Document:

EX-10.66

 Exhibit 10.66 

EXECUTION VERSION 

SETTLEMENT AGREEMENT AND MUTUAL RELEASES 

This Settlement Agreement and Mutual Releases (the “Agreement”) is entered into as of January 31, 2018 (the “Effective
Date”) by and between Teva Pharmaceutical Industries Ltd. (“Teva”) and Allergan plc (“Allergan”). Teva and Allergan shall be referred to collectively as the “Parties” and individually as a “Party.” 

RECITALS 

WHEREAS, on July 26, 2015, the Parties entered into a Master Purchase Agreement which was amended by the First Amendment to the
Master Purchase Agreement dated as of June 9, 2016, the Second Amendment to the Master Purchase Agreement dated as of July 5, 2016 and the Third Amendment to the Master Purchase Agreement dated as of July 11, 2016 (the
“MPA”) through which Teva acquired the Business (the “Transaction”) (capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the MPA); 

WHEREAS, on August 2, 2016 (the “Closing Date”), the Transaction closed and Teva became the owner of the Business; 

WHEREAS, after the Closing Date, the Parties initiated arbitration under Section 3.3 of the MPA in response to Teva’s claim
for a purchase price adjustment of nearly $1.5 billion (inclusive of all Claims by either Party under Section 3.3 of the MPA, the “Working Capital Dispute”); 

WHEREAS, Teva and Allergan have made submissions to the Reporting Accountants in connection with the Working Capital Dispute (the
“Submissions”); 
 WHEREAS, on October 30, 2017, Teva asserted several claims for indemnification under
Section 12.2 of the MPA (“October 2017 Notice”), including reiterating, restating, and updating claims for indemnification made on November 30, 2016 (such claims for indemnification, together with the claims for indemnification in the
October 2017 Notice, the “Teva Asserted Claims”) (the Teva Asserted Claims, collectively with any indemnification claims that Teva potentially could assert now or in the future under Section 12.2(a)(i) or Section 12.2(a)(iv) of
the MPA, are referred to as the “Teva Indemnification Claims”); 
 WHEREAS, on November 2, 2017, Allergan asserted
several claims for indemnification under Section 12.3 of the MPA (the “November 2017 Notice”), including reiterating, restating and updating claims for indemnification made on November 18, 2016 and July 13, 2017 (such claims
for indemnification in the November 2017 Notice, the “Allergan Asserted Claims”) (the Allergan Asserted Claims, collectively with any indemnification claims that Allergan potentially could assert now or in the future under
Section 12.3(a)(i) of the MPA, are referred to as the “Allergan Indemnification Claims”); 
 WHEREAS, by this
Agreement, the Parties desire to resolve any and all disputes arising out of, relating to, or in any way connected to the MPA, including but not limited to the Working Capital Dispute, the Teva Indemnification Claims and the Allergan Indemnification
Claims, and to avoid future disputes under the MPA; it is the Parties’ intention that, on and after the date hereof, (i) the only remedies available to Teva under the MPA are (A) indemnification under

 
Section 12.2(a)(ii) of the MPA for unknown breaches by Allergan of covenants that were intended to be performed by Allergan after the Closing, (B) indemnification under
Section 12.2(a)(iii) of the MPA (Excluded Liability), and (C) specific enforcement of Allergan’s ongoing covenants; and (ii) the only remedies available to Allergan under the MPA are (A) indemnification under
Section 12.3(a)(ii) of the MPA for unknown breaches by Teva of covenants that were intended to be performed by Teva after the Closing, (B) indemnification under Section 12.3(a)(iii) (Assumed Liability) or Section 12.3(a)(iv) of
the MPA (Liabilities and Claims relating to the operation of the Acquired Assets), and (C) specific enforcement of Teva’s ongoing covenants; 

WHEREAS, this Agreement is entered into for purposes of compromise and settlement only; 

NOW, THEREFORE, in consideration of the foregoing, and the mutual promises and representations contained in this Agreement, and in
exchange for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows: 

AGREEMENT AND MUTUAL RELEASES 

 

	1.	No Admissions. This Agreement is being entered into solely to avoid lengthy, costly and time-consuming disputes. By entering into this Agreement, no Party is admitting any liability or wrongdoing
whatsoever, and each Party continues to deny any and all liability and wrongdoing. This Agreement shall not be construed as an admission by either Party as to the merits of any position adopted by the other Party. 

