Document:

Exhibit 10.04

     

    AMENDMENT
AGREEMENT

     

     

    Dated: 20
May, 2008

     

    BETWEEN:

     

    
      	
              1.

            	
              SHIRE EXECUTIVE SERVICES
      INC., a Delaware corporation having its registered offices at 1209
      Orange Street, Wilmington, Delaware (the “Company”);
      and

            

    

     

    
      	
              2.

            	
              MR. MATTHEW EMMENS of
      Hampshire International Business Park, Chineham, Basingstoke, Hampshire,
      RG24 8EP (the “Director”).

            

    

     

    WHEREAS:

     

    
      	
              A.

            	
              Shire
      plc is proposing to enter into the Scheme of Arrangement (as defined
      below);

            

    

     

    
      	
              B.

            	
              In
      connection with the Scheme of Arrangement becoming effective, both the
      Company and the Director wish to amend the Contract (as defined below)
      such that it shall apply to the Director’s service as Chief Executive
      Officer of Shire Limited rather than his service as Chief Executive
      Officer of Shire plc;

            

    

     

    
      	
              C.

            	
              In
      consideration of the agreements of the Company made herein and other good
      and valuable consideration, receipt of which is hereby acknowledged, each
      of the Company and the Director desires to enter into this
      agreement.

            

    

     

    NOW IT IS AGREED as
follows:

     

    
      	
              1. 

            	
              INTERPRETATION

            

    

     

    
      	
              1.1 

            	
               In
      this agreement (including in its
recitals):

            

    

     

    “Contract” means the amended
and restated employment agreement relating to the employment of the Director as
Chairman of the Board of Directors and Chief Executive of the Company, Chief
Executive Officer of Shire plc and Chairman of the Board of Directors of Shire
US Inc., made between the Company and the Director and dated 12th March
2004 and as amended on or around 25 November 2005;

     

    “Effective Date” means the date
upon which the Scheme of Arrangement becomes effective in accordance with its
terms; and

     

    “Scheme of Arrangement” means
the proposed scheme of arrangement under sections 895 to 899 of the Companies
Act 2006 whereby Shire Limited will be interposed as the new holding company of
Shire plc, in its present form or with or subject to any modification, addition
or condition approved or imposed by the Court.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              1.2 

            	
              In
      this agreement, unless otherwise
specified:

            

    

     

    
      	
              (a)

            	
              references
      to Clauses and sub-clauses are to clauses and sub-clauses of this
      agreement; and

            

    

    

    
      	
              (b)

            	
              headings
      agreement are for convenience only and do not affect the interpretation of
      this agreement.

            

    

     

    
      	
              2 

            	
              CONDITIONS

            

    

     

    2.1          
This agreement shall be conditional in its entirety upon the Scheme of
Arrangement becoming effective.

     

    
      	
              3. 

            	
              AMENDMENT
      OF CONTRACT

            

    

     

    3.1          
It is hereby agreed that, with effect from the Effective Date, the Contract,
with the exception of the exhibits thereto, shall be amended such that all
references to Shire plc shall be replaced with references to Shire Limited. All
relevant defined terms in the Contract shall be construed
accordingly.

     

    
      	
              4. 

            	
              EFFECT
      OF THIS AGREEMENT

            

    

     

    4.1          
Prior to the Effective Date, the Contract (including its exhibits) shall
continue in full force and effect in accordance with its current terms. With
effect from the Effective Date, the Contract (including its exhibits) shall
continue in full force and effect as amended by this agreement.  If
the Scheme of Arrangement does not become effective on or before 31 December
2008, this agreement shall be null and void ab initio.

     

    4.2           All
salary, holiday entitlement and other benefits accrued and unpaid to the
Director prior to the Effective Date, in respect of his service as Chief
Executive Officer of Shire plc, shall, notwithstanding Clause 3, be carried
forward and shall be deemed to apply after the Effective Date in respect of his
service as Chief Executive Officer of Shire Limited.

     

    4.3           The
parties hereby acknowledge and agree that, for the purposes of clauses 7 and 9
of the Contract, the interposition of Shire Limited as the new holding company
of Shire plc pursuant to the Scheme of Arrangement shall not constitute grounds
for a termination of employment by the Director for Good Reason (as such term is
defined in the Contract) or a Change of Control (as such term is defined in the
Contract).

     

    4.4           Nothing
in this agreement shall affect the remedies available either to the Director, or
to the Company, whether under the Contract or otherwise, for any breach of, or
default under, the Contract by either the Director or the Company, as the case
may be, prior to the Effective Date.

     

    4.5           This
agreement is to be binding on the parties notwithstanding clause 13.2 of the
Contract.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              5. 

            	
              ENTIRE
      AGREEMENT

            

    

     

    5.1           This
agreement, together with the Contract, constitutes the whole and only agreement
between the parties relating to the subject matter of this agreement. Each party
acknowledges that, in entering into this agreement, it is not relying on any
pre- contractual statement which is not set out in this agreement or the
Contract.

