Document:

exv4w12

Exhibit 4.12

AMENDMENT AGREEMENT dated as of November 4, 2010 (this “Amendment
n°3”), to the USD 200,000,000 Revolving Credit Agreement dated as of
February 7, 2007 as amended prior to the date hereof (as in effect
immediately prior to the Effective Date (as defined below)) (the “Credit
Agreement”) between COMPAGNIE GÉNÉRALE DE GÉOPHYSIQUE-VERITAS, a société
anonyme incorporated under the laws of France whose registered office is
Tour Maine Montparnasse, 33 avenue du Maine, 75015 Paris, France and
registered under number 969 202 241 RCS Paris as Borrower, NATIXIS as
Mandated Lead Arranger and Facility Agent, CREDIT SUISSE AG (formerly
known as Credit Suisse) as Collateral Agent, BNP PARIBAS, CRÉDIT
MUTUEL-CIC, CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK (previously
known as Calyon), KBC and SOCIÉTÉ GÉNÉRALE CORPORATE & INVESTMENT BANK as
Lead Arrangers and NATIXIS, BNP PARIBAS, SOCIÉTÉ GÉNÉRALE, CRÉDIT MUTUEL
 — CIC, CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK and KBC as Lenders
(as defined in the Credit Agreement).

WHEREAS, pursuant to the Credit Agreement, the Lenders have made credit available to the Borrower.

WHEREAS, the Borrower has requested, and all the Lenders have agreed, that the Credit Agreement
should be amended and modified as set forth herein.

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and
valuable consideration, including as set out in Section 4 hereto, the sufficiency and receipt of
which are hereby acknowledged, the parties hereto agree as follows:

SECTION 1. Interpretation and Defined Terms.

Capitalised terms used but not defined herein shall have the meanings assigned to such terms in the
Credit Agreement, unless otherwise provided or the context requires otherwise. Section 1.02 (Terms
Generally) of the Credit Agreement is incorporated in this letter as if fully set out in it and as
if references in that clause to “this Agreement” were references to the Credit Agreement as amended
by this Amendment n°3.

SECTION 2. Amendments of the Credit Agreement.

	(a)	 	As of the Effective Date (as defined below), the Credit Agreement shall be amended as set out
in the Schedule to this Amendment n°3.
	 
	(b)	 	For the avoidance of doubt, (i) all Revolving Credit Commitments in effect under the Credit
Agreement immediately prior to the Effective Date shall continue in effect after the Effective
Date under the Credit Agreement as amended by this Amendment n°3 and (ii) all Loans
outstanding under the Credit Agreement immediately prior to the Effective Date shall continue
to be outstanding under the Credit Agreement as amended by this Amendment n°3, and (iii) from
the Effective Date, the Credit Agreement, as amended by this Amendment n°3, will govern the
rights and obligations of the Borrower, the Lenders, the Mandated Lead Arranger, the Facility
Agent, the Lead Arrangers and the Collateral Agent.

 

 

SECTION 3. Representations and Warranties.

To induce the other parties hereto to enter into this Amendment n°3, the Borrower hereby represents
and warrants to each of the Lenders, the Facility Agent and the Collateral Agent that, at the time
of and after giving effect to this Amendment n°3:

	(a)	 	This Amendment n°3 has been duly authorised, executed and delivered by it and constitutes its
legal, valid and binding obligation, enforceable against it in accordance with its terms,
subject to the Legal Reservations;
	 
	(b)	 	Save as disclosed in filing or submissions made to the Federal Communications Commission, the
United States Securities and Exchange Commission or the Autorité des Marchés Financiers and
publicly available, the representations and warranties set forth in Article III of the Credit
Agreement are true and correct in all material respects at and as of the Effective Date with
the same effect as though made on and as of such date, except to the extent that such
representations and warranties expressly relate to an earlier date, as if references in
Article III of the Credit Agreement to “the Finance Documents” were instead to the Amendment
n°3; and
	 
	(c)	 	No Default or Event of Default has occurred and is continuing.

SECTION 4. Amendment Fee.

The Borrower hereby agrees to pay, for the account of each Lender that executes and delivers a
counterpart of this Amendment n°3, to the Facility Agent at or prior to 7p.m. on November 4th, 2010
(the “Delivery Time”), a fee (the “Amendment Fee”) in an amount equal to 0.75% of the outstanding
Commitments at such time of such Lender. The Amendment Fee shall be payable in immediately
available funds promptly upon, and subject to the occurrence of, the Effective Date, as defined
below.