 

	2.	Dismissal of the Working Capital Dispute. Within two (2) Business Days of the Effective Date, the Parties shall jointly notify the Reporting Accountants that the Parties have reached an agreement in
principle for the resolution of the Working Capital Dispute and that the Reporting Accountants should cease any and all activities relating to the Working Capital Dispute pending further instructions from the Parties. Within one (1) Business
Day of the payment contemplated in Section 3 hereof, the Parties shall jointly notify the Reporting Accountants that the Working Capital Dispute has been finally and fully resolved and that the arbitration is terminated. The Parties shall split
evenly any external costs or expenses associated with the Working Capital Dispute, including the fees and disbursements of the Reporting Accountants, but excluding the fees and expenses of the Parties’ respective advisors. Upon payment of the
Settlement Amount, Allergan’s obligations under Section 3.3(g) and Section 3.3(h) of the MPA shall be fully satisfied. 

  

	3.	Payment. Within thirty (30) days following the Effective Date, Allergan shall pay Teva the sum of US $700,000,000 (the “Settlement Amount”). The Settlement Amount shall be paid by wire
transfer to the following Teva account: 

 MIZRAHI TEFAHOT BANK LTD IL92 0204 6100 0000 0198 781 

Main Branch, Tel Aviv 
 Branch No:
461 
 Account No: 198781 

Swift: MIZBILIT 
 Beneficiary:
Teva Pharmaceutical Industries Ltd. 

  
 2 

	4.	 Agreed Liabilities and Indemnification; Third Party Claim Indemnification Procedures.
Teva agrees, on behalf of itself and each of its successors-in-interest and assigns, that it shall assume, and shall be or become responsible for (i) any
Liabilities or Losses arising from the Third Party Claims listed on Exhibit A hereto, (ii) any Liabilities or Losses arising from the Third Party Claims listed on Exhibit B hereto or arising from any other Third Party Claim, in each case to the
extent such Liabilities or Losses are based upon generic opioid drugs that are Products, and (iii) any Liabilities, Losses or Claims that are, directly or indirectly, jointly or severally, asserted against or imposed on Allergan, its respective
Affiliates and their respective officers, directors, employees, agents, successors and permitted assigns (the “Allergan Parties”) to the extent such Liabilities, Losses or Claims are based on parent or control liability or a substantially
similar theory in connection with any Proceeding involving (1) a member of the Transferred Group and (2) a Product or the Business (collectively, (i), (ii) and (iii), the “Teva Agreed Liabilities”). For the avoidance of doubt,
any Liabilities or Losses arising from the Third Party Claims listed on Exhibit B hereto or arising from any other Third Party Claim, in each case to the extent such Liabilities or Losses are based upon branded opioid drugs of the Retained Business
that are not Products, are Excluded Liabilities under the MPA for which Teva is entitled to indemnification under Section 12.2(a)(iii) of the MPA. Teva further agrees that it will indemnify, defend and hold harmless the Allergan Parties, from,
against and in respect of any and all Losses imposed on, sustained, incurred or suffered by, or asserted against, any of the Allergan Parties, whether in respect of third party claims, claims between the Parties, or otherwise, directly or indirectly
relating to, arising out of, resulting from, based upon the underlying facts of, with respect to or by reason of the Teva Agreed Liabilities. Teva shall have 90 days from the Effective Date to notify Allergan that it desires to defend Allergan
against any of the matters listed on Exhibit A hereto in accordance with the terms of Section 12.4 of the MPA. Unless otherwise agreed by the Parties, (i) Allergan shall be responsible for the defense of Third Party Claims involving opioid
drugs to the extent such Third Party Claims are based upon branded opioid drugs of the Retained Business that are not Products and (ii) Teva shall be responsible for the defense of Third Party Claims involving opioid drugs to the extent such
Third Party Claims are based upon generic opioid drugs that are Products. In the case of Third Party Claims that involve both (i) branded opioid drugs of the Retained Business that are not Products and (ii) generic opioid drugs that are
Products, the Parties shall (x) each be responsible for the defense of such Third Party Claims in accordance with the immediately prior sentence and (y) cooperate with each other to enable the proper and adequate defense of such Third
Party Claim. Each Party further agrees to provide the other Party by no later than February 28, 2018 a supplemental list which includes all additional known Third Party Claims based upon opioid drugs received by such Party on or before
February 25, 2018 (“Supplemental Opioid Case List”), which shall be in substantially the same format as Exhibit B; any Third Party Claims appearing on Exhibit B (or the Supplemental Opioid Case List) shall be deemed to have been
notified by each Party in compliance with Section 12.4 of the MPA. On or before the first Business Day of each month beginning after March 31, 2018, each Party shall provide the other Party with a list of additional Third Party Claims
based upon opioid drugs that have been filed and served upon the Party on or prior to the third to last Business Day of the prior month (“Monthly Opioid 

  
 3 

	 	
Case List”). The Monthly Opioid Case List shall be in substantially the same format as Exhibit B and the Supplemental Opioid Case List, and each Party may request a copy of a complaint
listed thereon. The Parties’ respective rights and obligations pursuant to Section 12.4 of the MPA shall otherwise remain unchanged, including but not limited to the Parties’ obligations to cooperate following the date hereof to
ensure the proper and adequate defense of a Third Party Claim. 

