Document:

Exhibit 10.1

 

EXECUTION VERSION

 

VOTING AGREEMENT

 

This Voting Agreement
(“Agreement”), dated as of August 5, 2020, is by and among TELADOC HEALTH, INC., a Delaware corporation (“Tempranillo”),
TEMPRANILLO MERGER SUB, INC., a Delaware corporation and a direct, wholly owned Subsidiary of Tempranillo (“Merger Sub”),
and the persons listed on the attached Schedule A who are signatories to this Agreement (each, a “Stockholder”
and collectively, the “Stockholders”; provided that General Catalyst Group VI, L.P., General Catalyst Group
VIII, L.P., General Catalyst Group VIII Supplemental, L.P. and GC Venture LH Manager, LLC (collectively, “General Catalyst”)
shall be deemed to be a single Stockholder for purposes of the restrictions and exceptions set forth in Section 2).

 

RECITALS

 

WHEREAS, concurrently
herewith, Livongo Health, Inc., a Delaware corporation (“Lafite”), Tempranillo and Merger Sub are entering into
an Agreement and Plan of Merger (the “Merger Agreement”);

 

WHEREAS, as of the
date of this Agreement, each Stockholder is the “beneficial owner” (within the meaning of Rule 13d-3 under the Exchange
Act) of the number of shares of Lafite Common Stock set forth next to such Stockholder’s name on Schedule A hereto,
being all of the shares of Lafite Common Stock owned of record or beneficially by such Stockholder as of the date of this Agreement
(collectively with respect to each Stockholder, the “Owned Shares” and, together with any additional Shares
or other voting securities of Lafite of which such Stockholder acquires beneficial ownership after the date of this Agreement,
including by purchase, as a result of a stock dividend, stock split, recapitalization, combination, consolidation, reclassification,
exchange or change of such shares, or other similar transaction, or upon exercise or conversion of any securities (including any
Lafite Stock Options, Lafite Restricted Stock, Lafite RSUs, Lafite PSUs or any other equity awards), such Stockholder’s “Covered
Shares”);

 

WHEREAS, as a condition
and inducement to the willingness of Tempranillo and Merger Sub to enter into the Merger Agreement and to proceed with the transactions
contemplated thereby, including the Merger, Tempranillo, Merger Sub and the Stockholders are entering into this Agreement; and

 

WHEREAS, the Stockholders
acknowledge that each of Tempranillo and Merger Sub are entering into the Merger Agreement in reliance on the representations,
warranties, covenants and other agreements of the Stockholders set forth in this Agreement and would not enter into the Merger
Agreement if the Stockholders did not enter into this Agreement.

 

     

     

    

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending
to be legally bound, do hereby agree as follows:

 

1.                 
 Certain Definitions. All capitalized terms that are used but not defined herein have the respective meanings ascribed
to them in the Merger Agreement. For all purposes of and under this Agreement, the following terms have the following respective
meanings:

 

(a)              
“Constructive Disposition” means, with respect to a security, a short sale with respect to such security,
entering into or acquiring a derivative contract with respect to such security, entering into or acquiring a futures or forward
contract to deliver such security or entering into any other hedging or other derivative, swap, “put-call,” margin,
securities lending or other transaction that has or reasonably would be expected to have the effect of changing, limiting, arbitraging
or reallocating the economic benefits and risks of ownership of such security (other than any of the foregoing that would not materially
impair the Stockholder’s ability to perform its obligations under this Agreement).

 

(b)              
“Permitted Liens” means (i) Liens for Taxes that (A) are not yet due and payable or (B) are being contested
in good faith by appropriate proceedings, (ii) Liens for assessments and other governmental charges or landlords’, carriers’,
warehousemen’s, mechanics’, repairmen’s, workers’ and other similar common law or statutory Liens arising
or incurred in the ordinary course of business consistent with past practice, in each case that (A) relate to obligations that
are not delinquent or (B) the Stockholder or any of its Affiliates is contesting in good faith by appropriate proceedings and,
(iii) Liens discharged prior to the Effective Time and (iv) Liens incurred in the ordinary course of business consistent with past
practice that would not reasonably be expected to interfere adversely in a material way with the use of the properties or assets
encumbered thereby.

 

(c)              
“Termination Date” means the earlier to occur of (i) the Effective Time, (ii) the termination of the
Merger Agreement in accordance with its terms, (iii) the date on which any amendment to the Merger Agreement is effected, or any
waiver of Lafite’s rights under the Merger Agreement is granted, in each case, without the Stockholders’ prior written
consent, that (A) diminishes the Merger Consideration to be received by the stockholders of Lafite, (B) changes the forms of Merger
Consideration payable to the stockholders of Lafite, (C) extends the End Date (as defined in the Merger Agreement) or imposes any
additional conditions or obligations that would reasonably be expected to prevent or impede the consummation of the Merger, or
(D) affects any of the other material terms of Article 2 (The Merger), Section 6.02 (Lafite Takeover Proposals; Lafite Adverse
Recommendation Change), Section 7.05 (Director and Officer Liability), Section 8.07 (Tax Treatment), Article 9 (Conditions to the
Merger) or Article 10 (Termination) of the Merger Agreement in a manner that is materially adverse to any of the Stockholders,
(iv) the date upon which the Tempranillo Board or any committee thereof makes a Tempranillo Adverse Recommendation Change, and
(v) the date upon which the Lafite Board or any committee thereof makes a Lafite Adverse Recommendation Change.

 

(d)               A
Person will be deemed to have effected a “Transfer” of a security if such Person, whether voluntarily or
involuntarily, directly or indirectly (i) sells, pledges, encumbers, hypothecates, leases, assigns, gifts, grants an option
with respect to, transfers, exchanges, tenders or disposes (by merger, by testamentary disposition, by operation of law or
otherwise, including, without limitation, by way of Constructive Disposition) of such security or any interest in such
security, (ii) creates or permits to exist any Liens (other than Permitted Liens and restrictions on transfer imposed under
applicable securities laws), (iii) deposits such security into a voting trust or enters into a voting agreement or
arrangement or grants any proxy, power of attorney or other authorization with respect thereto that is inconsistent with this
Agreement, or (iv) agrees to take any of the actions referred to in the foregoing clauses (i) through (iii).

 

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2.                 
Transfer Restrictions. From the date of this Agreement until the Termination Date, no Stockholder shall Transfer
(or cause or permit the Transfer of) any of its Covered Shares, or enter into any agreement relating thereto, except with Tempranillo’s
prior written consent. Notwithstanding anything to the contrary in this Agreement, this Section 2 shall not prohibit (i)
a Transfer of Covered Shares by a Stockholder to any of its Affiliates or, if the Stockholder is a natural person, to any member
of the Stockholder’s immediate family or to a trust for the benefit of the Stockholder or any member of the Stockholder’s
immediate family; provided, that such a Transfer shall be permitted only if, as a precondition to such Transfer, the transferee
agrees in writing to be bound by all of the obligations of the Stockholder under this Agreement with respect to such Shares; (ii)
Transfers by each Stockholder of up to 25% of its Covered Shares without further restriction (it being understood and agreed that
such Transfers may include distributions in kind and that General Catalyst may allocate the source of the Covered Shares that are
Transferred pursuant to this Section 2(ii) among its Affiliates in its sole discretion); and (iii) Transfers of Covered
Shares by each of Glen Tullman and Lee Shapiro and any member of such Stockholder’s immediate family, a trust for the benefit
of such Stockholder or any member of such Stockholder’s immediate family equivalent to such number of Covered Shares that
would have been sold if such Stockholder’s existing plan established pursuant to Rule 10b-5 of the Exchange Act had remained
in effect following the date hereof. Any Transfer or attempted Transfer of any Covered Shares in violation of this Section 2
shall be null and void and of no effect whatsoever. In furtherance of the foregoing, from the date of this Agreement until the
Termination Date, no Stockholder shall make any demands to register any of its Covered Shares pursuant to the terms of that certain
Fourth Amended and Restated Investors’ Rights Agreement, dated as of April 10, 2018, by and among, inter alios, Lafite
and certain of the persons listed on Schedule A attached thereto (the “Investors’ Rights Agreement”).