SECTION 5. Effective Date.

This Amendment n°3 shall become effective as of the time and date (the “Effective Date”) on which
the following conditions are satisfied:

	(a)	 	The Facility Agent shall have received execution copies of this Amendment n°3 that, bear the
signatures of the Borrower, the Lenders, the Mandated Lead Arranger, the Facility Agent, the
Lead Arrangers and the Collateral Agent;
	 
	(b)	 	The Facility Agent shall have received, on behalf of itself and each of the Lenders,
favorable legal opinions from (i) Linklaters Paris, counsel to the Borrower, under the laws of
France as to capacity and authority of the Borrower and due execution by the Borrower of the
Amendment n°3 dated the Effective Date, and in form and substance satisfactory to the Facility
Agent, in its reasonable opinion, and the Borrower hereby agrees to request such counsel to
deliver such opinion and (ii) Bredin Prat, counsel to the Lenders, under the laws of France as
to the validity and enforceability of the Amendment n°3 dated the Effective Date, and in form
and substance satisfactory to the Facility Agent, in its reasonable opinion;
	 
	(c)	 	the Facility Agent shall have received (i) a copy of the articles of association (statuts) of
the Borrower and certified by one of its Responsible Officer, and a original copy of an
Extrait kbis of the Borrower dated no more than 15 days old; (ii) a certificate of a
Responsible Officer of the Borrower dated the Effective Date and certifying (A) that attached
thereto is a true and complete copy of the articles of association (statuts) of the Borrower,
as in effect on the Effective Date, (B) that attached thereto is a true and complete copy of
extract of resolutions duly adopted by the Board of Directors of the Borrower, authorizing the
execution, delivery and performance of this Amendment n°3

 

 

	 	 	and that such resolutions have not been modified, rescinded or amended and are in full force
and effect, and (C) specimen signature of each Responsible Officer or other authorized agent
and attorney-in-fact executing any Finance Document or any other document delivered in
connection herewith on behalf of the Borrower where not already held by the Agent; and (iii)
such other documents as the Lenders or the Facility Agent may reasonably request;
	 
	(d)	 	the Facility Agent shall have received an original copy of a TEG letter signed by it and the
Borrower; and
	 
	(e)	 	the Facility Agent shall have received evidence of the payment of all fees and other amounts
due and payable under Section 4 (Amendment Fee) and Section 9 (Costs and Expenses) on or prior
to the Effective Date.

The Facility Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice
shall be conclusive and binding.

	SECTION 6. Additional Agreements.

Within 60 days following the Effective Date, the Borrower shall deliver to the Collateral Agent:

	(a)	 	a deed of confirmation of security in relation to the Memorandum of Deposit (Shares) dated
February 11, 2009 between CGGVeritas Services Holding B.V. . and the Collateral Agent (the
“Australian Security Document”) confirming that the security represented by the Australian
Security Document continues in full force and effect notwithstanding the amendments to the
Credit Agreement made pursuant to this Amendment n°3; and
	 
	(b)	 	a deed of confirmation of security issued by CGGVeritas Services Holding BV and the Borrower
in relation to the Share Pledge Agreement dated February 7, 2007 between the Borrower and
Credit Suisse in respect of shares in Exploration Resources AS (now known as CGGVeritas
Services Norway AS) and the Share Pledge Agreement entered into between CGG Services Holding
BV and Credit Suisse dated September 18, 2009 in respect of shares in CGGVeritas Services
Norway AS, in each case confirming that the security represented by such agreements continues
in full force and effect notwithstanding the amendments to the Credit Agreement made pursuant
to this Amendment n°3.

SECTION 7. Reaffirmation.

The Borrower hereby (a) agrees that, notwithstanding the effectiveness of this Amendment n°3 or the
Credit Agreement as amended by this Amendment n°3, the Security Documents continue to be in full
force and effect and (b) affirms and confirms its guarantee of the Obligations and the pledge of
and/or grant of a security interest in its assets as Collateral pursuant to the Security Documents
to secure such Obligations, all as provided in the Security Agreements as originally executed, and
acknowledges and agrees that such guarantee, pledge and grant continue in full force and effect in
respect of, and to secure, such Obligations under the Credit Agreement as amended by this Amendment
n°3.

