Document:

EX-10.3

Exhibit 10.3

EXECUTION COPY

Confirmation of OTC Warrant Transaction

	 	 	 
	Date:

	 	September 9, 2008
	 
	To:

	 	Mylan Inc. (“Counterparty”)
	 

	 	1500 Corporate Drive
	 

	 	Canonsburg, PA 15317
	 

	 	Attention: Edward J. Borkowski, Chief Financial Officer
	 

	 	Facsimile No.: (724) 514 1871
	 

	 	Telephone No.: (724) 514 1870
	 
	 	 
	From:

	 	Merrill Lynch International (“Dealer” or “MLI”)
	 

	 	Merrill Lynch Financial Centre
	 

	 	2 King Edward Street
	 

	 	London EC1A 1HQ
	 

	 	Manager, Fixed Income Settlements
	 

	 	Facsimile No.: 44 207 995 2004
	 

	 	Telephone No.: 44 207 995 3769

MLI Reference: 088593443

Dear Sir / Madam:

     The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and
conditions of the above-referenced transaction entered into among Counterparty, Dealer and Merrill
Lynch, Pierce, Fenner & Smith Incorporated (the “Agent”) on the Trade Date specified below
(the “Transaction”). This Confirmation constitutes a “Confirmation” as referred to in the
Agreement specified below.

     The definitions and provisions contained in the 2000 ISDA Definitions (the “Swap
Definitions”) and the 2002 ISDA Equity Derivatives Definitions (the “Equity
Definitions” and, together with the Swap Definitions, the “Definitions”), in each case
as published by the International Swaps and Derivatives Association, Inc., are incorporated into
this Confirmation. In the event of any inconsistency between the Swap Definitions and the Equity
Definitions, the Equity Definitions will govern, and in the event of any inconsistency between the
Definitions and this Confirmation, this Confirmation will govern. References herein to a
“Transaction” shall be deemed to be references to a “Share Option Transaction” for the purposes of
the Equity Definitions and to a “Swap Transaction” for the purposes of the Swap Definitions. For
purposes of this Transaction, “Warrant Style”, “Warrant Type”, “Number of Warrants” and “Warrant
Entitlement” (each as defined below) shall be used herein as if such terms were referred to as
“Option Style”, “Option Type”, “Number of Options” and “Option Entitlement”, respectively, in the
Definitions.

     This Confirmation evidences a complete binding agreement between you and us as to the terms of
the Transaction to which this Confirmation relates. This Confirmation (notwithstanding anything to
the contrary herein), shall be subject to, and form part of, an agreement in the 1992 form of the
ISDA Master Agreement (the “Master Agreement” or “Agreement”) as if we had executed
an agreement in such form (but without any Schedule and with elections specified in the “ISDA
Master Agreement” Section of this Confirmation) on the Trade Date. In the event of any
inconsistency between the provisions of that Agreement and this Confirmation, this Confirmation
will prevail for the purpose of this Transaction. The parties hereby agree that the Transaction
evidenced by this Confirmation shall be the only Transaction subject to and governed by the
Agreement.

     The terms of the particular Transaction to which this Confirmation relates are as follows:

OTC Warrant Confirmation (2015)

 

 

	 	 	 
	General Terms: 
	 	 
	 
	 	 
	Trade Date:

	 	September 9, 2008
	 
	 	 
	Effective Date:

	 	September 9, 2008 subject to cancellation of the OTC
Warrant Transaction prior to 5:00 p.m. (New York City time)
on such date by the Dealer. In the event of such
cancellation, any payments previously made hereunder,
including the Premium, shall be returned to the person
making such payment. In addition, Counterparty shall
reimburse Dealer for any costs or expenses (including
market losses) relating to the unwinding of its hedging
activities in connection with the Transaction (including
any loss or cost incurred as a result of its terminating,
liquidating, obtaining or reestablishing any hedge or
related trading position).
	 
	 	 
	Warrant Style:

	 	European
	 
	 	 
	Warrant Type:

	 	Call
	 
	 	 
	Seller:

	 	Counterparty
	 
	 	 
	Buyer:

	 	Dealer
	 
	 	 
	Shares:

	 	Shares of Common Stock, $0.50 par value, of Counterparty
(Security Symbol: “MYL”).
	 
	 	 
	Number of Warrants:

	 	26,276,285 
	 
	 	 
	Daily Number of Warrants:

	 	For any day, the unexercised Number of Warrants on such day
divided by the remaining number of Expiration Dates
(including such day) and rounded down to the nearest whole
number, with the balance of the Number of Warrants
exercised on the final Expiration Date.
	 
	 	 
	Warrant Entitlement:

	 	One (1) Share per Warrant
	 
	 	 
	Strike Price:

	 	$20.00 
	 
	 	 
	Premium:

	 	$38,080,000 
	 
	 	 
	Premium Payment Date:

	 	The Effective Date; provided that no cancellation of the
Transaction has occurred prior to 5:00 p.m. (New York City
time) on such date by Dealer.
	 
	 	 
	Exchange:

	 	New York Stock Exchange
	 
	 	 
	Related Exchange(s):

	 	All Exchanges
	 
	 	 
	Full Exchange Business Day:

	 	A Scheduled Trading Day that has a scheduled closing time
for its regular trading session at 4:00 p.m. (New York City
time) or the then standard closing time for regular trading
on the Exchange and is not a Disrupted Day.
	 
	 	 
	Procedures for Exercise:
	 
	 	 
	Expiration Time:

	 	11:59 p.m. (New York City time).
	 
	 	 
	Expiration Dates:

	 	The 80 consecutive Full Exchange Business Days beginning on
and including December 15, 2015 each shall be the
Expiration Date for a number of Warrants

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	 	equal to the Daily
Number of Warrants on such date. For the avoidance of
doubt, the aggregate number of Expiration Dates hereunder
shall not be affected by the occurrence of a Disrupted Day
or other circumstance that causes a Scheduled Trading Day
not to be a Full Exchange Business Day.
	 
	 	 
	Exercise Dates:

	 	Each Expiration Date shall be an Exercise Date for a number
of Warrants equal to the Daily Number of Warrants on such
date. The Warrants shall not be exercised prior to the
first such Exercise Date.
	 
	 	 
	Automatic Exercise:

	 	Applicable; provided that Section 3.4(a) of the Equity
Definitions shall apply to Net Physical Settlement; and
provided further that, unless all Warrants have been
previously exercised hereunder, a number of Warrants for
each Expiration Date equal to the Daily Number of Warrants
for such Expiration Date shall be deemed to be
automatically exercised.

	 	 	 	 	 
	Counterparty’s Telephone

	 	Address:
	 	Mylan Inc.
	Number and Telex and/or

	 	 	 	1500 Corporate Drive
	Facsimile Number and

	 	 	 	Canonsburg, PA 15317
	Contact Details for

	 	Attention:
	 	Edward J. Borkowski, Chief Financial Officer
	purpose of Giving Notice:

	 	Facsimile No.:
	 	(724) 514-1871
	 

	 	Telephone No.:
	 	(724) 514-1870

	 	 	 
	Valuation:
	 	 
	 
	 	 
	Valuation Dates:

	 	Each Exercise Date 
	 
	 	 
	Settlement Terms:
	 	 
	 
	 	 
	Settlement Price:

	 	For each Valuation Date, the Rule 10b-18 Dollar Volume
Weighted Average Price of the Shares (“VWAP”) calculated
from 9:45 a.m. to 3:45 p.m., as observed under the heading
Bloomberg “VWAP” on Bloomberg page MYL.N <equity> VAP
(or any successor thereto) (or if such volume-weighted
average price is unavailable, the market value of one Share
on such Valuation Date, as determined by the Calculation
Agent); provided that, if the scheduled weekday closing
time of the Exchange for any Valuation Date is later than
4:00 p.m. (without regard to after hours or any other
trading outside of the regular trading session hours) the
VWAP shall be calculated for such Valuation Date from 9:45
a.m. until 15 minutes prior to such later closing time of
the Exchange. 
	 
	 	 
	 

	 	Section 6.3(a) of the Equity Definitions is hereby amended
by replacing clause (ii) in its entirety with “(ii) an
Exchange Disruption, or” and inserting immediately
following clause (iii) the phrase “; in each case that the
Calculation Agent determines is material.” 
	 
	 	 
	Settlement Method:

	 	Net Physical Settlement only. 
	 
	 	 
	Net Physical Settlement:

	 	Counterparty shall deliver to Dealer on the Settlement Date
a number of Shares (the “Delivered Shares”) equal to the
Share Delivery Quantity; provided that in the event that
the number of Shares calculated comprises any fractional
Share, only whole Shares shall be delivered and an amount
in cash equal to the value of such fractional share shall
be payable by the Counterparty to Dealer in lieu of such
fractional Share. If, in the reasonable opinion of Dealer
based on advice of counsel, for any reason, the Shares
deliverable upon Net Physical Settlement 

OTC Warrant Confirmation (2015)

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	 	would not be
immediately freely transferable by Dealer under Rule
144(b)(1) under the Securities Act of 1933, as amended (the
“Securities Act”), then Dealer may elect to either (x)
accept delivery of such Shares notwithstanding any
restriction on transfer or (y) have the provisions set
forth under “Registration/Private Placement” below apply,
mutatis mutandis. 
	 
	 	 
	Share Delivery Quantity:

	 	For each Exercise Date, a number of Shares, as calculated
by the Calculation Agent, equal to the Net Physical
Settlement Amount for such Exercise Date divided by the
Settlement Price on the Valuation Date in respect of such
Exercise Date plus an amount in cash in lieu of any
fractional shares (based on the applicable Settlement
Price). 
	 
	 	 
	Net Physical Settlement Amount:

	 	For any Exercise Date, an amount equal to the product of
(i) the Number of Warrants being exercised on the relevant
Exercise Date, (ii) the Strike Price Differential for such
Exercise Date and (iii) the Warrant Entitlement. 
	 
	 	 
	Strike Price Differential:

	 	For any Valuation Date, (i) if the Settlement Price is
greater than the Strike Price, an amount equal to the
excess of such Settlement Price over the Strike Price for
such Valuation Date or (ii) if such Settlement Price is
less than or equal to the Strike Price, zero. 
	 
	 	 
	Settlement Date:

	 	Settlement with respect to each Exercise Date shall occur
on the third (3rd) Full Exchange Business Day following the
final Valuation Date; provided that Dealer shall have the
right to request by prior written notice to Counterparty a
Settlement Date with respect to any Exercise Date and the
related Share Delivery Quantity that is three (3) Full
Exchange Business Days following such Exercise Date. Such
request shall not unreasonably be denied. 
	 
	 	 
	Limitations on Net Physical Settlement by Counterparty:

	 	Notwithstanding anything herein or in the Agreement to the
contrary, the number of Shares that may be delivered at
settlement by Counterparty shall not exceed 44,268,971
Shares at any time, as adjusted by Calculation Agent to
account for any subdivision, stock-split, stock
combination, reclassification or similar dilutive or
anti-dilutive event with respect to the Shares and as such
number may be increased by operation of the provisions set
forth below opposite the caption “Increases in Maximum
Deliverable Share Amount” (“Maximum Deliverable Share
Amount”). 
	 
	 	 
	 

	 	Counterparty represents and warrants that the number of
Available Shares as of the Trade Date is greater than the
Maximum Deliverable Share Amount. Counterparty covenants
and agrees that (i) Counterparty shall not take any action
of corporate governance or otherwise to reduce the number
of Available Shares below the Maximum Deliverable Share and
(ii) Counterparty shall use its reasonable efforts to cause
the number of Available Shares at all times to be greater
than the Maximum Deliverable Share Amount. 
	 
	 

	 	For this purpose, “Available Shares” means the number of
Shares Counterparty currently has authorized (but not
issued and outstanding) less the maximum number of Shares
that may be required to be issued by Counterparty in
connection with stock options, convertibles, and other
commitments of Counterparty that may require the issuance
or delivery of Shares in connection therewith (other than
the Transaction and any amendment thereto or new
confirmation evidencing the issuance by Counterparty to
Dealer of additional warrants within 30 days of September
3, 2008). 

OTC Warrant Confirmation (2015)

4

 

	 	 	 
	Increases in Maximum Deliverable Share Amount:

	 	Following the Trade Date, Counterparty agrees to use its
commercially reasonable efforts seek approval from its
shareholders (including, without limitation, to seek such
approval at its annual meeting of shareholders in 2009 and,
if needed, the annual meeting of shareholders for each
following calendar year) to increase the number of
authorized but unissued Shares such that the number of
Available Shares shall be equal to at least two times the
Number of Warrants that remain unexercised (the “2x
Condition”). Upon Counterparty obtaining such approval for
such an increase, the Maximum Deliverable Share Amount
shall automatically increase to two times the aggregate
Number of Warrants that remain unexercised. Counterparty
further agrees that following the Trade Date and until the
2x Condition is satisfied, 70% of the increase in the
number of authorized but unissued Shares and/or Shares that
are held in treasury that results from any of the events
described in clause (i), (ii) or (iii) below shall be
reserved solely for delivery in connection with the
Transaction, and the Maximum Deliverable Share Amount shall
be increased in each case by one-half of the number of such
additional authorized but unissued Shares. Until the 2x
Condition has been satisfied, Counterparty shall notify
Buyer no later than the third Business Day of each month of
the occurrence during the immediately preceding month of
any of the events described in clause (i), (ii) or (iii)
below if the aggregate effect of such events would be to
increase the number of additional but authorized Shares by
at least 10,000 Shares (including the number of additional
authorized but unissued Shares). In the event Counterparty
shall not have delivered the full number of Shares
otherwise deliverable under the Transaction as a result of
the “Limitations on Net Physical Settlement by
Counterparty” set forth above (the resulting deficit, the
“Deficit Shares”), Counterparty shall be continually
obligated to deliver, from time to time (and, for the
avoidance of doubt, irrespective of any early termination
or cancellation of the relevant Transaction or the
expiration of the relevant Warrants) until the full number
of Deficit Shares have been delivered pursuant to this
paragraph, Shares when, and to the extent, that (i) Shares
are repurchased, acquired or otherwise received by
Counterparty or any of its subsidiaries (including, without
limitation, pursuant to the settlement or termination of
any Share option or other derivative transactions) after
the Trade Date (whether or not in exchange for cash, fair
value or any other consideration), (ii) authorized and
unissued Shares reserved for issuance in respect of other
transactions prior to such date which prior to the relevant
date become no longer so reserved and (iii) Counterparty
additionally authorizes any unissued Shares that are not
reserved for other transactions. Until the full number of
Deficit Shares has been delivered pursuant to this
paragraph, Counterparty shall immediately notify Buyer of
the occurrence of any of the foregoing events (including
the number of Shares subject to clause (i), (ii) or (iii)
and the corresponding number of Shares to be delivered) and
promptly deliver such Shares thereafter. 
	 
	 	 
	Dividends:
	 	 
	 
	 	 
	Dividends:

	 	If at any time during the period from and including the
Trade Date, to and including the date on which Counterparty
has fully performed its obligations to deliver Shares
hereunder, an ex-dividend date for a cash dividend occurs
with respect to the Shares (an “Ex-Dividend Date”), and
that dividend is different from the Regular Dividend on a
per Share basis, then the Calculation Agent will, in its
reasonable discretion, adjust the Strike Price, the Number
of Warrants, the Daily Number of Warrants, the Warrant
Entitlement and any other variable it deems appropriate to
preserve the fair value of the Warrants after taking into
account such 

OTC Warrant Confirmation (2015)

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	 	dividend and any corresponding adjustment to
the Regular Dividend. 
	 
	 	 
	Regular Dividend:

	 	Initially USD $0.00 per Share per quarter in respect of the
Shares. In the event that, in any quarter, a regular
quarterly Ex-Dividend Date occurs for which the amount of
the corresponding cash dividend is different (the “New
Dividend Amount”) from the Regular Dividend or no
Ex-Dividend Date occurs (in which case the New Dividend
Amount shall be zero), then following the adjustment by the
Calculation Agent pursuant to “Dividends” above, the
Regular Dividend shall equal the New Dividend Amount. 
	 
	 	 
	Extraordinary Dividends:

	 	Any dividend other than Regular Dividends. For the
avoidance of doubt, if more than one Ex-Dividend Date
occurs in a quarter, the Calculation Agent shall designate
any cash dividend other than a Regular Dividend as an
Extraordinary Dividend and will, in its reasonable
discretion, adjust the Strike Price, the Number of
Warrants, the Daily Number of Warrants, the Warrant
Entitlement and any other variable it deems appropriate to
preserve the fair value of the Warrants after taking into
account such Extraordinary Dividend. 
	 