 

3.                 
Agreement to Vote.

 

(a)              
From the date of this Agreement until the Termination Date, at every meeting of the stockholders of Lafite (and at every
adjournment or postponement thereof) to vote on any matter contemplated by this Agreement, each Stockholder shall unconditionally
and irrevocably vote, and shall cause or direct to be unconditionally and irrevocably voted, all its Covered Shares held at that
time:

 

(i)                
in favor of the adoption of the Merger Agreement;

 

(ii)             
in favor of the approval of any proposal to adjourn the meeting to a later date, if there are not sufficient affirmative
votes (in person or by proxy) to obtain the Requisite Lafite Vote on the date on which such meeting is held; and

 

(iii)           
against any Lafite Takeover Proposal.

 

(b)               From
the date of this Agreement until the Termination Date, each Stockholder shall appear at each meeting of the stockholders of
Lafite, or adjournment or postponement thereof, to vote on any matter contemplated by this Agreement and shall cause all
Covered Shares to be counted as present thereat for purposes of calculating a quorum and shall vote all Covered Shares in
accordance with this Section 3.

 

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(c)              
Nothing in this Agreement, including this Section 3, limits or restricts any Affiliate or designee of any Stockholder
who serves as a member of the Lafite Board in acting or voting in his or her capacity as a director of Lafite and exercising his
or her fiduciary duties and responsibilities, it being understood that this Agreement applies to each Stockholder solely in its
capacity as a stockholder of Lafite and does not apply to any such Affiliate or designee’s actions, judgments or decisions
as a director of Lafite, and such actions (or failures to act) shall not be deemed to constitute a breach of this Agreement.

 

4.                 
No Inconsistent Agreements. Each Stockholder hereby represents, covenants and agrees that, except as contemplated
by this Agreement, such Stockholder (a) has not entered into, and shall not enter into at any time prior to the Termination Date,
any voting agreement or voting trust with respect to any of its Covered Shares and (b) has not granted, and shall not grant at
any time prior to the Termination Date, a proxy or power of attorney with respect to any of its Covered Shares, in either case,
that is inconsistent with such Stockholder’s obligations pursuant to this Agreement; provided, that this Section
4 shall not preclude the Stockholder from transferring Covered Shares pursuant to Section 2(ii) or Section 2(iii).

 

5.                 
Representations and Warranties of the Stockholders. Each Stockholder hereby represents and warrants to Tempranillo
as follows:

 

(a)              
Power; Organization; Binding Agreement. Such Stockholder has the power and authority (in the case of each Stockholder
that is not a natural person) or capacity (in the case of each Stockholder that is a natural person) to execute and deliver this
Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby. With respect to each Stockholder
that is not a natural person, (i) the execution, delivery and performance by such Stockholder of this Agreement, and the consummation
by such Stockholder of the transactions contemplated hereby, have been duly authorized by all necessary corporate, limited liability
company, limited liability partnership or similar equivalent action on the part of such Stockholder and (ii) such Stockholder is
duly organized, validly existing and in good standing under the Applicable Law of its jurisdiction of formation. This Agreement
has been duly executed and delivered by such Stockholder, and, assuming due authorization, execution and delivery by Tempranillo
and Merger Sub, this Agreement is enforceable against such Stockholder in accordance with its terms, except that such enforceability
may be limited by the Bankruptcy and Equity Exceptions.

 

(b)               No
Conflicts. None of the execution and delivery by such Stockholder of this Agreement, the performance by such Stockholder
of its obligations hereunder or the consummation by such Stockholder of the transactions contemplated hereby will (i) require
any consent or approval under, or result in a violation or breach of, any agreement to which such Stockholder is a party or
by which such Stockholder may be bound, including any voting agreement or voting trust, (ii) result in the creation of any
Lien on any of the assets or properties of such Stockholder, (iii) violate any Applicable Law or Order or (iv) with respect
to each Stockholder that is not a natural person, violate the organizational documents of such Stockholder, except for such
conflicts, consents, breaches, Liens or violations that would not, individually or in the aggregate, prevent or materially
delay Stockholder from performing his, her or its obligations under this Agreement.

 

(c)              
Ownership of Covered Shares. Such Stockholder is the beneficial owner of such Stockholder’s Covered Shares.
All such Stockholder’s Covered Shares are free and clear of any Liens that would materially and adversely affect the ability
of Stockholder to perform his, her or its obligations under this Agreement, and no person has a right to acquire any of such securities,
in each case other than pursuant to this Agreement, the Merger Agreement or the Investors’ Rights Agreement, under applicable
federal or state securities laws or pursuant to any written policies of Lafite only with respect to restrictions upon the trading
of securities under applicable securities laws. As of the date of this Agreement, except as set forth on Schedule A, other
than the Owned Shares, such Stockholder does not own beneficially or of record any (i) shares of capital stock or voting securities
of Lafite, (ii) securities of Lafite convertible into or exchangeable for shares of capital stock or voting securities of Lafite
or (iii) options or other rights to acquire from Lafite any capital stock, voting securities or securities convertible into or
exchangeable for capital stock or voting securities of Lafite.

 

(d)              
Voting Power. Such Stockholder has the requisite voting power, power of disposition, power to issue instructions
with respect to the matters set forth herein, and power to agree to all of the matters set forth in this Agreement necessary to
take all actions required under this Agreement, in each case with respect to all of the securities subject to this Agreement owned
by such Stockholder, with no limitations, qualifications or restrictions on such rights, subject to applicable federal securities
laws and those arising under the terms of this Agreement.

 

(e)              
Reliance by Tempranillo and Merger Sub. Such Stockholder understands and acknowledges that each of Tempranillo and
Merger Sub is entering into the Merger Agreement in reliance upon each of the Stockholder’s execution and delivery of this
Agreement.

 

(f)               
Consents and Approvals. The execution and delivery of this Agreement by such Stockholder does not, and the performance
by such Stockholder of its obligations under this Agreement and the consummation of the transactions contemplated hereby will not,
require such Stockholder to obtain any consent, approval, authorization or permit of, or to make any filing with or notification
to, any Governmental Authority, except in each case for filings with the SEC or where the failure to obtain such consents, approvals,
authorizations or permits, or to make such filings and notifications, would not, either individually or in the aggregate, prevent
or materially delay the performance by such Stockholder of any of its obligations hereunder.

 

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6.                 
Certain Restrictions.

 

(a)              
From the date of this Agreement until the Termination Date, each Stockholder hereby agrees that (i) such Stockholder shall
not, directly or indirectly, (ii) such Stockholder shall cause each employee of such Stockholder and shall use its reasonable
best efforts to cause each financial advisor, attorney, accountant, consultant, agent, or other advisor or representative of such
Stockholder (in its capacity as such) not to, and (iii) with respect to each Stockholder that is not a natural person, such Stockholder
shall (A) cause its directors and officers not to, (B) not authorize or permit any of its Subsidiaries (which, for purposes of
this Section 6(a) shall not include portfolio companies of a Stockholder that is a venture capital or other investment
firm unless such portfolio company is directed or encouraged by the Stockholder with respect to the actions contemplated by this
Section 6(a)) to, or any of its or its Subsidiaries’ directors, officers or employees to, and (C) use its reasonable
best efforts to cause each financial advisor, attorney, accountant, consultant, agent, or other advisor or representative of any
of its Subsidiaries (in its capacity as such) not to, in each case initiate, solicit, propose, induce or knowingly encourage or
facilitate the making of any Lafite Takeover Proposal or any inquiries or the making of any proposal that would reasonably be
expected to lead to a Lafite Takeover Proposal, (w) other than informing Third Parties of the existence of the provisions contained
in this Section 6(a), enter into, engage in, continue or otherwise participate in negotiations or discussions with, or
furnish any non-public information (or access thereto) concerning Lafite or any of its Subsidiaries to, any Third Party in connection
with, or for the purpose of knowingly encouraging or facilitating, or otherwise cooperate in any way with any Third Party (or
any Representative thereof) with respect to, a Lafite Takeover Proposal, (x) recommend or enter into any Contract, letter of intent,
acquisition agreement, agreement in principle, memorandum of understanding, option agreement, joint venture agreement, partnership
agreement or other agreement with respect to any Lafite Takeover Proposal, (y) approve or recommend, or publicly propose to approve
or recommend, any Lafite Takeover Proposal or (z) approve, authorize, agree or publicly announce an intention to do any of the
foregoing; provided, that this Section 6(a) shall not restrict a Stockholder from taking any action or doing anything
that Lafite is permitted to do in accordance with the terms of Section 6.02 of the Merger Agreement.