  

	5.	Mutual Releases.  

  

	 	(a)	Teva, for itself and its past and present parents, subsidiaries, affiliates, directors, managers, officers, shareholders, employees, attorneys, agents, representatives, predecessors, successors and assigns, hereby fully
and forever releases and discharges Allergan and its past and present parents, subsidiaries, affiliates, directors, managers, officers, shareholders, employees, attorneys, agents, representatives, predecessors, successors and assigns, from any and
all claims, counterclaims, demands, damages, debts, liabilities, attorneys’ fees, actions, causes of action, obligations and demands whatsoever, whether fixed or contingent, at law or in equity, and now known or unknown (each, a
“Claim”), (i) arising from or in any way relating to (A) the Working Capital Dispute, (B) the Teva Indemnification Claims (except for any Liabilities or Losses arising from the Third Party Claims listed on Exhibit B hereto or
arising from any other Third Party Claim, in each case to the extent such Liabilities or Losses are based upon branded opioid drugs of the Retained Business that are not Products), (C) the Teva Agreed Liabilities, (D) any breach or alleged
breach by Allergan of any representation or warranty contained in the MPA, (E) any breach or alleged breach by Allergan of any covenant in the MPA that was intended to be performed by Allergan or its Affiliates on or prior to the Closing,
(F) any breach or alleged breach by Allergan prior to the date hereof of any covenant in the MPA that was intended to be performed by Allergan or its Affiliates after the Closing (an “Allergan Post-Closing,
Pre-Settlement Covenant Breach”) other than any Allergan Post-Closing, Pre-Settlement Covenant Breach the material underlying facts of which are unknown to Teva as
of the date hereof or (G) the historical financial statements of the Business or the Transferred Group, including any Claim that such financial statements do not comply with U.S. GAAP or any other applicable accounting standards or Laws, or
(ii) for any Losses resulting from any potential Claims that are referenced in the Submissions (collectively, the “Teva Released Claims”). 

  

	 	(b)	 Allergan, for itself and its past and present parents, subsidiaries, affiliates, directors, managers, officers,
shareholders, members, employees, attorneys, agents, representatives, predecessors, successors and assigns, hereby fully and forever releases and discharges Teva and its past and present parents, subsidiaries, affiliates, directors, managers,
officers, shareholders, employees, attorneys, agents, representatives, predecessors, successors and assigns, from any and all Claims (i) arising from or in any way relating to (A) the Working Capital Dispute, (B) the Direct Claims
specified in the November 2017 Notice, (C) the Third Party Claims for indemnification listed on Exhibit C hereto, (D) any breach or alleged 

  
 4 

	 	
breach by Teva of any representation or warranty contained in the MPA, (E) any breach or alleged breach by Teva of any covenant in the MPA that was intended to be performed by Teva or its
Affiliates on or prior to the Closing or (F) any breach or alleged breach by Teva prior to the date hereof of any covenant in the MPA that was intended to be performed by Teva or its Affiliates after the Closing (a “Teva Post-Closing, Pre-Settlement Covenant Breach”) other than any Teva Post-Closing, Pre-Settlement Covenant Breach the material underlying facts of which are unknown to Allergan as of the
date hereof, or (ii) for any Losses resulting from any potential Claims that are referenced in the Submissions (collectively, the “Allergan Released Claims”). 

 

	 	(c)	Except as provided herein, (i) Teva shall continue to have rights to indemnification under Section 12.2(a)(ii) and Section 12.2(a)(iii) of the MPA; and (ii) Allergan shall continue to have rights to
indemnification under Section 12.3(a)(ii), Section 12.3(a)(iii) and Section 12.3(a)(iv) of the MPA. For the avoidance of doubt, (i) Teva shall be prohibited from asserting any of the Teva Released Claims as Claims under
Section 12.2(a)(iii) of the MPA, (ii) Allergan shall be prohibited from asserting any of the Allergan Released Claims as Claims under Section 12.3(a)(iii) or Section 12.3(a)(iv) of the MPA and (iii) the rights and
obligations of the Parties under Section 9.1 of the MPA shall remain in effect. 

  

	 	(d)	The Parties acknowledge that the releases in this Agreement may include a release of claims, counterclaims, demands, damages, debts, liabilities, attorneys’ fees, actions, causes of action, obligations and demands
whatsoever, whether fixed or contingent, at law or in equity that are unknown or unsuspected. The Parties hereby waive any common law or statutory doctrine or provision that limits the effect of a release of unknown or unsuspected claims,
counterclaims, demands, damages, debts, liabilities, attorneys’ fees, actions, causes of action, obligations and demands whatsoever, whether fixed or contingent, at law or in equity. The releases in this Agreement are to be interpreted as
broadly as the law allows. 