SECTION 8. No Novation.

Neither this Amendment n°3 nor the effectiveness of the Credit Agreement, as amended by this
Amendment n°3, shall extinguish the Obligations for the payment of money

 

 

outstanding under the Credit Agreement or discharge or release the lien or priority of any Finance
Document or any other security thereof or any guarantee thereof, and the liens and security
interests existing immediately prior to the Effective Date in favour of the Collateral Agent for
the benefit of the Secured Parties securing payment of the Obligations are in all respects
continuing and in full force and effect with respect to all Obligations. Nothing herein contained
shall be construed as a substitution or novation, or a payment and reborrowing, or a termination,
of the Obligations outstanding under the Credit Agreement or instruments guaranteeing or securing
the same, which shall remain in full force and effect, except as expressly modified hereby or by
instruments executed concurrently herewith. Nothing expressed or implied in this Amendment n°3, the
Credit Agreement as amended by this Amendment n°3 or any other document contemplated hereby or
thereby shall be construed as a release or other discharge of the Borrower under the Credit
Agreement or under any Finance Document from any of its obligations and liabilities thereunder, and
such obligations are in all respects continuing with only the terms being modified as provided in
this Amendment n°3 and in the Credit Agreement as amended by this Amendment n°3. The Credit
Agreement and each of the other Finance Documents shall remain in full force and effect, until and
except as modified hereby.

SECTION 9. Costs and Expenses.

The Borrower undertakes that, within 5 Business Days of demand, it will pay or procure payment of
all costs, expenses (including legal fees) and any other amounts reasonably incurred by any Finance
Party in connection with the preparation, negotiation and execution of this Amendment n°3 and any
related documentation.

SECTION 10. Miscellaneous.

	(a)	 	This Amendment n°3 is a Finance Document for the purposes of the Credit Agreement.
	 
	(b)	 	Save as expressly set out herein, this Amendment n°3 will not (and will not be deemed to) be
a consent, agreement or waiver in respect of any provision, term or condition of the Finance
Documents. The terms of the Finance Documents are confirmed by the parties to this letter and,
save as expressly modified by this Amendment n°3, shall remain in full force and effect.
	 
	(c)	 	The terms of this Amendment n°3 are strictly without prejudice to the rights, powers and
discretions of the Finance Parties under the Finance Documents.
	 
	(d)	 	The provisions of Section 9.01 (Notices) shall be incorporated into this Amendment n°3 as if
set full in this Amendment n°3 and as if references in those clauses to “this Agreement” are
references to this Amendment n°3.

SECTION 11. Applicable Law.

This Amendment n°3 is governed by French law. The Tribunal de Commerce de Paris has exclusive
jurisdiction to settle any dispute arising out of or in connection with this Amendment n°3
(including a dispute regarding the existence, validity or termination of this Amendment n°3) (a
“Dispute”). This Section is for the benefit of the Finance Parties only. As a result, no Finance
Party shall be prevented from taking proceedings relating to a Dispute in any other courts with
jurisdiction. To the extent allowed by law, the Finance

 

 

Parties may take concurrent proceedings in any number of jurisdictions.

SECTION 12. Headings.

The headings of this Amendment n°3 are for purposes of reference only and shall not limit or
otherwise affect the meaning hereof.

[Remainder of this page intentionally left blank]

 

 

     This Amendment n°3 has been entered into on the date stated at the beginning of this Amendment
n°3.

Compagnie Générale de Géophysique — Véritas, as Borrower

	 	 	 	 	 

	By:

	 	/s/ stephane-paul frydman
 

	 	 
	Name:

	 	Stephane-Paul Frydman	 	 
	Title:

	 	Group Chief Financial Officer	 	 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Commit-	 	 	 	Commit-
	 	 	ment	 	 	 	ment
	LENDERS	 	(%)	 	LENDERS	 	(%)
	Natixis

	 	 	22,5	 	 	BNP Paribas
	 	 	22,5	 

	 	 	 	 	 	 	 	 	 

	By:

	 	/s/ Brigitte POGGI
 

	 	By:
	 	/s/ Brigitte POGGI
 

	 	 
	Name:

	 	Brigitte Poggi
	 	Name:
	 	Brigitte Poggi	 	 
	Title:

	 	Director
	 	Title:
	 	 Director	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ arnaud stevens
	 	By:
	 	/s/ arnaud stevens	 	 
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	Arnaud Stevens
	 	Name:
	 	Arnaud Stevens	 	 
	Title:

	 	Managing Director
	 	Title:
	 	 Managing Director	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 

	Société Générale
	 	 	22,5	 	 	 	Crédit Mutuel-CIC (acting through Crédit Industriel et Commercial)	 	 	12,5	 

	 	 	 	 	 	 	 	 	 

	By:

	 	/s/ Brigitte POGGI
 

	 	By:
	 	/s/ Brigitte POGGI
 

	 	 
	Name:

	 	Brigitte Poggi
	 	Name:
	 	Brigitte Poggi	 	 
	Title:

	 	Director
	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ arnaud stevens
	 	By:
	 	/s/ arnaud stevens	 	 
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	Arnaud Stevens
	 	Name:
	 	Arnaud Stevens	 	 
	Title:

	 	Managing Director:
	 	Title:
	 	Managing Director:	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Commit-	 	 	 	Commit-
	 	 	ment	 	 	 	ment
	LENDERS	 	(%)	 	LENDERS	 	(%)
	Calyon

	 	 	10	 	 	KBC
	 	 	10	 

	 	 	 	 	 	 	 	 	 

	By:

	 	/s/ Brigitte POGGI
 

	 	By:
	 	/s/ Brigitte POGGI
 

	 	 
	Name:

	 	Brigitte Poggi
	 	Name:
	 	Brigitte Poggi	 	 
	Title:

	 	Director
	 	Title:
	 	 Director	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ arnaud stevens
	 	By:
	 	/s/ arnaud stevens	 	 
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	Arnaud Stevens
	 	Name:
	 	Arnaud Stevens	 	 
	Title:

	 	Managing Director
	 	Title:
	 	 Managing Director	 	 

 

 

APPENDIX A

1. Revolving Credit Maturity Date Extension

The definition of “Revolving Credit Maturity Date” in Article I (Definitions) — Section 1.01
(Defined Terms) shall be deleted in its entirety, and be replaced as follows:

““Revolving Credit Maturity Date” shall mean February 7, 2014””

2. Applicable Percentage and Commitment

(a) Applicable Percentage:

The definition of “Applicable Percentage” set forth in Section 1.01 of the Credit Agreement is
hereby amended by the addition of the following table applicable to any Interest Periods
commencing on or after the Supplemental Agreement Date only:

	 	 	 	 	 
	 	 	 Margin applicable to any Interest
	 	 	Periods commencing on or after the
	Corporate Ratings of the Borrower
	 	Supplemental Agreement Date
	Category 3
	 	 	2.75	%
	 
	 	 	 	 
	BB+ or better by S&P and Ba1 or better by
Moody’s
	 	 	 	 
	 
	 	 	 	 
	Category 2
	 	 	 	 
	BB by S&P and Ba2 by Moody’s, or
	 	 	3.00	%
	 
	 	 	 	 
	BB+ or better by S&P and Ba2 by Moody’s;

BB by S&P and Ba1 or better by Moody’s
	 	 	 	 
	 
	 	 	 	 
	Category 1
	 	 	3.25	%
	Other ratings
	 	 	 	 

(b) Commitment Fee:

The definition of “Commitment Fee” in Section 1.01 of Article I of the Credit Agreement shall
be deleted in its entirety and replaced as follows:

““Commitment Fee” shall mean 40% (forty per cent) of the applicable Margin.”

(c) Additional Definitions

Additional definitions shall be inserted into Section 1.01 of Article I of the Credit

 

 

Agreement, as follows:

““Amendment n°3” shall mean the agreement dated [ ] November 2010 between, inter alia, the
Borrower and the Lenders, amending this Agreement.”

““Supplemental Agreement Date” shall mean Effective Date as defined in the Amendment n°3 and as
notified by the Facility Agent to the Borrower and the Lenders in accordance with the Amendment
n°3.”

3. Section 6.02 Financial Covenants

Section 6.02 (“Financial Covenants”) of Article VI (“Negative Covenants”) of the Credit Agreement
shall be deleted in its entirety and replaced with the following:

“Section 6.02 Financial Covenants

The Borrower shall ensure that the financial condition of the Group shall be such that:

	 	(a)	 	The ratio of (i) EBITDA to (ii) Total Interest Costs for each Relevant Period
specified in Column 1 below shall not be less than the ratio set out in Column 2 below
opposite such Relevant Period.