 

(b)              
Prior to the Termination Date, in the event that any Stockholder (i) acquires record or beneficial ownership of, or the
power to vote or direct the voting of, any additional Shares or other voting interests with respect to Lafite, such Shares or voting
interests will, without further action of the parties, be deemed Covered Shares and subject to the provisions of this Agreement,
the number of Shares held by such Stockholders will be deemed amended accordingly, and such Shares or voting interests will automatically
become subject to the terms of this Agreement or (ii) Transfers any Covered Shares in accordance with Section 2(ii) or Section
2(iii), such Covered Shares will, upon Transfer (including, for the avoidance of doubt, any distribution in kind to the limited
partners of (x) any Stockholder or (y) any Affiliate of any Stockholder), and without further action of the parties, be deemed
to no longer constitute Covered Shares.

 

7.                 
Representations and Warranties of Tempranillo and Merger Sub. Tempranillo and Merger Sub hereby represent and warrant
to the Stockholders as follows:

 

(a)               Authority;
Binding Nature.  Each of Tempranillo and Merger Sub has all requisite power and authority to (i) execute and
deliver this Agreement, (ii) perform its covenants and obligations hereunder and (iii) consummate the transactions
contemplated hereby to be consummated by it. The execution and delivery of this Agreement by each of Tempranillo and Merger
Sub, the performance of each of their covenants and obligations hereunder and the consummation by each of them of the
transactions contemplated hereby have been duly and validly authorized by all necessary action on the part of Tempranillo and
Merger Sub, and no additional actions are necessary to authorize (A) the execution and delivery of this Agreement by
Tempranillo and Merger Sub; (B) the performance by each of Tempranillo and Merger Sub of its covenants and obligations
hereunder; or (C) the consummation of the transactions contemplated hereby. This Agreement has been duly and validly
executed and delivered by Tempranillo and Merger Sub and (assuming due authorization, execution and delivery by the
Stockholders) constitutes a valid and binding obligation of Tempranillo and Merger Sub, enforceable against Tempranillo and
Merger Sub in accordance with its terms, except that such enforceability may be limited by the Bankruptcy and Equity
Exceptions. 

 

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(b)              
 No Conflicts. None of the execution and delivery by each of Tempranillo and Merger Sub of this Agreement, the
performance by each of Tempranillo and Merger Sub of its obligations hereunder or the consummation by each of Tempranillo and Merger
Sub of the transactions contemplated hereby will (i) require any consent or approval under, or result in a violation or breach
of, any agreement to which Tempranillo or Merger Sub is a party or by which such Stockholder may be bound, including any voting
agreement or voting trust, (ii) result in the creation of any Lien on any of the assets or properties of such Tempranillo or Merger
Sub, (iii) violate any Applicable Law or Order or (iv) violate the organizational documents of Tempranillo or Merger Sub.

 

8.                 
Spousal Consent. If a Stockholder is a married individual and any of its Owned Shares constitutes community property
or otherwise need spousal or other approval for this Agreement to be legal, valid and binding, such Stockholder shall deliver to
Tempranillo, concurrently herewith, a duly executed consent of such Stockholder’s spouse, in the form attached hereto as
Schedule B.

 

9.                 
Stop Transfer Instructions. At all times commencing with the execution and delivery of this Agreement and continuing
until the Termination Date, in furtherance of this Agreement, each Stockholder hereby authorizes Lafite or its counsel to instruct
its transfer agent to put in place a stop transfer order with respect to all of the securities of Lafite held of record by such
Stockholder (and that this Agreement places limits on the voting and transfer of) except with respect to Transfers any Covered
Shares in accordance with Section 2(ii) or Section 2(iii).

 

10.             
Termination. This Agreement and all rights and obligations of the parties hereunder and thereunder, will terminate
and have no further force or effect as of the Termination Date; provided, that this Section 10 and Section 11
shall survive the termination of this Agreement. Notwithstanding the foregoing, nothing set forth in this Section 10 or
elsewhere in this Agreement relieves either party hereto from liability, or otherwise limits the liability of either party hereto,
for any willful and material breach of this Agreement prior to such termination.

 

11.             
Miscellaneous.

 

(a)              
Severability. If any term, provision, covenant or restriction of this Agreement or the application of any such provision
to any person or circumstance shall be held invalid, illegal, void or unenforceable in any respect by a court of competent jurisdiction
or other Governmental Authority, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain
in full force and effect and shall in no way be affected, impaired or invalidated. Upon such a holding, the parties hereto agree
to negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in
an acceptable manner, in order that the transactions contemplated by this Agreement be consummated as originally contemplated to
the fullest extent possible.

 

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(b)              
 Assignment. Except in connection with a Transfer of any Covered Shares in accordance with Section 2(i); neither
this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by operation of
Law or otherwise by any of the parties without the prior written consent of the other parties and any purported assignment in violation
hereof shall be null and void ab initio, except that Tempranillo may assign, in its sole discretion, any or all of its rights,
interests and obligations under this Agreement to any affiliate of Tempranillo to which Tempranillo’s rights under the Merger
Agreement are assigned in accordance with the terms thereof, but no such assignment shall relieve Tempranillo of its obligations
under this Agreement if such assignee does not perform such obligations. Subject to the preceding sentence, this Agreement shall
be binding upon, inure to the benefit of and be enforceable by, the parties hereto and their respective successors and assigns.

 

(c)              
Amendment and Modification; Waiver. This Agreement may be amended or waived by any party only if such amendment or
waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement or, in the case of a waiver, by
each party against whom the waiver is to be effective. Any failure of any of the parties to comply with any obligation, covenant,
agreement or condition in this Agreement may be waived by any of the parties entitled to the benefit thereof only by a written
instrument signed by each such party granting such waiver. No failure or delay by any party in exercising any right, power or privilege
hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and
not exclusive of any rights or remedies provided by Applicable Law or in equity.

 

(d)              
Specific Performance. The parties agree that irreparable damage for which monetary damages, even if available, would
not be an adequate remedy, would occur and that the parties would not have any adequate remedy at law in the event that any of
the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that, in addition to any other remedy to which the parties are entitled at law or in equity, (i) the parties shall
be entitled to an injunction or injunctions, specific performance, or other equitable relief, to prevent breaches or threatened
or anticipated breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the Chosen
Courts, without proof of damages or otherwise, and (ii) the right of specific performance is an integral part of the transactions
contemplated hereby and without that right, none of Tempranillo, Merger Sub or any of the Stockholders would have entered into
this Agreement. Each of the parties agrees that it waives the defense of adequacy of a remedy at law and will not oppose the granting
of an injunction or injunctions, specific performance or other equitable relief on the basis that (x) the other parties have an
adequate remedy at law or (y) an award of an injunction, specific performance or other equitable relief is not an appropriate remedy
for any reason at law or equity. The parties acknowledge and agree that any party seeking an injunction or injunctions to prevent
breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with this Section
11(d) shall not be required to provide any bond or other security in connection with any such order or injunction.

