Document:

pf17591936-ex4_1.htm

    EXHIBIT 4.1

     

    EIGHTH SUPPLEMENTAL INDENTURE,
dated as of October 30, 2009 (this “Eighth Supplemental
Indenture”), between WYETH, a Delaware corporation
(as successor to American Home Products Corporation) (the “Issuer”), Pfizer Inc., a
Delaware corporation (“Pfizer”) and THE BANK OF NEW YORK MELLON (as successor to JPMORGAN CHASE BANK), a
banking corporation duly organized and existing under the laws of the State of
New York, as trustee (the “Trustee”).

     

    W
I T N E S S E T H

     

    WHEREAS, the Issuer and the
Trustee have duly executed and delivered an Indenture, dated as of
April 10, 1992 (as amended on October 13, 1992, the “Indenture”), providing for the
authentication, issuance, delivery and administration of unsecured debentures,
notes or other evidences of indebtedness to be issued in one or more series by
the Issuer (the “Securities”);

     

    WHEREAS,
the Issuer is a wholly-owned subsidiary of Pfizer;

     

    WHEREAS,
the Board of Directors of Pfizer has determined it to be in the best interest of
Pfizer to guarantee all of Issuer’s payment obligations under the Securities and
the Indenture;

     

    WHEREAS,
Issuer desires to execute and deliver this Eighth Supplemental Indenture in
order to amend certain terms of the Indenture (collectively, the “Proposed
Amendments”);

     

    WHEREAS, Section 8.2 of the
Indenture expressly permits the Issuer and the Trustee to enter into one or more
supplemental indentures with the consent of the Holders of at least a majority
in aggregate principle amount of the then outstanding Securities of all Series
affected thereby (the “Required
Consent”);

     

    WHEREAS,
the Issuer has obtained the Required Consent;

     

    WHEREAS, for the purposes
hereinabove recited, and pursuant to due corporate action, the Issuer has duly
determined to execute and deliver to the Trustee this Eighth Supplemental
Indenture; and

     

    WHEREAS, all conditions and
requirements necessary to make this Eighth Supplemental Indenture a valid, legal
and binding instrument in accordance with its terms have been done and
performed, and the execution and delivery hereof have been in all respects duly
authorized;

     

    NOW, THEREFORE, in
consideration of the premises, the Issuer and the Trustee mutually covenant and
agree as follows:

     

    Section
1. Definitions.

     

      (a)  All
terms contained in this Eighth Supplemental Indenture shall, except as
specifically provided herein or except as the context may otherwise require,
have the meanings given to such terms in the Indenture.

     

    Section
2. Amendments.

     

    (a) Amendment to Section 1.1 of
the Indenture.  Section 1.1 (Certain Terms Defined) of the
Indenture is hereby amended by adding the following definitions:

    

    “Debt” of
any person means (a) all obligations of such person for borrowed money, or
evidenced by bonds, debentures, notes or other similar instruments (other than
any such obligations to the extent that (i) the liability of such person is
limited solely to the property or asset financed by such obligations or
(ii) such obligations result from the requirement to return collateral
posted to such person by a counterparty pursuant to one or more hedging
contracts or other similar risk management contracts) and (b) all Debt of
others guaranteed by such person.

    

    “Equity
Interests” means shares of capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or
other equity ownership interests in a person, and any warrants, options or other
rights entitling the holder thereof to purchase or acquire any such equity
interests.

    

    “General
Subsidiary” means, with respect to any person, any corporation, partnership,
limited liability company or other business entity of which at least a majority
of the outstanding shares of Voting Stock is at the time directly or indirectly
owned or controlled by such person or one or more of the Subsidiaries of such
person.

    

    “Manufacturing
Facility” means property, plant and equipment used for actual manufacturing and
for activities directly related to manufacturing such as quality assurance,
engineering, maintenance, staging areas for work in process administration,
employees, eating and comfort facilities and manufacturing administration, and
excludes sales offices, research facilities and facilities used only for
warehousing, distribution or general administration.

    

    “Permitted
Liens” means:

    

    (a) Pfizer Liens existing on the date
hereof or Pfizer Liens existing on Manufacturing Facilities of any person at the
time it becomes a General Subsidiary of Pfizer;

    

    (b) Pfizer Liens existing on
Manufacturing Facilities when acquired, or incurred to finance the purchase
price, construction or improvement thereof;

    

    (c) any Pfizer Lien arising by reason of
deposits with, or the giving of any form of security to, any governmental agency
or any body created or approved by law or governmental
regulation;

    

    (d) Pfizer Liens securing Debt of a General
Subsidiary of Pfizer owed to Pfizer or another General Subsidiary of
Pfizer;

    

    (e) extensions, renewals or replacements in
whole or part of any Pfizer Lien referred to in clauses (a) through (d);
and

    

    (f) Pfizer Liens on any
Restricted Property not described in clauses (a) through (e) above securing
Debt that, together with (i) the aggregate amount of all other outstanding
Debt secured by all other Pfizer Liens on Restricted Property not described in
clauses (a) through (e) above and (ii) the aggregate amount of Value
in respect of all Pfizer Sale and Leaseback Transactions that would otherwise be
prohibited by Section 3.7 hereof, do not exceed 15% of Pfizer Consolidated Net
Tangible Assets measured as of the end of the most recent quarter for which
financial statements are available.

    

    “Pfizer”
shall mean Pfizer Inc., a Delaware corporation.

    

    “Pfizer
Consolidated Net Tangible Assets” means the total amount of assets (less
applicable reserves and other properly deductible items) after deducting (1) all
current liabilities (excluding the amount of those which are by their terms
extendable or renewable at the option of the obligor to a date more than 12
months after the date as of which the amount is being determined) and
(2) all goodwill, tradenames, trademarks, patents, unamortized debt
discount and expense and other like intangible assets, all as set forth on the
most recent balance sheet of Pfizer and its consolidated subsidiaries and
determined in accordance with generally accepted accounting
principles.

    

    “Pfizer
Lien” means, with respect to any property of any person, any mortgage or deed of
trust, pledge, hypothecation, assignment, deposit arrangement, security
interest, lien, charge, easement (other than any easement not materially
impairing usefulness or marketability), encumbrance, preference, priority or
other security agreement or preferential arrangement of any kind or nature
whatsoever on or with respect to such property.