	 	 
	Adjustments:
	 	 
	 
	 	 
	Method of Adjustment:

	 	Calculation Agent Adjustment 
	 
	 	 
	Extraordinary Events:
	 	 
	 
	 	 
	Consequences of Merger
Events:

	 	(a)
Share-for-Share:      Modified Calculation
Agent Adjustment

(b) Share-for-Other:      Cancellation and Payment (Calculation
Agent Determination) 
	 
	 	 
	 

	 	(c) Share-for-Combined: Cancellation and Payment
(Calculation Agent Determination); provided that the
Calculation Agent may elect Component Adjustment for all or
part of the Transaction. 
	 
	 	 
	Tender Offer:

Consequences of Tender Offers:

	 	Applicable

(a) Share-for-Share:              Modified Calculation Agent Adjustment 
	 
	 

	 	(b) Share-for-Other:              Modified Calculation Agent Adjustment 
	 
	 

	 	(b) Share-for-Combined:      Modified Calculation Agent Adjustment
	 
	 	 
	 

	 	With respect to any Extraordinary Events hereunder, upon
the occurrence of Cancellation and Payment in whole or in
part, the parties agree that the amount to be paid, in
accordance with the Equity Definitions, shall constitute a
Transaction Early Termination Amount, subject to
satisfaction by the payment or delivery of Shares or cash
as set forth in the Early Termination section below. 
	 
	 	 
	Modified Calculation Agent Adjustment:

	 	If, in respect of any Merger Event to which Modified
Calculation Agent Adjustment applies, the adjustments to be
made in accordance with Section 12.2(e)(i) of the Equity
Definitions would result in the Counterparty being
different from the issuer of the Shares, then with respect
to such Merger Event, as a condition precedent to the
adjustments contemplated in Section 12.2(e)(i) of the 

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6

 

	 	 	 
	 

	 	Equity Definitions, Dealer and the Counterparty shall,
prior to the Merger Date, have entered into such
documentation containing representations, warranties and
agreements relating to securities law and other issues as
requested by Dealer that Dealer has determined, in its
reasonable discretion, to be reasonably necessary or
appropriate to allow Dealer to continue as a party to the
Transaction, as adjusted under Section 12.2(e)(i) of the
Equity Definitions, and to preserve its hedging or hedge
unwind activities in connection with the Transaction in a
manner compliant with applicable legal, regulatory or
self-regulatory requirements, or with related policies and
procedures applicable to Dealer, and if such conditions are
not met or if the Calculation Agent determines that no
adjustment that it could make under Section 12.2(e)(i) of
the Equity Definitions will produce a commercially
reasonable result, then the consequences set forth in
Section 12.2(e)(ii) of the Equity Definitions shall apply. 
	 
	 	 
	Nationalization, Insolvency or Delisting:

	 	Cancellation and Payment (Calculation Agent Determination)
(subject to satisfaction by payment or delivery of Shares
or cash as set forth in “Early Termination” below). In
addition to the provisions of Section 12.6(a)(iii) of the
Equity Definitions, it will also constitute a Delisting if
the Exchange is located in the United States and the Shares
are not immediately re-listed, re-traded or re-quoted on
any of the New York Stock Exchange, the American Stock
Exchange, the NASDAQ Global Market or the NASDAQ Global
Select Market (or their respective successors); if the
Shares are immediately re-listed, re-traded or re-quoted on
any such exchange or quotation system, such exchange or
quotation system shall thereafter be deemed to be the
Exchange. 
	 
	 	 
	Determining Party:

	 	Dealer 
	 
	 	 
	Additional Disruption  Events:
	 	 
	 
	 	 
	Change in Law:

	 	Applicable 
	 
	 	 
	Failure to Deliver:

	 	Not Applicable 
	 
	 	 
	Insolvency Filing:

	 	Applicable 
	 
	 	 
	Hedging Disruption Event:

	 	Applicable 
	 
	 	 
	Increased Cost of Hedging:

	 	Not Applicable 
	 
	 	 
	Loss of Stock Borrow:

	 	Applicable. Section 12.9(b)(iv) of the Equity Definitions
is hereby amended by deleting the text from and including
“(A)” to and including “(B)” and by deleting the words “in
each case”. 
	 
	 	 
	Maximum Stock Loan Rate:

	 	1.00% 
	 
	 	 
	Increased Cost of Stock
Borrow:

	 	Applicable; provided that it shall be a condition to
Counterparty’s right to make the election described in
clause (C) of Section 12.9(b)(v) of the Equity Definitions
that on the date of such election, none of Counterparty,
its directors, executive officers, or any person
controlling, or exercising influence over, its decision to
make such election is in possession of any material
non-public information with respect to Counterparty or the
Shares; and provided further that, if Counterparty timely
makes the election described in clause (A) or (B) of
Section 12.9(b)(v) of the Equity Definitions, Counterparty
shall thereafter remain entitled, subject to the foregoing
condition, to terminate the Transaction pursuant to Section
12.9(b)(v)(C) of the Equity Definitions upon five Scheduled
Trading Days’ notice to Dealer.

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	 	Section 12.9(b)(v) of the
Equity Definitions is hereby amended by deleting the text
from and including “(X)” to and including “(Y)”. 
	 
	 	 
	Initial Stock Loan Rate:

	 	0.25% 
	 
	 	 
	Hedging Party:

	 	Dealer 
	 
	 	 
	Determining Party:

	 	Dealer 
	 
	 	 
	Non-Reliance:

	 	Applicable 
	 
	 	 
	Agreements
and Acknowledgments Regarding Hedging Activities:
	 	Applicable 
	 
	 	 
	Additional Acknowledgments:

	 	Applicable 
	 
	 	 
	Other Provisions:
	 	 
	 
	 	 
	Additional Agreements:

	 	If Counterparty would be obligated to pay cash to Dealer
pursuant to the terms of this Agreement due to an event or
circumstance outside Counterparty’s control (or, subject to
Dealer’s consent not to be unreasonably withheld or
delayed, an event within Counterparty’s control) without
having had the right (other than pursuant to this
paragraph) to elect to deliver Shares in satisfaction of
such payment obligation, then Counterparty may elect to
deliver to Dealer a number of Shares (whether registered or
unregistered) having a cash value equal to the amount of
such payment obligation. Such number of Shares to be
delivered shall be the number of Shares, determined by the
Calculation Agent, sufficient for Dealer to realize the
cash equivalent of such payment obligation from proceeds of
the sale of such number of Shares over a reasonable period
of time taking into account any applicable discount
(determined in a commercially reasonable manner) to reflect
any restrictions on transfer as well as the market value of
the Shares. Settlement relating to any delivery of Shares
pursuant to this paragraph shall occur within a reasonable
period of time. The number of Shares delivered pursuant to
this paragraph shall not exceed the Maximum Deliverable
Share Amount and shall be subject to the provisions under
“Registration/Private Placement” hereof regarding Proceeds
Amount and the provisions set forth in subsection (c) under
“Additional Agreements, Representations and Covenants of
Counterparty, Etc.” below. If the event giving rise to
such payment obligation has resulted in holders of Shares
receiving property (including cash) in exchange for Shares,
then Counterparty shall satisfy its obligation pursuant to
this paragraph by delivering such property; provided that
if such event involves a choice of consideration, Dealer
shall be entitled to receive the respective amounts of each
type of property comprised in such consideration that
holders of Shares in the aggregate are entitled to receive. 
	 
	 	 
	Early Termination:

	 	Notwithstanding any provision to the contrary, upon the
designation of an Early Termination Date or the occurrence
of Cancellation and Payment in whole or in part hereunder
(except in the case of an Event of Default in which
Counterparty is the Defaulting Party or a Termination Event
in which Counterparty is the Affected Party, other than an
(x) Event of Default of the type described in Section
5(a)(iii), (v), (vi) or (vii) of the Master Agreement or
(y) a Termination Event of the type described in Section
5(b)(i), (ii), (iii), (iv), or (v) of the Master Agreement
that in the case of either (x) or (y) resulted from an
event or events outside Counterparty’s 

OTC Warrant Confirmation (2015)

8

 

	 	 	 
	 

	 	control),
Counterparty’s payment obligation in respect of this
Transaction (the “Transaction Early Termination Amount”)
may, at the option of Counterparty, be satisfied by the
delivery of a number of Shares equal to the Transaction
Early Termination Amount divided by the Termination Price
(“Early Termination Stock Settlement”); provided, however,
that Counterparty must notify Dealer of its election of
Early Termination Stock Settlement by the close of business
on the day that is two Exchange Business Days following the
day that the notice designating the Early Termination Date,
or notice that an Extraordinary Event has resulted in the
cancellation or termination of the Transaction in whole or
in part, is effective; provided further, however, that in
no event shall Counterparty be required to deliver to
Dealer a number of Shares greater than the Maximum
Deliverable Share Amount. “Termination Price” means the
market value per Share on the date that Shares are
delivered in connection with such Early Termination Date,
as determined by the Calculation Agent in a commercially
reasonable manner taking into account any applicable
discount to reflect any restrictions on transfer. 
	 
	 	 
	 

	 	A number of Shares calculated as being due in respect of
any Early Termination Stock Settlement will be deliverable
on the third Clearance System Business Day following the
date that notice specifying the number of Shares
deliverable is effective; provided that, if Counterparty is
delivering Shares as a result of a Merger Event, Tender
Offer, Nationalization or Insolvency, the Settlement Date
for such delivery will be immediately prior to the
effective date or settlement date for such event and Dealer
shall be entitled to receive the type of consideration that
a holder of Shares at such time would be entitled to
receive (and references herein to Shares shall be deemed to
refer to such consideration, as applicable); provided that
if such event involves a choice of consideration, Dealer
shall be entitled to receive the respective amounts of each
type of property (including cash) comprised in such
consideration that holders of Shares in the aggregate are
entitled to receive. Section 6(d)(i) of the Agreement is
hereby amended by adding the following words after the word
“paid” in the fifth line thereof: “or any delivery is to be
made, as applicable.” The number of Shares delivered
pursuant Early Termination Stock Settlement shall not
exceed the Maximum Deliverable Share Amount and shall be
subject to the provisions under “Registration/Private
Placement” hereof regarding Proceeds Amount and the
provisions set forth in subsection (c) under “Additional
Agreements, Representations and Covenants of Counterparty,
Etc.” below. 
	 
	 	 
	 

	 	On or prior to the Early Termination Date or date on which
notice that an Extraordinary Event has resulted in the
cancellation or termination of the Transaction in whole or
in part is effective, as applicable, if Early Termination
Stock Settlement is elected and if so requested by Dealer
upon advice of counsel, Counterparty shall comply with the
provisions set forth below opposite the caption
“Registration/Private Placement”. 
	 
	 	 
	Registration/Private Placement:

	 	If the provisions under this heading “Registration/Private
Placement” apply, Counterparty shall (subject to its right
to make the election described in the immediately
succeeding paragraph) (A) afford Dealer a reasonable
opportunity to conduct a due diligence investigation with
respect to Counterparty that is customary in scope for
underwritten offerings of equity securities; (B) enter into
a registration rights agreement with Dealer (a “Registered
Settlement”) in form and substance reasonably acceptable
to Dealer which agreement (“Registration Rights Agreement”)
will contain among other things, reasonable customary
representations and warranties and indemnification,
restrictions on sales during “blackout dates” as provided
for in the Registration Rights Agreement and shall satisfy
the conditions contained therein; and (C) promptly file and
use its

OTC Warrant Confirmation (2015)

9

 

	 	 	 
	 

	 	commercially reasonable efforts to obtain the
effectiveness a Registration Statement pursuant to Rule 415
under the Securities Act. If and when such Registration
Statement shall have been declared effective by the
Securities and Exchange Commission, Counterparty shall have
made available to Dealer such Prospectuses as Dealer may
reasonably request to comply with the applicable prospectus
delivery requirements for the resale by Dealer of such
number of Shares as Dealer shall specify (or, if greater,
the number of Shares that Counterparty shall specify). Such
Registration Statement shall be effective and Prospectus
shall be current until the earliest of the date on which
(i) all the Delivered Shares or Shares delivered by
Counterparty in connection with an Early Termination Date,
as the case may be, have been sold, (ii) Dealer has advised
Counterparty that it no longer requires that such
Registration Statement be effective, (iii) all remaining
Shares could be sold by Dealer without registration
pursuant to Rule 144 promulgated under the Securities Act
(the “Termination Registration Period”) or (iv)
Counterparty has provided a legal opinion of nationally
recognized counsel reasonably acceptable to Dealer in form
and substance reasonably acceptable to Dealer (with
customary assumptions and exceptions) that the Shares
issuable upon exercise of these Warrants will be freely
tradable under the Securities Act upon delivery to MLI and
not subject to any legend restricting transferability. It
is understood that the Registration Statement and
Prospectus will cover a number of Shares equal to the
aggregate number of Shares (if any) reasonably estimated by
Dealer to be potentially deliverable by Counterparty in
connection with Net Physical Settlement or Early
Termination Stock Settlement hereunder, as the case may be,
but in no event exceeding the Maximum Deliverable Share
Amount. On each day during the Termination Registration
Period Counterparty shall represent that each of its
filings under the Securities Act, the Exchange Act or other
applicable securities laws that are required to be filed
have been filed and that, as of the respective dates
thereof and as of the date of this representation, they do
not contain any untrue statement of a material fact or
omission of a material fact required to be stated therein
or necessary to make the statements made, in the light of
the circumstances under which they were made, not
misleading.
	 
	 	 
	 

	 	In lieu of a Registered Settlement, Counterparty may elect,
by notice to Dealer no later than the time the relevant
delivery obligation is due , that this paragraph shall
apply:

	 	 	 
	 

	 	(a) Counterparty shall afford Dealer and any potential
institutional purchaser of any Shares identified by Dealer
a reasonable opportunity to conduct a due diligence
investigation with respect to Counterparty that is
customary in scope for private placements of equity
securities subject to execution of any customary
confidentiality agreements;
	 
	 	 
	 

	 	(b) Counterparty shall enter into an agreement (a “Private
Placement Agreement”) with Dealer on commercially
reasonable terms in connection with the private placement
of such Shares (including any additional Shares pursuant to
clause (c) below) by Counterparty to Dealer or an affiliate
and the private resale of such shares by Dealer or such
affiliate, substantially similar to private placement
purchase agreements customary for private placements of
equity securities by a publicly reporting company (if
Counterparty is a publicly reporting company at such time)
to institutional purchasers, in form and substance
commercially reasonably satisfactory to Dealer, which
Private Placement Agreement shall include provisions
relating to the indemnification of, and contribution in
connection with the liability of, Dealer and its
affiliates, shall provide for the payment by Counterparty
of all expenses in

OTC Warrant Confirmation (2015)

10

 

	 	 	 
	 

	 	connection with such resale, including
all reasonable and documented fees and expenses of counsel
for Dealer, shall contain representations, warranties and
agreements of Counterparty reasonably necessary
or
advisable to establish and maintain the availability of an
exemption from the registration requirements of the
Securities Act for such resales, and shall use commercially
reasonable efforts to provide for the delivery of
accountants’ “comfort letters” to Dealer or such affiliate
with respect to the financial statements and certain
financial information contained in or incorporated by
reference into the offering memorandum prepared for the
resale of such Shares;
	 
	 	 
	 

	 	(c) Dealer shall sell the Delivered Shares or the
Shares delivered by Counterparty in connection with Early
Termination Stock Settlement, as the case may be, in a
commercially reasonable manner until the amount received by
Dealer for the sale of the Shares (the “Proceeds Amount”)
is equal to the Net Physical Settlement Amount or the
Transaction Early Termination Amount, as applicable. Any
remaining delivered Shares shall be returned to
Counterparty. If the Proceeds Amount is less than the Net
Physical Settlement Amount or the Transaction Early
Termination Amount, as applicable, Counterparty shall
promptly deliver upon notice from Dealer additional Shares
to Dealer until the dollar amount from the sale of such
Shares by Dealer equals the difference between the Net
Physical Settlement Amount or the Transaction Early
Termination Amount, as applicable, and the Proceeds Amount.
In no event shall Counterparty be required to deliver to
Dealer a number of Shares greater than the Maximum
Deliverable Share Amount.