 

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(e)               Notices.
All notices or other communications required or permitted under, or otherwise given in connection with, this Agreement shall
be in writing and shall be deemed to have been duly given (i) when delivered, if delivered in person, (ii) on the next
Business Day if transmitted by national overnight courier (with confirmation of delivery) or (iii) on the date transmitted if
sent by email (provided that no “bounce back” or similar message of non-delivery is received with respect
thereto), as follows (or at such other address for a party as shall be specified by notice given in accordance with this Section
11(e)):

 

If to the Stockholders, to the address
for notice set forth on Schedule A hereto, with a copy (which will not constitute notice) to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

525 University Avenue

Palo Alto, CA 94301

Facsimile:         (650) 798 6543

Email:                mike.ringler@skadden.com,
sonia.nijjar@skadden.com

Attention:           Mike Ringler

                           Sonia Nijjar

 

if to Tempranillo or Merger Sub,
to:

 

Teladoc Health, Inc.

2 Manhattanville Road, Suite 203

Purchase, NY 10577

Attention: Adam C. Vandervoort

Email: avandervoort@teladoc.com

 

and with a copy (which will not
constitute notice) to:

 

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019

Facsimile:         (212) 757-3990

Email:               sbarshay@paulweiss.com,
lturano@paulweiss.com

Attention:          Scott A. Barshay

                           Laura C. Turano

 

if to Lafite, to:

 

Livongo Health, Inc.

50 West Evelyn Avenue, Suite 150

Mountain View, California 94041

Email:                 legal@livongo.com

Attention:            Erica Palsis, General Counsel

 

with a copy (which will not constitute notice)
to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

525 University Avenue

Palo Alto, CA 94301

Facsimile:         (650) 798 6543

Email:                mike.ringler@skadden.com,
sonia.nijjar@skadden.com

Attention:          Mike Ringler

                           Sonia Nijjar

 

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Notwithstanding anything in this Agreement to the contrary,
any notice given in accordance with the foregoing clauses (i) or (ii) of this Section 11(e) shall only be effective if a
duplicative copy of such notice is also given by email in the method described in this Section 11(e).

 

(f)               
No Third Party Beneficiaries. This Agreement is not intended to confer upon any person other than the parties hereto
(and their respective successors and permitted assigns) any rights (legal, equitable or otherwise) or remedies, whether as third-party
beneficiaries or otherwise.

 

(g)              
Governing Law. This Agreement and any Proceedings arising out of or related hereto or to the inducement of any party
hereto to enter into this Agreement (whether for breach of contract, tortious conduct or otherwise and whether predicated on common
law statute or otherwise) shall be governed by and construed in accordance with the laws of the State of Delaware, without regard
to the conflicts of law rules of such state.

 

(h)              
Jurisdiction. Each of the parties hereto irrevocably agree (i) that any Proceeding seeking to enforce any provision
of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be
brought in the Chancery Court of the State of Delaware and any state appellate court therefrom, or, if the Court of Chancery of
the State of Delaware does not have subject matter jurisdiction over the matter, the Superior Court of the State of Delaware or
the Federal District Court for the District of Delaware located in Wilmington, Delaware, and any appellate courts therefrom (the
“Chosen Courts”) and (ii) not to commence any such Proceeding in any court except such Chosen Courts. Each
party hereby irrevocably submits to the exclusive jurisdiction of such court in respect of any legal or equitable Proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby, or relating to enforcement of any of the terms of
this Agreement, and hereby waives, and agrees not to assert, as a defense in any such Proceeding, any claim that it is not subject
personally to the jurisdiction of such court, that the Proceeding is brought in an inconvenient forum, that the venue of the Proceeding
is improper or that this Agreement or the transactions contemplated hereby may not be enforced in or by such courts. Each party
agrees that notice or the service of process in any Proceeding arising out of or relating to this Agreement or the Transactions
shall be properly served or delivered if delivered in the manner contemplated by Section 11(e) or in any other manner permitted
by Applicable Law. 

 

(i)                 WAIVER
OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS,
(III) IT MAKES SUCH WAIVERS VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER THINGS,
THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS Section 11(i).

 

    9

     

    

 

(j)                
Rules of Construction. Each of the parties hereto acknowledges that it has been represented by counsel of its choice
throughout all negotiations that have preceded the execution of this Agreement, and that it has executed the same with the advice
of said independent counsel. Each party and its counsel cooperated and participated in the drafting and preparation of this Agreement
and the documents referred to in this Agreement, and any and all drafts relating thereto exchanged among the parties shall be deemed
the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation. Accordingly,
any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party
that drafted or prepared it is of no application and is hereby expressly waived by each of the parties hereto.

 

(k)              
Entire Agreement. This Agreement, together with any exhibit, annex and schedule hereto and the Merger Agreement and
any exhibit, annex and schedule thereto, constitutes the entire agreement among the parties with respect to the subject matter
hereof and supersedes all prior agreements and understandings, both written and oral, among the parties with respect thereto. For
the avoidance of doubt, each Stockholder agrees that it will not claim that such Stockholder or any of its Affiliates has registration
or similar rights under the Investors’ Rights Agreement following the Effective Time.

 

(l)                 Interpretation.
The words “hereof,” “herein,” “hereto” and “hereunder” and words of like
import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.
The headings and captions contained herein are included for convenience of reference only and shall be ignored in the
construction or interpretation hereof. References to Articles, Sections, Exhibits, Annexes and Schedules are to
Articles, Sections, Exhibits, Annexes and Schedules of this Agreement unless otherwise specified and references to clauses
without a cross-reference to a Section or subsection are references to clauses within the same Section or subsection. All
Exhibits, Annexes and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this
Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit, Annex or Schedule but not otherwise
defined therein shall have the meaning as defined in this Agreement. Any singular term in this Agreement shall be deemed to
include the plural, and any plural term the singular. Whenever the words “include,” “includes” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without
limitation,” whether or not they are in fact followed by those words or words of like import. Unless the context
otherwise requires, the terms “neither,” “nor,” “any,” “either” and
“or” are not exclusive. “Writing,” “written” and comparable terms refer to printing,
typing and other means of reproducing words (including electronic media) in a visible form. References to
“days” shall be to calendar days unless otherwise indicated. References to “from” or
“through” any date mean, unless otherwise specified, from and including or through and including such date,
respectively. No summary of this Agreement or any Exhibit, Annex, Schedule or other document delivered herewith prepared by
or on behalf of any party will affect the meaning or interpretation of this Agreement or such Exhibit, Annex or Schedule. Any
reference in this Agreement to a date or time shall be deemed to be such date or time in the City of New York,
New York, U.S.A., unless otherwise specified. Any Contract, instrument or law defined or referred to herein means such
Contract, instrument or law as from time to time amended, modified or supplemented (provided that for purposes of any
representations and warranties contained in this Agreement that are made as of a specific date or dates, references to
(x) any Contract, instrument or statute shall be deemed to refer to such Contract, instrument or statute, as amended, as
of such date, and (y) any rules or regulations promulgated under any such statute, in each case, as of such date).
Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or
neuter forms.

 

    10

     

    

 

(m)            
Expenses. Except as otherwise expressly provided in this Agreement or the Merger Agreement, all costs and expenses
incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs
or expenses.

 

(n)              
No Recourse. This Agreement may only be enforced against, and any claims or causes of action that may be based upon,
arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement may only be made against
the entities that are expressly identified as parties hereto and no former, current or future equity holders, controlling persons,
directors, officers, employees, agents or Affiliates of any party hereto or any former, current or future stockholder, controlling
person, director, officer, employee, general or limited partner, member, manager, agent or Affiliate of any of the foregoing shall
have any liability for any obligations or liabilities of the parties to this Agreement or for any claim (whether in tort, contract
or otherwise) based on, in respect of, or by reason of, the transactions contemplated hereby or in respect of any representations
made or alleged to be made in connection herewith.