    

    “Pfizer
Sale and Leaseback Transaction” means any direct or indirect arrangement
relating to property now owned or hereafter acquired whereby Pfizer or a General
Subsidiary of Pfizer transfers such property to another person and Pfizer or a
General Subsidiary of Pfizer leases or rents it from such person (other than (1)
leases between Pfizer and a General Subsidiary of Pfizer or between General
Subsidiaries and (2) temporary leases for a term, including renewals at the
option of the lessee, of not more than three years).

    

    “Restricted
Property” means:

    

    (a) any Manufacturing Facility (or portion
thereof) owned or leased by Pfizer or any General Subsidiary of Pfizer and
located within the continental United States that, in the good faith opinion of
Pfizer’s Board of Directors (or a committee thereof), is of material importance
to Pfizer’s business taken as a whole, but no such Manufacturing Facility (or
portion thereof) shall be deemed of material importance if its gross book value
of property, plant and equipment (before deducting accumulated depreciation) is
less than 2% of Pfizer Consolidated Net Tangible Assets measured as of the end
of the most recent quarter for which financial statements are available,
or

    

    (b) any Equity Interests of any General
Subsidiary of Pfizer owning a Manufacturing Facility (or a portion thereof)
covered by clause (a).

    

    “Value”
means, with respect to a Pfizer Sale and Leaseback Transaction, an amount equal
to the present value of the lease payments with respect to the term of the lease
remaining on the date as of which the amount is being determined, without regard
to any renewal or extension options contained in the lease, discounted at the
weighted average interest rate of all series of Securities issued pursuant to
the Indenture and having the benefit of the covenants set forth in Sections 3.6
and 3.7 herein (including the effective interest rate of any original issue
discount Securities) which are outstanding on the date of such Pfizer Sale and
Leaseback Transaction.

    

    “Voting
Stock” means Equity Interests of any person having ordinary power to vote in the
election of members of the board of directors, managers, trustees or other
controlling persons, of such person (irrespective of whether, at the time,
Equity Interests of any other class or classes of such entity shall have or
might have voting power by reason of the happening of a
contingency).

     

    (b) Amendment to Section 3.5 of
the Indenture.  Section 3.5 (Written Statement to Trustee) of
the Indenture is hereby amended by (i) deleting “commencing March 31, 1993” and
(ii) inserting “on or before June 1 of each calendar year”.

     

    (c) Amendment to Section 3.6 of
the Indenture.  Section 3.6 (Limitation on Liens) of the
Indenture is hereby amended by adding the following text to the end
thereof:

    

    “(d)           Notwithstanding
the provisions of paragraphs (a), (b) and (c) of this Section 3.6, from and
after the earlier of (i) March 8, 2010, (ii) the termination of the 364-Day
Revolving Credit Loan Agreement, dated as of March 9, 2009 among Pfizer, the
lenders party thereto from time to time and Citibank, N.A. as administrative
agent (the “Pfizer Revolving Credit Facility”) and (iii) an amendment to the
Pfizer Revolving Credit Facility that would permit the effectiveness of the
following provision, paragraphs (a), (b) and (c) of this Section 3.6 shall be
null and void and the following provision shall become effective:

    

    (i) Pfizer shall not, and shall not
permit any General Subsidiary of Pfizer to, create, assume or suffer to exist
any Pfizer Lien (an “Initial Lien”), other than Permitted Liens, on any
Restricted Property to secure any Debt of Pfizer or any General Subsidiary of
Pfizer unless it has made or will make effective provision whereby the
Securities and the Pfizer Guarantee of any other series of Securities issued
pursuant to the Indenture and having the benefit of this covenant, will be
secured by such Lien equally and ratably with (or prior to) all other Debt
secured by such Lien; provided that such Lien will be automatically released and
discharged upon the release and discharge of the applicable Initial
Lien.”

     

    (d) Amendment to Section 3.7 of
the Indenture.  Section 3.7 (Limitation on Sale and Lease-Back)
of the Indenture is hereby amended by adding the following text to the end
thereof:

    

    “(c)           Notwithstanding
the provisions of paragraphs (a) and (b) of this Section 3.7, from and after the
earlier of (i) March 8, 2010, (ii) the termination of the Pfizer Revolving
Credit Facility and (iii) an amendment to the Pfizer Revolving Credit Facility
that would permit the effectiveness of the following provision, paragraphs (a)
and (b) of this Section 3.7 shall be null and void and the following provision
shall become effective:

    

                          (i)
Pfizer shall not, and shall not permit any General Subsidiary of Pfizer to,
enter into any Pfizer Sale and Leaseback Transaction covering any Restricted
Property unless:

    

                                    (1)
pursuant to Section 3.6 herein, Pfizer would be entitled to incur Debt secured
by a Pfizer Lien on such Restricted Property in a principal amount equal to the
Value of such Pfizer Sale and Leaseback Transaction without equally and ratably
securing the Securities of any series issued pursuant to the Indenture and
having the benefit of this covenant; or

    

                                    (2)
Pfizer or any General Subsidiary of Pfizer, during the six months following the
effective date of the Pfizer Sale and Leaseback Transaction, applies an amount
equal to the Value of such Pfizer Sale and Leaseback Transaction to the
voluntary retirement of long-term Debt of Pfizer or any General Subsidiary of
Pfizer or to the acquisition of one or more Restricted Properties.”

     

    (e) Amendment to Section 3.8 of
the Indenture.  Section 3.8 (Luxembourg Publications) of the
Indenture is hereby deleted in its entirety and replaced with
“[RESERVED]”.

     

    (f) Amendment to Section 4.2 of
the Indenture.  Section 4.2 (Reports by the Issuer) of the
Indenture is hereby amended and replaced in its entirety by the following
text:

    

    “Section 4.2. Reports by Pfizer.
Pfizer or its successor shall file with the Trustee, within 15 days after Pfizer
or its successor is required to file the same with the Commission, copies of the
annual reports and of the information, documents and other reports that Pfizer
or its successor may be required to file with the Commission pursuant to Section
13 or Section 15(d) of the Securities Exchange Act of 1934 or pursuant to
Section 314 of the Trust Indenture Act of 1939.”

     

    (g) Amendment to Section 5.1(a)
of the Indenture.  Section 5.1(a) (Event of Default Defined;
Acceleration of Maturity; Waiver of Default) of the Indenture is hereby amended
by replacing “30 days” with “sixty (60) days.”