  

	 	(e)	Teva represents and warrants to Allergan that no Buyer Indemnified Party has received any Third Party Claim against a Buyer Indemnified Party other than (i) the Teva Indemnification Claims and (ii) any Third
Party Claims based upon any branded or generic opioid drugs. 

  

	 	(f)	Allergan represents and warrants to Teva that no Seller Indemnified Party has received any Third Party Claim against a Seller Indemnified Party other than (i) the Allergan Indemnification Claims and (ii) the
Third Party Claims listed on Exhibit A or Exhibit B hereto and any Third Party Claims based upon any branded or generic opioid drugs. 

  

	6.	Covenant Not to Sue and Agreement to Indemnify. 

  

	 	(a)	 Teva agrees, on behalf of itself and each of its current and former directors, officers, employees,
representatives, agents, controlling entities or persons, predecessors or successors-in-interest and assigns, (i) that it will neither initiate

  
 5 

	 	
nor continue any claims, suits, actions, arbitrations or proceedings that seek any relief based upon the Teva Released Claims or the Teva Agreed Liabilities and (ii) that it will not assign
or otherwise transfer the Teva Released Claims to any party. Teva further agrees that it will indemnify Allergan for any and all costs, charges or expenses, including but not limited to reasonable attorneys’ fees, incurred in connection with
any breach of this Section 6(a). 

  

	 	(b)	Allergan agrees, on behalf of itself and each of its current and former directors, officers, employees, representatives, agents, controlling entities or persons, predecessors or successors-in-interest and assigns, (i) that it will neither initiate nor continue any claims, suits, actions, arbitrations or proceedings that seek any relief based upon the Allergan Released Claims and
(ii) that it will not assign or otherwise transfer the Allergan Released Claims to any party. Allergan further agrees that it will indemnify Teva for any and all costs, charges or expenses, including but not limited to reasonable
attorneys’ fees, incurred in connection with any breach of this Section 6(b). 

  

	7.	Representations and Warranties of the Parties. The Parties represent and warrant to one another that: 

  

	 	(a)	Such Party has the legal right, capacity and authority to enter into this Agreement; 

  

	 	(b)	Such Party has taken all necessary corporate and legal actions, as applicable, to duly approve the making and performance of this Agreement; 

 

	 	(c)	This Agreement has been validly executed and delivered by such Party and constitutes its valid and binding obligation, enforceable against the Party in accordance with the terms hereof; 

 

	 	(d)	Neither the execution nor performance of this Agreement by such Party constitutes or will constitute a violation or breach of such Party’s charter or bylaws (or comparable documents, as applicable);

  

	 	(e)	Neither the execution nor the performance of this Agreement will constitute a violation or breach of any law, order, injunction, judgment, statute or regulation applicable to such Party or constitutes or will constitute
a material default (or would, with the passage of time or the giving of notice, or both, constitute such a default) under any material contract, agreement or other instrument to which such Party is a party or by which it is bound; 

 

	 	(f)	Such Party has not relied upon any document, statement, representation, promise, inducement, understanding or information made or provided by any other Party or its representatives except as expressly set forth in this
Agreement, and such Party has relied solely upon its own due diligence and independent judgment concerning this Agreement and the Party’s decision to enter into this Agreement; 

 

	 	(g)	 Such Party has read this Agreement and fully understands all of its terms, covenants, conditions, provisions and
obligations and such Party believes that this 

  
 6 

	 	
Agreement is a fair, just and reasonable resolution of the Working Capital Dispute, the Teva Indemnification Claims and the Allergan Indemnification Claims; 

 

	 	(h)	Such Party specifically acknowledges that this Agreement shall not be subject to any claim of mistake of fact, that it expresses a full and complete settlement between the Parties, and that regardless of the adequacy or
inadequacy of the consideration described herein, this Agreement is intended to be a final and complete settlement of claims and obligations between the Parties described herein as covered by this Agreement; and 

 

	 	(i)	Such Party has not assigned or transferred any Claim or interest in any claim that is the subject of the releases in this Agreement. 

 

	8.	Multiple Counterparts. This Agreement: (i) may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument
and shall be binding upon the person or entity executing the same; and (ii) may be executed by a signature page delivered by facsimile or email, in which case the person or entity so executing this Agreement shall promptly thereafter deliver
its originally executed signature page (but the failure to deliver an original shall not affect the binding nature of such person’s or entity’s signature). 