 

12.             
Counterparts. This Agreement may be signed in any number of counterparts, each of which shall be an original, with
the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when
each party hereto shall have received a counterpart hereof signed by all of the other parties hereto, it being understood and agreed
that all parties hereto need not sign the same counterpart. Until and unless each party has received a counterpart hereof signed
by each other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether
by virtue of any other oral or written agreement or other communication). Signatures to this Agreement transmitted by electronic
mail in PDF form, or by any other electronic means designed to preserve the original graphic and pictorial appearance of a document
(including DocuSign), will be deemed to have the same effect as physical delivery of the paper document bearing the original signatures.

 

13.             
Stockholder Obligation Several and Not Joint. The obligations of each Stockholder hereunder shall be several and
not joint, and no Stockholder shall be liable for any breach of the terms of this Agreement by any other Stockholder.

 

[The remainder of this page is intentionally
left blank.]

 

    11

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	 	TELADOC HEALTH, INC.
	 	 
	 	/s/ Jason Gorevic
	 	Name: Jason Gorevic
	 	Title: Chief Executive Officer
	 	 
	 	TEMPRANILLO MERGER SUB, INC.
	 	 
	 	/s/ Adam C. Vandervoort
	 	Name: Adam C. Vandervoort
	 	Title: President

 

[Signature Page to Voting Agreement] 

     

     

    

 

	 	/s/ Glen Tullman
	 	Glen Tullman
	 	 
	 	 
	 	/s/ Lee Shapiro
	 	Lee Shapiro
	 	 
	 	 
	 	KINNEVIK INTERNET LUX S.à r.l.
	 	 
	 	 
	 	/s/ Anna Lindberger-Larsson
	 	Name: Anna Lindberger-Larsson
	 	Title: Director
	 	 
	 	 
	 	/s/ Réjane Koczorowski
	 	Name: Réjane Koczorowski
	 	Title: Director
	 	 
	 	 
	 	GENERAL CATALYST GROUP VI, L.P.
	 	 
	 	By: General Catalyst Partners VI, L.P.
	 	        its General Partner
	 	 
	 	By: General Catalyst GP VI, LLC
	 	        its General Partner
	 	 
	 	 
	 	/s/ Christopher McCain
	 	Name: Christopher McCain
	 	Title: Chief Legal Officer
	 	 
	 	 
	 	GENERAL CATALYST GROUP VIII, L.P.
	 	 
	 	By: General Catalyst Partners VIII, L.P.
	 	        its General Partner
	 	 
	 	By: General Catalyst GP VIII, LLC
	 	        its General Partner
	 	 
	 	 
	 	/s/ Christopher McCain
	 	Name: Christopher McCain
	 	Title: Chief Legal Officer

 

 

[Signature Page to Voting Agreement]

 

     

     

    

 

	 	GENERAL CATALYST GROUP VIII
	 	SUPPLEMENTAL, L.P.
	 	 
	 	By: General Catalyst Partners VIII, L.P.
	 	        its General Partner
	 	 
	 	By: General Catalyst GP VIII, LLC
	 	        its General Partner
	 	  
	 	 
	 	/s/ Christopher McCain
	 	Name: Christopher McCain
	 	Title: Chief Legal Officer
	 	 
	 	 
	 	GC VENTURE LH MANAGER, LLC
	 	 
	 	By: General Catalyst Group Management, LLC, its Manager
	 	 
	 	 
	 	/s/ Christopher McCain
	 	Name: Christopher McCain
	 	Title: Chief Legal Officer
	 	 
	 	 
	 	7Wire Ventures LLC
	 	 
	 	 
	 	/s/ Robert Garber
	 	Name: Robert Garber
	 	Title: Partner

  

[Signature Page
to Voting Agreement]Document

AMNEAL PHARMACEUTICALS LLC
SEVERANCE PLAN AND SUMMARY PLAN DESCRIPTION

Introduction
This Amneal Pharmaceuticals LLC Severance Plan (the “Plan”) is established to provide for payment of severance benefits by Amneal Pharmaceuticals LLC (the “Company”) to eligible Participants whose employment with the Company Group (as defined below) is terminated for reasons described under the conditions below. Participants who (i) voluntarily terminate their employment for any reason; (ii) are terminated for Cause, death, or disability; (iii) are temporary employees; (iv) are subject to an individual employment agreement or contract with the Company or any member of the Company Group; or (v) are on the payroll of, or considered an employee of, any Company subsidiary outside the United States are not eligible for any severance benefits pursuant to this Plan (collectively, “Excluded Employees”).
This Plan is effective June 22, 2020.
No employee or representative of the Company is authorized to modify, add to or subtract from these terms and conditions, except in accordance with the amendment and termination procedures set forth below.
This Plan supersedes any prior severance plan, program, or policy, whether oral or written, previously applied by the Company Group or any of its subsidiaries or affiliates to cover the circumstances described in this document.
This document constitutes both the Plan document and the Summary Plan Description for the Plan.
The Plan is intended to constitute an “employee welfare benefit plan” under Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). To the extent not preempted by ERISA or other federal law, the Plan shall be construed, administered and governed under the laws of the State of Delaware, without reference to rules relating to conflicts of law.
A.Eligibility
1.A “Participant” in this Plan means any individual employed for a continuous term of at least 91 days in the United States and paid on the United States payroll by the Company or any of its wholly-owned U.S. subsidiaries (the “Company Group”), but shall not include any Excluded Employees.
2.A “Qualifying Termination” means a Participant’s involuntary termination of employment by a member of the Company Group (or a successor entity) 
1

without Cause determined by the Company in its sole discretion to be a “Qualifying Termination” or as the result of (i) a reduction-in-force; (ii) a layoff; (iii) the elimination of a Participant’s role; (iv) the reorganization of the Company Group, or a business unit, division, or department of the Company Group; (v) a change in business plan or structure, that results in the Participant’s separation from employment; or (vi) a Mandatory Relocation.
a.“Cause” means (i) any failure or neglect by the Participant to perform his or her duties or responsibilities to the Company Group , (ii) any act of fraud, embezzlement, theft, misappropriation, or material dishonesty by the Participant relating to the Company Group or its business or assets, (iii) the Participant’s commission of a felony or other crime involving moral turpitude, (iv) any gross negligence or intentional misconduct on the part of the Participant in the conduct of his or her duties and responsibilities or services, as applicable, with the Company Group or its affiliates or which adversely affects the image, reputation or business of the Company Group or its affiliates, or (v) any material breach by the Participant of any written agreement between the Company Group and the Participant or any written policy applicable generally to employees of the Company Group.
The determination of whether your discharge or other separation from employment is for Cause shall be made by the Plan Administrator, in its sole discretion, and such determination shall be final, conclusive and binding, pursuant to the Plan’s Claims Procedures.
b.A “Mandatory Relocation” means the mandatory relocation of the Participant’s primary workplace to a location that is more than fifty (50) miles from the Participant’s prior primary workplace, provided that within 60 days after written notice by the Company of the proposed relocation, the Participant refuses, in writing, to accept the relocation, and the Company has 30 days to revoke the mandatory relocation, and the Participant terminates employment with the Company Group within 30 days after the expiration of the 30 day cure period.
3.“Change in Control Termination” means a Qualifying Termination that occurs as a direct result of a Change in Control during a Change in Control Protection Period.
a.“Change in Control” shall be deemed to occur upon any of the following events, provided that such an event is a change in control of Amneal Pharmaceuticals, Inc., the parent of Company, or the Company, that meets the definition of a change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation within the meaning of Treasury Regulation Section 1.409A-3(i)(5):
2