	 	 	 
	Column 1	 	Column 2
	Any Relevant Period expiring in the	 	 
	rolling 12 month period ending	 	Ratio
	September 30, 2010
	 	3.50: 1.00
	December 31, 2010
	 	3.50: 1.00
	March 31, 2011
	 	3.50: 1.00
	June 30, 2011
	 	3.50: 1.00
	September 30, 2011
	 	3.50: 1.00
	December 31, 2011
	 	3.50: 1.00
	March 31, 2012
	 	3.50: 1.00
	June 30, 2012
	 	3.50: 1.00
	September 30, 2012
	 	3.50: 1.00
	December 31, 2012
	 	3.50: 1.00
	March 31, 2013
	 	4.00: 1.00
	June 30, 2013
	 	4.00: 1.00
	September 30, 2013
	 	4.00: 1.00
	December 31, 2013
	 	4.00: 1.00

 

 

	 	(b)	 	The Total Leverage Ratio in respect of each Relevant Period specified in
Column 1 below shall not be greater than the ratio set out in Column 2 below opposite
such Relevant Period.

	 	 	 
	Column 1	 	Column 2
	Any Relevant Period expiring in the	 	 
	rolling 12 month period ending	 	Ratio
	September 30, 2010

	 	2.75: 1.00
	December 31, 2010

	 	2.75: 1.00
	March 31, 2011

	 	2.75: 1.00
	June 30, 2011

	 	2.75: 1.00
	September 30, 2011

	 	2.75: 1.00
	December 31, 2011

	 	2.75: 1.00
	March 31, 2012

	 	2.50: 1.00
	June 30, 2012

	 	2.50: 1.00
	September 30, 2012

	 	2.50: 1.00
	December 31, 2012

	 	2.50: 1.00
	March 31, 2013

	 	2.25: 1.00
	June 30, 2013

	 	2.25: 1.00
	September 30, 2013

	 	2.25: 1.00
	December 31, 2013

	 	2.25: 1.00

	 	(c)	 	The aggregate amount of Capital Expenditures made by the Group in any fiscal year
should not exceed the greater of USD 750,000,000 and 50% of EBITDA for such fiscal year.
“exv10w1

Exhibit 10.1

Severance Plan for EVP, Global Commercial Operations

As Executive Vice President, Global Commercial Operations, you are entitled to severance
benefits in the event your employment is terminated by Biogen Idec other than For Cause or for
reason of death or Disability (as these terms are defined in the Biogen Idec 2008 Omnibus Equity
Plan).

Basic Benefits

Your severance benefits are comprised of (i) a lump sum payment (as calculated below), (ii) upon
completion of the appropriate forms, continuation of your participation in Biogen Idec’s group
medical and dental insurance plans, to the same extent permitted by COBRA and to the same extent
such insurance is then provided to regular employees of Biogen Idec, including payment by you of a
portion of the insurance premiums (i.e., the “Insurance Benefit”) and (iii) the reasonable cost of
up to nine months of executive-level outplacement services from a recognized provider of such
services, at the expense of Biogen Idec (upon receipt of appropriate documentation).

The lump sum severance payment is calculated as follows:

[9 + (A x 2.5)] x B = lump sum payment

	 	where: 	 	 A is the number of full years of service with Biogen Idec (but A x 2.5 may not exceed 12), and

B is the monthly equivalent of your target annual cash compensation at the time of your termination
 (i.e., one-twelfth
of the sum of your then annual base salary plus target annual bonus).

The following are examples of how the lump sum payment and Insurance Benefit Period are determined:

	 	 	 	If your employment with Biogen Idec is terminated after 10 months of employment, you will
receive a lump sum payment equal to nine months of your target annual cash compensation and
continue to participate in Biogen Idec’s group medical and dental plans for nine months, unless
you become eligible to participate in another employer’s medical and dental plans before that
date. COBRA continuation of medical and dental benefits is available, at your own expense, for
an additional nine months after this nine-month Insurance Benefit Period.

	 	 	 	If your employment with Biogen Idec is terminated after five years, you will receive a lump sum
payment equal to 21 months [9+12] of your target annual cash compensation and continue to
participate in Biogen Idec’s group medical and dental plans for 21 months, unless you become
eligible to participate in another employer’s medical and dental plans before that date.

