall pay Executive’s beneficiaries:

		
	(i)
	the Accrued Compensation;

		
	(ii)
	the Pro-Rata Bonus; and

		
	(iii)
	continued coverage for Executive’s dependents under any health, medical, dental, vision and basic life insurance (but not supplemental life insurance) program or policy in which Executive was eligible to participate as of the time of Executive’s employment termination (as may be amended or replaced by the Company from time to time in the ordinary course), for twenty-four (24) months following such termination on the same basis as the dependents of active employees, which such twenty-four-month period shall run concurrently with the COBRA period.

		
	(d)
	Termination by the Company Without Cause or by Executive for Good Reason. If Executive’s employment is terminated by the Company without Cause (other than on account of Executive’s Disability or death) or by Executive for Good Reason, then, subject to Section 14(e), the Company shall pay Executive:

		
	(i)
	the Accrued Compensation;

9

		
	(ii)
	the Pro-Rata Bonus;

		
	(iii)
	in lieu of any further Base Salary or other compensation and benefits for periods subsequent to the termination date, an amount in cash, which amount shall be payable in a lump sum payment within sixty (60) days following such termination (subject to Section 9(c)), equal to two (2) times the sum of (A) Executive’s Base Salary and (B) the Target Bonus; and

		
	(iv)
	the Benefits Continuation.

		
	(e)
	No Mitigation. Executive shall not be required to mitigate the amount of any payment provided for under this Section 8 by seeking other employment or otherwise and, except as provided in Section 8(b)(iii) and 8(d)(iv) above, no such payment shall be offset or reduced by the amount of any compensation or benefits provided to Executive in any subsequent employment. Further, the Company’s obligations to make any payments hereunder shall not be subject to or affected by any set-off, counterclaim or defense which the Company may have against Executive. 

		
	9.
	Certain Tax Treatment.  

		
	(a)
	Golden Parachute Tax. To the extent that the payments and benefits provided under this Agreement and benefits provided to, or for the benefit of, Executive under any other plan or agreement of the Company or any of its affiliates (such payments or benefits are collectively referred to as the “Payments”) would be subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Code or any successor provision thereto, or any similar tax imposed by state or local law, then Executive may, in Executive’s sole discretion (except as provided herein below) waive the right to receive any payments or distributions (or a portion thereof) by the Company in the nature of compensation to or for Executive’s benefit if and to the extent necessary so that no Payment to be made or benefit to be provided to Executive shall be subject to the Excise Tax (such reduced amount is hereinafter referred to as the “Limited Payment Amount”), but only if such reduction results in a higher after-tax payment to Executive after taking into account the Excise Tax and any additional taxes (including federal, state and local income taxes, employment, social security and Medicare taxes and all other applicable taxes) Executive would pay if such Payments were not reduced. If so waived, the Company shall reduce or eliminate the Payments, to effect the provisions of this Section 9 based upon Section 9(b) below. The determination of the amount of Payments that would be required to be reduced to 

10

the Limited Payment Amount pursuant to this Agreement and the amount of such Limited Payment Amount shall be made, at the Company’s expense, by a reputable accounting firm selected by Executive and reasonably acceptable to the Company (the “Accounting Firm”).  The Accounting Firm shall provide its determination (the “Determination”), together with detailed supporting calculations and documentation to the Company and Executive within ten (10) days of the date of termination, if applicable, or such other time as specified by mutual agreement of the Company and Executive, and if the Accounting Firm determines that no Excise Tax is payable by Executive with respect to the Payments, it shall furnish Executive with an opinion reasonably acceptable to Executive that no Excise Tax will be imposed with respect to any such Payments. The Determination shall be binding, final and conclusive upon the Company and Executive, absent manifest error. For purposes of making the calculations required by this Section 9(a), the Accounting Firm may make reasonable assumptions and approximations concerning applicable taxes and rates, and rely on reasonable, good faith interpretations concerning the application of the Code, and other applicable legal authority. In furtherance of the above, to the extent requested by Executive, the Company shall cooperate in good faith in valuing, and the Accounting Firm shall value, services to be provided by Executive (including Executive refraining from performing services pursuant to any covenant not to compete) before, on or after the date of the transaction which causes the application of Section 4999 of the Code, such that payments in respect of such services may be considered to be “reasonable compensation” within the meaning of the regulations under Section 4999 of the Code.     
		