i.any “person” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than Amneal Pharmaceuticals, Inc., any trustee or other fiduciary holding securities under any employee benefit plan of Amneal Pharmaceuticals, Inc. or the Company, or any company owned, directly or indirectly, by the stockholders of Amneal Pharmaceuticals, Inc. in substantially the same proportions as their ownership of the common stock), becoming the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Amneal Pharmaceuticals, Inc. representing more than 50% of the combined voting power of Amneal Pharmaceuticals, Inc.’s then outstanding securities; provided, however, excluded from this definition shall be any transaction or occurrence whereby (i) any Person (or group of Persons) who previously was the beneficial owner of more than 50% of the combined voting power of the Company’s outstanding equity securities regaining beneficial ownership of more than 50% of the combined voting power of the Company’s outstanding equity securities, and (ii) any changes among the beneficial owners within the Amneal Group (as defined in the Company’s Stockholders Agreement) of the voting power of the Company’s outstanding equity securities;
ii.during any period of 12 consecutive months the individuals who constitute the Incumbent Board (as defined below) cease for any reason to constitute at least a majority of the Board (as defined below).  The “Board” shall mean, at any given time, the Board of Directors of Amneal Pharmaceuticals, Inc.  The “Incumbent Board” shall mean the Board at the beginning of any 12-month period and any new director whose appointment or election to the Board is approved by a vote of at least two-thirds of the directors then in office who either were directors at the beginning of the 12-month period or whose election or appointment to the Board was previously so approved; provided, however, that “Incumbent Board” shall not include any such individual whose election or appointment to the Board during the 12-month period occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board;
iii.a merger or consolidation of Amneal Pharmaceuticals, Inc. or the Company with any other corporation or other entity, other than a merger or consolidation that would result in the voting securities of Amneal Pharmaceuticals, Inc. or the Company outstanding immediately prior thereto (and held by persons that are not affiliates of the acquirer) continuing to represent (either by 
3

remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of Amneal Pharmaceuticals, Inc. or the Company or such surviving entity outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected to implement a recapitalization of  Amneal Pharmaceuticals, Inc. or the Company (or similar transaction) in which no person (other than those covered by the exceptions in clause (i) above) acquires more than 50% of the combined voting power of the then-outstanding voting securities of Amneal Pharmaceuticals, Inc.  or the Company shall not constitute a Change of Control; or
iv.the consummation of a sale or other disposition by Amneal Pharmaceuticals, Inc. or the Company of all or substantially all of Amneal Pharmaceuticals, Inc.’s or the Company’s assets, including a liquidation, other than the sale or other disposition of all or substantially all of the assets of Amneal Pharmaceuticals, Inc. or the Company to a person or persons who beneficially own, directly or indirectly, more than 50% of the combined voting power of the outstanding voting securities of Amneal Pharmaceuticals, Inc. or Company immediately prior to the time of the sale or other disposition.
b.“Change in Control Protection Period” means 12 month period following the occurrence of a Change of Control.
4.An otherwise eligible Participant shall not receive severance benefits under this Plan unless the Participant timely executes and does not revoke (if applicable) such documents, including a general waiver and release of claims, within sixty (60) days, as the Company Group may deem necessary or appropriate in connection with the payment of such severance benefits and remains employed by the Company in good standing (as determined in the sole discretion of the Plan Administrator) until the Participant’s scheduled date of termination.
5.A Participant who is eligible to participate in another plan, program or policy maintained or offered by a member of the Company Group (or a successor entity) which provides severance benefits, shall receive the best total package of severance benefits provided in this Plan, or another program or arrangement. For any Participant who is party to a written employment agreement or employment offer letter that provides severance benefits (an “Employment Agreement”), the severance provisions of such Employment Agreement shall apply, and no benefits shall be payable under this Plan, unless severance benefits provided in this Plan exceed the amount provided for in the Employment Agreement; in that case, the difference between severance benefits payable under this Plan and payable under the Employment Agreement shall be payable to the Participant in addition to the payments provided by the 
4

Employment Agreement.  For purposes of clarity, in no event shall benefits under this Plan be duplicative with benefits provided under an Employment Agreement, or another severance plan, program or policy.
B.Amount of Payment of Severance Benefits
If the Company determines that a Participant is eligible to receive severance benefits under this Plan, the amount of the severance benefits payable to the Participant generally will be determined as set forth in Appendix A. Participants shall be eligible for severance benefits for one of the following: (i) Qualifying Termination, or (ii) Change in Control Termination. If a Participant is eligible for more than one category of severance benefits, the Participant shall receive the highest level of benefits.
1.Severance Pay
For purposes of determining the amount of cash severance payable pursuant to Appendix A: 
a.“Base Pay” means the following:
i.with respect to a salaried Participant, the regular weekly rate of salary payable to such Participant in effect immediately prior to his or her date of termination; and
ii.with respect to an hourly Participant, an amount equal to (A) such Participant’s straight time hourly wage rate, including shift differentials, if  any, as in effect immediately preceding his or her date of termination, exclusive of overtime, multiplied by (B) the number of such Participant’s standard hours per week.
b.Qualifying Termination
i.Participants are eligible for different amounts of cash severance payments based on their position level at the time of their termination and length of Continuous Service, pursuant to Appendix A.
ii.“Continuous Service” means the Participant’s continuous employment from the date of the Participant’s most recent commencement of employment with the Company Group (excluding the Participant’s previous employment with a company acquired by the Company Group in an asset sale) until his or her date of employment termination.
c.Change in Control Severance
i.Participants who incur a Change in Control Termination are eligible for enhanced Change-in-Control severance benefits if they are employed in a Director-level position or above at the 
5

time of their termination of employment, pursuant to Appendix A.  Change in Control Termination cash severance pay will be determined solely based on Participant’s position level at the time of his or her termination of employment.
d.The amount of cash severance benefits, if any, will be reduced by the Participant’s outstanding loan and cash advance amounts outstanding at the time of his or her termination, to the extent permitted by applicable law.
e.The amount of cash severance benefits will be paid in a single lump sum within 60 days following a Participant’s date of termination, provided that the Participant timely executes and does not revoke a general waiver and release of claims in a document or documents provided by the Company following the Qualifying Termination.
f.If, within the number of weeks for which a Participant receives cash severance (as determined by Appendix A) of his or her actual termination date, a Participant becomes employed by the Company, a member of the Company Group, or any of the successors or assigns of any of them, Participant will be required to repay to the Company that portion of the Severance Pay which relates to the period of time that Participant is re-employed.  For example, a Participant entitled to 10 weeks’ Base Pay who was rehired more than five but fewer than six weeks from the termination date would be required to repay 50% of the Participant’s Severance Pay.  
g.Notwithstanding the date of payment of cash severance benefits, a Participant’s last date of coverage under the Company Group’s medical, dental, and/or vision benefit plans shall be determined in accordance with the applicable benefit plan documents. Notification to the Participant of the Participant’s rights to coverage under COBRA shall be provided to Participant as required by law.
2.Sales Incentive Program (“SIP”), Field Sales Incentive Program (“FSIP”), and the Company’s Annual Incentive Program (as in effect from time to time) (“AIP”) (collectively “Incentive Award”) Severance Benefits
For purposes of determining the amount of Incentive Award Severance benefits payable pursuant to Appendix A:
a.“Target Incentive” means a Participant’s yearly target level cash incentive under the Company’s AIP or SIP, or quarterly target level cash incentive under the Company’s FSIP (or such successor plan(s)), for the avoidance of doubt determined without regard to any reduction in the Participant’s salary or target level.
6