 

	9.	Governing Law. This Agreement shall be governed by the laws of the State of New York without regard to its conflict of laws provisions. 

 

	10.	 Dispute Resolution. Any dispute, controversy or claim relating to the interpretation or
construction of Sections 4 or 5 of this Agreement, or to the determination of whether a claim for indemnification made by a Party under Sections 12.2 or 12.3 of the MPA is, in fact, subject to indemnification under the MPA, shall be finally resolved
by arbitration in accordance with the International Institute for Conflict Prevention and Resolution (“CPR”) Rules for Non-Administered Arbitration (“Rules”) as in effect on the date of the
Agreement, or such other rules and procedures as the Parties may agree. The arbitration will be conducted before a panel of three arbitrators, to be selected in accordance with the screened selection process provided in the Rules. The place of
arbitration shall be New York, New York. The language of the arbitration shall be English. Except as otherwise agreed by the Parties, the arbitrators shall issue an award within ninety (90) days of the filing of the notice of intention to
arbitrate, and the arbitrators shall agree to comply with this schedule before accepting appointment. Any claims for indemnification sought by Allergan involving allegations against the Transferred Group that relate to Claims based upon
(i) contracts for services related to generic drugs that are Products or (ii) alleged or actual violations of competition or antitrust Laws in the generic drug market involving Products (other than any such violation of competition or
antitrust Laws relating to any litigation settlement agreement between Allergan and Teva (or between their respective Affiliates)), shall be subject to a rebuttable presumption by the arbitrators that such claims are subject to indemnification by
Teva under the MPA. Any claims for indemnification sought by Teva involving allegations against the Transferred Group that relate to Claims based upon (i) contracts for services related to branded drugs of the Retained Business that are not
Products or (ii) alleged or 

  
 7 

	 	
actual violations of competition or antitrust Laws in the branded drug market involving products of the Retained Business that are not Products (other than any such violation of competition or
antitrust Laws relating to any litigation settlement agreement between Allergan and Teva (or between their respective Affiliates)), shall be subject to a rebuttable presumption by the arbitrators that such claims are subject to indemnification by
Allergan under the MPA. In the event the arbitrators determine that the rebuttable presumption is inapplicable, the arbitrators will then proceed to determine whether the claim for indemnification is subject to indemnification under the MPA. Any
award issued by the arbitrators shall be final, binding and conclusive on the Parties hereto and shall constitute an arbitral award upon which a judgment may be entered in any court having jurisdiction thereof. The prevailing party in any
arbitration conducted under this provision will be entitled to an award of all fees, costs and expenses of the arbitrators and the arbitration (including, for the avoidance of doubt, reasonable attorneys’ fees). 

 

	11.	No Effect on Manufacturing Agreements. Nothing in this Agreement shall modify or in any way affect the parties’ rights and obligations under any manufacturing or supply agreements between Allergan and
Teva (or between their respective Affiliates). 

  

	12.	Kadian Agreement. Teva shall, and shall cause its Controlled Affiliates to, (i) cooperate with Allergan to assign the Asset Purchase Agreement, dated December 17, 2008, by and
between Actavis Elizabeth, LLC and King Pharmaceuticals, Inc. (the “Kadian Agreement”) to Allergan or its Affiliate, such assignment to be effectuated by an agreement mutually satisfactory to Teva and Allergan, and (ii) prior to the
assignment of the Kadian Agreement to Allergan or its Affiliate, cooperate with Allergan to provide Allergan with the benefits of the Kadian Agreement, including cooperation in asserting any indemnification rights of Actavis Elizabeth, LLC (or its
successors and assigns) under the Kadian Agreement. Following the assignment of the Kadian Agreement to Allergan or its Affiliate, Allergan shall, and shall cause its Controlled Affiliates to, cooperate with Teva to provide Teva with the benefits of
the Kadian Agreement that relate to the authorized generic of Kadian®, including cooperation in asserting any indemnification rights of Teva or its Controlled Affiliates under the Kadian
Agreement with respect to any Liabilities or Losses to the extent such Liabilities or Losses are based upon or related to the authorized generic of Kadian®. 

 

	13.	No Modification. This Agreement may only be modified or amended by a writing dated after the date hereof and signed by each of the Parties. 

 

	14.	Construction.  

  

	 	(a)	This Agreement shall be construed so that the word “including” means “including without limitation;” and the singular shall include the plural and vice versa. 

 

	 	(b)	For the avoidance of doubt, “Products” as used in this Agreement shall exclude any products that are Excluded Assets. 

  

	 	(c)	Titles or headings contained in this Agreement are included only for ease of reference and will have no substantive effect. 

  

	 	(d)	None of the Parties will be entitled to have any language contained in this Agreement construed against another because of the identity of the drafter. 