	 	 	 
	 

	 	Notwithstanding the foregoing: (I) if Counterparty has
elected to deliver Shares as described in paragraph (a)
above and either (A) Counterparty does not provide for the
sale of the Shares under the Registration Statement as
provided in the Registration Rights Agreement, (B) the due
diligence investigation referred to in clause (A) of the
second preceding paragraph does not yield a result
reasonably satisfactory to Dealer, (C) some Shares cannot
be registered under the Registration Statement due to Rule
415(a)(4) under the Securities Act or (D) some Shares
cannot be sold due to the application of a blackout period
or the failure of the Registration Statement to become
effective on or prior to the date on which the relevant
delivery obligation is due, then the provisions of the
preceding paragraph shall apply to the extent Counterparty
has not satisfied its obligations hereunder. (II) If the
preceding paragraph is applicable and Counterparty fails to
satisfy its obligations under such paragraph, then
Counterparty may deliver unregistered Shares of equivalent
value to the Net Physical Settlement Amount or the
Transaction Early Termination Amount, as applicable, (or,
if applicable, the unsatisfied portion thereof). The value
of any unregistered Shares so delivered shall be discounted
to reflect an appropriate liquidity discount (determined by
Dealer in a commercially reasonable manner, taking into
account Dealer’s policies and determinations with respect
to any transfer restrictions that Dealer deems it
advisable, based on the advice of counsel, to observe in
connection with sales of such Shares). (III) If some or all
of the Delivered Shares or Shares delivered in connection
with an Early Termination Stock Settlement, as applicable,
cannot be used to close out stock loans in the shares of
Counterparty entered into to establish or maintain short
positions by Dealer in connection with this Transaction
without a prospectus being required by applicable law to be
delivered to such lender, then the value of any such Shares
shall reflect the cost (determined by Dealer in good faith
and in a commercially reasonable manner) to Dealer of
trading Shares in order to close out its hedge position if
any, and the number of Shares required to be

OTC Warrant Confirmation (2015)

11

 

	 	 	 
	 

	 	delivered
shall be adjusted accordingly. In no event shall
Counterparty be required to (i) top-up the delivery in cash
or (ii) deliver to Dealer a number of Shares greater than
the Maximum Deliverable Share Amount.
	 
	 	 
	Compliance With Securities Laws:

	 	Counterparty represents and agrees that it has complied,
and will comply, in connection with this Transaction and
all related or contemporaneous sales and purchases of
Shares, with the applicable provisions of the Securities
Act, the Exchange Act and the rules and regulations
promulgated thereunder, including, without limitation, Rule
10b-5 and 13e and Regulation M under the Exchange Act.
	 
	 	 
	 

	 	Each party acknowledges that the offer and sale of the
Transaction to it is intended to be exempt from
registration under the Securities Act by virtue of Section
4(2) thereof. Accordingly, each party represents and
warrants to the other party that (i) it has the financial
ability to bear the economic risk of its investment in the
Transaction and is able to bear a total loss of its
investment, (ii) it is an “accredited investor” as that
term is defined in Regulation D as promulgated under the
Securities Act and (iii) the disposition of the Transaction
is restricted under this Confirmation, the Securities Act
and state securities laws.
	 
	 	 
	 

	 	Counterparty further represents and warrants that:
	 
	 	 
	 

	 	(a) Counterparty is not entering into this Transaction to
create actual or apparent trading activity in the Shares
(or any security convertible into or exchangeable for
Shares) or to raise or depress or otherwise manipulate the
price of the Shares (or any security convertible into or
exchangeable for Shares);
	 
	 	 
	 

	 	(b) Counterparty represents and acknowledges that as of the
date hereof and without limiting the generality of Section
13.1 of the Equity Definitions, Dealer is not making any
representations or warranties with respect to the treatment
of the Transaction under FASB Statements 149, 150 or 157,
EITF Issue No. 00-19 (or any successor issue statements),
under FASB’s Liabilities & Equity Project or under any
other accounting standards or guidance;
	 
	 	 
	 

	 	(c) Counterparty is not, and after giving effect to the
Transaction contemplated hereby, will not be, an
“investment company” as such term is defined in the
Investment Company Act of 1940, as amended;
	 
	 	 
	 

	 	(d) As of the Trade Date and each date on which a payment
of cash is made by Counterparty hereunder, (i) the assets
of Counterparty at their fair valuation exceed the
liabilities of Counterparty, including contingent
liabilities; (ii) the capital of Counterparty is adequate
to conduct its business; and (iii) Counterparty has the
ability to pay its debts and other obligations as such
obligations mature and does not intend to, or believe that
it will,
incur debt or other obligations beyond its ability
to pay as such obligations mature.
	 
	 	 
	 
	 	 
	Account Details:

	 	Account for payments to Counterparty:
	 

	 	     Account Name: Mylan Laboratories Inc.
	 

	 	     Bank Name: Huntington National Bank
	 

	 	     ABA#: 44000024
	 

	 	     A/C #: 1411114335
	 

	 	     Swift code: HUNTUS33

OTC Warrant Confirmation (2015)

12

 

	 	 	 
	 

	 	Account for payments to Dealer:
	 

	 	     Merrill Lynch International
	 

	 	     Chase Manhattan Bank, New York
	 

	 	     ABA# 021-000-021
	 

	 	     Acct# 066213118
	 
	 	 
	 

	 	Account for delivery of Shares to Dealer:
	 
	 	 
	 

	 	     [To be advised.]
	 
	 	 
	Agreement Regarding Shares:

	 	Counterparty agrees that, in respect of any Shares
delivered to Dealer, such Shares shall be, upon such
delivery, duly and validly authorized, issued and
outstanding, fully paid and non-assessable and subject to
no adverse claims of any other party. The issuance of such
Shares does not and will not require the consent, approval,
authorization, registration or qualification of any
government authority, except such as shall have been
obtained on or before the delivery date of any Shares or as
may be required in connection with any Registration
Statement filed with respect to any Shares.
	 
	 	 
	Bankruptcy Rights:

	 	In the event of Counterparty’s bankruptcy, Dealer’s rights
in connection with this Transaction shall not exceed those
rights held by common shareholders. For the avoidance of
doubt, the parties acknowledge and agree that Dealer’s
rights with respect to any other claim arising from this
Transaction prior to Counterparty’s bankruptcy shall remain
in full force and effect and shall not be otherwise
abridged or modified in connection herewith.
	 
	 	 
	Set-Off:

	 	Each party waives any and all rights it may have to
set-off, whether arising under any agreement, applicable
law or otherwise.
	 
	 	 
	Transfer:

	 	Neither party may transfer its rights or delegate its
obligations under this Transaction without the prior
written consent of the other party, except that Dealer,
after payment in full of the Premium, may assign its rights
and delegate its obligations hereunder, in whole or in
part, to any other person (an “Assignee”) with the prior
consent of the Counterparty (such consent not to be
unreasonably withheld or delayed). In addition, Dealer may
assign and delegate its rights and obligations under this
Transaction to any subsidiary of ML & Co. (the “Assignee”)
by notice specifying the effective date of such transfer
(“Transfer Effective Date”) and including an (i) executed
acceptance and assumption by the Assignee of such rights
and obligations; provided that (i) Counterparty will not,
as a result of such transfer, be required to pay to the
Assignee an amount in respect of an Indemnifiable Tax under
Section 2(d)(i)(4) of the Agreement (except in respect of
interest under Section 2(e), 6(d)(ii), or 6(e)) greater
than the amount in respect of which Counterparty would have
been required to pay to Dealer in the absence of such
transfer; and (ii) the Assignee will not, as a result of
such transfer, be required to withhold or deduct on account
of a Tax under Section 2(d)(i) of the Agreement (except in
respect of interest under Section 2(e), 6(d)(ii), or 6(e))
an amount in excess of that which Dealer would have been
required to withhold or deduct in the absence of such
transfer, unless the Assignee would be required to make
additional payments pursuant to Section 2(d)(i)(4) of the
Agreement corresponding to such excess.
	 
	 	 
	 

	 	On the Transfer Effective Date, (a) Dealer shall be
released from all obligations

 OTC Warrant Confirmation (2015)

13

 

	 	 	 
	 

	 	and liabilities arising under
this Transaction; and (b) the assigned and delegated rights
and obligations under this Transaction shall cease to be a
Transaction under the Agreement and shall be deemed to be a
Transaction under an ISDA form of Master Agreement
(Multicurrency-Cross Border) and Schedule substantially in
the form of the Agreement but amended to reflect the name
of the Assignee and the address for notices and any amended
representations under Part 2 of the Agreement as may be
specified in the notice of transfer.

Notwithstanding any other provision in this Confirmation to
the contrary requiring or allowing Dealer to purchase,
sell, receive or deliver any Shares or other securities to
or from Counterparty, Dealer may designate any of its
affiliates to purchase, sell, receive or deliver such
Shares or other securities and otherwise to perform
Dealer’s obligations in respect of this Transaction and any
such designee may assume such obligations. Dealer shall be
discharged of its obligations to Counterparty to the extent
of any such performance.
	 
	 	 
	Indemnity:

	 	Counterparty agrees to indemnify Dealer, its Affiliates and
their respective directors, officers, agents and
controlling parties (each such person being an “Indemnified
Party”) from and against any and all losses, claims,
damages and liabilities, joint and several, to which such
Indemnified Party may become subject because of a breach of
any representation or covenant hereunder, in the Agreement
or any other agreement relating to the Agreement or
Transaction and will reimburse Indemnified Party for all
reasonable expenses (including reasonable legal fees and
expenses) as they are incurred in connection with the
investigation of, preparation for, or defense of, any
pending or threatened claim or any action or proceeding
arising therefrom, whether or not such Indemnified Party is
a party thereto. Seller will not be liable under the
foregoing Indemnity provision to the extent that any loss,
claim, damage, liability or expense is found in a final
judgment by a court to have resulted from Dealer’s gross
negligence or willful misconduct.
	 
	 	 
	Right to Extend:

	 	Dealer may postpone, in whole or in part, any Expiration
Date or any other date of valuation or delivery with
respect to some or all of the relevant Warrants (in which
event the Calculation Agent shall make appropriate
adjustments to the Daily Number of Warrants with respect to
one or more Expiration Dates) if Dealer determines, in its
commercially reasonable judgment, that such extension is
reasonably necessary or appropriate to preserve Dealer’s
hedging or hedge unwind activity hereunder in light of
existing liquidity conditions or to enable Dealer to effect
purchases of Shares in connection with its hedging, hedge
unwind or settlement activity hereunder in a manner that
would, if Dealer were Issuer or an affiliated purchaser of
Issuer, be in compliance with applicable legal, regulatory
or self-regulatory requirements, or with related policies
and procedures applicable to Dealer.

Additional Agreements, Representations and Covenants of Counterparty, Etc.: 

	(a)	 	Counterparty hereby represents and warrants to Dealer, on each day from the Trade Date to and
including the earlier of (i) October 7, 2008 and (ii) the date by which Dealer is able to
initially complete a hedge of its position created by this Transaction, that:

	 	(1)	 	it will not, and will not permit any person or entity subject to its control
to, bid for or purchase Shares during such period except pursuant to transactions or
arrangements which have been approved by Dealer or an affiliate of Dealer; and
	 
	 	(2)	 	it has publicly disclosed all material information necessary for it to be able
to purchase or sell Shares in compliance with applicable federal securities laws.

OTC Warrant Confirmation (2015)

14

 

	(b)	 	No collateral shall be required by either party for any reason in connection with this
Transaction.
	 
	(c)	 	Notwithstanding anything to the contrary herein, Dealer shall not be entitled to receive, nor
shall be deemed to receive, any Shares deliverable hereunder to the extent (but only to the
extent) that after such receipt of any Shares Dealer’s Ownership Percentage (as defined below)
would exceed 8.5% (an “Excess Ownership Position”). The “Ownership
Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of
which is the greater of (1) the number of Shares that Dealer and any of its affiliates subject
to aggregation with Dealer for purposes of the “beneficial ownership” test under Section 13 of
the Exchange Act and all persons who may form a “group” (within the meaning of Rule
13d-5(b)(1) under the Exchange Act but excluding any group formed for the affirmative purpose
of changing or influencing control of the Issuer) with Dealer (collectively, “Dealer Group”)
“beneficially own” (within the meaning of Section 13 of the Exchange Act) without duplication
on such day and (2) the number of shares that Dealer and all persons comprising part of the
same “acquiring person” as Dealer “beneficially own”, as each such term is used in
Counterparty’s Rights Agreement between the Counterparty and American Stock Transfer & Trust
Company dated as of August 22, 1996, as amended as of November 8, 1999, August 13, 2004,
September 8, 2004, December 2, 2004 and December 19, 2005 (as so amended and as may be
subsequently amended, supplemented or replaced from time to time, the “Rights
Agreement”), on such day and (B) the denominator of which is the number of Shares
outstanding on such day.
	 
	 	 	If any delivery owed to Dealer hereunder is not made, in whole or in part, as a result of
this provision, Counterparty’s obligation to make such delivery shall not be extinguished and
Counterparty shall make such delivery as promptly as practicable after Dealer gives notice
that such delivery would not result in the existence of an Excess Ownership Position.

Amendments to Equity Definitions: 

(i) The first sentence of Section 11.2(c) of the Equity Definitions, prior to clause (A) thereof,
is hereby amended to read as follows: ‘(c) If “Calculation Agent Adjustment” is specified as the
Method of Adjustment in the related Confirmation of a Share Option Transaction, then following the
announcement or occurrence of any Potential Adjustment Event, the Calculation Agent will determine
whether such Potential Adjustment Event has a material effect on the theoretical value of the
relevant Shares or options on the Shares and, if so, will (i) make appropriate adjustment(s), if
any, to any one or more of:’ and, the portion of such sentence immediately preceding clause (ii)
thereof is hereby amended by deleting the words “diluting or concentrative” and replacing them with
“material”, and deleting the words “(provided that no adjustments will be made to account solely
for changes in volatility, expected dividends, stock loan rate or liquidity relative to the
relevant Shares)” and replacing such latter phrase with the words “(and, for the avoidance of
doubt, adjustments may be made to account solely for changes in volatility, expected dividends,
stock loan rate or liquidity relative to the relevant Shares)”;

(ii) Sections 11.2(a) and 11.2(e)(vii) of the Equity Definitions are hereby amended by deleting the
words “diluting or concentrative” and replacing them with “material” and adding the phrase “or
options on the Shares” at the end of the sentence.

Matters Relating to Agent: 

	1.	 	Agent will be responsible for the operational aspects of the Transactions effected through
it, such as record keeping, reporting, and confirming Transactions to Counterparty and Dealer;
	 
	2.	 	Unless Counterparty is a “major U.S. institutional investor,” as defined in Rule 15a-6 of the
Exchange Act, neither Counterparty nor Dealer will contact the other without the direct
involvement of Agent;
	 
	3.	 	Agent’s sole role under this Agreement and with respect to any Transaction is as an agent of
Counterparty and Dealer on a disclosed basis and Agent shall have no responsibility or
liability to Counterparty or Dealer
hereunder except for gross negligence or willful misconduct in the performance of its duties
as agent. Agent is authorized to act as agent for Dealer, but only to the extent expressly
required to satisfy the requirements of

OTC Warrant Confirmation (2015)

15

 

	 	 	Rule 15a-6 under the Exchange Act in respect of the
Options described hereunder. Agent shall have no authority to act as agent for Counterparty
generally or with respect to transactions or other matters governed by this Agreement,
except to the extent expressly required to satisfy the requirements of Rule 15a-6 or in
accordance with express instructions from Counterparty.

Regulation:

MLI is regulated by The Securities and Futures Authority Limited.

ISDA Master Agreement: 

With respect to the Agreement, Dealer and Counterparty each agree as follows:

“Specified Entity” means in relation to Seller and in relation to Counterparty for purposes of this
Transaction: Not applicable.

The provisions of “Default under Specified Transaction” as set forth in Section 5(a)(v) of the
Agreement shall not apply to Dealer or Counterparty.

The “Cross Default” provisions of Section 5(a)(vi) of the Agreement will apply to
Counterparty; provided that the text of Section 5(a)(vi) following the words “occurrence or
existence of” in the second line thereof through the end of such Section 5(a)(vi) shall be replaced
in its entirety by the following:

one or more defaults under any of the agreements, indentures or instruments under which
Issuer or any “significant subsidiary” (as such term is defined in Regulation S-X
promulgated under the Securities Act of 1933) of Issuer then has outstanding indebtedness in
excess of $50 million, individually or in the aggregate, and either (a) such default results
from the failure to pay such indebtedness at its stated final maturity and such default has
not been cured or the indebtedness repaid in full within ten days of the default or (b) such
default or defaults have resulted in the acceleration of the maturity of such indebtedness
and such acceleration has not been rescinded or such indebtedness repaid in full within ten
days of the acceleration;

The “Credit Event Upon Merger” provisions of Section 5(b)(v) of the Agreement will not
apply to Dealer or to Counterparty.

Payments on Early Termination. For the purpose of Section 6(e) of the Agreement: (i) Loss
shall apply; and (ii) the Second Method shall apply.

Additional Termination Events.