b.Incentive Award Severance Payable in Connection with a Qualifying Termination under the AIP and SIP
a.In the event of a Qualifying Termination on or after April 1 of a given fiscal year, the Participant will receive a prorated portion of his or her yearly target level cash incentive for the fiscal year in which the Participant’s termination of employment occurs. A Participant’s “Prorated AIP or SIP Award” will be determined by multiplying the Participant’s Target Incentive by the proportion of days the Participant actually worked during the fiscal year in which the termination of employment occurs and then multiplying that result by the Company’s Corporate Multiplier as utilized in computation of awards pursuant to the AIP/SIP for the fiscal year in which the Qualifying Termination occurs, up to a maximum of 100% of the Participant’s Target Incentive. For the avoidance of doubt, if the Company does not fund any AIP awards for a given fiscal year, Participants will not receive any Incentive Award Severance and if the Company funds AIP awards over 100% of the Company target, the maximum award is capped at 100% of the Participant’s individual target.  Participants who experience a Qualifying Termination prior to April 1 are not eligible for Incentive Award Severance. 
c.Incentives Payable in Connection with a Qualifying Termination under the FSIP
1.In the event of a Qualifying Termination, the Participant will receive a prorated portion of his or her Target Incentive (the “Prorated FSIP Award”) for the quarter in which the Participant’s termination of employment occurs. The Prorated FSIP Award will be determined by multiplying the Participant’s Target Incentive by the proportion of days the Participant actually worked during the fiscal quarter in which the termination of employment occurs and then multiplying that result by the Territory Results for the Participant’s territory as utilized in computation of employee awards pursuant to the FSIP for the fiscal quarter in which the Qualifying Termination occurs.  
2.Employees eligible for a FSIP Award remain eligible to receive all incentive compensation or payment under any special incentive programs (defined as points, kickers, or contests) earned in the quarter prior to and in the quarter in which the Participant’s termination of employment occurs, payable in the ordinary course and pursuant to Plan provisions.
7

d.Incentives Payable in Connection with Change-in-Control Termination
3.In the event of a Change-in-Control Termination on or after April 1 of a given fiscal year, a Participant with a position level of Director, Senior Director, Vice President, or Senior Vice President at the time of his or her termination of employment will receive a “Prorated Target AIP or SIP Award” determined by multiplying the Participant’s yearly target level cash incentive under the Company’s AIP or SIP, or quarterly target level cash incentive under the Company’s FSIP (or such successor plan), by the proportion of days the Participant actually worked during the applicable time period (i.e., the year or quarter) in which the Participant’s termination of employment occurs.
e.Incentive Award Severance benefits will be paid in a single lump sum on the Company’s normal schedule for paying incentive bonuses (generally March of the following fiscal year), except as required to be paid earlier under applicable law, provided that the Participant timely executes and does not revoke the separation agreement and release as set forth in Section A.6 of this Plan, except as incentives are required to be paid by applicable law without regard to a release.
3.Fully Paid COBRA Premiums
i.The Company Group will fully pay the premium cost (including applicable COBRA administrative fees) for continued group medical, dental, and/or vision coverage during the COBRA Period for the Participant and the Participant’s legal dependents who are participating in such coverages as of a Participant’s termination of employment, provided, in any case, that such Participant properly elects continuation coverage under the Company Group medical, dental, and/or vision plans under Section 4980B of the Code, and the regulations promulgated thereunder (“COBRA”).  Thereafter, the Participant may continue his or her COBRA benefits at the Participant’s own expense, subject to the Participant’s continued eligibility for COBRA continuation coverage.
ii.The “COBRA Period” means, with respect to a Participant, a period beginning on the date of the Participant’s Qualifying Termination (or, if later, date of loss of eligibility under the terms of the Company Group health plan), and continuing until the earliest to occur of (i) the end of the calendar month in which the COBRA Severance Period ends, (ii) the expiration of the Participant’s (or his or her legal dependent’s, as applicable) eligibility for benefits under COBRA, and (iii) such time as the Participant becomes eligible to receive medical benefits under a “group health plan” (within the meaning of COBRA) maintained by a 
8

subsequent employer of the Participant (provided that the Participant is eligible to continue his/her COBRA coverages by paying the full cost of the applicable COBRA premiums after eligibility for such other group health plan until such COBRA coverage is otherwise terminated).
iii.The “COBRA Severance Period” means the period expressed as a number of weeks for which the fully paid COBRA severance is determined pursuant to Appendix A.
4.Outplacement Services
An eligible Participant will receive outplacement and career counseling services provided by a vendor selected by the Company. Outplacement services are available for the period of time set forth on Appendix A.
C.Amendment or Termination of Plan
This Plan may be amended or terminated by the Board or the Plan Administrator, at any time and from time to time, in its sole discretion (provided, that no such amendment or termination shall materially and adversely affect the rights of any Participant who has experienced a Qualifying Termination on or prior to such amendment or termination).
D.General Rules
1.Neither this Plan nor any action taken with respect to it shall confer upon any person the right to continue in the employ of the Company Group, nor are any contractual obligations created.
2.Any entity in the Company Group may cause such amounts to be withheld from payment under this Plan as it determines necessary to fulfill any federal, state, or local wage or compensation withholding requirements and any applicable withholdings required by law.
3.Benefits under this Plan may not be assigned.
4.Although the Company makes no guarantee with respect to the tax treatment of benefits provided under this Plan and shall not be responsible in any event with regard to non-compliance with Code Section 409A and all Treasury Regulations and guidance promulgated thereunder (“Code Section 409A”), to the fullest extent applicable, severance benefits payable under the Plan are intended to be exempt from the definition of “nonqualified deferred compensation” under Code Section 409A in accordance with one or more of the exemptions available under Code Section 409A, including the short-term deferral exception in Treas. Reg. §1.409A-1(b)(4) and the separation pay exception in Treas. Reg. §1.409A-1(b)(9)(iii). To the extent that any benefit payable or provided under this Plan is or becomes subject to Code Section 409A, the Plan shall be interpreted and administered to the maximum extent possible to comply with Code Section 409A. For purposes of any provision of this Plan providing for the payment of any amount 
9

or benefit upon or following a termination of employment that constitutes “nonqualified deferred compensation” under Code Section 409A, a termination of employment shall not be deemed to have occurred unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Plan, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.”
5.Notwithstanding anything herein to the contrary, to the extent that any payments or benefits pursuant to this Plan constitute “nonqualified deferred compensation” under Code Section 409A, and are not exempt in accordance with one or more of the exemptions available under Code Section 409A, including the short-term deferral exception in Treas. Reg. §1.409A-1(b)(4) and the separation pay exception in Treas. Reg. §1.409A-1(b)(9)(iii), if at the time of Participant’s termination of employment with the Company, the Participant is a “specified employee” as defined in Code Section 409A, then the Company will defer the commencement of the payment of any such payments or benefits hereunder, (without any reduction in such payments or benefits ultimately paid or provided to Participant) until the first business day to occur following the date that is six (6) months following Participant’s separation from service with the Company (or the earliest date as is permitted under Code Section 409A).
6.In the event of a Change in Control, the Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) expressly to assume and agree to perform this Plan in the same manner and to the same extent as the Company would be required to perform it if no such succession had taken place. In the event that another severance plan is sponsored by an entity joined with the Company due to a corporate transaction, employees of the Company Group immediately prior to the closing shall continue to participate in this Plan, and not any other severance plan.
E.ERISA Information
The following information is required to be provided to you under ERISA:
						
	OFFICIAL NAME OF THE PLAN:	Amneal Pharmaceuticals LLC Severance Plan, which is a component plan of the Amneal Pharmaceuticals LLC and Subsidiaries Health and Welfare Benefits Plan
	SPONSOR:	Amneal Pharmaceuticals LLC
400 Crossing Boulevard, 3rd Floor Bridgewater, New Jersey 08807

	EMPLOYER IDENTIFICATION NUMBER (EIN):	90-0186021
	PLAN NUMBER:	501
	TYPE OF PLAN:	Unfunded Welfare Severance Benefit Plan
	PLAN YEAR:	Calendar Year
	TYPE OF ADMINISTRATION:	Company Administered
	PLAN ADMINISTRATOR:	Chief Human Resources Officer