     

    (h) Amendment to Section 9.1 of
the Indenture.  Section 9.1 (Issuer May Consolidate, etc., on
Certain Terms) of the Indenture is hereby amended and replaced in its entirety
by the following text:

    

    “Section 9.1. Issuer May Consolidate,
etc., on Certain Terms

    

    (a) Notwithstanding anything to the
contrary set forth in this Indenture, from and after the receipt by the Trustee
of an unconditional and irrevocable guarantee of the prompt payment, when due,
of any amount owed to the holders of the Securities under this Indenture and any
other amounts due pursuant to this Indenture by Pfizer or any of its successors,
nothing in this Indenture or in any of the Securities or any supplemental
indenture shall be deemed to prohibit or in any way limit any transaction (or
conversion of legal status to a limited liability company) involving the Issuer,
including without limitation any consolidation, merger, sale or
conveyance.  At any time, Pfizer or any of its successors, may succeed
to and be substituted for the Issuer by supplemental indenture, with the same
effect as if it had been named herein as the Issuer, and the predecessor Issuer
shall thereupon be released from all obligations under the Indenture and under
the Securities.

    

    (b) Nothing contained in this Indenture
shall prevent any consolidation or merger of Pfizer with or into any other
person or persons (whether or not affiliated with Pfizer), or successive
consolidations or mergers in which Pfizer or its successor shall be a party or
parties, or shall prevent any conveyance or transfer of the properties and
assets of Pfizer as an entirety or substantially as an entirety to any other
person (whether or not affiliated with Pfizer) lawfully entitled to acquire the
same; provided, however, Pfizer covenants and agrees that upon any such
consolidation, merger, conveyance or transfer, the due and punctual performance
and observance of all of the covenants and conditions of the Pfizer Guarantee to
be performed by Pfizer and any obligations of Pfizer under this Indenture, shall
be expressly assumed by supplemental indenture, in form reasonably satisfactory
to the Trustee, executed and delivered to the Trustee by the person (if other
than Pfizer) formed by such consolidation, or into which Pfizer shall have been
merged, or by the person which shall have acquired such properties and
assets.

    

    Section
3. Guarantee.  Pfizer
hereby makes the guarantee contained in the form attached to Appendix A hereto
with respect to the obligations and liabilities of the Issuer under the
Securities and the Indenture. For the avoidance of doubt, Appendix A is
incorporated into this Supplemental Indenture in its entirety and forms a part
hereof.

    

    Section
4. Pfizer as a Party.
Pfizer hereby becomes a party to the Indenture solely with respect to its
obligations under (i) Sections 3.6, 3.7, 4.2 and 9.1 of the Indenture and (ii)
Section 3 of the Eighth Supplemental Indenture.

     

    Section
5. Amendments to
Securities.

     

      The
Securities are hereby deemed to be amended, mutatis mutandis, to correspond to
the amendments to the Indenture set forth in this Eighth Supplemental
Indenture.

     

    Section
6. Separability
Clause.

     

      In
case any provision in this Eighth Supplemental Indenture shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired
thereby.

     

    Section
7. Miscellaneous.

     

    (a) Ratification of
Indenture.  The Indenture, as amended and supplemented by this
Eighth Supplemental Indenture, is in all respects ratified and confirmed, and
this Eighth Supplemental Indenture shall be deemed a part of the Indenture in
the manner and to the extent herein and therein provided.

     

    (b) GOVERNING
LAW.  THIS EIGHTH SUPPLEMENTAL INDENTURE, AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES UNDER THIS EIGHTH SUPPLEMENTAL INDENTURE SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK.

     

    (c) Counterparts.  This
Eighth Supplemental Indenture may be executed in several counterparts, each of
which shall be an original, and all collectively but one and the same
instrument.

     

    (d) The
Trustee.  The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Eighth
Supplemental Indenture or for or in respect of the recitals contained herein,
all of which are made solely by the Issuer.

     

    (e) Notice to the
Trustee.  Any notice, direction, request or demand by the
Issuer or any Holder of Securities or Coupons to or upon the Trustee shall be
deemed to have been sufficiently given or served by being deposited postage
prepaid, first-class mail (except as otherwise specifically provided in the
Indenture) addressed to The Bank of New York Mellon, 101 Barclay Street, 8W, New
York, New York 10286, Attention: Corporate Trust, Facsimile
212-815-5704.

     

    [Remainder
of Page Blank — Signature Pages Follow]

    

     

    
      
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Eighth Supplemental
Indenture to be executed as of the date first above written.

     

    
    

     

    
      	 	 WYETH, as
      Issuer
	 	 	 
	 	 By:	 /s/ Richard Passov
	 	 	 Name: Richard
      Passov
	 	 	 Title:   Vice
      President and Treasurer
	 	 	 
	 	 	 
	 	 PFIZER, as Guarantor and
      solely with respect to Sections 3.6, 3.7, 4.2 and 9.1 of the
      Indenture
	 	 	 
	 	 By:	 /s/ Richard
      Passov
	 	 	 Name: Richard
      Passov
	 	 	 Title:   Senior
      Vice President and Treasurer
	 	 	 
	 	 	 
	 	 THE BANK OF NEW YORK
      MELLON, as Trustee
	 	 	 
	 	 By:	 /s/ Francine Kincaid
	 	 	 Name: Francine
      Kincaid
	 	 	 Title:   Vice
      President

    

     

    [Signature Page to Eighth Supplemental
Indenture]

    
       

      
        
        

        
          

        

      

       

    

    
    

    
      APPENDIX
A

    

    FORM
OF GUARANTEE OF PFIZER INC.

     

    GUARANTEE,
dated as of October 30, 2009, by Pfizer Inc., a Delaware corporation (the “Guarantor”),
in respect of Wyeth, a Delaware corporation (together with its permitted
assigns, “Wyeth”).

