Document:

EX-4.2

 Exhibit 4.2 
 EXECUTION VERSION 
  
  

 
 PERRIGO COMPANY 

AND 

WELLS FARGO BANK, NATIONAL ASSOCIATION, TRUSTEE 

 
  

2.950% Notes due 2023 
 FIRST SUPPLEMENTAL INDENTURE 
  

 
 Dated as of
May 16, 2013 
 to 
 Indenture Dated as of May 16, 2013 
 Debt Securities 

 
  

 
  

 

 FIRST SUPPLEMENTAL INDENTURE, dated as of May 16, 2013, (this “Supplemental
Indenture”), by and between Perrigo Company, a Michigan corporation (the “Company”) and Wells Fargo Bank, National Association, a national banking association (the “Trustee”). 

Recitals of The Company 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture (the “Base Indenture”), dated as of May 16, 2013 (as supplemented by this Supplemental Indenture, the
“Indenture”), providing for the issuance from time to time of one or more series of Securities; 
 WHEREAS,
Section 9.1(e) of the Base Indenture provides that the Company and the Trustee may, without the consent of any Holders of Securities, enter into an indenture supplemental to the Base Indenture to establish the form or terms of Securities of any
series as permitted by Sections 2.1 and 3.1 of the Base Indenture; 
 WHEREAS, the Company has duly authorized the
execution and delivery of this Supplemental Indenture to establish the form and provide for the issuance of a series of notes designated as its 2.950% Notes due 2023 (the “Initial 2023 Notes”), in an initial aggregate principal amount of
$600,000,000 and any Add On 2023 Notes (as defined below, and together with the Initial 2023 Notes, the “2023 Notes”); and 
 WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture; all the conditions and requirements necessary to make this Supplemental Indenture, when duly executed
and delivered, a valid and binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled; and the execution and delivery of this Supplemental Indenture have been duly authorized in all
respects. 
 NOW THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: For and in consideration of the premises and the issuance of
the series of Securities provided for herein, the Company and the Trustee mutually covenant and agree as follows: 
 ARTICLE 1

 RELATION TO THE BASE INDENTURE; DEFINITIONS; RULES OF 

CONSTRUCTION 
 Section 1.1 Relation to the Base Indenture. This Supplemental Indenture constitutes an integral part of the Base Indenture. 

Section 1.2 Definitions. For all purposes of this Supplemental Indenture, the following terms shall have the respective
meanings set forth in this Section 1.2. 
 “2023 Notes” has the meaning set forth in the recitals hereto.

 “Add On 2023 Notes” has the meaning set forth in Section 2.2. 

“Adjusted Interest Payment Date” has the meaning set forth in Section 2.3(c). 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Affiliate Transferee” has the meaning set forth in the definition of “Change of Control.” 

“Applicable Procedures” means, with respect to any transfer or transaction involving a Global Security or beneficial
interest therein, the rules and procedures of the Depositary for such Security to the extent applicable to such transaction and as in effect at the time of such transfer or transaction. 

“Base Indenture” has the meaning set forth in the recitals hereto. 

  
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 “Certificated Security” means a Security registered in the name of the
Holder thereof and issued in accordance with Section 2.4 hereof, substantially in the form of the Security attached hereto as Exhibit A and that does not bear the Global Security Legend. 

“Change of Control” means the occurrence of any of the following: (1) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company or one of its Subsidiaries, becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s (or its Affiliate Transferee’s) Voting Stock or other Voting Stock into which the Company’s (or
its Affiliate Transferee’s) Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (2) the direct or indirect sale, transfer, conveyance or other disposition (other than by
way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s (or its Affiliate Transferee’s) assets and the assets of the Company’s (or its Affiliate Transferee’s)
subsidiaries, taken as a whole, to one or more Persons, other than the Company or one of its (or its Affiliate Transferee’s) Subsidiaries; or (3) the first day on which a majority of the members of the Company’s (or its Affiliate
Transferee’s) Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction referenced in clause (1) of this definition will not be deemed to be a Change of Control if (i) the Company becomes a direct
or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s
Voting Stock immediately prior to that transaction or (B) immediately following that transaction no “person” (as that term is used in Section 13(d)(3) of the Exchange Act) (other than a holding company satisfying the requirements
of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. Notwithstanding the foregoing, a transaction referenced in clause (2) of this definition will not be deemed a
Change of Control if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company, (ii) the transferee of all or substantially all of the Company’s assets and the assets of the Company’s Subsidiaries,
taken as a whole, is also a direct or indirect wholly-owned subsidiary of such holding company (such transferee, the Company’s “Affiliate Transferee”), (iii) such holding company provides a full and unconditional guarantee of the
2023 Notes and (iv)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that
transaction or (B) immediately following that transaction no “person” (as that term is used in Section 13(d)(3) of the Exchange Act) (other than a holding company satisfying the requirements of this sentence) is the beneficial
owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. 
 “Change of Control
Offer” has the meaning set forth in Section 2.5. 
 “Change of Control Payment” has the meaning
set forth in Section 2.5. 
 “Change of Control Payment Date” has the meaning set forth in
Section 2.5. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and
a Rating Event. 
 “Company” has the meaning set forth in the introductory paragraph hereof. 

“Comparable Treasury Issue” means the U.S. Treasury security selected by the Independent Investment Banker as having an
actual or interpolated maturity comparable to the remaining term of the 2023 Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the 2023 Notes. 
 “Comparable Treasury Price”
means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Company is
provided fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 
 “Continuing Director” means, as of any date of determination, any member of the Company’s Board of Directors who (1) was a member of such Board of Directors on the date hereof
or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment
(either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director). 

  
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 “Global Security” has the meaning set forth in Section 2.4(a).

 “Global Security Legend” means the legend set forth in Section 2.4(g), which is to be placed on all
Global Securities issued under the Indenture. 
 “Indenture” has the meaning set forth in the recitals hereto.

 “Initial 2023 Notes” has the meaning set forth in the recitals hereto. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Security through a Participant.

 “Interest Payment Date” has the meaning set forth in Section 2.3(c). 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or
the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement rating agency or rating agencies. 
 “Maturity Date” has the meaning specified in Section 2.3(b). 

“Moody’s” means Moody’s Investors Service, Inc., and any successor to its ratings agency business. 

“Participant” means a member of, or a participant in, the Depositary. 

“Paying Agent” means any Person (including the Company) authorized by the Company to pay the principal of, premium, if
any, or interest on, any Securities on behalf of the Company. 
 “Primary Treasury Dealer” has the meaning set
forth in the definition of “Reference Treasury Dealer.” 
 “Rating Agencies” means (1) each of
Moody’s and S&P, and (2) if either Moody’s or S&P ceases to rate the 2023 Notes or fails to make a rating of the 2023 Notes publicly available for reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a Board Resolution) as a replacement agency for Moody’s or S&P, or both of them, as the case
may be. 
 “Rating Event” means the rating on the 2023 Notes is lowered by each of the Rating Agencies and the
2023 Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the 2023 Notes is under publicly announced consideration for a
possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of the Company’s intention to effect a Change of Control, provided, however, that a
Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Rating Event for purposes of the definition of Change of
Control Triggering Event) if each Rating Agency making the reduction in rating to which this definition would otherwise apply does not announce or publicly confirm or inform the Trustee in writing at the Company’s or its request that the
reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the
Rating Event). 
 “Reference Treasury Dealer” means each of Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. LLC and a Primary Treasury Dealer selected by Wells Fargo Securities, LLC and their respective successors and, at the Company’s option, additional Primary Treasury Dealers selected by the Company;
provided, however, that if any of the foregoing ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company shall substitute another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the
third Business Day preceding such Redemption Date. 