The occurrence of any of the following shall constitute an Additional Termination Event with
respect to which the Transaction shall be the sole Affected Transaction and Counterparty shall be
the sole Affected Party; provided that with respect to any Additional Termination Event,
Dealer may choose to treat part of the Transaction as the sole Affected Transaction, and, upon the
termination of the Affected Transaction, a Transaction with terms identical to those set forth
herein except with a Number of Warrants equal to the unaffected number of Warrants shall be treated
for all purposes as the Transaction, which shall remain in full force and effect:

     (i) within the period commencing on the Trade Date and ending on the second anniversary
of the Premium Payment Date, Buyer reasonably determines that it is advisable to terminate a
portion of the Transaction so that Buyer’s related hedging activities will comply with
applicable securities laws, rules or regulations; or

     (ii) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under
the Exchange Act), directly or indirectly, of voting stock representing 50% or more of the
total voting power of all outstanding voting stock of the Issuer, other than an acquisition by
the Issuer, any of the Issuer’s subsidiaries or any of the Issuer’s employee
benefit plans; provided that this clause (ii) shall not apply to a merger of the Issuer
with or into a wholly-owned

OTC Warrant Confirmation (2015)

16

 

subsidiary of an issuer that has a class of common stock or
American Depositary Receipts in respect of common stock traded on the New York Stock Exchange,
NASDAQ Global Select Market, NASDAQ Global Market or the American Stock Exchange if
immediately following the transaction or series of transactions the holders of the Issuer’s
common stock immediately before such transaction are entitled to exercise, directly or
indirectly, 50% or more of the voting power of all shares of capital stock entitled to vote
generally in the election of directors of such issuer; or

     (iii) the Issuer consolidates with, or merges with or into, another person or the Issuer
sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all
of its assets to any person, other than any such transaction where immediately after such
transaction the person or persons that “beneficially owned” (as defined in Rules 13d-3 and
13d-5 under the Exchange Act) immediately prior to such transaction, directly or indirectly,
voting stock representing a majority of the total voting power of all outstanding voting stock
of Counterparty, “beneficially own or owns” (as so determined), directly or indirectly, voting
stock representing a majority of the total voting power of the outstanding voting stock of the
surviving or transferee person and such surviving or transferee person has a class of common
stock or American Depositary Receipts in respect of common stock traded on the New York Stock
Exchange, NASDAQ Global Select Market, NASDAQ Global Market or the American Stock Exchange; or

     (iv) the adoption of a plan of liquidation or dissolution of the Issuer; or

     (v) during any consecutive two-year period, the continuing directors cease for any reason
to constitute a majority of the board of directors of the Issuer; for purposes of this clause
(v), “continuing directors” means, as of any date of determination, any member of the board of
directors of the Issuer who was (a) a member of such board of directors on the Effective Date
or (b) nominated for election or elected to such board of directors with the approval of a
majority of the continuing directors who were members of such board at the time of such
nomination or election; or

     (vi) the Shares (or other common stock into which the Shares have been converted or for
which the Shares have been exchanged in connection with any merger, reclassification or
recapitalization of Counterparty) are not listed for trading on the New York Stock Exchange or
the NASDAQ Global Market or the NASDAQ Global Select Market (or their respective successors)
or cease to be so traded or quoted in contemplation of a delisting or withdrawal of approval.

   Notwithstanding the foregoing, a transaction described in clause (ii) or (iii) above will not
constitute an Additional Termination Event if at least 90% of the consideration for the Shares
(excluding cash payments for fractional shares and cash payments made in respect of dissenters’
appraisal rights) in the transaction or transactions consists of common stock and any associated
rights listed on a United States national securities exchange, or which will be so traded or quoted
when issued or exchanged in connection with such transaction, and as a result of such transaction
or transactions the Warrants hereunder become convertible into consideration consisting of at least
90% of such common stock.

The “Automatic Early Termination” provision of Section 6(a) of the Agreement will not apply
to Dealer or to Counterparty.

“Termination Currency” means USD.

Tax Representations.

	(I)	 	Payer Representations. For the purpose of Section 3(e) of the Agreement, each party
represents to the other party that it is not required by any applicable law, as modified by
the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to
make any deduction or withholding for or on account of any Tax from any payment (other than
interest under Section 2(e), 6(d)(ii), or 6(e) of the Agreement) to be made by it to the other
party under the Agreement. In making this representation, each party may rely on (i) the
accuracy of any representations made by the other party pursuant to Section 3(f) of the
Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of
the Agreement, and the accuracy and

OTC Warrant Confirmation (2015)

17

 

	 	 	effectiveness of any document provided by the other party pursuant to Section 4(a)(i) or
4(a)(iii) of the Agreement, and (iii) the satisfaction of the agreement of the other party
contained in Section 4(d) of the Agreement; provided that it will not be a breach of
this representation where reliance is placed on clause (ii) above and the other party does
not deliver a form or document under Section 4(a)(iii) of the Agreement by reason of
material prejudice to its legal or commercial position.
	 
	(II)	 	Payee Representations. For the purpose of Section 3(f) of the Agreement, each party makes the
following representations to the other party:

(i) Dealer represents that it is a company organized under the laws of England and Wales.

(ii) Dealer represents that it is a “non-withholding foreign partnership” for United States
Federal income tax purposes and each partner of Dealer is a “non-U.S. branch of a foreign
person” for purposes of section 1.1441-4(a)(3)(ii) of the United States Treasury Regulations
and a “foreign person” for purposes of section 1.6041-4(a)(4) of the United States Treasury
Regulations.

(iii) Dealer represents that no partner of Dealer is (i) a bank that has entered into this
Agreement in the ordinary course of its trade or business of making loans, as described in
section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), (ii) a
10% shareholder of Counterparty within the meaning of Code section 871(h)(3)(B), or (iii) a
controlled foreign corporation with respect to Counterparty within the meaning of Code
section 881(c)(3)(C).

(iv) Counterparty represents that it is a corporation incorporated in Pennsylvania.

Delivery Requirements. For the purpose of Sections 4(a)(i) and (ii) of the
Agreement, each party agrees to deliver the following documents:

	(a)	 	Tax forms, documents or certificates to be delivered are:
	 
	 	 	Dealer agrees to complete (accurately and in a manner reasonably satisfactory to
Counterparty), execute, and deliver to Counterparty, United States Internal Revenue Service
Form W-8IMY and all required attachments, or any successor of such form(s): (i) before the
first payment date under this agreement; (ii) promptly upon reasonable demand by
Counterparty; and (iii) promptly upon learning that any such Form previously provided by
Dealer has become obsolete or incorrect.
	 
	 	 	Counterparty agrees to complete (accurately and in a manner reasonably satisfactory to
Dealer), execute, and deliver to Dealer, United States Internal Revenue Service Form W-9, or
any successor of such form(s): (i) before the first payment date under this agreement; (ii)
promptly upon reasonable demand by Dealer; and (iii) promptly upon learning that any such
form(s) previously provided by Counterparty has become obsolete or incorrect.
	 
	(b)	 	Other documents to be delivered:

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Covered by
	Party Required to	 	 	 	 	 	Section 3(d)
	Deliver Document	 	Document Required to be Delivered	 	When Required	 	Representation
	Counterparty and Dealer

	 	Evidence of the authority and
true signatures of each official
or representative signing this
Confirmation
	 	Upon or before
execution and
delivery of this
Confirmation
	 	Yes

OTC Warrant Confirmation (2015)

18

 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Covered by
	Party Required to	 	 	 	 	 	Section 3(d)
	Deliver Document	 	Document Required to be Delivered	 	When Required	 	Representation
	Counterparty

	 	Certified copy of the resolution
of the  Board of Directors or
equivalent document authorizing
the execution and delivery of
this Confirmation and such other
certificate or certificates as
Dealer shall reasonably request
	 	Upon or before execution and
delivery of this
Confirmation	 	Yes
	 
	 	 	 	 	 	 
	Counterparty

	 	An opinion of counsel, dated as
of the Effective Date and
reasonably acceptable to Dealer
in form and substance, with
respect to the matters set forth
in Section 3(a) of the
Agreement.
	 	Upon or before
September 15, 2008
	 	No

Effectiveness. If, prior to the Effective Date, Dealer reasonably determines that it is advisable
to cancel the Transaction because of concerns that Dealer’s related hedging activities could be
viewed as not complying with applicable securities laws, rules or regulations, such Transaction
shall be cancelled and shall not become effective, and neither party shall have any obligation in
respect of such Transaction.

Addresses for Notices: For the purpose of Section 12(a) of the Agreement:

Address for notices or communications to Dealer for all purposes:

	 	 	 
	Address:

	 	Merrill Lynch International
	 

	 	Merrill Lynch Financial Centre
	 

	 	2 King Edward Street
	 

	 	London EC1A 1HQ
	Attention:

	 	Manager, Fixed Income Settlements
	Facsimile No.:

	 	44 207 995 2004
	Telephone No.:

	 	44 207 995 3769

Address for notices or communications to Counterparty for all purposes:

	 	 	 
	Address:

	 	Mylan Inc.
	 

	 	1500 Corporate Drive
	 

	 	Canonsburg, PA 15317
	Attention:

	 	Edward J. Borkowski, Chief Financial Officer
	Facsimile No.:

	 	(724) 514 1871
	Telephone No.:

	 	(724) 514 1870

Multibranch Party. For the purpose of Section 10(c) of the Agreement: Neither Dealer nor
Counterparty is a Multibranch Party.

Calculation Agent. “Calculation Agent” means Dealer. Upon the request of either party, the
Calculation Agent (or, in the case of a determination made by a party (including a party acting as
Hedging Party or Determining Party), such party) shall, no later than the 5th Business Day
following such request, provide the parties with a statement showing, in reasonable detail, the
computations (including any relevant quotations) by which it has determined any amount payable or
deliverable under, or any adjustment to the terms of, this Transaction; provided that in no event
shall Calculation Agent be required to disclose its proprietary models or other proprietary
information. All judgments, determinations and calculations hereunder by the Calculation Agent or
by a party hereto shall be performed in good faith and in a commercially reasonable manner.

Credit Support Provider.

With respect to Dealer: Not Applicable

 OTC Warrant Confirmation (2015)

19

 

With respect to Counterparty: Not Applicable.

Governing Law. This Confirmation will be governed by, and construed in accordance with, the laws of
the State of New York.

Submission to Jurisdiction. Each party hereby irrevocably and unconditionally submits for itself
and its property in any legal action or proceeding by the other party against it relating to the
Transaction to which it is a party, or for recognition and enforcement of any judgment in respect
thereof, to the exclusive jurisdiction of the Supreme Court of the State of New York, sitting in
New York County, the courts of the United States of America for the Southern District of New York,
and appellate courts from any thereof.

Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any
right it may have to a trial by jury in respect of any suit, action or proceeding relating to this
Transaction. Each party (i) certifies that no representative, agent or attorney of the other party
has represented, expressly or otherwise, that such other party would not, in the event of such a
suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and
the other party have been induced to enter into this Transaction, as applicable, by, among other
things, the mutual waivers and certifications provided herein.

Netting of Payments. The provisions of Section 2(c) of the Agreement shall not be
applicable to this Transaction.

Basic Representations. Section 3(a) of the Agreement is hereby amended by the deletion of
“and” at the end of Section 3(a)(iv); the substitution of a semicolon for the period at the
end of Section 3(a)(v) and the addition of Sections 3(a)(vi), as follows:

Eligible Contract Participant; Line of Business. Each party agrees and represents that it is
an “eligible contract participant” as defined in Section 1 (a)(12) of the U.S. Commodity
Exchange Act, as amended (“CEA”), this Agreement and the Transaction thereunder are subject
to individual negotiation by the parties and have not been executed or traded on a “trading
facility” as defined in Section 1(a)(33) of the CEA, and it has entered into this
Confirmation and this Transaction in connection with its business or a line of business
(including financial intermediation), or the financing of its business.

Acknowledgements:

	(a)	 	The parties acknowledge and agree that there are no other representations, agreements or
other undertakings of the parties in relation to this Transaction, except as set forth in this
Confirmation and the Agreement.
	 
	(b)	 	The parties hereto intend for:

	 	(i)	 	Buyer to be a “financial institution” as defined in Section 101(22) of Title 11
of the United States Code (the “Bankruptcy Code”) and this Transaction to be a
“securities contract” as defined in Section 741(7) of the Bankruptcy Code and a “swap
agreement” as defined in Section 101(53C) of the Bankruptcy Code, qualifying for the
protections of, among other sections, Sections 362(b)(6), 362 (b)(17), 546(e), 546(g),
555 and 560 of the Bankruptcy Code;
	 
	 	(ii)	 	a party’s right to liquidate this Transaction and to exercise any other
remedies upon the occurrence of any Event of Default under the Agreement with respect
to the other party to constitute a “contractual right” as defined in the Bankruptcy
Code;
	 
	 	(iii)	 	all payments for, under or in connection with this Transaction, all payments
for the Shares and the transfer of such Shares to constitute “settlement payments” as
defined in the Bankruptcy Code.

Amendment of Section 6(d)(ii). Section 6(d)(ii) of the Agreement is modified by deleting
the words “on the day” in the second line thereof and substituting therefor “on the day that is
three Local Business Days after the day”. Section 6(d)(ii) is further modified by deleting
the words “two Local Business Days” in the fourth line thereof and substituting therefor “three
Local Business Days.”

 OTC Warrant Confirmation (2015)

20

 

Consent to Recording. Each party consents to the recording of the telephone conversations of
trading and marketing
personnel of the parties and their Affiliates in connection with this Confirmation. To the extent
that one party records telephone conversations (the “Recording Party”) and the other party does not
(the “Non-Recording Party”), the Recording Party shall in the event of any dispute, make a complete
and unedited copy of such party’s tape of the entire day’s conversations with the Non-Recording
Party’s personnel available to the Non-Recording Party. The Recording Party’s tapes may be used by
either party in any forum in which a dispute is sought to be resolved and the Recording Party will
retain tapes for a consistent period of time in accordance with the Recording Party’s policy unless
one party notifies the other that a particular transaction is under review and warrants further
retention.

Disclosure. Each party hereby acknowledges and agrees that Dealer has authorized Counterparty to
disclose this Transaction and any related hedging transaction between the parties if and to the
extent that Counterparty reasonably determines (after consultation with Dealer) that such
disclosure is required by law or by the rules of the New York Stock Exchange or any securities
exchange. Notwithstanding the foregoing, effective from the date of commencement of discussions
concerning the Transaction, Counterparty and each of its employees, representatives, or other
agents may disclose to any and all persons, without limitation of any kind, the tax treatment and
tax structure of the Transaction and all materials of any kind (including opinions or other tax
analyses) that are provided to Counterparty relating to such tax treatment and tax structure.

Severability. If any term, provision, covenant or condition of this Confirmation, or the
application thereof to any party or circumstance, shall be held to be invalid or unenforceable in
whole or in part for any reason, the remaining terms, provisions, covenants, and conditions hereof
shall continue in full force and effect as if this Confirmation had been executed with the invalid
or unenforceable provision eliminated, so long as this Confirmation as so modified continues to
express, without material change, the original intentions of the parties as to the subject matter
of this Confirmation and the deletion of such portion of this Confirmation will not substantially
impair the respective benefits or expectations of parties to this Agreement; provided,
however, that this severability provision shall not be applicable if any provision of
Section 2, 5, 6 or 13 of the Agreement (or any definition or
provision in Section 14 to the extent that it relates to, or is used in or in connection
with any such Section) shall be so held to be invalid or unenforceable.

Affected Parties. For purposes of Section 6(e) of the Agreement, each party shall be deemed
to be an Affected Party in connection with Illegality and any Tax Event.

[Signatures follow on separate page]

 OTC Warrant Confirmation (2015)

21

 

     Please confirm that the foregoing correctly sets forth the terms of our agreement by executing
the copy of this Confirmation enclosed for that purpose and returning it to us.

	 	 	 	 	 
	 	Very truly yours,

MERRILL LYNCH INTERNATIONAL

 	 
	 	By:  	/s/ Brian Carroll	 
	 	Name:  	Brian Carroll	 
	 	Title:  	Authorized Signatory	 
	 

Confirmed as of the date first above
written:

MYLAN INC.

	 	 	 	 	 
	By:
	 	/s/ Brian Carroll	 	 
	Name:

	 	 
Brian Carroll
	 	 
	Title:
	 	Authorized Signatory	 	 

Acknowledged and agreed as to matters to the Agent:

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

Solely in its capacity as Agent hereunder

	 	 	 	 	 
	By:
	 	/s/ Fran Jacobson	 	 
	Name:

	 	 
Fran Jacobson
	 	 
	Title:
	 	VP	 	 

OTC Warrant Confirmation (2015)EX-10.4

Exhibit 10.4

EXECUTION
COPY

	 	 	 	 	 
	Confirmation of OTC Warrant Transaction
	 
	 	 	 	 
	Date:	 	September 9, 2008
	 
	 	 	 	 
	To:	 	Mylan Inc. (“Counterparty”)
	 	 	1500 Corporate Drive
	 	 	Canonsburg, PA 15317
	 	 	Attention: Edward J. Borkowski, Chief Financial Officer
	 

	 	Facsimile No.: (724) 514 1871
	 

	 	Telephone No.: (724) 514 1870
	 
	 	 	 	 
	From:	 	Wells Fargo Bank, National Association. (“Dealer”)
	 	 	550 California Street
	 	 	14th Floor
	 	 	San Francisco, CA 94104
	 	 	Attention: Financial Product Documentation Group,
	 	 	Equities Trading Manager
	 

	 	Facsimile No.: (415) 646-9208
	 

	 	Telephone No.: (415) 396-3962
	 
	Reference No:
	 	 	 	 

Dear Sir / Madam:

     The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and
conditions of the above-referenced transaction entered into between Counterparty and Dealer on the
Trade Date specified below (the “Transaction"). This Confirmation constitutes a
“Confirmation” as referred to in the Agreement specified below.