	(b)
	Ordering of Reduction.  In the case of a reduction in the Payments pursuant to Section 9(a), the Payments will be reduced in the following order: (i) payments that are payable in cash that are valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a) will be reduced (if necessary, to zero), with amounts that are payable last reduced first; (ii) payments and benefits due in respect of any equity valued at full value under Treasury Regulation Section 1.280G-1, Q&A 24(a), with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) will next be reduced; (iii) payments that are payable in cash that are valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with amounts that are payable last reduced first, will next be reduced; (iv) payments and benefits due in respect of any equity valued at less than full value under Treasury Regulation Section 1.280G-1, Q&A 24, with the highest values reduced first (as such values are determined under Treasury Regulation Section 1.280G-1, Q&A 24) will next 

11

be reduced; and (v) all other non-cash benefits not otherwise described in clauses (ii) or (iv) will be next reduced pro-rata.
		
	(c)
	Section 409A. The parties intend for the payments and benefits under this Agreement to be exempt from Section 409A of the Code or, if not so exempt, to be paid or provided in a manner which complies with the requirements of such section, and intend that this Agreement shall be construed and administered in accordance with such intention. In the event the Company determines that a payment or benefit under this Agreement may not be in compliance with Section 409A of the Code, subject to Section 5(a) herein, the Company shall reasonably confer with Executive in order to modify or amend this Agreement to comply with Section 409A of the Code and to do so in a manner to best preserve the economic benefit of this Agreement.  Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, (i) no amounts shall be paid to Executive under Section 8 of this Agreement until Executive would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A of the Code; (ii) amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following Executive’s separation from service shall instead be paid on the first business day after the date that is six (6) months following Executive’s separation from service (or death, if earlier), with interest for any cash payments so delayed, from the date such cash amounts would otherwise have been paid at the short-term applicable federal rate, compounded semi-annually, as determined under Section 1274 of the Code for the month in which the payment would have been made but for the delay in payment required to avoid the imposition of an additional rate of tax on Executive; (iii) each amount to be paid or benefit to be provided under this Agreement shall be construed as a separately identified payment for purposes of Section 409A of the Code; (iv) any payments that are due within the “short term deferral period” as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise; and (v) amounts reimbursable to Executive under this Agreement shall be paid to Executive on or before the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement (and in-kind benefits provided to Executive) during any one (1) year may not affect amounts reimbursable or provided in any subsequent year.

		
	10.
	Records and Confidential Data.

12

		
	(a)
	Executive acknowledges that in connection with the performance of Executive’s duties during the Employment Term, the Company and its affiliates will make available to Executive, or Executive will develop and have access to, certain Confidential Information (as defined below) of the Company and its affiliates. Executive acknowledges and agrees that any and all Confidential Information learned or obtained by Executive during the course of Executive’s employment by the Company or otherwise, whether developed by Executive alone or in conjunction with others or otherwise, shall be and is the property of the Company and its affiliates.

		
	(b)
	During the Employment Term and thereafter, Confidential Information will be kept confidential by Executive, will not be used in any manner that is detrimental to the Company or its affiliates, will not be used other than in connection with Executive’s discharge of Executive’s duties hereunder, and will be safeguarded by Executive from unauthorized disclosure; provided, however, that Confidential Information may be disclosed by Executive (i) to the Company and its affiliates, or to any authorized agent or representative of any of them, (ii) in connection with performing Executive’s duties hereunder, (iii) without limiting Section 10(g) of this Agreement, when required to do so by law or requested by a court, governmental agency, legislative body, arbitrator or other person with apparent jurisdiction to order Executive to divulge, disclose or make accessible such information, provided that Executive, to the extent legally permitted, notifies the Company prior to such disclosure, (iv) in the course of any proceeding under Section 11 or 12 of this Agreement or Section 6 of the Release, subject to the prior entry of a confidentiality order, or (v) in confidence to an attorney or other professional advisor for the purpose of securing professional advice, so long as such attorney or advisor is subject to confidentiality restrictions no less restrictive than those applicable to Executive hereunder.

		
	(c)
	On Executive’s last day of employment with the Company, or at such earlier date as requested by the Company, (i) Executive will return to the Company all written Confidential Information that has been provided to, or prepared by, Executive; (ii) at the election of the Company, Executive will return to the Company or destroy all copies of any analyses, compilations, studies or other documents prepared by Executive or for Executive’s use containing or reflecting any Confidential Information; and (iii) Executive will return all Company property.  Executive shall deliver to the Company a document certifying Executive’s compliance with this Section 10(c).