  
 8 

	15.	Confidentiality. Neither of the Parties hereto shall issue, make or cause to be made any disclosures regarding the terms of this Agreement without the written consent of the other Party, except that the
Parties (i) may disclose the terms of this Agreement to attorneys, accountants and other advisors retained by the Party; (ii) may make such disclosures as may be required by applicable laws or regulations, provided that the disclosing
Party notifies the other Party in writing of any such requirement and the intended disclosure at least two (2) Business Days in advance of any such disclosure; and (iii) may disclose that they entered into a “Settlement
Agreement” without disclosing its terms. Either of the Parties may disclose the terms and conditions of this Agreement if such Party receives a subpoena or other process or order to produce this Agreement, provided that such Party shall, prior
to any disclosure to any third party, promptly notify the other Parties to this Agreement so that each Party has a reasonable opportunity to respond to such subpoena, process or order. The Party receiving a subpoena, process or order shall (in the
first instance) take no action contrary to the confidentiality provisions set forth above, and shall make reasonable efforts to respond only subject to the confidentiality designation available under a protective order in litigation. The Party
objecting shall have the burden of defending against such subpoena, process or order. The Party receiving the subpoena, process or order shall be entitled to comply with it, except to the extent that any other Party is successful in obtaining an
order modifying or quashing it. 

  

	16.	Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the Parties with regard to the subject hereof and supersedes any prior negotiations, representations or
agreements, written or oral, with respect to such subject matter; provided, however, that nothing herein shall amend, modify, or supersede the Tax Settlement and Resolution Agreement dated October 15, 2017, which the Parties intend to
remain in full force and effect. 

  

	17.	Severability. If any term or provision of this Agreement is held to be invalid, illegal or contrary to public policy, such term or provision shall be modified to the extent necessary to be valid and
enforceable and shall be enforced as modified; provided, however, that if no modification is possible such provision shall be deemed stricken from this Agreement. In any case, the remaining provisions of this Agreement shall not be affected
thereby. 

  

	18.	No Waiver. Any waiver of any Party’s rights under this Agreement is only effective if in writing signed by the Party to be charged or its duly authorized representative, and any such waiver shall only
be effective for the specific matter waived and shall not be deemed to apply to any other conduct, provision or other matter. 

  

	19.	No Assignment. The Parties agree that they have not, and will not, sell, transfer or assign, or purport to sell, transfer or assign, any Claim or interest in any claim that is the subject of the releases
in this Agreement. 

  

	20.	Allocation of Global Purchase Price. Within thirty (30) days following the Effective Date, Allergan shall deliver to Teva the final allocation of the Global Purchase Price (which, for the avoidance of
doubt, shall be reduced by the entire amount of the Settlement Payment) among the Acquired Assets (the “Final PPA”). Teva agrees to treat the Final PPA as the Global Purchase Price Allocation in accordance with the MPA. 

  
 9 

	21.	Notices. All notices and other communications hereunder shall be in writing, shall be sent by Federal Express or other expedited courier service, and shall be deemed effective and duly given upon delivery
to the other Party at the following addresses or to such other addresses as the Parties may notify one another of in accordance with the provision of this Section: 

If to Teva: 
 Teva
Pharmaceutical Industries Ltd. 
 5 Basel Street 

Petach Tikva 4951033 

Israel 

Attention: Chief Legal Officer 

Facsimile: +11 972 3 926-7896 

With a copy (which does not constitute notice) to: 

Vinson & Elkins LLP 

666 Fifth Avenue 

New York, NY 10103 

Attention: Ari Berman 

Facsimile: +1 (917) 849-5368 

If to Allergan: 

Allergan PLC 

Clonshaugh Business and Technology Park 

Coolock 

Dublin, D17 E400 

Ireland 

Attention: Chief Legal Officer and Secretary 

Facsimile: +1 (862) 261-8223 

With copies to (which shall not constitute notice): 

Allergan plc 

5 Giralda Farms 

Madison, New Jersey 07940 

Attention: Chief Legal Officer and Secretary 

Facsimile: +1 (862) 261-8223 

and: 

Latham & Watkins LLP 

885 Third Avenue 

New York, NY 10022-4834 

Attention: Charles K. Ruck 

                R. Scott Shean 

Facsimile: +1 (212) 751-4864 

  
 10 

	22.	Independent Legal Advice. This Agreement was negotiated between the Parties at arm’s length. Teva and Allergan acknowledge that they have been advised by their own independently selected counsel and
other advisors in connection with this Agreement. Teva and Allergan further acknowledge that they enter into this Agreement solely on the basis of advice from independently selected counsel and on the basis of their own independent investigation of
all of the facts, laws and circumstances material to this Agreement or any provision hereof, and not in any manner or to any degree based upon any statement or omission by any other party hereto or its counsel. As such, Teva and Allergan agree that
they shall have no basis to challenge, set aside or void this Agreement on grounds of fraud, fraudulent inducement or related legal theories. 

