Document:

Exhibit

Exhibit 10.3

Amendment to the “Non-compete agreement Mr. Marc Coucke dated 30 March 2015”

This amendment agreement (the Amendment) is made on 27 April 2016 between:
		
	(1)
	Perrigo Ireland 2, a private company limited by shares incorporated under the laws of Ireland with registered office at Treasury Building, Lower Grand Canal Street, Dublin 2, Ireland, registered with the Companies Registration Office under number 541882 (Perrigo Ireland 2) and,

		
	(2)
	Mr. Marc Coucke, residing at Lembergsesteenweg 19, 9820 Merelbeke, 

hereafter together referred to as the Parties, and individually, a Party.
WHEREAS:
		
	(A)
	On 6 November 2014, Perrigo Company Plc and Alychlo NV, amongst others, entered into an agreement for the sale and purchase of 685,348,257 shares of Omega Pharma Invest NV (the SPA), which has been amended from time to time;

		
	(B)
	On 17 March 2015, Perrigo Company Plc assigned its rights and obligations under the SPA to Perrigo Ireland 2; 

		
	(C)
	On 30 March 2015, in the framework of the closing of the SPA, Parties entered into a “Non-Compete Agreement Mr Marc Coucke” (the Original Agreement);

		
	(D)
	As set forth in the Mutual Agreement entered into by Omega Pharma NV, Perrigo Company, PLC, Perrigo Ireland 2, Mylecke Management, Art & Invest NV, Alychlo NV and Mr. Marc Coucke of even date herewith, the Parties wish to modify the scope and term of the non-compete arrangements of the Original Agreement as set out in this Amendment.

IT IS HEREBY AGREED AS FOLLOWS
		
	1.
	Definitions

Capitalised terms used herein and not otherwise defined shall have the meaning set forth in the Original Agreement.
		
	2.
	Amendment

Section 2.1 of the Original Agreement shall be substituted as follows:
“Mr Marc Coucke covenants with Perrigo Ireland 2 that he shall not, whether alone or jointly with another party, and whether directly or indirectly, set up or participate in a business that directly competes with the Business of the Group Companies as on Completion Date until (x) 27 April 2018 in the European Economic Area (other than Belgium) for the Business, (y) 27 April 2018 in Belgium with respect to the distribution of generic drugs, and (z) 27 April 2017 in Belgium for the Business that is not distribution of generic drugs, provided that this restriction shall not:
		
	(a)
	prevent the continuation by Mr Marc Coucke of any activities as conducted by him on 6 November 2014; or

		
	(b)
	prevent Mr Marc Coucke from holding shares or other interests in (i) Perrigo Topco or any member of the Purchaser’s Group or (ii) a listed company which confer not more than 3% of the votes which could normally be cast at a general meeting of that company; or 

		
	(c)
	apply (or as the case may be shall cease to apply) to the extent Mr Marc Coucke acquires any company or business after Completion and, as a result of such acquisition, acquires a company or business which falls within the restrictions of this Subclause (the Relevant Interest), provided that the Relevant Interest does not account for more than 5% of the total turnover of the company or business acquired; or

		
	(d)
	prevent the continuation by Mr Marc Coucke of any of the activities listed in Annex 1. 

For the purposes of this Clause 2 transactions undertaken by Alychlo and any of its affiliated persons (including Mr Marc Coucke) shall be aggregated and treated as undertaken by a single person (and affiliated persons to Alychlo shall include any affiliated person to Alychlo as at 30 March 2015 notwithstanding that it may subsequently cease to be an affiliated person).”
		
	3.
	Original Agreement

With respect to the period prior to the date of this Amendment, the Original Agreement shall remain applicable and govern the non-compete obligations, it being understood that the exceptions included in the amended clause 2(d) are to have effect as of the date of the Original Agreement (as if they had been incorporated into and formed part of the Original Agreement at that time).
With respect to the period as from the date of this Amendment (included), all provisions of the Original Agreement continue to apply in full and unamended, save as expressly amended or supplemented by this Amendment. If there is any conflict between the provisions of this Amendment and the Original Agreement, the provisions of this Amendment shall prevail.
		