13

		
	(d)
	For the purposes of this Agreement, “Confidential Information” shall mean all confidential and proprietary information of the Company and its affiliates, including:

		
	(i)
	trade secrets concerning the business and affairs of the Company and its affiliates, product specifications, data, know-how, formulae, compositions, processes, non-public patent applications, designs, sketches, photographs, graphs, drawings, samples, inventions and ideas, past, current, and planned research and development, current and planned manufacturing or distribution methods and processes, customer lists, current and anticipated customer requirements, price lists, market studies, business plans, computer software and programs (including object code and source code), computer software and database technologies, systems, structures, and architectures (and related formulae, compositions, processes, improvements, devices, know-how, inventions, discoveries, concepts, ideas, designs, methods and information); 

		
	(ii)
	information concerning the business and affairs of the Company and its affiliates (which includes unpublished financial statements, financial projections and budgets, unpublished and projected sales, capital spending budgets and plans, the names and backgrounds of key personnel, to the extent not publicly known, personnel training and techniques and materials) however documented; and

		
	(iii)
	notes, analysis, compilations, studies, summaries, and other material prepared by or for the Company or its affiliates containing or based, in whole or in part, on any information included in the foregoing. For purposes of this Agreement, Confidential Information shall not include and Executive’s obligations shall not extend to (A) information that is generally available to the public, (B) information obtained by Executive other than pursuant to or in connection with this employment, (C) information that is required to be disclosed by law or legal process, and (D) Executive’s rolodex and similar address books, including electronic address books, containing contact information.

		
	(e)
	Nothing herein or elsewhere shall preclude Executive from retaining and using (i) Executive’s personal papers and other materials of a personal nature, including photographs, contacts, correspondence, personal diaries, and personal files (so long as no such materials are covered by any Company hold order), (ii) 

14

documents relating to Executive’s personal entitlements and obligations, and (iii) information that is necessary for Executive’s personal tax purposes.
		
	(f)
	Pursuant to 18 U.S.C. § 1833(b), Executive understands that Executive will not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret of the Company or its affiliates that (i) is made (A) in confidence to a Federal, State, or local government official, either directly or indirectly, or to Executive’s attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  Executive understands that if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney and use the trade secret information in the court proceeding if Executive (x) files any document containing the trade secret under seal, and (y) does not disclose the trade secret, except pursuant to court order.  Nothing in this Agreement, or any other agreement that Executive has with the Company or its affiliates, is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. 

		
	(g)
	Notwithstanding anything set forth in this Agreement or any other agreement that Executive has with the Company or its affiliates to the contrary, Executive shall not be prohibited from reporting possible violations of federal or state law or regulation to any governmental agency or entity, legislative body, or any self-regulatory organization, or making other disclosures that are protected under the whistleblower provisions of federal or state law or regulation, nor is Executive required to notify the Company regarding any such reporting, disclosure or cooperation with the government.

		
	11.
	Covenant Not to Solicit, Not to Compete, Not to Disparage, to Cooperate in Litigation and Not to Cooperate with Non-Governmental Third Parties.

		
	(a)
	Covenant Not to Solicit. To protect the Confidential Information and other trade secrets of the Company and its affiliates as well as the goodwill and competitive business of the Company and its affiliates, Executive agrees, during the Employment Term and for a period of eighteen (18) months after Executive’s cessation of employment with the Company, not to solicit or participate in or assist in any way in the solicitation of any (i) customers or clients of the Company or its affiliates whom Executive first met or about whom learned Confidential Information through Executive’s employment with the Company and (ii) suppliers, employees or agents of the Company or its affiliates. For purposes of 

15

this covenant, “solicit” or “solicitation” means directly or indirectly influencing or attempting to influence any customers, clients, suppliers, employees or agents of the Company or its affiliates to cease doing business with, or to reduce the level of business with, the Company and its affiliates or, with respect to employees or exclusive agents, to become employed or engaged by any other person, partnership, firm, corporation or other entity. Executive agrees that the covenants contained in this Section 11(a) are reasonable and desirable to protect the Confidential Information of the Company and its affiliates; provided, that solicitation through general advertising not targeted at the Company’s or its affiliates’ employees or the provision of references shall not constitute a breach of such obligations.  
		
	(b)
	Covenant Not to Compete.

		
	(i)
	The Company and its affiliates are currently engaged in the business of branded and generic pharmaceuticals, with a focus on product development, clinical development, manufacturing, distribution and sales & marketing.  To protect the Confidential Information and other trade secrets of the Company and its affiliates as well as the goodwill and competitive business of the Company and its affiliates, Executive agrees, during the Employment Term and for a period of eighteen (18) months after Executive’s cessation of employment with the Company, that Executive will not, unless otherwise agreed to by the Chief Executive Officer of Endo (following approval by the Chairman of the Committee), anywhere in the world where, at the time of Executive’s termination of employment, the Company develops, manufactures, distributes, markets or sells its products, except in the course of Executive’s employment hereunder, directly or indirectly manage, operate, control, or participate in the management, operation, or control of, be employed by, associated with, or in any manner connected with, lend Executive’s name to, or render services or advice to, any third party or any business whose products or services compete in whole or in part with the products or services (both on the market and in development) material to the Company or any business unit on the termination date that constitutes more than 5% of the Company’s revenue on the termination date (a “Competing Business”); provided, however, that Executive may in any event (x) own up to a 5% passive ownership interest in any public or private entity and (y) serve on the board of any Competing Business that competes with the business of the Company and its affiliates as an immaterial part of its 

16

overall business, provided that Executive recuses himself or herself fully and completely from all matters relating to such business.  
		