  
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 “S&P” means Standard & Poor’s Rating Services, a division
of The McGraw-Hill Companies, Inc., and any successor to its ratings agency business. 
 “Supplemental
Indenture” has the meaning set forth in the introductory paragraph hereof. 
 “Trustee” has the
meaning set forth in the introductory paragraph hereof. 
 “Voting Stock” means, with respect to any specified
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person.

 Section 1.3 Rules of Construction. For all purposes of this Supplemental Indenture, except as expressly provided
or unless the context otherwise requires: 
 (a) capitalized terms used herein without definition shall have the meanings
specified in the Base Indenture; 
 (b) all references herein to Articles and Sections, unless otherwise specified, refer to the
corresponding Articles and Sections of this Supplemental Indenture; 
 (c) the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; and 
 (d) in the event of a conflict with the definition of terms in the Base Indenture, the definitions in this Supplemental Indenture shall control. 

ARTICLE 2 

THE NOTES 

Section 2.1 Title of the Notes. There is hereby established by this Supplemental Indenture a series of Securities under the
Indenture, known and designated as the “2.950% Notes due 2023.” 
 Section 2.2 Aggregate Principal Amount.

 (a) The aggregate principal amount of the 2023 Notes that may be initially authenticated and delivered under the Indenture
shall be $600,000,000. The Company may, from time to time, without the consent of Holders of the Initial 2023 Notes, issue notes (“Add On 2023 Notes”) under the Indenture in addition, and with identical terms, to the $600,000,000 aggregate
principal amount of Initial 2023 Notes (other than the issue date, issue price, amount of, payment of interest accruing prior to the issue date of such Add On 2023 Notes or, if applicable, the first payment of interest following the issue date of
such Add On 2023 Notes). The aggregate principal amount of the Add On 2023 Notes shall be unlimited. Any such Add On 2023 Notes and the Initial 2023 Notes will be treated as a single series for purposes of the Indenture and will have the same CUSIP
number unless such Add On 2023 Notes are not fungible with the Initial 2023 Notes for U.S. federal income tax purposes. 

Section 2.3 Terms of the Notes. 
 (a) The Depository Trust Company is hereby designated as the Depositary for the 2023 Notes, which shall be issued in the form of Global Securities as further provided in Section 2.4. 

(b) The principal of the 2023 Notes is payable May 15, 2023 (the “Maturity Date”). 

(c) The 2023 Notes shall bear interest at an annual rate of 2.950% from May 16, 2013, or from the most recent date on which interest
has been paid or provided for, payable semi-annually on May 15 and November 15 of each year commencing November 15, 2013 (each such date, an “Interest Payment Date”), until the principal of the 2023 Notes is paid or made
available for payment. The interest so payable will be paid to the person in whose name the 2023 Notes are registered at the close of business on the preceding May 1 or November 1, respectively. If the applicable Interest Payment Date is
not a Business Day, the interest will be paid on the next following Business Day (such day, the “Adjusted Interest Payment Date”) as if it were made on the applicable Interest Payment Date and no interest shall accrue on the amount so
payable for the period from and after such Interest Payment Date to the corresponding Adjusted Interest Payment Date. 

  
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 (d) Payment of the principal of (and premium, if any, on) and any interest and Additional
Amounts, if any, on the 2023 Notes will be made at the Corporate Trust Office, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. Wells Fargo Bank, National Association is
appointed as the Trustee, Paying Agent and Security Registrar for the 2023 Notes to perform the functions set forth in the Indenture to be performed by such offices. 
 (e) The 2023 Notes are redeemable at the option of the Company, in whole or in part at any time and from time to time, from the date hereof until February 15, 2023 (three months prior to the Maturity
Date), at a Redemption Price equal to the greater of: 
  

	 	•	 	 100% of the principal amount of the 2023 Notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date; and

  

	 	•	 	 the sum of the remaining scheduled payments of principal of and interest on the 2023 Notes to be redeemed (not including any portion of the payment of
interest accrued as of the Redemption Date), discounted to their present value as of the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 20 basis points, plus
accrued and unpaid interest on the principal amount to be redeemed to, but excluding, the Redemption Date. 

(f) The 2023 Notes are redeemable at the option of the Company, on or after February 15, 2023 (three months prior to the Maturity
Date) in whole at any time or in part from time to time, at a Redemption Price equal to 100% of the aggregate principal amount of the 2023 Notes being redeemed plus, in each case, accrued and unpaid interest, if any, to, but excluding, the
Redemption Date. 
 (g) The 2023 Notes are redeemable subject to the terms and conditions set forth in Section 11.8 of the
Base Indenture. 
 (h) The 2023 Notes are not entitled to any mandatory redemption or sinking fund payments. 

(i) The 2023 Notes shall be issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

(j) The entire principal amount of the 2023 Notes shall be payable upon the acceleration of the Maturity thereof pursuant to
Section 5.2 of the Base Indenture. 
 (k) The 2023 Notes shall have such other terms and provisions as are provided in the
form thereof attached as Exhibit A hereto, which terms and provisions are hereby expressly made a part of the Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery of this Supplemental Indenture
expressly agree to such terms and provisions and to be bound thereby. Except as otherwise expressly permitted by the Indenture, all 2023 Notes shall be identical in all respects. Notwithstanding any differences among them, all 2023 Notes issued
under the Indenture, including any 2023 Notes issued after the date hereof pursuant to and in accordance with the terms hereof, shall vote and consent together on all matters as one class. 

(l) The Company shall be required to offer to purchase, in accordance with Section 2.5 hereof, the 2023 Notes if a Change of Control
Triggering Event has occurred. 
 Section 2.4 Book Entry Provisions; Transfer and Exchange. 

(a) The 2023 Notes shall be issued initially in the form of one or more permanent global notes (“Global Securities”). Each
Global Security initially shall (i) be registered in the name of the Depositary for such Global Security or the nominee of such Depositary, (ii) be deposited with, or on behalf of, the Depositary or with the Trustee as custodian for such
Depositary, (iii) bear the Global Security Legend and (iv) be dated the date of its authentication. Except as provided in Section 2.4(b), owners of beneficial interests in Global Securities will not be entitled to receive physical
delivery of certificated 2023 Notes. 

  
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 Participants shall have no rights under the Indenture with respect to any Global Security
held on their behalf by the Depositary, or the Trustee as its custodian, or under such Global Security, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global
Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or shall impair, as between the Depositary and its Participants, the operation of customary practices governing the exercise of the rights of a Holder of any Security. 

(b) Notwithstanding any other provision in the Indenture, no Global Security may be exchanged in whole or in part for Securities
registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (i) such Depositary (A) has notified the
Company that it is unwilling or unable to continue as Depositary for such Global Security or (B) has ceased to be a clearing agency registered as such under the Exchange Act, and in either case of (A) or (B) the Company fails to
appoint a successor Depositary within 90 calendar days, (ii) the Company, at its option, executes and delivers to the Trustee a Company Order stating that it elects to cause the issuance of the Securities in certificated form and that all
Global Securities shall be exchanged in whole for Securities that are not Global Securities (in which case, such exchange shall be effected by the Trustee) or (iii) there shall have occurred and be continuing an Event of Default with respect to
the 2023 Notes that has not been cured or waived, and the Depositary has requested certificated forms of Securities be issued. In all cases, Certificated Securities delivered in exchange for any Global Security or beneficial interests in Global
Securities will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary (in accordance with its customary procedures). Global Securities also may be exchanged or replaced, in whole or in
part, as provided in Sections 3.4 and 3.6 of the Base Indenture. Every Security authenticated and delivered in exchange for, or in lieu of, a Global Security or any portion thereof, pursuant to this Section 2.4 or Sections 3.4 and 3.6
of the Base Indenture, shall be authenticated and delivered in the form of, and shall be, a Global Security. 
 (c) Transfer
and Exchange of Beneficial Interests in Global Securities. 
 The transfer and exchange of beneficial interests in the
Global Securities shall be effected through the Depositary, in accordance with the provisions of the Indenture and the Applicable Procedures. To the extent that there is any conflict between the Applicable Procedures and the terms of the Indenture,
the Applicable Procedures will control. Transfers of beneficial interests in the Global Securities also shall require compliance with either subparagraph (i) or (ii) below: 