     The definitions and provisions contained in the 2000 ISDA Definitions (the “Swap
Definitions”) and the 2002 ISDA Equity Derivatives Definitions (the “Equity
Definitions” and, together with the Swap Definitions, the “Definitions"), in each case
as published by the International Swaps and Derivatives Association, Inc., are incorporated into
this Confirmation. In the event of any inconsistency between the Swap Definitions and the Equity
Definitions, the Equity Definitions will govern, and in the event of any inconsistency between the
Definitions and this Confirmation, this Confirmation will govern. References herein to a
“Transaction” shall be deemed to be references to a “Share Option Transaction” for
the purposes of the Equity Definitions and to a “Swap Transaction” for the purposes of the
Swap Definitions. For purposes of this Transaction, “Warrant Style”, “Warrant
Type”, “Number of Warrants” and “Warrant Entitlement” (each as defined below)
shall be used herein as if such terms were referred to as “Option Style”, “Option
Type”, “Number of Options” and “Option Entitlement”, respectively, in the
Definitions.

     This Confirmation evidences a complete binding agreement between you and us as to the terms of the
Transaction to which this Confirmation relates. This Confirmation (notwithstanding anything to the
contrary herein), shall be subject to, and form part of, an agreement in the 1992 form of the ISDA
Master Agreement (the “Master Agreement” or “Agreement”) as if we had executed an
agreement in such form (but without any Schedule and with elections specified in the “ISDA Master
Agreement” Section of this Confirmation) on the Trade Date. In the event of any inconsistency
between the provisions of that Agreement and this Confirmation, this Confirmation will prevail for
the purpose of this Transaction. The parties hereby agree that the Transaction evidenced by this
Confirmation shall be the only Transaction subject to and governed by the Agreement.

     The terms of the particular Transaction to which this Confirmation relates are as follows:

General Terms:

	 	 	 
	Trade Date:
	 	September 9, 2008

OTC
Warrant Confirmation (2015)

 

 

	 	 	 
	Effective Date:
	 	September 9, 2008 subject to cancellation of the OTC Warrant Transaction prior to
5:00 p.m. (New York City time) on such date by the Dealer. In the event of such
cancellation, any payments previously made hereunder, including the Premium, shall
be returned to the person making such payment. In addition, Counterparty shall
reimburse Dealer for any costs or expenses (including market losses) relating to
the unwinding of its hedging activities in connection with the Transaction
(including any loss or cost incurred as a result of its terminating, liquidating,
obtaining or reestablishing any hedge or related trading position).

	 	 	 

	Warrant Style:
	 	European

	 	 	 

	Warrant Type:
	 	Call

	 	 	 

	Seller:
	 	Counterparty

	 	 	 

	Buyer:
	 	Dealer

	 	 	 

	Shares:
	 	Shares of Common Stock, $0.50 par value, of Counterparty (Security Symbol: “MYL”).

	 	 	 

	Number of Warrants:
	 	11,261,265

	 	 	 

	Daily Number of Warrants:
	 	For any day, the unexercised Number of Warrants on such day divided by the
remaining number of Expiration Dates (including such day) and rounded down to the
nearest whole number, with the balance of the Number of Warrants exercised on the
final Expiration Date.

	 	 	 

	Warrant Entitlement:
	 	One (1) Share per Warrant

	 	 	 

	Strike Price:
	 	 $ 20.00

	 	 	 

	Premium:
	 	 $16,320,000

	 	 	 

	Premium Payment Date:
	 	The Effective Date;  provided  that no cancellation of the Transaction has occurred
prior to 5:00 p.m. (New York City time) on such date by Dealer.

	 	 	 

	Exchange:
	 	New York Stock Exchange

	 	 	 

	Related Exchange(s):
	 	All Exchanges

	 	 	 

	Full Exchange Business Day:
	 	A Scheduled Trading Day that has a scheduled closing time for its regular trading
session at 4:00 p.m. (New York City time) or the then standard closing time for
regular trading on the Exchange and is not a Disrupted Day.

	 	 	 

	Procedures for Exercise:
	 	 

	 	 	 

	Expiration Time:
	 	11:59 p.m. (New York City time).

	 	 	 

	Expiration Dates:
	 	The 80 consecutive Full Exchange Business Days beginning on and including December
15, 2015 each shall be the Expiration Date for a number of Warrants equal to the
Daily Number of Warrants on such date. For the avoidance of doubt, the aggregate
number of Expiration Dates hereunder shall not be affected by the occurrence of a
Disrupted Day or other circumstance that causes a Scheduled Trading Day not to be
a Full Exchange Business Day.

OTC
Warrant Confirmation (2015)

2

 

	 	 	 
	Exercise Dates:
	 	Each Expiration Date shall be an Exercise Date for a number of Warrants equal to
the Daily Number of Warrants on such date. The Warrants shall not be exercised
prior to the first such Exercise Date.

	 	 	 

	Automatic Exercise:
	 	Applicable;  provided  that Section 3.4(a) of the Equity Definitions shall apply to
Net Physical Settlement; and provided further that, unless all Warrants have been
previously exercised hereunder, a number of Warrants for each Expiration Date
equal to the Daily Number of Warrants for such Expiration Date shall be deemed to
be automatically exercised.

	 	 	 

	Counterparty’s Telephone Number
	 	Address:               Mylan Inc.

	and Telex and/or Facsimile Number
	 	1500 Corporate Drive

	and Contact Details for purpose
	 	Canonsburg, PA 15317

	of Giving Notice:
	 	Attention:            Edward J. Borkowski, Chief Financial Officer

	 	 	Facsimile No.:     (724) 514-1871

	 	 	Telephone No.:    (724) 514-1870

	 	 	 

	 Valuation:
	 	 

	 	 	 

	Valuation Dates:
	 	Each Exercise Date

	 	 	 

	 Settlement Terms:
	 	 

	 	 	 

	Settlement Price:
	 	For each Valuation Date, the Rule 10b-18 Dollar Volume Weighted Average Price of
the Shares (“ VWAP  ”) calculated from 9:45 a.m. to 3:45 p.m., as observed under the
heading Bloomberg “VWAP” on Bloomberg page MYL.N <equity> VAP (or any
successor thereto) (or if such volume-weighted average price is unavailable, the
market value of one Share on such Valuation Date, as determined by the Calculation
Agent);  provided  that, if the scheduled weekday closing time of the Exchange for
any Valuation Date is later than 4:00 p.m. (without regard to after hours or any
other trading outside of the regular trading session hours) the VWAP shall be
calculated for such Valuation Date from 9:45 a.m. until 15 minutes prior to such
later closing time of the Exchange.

	 	 	 

	 	 	Section 6.3(a) of the Equity Definitions is hereby amended by replacing
clause (ii) in its entirety with “(ii) an Exchange Disruption, or” and inserting
immediately following clause (iii) the phrase “; in each case that the Calculation
Agent determines is material.”

	 	 	 

	Settlement Method:
	 	Net Physical Settlement only.

	 	 	 

	Net Physical Settlement:
	 	Counterparty shall deliver to Dealer on the Settlement Date a number of Shares
(the “ Delivered Shares  ”) equal to the Share Delivery Quantity;  provided  that in
the event that the number of Shares calculated comprises any fractional Share,
only whole Shares shall be delivered and an amount in cash equal to the value of
such fractional share shall be payable by the Counterparty to Dealer in lieu of
such fractional Share. If, in the reasonable opinion of Dealer or Hedging Party
based on advice of counsel, for any reason, the Shares deliverable upon Net
Physical Settlement would not be immediately freely transferable by Dealer under
Rule 144(b)(1) under the Securities Act of 1933, as amended (the “ Securities
Act  ”), then Dealer or Hedging Party may elect to either (x) accept delivery of
such Shares notwithstanding any restriction on transfer or (y) have the provisions
set forth under “ Registration/Private Placement 
” below apply, 

OTC
Warrant Confirmation (2015)

3

 

	 	 	 
	 
	 	mutatis mutandis.

	 
	Share Delivery Quantity:
	 	For each Exercise Date, a number of Shares, as calculated by the Calculation
Agent, equal to the Net Physical Settlement Amount for such Exercise Date divided
by the Settlement Price on the Valuation Date in respect of such Exercise Date
plus an amount in cash in lieu of any fractional shares (based on the applicable
Settlement Price).

	 	 	 

	Net Physical Settlement Amount:
	 	For any Exercise Date, an amount equal to the product of (i) the Number of
Warrants being exercised on the relevant Exercise Date, (ii) the Strike Price
Differential for such Exercise Date and (iii) the Warrant Entitlement.

	 	 	 

	Strike Price Differential:
	 	For any Valuation Date, (i) if the Settlement Price is greater than the Strike
Price, an amount equal to the excess of such Settlement Price over the Strike
Price for such Valuation Date or (ii) if such Settlement Price is less than or
equal to the Strike Price, zero.

	 	 	 

	Settlement Date:
	 	Settlement with respect to each Exercise Date shall occur on the third (3rd) Full
Exchange Business Day following the final Valuation Date;
provided that Dealer or
Hedging Party shall have the right to request by prior written notice to
Counterparty a Settlement Date with respect to any Exercise Date and the related
Share Delivery Quantity that is three (3) Full Exchange Business Days following
such Exercise Date. Such request shall not unreasonably be denied.

	 
	Limitations on Net Physical Settlement by Counterparty:
	 	Notwithstanding anything herein or in the Agreement to the contrary, the number of
Shares that may be delivered at settlement by Counterparty shall not exceed
18,972,416 Shares at any time, as adjusted by Calculation Agent to account for
any subdivision, stock-split, stock combination, reclassification or similar
dilutive or anti-dilutive event with respect to the Shares and as such number may
be increased by operation of the provisions set forth below opposite the caption
“Increases in Maximum Deliverable Share Amount ” (“ Maximum Deliverable Share
Amount  ”).

	 	 	 

	 	 	Counterparty represents and warrants that the number of Available Shares as of the
Trade Date is greater than the Maximum Deliverable Share Amount. Counterparty
covenants and agrees that (i) Counterparty shall not take any action of corporate
governance or otherwise to reduce the number of Available Shares below the Maximum
Deliverable Share and (ii) Counterparty shall use its reasonable efforts to cause
the number of Available Shares at all times to be greater than the Maximum
Deliverable Share Amount.

	 	 	 

	 	 	For this purpose, “ Available Shares  ” means the number of Shares Counterparty
currently has authorized (but not issued and outstanding) less the maximum number
of Shares that may be required to be issued by Counterparty in connection with
stock options, convertibles, and other commitments of Counterparty that may
require the issuance or delivery of Shares in connection therewith (other than the
Transaction and any amendment thereto or new confirmation evidencing the issuance
by Counterparty to Dealer of additional warrants within 30 days of September 3,
2008).

	 	 	 

	Increases in Maximum Deliverable

Share Amount:
	 	Following the Trade Date, Counterparty agrees to use its commercially reasonable
efforts seek approval from its shareholders (including, without limitation, to
seek such approval at its annual meeting of shareholders in 2009 and, if needed,
the annual meeting of shareholders for each following calendar year) to increase
the number of authorized but unissued Shares such that the number of Available
Shares shall be equal to at least two times the Number of

OTC
Warrant Confirmation (2015)

4

 

	 	 	 
	 	 	Warrants that remain unexercised (the “2x Condition  ”). Upon Counterparty
obtaining such approval for such an increase, the Maximum Deliverable Share Amount
shall automatically increase to two times the aggregate Number of Warrants that
remain unexercised. Counterparty further agrees that following the Trade Date and
until the 2x Condition is satisfied, 30% of the increase in the number of
authorized but unissued Shares and/or Shares that are held in treasury that
results from any of the events described in clause (i), (ii) or (iii) below shall
be reserved solely for delivery in connection with the Transaction, and the
Maximum Deliverable Share Amount shall be increased in each case by one-half of
the number of such additional authorized but unissued Shares. Until the 2x
Condition has been satisfied, Counterparty shall notify Buyer no later than the
third Business Day of each month of the occurrence during the immediately
preceding month of any of the events described in clause (i), (ii) or (iii) below
if the aggregate effect of such events would be to increase the number of
additional but authorized Shares by at least 10,000 Shares (including the number
of additional authorized but unissued Shares). In the event Counterparty shall
not have delivered the full number of Shares otherwise deliverable under the
Transaction as a result of the “ Limitations on Net Physical Settlement by
Counterparty  ” set forth above (the resulting deficit, the “ Deficit Shares  ”),
Counterparty shall be continually obligated to deliver, from time to time (and,
for the avoidance of doubt, irrespective of any early termination or cancellation
of the relevant Transaction or the expiration of the relevant Warrants) until the
full number of Deficit Shares have been delivered pursuant to this paragraph,
Shares when, and to the extent, that (i) Shares are repurchased, acquired or
otherwise received by Counterparty or any of its subsidiaries (including, without
limitation, pursuant to the settlement or termination of any Share option or other
derivative transactions) after the Trade Date (whether or not in exchange for
cash, fair value or any other consideration), (ii) authorized and unissued Shares
reserved for issuance in respect of other transactions prior to such date which
prior to the relevant date become no longer so reserved and (iii) Counterparty
additionally authorizes any unissued Shares that are not reserved for other
transactions. Until the full number of Deficit Shares has been delivered pursuant
to this paragraph, Counterparty shall immediately notify Buyer of the occurrence
of any of the foregoing events (including the number of Shares subject to clause
(i), (ii) or (iii) and the corresponding number of Shares to be delivered) and
promptly deliver such Shares thereafter.

	 	 	 

	Dividends:
	 	 

	 	 	 

	Dividends:
	 	If at any time during the period from and including the Trade Date, to and
including the date on which Counterparty has fully performed its obligations to
deliver Shares hereunder, an ex-dividend date for a cash dividend occurs with
respect to the Shares (an “ Ex-Dividend Date  ”), and that dividend is different from
the Regular Dividend on a per Share basis, then the Calculation Agent will, in its
reasonable discretion, adjust the Strike Price, the Number of Warrants, the Daily
Number of Warrants, the Warrant Entitlement and any other variable it deems
appropriate to preserve the fair value of the Warrants after taking into account
such dividend and any corresponding adjustment to the Regular Dividend.

	 	 	 

	Regular Dividend:
	 	Initially USD $0.00 per Share per quarter in respect of the Shares. In the event
that, in any quarter, a regular quarterly Ex-Dividend Date occurs for which the
amount of the corresponding cash dividend is different (the “ New Dividend Amount  ”)
from the Regular Dividend or no Ex-Dividend Date occurs (in which case the New
Dividend Amount shall be zero), then following the adjustment by the Calculation
Agent pursuant to “Dividends” above, the Regular Dividend

OTC
Warrant Confirmation (2015)

5

 

	 	 	 
	 	 	shall equal the New
Dividend Amount.

	 
	Extraordinary Dividends:
	 	Any dividend other than Regular Dividends. For the avoidance of doubt, if more
than one Ex-Dividend Date occurs in a quarter, the Calculation Agent shall
designate any cash dividend other than a Regular Dividend as an Extraordinary
Dividend and will, in its reasonable discretion, adjust the Strike Price, the
Number of Warrants, the Daily Number of Warrants, the Warrant Entitlement and any
other variable it deems appropriate to preserve the fair value of the Warrants
after taking into account such Extraordinary Dividend.

	 	 	 

	Adjustments:
	 	 

	 	 	 

	Method of Adjustment:
	 	Calculation Agent Adjustment

	 	 	 

	Extraordinary Events:
	 	 

	 	 	 

	Consequences of Merger Events:
	 	(a) Share-for-Share: Modified Calculation Agent Adjustment

	 	 	 

	 	 	(b) Share-for-Other: Cancellation and Payment (Calculation Agent Determination)

	 	 	 

	 	 	(c) Share-for-Combined: Cancellation and Payment (Calculation Agent
Determination); provided that the Calculation Agent may elect Component Adjustment
for all or part of the Transaction.

	 	 	 

	 	 	 

	Tender Offer:
	 	Applicable

	 	 	 

	Consequences of Tender Offers:
	 	(a) Share-for-Share: Modified Calculation Agent Adjustment

	 	 	 

	 	 	(b) Share-for-Other: Modified Calculation Agent Adjustment

	 	 	 

	 	 	(c) Share-for-Combined: Modified Calculation Agent Adjustment

	 	 	 

	 	 	With respect to any Extraordinary Events hereunder, upon the occurrence of
Cancellation and Payment in whole or in part, the parties agree that the amount to
be paid, in accordance with the Equity Definitions, shall constitute a Transaction
Early Termination Amount, subject to satisfaction by the payment or delivery of
Shares or cash as set forth in the Early Termination section below.