F. Plan Administrator
The Plan Administrator has the sole authority and discretion to control and manage the operation and administration of the Plan. The Plan Administrator shall have all of the powers necessary or appropriate to enable it to carry out its duties in connection with 
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the operation and administration of the Plan, including, without limitation thereto, the power to construe the terms of the Plan, to determine eligibility for benefits, make all legal and factual determinations and to make and establish (and thereafter change) rules, regulations and procedures with respect to the operations of the Plan, and shall also have all of the powers elsewhere herein conferred upon it.
Subject to the limitations of applicable law, the Plan Administrator may delegate any and all of its powers and responsibilities hereunder to other persons. The Plan Administrator and its designees shall not be liable for any action or determination made in good faith with respect to the Plan. The Company shall, to the fullest extent permitted by law, indemnify and hold harmless the Plan Administrator (and, if applicable, each member of the committee comprising the Plan Administrator) and each director, officer and employee of the Company for liabilities or expenses that they and each of them incur in carrying out their respective duties under the Plan, other than for any liabilities or expenses arising out of such individual’s willful misconduct or fraud.
The Plan Administrator keeps records of the Plan and is responsible for the administration of the Plan. The Plan Administrator or its designee will also answer any questions you may have about the Plan. Service of legal process may be made upon the Plan Administrator. If the position designated above as Plan Administrator no longer exists or is not filled at any particular time (or the person filling such position is incapacitated), the Company shall appoint another person or position to act as Plan Administrator hereunder.
All severance pay and other benefits under the Plan are paid out of the general assets of the Company. The Plan is not funded and has no assets.
G.Claims Procedure
If you are a Participant in the Plan, you will automatically receive the benefits to which you are entitled under the Plan. If you (or your beneficiary, if applicable) believe you have not been provided with all benefits to which you are entitled under the Plan, you may file a written claim with the Plan Administrator, who is the Chief Human Resources Officer, at Amneal Pharmaceuticals LLC, 400 Crossing Boulevard, 3rd Floor, Bridgewater, NJ 08807; Telephone: 908-947-3138 with respect to your rights to receive benefits from the Plan. You will be informed of the Plan Administrator’s decision with respect to your claim within 90 days after it is filed. Under special circumstances, the Plan Administrator may require an additional period of not more than 90 days to review your claim. If that happens, you will receive a written notice of that fact, which will also indicate the special circumstances requiring the extension of time and the date by which the Plan Administrator expects to make a determination with respect to the claim. If the extension is required due to your failure to submit information necessary to decide the claim, the period for making the determination will be tolled from the date on which the extension notice is sent until the date on which you respond to the Plan’s request for information to the extent required by law.
If a claim is denied in whole or in part, or any adverse benefit determination is made with respect to the claim, you will be provided with a written notice setting forth the 
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reason for the determination, along with specific references to Plan provisions on which the determination is based. This notice will also provide an explanation of what additional information is needed to evaluate the claim (and why such information is necessary), together with an explanation of the Plan’s claims review procedure and the time limits applicable to such procedure, as well as a statement of your right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review.
If your claim has been denied, or an adverse benefit determination has been made, you may request that the Benefits Committee review the denial. The request must be in writing, must be made within 60 days after written notification of denial, and must be sent to the following address: Benefits Committee, c/o Plan Administrator, Amneal Pharmaceuticals LLC, 400 Crossing Boulevard, 3rd Floor, Bridgewater, NJ 08807; Telephone: 908-947-3138. In connection with this request, you (or your duly authorized representative) are entitled to (i) be provided, upon written request and free of charge, with reasonable access to (and copies of) all documents, records, and other information relevant to the claim; and (ii) submit to the Benefits Committee written comments, documents, records, and other information related to the claim.
The review by the Benefits Committee will take into account all comments, documents, records, and other information you submit relating to the claim. The Benefits Committee will make a final written decision on a claim review, in its sole discretion, in most cases within 60 days after receipt of a request for a review. In some cases, the claim may take more time to review, and an additional processing period of up to 60 days may be required. If that happens, you will receive a written notice of that fact, which will also indicate the special circumstances requiring the extension of time and the date by which the Benefits Committee expects to make a determination with respect to the claim. If the extension is required due to your failure to submit information necessary to decide the claim, the period for making the determination will be tolled from the date on which the extension notice is sent to you until the date on which you respond to the Plan’s request for information to the extent required by law.
The Benefits Committee’s decision on the claim for review will be communicated to you in writing. If an adverse benefit determination is made with respect to the claim, the notice will include: (i) the specific reason(s) for any adverse benefit determination, with references to the specific Plan provisions on which the determination is based; (ii) a statement that you are entitled to receive, upon request and free of charge, reasonable access to (and copies of) all documents, records and other information relevant to the claim; and (iii) a statement of your right to bring a civil action under Section 502(a) of ERISA. The decision of the Benefits Committee is final, conclusive and binding on all parties.
The foregoing procedures must be exhausted before you bring a legal action seeking payment of benefits under the Plan, clarification of a right to future benefits under the Plan, or enforcement of rights under the Plan’s terms. In addition, you may not bring such a legal action more than 180 days after your receipt of the notice of decision on your request for review.
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H.ERISA Rights
As a Participant in the Plan you are entitled to certain rights and protections under ERISA. ERISA provides that all Plan participants shall be entitled to:
Receive Information About Your Plan and Benefits
•Examine, without charge, at the Plan Administrator’s office and at other specified locations, such as worksites, all documents governing the Plan, including a copy of the latest annual report (Form 5500 Series), if any, filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.
•Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan, including copies of the latest annual report (Form 5500 Series), if any, and an updated summary plan description. The Plan Administrator may make a reasonable charge for the copies.
•Receive a summary of the Plan’s annual financial report (if any). The Plan Administrator is required by law to furnish each participant with a copy of any summary annual report.
Prudent Actions by Plan Fiduciaries
In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a welfare benefit or exercising your rights under ERISA. 
Enforce Your Rights
If your claim for a benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules.
Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the latest annual report, if any, from the Plan and do not receive them within 30 days, you may file suit in a Federal court. In such a case, the court may require the Plan Administrator to provide materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court subsequent to exhausting the Plan’s claims procedures. If you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a Federal court. The court will decide who should pay court costs and legal fees. If you are successful the court may order the 
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person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous.
Assistance with Your Questions

If you have any questions about the Plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

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Appendix A
Qualifying Termination Severance Benefit Schedule
																					
	Corporate Level	Base Salary Severance			Incentive Award Severance	Subsidized COBRA Benefits	Outplacement Services
		Formula	Minimum	Maximum			
	Hourly	As provided in this table, the minimum amount of severance plus 2 weeks of Base Pay for every full year of Continuous Service up to the maximum amount of severance indicated.	6 weeks of Base Pay	26 weeks of Base Pay

	Prorated AIP or SIP Award	4 weeks	
	Professional					8 weeks	
	Supervisor						
	Manager		8 weeks of Base Pay			13 weeks	
	Sr. Manager		10 weeks of Base Pay				
	Associate Director						
	Director		13 weeks of Base Pay			Equal to the number of weeks of Base Salary Severance

	
	Sr. Director		17 weeks of Base Pay	39 weeks of Base Pay			
	VP		26 weeks of Base Pay	52 weeks of Base Pay			
	SVP	52 weeks of Base Pay					

Change in Control Termination Severance Benefit Schedule
															
	Corporate Level	Base Salary Severance	Incentive Award Severance	Fully Subsidized COBRA Benefits	Outplacement Services
	Director	26 weeks of 
Base Pay
	Prorated Target AIP or SIP Award	Equal to the number of weeks of Base Salary Severance	
	Sr. Director	39 weeks of 
Base Pay
			
	VP	52 weeks of Base Pay			
	SVP	64 weeks of Base Pay			

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