(i) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Global Security may
be transferred to Persons who take delivery thereof in the form of a beneficial interest in a Global Security. No written orders or instructions shall be required to be delivered to the Security Registrar to effect the transfers described in this
Section 2.4(c)(i). 
 (ii) All Other Transfers and Exchanges of Beneficial Interests in Global
Securities. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.4(c)(i) above, the transferor of such beneficial interest must deliver to the Security Registrar either (A) (1) a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Security of the same
series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such
increase or (B) (1) if permitted by Section 2.4(b), a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a
Certificated Security of the same series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Security Registrar containing information regarding the Person in whose
name such Certificated Security shall be registered to effect the transfer or exchange referred to in (1) above. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in the
Indenture and the 2023 Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security pursuant to Section 2.4(h) hereof. 

  
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 (d) Transfer or Exchange of Beneficial Interests in Global Securities for Certificated
Securities. Subject to Section 2.4(b) hereof, if any holder of a beneficial interest in a Global Security proposes to exchange such beneficial interest for a Certificated Security or to transfer such beneficial interest to a Person who
takes delivery thereof in the form of a Certificated Security, then, upon satisfaction of the conditions set forth in Section 2.4(c)(ii) hereof, the Trustee shall cause the aggregate principal amount of the applicable Global Security to be
reduced accordingly pursuant to Section 2.4(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Certificated Security in the appropriate principal amount. Any
Certificated Security issued in exchange for a beneficial interest pursuant to this Section 2.4(d) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall
instruct the Security Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Certificated Securities to the Persons in whose names such 2023 Notes are so registered. 

(e) Transfer and Exchange of Certificated Securities for Beneficial Interests in Global Securities. A Holder of a Certificated
Security may exchange such Certificated Security for a beneficial interest in a Global Security or transfer such Certificated Security to a Person who takes delivery thereof in the form of a beneficial interest in a Global Security at any time. Upon
receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Certificated Security and increase or cause to be increased the aggregate principal amount of one of the Global Securities. If any such exchange or
transfer from a Certificated Security to a beneficial interest is effected pursuant to this Section 2.4(e) at a time when a Global Security has not yet been issued, the Company shall execute and, upon receipt of a Company Order in accordance
with Section 3.3 of the Base Indenture, the Trustee shall authenticate one or more Global Securities in an aggregate principal amount equal to the principal amount of Certificated Securities so transferred. 

(f) Transfer and Exchange of Certificated Securities for Certificated Securities. Upon request by a Holder of Certificated
Securities and such Holder’s compliance with the provisions of this Section 2.4(f), the Security Registrar shall register the transfer or exchange of Certificated Securities. Prior to such registration of transfer or exchange, the
requesting Holder shall present or surrender to the Security Registrar the Certificated Securities duly endorsed or accompanied by a written instruction of transfer in a form satisfactory to the Security Registrar duly executed by such Holder or by
its attorney, duly authorized in writing. A Holder of Certificated Securities may transfer such Certificated Securities to a Person who takes delivery thereof in the form of a Certificated Security. Upon receipt of a request to register such a
transfer, the Security Registrar shall register the Certificated Security pursuant to the instructions from the Holder thereof. 

(g) Legends. The following legend shall appear on the face of all Global Securities issued under the Indenture unless specifically
stated otherwise in the applicable provisions of the Indenture: 
 “THIS SECURITY IS A GLOBAL SECURITY
WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE.

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT AND ANY SUCH CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

  
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 (h) If any Global Security is to be exchanged for Certificated Securities or canceled in
whole, it shall be surrendered by or on behalf of the Depositary or its nominee to the Trustee, as Security Registrar, for exchange or cancellation as provided in this Section 2.4 or Article 3 of the Base Indenture. If any Global Security
is to be exchanged for Certificated Securities or canceled in part, or if a Certificated Security is to be exchanged in whole or in part for a beneficial interest in any Global Security, then either (i) such Global Security shall be so
surrendered for exchange or cancellation as provided in this Section 2.4 or Article 3 of the Base Indenture or (ii) the principal amount thereof shall be reduced or increased by an amount equal to the portion thereof to be so
exchanged or canceled, or equal to the principal amount of such Certificated Security to be so exchanged for a beneficial interest therein, as the case may be, by means of an appropriate adjustment made on the records of the Trustee, as Security
Registrar, whereupon the Trustee, in accordance with the Applicable Procedures, shall instruct the Depositary or its authorized representative to make a corresponding adjustment to its records. Upon any such surrender or adjustment of a Global
Security, the Trustee shall, subject to this Section 2.4(h) and as otherwise provided in this Section 2.4 or Article 3 of the Base Indenture, authenticate and deliver any Securities issuable in exchange for such Global Security (or
any portion thereof) to or upon the order of, and registered in such names as may be directed by, the Depositary or its authorized representative. Upon the request of the Trustee in connection with the occurrence of any of the events specified in
Section 2.4(b), the Company shall promptly make available to the Trustee a reasonable supply of Certificated Securities. The Trustee shall be entitled to conclusively rely upon any order, direction or request of the Depositary or its authorized
representative which is given or made pursuant to this Section 2.4 or Article 3 of the Base Indenture if such order, direction or request is given or made in accordance with the Applicable Procedures. 

(i) Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or
any portion thereof, whether pursuant to this Section 2.4 or Article 3 of the Base Indenture or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name
of a Person other than the Depositary for such Global Security or a nominee thereof. 
 (j) The Depositary or its nominee, as
registered owner of a Global Security, shall be the Holder of such Global Security for all purposes under the Indenture and the Securities, and owners of beneficial interests in a Global Security shall hold such interests pursuant to the Applicable
Procedures. Accordingly, any such owner’s beneficial interest in a Global Security will be shown only on, and the transfer of such interest shall be effected only through, records maintained by the Depositary or its nominee or its Participants.

 (k) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under the Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Participants or beneficial owners of interests in any Global Security) other than to
require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, the Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof. 
 (l) None of the Company, the Trustee, any Paying Agent or any Security Registrar
will have any responsibility or liability for any aspect of Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any Depositary records
relating to such beneficial ownership interests, or for transfers of beneficial interests in the Securities or any transactions between the Depositary and beneficial owners. 
 Section 2.5 Change of Control. 
 (a) If a Change of Control Triggering
Event occurs with respect to the 2023 Notes of any series, unless the Company has exercised its option to redeem the 2023 Notes of such series (as described in Sections 2.3(e), 2.3(f) or 2.3(g)), the Company shall be required to make an
offer (the “Change of Control Offer”) to each Holder of the 2023 Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s 2023 Notes on the terms set forth below.
In the Change of Control Offer, the Company shall be required to offer payment in cash equal to 101% of the aggregate principal amount of 2023 Notes repurchased, plus accrued and unpaid interest, if any, on the 2023 Notes repurchased to, but not
including, the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the option of the Company, prior to any Change of Control, but after public announcement of the
transaction that constitutes or may constitute the Change of Control, the Company shall mail (or, to the extent permitted or required by applicable DTC procedures or regulations, send electronically) a notice to Holders of the 2023 Notes and the
Trustee describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase the 2023 Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than
60 days from the date such notice is mailed or sent (the “Change of Control Payment Date”). The notice shall, if mailed or sent prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on
the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. 
 (b) On the Change of
Control Payment Date, the Company shall, to the extent lawful: 

  
 8 

 (i) accept for payment all 2023 Notes or portions of 2023 Notes properly
tendered pursuant to the Change of Control Offer; 
 (ii) deposit with the Paying Agent an amount equal to the
Change of Control Payment in respect of all 2023 Notes or portions of 2023 Notes properly tendered; and 
 (iii)
deliver or cause to be delivered to the Trustee the 2023 Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of 2023 Notes or portions of 2023 Notes being repurchased. 