	(ii)
	For purposes of this Section 11(b), any third party or any business whose products compete includes any entity with which the Company or its affiliates has had a product(s) licensing agreement during the Employment Term and any entity with which the Company or any of its affiliates is at the time of termination actively negotiating, and eventually concludes within twelve (12) months of the Employment Term, a commercial agreement. 

		
	(iii)
	Notwithstanding the foregoing, it shall not be a violation of this Section 11(b), for Executive to provide services to (or engage in activities involving): (A) a subsidiary, division or affiliate of a Competing Business where such subsidiary, division or affiliate is not engaged in a Competing Business and Executive does not provide services to, or have any responsibilities regarding, the Competing Business; (B) any entity that is, or is a general partner in, or manages or participates in managing, a private or public fund (including a hedge fund) or other investment vehicle, which is engaged in venture capital investments, leveraged buy-outs, investments in public or private companies, other forms of private or alternative equity transactions, or in public equity transactions, and that might make an investment which Executive could not make directly, provided that in connection therewith, Executive does not provide services to, engage in activities involved with, or have any responsibilities regarding a Competing Business; and (C) an affiliate of a Competing Business if Executive does not provide services, directly or indirectly, to such Competing Business and the basis of the affiliation is solely due to common ownership by a private equity or similar investment fund; provided, that, in each case, Executive shall remain bound by all other post-employment obligations under this Agreement including Executive’s obligations under Sections 10, 11(a), (c) and (d) herein; provided, further, that Executive’s provision of services to (or engagement in activities involving) any entity described in clauses (A) or (B) of this Section 11(b)(iii) shall be subject to the prior approval of the Board.  

		
	(c)
	Nondisparagement. Executive covenants that during and following the Employment Term, Executive will not disparage or encourage or induce others to disparage the Company or its affiliates, together with all of their respective past and present directors and officers, as well as their respective past and present 

17

managers, officers, shareholders, partners, employees, agents, attorneys, servants and customers and each of their predecessors, successors and assigns (collectively, the “Company Entities and Persons”); provided, that such limitation shall extend to past and present managers, officers, shareholders, partners, employees, agents, attorneys, servants and customers only in their capacities as such or in respect of their relationship with the Company and its affiliates. The Company shall instruct its officers and directors not to, during and following the Employment Term, make or issue any statement that disparages Executive to any third parties or otherwise encourage or induce others to disparage Executive. The term “disparage” includes, without limitation, comments or statements adversely affecting in any manner (i) the conduct of the business of the Company Entities and Persons or Executive, or (ii) the business reputation of the Company Entities and Persons or Executive. Nothing in this Agreement is intended to or shall prevent either party from providing, or limiting testimony in any judicial, administrative or legal process or otherwise as required by law, prevent either party from engaging in truthful testimony pursuant to any proceeding under this Section 11 or Section 12 below or Section 6 of the Release or prevent Executive from making statements in the course of doing Executive’s normal duties for the Company.
		
	(d)
	Cooperation in Any Investigations and Litigation; No Cooperation with Non-Governmental Third Parties. During the Employment Term and thereafter, Executive shall provide truthful information and otherwise assist and cooperate with the Company and its affiliates, and its counsel, (i) in connection with any investigation, inquiry, administrative, regulatory or judicial proceedings, or in connection with any dispute or claim of any kind that may be made against, by, or with respect to the Company, as reasonably requested by the Company (including Executive being available to the Company upon reasonable notice for interviews and factual investigations, appearing at the Company’s request to give testimony without requiring service of a subpoena or other legal process, volunteering to the Company all pertinent information and turning over to the Company all relevant documents which are in or may come into Executive’s possession), and (ii) in all matters concerning requests for information about the services or advice Executive provides or provided to the Company during Executive’s employment with Endo, its affiliates and their predecessors. Such cooperation shall be subject to Executive’s business and personal commitments and shall not require Executive to cooperate against Executive’s own legal interests or the legal interests of any future employer of Executive. Executive shall use the Company’s counsel for all matters in connection with this Section 11(d); provided, however, 