	 	 	 

	Modified Calculation Agent Adjustment:
	 	If, in respect of any Merger Event to which Modified Calculation Agent Adjustment
applies, the adjustments to be made in accordance with Section 12.2(e)(i) of the
Equity Definitions would result in the Counterparty being different from the
issuer of the Shares, then with respect to such Merger Event, as a condition
precedent to the adjustments contemplated in Section 12.2(e)(i) of the Equity
Definitions, Dealer, Hedging Party and the Counterparty shall, prior to the Merger
Date, have entered into such documentation containing representations, warranties
and agreements relating to securities law and other issues as requested by Dealer
or Hedging Party that Dealer or Hedging Party has determined, in its reasonable
discretion, to be reasonably necessary or appropriate to allow Dealer or Hedging
Party to continue as a party to the Transaction, as adjusted under
Section 12.2(e)(i) of the Equity Definitions, and to preserve its hedging or hedge
unwind activities in connection with the Transaction in a manner compliant with
applicable legal, regulatory or self-regulatory requirements, or with related
policies and procedures applicable to Dealer or Hedging Party, and if such
conditions are not

OTC
Warrant Confirmation (2015)

6

 

	 	 	 
	 	 	met or if the Calculation Agent determines that no adjustment that it could make
under Section 12.2(e)(i) of the Equity Definitions will produce a commercially
reasonable result, then the consequences set forth in Section 12.2(e)(ii) of the
Equity Definitions shall apply.

	 	 	 

	Nationalization, Insolvency or Delisting:
	 	Cancellation and Payment (Calculation Agent Determination) (subject to
satisfaction by payment or delivery of Shares or cash as set forth in “Early
Termination” below). In addition to the provisions of Section 12.6(a)(iii) of the
Equity Definitions, it will also constitute a Delisting if the Exchange is located
in the United States and the Shares are not immediately re-listed, re-traded or
re-quoted on any of the New York Stock Exchange, the American Stock Exchange, the
NASDAQ Global Market or the NASDAQ Global Select Market (or their respective
successors); if the Shares are immediately re-listed, re-traded or re-quoted on
any such exchange or quotation system, such exchange or quotation system shall
thereafter be deemed to be the Exchange.

	 	 	 

	Additional Disruption Events:
	 	 

	 	 	 

	Change in Law:
	 	Applicable;
provided that Section 12.9(a)(ii) of the Equity Definitions shall be
amended by inserting (i) at the end of the fifth line thereof the following
phrase: “(or GS)”, (ii) at the end of clause (X) the following phrase: “(or, in
the case of GS, a Hedging Party Related Transaction)”; and (iii) in clause (Y),
immediately following the words “such Transaction”, the following phrase: “(or,
in the case of GS, a Hedging Party Related Transaction).”

	 	 	 

	GS:
	 	Goldman Sachs International or any of its affiliates to which Goldman Sachs
International assigns its rights and obligations under a Hedging Party Related
Transaction.

	 	 	 

	Hedging Party Related Transaction:
	 	A transaction between GS and Dealer or its affiliate evidenced by a confirmation
that refers to the Transaction.

	 	 	 

	Failure to Deliver:
	 	Not Applicable

	 	 	 

	Insolvency Filing:
	 	Applicable

	 	 	 

	Hedging Disruption Event:
	 	Applicable; provided that Section 12.9(a)(v) of the Equity Definitions is hereby
amended by inserting at the end of clause (A) the following phrase: “(or a
Hedging Party Related Transaction).”

	 	 	 

	Increased Cost of Hedging:
	 	Not Applicable

	 	 	 

	Loss of Stock Borrow:
	 	Applicable;
provided that Section 12.9(a)(vii) of the Equity Definitions is hereby
amended by inserting in the third line thereof following the words “such
Transaction” the following phrase: “(or a Hedging Party Related Transaction);
 provided further  that, Section 12.9(b)(iv) of the Equity Definitions .is hereby
amended by deleting the text from and including “(A)” to and including “(B)” and
by deleting the words “in each case”.

	 	 	 

	Maximum Stock Loan Rate:
	 	1.00%

	 	 	 

	Increased Cost of Stock Borrow:
	 	Applicable;  provided  that it shall be a condition to Counterparty’s right to make
the election described in clause (C) of Section 12.9(b)(v) of the Equity
Definitions that on the date of such election, none of Counterparty, its
directors, executive officers, or any person controlling, or exercising influence
over, its

OTC Warrant Confirmation (2015)

7

 

	 	 	 
	 	 	decision to make such election is in possession of any material non-public
information with respect to Counterparty or the Shares;
provided further that, if
Counterparty timely makes the election described in clause (A) or (B) of
Section 12.9(b)(v) of the Equity Definitions, Counterparty shall thereafter remain
entitled, subject to the foregoing condition, to terminate the Transaction
pursuant to Section 12.9(b)(v)(C) of the Equity Definitions upon five Scheduled
Trading Days’ notice to Dealer; and provided further that, Section 12.9(b)(v) of
the Equity Definitions is hereby amended by deleting the text from and including
“(X)” to and including “(Y)” and that Section 12.9(a)(viii) of the Equity
Definitions is hereby amended by inserting in the second line thereof following
the words “such Transaction” the following phrase “(or a Hedging Party Related
Transaction).”

	 	 	 

	Initial Stock Loan Rate:
	 	0.25%

	 	 	 

	Hedging Party:
	 	GS; provided that, notwithstanding anything herein to the contrary, from and after
the first day following the payment date in respect of any Early Termination Date
under the Hedging Party Related Transaction, (such day, the “ Related Transaction
Termination Date  ”), Dealer shall be the Hedging Party.

	 	 	 

	Determining Party:
	 	GS; provided that, notwithstanding anything herein to the contrary, from and after
the first day following any Related Transaction Termination Date, Dealer shall be
the Determining Party.

	 	 	 

	Non-Reliance:
	 	Applicable

	 	 	 

	Agreements and Acknowledgments Regarding Hedging Activities:
	 	Applicable

	 	 	 

	Additional Acknowledgments:
	 	Applicable

	 	 	 

	Other Provisions:
	 	 

	 	 	 

	Additional Agreements:
	 	If Counterparty would be obligated to pay cash to Dealer pursuant to the terms of
this Agreement due to an event or circumstance outside Counterparty’s control (or,
subject to Hedging Party’s consent not to be unreasonably withheld or delayed, an
event within Counterparty’s control) without having had the right (other than
pursuant to this paragraph) to elect to deliver Shares in satisfaction of such
payment obligation, then Counterparty may elect, by giving irrevocable telephonic
notice to Dealer and Hedging Party (followed by written confirmation thereof
within 24 hours), to deliver to Dealer a number of Shares (whether registered or
unregistered) having a cash value equal to the amount of such payment obligation.
Such number of Shares to be delivered shall be the number of Shares, determined by
the Calculation Agent, sufficient for Dealer to realize the cash equivalent of
such payment obligation from proceeds of the sale of such number of Shares over a
reasonable period of time taking into account any applicable discount (determined
in a commercially reasonable manner) to reflect any restrictions on transfer as
well as the market value of the Shares. Settlement relating to any delivery of
Shares pursuant to this paragraph shall occur within a reasonable period of time.
The number of Shares delivered pursuant to this paragraph shall not exceed the
Maximum Deliverable Share Amount and shall be subject to the provisions under
“Registration/Private Placement” hereof regarding Proceeds Amount and the
provisions set forth in subsection (c) under “Additional Agreements,
Representations and Covenants of Counterparty, Etc.” below. If the event giving
rise to such payment obligation

OTC
Warrant Confirmation (2015)

8

 

	 	 	 
	 	 	has resulted in holders of Shares receiving property (including cash) in exchange
for Shares, then Counterparty shall satisfy its obligation pursuant to this
paragraph by delivering such property; provided that if such event involves a
choice of consideration, Dealer shall be entitled to receive the respective
amounts of each type of property comprised in such consideration that holders of
Shares in the aggregate are entitled to receive.

	 	 	 

	Early Termination:
	 	Notwithstanding any provision to the contrary, upon the designation of an Early
Termination Date or the occurrence of Cancellation and Payment in whole or in part
hereunder (except in the case of an Event of Default in which Counterparty is the
Defaulting Party or a Termination Event in which Counterparty is the Affected
Party, other than an (x) Event of Default of the type described in
Section 5(a)(iii), (v), (vi) or (vii) of the Master Agreement or (y) a Termination
Event of the type described in Section 5(b)(i), (ii), (iii), (iv), or (v) of the
Master Agreement that in the case of either (x) or (y) resulted from an event or
events outside Counterparty’s control), Counterparty’s payment obligation in
respect of this Transaction (the “ Transaction Early
Termination Amount  ”) may, at
the option of Counterparty, be satisfied by the delivery of a number of Shares
equal to the Transaction Early Termination Amount divided by the Termination Price
(“ Early Termination Stock Settlement  ”);
provided, however, that Counterparty must
notify Dealer and Hedging Party of its election of Early Termination Stock
Settlement by the close of business on the day that is two Exchange Business Days
following the day that the notice designating the Early Termination Date, or
notice that an Extraordinary Event has resulted in the cancellation or termination
of the Transaction in whole or in part, is effective; provided
further, however,
that in no event shall Counterparty be required to deliver to Dealer a number of
Shares greater than the Maximum Deliverable Share Amount. “ Termination Price ”
means the market value per Share on the date that Shares are delivered in
connection with such Early Termination Date, as determined by the Calculation
Agent in a commercially reasonable manner taking into account any applicable
discount to reflect any restrictions on transfer.

	 	 	 

	 	 	A number of Shares calculated as being due in respect of any Early Termination
Stock Settlement will be deliverable on the third Clearance System Business Day
following the date that notice specifying the number of Shares deliverable is
effective;  provided  that, if Counterparty is delivering Shares as a result of a
Merger Event, Tender Offer, Nationalization or Insolvency, the Settlement Date for
such delivery will be immediately prior to the effective date or settlement date
for such event and Dealer shall be entitled to receive the type of consideration
that a holder of Shares at such time would be entitled to receive (and references
herein to Shares shall be deemed to refer to such consideration, as applicable);
provided that if such event involves a choice of consideration, Dealer shall be
entitled to receive the respective amounts of each type of property (including
cash) comprised in such consideration that holders of Shares in the aggregate are
entitled to receive. Section 6(d)(i) of the Agreement is hereby amended by adding
the following words after the word “paid” in the fifth line thereof: “or any
delivery is to be made, as applicable.” The number of Shares delivered pursuant
Early Termination Stock Settlement shall not exceed the Maximum Deliverable Share
Amount and shall be subject to the provisions under “Registration/Private
Placement” hereof regarding Proceeds Amount and the provisions set forth in
subsection (c) under “Additional Agreements, Representations and Covenants of
Counterparty, Etc.” below.

	 	 	 

	 	 	On or prior to the Early Termination Date or date on which notice that an
Extraordinary Event has resulted in the cancellation or termination of the

OTC Warrant Confirmation (2015)

9

 

	 	 	 
	 	 	Transaction in whole or in part is effective, as applicable, if Early Termination
Stock Settlement is elected and if so requested by Dealer or Hedging Party upon
advice of counsel, Counterparty shall comply with the provisions set forth below
opposite the caption “Registration/Private Placement”.

	 	 	 

	Registration/Private Placement:
	 	If the provisions under this heading “Registration/Private Placement” apply,
Counterparty shall (subject to its right to make the election described in the
immediately succeeding paragraph) (A) afford Dealer and Hedging Party (or an
affiliate of Hedging Party designated by Hedging Party) a reasonable opportunity
to conduct a due diligence investigation with respect to Counterparty that is
customary in scope for underwritten offerings of equity securities; (B) enter into
a registration rights agreement with Dealer and Hedging Party (a “ Registered
Settlement  ”) in form and substance reasonably acceptable to Dealer which agreement
(“ Registration Rights Agreement  ”) will contain among other things, reasonable
customary representations and warranties and indemnification, restrictions on
sales during “blackout dates” as provided for in the Registration Rights Agreement
and shall satisfy the conditions contained therein; and (C) promptly file and use
its commercially reasonable efforts to obtain the effectiveness a Registration
Statement pursuant to Rule 415 under the Securities Act. If and when such
Registration Statement shall have been declared effective by the Securities and
Exchange Commission, Counterparty shall have made available to Dealer and Hedging
Party such Prospectuses as Dealer may reasonably request to comply with the
applicable prospectus delivery requirements for the resale by Dealer and Hedging
Party of such number of Shares as Dealer or Hedging Party shall specify (or, if
greater, the number of Shares that Counterparty shall specify). Such Registration
Statement shall be effective and Prospectus shall be current until the earliest of
the date on which (i) all the Delivered Shares or Shares delivered by Counterparty
in connection with an Early Termination Date, as the case may be, have been sold,
(ii) Dealer and Hedging Party have each advised Counterparty that it no longer
requires that such Registration Statement be effective, (iii) all remaining Shares
could be sold by Dealer and Hedging Party without registration pursuant to
Rule 144 promulgated under the Securities Act (the “ Termination Registration
Period  ”) or (iv) Counterparty has provided a legal opinion of nationally
recognized counsel reasonably acceptable to Dealer in form and substance
reasonably acceptable to Dealer and Hedging Party (with customary assumptions and
exceptions) that the Shares issuable upon exercise of these Warrants will be
freely tradable under the Securities Act upon delivery to Dealer and not subject
to any legend restricting transferability. It is understood that the Registration
Statement and Prospectus will cover a number
of Shares equal to the aggregate
number of Shares (if any) reasonably estimated by Dealer and Hedging Party to be
potentially deliverable by Counterparty in connection with Net Physical Settlement
or Early Termination Stock Settlement hereunder, as the case may be, but in no
event exceeding the Maximum Deliverable Share Amount. On each day during the
Termination Registration Period Counterparty shall represent to the Dealer and
Hedging Party that each of its filings under the Securities Act, the Exchange Act
or other applicable securities laws that are required to be filed have been filed
and that, as of the respective dates thereof and as of the date of this
representation, they do not contain any untrue statement of a material fact or
omission of a material fact required to be stated therein or necessary to make the
statements made, in the light of the circumstances under which they were made, not
misleading.

	 	 	 

	 	 	In lieu of a Registered Settlement, Counterparty may elect, by notice to the
Dealer and Hedging Party no later than the time the relevant delivery obligation

OTC
Warrant Confirmation (2015)

10

 

	 	 	 
	 	is due, that this paragraph shall apply:

	 	 	 

	 	 	(a) Counterparty shall afford Dealer and Hedging Party (or an affiliate of Hedging
Party designated by Hedging Party) and any potential institutional purchaser of
any Shares identified by Dealer or Hedging Party a reasonable opportunity to
conduct a due diligence investigation with respect to Counterparty that is
customary in scope for private placements of equity securities subject to
execution of any customary confidentiality agreements;

	 	 	 

	 	 	(b) Counterparty shall enter into an agreement (a “ Private Placement Agreement  ”)
with Dealer and Hedging Party (or an affiliate of Hedging Party designated by
Hedging Party) on commercially reasonable terms in connection with the private
placement of such Shares (including any additional Shares pursuant to clause (c)
below) by Counterparty to Dealer or an affiliate and the private resale of such
shares by Dealer or such affiliate or by Hedging Party or such affiliates,
substantially similar to private placement purchase agreements customary for
private placements of equity securities, by a publicly reporting company (if
Counterparty is a publicly reporting company at such time) to institutional
purchasers, in form and substance commercially reasonably satisfactory to Dealer
and Hedging Party, which Private Placement Agreement shall include provisions
relating to the indemnification of, and contribution in connection with the
liability of, Dealer and its affiliates, and Hedging Party and
its Affiliates, shall provide for the payment by Counterparty of all expenses in connection with
such resale, including all reasonable and documented fees and expenses of counsel
for Dealer and counsel for Hedging Party, shall contain representations,
warranties and agreements of Counterparty reasonably necessary or advisable to
establish and maintain the availability of an exemption from the registration
requirements of the Securities Act for such resales, and shall use commercially
reasonable efforts to provide for the delivery of accountants’ “comfort letters”
to Dealer or such affiliate, and to Hedging Party or such affiliate with respect
to the financial statements and certain financial information contained in or
incorporated by reference into the offering memorandum prepared for the resale of
such Shares;

	 	 	 

	 	 	(c) Dealer and/or Hedging Party shall sell the Delivered Shares or the Shares
delivered by Counterparty in connection with Early Termination Stock Settlement,
as the case may be, in a commercially reasonable manner until the amount received
by Dealer and Hedging Party for the sale of the Shares 
(the “ Proceeds Amount  ”) is
equal to the Net Physical Settlement Amount or the Transaction Early Termination
Amount, as applicable. Any remaining delivered Shares shall be returned to
Counterparty. If the Proceeds Amount is less than the Net Physical Settlement
Amount or the Transaction Early Termination Amount, as applicable, Counterparty
shall promptly deliver upon notice from Dealer or Hedging Party (or an affiliate
of Hedging Party designated by Hedging Party) additional Shares to Dealer until
the dollar amount from the sale of such Shares by Dealer, or Hedging Party, as the
case may be, equals the difference between the Net Physical Settlement Amount or
the Transaction Early Termination Amount, as applicable, and the Proceeds Amount.
In no event shall Counterparty be required to deliver to Dealer a number of Shares

OTC
Warrant Confirmation (2015)

11

 

	 	 	 
	 	 	     greater than the Maximum Deliverable Share Amount.