(c) The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a
third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party repurchases all 2023 Notes properly tendered and not withdrawn under its offer.

 (d) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws
and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the 2023 Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws
or regulations conflict with the provisions of this Section 2.5, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 2.5 by virtue of any such
conflict. 
 (e) In addition to the Events of Default specified in Section 5.1 of the Base Indenture, the following shall
constitute an “Event of Default” with respect to the 2023 Notes: any default in the payment of any Change of Control Payment in respect of the 2023 Notes as when the same becomes due and payable in accordance with Section 2.5 hereof.
Such additional Event of Default is expressly included in this Supplemental Indenture for the benefit of, and shall be solely applicable to, the Securities established by this Supplemental Indenture. 

ARTICLE 3 

MISCELLANEOUS PROVISIONS 
 Section 3.1 Ratification. The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 

Section 3.2 Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which when so
executed shall be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and
delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original
signatures for all purposes. 
 Section 3.3 Governing Law. THIS SUPPLEMENTAL INDENTURE AND THE 2023 NOTES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CHOICE OF LAW PRINCIPLES THEREOF. 

  
 9 

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

			
	PERRIGO COMPANY
		
	BY	 	 /s/ Judy Brown

		
	Name:	 	Judy Brown
	Title:	 	Executive Vice President and Chief Financial Officer
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	BY	 	 /s/ Gregory S. Clarke

		
	Name:	 	Gregory S. Clarke
	Title:	 	Vice President

 [Signature page to First Supplemental Indenture] 

  
 10 

 EXHIBIT A 
 Form of Note 

  
 A-1

 [Global Securities Legend] 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT AND ANY SUCH CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 PERRIGO COMPANY 
 2.950% NOTE DUE 2023 
  

			
	No.                	  	$                

CUSIP No. 714290 AD5 

ISIN No. US714290 AD59 
 Perrigo Company, a Michigan corporation (herein called the “Company,” which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received,
hereby promises to pay to             the principal sum of             Dollars
($            ), as revised by the Schedule of Increases or Decreases to Global Security attached hereto, on May 15, 2023, and to pay interest thereon from May 16, 2013 or from
the most recent Interest Payment Date to which interest has been paid or duly provided for semi-annually on May 15 and November 15 in each year commencing November 15, 2013, at the rate of 2.950% per annum until the principal
hereof is paid or made available for payment. The amount of interest payable for any period shall be computed on the basis of a 360-day year of twelve 30-day months. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture referred to on the reverse hereof, be paid to the Person in whose name
this Security is registered at the close of business on the May 1 or the November 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that, if such Interest
Payment Date would fall on a day that is not a Business Day, such payment shall be made on the Adjusted Interest Payment Date, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date to the
corresponding Adjusted Interest Payment Date. 
 Payment of the principal of (and premium, if any, on) and any interest, or
Additional Amounts, if any, on this Security will be made at Corporate Trust Office, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

  
 A-2

 Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been manually executed by or on behalf of the Trustee under the Indenture referred to on the reverse hereof, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory
for any purpose. 
 * * * * * 

  
 A-3

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	 Dated: May 16, 2013
	 	Perrigo Company
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
			
	Attest:	 		 	
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	Secretary

  
 A-4

 Trustee’s Certificate of Authentication 

This is one of the Securities referred to in the within mentioned Indenture. 

 

			
	Wells Fargo Bank, National Association, as Trustee
		
	By:	 	 
		 	Authorized Signatory
		
	Dated	 	 

  
 A-5

 [Form of Reverse of Security] 

PERRIGO COMPANY 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture dated as of May 16, 2013, by and between the Company and Wells Fargo Bank, National Association, as trustee (herein called the “Trustee,” which term includes any successor trustee under
the Indenture), as supplemented by a supplemental indenture dated as of May 16, 2013, by and between the Company and the Trustee (collectively, the “Indenture”), to which the Indenture and all indentures supplemental thereto
reference, is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof initially limited in aggregate principal amount to $            . 

The Securities are redeemable on the terms and subject to the conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this
series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits,
with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series under the Indenture to be affected at any time by the
Company and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders
of specified percentages in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of all the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 No reference herein
to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any, on) and interest and Additional Amounts,
if any, on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
 No holder of any
beneficial interest in this Security held on its behalf by a Depositary or a nominee of such Depositary shall have any rights under the Indenture with respect to such Global Security, and such Depositary or nominee may be treated by the Company, the
Trustee, and any agent of the Company or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, as between a Depositary and such holders of beneficial interests, the
operation of customary practices governing the exercise of the rights of the Depositary as Holder of any Security. 
 This
Security may be transferred or exchanged upon the terms and subject to the conditions set forth in the Indenture. 
 No recourse
shall be had for the payment of the principal of (and premium, if any, on) or interest or any Additional Amounts, if any, on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or
any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 

All capitalized terms used in this Security and not otherwise defined herein shall have the meanings assigned to them in the Indenture.

  
 A-6

 This Security, including without limitation the obligation of the Company contained herein
to pay the principal of (and premium, if any, on) and interest and Additional Amounts, if any, on this Security in accordance with the terms hereof and of the Indenture, shall be construed in accordance with and governed by the laws of the State of
New York. 

  
 A-7

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below: 
 (I) or (we) assign and
transfer this Security to 
  
  

(Insert assignee’s social security or tax I.D. no.) 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint             agent to transfer this
Security on the books of the Company. The agent may substitute another to act for him. 
  

			
	Your Signature:	  	  

		  	(Sign exactly as your name appears on the other side of this Security)

Date:                     
                                         
               
 Medallion Signature
Guarantee:                                     

  
 A-8

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of
 Exchange
	  	 Amount of increase in
Principal Amount of

this Global Security
	  	 Amount of decrease

in Principal Amount

of this Global

Security
	  	 Principal Amount of

this Global Security
following such
 decrease or increase
	  	 Signature of

authorized signatory

of Trustee

  
 A-9EX-10.1

 Exhibit 10.1 
 The following executive officers have entered into this Amended and Restated Separation Agreement, a form of which follows, with Carmike Cinemas, Inc.: 

 

	
	 Name

	Richard B. Hare
	 Fred W. Van Noy
 Daniel E.
Ellis
 John Lundin

 AMENDED AND RESTATED SEPARATION AGREEMENT 

THIS AMENDED AND RESTATED SEPARATION AGREEMENT (this “Agreement”) dated as of May 15, 2013, amends and restates
that certain Separation Agreement, as amended through the date hereof (the “Prior Agreement”), made and entered into as of the      day of             ,
         (the “Commencement Date”) by and between Carmike Cinemas, Inc. (“Carmike”) and
                     (“Executive”). 
 R E C I T A L S 
 WHEREAS, Executive currently is employed by
Carmike as Carmike’s                     ; and 
 WHEREAS, Carmike and Executive have entered into the Prior Agreement; and 

WHEREAS, Carmike and Executive desire to amend and restate the Prior Agreement in the form of this Agreement which sets forth the
terms and conditions which will be applicable if (i) Carmike terminates Executive’s employment without Cause before the beginning or after the end of his or her Protection Period or (ii) Carmike terminates Executive’s employment
without Cause or Executive resigns for Good Reason during his or her Protection Period. 
 NOW, THEREFORE, in
consideration of the mutual promises and agreements contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Carmike and Executive hereby agree as follows: 

§ 1. Term 
 The term of this Agreement shall begin on the Commencement Date and shall end on                  ,
         (the “Initial Term”), unless extended or earlier terminated in accordance with the terms of this Agreement (the Initial Term and any extension or earlier termination thereof is
referred to as the “Term”). If not earlier terminated, the Term automatically shall be extended for one additional year on the second anniversary of the Commencement Date and for one additional year on each anniversary of the
Commencement Date thereafter unless Carmike, at least ninety (90) days before any such anniversary date, gives written notice to Executive that there will be no such extension. 