     

    1.           Guarantee.  With
respect to the 6.700% Notes due 2011 (CUSIP No. 026609AM); 6.700% Notes due 2011
(CUSIP No. 026609AJ); 5.250% Notes due 2013 (CUSIP No. 983024AA); 5.500% Notes
due 2014 (CUSIP No. 983024AE); 5.500% Notes due 2016 (CUSIP No. 983024AJ);
5.450% Notes due 2017 (CUSIP No. 983024AM); 7.250% Notes due 2023 (CUSIP No.
026609AC); 6.450% Notes due 2024 (CUSIP No. 983024AF); 6.500% Notes due 2034
(CUSIP No. 983024AG); 6.000% Notes due 2036 (CUSIP No. 983024AL); and 5.950%
Notes due 2037 (CUSIP No. 983024AN) (collectively, the “Notes”),
all issued by Wyeth pursuant to an indenture dated April 10, 1992 (the “Indenture”), by and among Wyeth, as
successor to American Home Products Corporation, and The Bank of New York
Mellon, as successor to Manufacturers Hanover Trust Company, as trustee (“Trustee”),
the Guarantor unconditionally and irrevocably guarantees the prompt payment,
when due, of any amount owed to the holders of the Notes under the Indenture and
any other amounts due pursuant to the Indenture (the “Obligations”).

     

    2.           Nature of
Guarantee.  The Guarantor’s obligations hereunder shall not be
affected by any circumstance relating to the Obligations that might otherwise
constitute a legal or equitable discharge of or defense to the
Guarantor.  The Guarantor agrees that Trustee or the holders of the
Notes may resort to the Guarantor for payment of any of the Obligations whether
or not Trustee or the holders of the Notes shall have first proceeded against
Wyeth or any other obligor principally or secondarily obligated with respect to
the Obligations.  Trustee or the holders of the Notes shall not be
obligated to file any claim relating to the Obligations in the event that Wyeth
becomes subject to a bankruptcy, reorganization or similar proceeding, and the
failure of Trustee or the holders of the Notes to so file shall not affect the
Guarantor’s obligations hereunder.  In the event that any payment to
Trustee or the holders of the Notes in respect of the Obligations is rescinded
or must otherwise be returned for any reason whatsoever, the Guarantor shall
remain liable hereunder with respect to such Obligations as if such payment had
not been made.

     

    3.           Changes in Obligations, and
Agreements Relating thereto; Waiver of Certain Notices.  The
Guarantor agrees that Trustee or the holders of the Notes may at any time and
from time to time, either before or after the maturity thereof, without notice
to or further consent of the Guarantor, extend the time of payment of, or renew
all or any part of the Obligations, and may also make any agreement with Wyeth
for the extension, renewal, payment, compromise, discharge or release thereof,
in whole or in part, or for any modification of the terms thereof or of any
agreement between Trustee or the holders of the Notes and Wyeth, without in any
way impairing or affecting this Guarantee.  The Guarantor waives
notice of the acceptance of this Guarantee and of the Obligations, presentment,
demand for payment, notice of dishonor and protest.

     

    4.           Expenses.  The
Guarantor agrees to pay on demand all reasonable fees and out-of-pocket expenses
(including the reasonable fees and expenses of one firm of counsel representing
Trustee or the holders of the Notes) in any way relating to the enforcement or
protection of the rights of Trustee or the holders of the Notes hereunder,
provided that the Guarantor shall not be liable for any expenses of Trustee or
the holders of the Notes if no payment under this Guarantee is due.

     

    5.           Subrogation.  Upon
payment of the Obligations to Trustee or the holders of the Notes in full, the
Guarantor shall be subrogated to the rights of Trustee or the holders of the
Notes against Wyeth with respect to the Obligations, and Trustee or the holders
of the Notes agrees to take at the Guarantor’s expense such steps as the
Guarantor may reasonably request to implement such subrogation.

     

    6.           No Waiver; Cumulative
Rights.  No failure on the part of Trustee or the holders of
the Notes to exercise, and no delay in exercising, any right, remedy or power
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise by Trustee or the holders of the Notes of any right, remedy or power
hereunder preclude any other or further exercise of any right, remedy or
power.  Each and every right, remedy and power hereby granted to
Trustee and the holders of the Notes or allowed it or them by law or in equity
or other agreement shall be cumulative and not exclusive of any other, and may
be exercised by Trustee or the holders of the Notes at any time or from time to
time.

     

    7.           Assignment.  Nothing
contained in this Guarantee shall prevent any consolidation or merger of
Guarantor with or into any other person (whether or not affiliated with the
Guarantor), or successive consolidations or mergers in which Guarantor or its
successor shall be a party or parties, or shall prevent any conveyance or
transfer of the properties and assets of Guarantor as an entirety or
substantially as an entirety to any other person (whether or not affiliated with
Guarantor) lawfully entitled to acquire the same; provided, however, that upon
any such consolidation, merger, conveyance or transfer, the due and punctual
performance and observance of all of the covenants and conditions of the
Guarantee to be performed by Guarantor, shall be expressly assumed, in form
reasonably satisfactory to the Trustee, executed and delivered to the Trustee by
the person (if other than the Guarantor) formed by such consolidation, or into
which Guarantor shall have been merged, or by the person which shall have
acquired such properties and assets.

     

    8.           Notices.  All
notices to or demands on the Guarantor shall be deemed effective when received,
shall be in writing and shall be delivered by hand or by registered mail (or
similar type mail), or by facsimile transmission promptly confirmed by
registered mail (or similar type mail), addressed to the Guarantor
at:

     

    
      	
               
      

            	
              Pfizer
      Inc.

            

    

    
      	
               
      

            	
              Director
      of Treasury Planning

            

    

    
      	
               
      

            	
              235
      East 42nd Street

            

    

    
      	
               
      

            	
              New
      York, New York 10017-5755

            

    

    
      	
               
      

            	
              Tel:  (212)-733-2342

            

    

    
      	
               
      

            	
              Fax:  (212) 573-1133

            

    

     

    
      	
               
      

            	
              with
      a copy to:

            

    

     

    
      	
               
      

            	
              Pfizer
      Inc.

            

    

    
      	
               
      

            	
              Chief
      Counsel- Corporate Governance

            

    

    
      	
               
      

            	
              235
      East 42nd Street

            

    

    
      	
               
      

            	
              New
      York, New York 10017-5755

            

    

    
      	
               
      

            	
              Tel:  (212)
      733-7513

            

    

    
      	
               
      

            	
              Fax:  (212) 573-1133

            

    

     

    or to
such other address or fax number as the Guarantor shall have notified Trustee in
a written notice delivered to Trustee at the address or facsimile number
specified in the indenture.

     

    9.           Continuing
Guarantee.  This Guarantee shall remain in full force and
effect and shall be binding on the Guarantor, its successors and assigns until
all of the Obligations have been satisfied in full.