18

that if there exists an actual conflict of interest between Executive and the Company’s counsel, Executive may retain separate counsel reasonably acceptable to the Company. The existence of an actual conflict of interest, and whether such conflict may be waived, shall be determined pursuant to the rules of attorney professional conduct and applicable law. The Company agrees to promptly reimburse Executive for reasonable expenses reasonably incurred by Executive, in connection with Executive’s cooperation pursuant to this Section 11(d) (including travel expenses at the level of travel permitted by this Agreement and reasonable attorney fees in the event separate legal counsel for Executive is required due to a conflict of interest). Such reimbursements shall be made as soon as practicable, and in no event later than the calendar year following the year in which the expenses are incurred.  Executive also shall not support (financially or otherwise), counsel or assist any attorneys or their clients or any other non-governmental person in the presentation or prosecution of, encourage any non-governmental person to raise, or suggest or recommend to any non-governmental person that such person could or should raise, in each case, any disputes, differences, grievances, claims, charges, or complaints against the Company and/or its affiliates that (x) arises out of, or relates to, any period of time on or prior to Executive’s last day of employment with the Company or (y) involves any information Executive learned during Executive’s employment with the Company; provided, that, following the second anniversary of Executive’s termination of employment with the Company, such prohibition shall not extend to any such actions taken by Executive on behalf of (A) Executive’s then current employer, (B) any entity with respect to which Executive is then a member of the board of directors or managers (as applicable), or (C) any non-publicly traded entity with respect to which Executive is a 5% or more equity owner (or any affiliate of any such entities referenced in clauses (A), (B) or (C)). Executive agrees that, in the event Executive is subpoenaed by any person or entity (including any government agency) to give testimony (in a deposition, court proceeding or otherwise) which in any way relates to Executive’s employment by the Company, Executive will, to the extent not legally prohibited from doing so, give prompt notice of such request to the Chief Legal Officer of the Company so that the Company may contest the right of the requesting person or entity to such disclosure before making such disclosure. Nothing in this provision shall require Executive to violate Executive’s obligation to comply with valid legal process.
		
	(e)
	Blue Pencil. It is the intent and desire of Executive and the Company that the provisions of this Section 11 be enforced to the fullest extent permissible under the laws and public policies as applied in each jurisdiction in which enforcement 

19

is sought. If any particular provision of this Section 11 shall be determined to be invalid or unenforceable, such covenant shall be amended, without any action on the part of either party hereto, to delete therefrom the portion so determined to be invalid or unenforceable, such deletion to apply only with respect to the operation of such covenant in the particular jurisdiction in which such adjudication is made.
		
	12.
	Remedies for Breach of Obligations under Sections 10 or 11 hereof. Executive acknowledges that the Company and its affiliates will suffer irreparable injury, not readily susceptible of valuation in monetary damages, if Executive breaches Executive’s obligations under Sections 10 or 11 hereof. Accordingly, Executive agrees that the Company and its affiliates will be entitled, in addition to any other available remedies, to obtain injunctive relief against any breach or prospective breach by Executive of Executive’s obligations under Sections 10 or 11 hereof in any Federal or state court sitting in the State of Delaware or, at the Company’s election, in any other state in which Executive maintains Executive’s principal residence or Executive’s principal place of business. Executive hereby submits to the non-exclusive jurisdiction of all those courts for the purposes of any actions or proceedings instituted by the Company or its affiliates to obtain that injunctive relief, and Executive agrees that process in any or all of those actions or proceedings may be served by registered mail, addressed to the last address provided by Executive to the Company, or in any other manner authorized by law.

		
	13.
	Representations and Warranties.

		
	(a)
	The Company represents and warrants that (i) it is fully authorized by action of the Board (and of any other person or body whose action is required) to enter into this Agreement and to perform its obligations under it, (ii) the execution, delivery and performance of this Agreement by it does not violate any applicable law, regulation, order, judgment or decree or any agreement, arrangement, plan or corporate governance document (x) to which it is a party or (y) by which it is bound, and (iii) upon the execution and delivery of this Agreement by the parties, this Agreement shall be its valid and binding obligation, enforceable against it in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally.

		
	(b)
	Executive represents and warrants to the Company that the execution and delivery by Executive of this Agreement do not, and the performance by Executive of Executive’s obligations hereunder will not, with or without the giving of notice or the passage of time, or both: (a) violate any judgment, writ, injunction, or order of any court, arbitrator, or governmental agency applicable to Executive; or (b) 

20

conflict with, result in the breach of any provisions of or the termination of, or constitute a default under, any agreement to which Executive is a party or by which Executive is or may be bound.
		
	14.
	Miscellaneous.

		
	(a)
	Successors and Assigns.

		
	(i)
	This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and permitted assigns and the Company shall require any successor or permitted assign to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment had taken place. The Company may not assign or delegate any rights or obligations hereunder except to any of its affiliates, or to a successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company. The term the “Company” as used herein shall include a corporation or other entity acquiring all or substantially all the assets and business of the Company (including this Agreement) whether by operation of law or otherwise.