 § 2. Definitions 

2.1 Cause. The term “Cause” for purposes of this Agreement: 

(a) shall before the beginning or after the end of Executive’s Protection Period mean: 

(1) Executive is convicted of, pleads guilty to, or confesses or otherwise admits to any felony or any act of fraud,
misappropriation or embezzlement or Executive otherwise engages in a fraudulent act or course of conduct; 
 (2)
There is any act or omission by Executive involving malfeasance or negligence in the performance of Executive’s duties and responsibilities for Carmike, or the exercise of Executive’s powers as an executive of Carmike, where such act or
omission is reasonably likely to materially and adversely affect Carmike’s business; 
 (3) (A) Executive
breaches any of the provisions of § 4 or (B) Executive violates any provision of any code of conduct adopted by Carmike which applies to Executive and if the consequence to such violation for any employee subject to such code of
conduct ordinarily would be a termination of his or her employment by Carmike; and 
 (4) any determination that
“Cause” exists under this § 2.1(a) shall be made in good faith by the affirmative vote of at least a majority of the members of the Board then in office at a meeting called and held for purposes of making such determination.

 (b) shall during Executive’s Protection Period mean: 

(1) Executive is convicted of, pleads guilty to, or confesses or otherwise admits to any felony or any act of fraud,
misappropriation or embezzlement or Executive otherwise engages in a fraudulent act or course of conduct which has a material and adverse effect on Carmike; 
 (2) There is any act or omission by Executive involving malfeasance or gross negligence in the performance of Executive’s duties and responsibilities for Carmike, or the exercise of Executive’s
powers as an executive of Carmike, where such act or omission actually has a material and adverse effect on Carmike’s business; 
 (3) (A) Executive breaches any of the provisions of § 4 and such breach has a material and adverse effect on Carmike or (B) Executive violates any provision of any code of conduct adopted
by Carmike which applies to Executive and any other Carmike employee if the consequence to such violation for any employee subject to such code of conduct clearly would have been a termination of his or her employment by Carmike; provided, however,

 (4) No such act or omission or event shall be treated as “Cause” under this Agreement unless
(A) Executive has been provided a detailed, written statement of the basis for Carmike’s belief such act or omission or event constitutes “Cause” and an opportunity to meet with the Board (together with Executive’s counsel
if Executive chooses to have Executive’s counsel present at such meeting) after Executive has had a reasonable period in which to review such statement and, if the allegation is under § 2.1(b)(2) or § 2.1(b)(3), has had at
least a thirty (30) day period to take corrective action and (B) the Board after such meeting (if Executive meets with the Board) and after the end of such thirty (30) day correction period (if applicable) determines reasonably and in
good faith and by the affirmative vote of at least two thirds of the members of the Board then in office at a meeting called and held for such purpose that “Cause” does exist under this Agreement. 

  
 -2-

 2.2 Change in Control. The term “Change in Control” for purposes of this
Agreement shall mean: 
 (a) a “change in control” of Carmike of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A for a proxy statement filed under Section 14(a) of the Exchange Act as in effect on the date of this Agreement; 

(b) a “person” (as that term is used in Section 14(d)(2) of the Exchange Act) becomes the beneficial owner
(as defined in Rule 13d-3 under the Exchange Act) directly or indirectly of securities representing 45% or more of the combined voting power for election of directors of the then outstanding securities of Carmike; 

(c) the individuals who at the beginning of any period of two consecutive years or less (starting on or after the date of
this Agreement) constitute Carmike’s Board cease for any reason during such period to constitute at least a majority of Carmike’s Board, unless the election or nomination for election of each new member of the Board was approved in advance
by vote of at least two-thirds of the members of such Board then still in office who were members of such Board at the beginning of such period; 
 (d) the shareholders of Carmike approve any reorganization, merger, consolidation or share exchange as a result of which the common stock of Carmike shall be changed, converted or exchanged into or for
securities of another organization or any dissolution or liquidation of Carmike or any sale or the disposition of 50% or more of the assets or business of Carmike; or 

(e) the shareholders of Carmike approve any reorganization, merger, consolidation or share exchange with another
corporation unless (i) the persons who were the beneficial owners of the outstanding shares of the common stock of Carmike immediately before the consummation of such transaction beneficially own more than 60% of the outstanding shares of the
common stock of the successor or survivor corporation in such transaction immediately following the consummation of such transaction and (ii) the number of shares of the common stock of such successor or

  
 -3-

 
survivor corporation beneficially owned by the persons described in § 2.2(e)(i) immediately following the consummation of such transaction is beneficially owned by each such person in
substantially the same proportion that each such person had beneficially owned shares of Carmike common stock immediately before the consummation of such transaction, provided (iii) the percentage described in § 2.2(e)(i) of the
beneficially owned shares of the successor or survivor corporation and the number described in § 2.2(e)(ii) of the beneficially owned shares of the successor or survivor corporation shall be determined exclusively by reference to the
shares of the successor or survivor corporation which result from the beneficial ownership of shares of common stock of Carmike by the persons described in § 2.2(e)(i) immediately before the consummation of such transaction. 

2.3 Code. The term “Code” for purposes of this Agreement shall mean the Internal Revenue Code of 1986, as amended.

 2.4 Confidential or Proprietary Information. The term “Confidential or Proprietary Information” for purposes
of this Agreement shall mean any secret, confidential, or proprietary data or other information relating to the business of Carmike (regardless of whether that data or information constitutes a trade secret) that is or has been disclosed to
Executive or of which Executive became aware as a consequence of or through Executive’s relationship with Carmike and which has value to Carmike, and is not generally known to Carmike’s competitors, including but not limited to methods of
operation, names of customers, price lists, financial information and projections, route books, personnel data, and similar information. Confidential or Proprietary Information shall not include any data or information that has been voluntarily
disclosed to the public by Carmike (except where such public disclosure has been made by Executive without authorization) or that has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful
means. 
 2.5 Disability. The term “Disability” for purposes of this Agreement means that Executive is unable
as a result of a mental or physical condition or illness to perform the essential functions of Executive’s job at Carmike even with reasonable accommodation for any consecutive 180-day period, all as reasonably determined by the Board.

 2.6 Change Effective Date. The term “Change Effective Date” for purposes of this Agreement shall mean the
earlier of (1) the date which includes the “closing” of the transaction which makes a Change in Control effective if the Change in Control is made effective through a transaction which has a “closing” or (2) the date a
Change in Control is first reportable in accordance with applicable law as effective to the Securities and Exchange Commission if the Change in Control is made effective other than through a transaction which has a “closing”. 

2.7 Exchange Act. The term “Exchange Act” for purposes of this Agreement shall mean the Securities Exchange Act of 1934,
as amended. 