     

    10.           Representations and
Warranties.  The Guarantor represents and warrants
that:  (i) this Guarantee has been duly executed and delivered by
the Guarantor and constitutes a valid and legally binding obligation of the
Guarantor enforceable in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors’ rights generally and subject to
general principles of equity, (ii) no consent or approval of any person,
entity or governmental or regulatory authority, or of any securities exchange or
self-regulatory organization, was or is necessary in connection with this
Guarantee and (iii) the execution and delivery of this Guarantee by the
Guarantor and the performance by the Guarantor of its obligations hereunder do
not violate or conflict with any law applicable to it, any provision of its
constitutive documents, any order or judgment of any court or other agency of
government applicable to it or any of its assets or any contractual provision
binding on or affecting it or any of its assets, in any manner that could
reasonably be expected to impair its ability to perform its obligations
hereunder.

     

    11.           Governing Law, This
Guarantee shall be governed by and construed in accordance with the laws of the
State of New York without regard to principles of conflicts of
laws.

     

    
       

      
        
          

        

      

       

    

    IN
WITNESS WHEREOF, this Guarantee has been duly executed and delivered by the
Guarantor as of the date first above written.

     

    
      	
            	
              PFIZER
      INC.

            
	 	 	 
	 	 	 
	 	 By:	 
	 	 	 Name:
    
	 	 	 Title:ex4_3.htm

Exhibit 4.3

CONMED CORPORATION

AMENDED AND RESTATED 1999 LONG-TERM INCENTIVE PLAN

	
Article 1.
	
PURPOSE.

The purpose of the Amended and Restated 1999 Long-Term Incentive Plan of CONMED Corporation (the “Plan”) is to promote the long term financial interests of CONMED Corporation (the “Company”), including its growth and performance, by encouraging employees of the Company and its subsidiaries and consultants who provide
important services to the Company and its subsidiaries to acquire an ownership position in the Company, enhancing the ability of the Company and its subsidiaries to attract and retain employees and consultants of outstanding ability, and providing employees and consultants with an interest in the Company parallel to that of the Company’s stockholders.  To achieve these purposes, the Company may grant Awards of options, restricted shares, restricted share units, stock appreciation rights, performance
shares, performance share units and other equity-based awards to key employees and consultants selected by the Compensation Committee, all in accordance with the terms and conditions set forth in the Plan.

The Plan was originally adopted by the Board of Directors of CONMED Corporation on March 3, 1999 as The CONMED Corporation 1999 Long-Term Incentive Plan, and was approved by the stockholders of CONMED Corporation on May 18, 1999.  The Plan expired on December 31, 2008, and was further amended and restated effective as of February
24, 2009.

The amendments made to the Plan shall affect only Awards granted on or after the “Effective Date” (as hereinafter defined).  Awards granted prior to the Effective Date shall be governed by the terms of the Plan and Award Agreements as in effect prior to the Effective
Date.  The terms of the Amended and Restated Plan are not intended to affect the interpretation of the terms of the Plan as they existed prior to the Effective Date.

	
Article 2.
	
DEFINITIONS.  The following definitions are applicable to the Plan:

 

	
2.1
	
“Award” shall mean an award determined in accordance with the terms of the Plan.

 

	
2.2
	
“Award Agreement” shall mean the agreement evidencing an Award as described in Section 12.1 of the Plan.

 

	
2.3
	
“Board of Directors” shall mean the Board of Directors of the Company.

 

	
2.4
	
“Committee” shall mean the Compensation Committee of the Board of Directors, or such other committee of the Board as the Board may select from time to time to administer the Plan pursuant to Section 4.  The Committee shall be composed of not less than two directors of the Company.  The Board of Directors may also appoint
one or more directors as alternate members of the Committee.  No officer or employee of the Company or of any subsidiary shall be a member or alternate member of the Committee.  The Committee shall at all times be comprised solely of “outside directors” within the meaning of Section 162(m) of the Internal Revenue Code and in such a manner as to satisfy the “non-employee” director standard contained in Rule 16b-3 promulgated under the Exchange Act.

 

	
2.5
	
“Common Stock” shall mean the common stock, par value $.01 per share, of the Company.

 

	
2.6
	
“Covered Employee” means, at the time of an Award (or such other time as required or permitted by Section 162(m) of the Internal Revenue Code) (i) the Company’s Chief Executive Officer (or an individual acting in such capacity), (ii) any employee of the Company or its subsidiaries who, in the discretion of the

  

E-1

  

Exhibit 4.3

 

 

Committee for purposes of determining those employees who are “covered employees” under Section 162(m) of the Internal Revenue Code, is likely to be among the four other highest compensated officers of the Company for the year in which an Award is made or payable, and (iii) any other employee of the Company or its subsidiaries
designated by the Committee in its discretion.

	
2.7
	
“Effective Date” means the date the Plan is approved by the stockholders of CONMED Corporation.

 

	
2.8
	
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

	
2.9
	
“Fair Market Value” shall mean, per share of Common Stock, the closing price of the Common Stock on the Nasdaq Stock Market or, if applicable, principal securities exchange on which the shares of Common Stock are then traded, or, if not traded, the price set by the Committee.

 

	
2.10
	
“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended.

 

	
2.11
	
“Participant” shall mean an employee of the Company or any subsidiary or a consultant who is party to a consulting agreement with the Company or any subsidiary, in each case who is selected by the Committee to participate in the Plan.

 

	
Article 3.
	
SHARES SUBJECT TO THE PLAN.  

 

	
3.1
	
Subject to adjustment as provided in Section 17 of the Plan, the number of shares of Common Stock which shall be available for the grant of Awards under the Plan shall be equal to the number of shares available for grant under the 1999 Long-Term Incentive Plan, plus an additional 1,000,000 shares.  Notwithstanding anything contained herein to the contrary, in no event shall more than 600,000 shares of Common
Stock (subject to adjustment as provided in Section 17 of this Plan) be available in the aggregate for the issuance of Common Stock pursuant to performance shares, performance share units, restricted shares, restricted share units and other equity-based awards granted under the Plan.  The shares of Common Stock issued under the Plan may be authorized and unissued shares, treasury shares or shares acquired in the open market specifically for distribution under the Plan, as the Company may from time to
time determine.  The maximum number of shares with respect to which stock options or stock appreciation rights may be granted to an individual in any calendar year is 200,000 shares of Common Stock.  The maximum number of shares of Common Stock with respect to which restricted stock, restricted stock units, performance shares performance share units or other equity-based awards that, in each case, are intended to qualify as performance-based compensation under Section 162(m) of the Code may
be granted to an individual grantee in any calendar year is 200,000 shares of Common Stock (or, to the extent that such Award is paid in cash, the maximum dollar amount of any such Award is the equivalent cash value of such number of shares of Common Stock at the closing price on the last trading day of the performance period), subject to adjustment pursuant to Section 17.  For purposes of the immediately preceding sentence, “trading day” shall mean a day in which the shares of Common Stock
are traded on the Nasdaq Stock Market or, if applicable, the principal securities exchange on which the shares of Common Stock are then traded.