	4.
	Applicable law and jurisdiction

		
	4.1
	This Amendment and all non-contractual obligations arising out of it or in connection with it shall be governed by and shall be construed in accordance with the laws of Belgium.

		
	4.2
	Any dispute arising out or in connection with this Amendment shall be exclusively and definitively settled in accordance with the rules of CEPANI.  The arbitral tribunal shall be composed of three arbitrators.  Mr Marc Coucke and Perrigo Ireland 2 shall each nominate in the request for arbitration and the answer, respectively, one arbitrator.  The place of arbitration shall be Brussels and the language of the proceedings shall be English. This clause does not exclude the right of the Parties to ask for interim relief before the president of the Dutch speaking commercial court of Brussels or any other court having jurisdiction. 

Executed in two (2) original copies on the date set out above, each party acknowledging having received one copy.
	
		
	For Perrigo Ireland 2 Ltd.,

	Mr Marc Coucke,

	/s/ Mary Sheahan
Name: Mary Sheahan
Function: Director
	/s/ Marc Coucke

Annex 1 - List of permitted activities
Any activities or participation in relation to or as part of:
a. the trademark K-Protect;
b. Mithra Pharmaceuticals SA;
c. Fagron NV;
d. Ecuphar NV; and 
e. Pharco Innovations NV.Exhibit

Exhibit 10.4
27 April 2016

Perrigo Company Plc (Perrigo Topco)
Treasury Building, Lower Grand Canal Street
Dublin 2
Ireland

Re : Lock-up  agreement relating to the Perrigo Shares
Ladies and Gentlemen,
The undersigned refers to the “Lock-up agreement relating to the Perrigo Shares dated March 30, 2015” (the Original Lock Up Agreement).
Pursuant to the share purchase agreement dated November 6, 2014 between Perrigo Topco (which agreement has been assigned afterwards to Perrigo Ireland 2 Ltd), and Alychlo NV and Holdco I BE NV (the Sellers), as amended from time to time (the SPA), Perrigo Topco issued 5,397,711 Perrigo Shares (the Consideration Perrigo Shares) on Completion to Alychlo NV in consideration for the sale by Alychlo NV to Perrigo Topco of 172,778,708 shares in Omega Pharma Invest NV. Immediately after the acquisition of these 172,778,708 shares in Omega Pharma Invest NV, Perrigo TopCo transferred such shares to Perrigo Ireland 1 Ltd. which immediately thereafter transferred such shares to Perrigo Ireland 2 Ltd. 
The SPA provided for the delivery of certificates representing 1,081,742 shares out of the Consideration Perrigo Shares to an escrow agent, which certificates are to be held subject to and in accordance with a share escrow agreement entered into on the date of the Original Lock Up Agreement by and among Alychlo NV, Perrigo Topco and the escrow agent (the Stock Escrow Agreement).
Capitalised terms used herein and not otherwise defined shall have the meaning set forth in the SPA.
The undersigned represents and warrants to Perrigo Topco that (i) it is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization; (ii) it has the requisite legal capacity to execute and deliver this agreement and to perform its obligations hereunder; (iii) this agreement has been duly executed and delivered by the undersigned and upon its execution and delivery by all parties hereto, will constitute the valid and legally binding obligations of the undersigned, enforceable in accordance with its terms except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to creditors rights generally, and the availability of injunctive relief and other equitable remedies; and (iv) no other action is required on the part of the undersigned in connection with the execution, delivery or performance of this agreement.
1.    Amendment
The undersigned requests the agreement of Perrigo Topco of the following amendment to the Original Lock Up Agreement.  Effective as of the date hereof clause 1 - Lock-Up of the Original Lock Up Agreement shall be replaced as follows :
“1.    Lock-Up.  In consideration of the foregoing, the undersigned hereby agrees that, without the prior written consent of Perrigo Topco, the undersigned will not, and will cause its Affiliates not to, (a) directly or indirectly, sell, offer, 