	 
	 	 	Notwithstanding the foregoing: (I) if Counterparty has elected to deliver Shares
as described in paragraph (a) above and either (A) Counterparty does not provide
for the sale of the Shares under the Registration Statement as provided in the
Registration Rights Agreement, (B) the due diligence investigation referred to in
clause (A) of the second preceding paragraph does not yield a result reasonably
satisfactory to Dealer and Hedging Party (or an affiliate of Hedging Party
designated by Hedging Party), (C) some Shares cannot be registered under the
Registration Statement due to Rule 415(a)(4) under the Securities Act or (D) some
Shares cannot be sold due to the application of a blackout period or the failure
of the Registration Statement to become effective on or prior to the date on which
the relevant delivery obligation is due, then the provisions of the preceding
paragraph shall apply to the extent Counterparty has not satisfied its obligations
hereunder. (II) If the preceding paragraph is applicable and Counterparty fails to
satisfy its obligations under such paragraph, then Counterparty may deliver
unregistered Shares of equivalent value to the Net Physical Settlement Amount or
the Transaction Early Termination Amount, as applicable, (or, if applicable, the
unsatisfied portion thereof). The value of any unregistered Shares so delivered
shall be discounted to reflect an appropriate liquidity discount (determined by
Hedging Party in a commercially reasonable manner, taking into account Hedging
Party’s policies and determinations with respect to any transfer restrictions that
it deems advisable, based on the advice of counsel, to observe in connection with
sales of such Shares). (III) If some or all of the Delivered Shares or Shares
delivered in connection with an Early Termination Stock Settlement, as applicable,
cannot be used to close out stock loans in the shares of Counterparty entered into
to establish or maintain short positions by Hedging Party in connection with this
Transaction without a prospectus being required by applicable law to be delivered
to such lender, then the value of any such Shares shall reflect the cost
(determined by Hedging Party in good faith and in a commercially reasonable
manner) to Hedging Party of trading Shares in order to close out its hedge
position if any, and the number of Shares required to be delivered shall be
adjusted accordingly. In no event shall Counterparty be required to (i) top-up the
delivery in cash or (ii) deliver to Dealer a number of Shares greater than the
Maximum Deliverable Share Amount.

	 	 	 

	Compliance With Securities Laws:
	 	Counterparty represents and agrees that it has complied, and will comply, in
connection with this Transaction and all related or contemporaneous sales and
purchases of Shares, with the applicable provisions of the Securities Act, the
Exchange Act and the rules and regulations promulgated thereunder, including,
without limitation, Rule 10b-5 and 13e and Regulation M under the Exchange Act.

	 	 	 

	 	 	Each party acknowledges that the offer and sale of the Transaction to it is
intended to be exempt from registration under the Securities Act by virtue of
Section 4(2) thereof. Accordingly, each party represents and warrants to the
other party that (i) it has the financial ability to bear the economic risk of its
investment in the Transaction and is able to bear a total loss of its investment,
(ii) it is an “accredited investor” as that term is defined in Regulation D as
promulgated under the Securities Act and (iii) the disposition of the Transaction
is restricted under this Confirmation, the Securities Act and state securities
laws.

Counterparty further represents and warrants to Buyer and GS:

	 
	 	 	(a) Counterparty is not entering into this Transaction to create

OTC Warrant Confirmation (2015)

12

 

	 	 	 
	 	 	actual or
apparent trading activity in the Shares (or any security convertible into or
exchangeable for Shares) or to raise or depress or otherwise manipulate the price
of the Shares (or any security convertible into or exchangeable for Shares);

	 	 	 

	 	 	(b) Counterparty represents and acknowledges with Buyer and GS that as of the date
hereof and without limiting the generality of Section 13.1 of the Equity
Definitions, Dealer or GS is not making any representations or warranties with
respect to the treatment of the Transaction under FASB Statements 149, 150 or 157,
EITF Issue No. 00-19 (or any successor issue statements), under FASB’s Liabilities
& Equity Project or under any other accounting standards or guidance;

	 	 	 

	 	 	(c) Counterparty is not, and after giving effect to the Transaction contemplated
hereby, will not be, an “investment company” as such term is defined in the
Investment Company Act of 1940, as amended;

	 	 	 

	 	 	(d) As of the Trade Date and each date on which a payment of cash is made by
Counterparty hereunder, (i) the assets of Counterparty at their fair valuation
exceed the liabilities of Counterparty, including contingent liabilities; (ii) the
capital of Counterparty is adequate to conduct its business; and
(iii) Counterparty has the ability to pay its debts and other obligations as such
obligations mature and does not intend to, or believe that it will, incur debt or
other obligations beyond its ability to pay as such obligations mature.

	 	 	 

	Account Details:
	 	Account for payments to Counterparty:

	 	 	Account Name:    Mylan Laboratories Inc.

	 	 	Bank Name:           Huntington National Bank

	 	 	ABA #:                  44000024

	 	 	A/C #:                    1411114335

	 	 	Swift code:            HUNTUS33

	 	 	 

	 	 	Account for payments to Dealer:

	 	 	To be advised

	 	 	 

	Agreement Regarding Shares:
	 	Counterparty agrees that, in respect of any Shares delivered to Dealer, such
Shares shall be, upon such delivery, duly and validly authorized, issued and
outstanding, fully paid and non-assessable and subject to no adverse claims of any
other party. The issuance of such Shares does not and will not require the
consent, approval, authorization, registration or qualification of any government
authority, except such as shall have been obtained on or before the delivery date
of any Shares or as may be required in connection with any Registration Statement
filed with respect to any Shares.

	 	 	 

	Bankruptcy Rights:
	 	In the event of Counterparty’s bankruptcy, Dealer’s rights in connection with this
Transaction shall not exceed those rights held by common shareholders. For the
avoidance of doubt, the parties acknowledge and agree that Dealer’s rights with
respect to any other claim arising from this Transaction prior to Counterparty’s
bankruptcy shall remain in full force and effect and shall not be otherwise
abridged or modified in connection herewith.

OTC Warrant Confirmation (2015)

13

 

	 	 	 
	Set-Off:
	 	Each party waives any and all rights it may have to set-off, whether arising under
any agreement, applicable law or otherwise.

	 	 	 

	Transfer:
	 	Neither party may transfer its rights or delegate its obligations under this
Transaction without the prior written consent of the other party, except that
Dealer, after payment in full of the Premium, may assign its rights and delegate
its obligations hereunder, in whole or in part, to any other person (an
" Assignee  ”) with the prior consent of the Counterparty (such consent not to be
unreasonably withheld or delayed). In addition, Dealer may assign and delegate
its rights and obligations under this Transaction to any subsidiary of Wells Fargo
& Co (an “ Assignee  ”) by notice specifying the effective date of such transfer
(“ Transfer Effective Date  ”) and including an (i) executed acceptance and
assumption by the Assignee of such rights and obligations; provided that
Counterparty will not, as a result of such transfer, be required to pay to the
Assignee an amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) of
the Agreement (except in respect of interest under Section 2(e), 6(d)(ii), or
6(e)) greater than the amount in respect of which Counterparty would have been
required to pay to Dealer in the absence of such transfer; and (ii) the Assignee
will not, as a result of such transfer, be required to withhold or deduct on
account of a Tax under Section 2(d)(i) of the Agreement (except in respect of
interest under Section 2(e), 6(d)(ii), or 6(e)) an amount in excess of that which
Dealer would have been required to withhold or deduct in the absence of such
transfer, unless the Assignee would be required to make additional payments
pursuant to Section 2(d)(i)(4) of the Agreement corresponding to such excess.

	 	 	 

	 	 	On the Transfer Effective Date, (a) Dealer shall be released from all obligations
and liabilities arising under this Transaction; and (b) the assigned and delegated
rights and obligations under this Transaction shall cease to be a Transaction
under the Agreement and shall be deemed to be a Transaction under an ISDA form of
Master Agreement (Multicurrency-Cross Border) and Schedule substantially in the
form of the Agreement but amended to reflect the name of the Assignee and the
address for notices and any amended representations under Part 2 of the Agreement
as may be specified in the notice of transfer.

	 	 	 

	 	 	Notwithstanding any other provision in this Confirmation to the contrary requiring
or allowing Dealer to purchase, sell, receive or deliver any Shares or other
securities to or from Counterparty, Dealer may designate any of its affiliates, or
Hedging Party, in which event Hedging Party may designate any of its affiliates,
to purchase, sell, receive or deliver such Shares or other securities and
otherwise to perform Dealer’s obligations in respect of this Transaction and any
such designee may assume such obligations. Dealer shall be discharged of its
obligations to Counterparty to the extent of any such performance.

	 	 	 

	 	 	Upon a transfer under this provision, GS (if then the Calculation Agent and
Hedging Party) shall remain the Calculation Agent and Hedging Party.

	 	 	 

	Indemnity:
	 	Counterparty agrees to indemnify Dealer, GS, their respective Affiliates and their
respective directors, officers, agents and controlling parties (each such person
being an “ Indemnified Party  ”) from and against any and all losses, claims, damages
and liabilities, joint and several, to which such Indemnified Party may become
subject because of a breach of any representation or covenant hereunder, in the
Agreement or any other agreement relating to the Agreement or Transaction and will
reimburse Indemnified Party for all reasonable expenses (including reasonable
legal fees and expenses) as they are incurred in connection with the investigation
of, preparation for, or defense of, any pending or threatened claim or any action
or proceeding arising therefrom, whether or

OTC Warrant Confirmation (2015)

14

 

	 	 	 
	 	 	not such Indemnified Party is a party thereto. Seller will not be liable under the
foregoing Indemnity provision to the extent that any loss, claim, damage,
liability or expense is found in a final judgment by a court to have resulted from
Dealer’s gross negligence or willful misconduct.

	 	 	 

	Right to Extend:
	 	Dealer or GS may postpone, in whole or in part, any Expiration Date or any other
date of valuation or delivery with respect to some or all of the relevant Warrants
(in which event the Calculation Agent shall make appropriate adjustments to the
Daily Number of Warrants with respect to one or more Expiration Dates) if Dealer
or GS determines, in its commercially reasonable judgment, that such extension is
reasonably necessary or appropriate to preserve Dealer’s or GS’s hedging or hedge
unwind activity hereunder in light of existing liquidity conditions or to enable
Dealer or GS to effect purchases of Shares in connection with its hedging, hedge
unwind or settlement activity hereunder in a manner that would, if Dealer or GS
were Issuer or an affiliated purchaser of Issuer, be in compliance with applicable
legal, regulatory or self-regulatory requirements, or with related policies and
procedures applicable to Dealer.

Additional Agreements, Representations and Covenants of Counterparty, Etc.:

	(a)	 	Counterparty hereby represents and warrants to Dealer, on each day from the Trade Date to and
including the earlier of (i) October 7, 2008 and (ii) the date by which Dealer is able to
initially complete a hedge of its position created by this Transaction, that:

	 	(1)	 	it will not, and will not permit any person or entity subject to its control
to, bid for or purchase Shares during such period except pursuant to transactions or
arrangements which have been approved by GS; and
	 
	 	(2)	 	it has publicly disclosed all material information necessary for it to be able
to purchase or sell Shares in compliance with applicable federal securities laws.

	(b)	 	No collateral shall be required by either party for any reason in connection with this
Transaction.

	(c)	 	Issuer understands no obligations of Dealer to it hereunder will be entitled to the benefit
of deposit insurance and that such obligations will not be guaranteed by any affiliate of
Dealer or any governmental agency.

	(d)	 	Notwithstanding anything to the contrary herein, Dealer shall not be entitled to receive, nor
shall be deemed to receive, any Shares deliverable hereunder to the extent (but only to the
extent) that after such receipt of any Shares the Dealer Ownership Percentage (as defined
below) would exceed 4.0% or the receipt of such Shares would require prior regulatory approval
by a State or federal regulator and such approval has not been received or the receipt of such
Shares would otherwise be prohibited under any State or federal bank holding company or
banking laws, regulations or regulatory orders applicable to ownership of Shares
(“Applicable Law”)(a “Dealer Excess Ownership Position”). The “Dealer
Ownership Percentage” as of any day is the fraction, expressed as a percentage, (A) the
numerator of which is the greater of (1) the number of Shares that Dealer and its affiliates
subject to aggregation with Dealer for purposes of the “beneficial ownership” test under
Section 13 of the Exchange Act and all persons who may form a “group” (within the meaning of
Rule 13d-5(b)(1) under the Exchange Act but excluding any group formed for the affirmative
purpose of changing or influencing control of the Issuer) with Dealer (collectively,
“Dealer Group”) “beneficially own” (within the meaning of Section 13 of the Exchange
Act) without duplication on such day and (2) the number of shares that Dealer and all persons
comprising part of the same “acquiring person” as Dealer “beneficially own”, as each such term
is used in Counterparty’s Rights Agreement between the Counterparty and American Stock
Transfer & Trust Company dated as of August 22, 1996, as amended as of November 8, 1999,
August 13, 2004, September 8, 2004, December 2, 2004 and December 19, 2005 (as so amended and
as may be subsequently amended, supplemented or

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15

 

	 	 	replaced from time to time, the “Rights Agreement”), on such day and (B) the denominator of
which is the number of Shares outstanding on such day.
	 
	 	 	If any delivery owed to Dealer hereunder is not made, in whole or in part, as a result of
this provision, Counterparty’s obligation to make such delivery shall not be extinguished
and Counterparty shall make such delivery as promptly as practicable after Dealer gives
notice that such delivery would not result in the existence of a Dealer Excess Ownership
Position.

Amendments to Equity Definitions:

(i) The first sentence of Section 11.2(c) of the Equity Definitions,
prior to clause (A) thereof, is hereby amended to read as follows:
‘(c) If “Calculation Agent Adjustment” is specified as the Method of
Adjustment in the related Confirmation of a Share Option
Transaction, then following the announcement or occurrence of any
Potential Adjustment Event, the Calculation Agent will determine
whether such Potential Adjustment Event has a material effect on the
theoretical value of the relevant Shares or options on the Shares
and, if so, will (i) make appropriate adjustment(s), if any, to any
one or more of:’ and, the portion of such sentence immediately
preceding clause (ii) thereof is hereby amended by deleting the
words “diluting or concentrative” and replacing them with
“material”, and deleting the words “(provided that no adjustments
will be made to account solely for changes in volatility, expected
dividends, stock loan rate or liquidity relative to the relevant
Shares)” and replacing such latter phrase with the words “(and, for
the avoidance of doubt, adjustments may be made to account solely
for changes in volatility, expected dividends, stock loan rate or
liquidity relative to the relevant Shares)”;

(ii) Sections 11.2(a) and 11.2(e)(vii) of the Equity Definitions are
hereby amended by deleting the words “diluting or concentrative” and
replacing them with “material” and adding the phrase “or options on
the Shares” at the end of the sentence;

ISDA Master Agreement: 

With respect to the Agreement, Dealer and Counterparty each agree as
follows:

“Specified Entity” means in relation to Seller and in
relation to Counterparty for purposes of this Transaction: Not
applicable.

The provisions of “Default under Specified Transaction” as
set forth in Section 5(a)(v) of the Agreement shall not apply to
Dealer or Counterparty.

The “Cross Default” provisions of Section 5(a)(vi) of the Agreement will apply to
Counterparty; provided that the text of Section 5(a)(vi) following the words “occurrence or
existence of” in the second line thereof through the end of such Section 5(a)(vi) shall be replaced
in its entirety by the following:

one or more defaults under any of the agreements, indentures or instruments under which
Issuer or any “significant subsidiary” (as such term is defined in Regulation S-X
promulgated under the Securities Act of 1933) of Issuer then has outstanding indebtedness in
excess of $50 million, individually or in the aggregate, and either (a) such default results
from the failure to pay such indebtedness at its stated final maturity and such default has
not been cured or the indebtedness repaid in full within ten days of the default or (b) such
default or defaults have resulted in the acceleration of the maturity of such indebtedness
and such acceleration has not been rescinded or such indebtedness repaid in full within ten
days of the acceleration;

The “Credit Event Upon Merger” provisions of
Section 5(b)(v) of the Agreement will not apply to Dealer or
to Counterparty.