 

	
3.2
	
If any Award under the Plan, in whole or in part, expires unexercised, is forfeited or otherwise terminates or is canceled without the delivery of shares of Common Stock, if shares of Common Stock are surrendered or withheld from any Award to satisfy a Participant’s income tax or other withholding obligations, or if shares of Common Stock owned by the Participant are tendered to pay for the exercise of a stock
option under the Plan, then those shares covered by such expired, forfeited, terminated or canceled Awards or the number of shares equal to the number of shares surrendered or withheld in respect thereof shall again become available to be delivered pursuant to Awards granted under the Plan.  Any shares of Common Stock (a) delivered by the Company, (b) with respect to which Awards are made by the Company and (c) with respect to which the Company becomes obligated to make Awards, in each case through
the assumption of, or in substitution for, outstanding awards previously granted by an acquired entity, shall not be counted against the shares of Common Stock available for Awards under this Plan.  Shares of Common Stock which may be delivered pursuant to Awards may be authorized but unissued Common Stock or authorized and issued Common Stock held in the Company’s treasury or otherwise acquired for the purposes of the Plan.

  

E-2

  

Exhibit 4.3

 

	
Article 4.
	
ADMINISTRATION. 

 

	
4.1
	
The Plan shall be administered by the Committee.  A majority of the Committee shall constitute a quorum, and the acts of a majority shall be the acts of the Committee.  Any determination of the Committee may be made, without a meeting, by a writing or writings signed by all of the members of the Committee.  In addition, the Committee may authorize any one or more of their number or any
officer of the Company to execute and deliver documents on behalf of the Committee and the Committee may delegate to one or more employees, agents or officers of the Company, or to one or more third party consultants, accountants, lawyers or other advisors, such ministerial duties related to the operation of the Plan as it may deem appropriate.

 

	
4.2
	
Subject to the provisions of the Plan, the Committee (or its delegate, within limits established by the Committee, with respect to non-Covered Employees and employees who are not subject to Section 16 of the Exchange Act) shall have the authority in its sole discretion to (i) exercise all of the powers granted to it under the Plan (including but not limited to, selection of the Participants, determination of the
type, size and terms of Awards to be made to Participants, determination of the shares, share units or other equity-based awards subject to Awards, the restrictions, conditions and contingencies to be applicable in the case of specific Awards, and the time or times at which Awards shall be exercisable or at which restrictions, conditions and contingencies shall lapse), (ii) construe, interpret, and implement the Plan and all Award Agreements, (iii) establish, prescribe, amend and rescind any rules and regulations
relating to the Plan, including rules governing its own operations, (iv) determine the terms and provisions of any agreements entered into hereunder, (v) make all other determinations necessary or advisable for the administration of the Plan, (vi) correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent it shall deem desirable to carry it into effect, (vii) amend any outstanding Award Agreement to accelerate the time or times at which the
Award becomes vested, unrestricted or may be exercised, or, to the extent permitted under applicable tax laws, to waive or amend any goals, restrictions or conditions set forth in such Award Agreement, or reflect a change in the grantee’s circumstances (e.g., a change to part time employment status) and (vii) determine whether, to what extent and under what circumstances and method or methods (1) Awards may be (A) settled in cash, shares of
Common Stock, other securities, other Awards or other property, (B) exercised or (C) canceled, forfeited or suspended (including, without limitation, canceling underwater options without payment to the grantee), (2) shares of Common Stock, other securities, other Awards or other property and other amounts payable with respect to an Award may be deferred either automatically or at the election of the grantee thereof or of the Committee and (3) Awards may be settled by the Company, any of its subsidiaries or affiliates
or any of its or their designees.  Other than as provided in Section 17, the Committee shall not be permitted to reduce the exercise price of an Option (or reduce the reference price of a stock appreciation right) after such Award has been granted).

 

	
4.3
	
Actions of the Committee may be taken by the vote of a majority of its members present at a meeting (which may be held telephonically).  Any action may be taken by a written instrument signed by a majority of the Committee members, and action so taken shall be fully as effective as if it had been taken by a vote at a meeting.  The determination of the Committee on all matters relating to the Plan
or any Award Agreement shall be final, binding and conclusive.  The Committee may allocate among its members and delegate to any person who is not a member of the Committee any of its administrative responsibilities.

 

	
4.4
	
No Liability.  No member of the Board of Directors or the Committee or any employee of the Company or its subsidiaries or affiliates (each such person, a “Covered Person”) shall have any liability to any person (including any grantee) for any action taken or omitted
to be taken or any determination made in good faith with respect to the Plan or any Award.  Each Covered Person shall be indemnified and held harmless by the Company against and from (a) any loss, cost, liability or expense (including attorneys’ fees) that may be imposed upon or incurred by such Covered Person in connection with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken
or omitted to be taken under the Plan or any Award Agreement and (b) any and all amounts paid by such Covered Person, with the Company’s approval, in settlement thereof, or paid by such Covered Person in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person, provided that the Company shall have the right, at its own expense, to assume and defend

  

E-3  

  

Exhibit 4.3

any such action, suit or proceeding and, once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company’s choice.  The foregoing right of indemnification shall not be available to a Covered Person to the extent that a court of competent
jurisdiction in a final judgment or other final adjudication, in either case not subject to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification claim resulted from such Covered Person’s bad faith, fraud or willful criminal act or omission.  The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which Covered Persons may be entitled under the Company’s Certificate of Incorporation
or Bylaws, as a matter of law, or otherwise, or any other power that the Company may have to indemnify such persons or hold them harmless.