		
	(ii)
	Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by Executive, his or her beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal personal representatives.

		
	(b)
	Notice. For the purposes of this Agreement, notices and all other communications provided for in the Agreement (including the Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or sent by Certified mail, return receipt requested, postage prepaid, addressed to the respective addresses last given by each party to the other; provided, that all notices to the Company shall be directed to the attention of the Chief Legal Officer of the Company. All notices and communications shall be deemed to have been received on the date of delivery thereof or on the third business day after the mailing thereof, except that notice of change of address shall be effective only upon receipt.

		
	(c)
	Indemnification. Executive shall be indemnified by the Company as, and to the extent, to the maximum extent permitted by applicable law as provided in the 

21

memorandum and articles of association of Endo. In addition, the Company agrees to continue and maintain, at the Company’s sole expense, a directors’ and officers’ liability insurance policy covering Executive both during and the Employment Term and while the potential liability exists (but in no event longer than six (6) years, if such limitation applies to all other individuals covered by such policy) after the Employment Term, that is no less favorable than the policy covering Board members and other executive officers of the Company from time to time. The obligations under this paragraph shall survive any termination of the Employment Term.
		
	(d)
	Withholding. The Company shall be entitled to withhold the amount, if any, of all taxes of any applicable jurisdiction required to be withheld by an employer with respect to any amount paid to Executive hereunder. The Company, in its sole and absolute discretion, shall make all determinations as to whether it is obligated to withhold any taxes hereunder and the amount thereof.

		
	(e)
	Release of Claims. The termination benefits described in Section 8(d)(ii) – (iv) of this Agreement shall be conditioned on Executive delivering to the Company, a signed release of claims in the form of Exhibit A hereto within forty-five (45) days or twenty-one (21) days, as may be applicable under the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection Act, following Executive’s termination date, and not revoking Executive’s consent to such release of claims within seven (7) days of such execution; provided, however, that Executive shall not be required to release any rights Executive may have to be indemnified by, or be covered under any directors’ and officers’ liability insurance of, the Company under Section 14(c) of this Agreement. 

		
	(f)
	Resignation as Officer or Director. Upon a termination of employment for any reason, Executive shall, resign each position (if any) that Executive then holds as an officer or director of the Company and any of its affiliates. Executive’s execution of this Agreement shall be deemed the grant by Executive to the officers of the Company of a limited power of attorney to sign in Executive’s name and on Executive’s behalf any such documentation as may be required to be executed solely for the limited purposes of effectuating such resignations.

		
	(g)
	Executive Acknowledgement. Executive acknowledges the Common Stock Ownership Guidelines for Non-Employee Directors and Executive Management of Endo International plc, as may be amended from time to time, and Endo’s compensation recoupment policy, as may be amended from time to time.

22

		
	(h)
	Modification. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreement or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement.

		
	(i)
	Effect of Other Law. Anything herein to the contrary notwithstanding, the terms of this Agreement shall be modified to the extent required to meet the provisions of the Sarbanes-Oxley Act of 2002, Section 409A of the Code, or other federal law applicable to the employment arrangements between Executive and the Company. Any delay in providing benefits or payments, any failure to provide a benefit or payment, or any repayment of compensation that is required under the preceding sentence shall not in and of itself constitute a breach of this Agreement; provided, however, that the Company shall provide economically equivalent payments or benefits to Executive to the extent permitted by law.

		
	(j)
	Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts executed in and to be performed entirely within such State, without giving effect to the conflict of law principles thereof.  Any dispute hereunder may be adjudicated in any Federal or state court sitting in the State of Delaware or, at the Company’s election, in any other state in which Executive maintains Executive’s principal residence or Executive’s principal place of business. 

		
	(k)
	No Conflicts. (A) Executive represents and warrants to the Company that Executive is not a party to or otherwise bound by any agreement or arrangement (including any license, covenant, or commitment of any nature), or subject to any judgment, decree, or order of any court or administrative agency, that would conflict with or will be in conflict with or in any way preclude, limit or inhibit Executive’s ability to execute this Agreement or to carry out Executive’s duties and responsibilities hereunder. (B) The Company represents and warrants to Executive that the Company is not a party to or otherwise bound by any agreement or arrangement (including any license, covenant, or commitment of any nature), or subject to any judgment, decree, or order of any court or administrative agency, that would conflict with or will be in conflict with or in 

23

any way preclude, limit or inhibit the Company’s ability to execute this Agreement or to carry out the Company’s duties and responsibilities hereunder.
		
	(l)
	Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof.