  
 -4-

 2.8 Good Reason. The term “Good Reason” for purposes of this Agreement
shall mean: 
 (a) there is a reduction during Executive’s Protection Period in Executive’s base salary
from Carmike or there is a reduction during Executive’s Protection Period in Executive’s combined opportunity to receive any incentive compensation and bonuses from Carmike without Executive’s express written consent; 

(b) there is a reduction during Executive’s Protection Period in the scope, importance or prestige of
Executive’s duties, responsibilities or authority at Carmike (other than as a result of a mere change in Executive’s title if such change in title is consistent with the organizational structure of Carmike following a Change in Control)
without Executive’s express written consent; 
 (c) Carmike at any time during Executive’s Protection
Period (without Executive’s express written consent) transfers Executive’s primary work site from Executive’s primary work site at the beginning of his or her Protection Period to a new primary work site which is more than fifty
(50) miles from Executive’s then current primary work site; or 
 (d) Carmike fails (without
Executive’s express written consent) during Executive’s Protection Period to continue to provide to Executive health and welfare benefits, deferred compensation benefits, executive perquisites and stock option and restricted stock grants
that are in the aggregate comparable in value to those provided to Executive immediately prior to the beginning of his or her Protection Period; where 
 (e) Any determination required under this § 2.8 shall be made on a reasonable, good faith basis by Executive after giving the Chairman of the Board a thirty (30) day period to address and
cure the basis for Executive’s belief that he or she has “Good Reason” under this § 2.8. 
 (f) Notwithstanding anything contained herein, the non-renewal or expiration of the Term (or Carmike’s providing notice of its intent not to renew) as provided in § 1 shall not constitute
Good Reason. 
 2.9 Protection Period. The term “Protection Period” for purposes of this Agreement shall mean
the period which begins on the date there is a Change in Control and ends on the earlier of (a) the second anniversary of the Change Effective Date for such Change in Control or (b) the later of (1) the date Carmike makes a formal,
public announcement to Carmike’s shareholders to the effect that the Change in Control will not become effective or (2) the date all action legally required to assure that there would be no Change Effective Date with respect to such Change
in Control has been taken. 
 2.10 Restricted Period. The term “Restricted Period” for purposes of this
Agreement shall mean the period of Executive’s employment and the two (2) year period following the date Executive’s employment by Carmike terminates. 
 2.11 Trade Secret. The term “Trade Secret” for purposes of this Agreement shall mean information protectable as a trade secret under applicable law, including, without limitation, and

  
 -5-

 
without regard to form: technical or non-technical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans,
product plans, or a list of actual or potential customers or suppliers which is not commonly known by or available to the public and which information derives economic value, actual or potential, from not being generally known to, and not being
readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. For purposes of this Agreement, the
term Trade Secret shall not include data or information that has been voluntarily disclosed to the public by Carmike (except where such public disclosure has been made by Executive without authorization) or that has been independently developed and
disclosed by others, or that otherwise enters the public domain through lawful means. 
 § 3. Termination and Severance

 3.1 Separation Benefit. 
 (a) If (i) Carmike at any time terminates Executive’s employment without Cause or (ii) Executive resigns during his Protection Period for Good Reason, then: 

(b) Carmike shall pay Executive a total amount equal to (i)      (    ) times
his base salary in effect on the day before his or her employment terminates, plus (ii) in the event Carmike terminates Executive’s employment without Cause during the Protection Period or Executive resigns for Good Reason during the
Protection Period,      (    ) times his target annual bonus for the calendar year prior to the calendar year in which his termination of employment occurs. This severance benefit shall be payable in equal
monthly installments (subject to applicable tax withholdings) over the              (    ) consecutive calendar month period beginning with the calendar month that
coincides with or next follows the sixty-day period beginning on the date Executive has a separation from service (within the meaning of § 409A of the Code).1 
 (c) Any restrictions on any outstanding shares of Carmike restricted stock granted to Executive before January 1, 2013 immediately shall (notwithstanding the terms under which such grant was made)
expire and Executive’s right to such stock shall be non-forfeitable; 
 (d) For the period described in
§ 3.1(b), Executive shall continue to be eligible to purchase substantially the same health, dental and vision care coverage and life insurance coverage as Executive was provided under Carmike’s employee benefit plans, policies and
practices on the day before Executive’s employment terminated; provided, however, Executive shall pay 100% of the cost of such coverage. Carmike shall reimburse Executive for the difference between the cost of the coverage to Executive and the
premium that an active employee would pay for the same coverage (“Carmike’s cost of coverage”) as soon as practical after Executive pays such cost. Further, if Carmike 

 

	1	For Messrs. Hare, Van Noy and Ellis, this benefit is two times base salary and target annual bonus, paid over 24 calendar months. For Mr. Lundin, this benefit is
one times base salary and target annual bonus, paid over 12 calendar months. 

  
 -6-

 
cannot make such coverage available to Executive under Carmike’s employee benefit plans, policies or programs, either Carmike shall, at its election, (i) make such coverage and benefits
available to Executive outside such plans, policies and programs (with Executive paying 100% of the cost of such coverage and any tax liability and Carmike reimbursing Executive an amount equal to Carmike’s cost of coverage (as described above)
as soon as practical after Executive pays such costs) or (ii) Carmike shall reimburse Executive for Executive’s cost to purchase substantially similar coverage and benefits; provided, however in no event will Carmike be required to incur
annual reimbursement costs in an amount exceeding 150% of Carmike’s cost of coverage (as described above) for a similarly situated active employee during the one (1) year period preceding the date Executive’s employment terminates.
Executive at the end of the period described in § 3.1(b) shall have the right to elect healthcare continuation coverage under § 4980B of the Code and the corresponding provisions of the Employee Retirement Income Security Act of
1974, as amended, as if his employment had terminated at the end of such period. 
 3.2 Other Termination. Should
Executive’s employment terminate during the Term for any reason not governed by Section 3.1 above, or following the expiration of the Term, Executive shall be entitled only to compensation earned and all benefits and reimbursements due
through the effective date of his termination; provided, however, that if Executive’s employment terminates during the Term as a result of his death or Disability, (1) each outstanding and nonvested stock option granted to Executive
by Carmike prior to May 1, 2013 shall (notwithstanding the terms under which such option was granted) become fully vested and exercisable on the date Executive’s employment so terminates and each outstanding stock option shall
(notwithstanding the terms under which such option was granted) remain exercisable for one year following such termination, or if less, for the remaining term of each such option (as determined as if there had been no such termination of
Executive’s employment), subject to the same terms and conditions as if Executive had remained employed by Carmike for such term or such period (other than any term or condition which gives Carmike the right to cancel any such option) and
(2) any restrictions on any outstanding shares of Carmike restricted stock issued to Executive prior to May 1, 2013 immediately shall (notwithstanding the terms under which such grant was made) expire and Executive’s right to such
stock shall be non-forfeitable. 
 3.3 No Increase in Other Benefits. If Executive’s employment terminates under the
circumstances described in § 3.1, Executive expressly waives Executive’s right, if any, to have any payment made under § 3.1 taken into account to increase the benefits otherwise payable to, or on behalf of, Executive under
any employee benefit plan, policy or program, whether qualified or nonqualified, maintained by Carmike. 
 3.4 Termination in
Anticipation of a Change in Control. Executive shall be treated under 3.1 as if Executive had resigned for Good Reason during Executive’s Protection Period if: 

(1) Executive resigns for what would have been Good Reason if his or her resignation had been tendered during his or her
Protection Period, 
 (2) such resignation is effective at any time in the sixty (60) day period which ends
on the date of a Change in Control, and 
 (3) there is a Change Effective Date for such Change in Control.

  
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 3.5 Asset Sales. If Carmike engages in a Change of Control under § 2.2(d)
as a result of a sale or disposition of 50% or more of the assets or business of Carmike and the purchaser of such assets does not expressly agree to assume this Agreement and all of Carmike’s obligations under this Agreement as part of the
asset purchase agreement, Executive shall have the right to resign as of the Change Effective Date of such Change in Control and such resignation shall be treated as a resignation for Good Reason during his Protection Period. 