Article 5.              ELIGIBILITY.  All employees of
the Company and its subsidiaries and consultants who are parties to consultancy agreements with the Company or any subsidiary, in each case who have demonstrated significant management potential or who have the capacity for contributing in a substantial measure to the successful performance of the Company, as determined by the Committee in its sole discretion, are eligible to be Participants in the Plan.  In addition, the Committee may from time to time deem other employees of the Company or its subsidiaries
or consultants eligible to participate in the Plan to receive awards of nonstatutory stock options.  The granting of any Award to a Participant shall not entitle that Participant to, nor disqualify that Participant from, participation in any other grant of an Award.

 

Article 6.              AWARDS.  Awards under the Plan
may consist of:  (i) stock options (either incentive stock options within the meaning of Section 422 of the Internal Revenue Code or nonstatutory stock options), (ii) performance shares, (iii) performance share units, (iii) stock appreciation rights, (iv) restricted shares, (v) restricted share units and (vi) other equity-based Awards which the Committee determines to be consistent with the purpose of the Plan and the interests of the Company.  Awards of performance shares, performance share
units, restricted shares, restricted share units and other equity-based awards may provide the Participant with dividends or dividend equivalents and voting rights prior to vesting (whether based on a period of time or based on attainment of specified performance conditions); provided, however, that such dividends or dividend equivalents shall be paid or provided in a manner compliant with Section 409A of the Internal
Revenue Code (“Section 409A”).

Article 7.              STOCK OPTIONS.  The Award Agreement
pursuant to which any incentive stock option is granted shall specify that the option granted thereby shall be treated as an incentive stock option.  The Award Agreement pursuant to which any nonstatutory stock option is granted shall specify that the option granted thereby shall not be treated as an incentive stock option. The Committee shall establish the option price at the time each stock option is granted, which price shall not be less than 100% of the Fair Market Value of the Common Stock on the
date of grant.  Stock options shall be exercisable for such period as specified by the Committee, but in no event may options be exercisable for a period of more than ten years after their date of grant.  The option price of each share as to which a stock option is exercised shall be paid in full at the time of such exercise.  Such payment shall be made in cash, by tender of shares of Common Stock owned by the Participant valued at Fair Market Value as of the date of exercise, subject
to such guidelines for the tender of Common Stock as the Committee may establish, in such other consideration as the Committee deems appropriate, or by a combination of cash, shares of Common Stock and such other consideration.  The Committee, in its sole discretion, may grant to a Participant the right to transfer Common Stock acquired upon the exercise of a part of a stock option in payment of the exercise price payable upon immediate exercise of a further part of the stock option.

 

	
Article 8.
	
PERFORMANCE AWARDS.  

 

	
8.1
	
Performance Shares and Performance Share Units.  Performance shares may be granted in the form of actual shares of Common Stock or as performance share units having a value equal to an identical number of shares of Common Stock.  In the event that a stock certificate is issued in respect of performance shares, such certificate shall
be registered in the name of the Participant but shall be held by the Company until the time the performance shares are earned.  The performance conditions and the length of the performance period shall be determined by the Committee in accordance with Section 8.2 below, and shall be reflected in the Award Agreement pursuant to which the performance shares or performance share units are granted.  The

  

E-4  

  

Exhibit 4.3

Committee shall determine in its sole discretion whether performance share units shall be paid in cash, Common Stock, or a combination of cash and Common Stock.

 

	
8.2
	
Performance Goals.  The Committee may establish performance goals with respect to any Award using one or more of the following objectives:  (a) market share (including, without limitation, the market share of trading volume in certain types of securities), (b) earnings, (c) earnings per share, (d) operating profit, (e) operating
margin, (f) return on equity, (g) return on assets, (h) total return to stockholders, (i) technology improvements, (j) return on investment capital, (k) revenue growth, (l) cash flow, (m) reliability, (n) revenue growth (o) quality objectives and (p) such other objectives or performance measures as the Committee may select.  In addition, Awards may be subject to comparisons of the performance of other companies, such performance to be measured by one or more of the foregoing business criteria.  If
an Award of performance shares or performance share units is made on such basis, the Committee shall establish the relevant performance conditions within 90 days after the commencement of the performance period (or such later date as may be required or permitted by Section 162(m) of the Internal Revenue Code).  The Committee may, in its discretion, reduce or eliminate the amount of payment with respect to an Award of performance shares or performance share units to a Covered Employee, notwithstanding
the achievement of a specified performance condition.  An Award of performance shares or performance share units to a Participant who is a Covered Employee shall (unless the Committee determines otherwise) provide that in the event of the Participant’s termination of employment prior to the end of the performance period for any reason, such Award will be payable only (A) if the applicable performance conditions are achieved and (B) to the extent, if any, as the Committee shall determine.

 

Article 9.              STOCK APPRECIATION RIGHTS.  Stock Appreciation
Rights (“SARs”) may be granted either alone or in connection with a stock option, as the Committee determines and as reflected in the Award Agreement pursuant to which such SAR is granted.  A SAR granted in connection with an incentive stock option may be granted only when the incentive stock option is granted.  A SAR granted in connection with a nonstatutory stock option may be granted either when the related nonstatutory stock option is granted or at any time thereafter, including,
in the case of any nonstatutory stock option resulting from the conversion of an incentive stock option to a nonstatutory stock option, simultaneously with or after the conversion.  A Participant electing to exercise a SAR shall deliver written notice to the Company of the election identifying the SAR and, if applicable, the related option with respect to which the SAR was granted to the Participant, and specifying the number of whole shares of Common Stock with respect to which the Participant is exercising
the SAR.  Upon exercise of the SAR, if applicable, the related option shall be deemed to be surrendered to the extent that the SAR is exercised.  SARs may be exercised only (i) on a date when the Fair Market Value of a share Common Stock exceeds the exercise price stated in the Award Agreement or, if applicable, the Award Agreement for the stock option related to that SAR and (ii) in compliance with any restrictions that may be set forth in the Award Agreement pursuant to which the SAR was
granted.  The amount payable upon exercise of a SAR may be paid by the Company in cash, or, if the Committee shall determine in its sole discretion, in shares of Common Stock (taken at their Fair Market Value at the time of exercise of the SAR) or in a combination of cash and shares of Common Stock; provided, however, that if the SAR is granted in connection with a stock option, in no event shall the total
number of shares of Common Stock that may be paid to a Participant pursuant to the exercise of a SAR exceed the total number of shares of Common Stock subject to the related stock option.  A SAR shall terminate and may no longer be exercised upon the first to occur of (a) if applicable, exercise or termination of the related stock option or (b) any termination date specified in the Award Agreement pursuant to which the SAR is granted.  In addition, the Committee may, in its sole discretion
at any time before the occurrence of a Change of Control, amend, suspend or terminate any SAR theretofore granted under the Plan without the holder’s consent; provided that, in the case of amendment, no provision of the SAR, as amended, shall be in conflict with any provision of the Plan.  If the SAR is granted in connection with a stock option, the amendment, suspension or termination of any such SAR by the Committee as described in the immediately
preceding sentence shall not affect the holder’s rights in any related stock option.