contract or grant any option to sell (including without limitation any short sale), pledge, transfer, establish an open “put equivalent position” within the meaning of Rule 16a-1(h) under the Exchange Act or otherwise dispose of any Consideration Perrigo Shares or other securities issued or issuable with respect to the Consideration Perrigo Shares by way of a stock dividend, stock split, reorganization, recapitalization or merger (the Perrigo Company Securities) or any legal or beneficial ownership interest therein, (b) publicly announce an intention to do any of the foregoing, or (c) enter into any swap or other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any Perrigo Company Securities owned either of record or beneficially (as defined in Rule 13-d under the Exchange Act) by the undersigned, whether any such swap or transaction is to be settled by delivery of Perrigo Company Securities or other securities, in cash or otherwise (each of (a), (b) and (c), individually or collectively, is referred to herein as a Disposition), for a period commencing on the Completion Date and ending on 31 December 2017 (such restrictions on Dispositions collectively, the Lock-up); provided that this agreement shall not prevent the undersigned from making any transfers to Affiliates, it being understood that any Disposition by the undersigned or its Affiliates shall be aggregated for purposes of any volume restrictions hereunder, and if any such Affiliate ceases to be an Affiliate of the undersigned during the period of the Lock-up, any Perrigo Company Securities it holds that remain subject to the Lock-up shall be transferred back to the undersigned and remain subject to the terms of this agreement; provided, further that (a) on 30 September 2016, 25% of the Perrigo Company Securities acquired by the undersigned at the Completion Date shall be released from the Lock-up, (b) on 31 December 2016, a further 25% of the Perrigo Company Securities acquired by the undersigned at the Completion Date shall be released from the Lock-up, (c) on 31 March 2017, a further 25% of the Perrigo Company Securities acquired by the undersigned at the Completion Date shall be released from the Lock-up and (d) on 31 December 2017 the remainder of the Perrigo Company Securities then held by the undersigned shall be released from the Lock-up.  Notwithstanding anything in this agreement to the contrary, the Perrigo Company Securities acquired by the undersigned at the Completion Date shall be immediately released, and the Lock-up shall not apply: (1) in the event of a change of control of Perrigo Topco, (2) to the extent necessary to allow pro rata participation in any Perrigo Topco share repurchase or self tender, or (3) in the event any person makes a tender offer for Perrigo Topco that is recommended by Perrigo Topco’s board of directors.  As used in this Section 1, “change of control” as to Perrigo Topco means the occurrence of any of the following: (1) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than Perrigo Topco or one of its subsidiaries, becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of Perrigo Topco’s voting stock or other voting stock into which Perrigo Topco’s voting stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (2) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of Perrigo Topco’s assets and the assets of Perrigo Topco’s subsidiaries, taken as a whole, to one or more “persons” (as that term is used in Section 13(d)(3) of the Exchange Act), other than Perrigo Topco or one of its subsidiaries; or (3) the first day on which a majority of the members of Perrigo Topco’s board of directors who were in office on March, 30 2015 or who are recommended for election after such date by a majority of the board of directors then in office are no longer continuing as directors.  Nothing in this agreement is intended to prohibit the Stock Escrow Agreement or any actions contemplated thereunder.”

2.    Other provisions not affected
All other provisions of the Original Lock Up Agreement shall remain applicable and in full force and effect.
3.    Governing Law
This letter agreement shall be construed and interpreted and the rights of the parties determined in accordance with the law of the State of New York.  The undersigned hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of New York and the United States of America located in the County of New York for any action or proceeding arising out of or relating to this agreement (and agrees not to commence any action or proceeding relating thereto except in such courts).  The undersigned hereby irrevocably and unconditionally waives any objection to the laying of venue of any action or proceeding arising out of this agreement in the courts of the State of New York or the United States of America located in the County of New York, and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum.
This agreement is irrevocable and will be binding on the undersigned and the respective successors, heirs, personal representatives and assigns of the undersigned. 

ALYCHLO NV

/s/ Marc Coucke                
Name:  Marc Coucke
Title: Chairman & Managing Director

ACKNOWLEDGED AND AGREED:

PERRIGO COMPANY PLC

/s/ John T. Hendrickson                
Name:  John T. Hendrickson
Title:  Chief Executive Officer
Date: 27 April 2016

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