     

    
      	
              6. 

            	
              COUNTERPARTS

            

    

     

    6.1           This
agreement may be executed in any number of counterparts, and by the parties on
separate counterparts, but shall not be effective until each party has executed
at least one counterpart.

     

    6.2           Each
counterpart shall constitute an original of this agreement, but all the
counterparts shall together constitute but one and the same
instrument.

     

    
      	
              7. 

            	
              GOVERNING
      LAW AND JURISDICTION

            

    

     

    7.1           The
provisions of clause 14.6 of the Contract shall apply equally to this agreement
mutatis mutandis as if set out in full in this agreement.

    
 

    

    
      	 
      
	 
      
	
              /s/
      Tatjana May

            
	
              For
      and on behalf of 

            
	
              SHIRE EXECUTIVE SERVICES
      INC. 

            
	 
      
	 
      
	
              /s/
      Matthew Emmens

            
	
              MR. MATTHEW
      EMMENSExhibit 10.05

     

    RATIFICATION
AND GUARANTY RELATING TO

    THE
SERVICE CONTRACT OF MR MATTHEW EMMENS

     

    1.           Interpretation

     

    1.1         In
this Ratification and Guaranty:

     

    “Agreement” means the amended
and restated employment agreement relating to the employment of Matthew Emmens
as Chairman of the Board of Directors and Chief Executive of Shire Executive
Services Inc., Chief Executive Officer of Shire plc and Chairman of the Board of
Directors of Shire US Inc., made between Shire Executive Services Inc. and
Matthew Emmens and dated 12th March
2004, as amended from time to time;

     

    “Second Amendment Agreement” means the
agreement of even date with this Ratification and Guaranty between Shire
Executive Services Inc. and Matthew Emmens pursuant to which certain provisions
of the Agreement are amended; and

     

    “Effective Date” means the date
upon which the Second Amendment Agreement becomes effective in accordance with
its terms.

     

    1.2 
       Unless expressly stated otherwise, all other
defined terms in this Ratification and Guaranty shall have the same meaning as
is given to them in the Agreement.

     

     

    2.         
 Ratification and Guaranty

     

    Shire
Limited and Shire US Inc. (each a “Guarantor”) hereby confirm and
ratify the Agreement and, with effect from the Effective Date, agree (i) to the
provisions thereof and (ii) to be bound by such provisions.  For value
received and to replace the ratification and guaranty given by Shire plc and
Shire US Inc. in respect of the Agreement, with effect from the Effective Date,
each Guarantor jointly and severally hereby irrevocably guarantees to the
Executive the prompt performance and payment of all obligations of the Company
to the Executive under the Agreement. This is a guarantee of performance and
payment and not of collection.  The obligations of each Guarantor
under this guarantee shall not be affected or impaired by reason of the
happening from time to time of any of the following with respect to the
Agreement: (i) the waiver by the Executive or the Company of the performance or
observance of any provision of the Agreement; (ii) the modification or amendment
(whether material or otherwise) of any of the obligations of the Company or the
Executive under the Agreement; (iii) any failure, omission or delay on the part
of the Executive to enforce, assert or exercise any right conferred on the
Executive in the Agreement or otherwise; or (iv) any bankruptcy, insolvency or
reorganization of, any arrangement or assignment for benefit of creditors by, or
any trusteeship with respect to, the Company or any of its
assets.  Each Guarantor specifically agrees to be subject to the
arbitration and dispute resolution procedures set forth in Section 15.6 of the
Agreement and to the jurisdiction of the state and federal courts in the State
of New York, agrees to be bound by an arbitrator’s determinations in any
arbitration by the Company and the Executive, agrees not to assert arguments of
forum non conveniens

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    and agrees
that service upon it may be made by registered mail, return receipt requested.
Each Guarantor shall require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all its
business, assets or stock to expressly assume this guarantee in writing
delivered to the Executive and to fulfil the obligations hereunder as if no
succession had taken place. Notwithstanding anything herein to the contrary, the
obligations of Shire Limited under this Ratification and Guaranty shall not
apply to any extent satisfaction of such obligations would violate the laws of
Jersey.

     

     

    
      	
              SHIRE
      LIMITED 

            	 
	 
      	 
      	 
      	 
	
              By:

            	/s/
      Matthew Emmens	 
	 
      	
              Name:

            	 
      	 
	 
      	
              Title:

            	 
      	 
	 
      	 
      	 
      	 
	
              Dated: 
      May 20, 2008

            	 
	 	 	 	 

    

     

     

     

    
      	
              SHIRE US
      INC.

            	 
	 
      	 
      	 
      	 
	
              By:

            	/s/
      Scott Applebaum	 
	 
      	
              Name:

            	 
      	 
	 
      	
              Title:

            	 
      	 
	 
      	 
      	 
      	 
	
              Dated:  May
      20, 2008

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