Benefits In Connection With a Qualifying Termination During the First 18 Months of
Employment

You are entitled to enhanced severance benefits if the Company breaches its obligations under your
offer letter with respect to your “Role” in the Company. In that event, you will have 6 months
following the end of your first 18 months of employment to notify the Chief Legal Counsel or the
Head of Human Resources of Biogen Idec in writing of your intent to terminate employment on account
of such breach and the Company will have 30 days to cure such breach. In the event that the breach
is not cured, your employment will be deemed terminated at the end of the cure period (i.e., a
“Qualifying Termination”) and, in lieu of the severance benefits otherwise payable under this Plan,
you will receive a lump sum payment equal to 21 months of your target annual cash compensation
(base salary plus target annual bonus) at the time of your termination. In addition, in the event
of a Qualifying Termination you will be entitled to continue participating in Biogen Idec’s group
medical and dental plans for 21 months, unless you become eligible to participate in another
employer’s medical and dental plans before that date.

These enhanced benefits will automatically terminate and be of no further force or effect upon the
earlier of (1) the date on which the Company has complied with its obligations under the offer
letter in respect of your “Role” in the Company or (2) 18 months following the commencement of your
employment.

 

 

Severance Plan for EVP, Global Commercial Operations

Benefits In Connection With Certain Terminations During the First 24 Months of
Employment

If at any time during the first 18 months of your employment, your employment is terminated by
Biogen Idec other than For Cause (as this term is defined in Biogen Idec’s 2008 Omnibus Equity
Plan) or you experience a Good Reason Termination (defined below) and as a result you terminate
your employment with Biogen Idec, then, regardless of the length of your service with Biogen Idec,
and in addition to the severance benefits otherwise payable under this Plan, all unvested equity
awards previously granted to you under the Company’s equity plans will fully vest at the time of
termination and will become payable in accordance with the provisions of the equity plan and award
documents under which the awards were granted. The term “Good Reason Termination” means the
involuntary termination of your employment with the Company, other than For Cause, upon the
occurrence of any of the following circumstances: (1) and adverse and/or material alteration and
diminution of your authority, duties and responsibilities (other than mere change in reporting
relationship), (2) a reduction of your base salary or a reduction in targeted bonus opportunity, or
(3) relocation of the offices at which you are employed which increases your daily commute by more
than 100 miles on a round trip basis; provided, however, that in any case you notify the Chief
Legal Officer or the Head of Human Resources of the Company in writing of the basis for your Good
Reason Termination within six months of the circumstances giving rise to your Good Reason
Termination and Biogen Idec does not cure such circumstances within 30 days after the date of your
written notice.

If at any time during the first 24 months of your employment, your employment is terminated by
Biogen Idec other than For Cause (as this term is defined in Biogen Idec’s 2008 Omnibus Equity
Plan) or you experience a Good Reason Termination (defined above) and as a result you terminate
your employment with Biogen Idec, then, regardless of the length of your service with Biogen Idec,
in lieu of the basic severance benefits or enhanced severance benefits otherwise payable under this
Plan, you will receive a lump sum payment equal to 21 months of your target annual cash
compensation (base salary plus target annual bonus) at the time of your termination. In addition,
you will be entitled to continue participating in Biogen Idec’s group medical and dental plans for
21 months, unless you become eligible to participate in another employer’s medical and dental plans
before that date.

The provisions of the prior two paragraphs will automatically terminate and be of no further force
or effect upon the earlier of (1) the date on which you are elected as an Executive Officer of the
Company or (2) 24 months following the commencement of your employment. Thereafter, your severance
benefits will be governed solely by the attached Severance Plan for U.S. Executive Vice
Presidents.