		
	(m)
	Inconsistencies. In the event of any inconsistency between any provision of this Agreement and any provision of any employee handbook, personnel manual, program, policy, or arrangement of the Company or its affiliates (including any provisions relating to notice requirements and post-employment restrictions), the provisions of this Agreement shall control, unless Executive otherwise agrees in a writing that expressly refers to the provision of this Agreement whose control Executive is waiving.

		
	(n)
	Beneficiaries/References. In the event of Executive’s death or a judicial determination of Executive’s incompetence, references in this Agreement to Executive shall be deemed, where appropriate, to refer to Executive’s beneficiary, estate or other legal representative.

		
	(o)
	Survival. Except as otherwise set forth in this Agreement, the respective rights and obligations of the parties hereunder shall survive the Employment Term and any termination of Executive’s employment.  Without limiting the generality of the forgoing, the provisions of Section 8, 10, 11, and 12 shall survive the termination of the Employment Term.

		
	(p)
	Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto and, as of the Effective Date, supersedes all prior agreements, understandings and arrangements, oral or written, between the parties hereto with respect to the subject matter hereof, other than the contribution retention bonus arrangement dated August 1, 2019 (the “Letter Agreement”), which shall remain in effect in accordance with its terms.

		
	(q)
	Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

		
	15.
	Certain Rules of Construction.

24

		
	(a)
	The headings and subheadings set forth in this Agreement are inserted for the convenience of reference only and are to be ignored in any construction of the terms set forth herein.

		
	(b)
	Wherever applicable, the neuter, feminine or masculine pronoun as used herein shall also include the masculine or feminine, as the case may be.

		
	(c)
	The term “including” is not limiting and means “including without limitation.”

		
	(d)
	References in this Agreement to any statute or statutory provisions include a reference to such statute or statutory provisions as from time to time amended, modified, reenacted, extended, consolidated or replaced (whether before or after the date of this Agreement) and to any subordinate legislation made from time to time under such statute or statutory provision.

		
	(e)
	References to “writing” or “written” include any non-transient means of representing or copying words legibly, including by facsimile or electronic mail.

		
	(f)
	References to “$” are to United States Dollars.

25

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer and Executive has executed this Agreement as of the day and year first above written.

	
		
	ENDO HEALTH SOLUTIONS INC.

	 
	 

	By:
	/S/ Paul V. Campanelli

	 
	 

	Name:
	Paul V. Campanelli

	 
	 

	Title:
	President and Chief Executive Officer

	
		
	EXECUTIVE

	 
	 

	By:
	/S/ Terrance J. Coughlin

	 
	 

	Name:
	Terrance J. Coughlin

	 
	 

	Title:
	Executive Vice President and Chief Operating Officer

SIGNATURE PAGE

EXHIBIT A 

FORM OF RELEASE AGREEMENT

THIS RELEASE AGREEMENT (the “Release”) is made by and between Terrance J. Coughlin (“Executive”) and Endo Health Solutions, Inc. (the “Company”).

		
	1.
	FOR AND IN CONSIDERATION of the payments and benefits provided in Section 8(d) (excluding clause (i)) of the Employment Agreement between Executive and the Company dated as of December 9, 2019, (the “Employment Agreement”), Executive, for Executive, his or her successors and assigns, executors and administrators, now and forever hereby releases and discharges the Company, together with all of its past and present parents, subsidiaries, and affiliates, together with each of their officers, directors, stockholders, partners, employees, agents, representatives and attorneys, and each of their subsidiaries, affiliates, estates, predecessors, successors, and assigns (hereinafter collectively referred to as the “Releasees”) from any and all rights, claims, charges, actions, causes of action, complaints, sums of money, suits, debts, covenants, contracts, agreements, promises, obligations, damages, demands or liabilities of every kind whatsoever, in law or in equity, whether known or unknown, suspected or unsuspected, which Executive or Executive’s executors, administrators, successors or assigns ever had, now has or may hereafter claim to have by reason of any matter, cause or thing whatsoever; arising from the beginning of time up to the date Executive executes the Release: (i) relating in any way to Executive’s employment relationship with the Company or any of the Releasees, or the termination of Executive’s employment relationship with the Company or any of the Releasees; (ii) arising under or relating to the Employment Agreement; (iii) arising under any federal, local or state statute or regulation, including, without limitation, the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, the Equal Pay Act, Sections 1981 through 1988 of Title 42 of the United States Code, the Immigration Reform and Control Act, the Workers Adjustment and Retraining Notification Act, the Occupational Safety and Health Act, the Family and Medical Leave Act, the Fair Labor Standards Act of 1938, Executive Order 11246, the Pennsylvania Human Relations Act, the Pennsylvania Whistleblower Law, the New York State Human Rights Law, the New York Labor Law and the New York Civil Rights Law and/or the applicable state or local  law or ordinance against discrimination, each as amended; (iv) relating to wrongful employment termination or breach of contract; or (v) arising under or relating to any policy, agreement, understanding or promise, written or oral, formal or informal, between the Company and any of the Releasees and Executive; provided, however, that notwithstanding the foregoing, nothing contained in the Release shall in any way diminish or impair: (a) any rights Executive may have, from and after the date the Release is executed; (b) any rights to indemnification that may exist from time to time under the Company’s certificate of 