3.6 General Release. The separation benefit provided in § 3.1 shall not be paid unless Executive signs a General Release of
claims in a form reasonably acceptable to Carmike and such general release shall have become irrevocable on or before the end of the sixty (60) day period beginning on Executive’s “separation from service” (as such term is
defined in Treas. Reg. § 1.409A-1(h)) and subject to § 6.12, payments described in § 3.1 shall commence on the sixtieth (60th) day following Executive’s separation from service. Notwithstanding the foregoing sentence,
nothing in this §3.6 is intended to increase the amount of benefits provided under § 3.1. 
 § 4.
Restrictive Covenants 
 4.1 No Solicitation of Suppliers or Vendors. Executive will not, during the Restricted
Period, for purposes of competing with Carmike in the business of operating movie theatres and related concessions, solicit or attempt to solicit, directly or by assisting others, any business or services from any other person or entity that
directly or indirectly provides goods or services to Carmike, including the provision of movies, popcorn or other concession stand products, or the equipment to show movies and prepare popcorn and other concession stand products, and with whom
Executive had material contact at any time during Executive’s employment. 
 4.2 Non-Solicitation of Employees.
Executive will not during the Restricted Period solicit or attempt to solicit on Executive’s own behalf or on behalf of any other person, firm or corporation that engages, directly or indirectly, in exhibiting motion pictures, any person
who was employed by Carmike in an executive, managerial, or supervisory capacity during the term of Executive’s employment by Carmike, with whom Executive had business dealings during the two (2) year period which ends on the date
Executive’s employment by Carmike terminates (whether or not such employee would commit a breach of contract), and who has not ceased to be employed by Carmike for a period of at least one (1) year. 

4.3 Trade Secrets and Confidential or Proprietary Information. Executive hereby agrees that Executive will hold in a fiduciary
capacity for the benefit of Carmike, and will not directly or indirectly use or disclose, any Trade Secrets or Confidential or Proprietary Information (each as defined herein) that Executive may have acquired during the term of Executive’s
employment by Carmike. Executive’s obligation of non-disclosure as set forth herein shall continue for so long as such item continues to constitute a Trade Secret or Confidential or Proprietary Information. 

  
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 4.4 Reasonable and Necessary Restrictions. Executive acknowledges that the
restrictions, prohibitions and other provisions set forth in this Agreement, including without limitation the Restricted Period, are reasonable, fair and equitable in scope, terms and duration; are necessary to protect the legitimate business
interests of Carmike; and are a material inducement to Carmike to enter into this Agreement. Executive covenants that Executive will not challenge the enforceability of this Agreement nor will Executive raise any equitable defense to its
enforcement. In the event that any of the covenants in §§ 4.1, 4.2, and 4.3 are found by a court of competent jurisdiction or arbitrator to be overly broad or otherwise unenforceable as written, the parties request the court to modify or
reform any such covenant to allow it to be enforced to the maximum extent permitted by law and to enforce the covenant as so modified or reformed. 
 4.5 Specific Performance. The provisions of § 4 shall survive the termination of this Agreement for any reason. Executive acknowledges that the obligations undertaken by him pursuant to
this Agreement are unique and that Carmike likely will have no adequate remedy at law if Executive shall fail to perform any of Executive’s obligations under this Agreement, and Executive therefore confirms that Carmike’s right to specific
performance of the terms of this Agreement is essential to protect the rights and interests of Carmike. Accordingly, in addition to any other remedies that Carmike may have at law or in equity, Carmike will have the right to have all obligations,
covenants, agreements and other provisions of this Agreement specifically performed by Executive, and notwithstanding § 6.2(b), below, Carmike will have the right to obtain preliminary and permanent injunctive relief in court to secure
specific performance and to prevent a breach or contemplated breach of this Agreement by Executive, and Executive submits to the jurisdiction of the courts of the State of Georgia for this purpose. 

4.6 Tolling. In the event the enforceability of any of the restrictive covenants in this Agreement shall be challenged in a claim
or counterclaim in court during the time periods set forth in this Agreement for such restrictive covenants, and Executive is not immediately enjoined from breaching any of the restrictive covenants herein, then if a court of competent jurisdiction
later finds that the challenged protective covenant is enforceable, the time periods set forth in the challenged restrictive covenant(s) shall be deemed tolled upon the filing of the claim or counterclaim in court seeking or challenging the
enforceability of this Agreement until the dispute is finally resolved and all periods of appeal have expired; provided, however, that, to the extent Executive complies with such restrictive covenant(s) during such challenge, the time periods set
forth in the challenged restrictive covenant(s) shall not be deemed tolled. 
 4.7 Notification to Subsequent Employer.
Executive agrees to notify any subsequent employer of the covenants and terms contained in this Section 4 of this Agreement and any related definitions. In addition, Executive authorizes Carmike to provide a copy of this Section 4 of this
Agreement and any related definitions to third parties, including but not limited to, the Executive’s subsequent, anticipated or possible future employers. 
 § 5. Work Product and Inventions. 
 5.1 Works. Executive
acknowledges that Executive’s work on and contributions to documents, programs, methodologies, protocols, and other expressions in any tangible medium which have been or will be prepared by Executive, or to which Executive has contributed or
will 

  
 -9-

 
contribute, in connection with Executive’s services to Carmike (collectively, “Works”), are and will be within the scope of Executive’s employment and part of
Executive’s duties and responsibilities. Executive’s work on and contributions to the Works will be rendered and made by Executive for, at the instigation of, and under the overall direction of Carmike, and are and at all times shall be
regarded, together with the Works, as “work made for hire” as that term is used in the United States Copyright Laws. However, to the extent that any court or agency should conclude that the Works (or any of them) do not constitute or
qualify as a “work made for hire”, Executive hereby assigns, grants, and delivers exclusively and throughout the world to Carmike all rights, titles, and interests in and to any such Works, and all copies and versions, including all
copyrights and renewals. Executive agrees to cooperate with Carmike and to execute and deliver to Carmike, its successors and assigns, any assignments and documents Carmike requests for the purpose of establishing, evidencing, and enforcing or
defending its complete, exclusive, perpetual, and worldwide ownership of all rights, titles, and interests of every kind and nature, including all copyrights, in and to the Works, and Executive constitutes and appoints Carmike as his agent to
execute and deliver any assignments or documents Executive fails or refuses to execute and deliver, this power and agency being coupled with an interest and being irrevocable. Without limiting the preceding provisions of this § 5.1,
Executive agrees that Carmike may edit and otherwise modify, and use, publish and otherwise exploit, the Works in all media and in such manner as Carmike, in its sole discretion, may determine. 

5.2 Inventions and Ideas. Executive shall disclose promptly to Carmike (which shall receive it in confidence), and only to
Carmike, any invention or idea of Executive in any way connected with Executive’s services or related to the business of Carmike, (developed alone or with others), conceived or made during the Term or within three (3) months thereafter and
hereby assigns to Carmike any such invention or idea. Executive agrees to cooperate with Carmike and sign all papers deemed necessary by Carmike to enable it to obtain, maintain, protect and defend patents covering such inventions and ideas and to
confirm Carmike’s exclusive ownership of all rights in such inventions, ideas and patents, and irrevocably appoints Carmike as its agent to execute and deliver any assignments or documents Executive fails or refuses to execute and deliver
promptly, this power and agency being coupled with an interest and being irrevocable. 
 § 6. Miscellaneous Provisions

 6.1 Assignment. This Agreement is for the personal services of Executive, and the rights and obligations of
Executive under this Agreement are not assignable in whole or in part by Executive without the prior written consent of Carmike. This Agreement is assignable in whole or in part to any parent, subsidiaries, or affiliates of Carmike, but only if such
person or entity is financially capable of fulfilling the obligations of Carmike under this Agreement. 
 6.2 Disputes.