Benefits Upon an Involuntary Employment Action Following a Corporate Transaction or Corporate
Change in Control

If at any time within two years following a Corporate Transaction or Corporate Change in Control
(as these terms are defined in Biogen Idec’s 2008 Omnibus Equity Plan) your employment is
terminated by Biogen Idec or the succeeding corporate entity, other than For Cause or for reason of
death or Disability (as these terms are defined in Biogen Idec’s 2008 Omnibus Equity Plan), or you
experience an Involuntary Employment Action (defined below) and as a result you terminate your
employment with Biogen Idec or the succeeding corporate entity, then, regardless of the length of
your service with Biogen Idec and the succeeding corporate entity, and in lieu of the formula set
forth above, you will receive a lump sum payment equivalent to 24 months of your target annual cash
compensation at the time of your termination or at the time of a Corporate Transaction or Corporate
Change in Control, whichever is higher. In addition, you will be entitled to continue
participating in Biogen Idec’s group medical and dental plans for 24 months, unless you become
eligible to participate in another employer’s medical and dental plans before that date. The term
“Involuntary Employment Action” shall have the definition set forth in Biogen Idec’s 2008 Omnibus
Equity Plan, provided, however, that the term “Corporate Transaction” used in that definition shall
be deemed to mean either a Corporate Transaction or Change in Control, as the case may be, and
provided also that prior to your termination of employment you have notified the Chief Legal
Counsel or the Head of Human Resources of Biogen Idec in writing of the basis for your Involuntary
Employment Action, you have given such notice within one year of the circumstances giving rise to
your Involuntary Employment Action and Biogen Idec does not cure such circumstances within 30 days
after the date of your notice.

 

 

Severance Plan for EVP, Global Commercial Operations

Delivery of Benefits

Payment and provision of all the benefits provided under this arrangement are conditioned on your
execution and delivery of all necessary forms and an irrevocable general release in favor of Biogen
Idec, in form and substance reasonably acceptable to Biogen Idec, with respect to any and all
claims relating to your employment and the termination of your employment with Biogen Idec. If you
retire or voluntarily terminate your employment with Biogen Idec, or Biogen Idec terminates your
employment For Cause or for reason of death or Disability (as these terms are defined in Biogen
Idec’s 2008 Omnibus Equity Plan), or you do not provide the requisite general release, you will not
be eligible to receive the severance benefits described above.

If all other conditions of this arrangement are met, a lump sum payment (less applicable taxes and
other mandatory deductions as required by law) will be paid to you following the termination of
your employment, no later than the first to occur of: a) 90 days following your termination of
your employment with Biogen Idec and b) March 15 of the year following the calendar year in which
termination of employment occurs, unless you are a “specified employee” as defined in Section 409A
of the Internal Revenue Code of 1986, as amended (i.e., “Section 409A”). (If all preconditions to
payment, including the delivery of an irrevocable general release, are not satisfied prior to the
earlier of these two dates, payment to you may be delayed and you may incur additional tax
liabilities under Section 409A.) If you are a “specified employee”, to the extent required by
Section 409A, payment will not be made to you before the date which is six months after you
“separate from service” (or, if earlier, your date of death or Disability) unless the payment
qualifies as excepted welfare benefits under Section 409A, does not constitute a “deferral of
compensation” under Section 409A or is otherwise not subject to the requirements of Section 409A.

The Insurance Benefit will continue until the earlier of (i) the date you become eligible to
participate in the medical and dental insurance plan of another employer or (ii) the date that is
[9 + (A x 2.5)] months, but not more than 21 months (or 21 months in the case of a Qualifying
Termination during the first 18 months of employment or 24 months in the case of a Corporate
Transaction or Change in Control), following the termination of your employment with Biogen Idec
(the “Insurance Benefit Period”). You will have the right, at your own expense, to continue your
participation in Biogen Idec’s group medical and dental insurance plans at the expiration of the
Insurance Benefit Period, pursuant to the provisions of COBRA, but only for an 18-month period that
will be deemed to have commenced at the start of your severance.

General

Biogen Idec shall administer and shall have the discretionary authority to adopt rules for the
management and operation of this arrangement, to interpret the provisions of the arrangement and to
construe the terms of the severance arrangement in its sole discretion. The decision of Biogen
Idec, or the duly authorized delegate, is final and conclusive for all purposes.

The severance arrangement may be amended, modified, suspended or terminated by Biogen Idec at any
time; provided that the severance arrangement may not be amended or terminated without your written
consent for a period of two years following a Corporate Transaction or a Change in Control.

This arrangement is unfunded. This arrangement will benefit and bind Biogen Idec and its
successors and permitted assigns and you and your heirs, executors and legal representatives. You
do not have any right to transfer or assign your benefits under this arrangement.

This arrangement shall be construed, administered and enforced according to the laws of the State
of Delaware, except to the extent that such laws are preempted by the federal laws of the United
States of America.

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