[SIGNATURE PAGES FOLLOW] 

  
 11 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed in their
respective names by their duly authorized representatives as of the date and year written below. 
  

					
	TEVA PHARMACEUTICAL INDUSTRIES, LTD.	 		 	ALLERGAN PLC
			
	 /s/ Michael McClellan
	 		 	 /s/ A. Robert D. Bailey

	Name: Michael McClellan	 		 	Name: A. Robert D. Bailey
			
	Date: January 31, 2018	 		 	Date: January 31, 2018

  

	
	 TEVA PHARMACEUTICAL INDUSTRIES, LTD.

	
	 /s/ Doron Herman

	 Name: Doron Herman

	
	 Date: January 31, 2018Exhibit 10.1

 

SETTLEMENT
AGREEMENT AND MUTUAL RELEASE

 

TIDS
SETTLEMENT AGREEMENT AND MUTUAL RELEASE (the "Agreement"), is made and entered into as of this 29th day
of January 2018, by and between Caro Partners LLC., a Florida corporation, with offices at I005 Indiantown Road, Suite 202,
Jupiter, Florida 33458 ("Caro" or the "Consultant"), and Drone USA Inc., with offices at 16
Hamilton Street, West Harford Connecticut 06516 the "Company") (together the "Parties").

WHEREAS,
Consultant is in the business of providing services for management consulting, business advisory, shareholder information
and public relations; and has done so for a period of one year from the dated original signed agreement dated 12/16/2016. Under
the terms of the agreement, the consultant was due restricted shares of stock and a monthly fee that was not paid for the full
year of services.

WHEREAS,
the Parties to this Agreement, in order to avoid the further expense, delay, and the uncertainties of litigation, desire to buy
peace and settle all claims that the Parties have or may have, one against the other, including, but not limited to, those that
were raised or could have been raised by any Party to this Agreement.·

NOW,
THEREFORE, in consideration of the promises and covenants contained in this Agreement, the sufficiency of which is hereby acknowledged,
the Parties agree as follows:

Payment.
Drone USA will pay $30,000.00 to Caro Partners LLC by February 2nd, 2018 with
an additional payment of $3,000 a month due by the 29st
of every month for ten months as scheduled below. The last tranche of 400,000 shares issued to Caro Partners goes
back to Drone USA

 

	 	February 29, 2018	 	 	$	3000.00	 	 	 	July 29, 2018	 	 	$	3000.00	 
	 	March 29th 2018	 	 	$	3000.00	 	 	 	August 29, 2018	 	 	$	3000.00	 
	 	April 29th 2018
 
	 	 	$	3000.00	 	 	 	September 29, 2018	 	 	$	3000.00	 
	 	May 29th 2018
 
	 	 	$	3000.00	 	 	 	October 29, 2018	 	 	$	3000.00	 
	 	June 29th, 2018	 	 	$	3000.00	 	 	 	November 29, 2018	 	 	$	3000.00	 

 

1.                  
Caro Release. For such other valuable consideration, the sufficiency of which is hereby acknowledged and
confessed, Caro hereby releases and forever discharges DRUS including all related corporations and legal entities, affiliates
and all of DRUS's respective agents, servants, employees, officers, directors, shareholders, partners, insurers, attorneys, from
any and all claims, actions, demands, rights, damages, costs, loss of profits, expenses, compensation, complaints, allegations,
or causes of action of any kind whatsoever, at law or in equity, by statute or otherwise, which Caro now has or may have, known
or unknown, now existing, directly or indirectly, that Caro may have against those persons and entities.

 

2.                 
DRUS Release. For such other valuable consideration, the sufficiency of which is hereby acknowledged and
confessed, DRUS hereby releases and forever discharges Caro, including all of Caro's respective agents, servants, employees, partners,
insurers, attorneys, from any and all claims, actions, demands, rights, damages, costs, loss of profits, expenses, compensation,
complaints, allegations, or causes of action of any kind whatsoever, at law or in equity, by statute or otherwise, which DRUS
now has or may have, known or unknown, now existing, directly or indirectly, that DRUS may have against those persons and entities.

 

    	SETTLEMENT
                                         AGREEMENT AND MUTUAL RELEASE - Page 1

     

    

3.                   Confidentiality. The Parties agree that the terms of this Agreement will remain completely confidential.
The Parties agrees that they will not disclose to any person or entity" except a spouse, legal counsel, tax advisors, or
as required by law, the terms of this Agreement The parties may, however, state that they have settled their dispute without disclosing
the terms of this agreement.