Payments on Early Termination. For the purpose of
Section 6(e) of the Agreement: (i) Loss shall apply; and
(ii) the Second Method shall apply.

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16

 

Additional Termination Events.

The occurrence of any of the following shall constitute an
Additional Termination Event with respect to which the Transaction
shall be the sole Affected Transaction and Counterparty shall be the
sole Affected Party; provided that with respect to any
Additional Termination Event, Dealer or Hedging Party may choose to
treat part of the Transaction as the sole Affected Transaction, and,
upon the termination of the Affected Transaction, a Transaction with
terms identical to those set forth herein except with a Number of
Warrants equal to the unaffected number of Warrants shall be treated
for all purposes as the Transaction, which shall remain in full
force and effect:

	 	          (i) within the period commencing on the Trade Date and ending on the second anniversary
of the Premium Payment Date, Hedging Party reasonably determines that it is advisable to
terminate a portion of the Transaction so that Hedging Party’s related hedging activities
will comply with applicable securities laws, rules or regulations; or
	 
	 	          (ii) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5
under the Exchange Act), directly or indirectly, of voting stock representing 50% or more of
the total voting power of all outstanding voting stock of the Issuer, other than an
acquisition by the Issuer, any of the Issuer’s subsidiaries or any of the Issuer’s employee
benefit plans; provided that this clause (ii) shall not apply to a merger of the Issuer with
or into a wholly-owned subsidiary of an issuer that has a class of common stock or American
Depositary Receipts in respect of common stock traded on the New York Stock Exchange, NASDAQ
Global Select Market, NASDAQ Global Market or the American Stock Exchange if immediately
following the transaction or series of transactions the holders of the Issuer’s common stock
immediately before such transaction are entitled to exercise, directly or indirectly, 50% or
more of the voting power of all shares of capital stock entitled to vote generally in the
election of directors of such issuer; or
	 
	 	          (iii) the Issuer consolidates with, or merges with or into, another person or the
Issuer sells, assigns, conveys, transfers, leases or otherwise disposes of all or
substantially all of its assets to any person, other than any such transaction where
immediately after such transaction the person or persons that “beneficially owned” (as
defined in Rules 13d-3 and 13d-5 under the Exchange Act) immediately prior to such
transaction, directly or indirectly, voting stock representing a majority of the total
voting power of all outstanding voting stock of Counterparty, “beneficially own or owns” (as
so determined), directly or indirectly, voting stock representing a majority of the total
voting power of the outstanding voting stock of the surviving or transferee person and such
surviving or transferee person has a class of common stock or American Depositary Receipts
in respect of common stock traded on the New York Stock Exchange, NASDAQ Global Select
Market, NASDAQ Global Market or the American Stock Exchange; or
	 
	 	          (iv) the adoption of a plan of liquidation or dissolution of the Issuer; or
	 
	 	          (v) during any consecutive two-year period, the continuing directors cease for any
reason to constitute a majority of the board of directors of the Issuer; for purposes of
this clause (v), “continuing directors” means, as of any date of determination, any member
of the board of directors of the Issuer who was (a) a member of such board of directors on
the Effective Date or (b) nominated for election or elected to such board of directors with
the approval of a majority of the continuing directors who were members of such board at the
time of such nomination or election; or
	 
	 	          (vi) the Shares (or other common stock into which the Shares have been converted or for
which the Shares have been exchanged in connection with any merger, reclassification or
recapitalization of Counterparty) are not listed for trading on the New York Stock Exchange
or the NASDAQ Global Market or the NASDAQ Global Select Market (or their respective
successors) or cease to be so traded or quoted in contemplation of a delisting or withdrawal
of approval.

     Notwithstanding the foregoing, a transaction described in clause (ii) or (iii) above will not
constitute an Additional Termination Event if at least 90% of the consideration for the Shares
(excluding cash payments for fractional shares and cash payments made in respect of dissenters’
appraisal rights) in the transaction or transactions consists of common stock and any associated
rights listed on a United States national securities exchange, or which

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17

 

will be so traded or quoted when issued or exchanged in connection with such transaction, and
as a result of such transaction or transactions the Warrants hereunder become convertible into
consideration consisting of at least 90% of such common stock.

The “Automatic Early Termination” provision of
Section 6(a) of the Agreement will not apply to Dealer or to
Counterparty.

“Termination Currency” means USD.

Tax Representations.

	(I)	 	Payer Representations. For the purpose of Section 3(e) of the Agreement,
each party represents to the other party that it is not required by any applicable
law, as modified by the practice of any relevant governmental revenue authority, of
any Relevant Jurisdiction to make any deduction or withholding for or on account of
any Tax from any payment (other than interest under Section 2(e), 6(d)(ii), or 6(e)
of the Agreement) to be made by it to the other party under the Agreement. In
making this representation, each party may rely on (i) the accuracy of any
representations made by the other party pursuant to Section 3(f) of the Agreement,
(ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of
the Agreement, and the accuracy and effectiveness of any document provided by the
other party pursuant to Section 4(a)(i) or 4(a)(iii) of the Agreement, and (iii) the
satisfaction of the agreement of the other party contained in Section 4(d) of the
Agreement; provided that it will not be a breach of this representation
where reliance is placed on clause (ii) above and the other party does not deliver a
form or document under Section 4(a)(iii) of the Agreement by reason of material
prejudice to its legal or commercial position.

	(II)	 	Payee Representations. For the purpose of Section 3(f) of the Agreement,
each party makes the following representations to the other party:

	 	(i)	 	Dealer represents that it is a national banking association organized under the
laws of the United States.
	 
	 	(ii)	 	Counterparty represents that it is a corporation incorporated in Pennsylvania.

Delivery Requirements. For the purpose of Sections 4(a)(i)
and (ii) of the Agreement, each party agrees to deliver the
following documents:

	(a)	 	Tax forms, documents or certificates to be delivered are:
	 
	 	 	Dealer agrees to complete (accurately and in a manner reasonably satisfactory to
Counterparty), execute, and deliver to Counterparty, United States Internal Revenue Service
Form W-9 and all required attachments, or any successor of such form(s): (i) before the
first payment date under this agreement; (ii) promptly upon reasonable demand by
Counterparty; and (iii) promptly upon learning that any such Form previously provided by
Dealer has become obsolete or incorrect.
	 
	 	 	Counterparty agrees to complete (accurately and in a manner reasonably satisfactory to
Dealer), execute, and deliver to Dealer, United States Internal Revenue Service Form W-9, or
any successor of such form(s): (i) before the first payment date under this agreement;
(ii) promptly upon reasonable demand by Dealer; and (iii) promptly upon learning that any
such form(s) previously provided by Counterparty has become obsolete or incorrect.
	 
	(b)	 	Other documents to be delivered (to opposite party; also to GS where indicated):

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Covered by
	Party Required to	 	 	 	 	 	Section 3(d)
	Deliver Document	 	Document Required to be Delivered	 	When Required	 	Representation
	Counterparty, and

	 	Evidence of the authority and
true	 	Upon or before
	 	Yes

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	 	 	 	 	 	 	Covered by
	Party Required to	 	 	 	 	 	Section 3(d)
	Deliver Document	 	Document Required to be Delivered	 	When Required	 	Representation
	Dealer

	 	signatures of each official
or representative signing this
Confirmation (also to GS)
	 	execution and
delivery of this
Confirmation
	 	Yes
	 
	Counterparty

	 	Certified copy of the resolution
of the Board of Directors or
equivalent document authorizing
the execution and delivery of
this Confirmation and such other
certificate or certificates as
Dealer shall reasonably request
(also to GS)
	 	Upon or before
execution and
delivery of this
Confirmation
	 	Yes
	 
	 	 	 	 	 	 
	Counterparty

	 	An opinion of counsel, dated as
of the Effective Date and
reasonably acceptable to Dealer
in form and substance, with
respect to the matters set forth
in Section 3(a) of the Agreement
(also to GS, as reasonably
acceptable to GS in form and
substance)
	 	Upon or before
September 15, 2008
	 	No

Effectiveness. If, prior to the Effective Date, Dealer or Hedging
Party reasonably determines that it is advisable to cancel the
Transaction because of concerns that Dealer’s or Hedging Party’s
related hedging activities could be viewed as not complying with
applicable securities laws, rules or regulations, such Transaction
shall be cancelled and shall not become effective, and neither party
shall have any obligation in respect of such Transaction.

Addresses
for Notices: For the purpose of Section 12(a) of the Agreement:

Address for notices or communications to Dealer for all purposes:

	 	 	 
	Address:

	 	Wells Fargo Bank, National Association
	Attention:

	 	550 California Street
	 

	 	14th Floor
	 

	 	San Francisco, CA 94104
	Facsimile No.:

	 	(415) 646-9208
	Telephone No.:

	 	(415) 396-3962

Address for notices or communications to GS for all purposes:

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19

 

	 	 	 
	Address:

	 	Goldman Sachs International
	Attention:

	 	Equity Operations: Operations and Derivatives
	 

	 	c/o Goldman, Sachs & Co.
	 

	 	One New York Plaza
	 

	 	New York, NY 10004
	Facsimile No.:

	 	(212) 428-1980/1983
	Telephone No.:

	 	(212) 902-1981

Address for notices or communications to Counterparty for all purposes:

	 	 	 	 	 
	Address:

	 	1500 Corporate Drive	 	 
	 

	 	Canonsburg, PA 15317	 	 
	 	 	Attention: Edward J. Borkowski, Chief Financial Officer
	 

	 	Facsimile No.:    (724) 514 1871
	 

	 	Telephone No.:
   (724) 514 1870

Multibranch Party. For the purpose of Section 10(c) of the
Agreement: Neither Dealer, GS nor Counterparty is a Multibranch
Party.

Calculation Agent. “Calculation Agent” means GS. Upon the request
of either party, the Calculation Agent (or, in the case of a
determination made by a party (including a party acting as Hedging
Party or Determining Party), such party) shall, no later than the
5th Business Day following such request, provide the parties with a
statement showing, in reasonable detail, the computations (including
any relevant quotations) by which it has determined any amount
payable or deliverable under, or any adjustment to the terms of,
this Transaction; provided that in no event shall Calculation Agent
be required to disclose its proprietary models or other proprietary
information. All judgments, determinations and calculations
hereunder by the Calculation Agent or by a party hereto shall be
performed in good faith and in a commercially reasonable manner.

Credit Support Provider.

With respect to Dealer: Not Applicable

With respect to Counterparty: Not Applicable.

Governing Law. This Confirmation will be governed by, and construed
in accordance with, the laws of the State of New York.

Submission to Jurisdiction. Each party hereby irrevocably and
unconditionally submits for itself and its property in any legal
action or proceeding by the other party against it relating to the
Transaction to which it is a party, or for recognition and
enforcement of any judgment in respect thereof, to the exclusive
jurisdiction of the Supreme Court of the State of New York, sitting
in New York County, the courts of the United States of America for
the Southern District of New York, and appellate courts from any
thereof.

Waiver of Jury Trial. Each party waives, to the fullest extent
permitted by applicable law, any right it may have to a trial by
jury in respect of any suit, action or proceeding relating to this
Transaction. Each party (i) certifies that no representative, agent
or attorney of the other party has represented, expressly or
otherwise, that such other party would not, in the event of such a
suit, action or proceeding, seek to enforce the foregoing waiver and
(ii) acknowledges that it and the other party have been induced to
enter into this Transaction, as applicable, by, among other things,
the mutual waivers and certifications provided herein.

Netting of Payments. The provisions of Section 2(c) of the
Agreement shall not be applicable to this Transaction.

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20

 

Basic Representations. Section 3(a) of the Agreement is
hereby amended by the deletion of “and” at the end of
Section 3(a)(iv); the substitution of a semicolon for the
period at the end of Section 3(a)(v) and the addition of
Sections 3(a)(vi), as follows:

Eligible Contract Participant; Line of Business. Each party agrees and represents that it
is an “eligible contract participant” as defined in Section 1 (a)(12) of the U.S. Commodity
Exchange Act, as amended (“CEA”), this Agreement and the Transaction thereunder are subject
to individual negotiation by the parties and have not been executed or traded on a “trading
facility” as defined in Section 1(a)(33) of the CEA, and it has entered into this
Confirmation and this Transaction in connection with its business or a line of business
(including financial intermediation), or the financing of its business.

Acknowledgements:

	(a)	 	The parties acknowledge and agree that there are no other representations, agreements or
other undertakings of the parties in relation to this Transaction, except as set forth in this
Confirmation and the Agreement.

	(b)	 	The parties hereto intend for:

	 	(i)	 	Buyer be a “financial institution” as defined in Section 101(22) of Title 11 of
the United States Code (the “Bankruptcy Code”) and this Transaction to be a
“securities contract” as defined in Section 741(7) of the Bankruptcy Code and a “swap
agreement” as defined in Section 101(53C) of the Bankruptcy Code, qualifying for the
protections of, among other sections, Sections 362(b)(6), 362 (b)(17), 546(e), 546(g),
555 and 560 of the Bankruptcy Code;
	 
	 	(ii)	 	a party’s right to liquidate this Transaction and to exercise any other
remedies upon the occurrence of any Event of Default under the Agreement with respect
to the other party to constitute a “contractual right” as defined in the Bankruptcy
Code;
	 
	 	(iii)	 	all payments for, under or in connection with this Transaction, all payments
for the Shares and the transfer of such Shares to constitute “settlement payments” as
defined in the Bankruptcy Code.

Amendment of Section 6(d)(ii). Section 6(d)(ii) of the
Agreement is modified by deleting the words “on the day” in the
second line thereof and substituting therefor “on the day that is
three Local Business Days after the day”. Section 6(d)(ii)
is further modified by deleting the words “two Local Business Days”
in the fourth line thereof and substituting therefor “three Local
Business Days.”

Third Party Beneficiary. GS shall be the third party beneficiary of
Issuer’s representations, warranties, agreements, indemnities and
other obligations hereunder and will have a right to directly
enforce those obligations against the Issuer.

Consent to Recording. Each party consents to the recording of the
telephone conversations of trading and marketing personnel of the
parties and their Affiliates in connection with this Confirmation.
To the extent that one party records telephone conversations (the
“Recording Party”) and the other party does not (the “Non-Recording
Party”), the Recording Party shall in the event of any dispute, make
a complete and unedited copy of such party’s tape of the entire
day’s conversations with the Non-Recording Party’s personnel
available to the Non-Recording Party. The Recording Party’s tapes
may be used by either party in any forum in which a dispute is
sought to be resolved and the Recording Party will retain tapes for
a consistent period of time in accordance with the Recording Party’s
policy unless one party notifies the other that a particular
transaction is under review and warrants further retention.

Disclosure. Each party hereby acknowledges and agrees that Dealer
has authorized Counterparty to disclose this Transaction and any
related hedging transaction between the parties if and to the extent
that Counterparty reasonably determines (after consultation with
Dealer) that such disclosure is required by law or by the rules of
the New York Stock Exchange or any securities exchange.
Notwithstanding the foregoing, effective from the date of

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21

 

 commencement of discussions concerning the Transaction,
Counterparty and each of its employees, representatives, or other
agents may disclose to any and all persons, without limitation of
any kind, the tax treatment and tax structure of the Transaction and
all materials of any kind (including opinions or other tax analyses)
that are provided to Counterparty relating to such tax treatment and
tax structure.

Severability. If any term, provision, covenant or condition of this
Confirmation, or the application thereof to any party or
circumstance, shall be held to be invalid or unenforceable in whole
or in part for any reason, the remaining terms, provisions,
covenants, and conditions hereof shall continue in full force and
effect as if this Confirmation had been executed with the invalid or
unenforceable provision eliminated, so long as this Confirmation as
so modified continues to express, without material change, the
original intentions of the parties as to the subject matter of this
Confirmation and the deletion of such portion of this Confirmation
will not substantially impair the respective benefits or
expectations of parties to this Agreement; provided,
however, that this severability provision shall not be
applicable if any provision of Section 2, 5,
6 or 13 of the Agreement (or any definition or
provision in Section 14 to the extent that it relates to, or
is used in or in connection with any such Section) shall be so held
to be invalid or unenforceable.

Affected Parties. For purposes of Section 6(e) of the
Agreement, each party shall be deemed to be an Affected Party in
connection with Illegality and any Tax Event.

[Signatures follow on separate page]

OTC
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22

 

     Please confirm that the foregoing correctly sets forth the terms of our agreement by executing the
copy of this Confirmation enclosed for that purpose and returning it to us.

	 	 	 	 	 
	 	Very truly yours,

WELLS FARGO BANK,

     NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Authorized Signatory	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

Confirmed as of the date first above written:

				
	MYLAN INC.

 	 
	By:  	/s/ Brian Byala	 
	Name:  	Brian Byala	 
	Title:  	 Authorized Signatory

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