 (a) Governing Law and Courts. This Agreement will be governed by and construed under the laws of the
State of Georgia (without reference to the choice of law principles under the laws of the State of Georgia). The parties agree that the state and federal courts in the State of Georgia with jurisdiction within or over Muscogee County, Georgia shall
have exclusive jurisdiction and venue for any action arising from a dispute 

  
 -10-

 
under this Agreement, and for any such action brought in such a court, expressly waives any defense Executive might otherwise have based on lack of personal jurisdiction or improper venue, or
that the action has been brought in an inconvenient forum. 
 (b) Arbitration. Carmike shall have the
right to obtain an injunction or other equitable relief in court arising out of Executive’s breach of the provisions of § 4 of this Agreement. However, any other controversy or claim arising out of or relating to this Agreement or any
alleged breach of this Agreement shall be settled by binding arbitration in Columbus, Georgia in accordance with the rules of the American Arbitration Association then applicable to employment-related disputes and any judgment upon any award, which
may include an award of damages, may be entered in the highest state or federal court having jurisdiction over such award. In the event of the termination of Executive’s employment, his or her sole remedy shall be arbitration under this
§ 6.2(b) and any award of damages shall be limited to recovery of lost compensation and benefits provided for in this Agreement. No punitive damages may be awarded to Executive. Carmike shall be responsible for paying all reasonable fees
of the arbitrator. 
 6.3 Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an
original, but all of which together will constitute one and the same instrument. 
 6.4 Headings; References. The
headings and captions used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. Any reference to a section (§) shall be to a section (§) of this Agreement
unless there is an express reference to a section (§) of the Code or the Exchange Act, in which event the reference shall be to the Code or to the Exchange Act, whichever is applicable. 

6.5 Attorneys Fees. If at any time during the term of this Agreement or for a period of four (4) years after the expiration
of this Agreement there should arise any dispute as to the validity, interpret ion or application of any term or condition of this Agreement and it is finally determined by an arbitrator or a court of competent jurisdiction that Executive is the
prevailing party in such dispute, and all appeals are exhausted and final, the Company agrees, upon written demand by Executive, to promptly reimburse Executive’s reasonable costs and reasonable attorney’s fees incurred by Executive in
connection with reasonably seeking to enforce the terms of this Agreement up to $100,000 in the aggregate for all such disputes. Any such reimbursement shall be made by the Company upon or as soon as practicable following receipt of supporting
documentation of the expenses reasonably satisfactory to the Company (but in no event later than March 15th of the calendar year following the calendar year in which it is finally determined that Executive is the prevailing party in such
dispute and all appeals are exhausted and final). The expenses paid by the Company during any taxable year of Executive will not affect the expenses paid by the Company in another taxable year. This right to reimbursement is not subject to
liquidation or exchange for another benefit. With respect to any other action taken with respect to this Agreement, Carmike shall bear its own attorneys’ fees and expenses and Executive shall bear Executive’s own attorneys’ fees and
expenses. 
 6.6 Amendments and Waivers. Except as otherwise specified in this Agreement, this Agreement may be amended,
and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of Carmike and Executive. 

  
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 6.7 Severability. Any provision of this Agreement held to be unenforceable under
applicable law will be enforced to the maximum extent possible, and the balance of this Agreement will remain in full force and effect. 
 6.8 Entire Agreement. This Agreement constitutes the entire understanding and agreement of Carmike and Executive with respect to the transactions contemplated in this Agreement, and this Agreement
supersedes all prior understandings and agreements between Carmike and Executive with respect to such transactions including the Prior Agreement. The provisions of Sections 4, 5 and 6 of this Agreement shall survive the termination thereof in
accordance with their terms. 
 6.9 Return of Company Property. All records, designs, patents, business plans, financial
statements, manuals, memoranda, customer lists, computer data, customer information, and other property or information delivered to or compiled by Executive by or on behalf of Carmike or its representatives, vendors or customers shall be and remain
the property of Carmike, and be subject at all times to its discretion and control. Upon the request of Carmike and, in any event, upon the termination of Executive’s employment with Carmike, Executive shall deliver all such materials to
Carmike. 
 6.10 Notices. Any notice required under this Agreement to be given by either Carmike or Executive will be in
writing and will be deemed effectively given upon personal delivery to the party to be notified or five (5) days after deposit with the United States post office by registered or certified mail, postage prepaid, to the other party at the
address set forth below or to such other address as either party may from time to time designate by ten (10) days advance written notice pursuant to this § 6.10. Any such written notice shall be directed as follows: 

If to Carmike: 

Carmike Cinemas, Inc. 
 1301 First Avenue 
 Columbus, Georgia 31901 

Attention: General Counsel 
 If to Executive: 
 To Executive at his or her most recent 

address provided by Executive to Carmike 
 6.11 Binding Effect. This Agreement shall be for the benefit of, and shall be binding upon, Carmike and Executive and their respective heirs, personal representatives, legal representatives,
successors and assigns, subject, however, to the provisions in § 6.1 of this Agreement. 

  
 -12-

 6.12 Compliance with § 409A of the Code. To the extent any payments under
this Agreement constitute “deferred compensation” subject to § 409A of the Code, Executive and Carmike intend all such payments to comply with the requirements of such section, and this Agreement shall, to the extent practical,
be operated and administered to effectuate such intent. Each payment made under §§ 3.1 and 6.5 of this Agreement is designated as a “separate payment” within the meaning of § 409A. Notwithstanding any contrary provision,
(i) if at the time of “separation from service,” Executive is a “specified employee,” as determined in accordance with procedures adopted by the Company that reflect the requirements of § 409A(a)(2)(B)(i) of the Code
(and any applicable guidance thereunder) and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such separation from service is necessary to comply with § 409A (after giving effect to all
relevant exceptions including the exception for amounts qualifying as “short term deferrals”), then the Company shall defer the commencement of payment of any such payments or benefits hereunder (without any reduction in such payments or
benefits ultimately paid or provided) and accumulate such amounts until the date that is six (6) months and one (1) day after the date Executive has a separation from service (or, if earlier, the date of the Employee’s death) at which
time the accumulated amounts shall be paid; and (ii) if any other payments of money or other benefits due to Employee hereunder could result in a violation of § 409A, such payments or other benefits shall be deferred if deferral will make
such payment or other benefits compliant under § 409A, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Company, that does not cause such a violation. In addition, to the
extent that any reimbursement under this Agreement provides for a “deferral of compensation” within the meaning of § 409A of the Code, (i) the amount eligible for reimbursement in one calendar year may not affect the amount
eligible for reimbursement or in-kind benefit in any other calendar year (except that a plan providing medical or health benefits may impose a generally applicable limit on the amount that may be reimbursed or paid), (ii) the right to
reimbursement is not subject to liquidation or exchange for another benefit, and (iii) subject to any shorter time periods provided herein, any such reimbursement of an expense must be made on or before the last day of the calendar year
following the calendar year in which the expense was incurred. 
 6.13 Not an Employment Contract. This Agreement is not
an employment contract and shall not give Executive the right to continue in employment by Carmike for any period of time or from time to time. Moreover, this Agreement shall not adversely affect the right of Carmike to terminate Executive’s
employment with or without cause at any time. 

  
 -13-

 IN WITNESS WHEREOF, Carmike and Executive have executed this Amended and Restated
Separation Agreement effective as of the date first set forth above. 
  

			
	CARMIKE CINEMAS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	EXECUTIVE
	
	  

	Name:

  
 -14-

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