A-1

incorporation or bylaws, or state law or any other indemnification agreement entered into between Executive and the Company; (c) any rights Executive may have under any applicable general liability and/or directors and officers insurance policy maintained by the Company; (d) any rights Executive may have to payments and benefits under Sections 8(a)(i) and (iii) of the Employment Agreement; (e) the right to receive the following payments and benefits: [SPECIFIC LIST OF COMPENSATION AND BENEFITS PAYABLE UNDER SECTIONS 8(a)(ii), (iv), (v) AND (vi) OF THE EMPLOYMENT AGREEMENT TO BE INCLUDED]; (f) Executive’s ability to bring appropriate proceedings to enforce the Release; and (g) any rights or claims Executive may have that cannot be waived under applicable law (collectively, the “Excluded Claims”). Executive further acknowledges and agrees that, except with respect to Excluded Claims, the Company and the Releasees have fully satisfied any and all obligations whatsoever owed to Executive arising out of Executive’s employment with the Company or any of the Releasees, and that no further payments or benefits are owed to Executive by the Company or any of the Releasees.

		
	2.
	Executive acknowledges and agrees that Executive has been advised to consult with an attorney of Executive’s choosing prior to signing the Release. Executive understands and agrees that Executive has the right and has been given the opportunity to review the Release with an attorney of Executive’s choice should Executive so desire. Executive also agrees that Executive has entered into the Release freely and voluntarily. Executive further acknowledges and agrees that Executive has had at least [twenty-one (21)][forty-five (45)] calendar days to consider the Release, although Executive may sign it sooner if Executive wishes, but in any case, not prior to the termination date. In addition, once Executive has signed the Release, Executive shall have seven (7) additional days from the date of execution to revoke Executive’s consent and may do so by writing to:  ___________.  The Release shall not be effective, and no payments shall be due hereunder, earlier than the eighth (8th) day after Executive shall have executed the Release and returned it to the Company, assuming that Executive had not revoked Executive’s consent to the Release prior to such date.

		
	3.
	It is understood and agreed by Executive that any payment made to Executive is not to be construed as an admission of any liability whatsoever on the part of the Company or any of the other Releasees, by whom liability is expressly denied. 

		
	4.
	The Release is executed by Executive voluntarily and is not based upon any representations or statements of any kind made by the Company or any of the other Releasees as to the merits, legal liabilities or value of Executive’s claims. Executive further acknowledges that Executive has had a full and reasonable opportunity to consider the Release and that Executive has not been pressured or in any way coerced into executing the Release. 

		
	5.
	The exclusive venue for any disputes arising hereunder shall be the state or federal courts located in the State of Delaware or, at the Company’s election, in any other state in which Executive maintains Executive’s principal residence or Executive’s principal place of 

A-2

business, and each of the parties hereto irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. Each of the parties hereto also agrees that any final and unappealable judgment against a party hereto in connection with any action, suit or other proceeding may be enforced in any court of competent jurisdiction, either within or outside of the United States.  A certified or exemplified copy of such award or judgment shall be conclusive evidence of the fact and amount of such award or judgment. 
  
		
	6.
	The Release and the rights and obligations of the parties hereto shall be governed and construed in accordance with the laws of the State of Delaware. If any provision hereof is unenforceable or is held to be unenforceable, such provision shall be fully severable, and this document and its terms shall be construed and enforced as if such unenforceable provision had never comprised a part hereof, the remaining provisions hereof shall remain in full force and effect, and the court construing the provisions shall add as a part hereof a provision as similar in terms and effect to such unenforceable provision as may be enforceable, in lieu of the unenforceable provision. 

		
	7.
	The Release shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

A-3

IN WITNESS WHEREOF, Executive and the Company have executed the Release as of the date and year provided below.
IMPORTANT NOTICE:  BY SIGNING BELOW YOU RELEASE AND GIVE UP ANY AND ALL LEGAL CLAIMS, KNOWN AND UNKNOWN, THAT YOU MAY HAVE AGAINST THE COMPANY AND RELATED PARTIES.

	
					
	ENDO HEALTH SOLUTIONS INC
	 
	Terrance J. Coughlin

	 
	 
	 
	 
	 

	Dated:
	 
	 
	Dated:

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