4.                  
Non-Disparagement. The Parties agree that they will not communicate disparagingly about the other Party or
agent of the either Party, but will merely say that "the case is settled."

5.                   Non-Assignment of Claims to Third-Party. By execution of this Agreement, each of the Parties hereby covenants
and warrants that no claim, right or cause of action that they may now have or have had in the past against each other Party and/or
the entities or persons set forth in the preceding release paragraphs, has previously been conveyed, assigned or in any manner
transferred, in whole or in part, to any third-party. The Parties expressly represent, covenant, and warrant that they have full
authority to release any and all claims that they may now have or may have had in the past concerning the Lawsuit, or claims which
may have been brought therein.

6.                   Further Assurances. The Parties hereto agree to execute such other documents and take such other actions
as may be reasonably necessary to further purposes of this Agreement, including dismissal paperwork.

7.                  Governing Law and Venue. This Agreement and any other documents referred to herein shall be governed by,
construed and enforced in accordance with the laws of the State
ofFlorida. Venue shall be Palm Beach County, Florida.

8.                  Benefit
and Burden. This Agreement shall be binding upon and inure to the benefit of, the Parties hereto, and their respective
heirs, executors, administrators, representatives, successors and assigns.

9.                  Entire Agreement. All agreements, covenants, representations and warranties, express or implie oral or written,
of the Parties concerning the subject matter of this Agreement are contained herein. No other agreements, covenants, representation
or warranties, express or implied, oral or written, have been made by any Party to any other Party concerning the subject matter
of this Agreement and no Party is relying upon any representation which is not expressly set forth in this Agreement. All prior
and contemporaneous conversations, negotiations, representations, covenants and warranties concerning the subject matter of this
Agreement are merged herein. This is an integrated Agreement.

10.              
Past Attorneys' Fees and Costs. Each Party shall bear its or her own attorneys' fees and costs incurred through
the execution of this Agreement.

11.              
Agreements and Waivers. This Agreement may not be modified, amended, or terminated except by an instrument
in writing, signed by each of the Parties affected thereby. No delay in exercising any right, remedy, or power under this Agreement
shall operate as a waiver thereof,
nor shall any single or partial exercise of any right, remedy, or power under this Agreement preclude any other further exercise
of any right, remedy, or power provided herein or in law or in equity.

 

    	 SETTLEMENT
                                         AGREEMENT AND MUTUAL RELEASE - Page 2

     

    

  

12.              
Voluntary Agreement. The Parties further represent, warrant and declare
that they have carefully read this Agreement, had the opportunity to consult with independent counsel of their own choice, and
their signatures below indicate that this Agreement was made freely and voluntarily by each of the Parties.

13.             
 Severability. If for any reason any provision of this Agreement is determined
to be invalid or unenforceable, the remaining provisions of this Agreement nevertheless shall be construed, performed, and enforced
as if the invalidated or unenforceable provision has not been included in the Agreement.

14.              
Drafting. Drafting and negotiation of this Agreement have been participated
in by each of the Parties, and for all purposes this Agreement shall be deemed to have been drafted jointly by each of the Parties.

15.              Compromise
of Disputed Matters. All Parties agree that this is a complete compromise of matters involving disputed issues
of law and fact. All Parties assume the risk that facts or law may be other than they believe. It is understood and agreed to
by the Parties that this settlement is a compromise of doubtful and disputed claims, that the consideration and compliance with
this Agreement is not to be construed as an admission of liability on the part of the Parties, and that this Agreement is entered
into to avoid the expense and uncertainty of litigation.

16.              Counterparts.
If this Agreement is executed in counterparts, each of which shall be deemed an original, all counterparts so executed
shall constitute one agreement binding upon all of the Parties hereto, notwithstanding that all of the Parties are not signatory
to the same counterpart. In addition, facsimile signatures will be acceptable and otherwise binding and enforceable on all the
Parties hereto.

17.              Signatures. The Parties hereby acknowledge their agreement to the above-terms
by their signatures below. The Parties represent and warrant that they have the capacity and that they have read this Agreement,
have consulted with counsel, and signed this Agreement on their own behalf. It is expressly understood and agreed that the terms
of this Agreement are contractual and not merely recitations and that the agreements herein contain, in any consideration transferred,
or to compromise claims, avoid litigation, and buy peace. 

 

	 	DRONE USA, INC.
	 	 
	 	By: 	/s/
    Michael Bannon
	 	 	President
    and CEO

  

	 	Caro
Partners, LLC
	 	 
	 	
	 	 

 

 

    	 SETTLEMENT
                                         AGREEMENT AND MUTUAL RELEASE - Page 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]