Article 10.            RESTRICTED SHARES and RESTRICTED SHARE UNITS.  Restricted
stock may be granted in the form of actual shares of Common Stock or restricted share units having a value equal to an identical number of shares of Common Stock.  In the event that a stock certificate is issued in respect of

  

E-5  

  

Exhibit 4.3

restricted stock, such certificate shall be registered in the name of the Participant but shall be held by the Company until the end of the restricted period.  The employment conditions and the length of the period for vesting of restricted stock or restricted stock units shall be reflected in the Award Agreement pursuant to
which such restricted stock or restricted share units are granted.  The Committee shall determine in its sole discretion whether restricted share units shall be paid in cash, Common Stock, or a combination of cash and Common Stock.

Article 11.           OTHER EQUITY-BASED AWARDS.  The Committee may grant
other types of equity-based Awards (including the grant or offer for sale of unrestricted shares of Common Stock and performance shares) in such amounts and subject to such terms and conditions, as the Committee shall determine.  Such Awards may entail the transfer of actual shares of Common Stock to Plan participants, or payment in cash or otherwise of amounts based on the value of shares of Common Stock.  The terms of such other equity-based awards shall be reflected in Award Agreement pursuant
to which such other equity-based award is granted.

 

	
Article 12.
	
AWARDS UNDER THE PLAN

 

	
12.1
	
Award Agreements.  Each Award under the Plan shall be evidenced by an agreement setting forth the terms and conditions, as determined by the Committee, which shall apply to such Award, in addition to the terms and conditions specified in the Plan.  The Committee may grant Awards in tandem with or in substitution for any other Award
or Awards granted under this Plan or any award granted under any other plan of the Company.  By accepting an Award pursuant to the Plan, a grantee thereby agrees that the Award shall be subject to all of the terms and provisions of the Plan and the applicable Award Agreement.

 

	
12.2
	
Rights as a Stockholder. The Award Agreement shall specify whether (and under what circumstances) the grantee of an Award (or other person having rights pursuant to an Award) shall have any of the rights of a stockholder of the Company with respect to shares of Common Stock subject to an Award.  Except as otherwise provided in Section 17,
no adjustments shall be made for dividends or distributions (whether ordinary or extraordinary, and whether in cash, Common Stock, other securities or other property) on, or other events relating to, shares of Common Stock subject to an Award for which the record date is prior to the date such shares are delivered.

 

	
Article 13.
	
CHANGE IN CONTROL. 

 

	
13.1
	
In the event of a Change in Control, as hereinafter defined, (i) the restrictions applicable to all shares of restricted stock and restricted share units shall lapse and such shares and share units shall be deemed fully vested, (ii) all restricted stock granted in the form of share units shall be paid in cash, (iii) all performance shares granted in the form of shares of Common Stock or performance share units shall
be deemed to be earned in full, (iv) all performance shares granted in the form of share units shall be paid in cash, and (v) each a stock option and SAR that is not exercisable in full shall be deemed fully vested.  The amount of any cash payment in respect of a restricted share unit or performance share unit shall be equal to:  (A) in the event the Change in Control is the result of a tender offer or exchange offer for Common Stock, the final offer price per share paid for the Common Stock
or (B) in the event the Change in Control is the result of any other occurrence, the aggregate per share value of Common Stock as determined by the Committee at such time.  The Committee may, in its discretion, include such further provisions and limitations in any agreement documenting such Awards as it may deem equitable and in the best interests of the Company.

 

	
13.2
	
A “Change in Control” shall mean the occurrence of any one of the following events: (i) any “person” (as such term is defined in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board of Directors (the “Company Voting Securities”); provided, however, that the event described in this paragraph (i) shall not be deemed to be a Change in Control by virtue
of any of the following acquisitions: (A) by the Company or any of its subsidiaries, (B) by any employee benefit plan sponsored or maintained by the Company or any of its subsidiaries, (C) by any underwriter temporarily holding securities pursuant to an offering of such securities,

  

E-6  

  

Exhibit 4.3

or (D) pursuant to a Non-Control Transaction (as defined in clause (iii) below), (ii) during any period of not more than two years, individuals who constitute the Board of Directors of the Company as of the beginning of the period (the “Incumbent Directors”)
cease for any reason to constitute at least a majority of the Board of Directors, provided that any person becoming a director subsequent to the beginning of the period; whose election or nomination for election was approved by a vote (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination) of at least three-quarters of the Incumbent
Directors who remain on the Board of Directors, including those directors whose election or nomination for election was previously so approved, shall also be deemed to be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with respect to directors or any other
actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board of Directors shall be deemed to be an Incumbent Director; (iii) the consummation of a merger, consolidation, share exchange or similar form of corporate reorganization of the Company (or any such type of transaction involving the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether for the transaction or the issuance of securities in the transaction
or otherwise) (a “Business Combination”), unless immediately following such Business Combination: (a) more than 60% of the total voting power of the corporation resulting from such Business Combination (including, without limitation, any corporation which directly or indirectly has beneficial ownership of 100% of the Company Voting Securities) eligible to elect directors of such corporation is represented by shares that were Company
Voting Securities immediately prior to such Business Combination (either by remaining outstanding or being converted), and such voting power is in substantially the same proportion as the voting power of such Company Voting Securities immediately prior to the Business Combination, (b) no person (other than any holding company resulting from such Business Combination, any employee benefit plan sponsored or maintained by the Company (or the corporation resulting from such Business Combination)) immediately following
the consummation of the Business Combination becomes the beneficial owner, directly or indirectly, of 25% or more of the total voting power of the outstanding voting securities eligible to elect directors of the corporation resulting from such Business Combination, and (c) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were Incumbent Directors at the time of the approval of the execution of the initial agreement providing for such Business
Combination (any Business Combination which satisfies the conditions in clauses (a), (b) and (c) is referred to hereunder as a “Non-Control Transaction”); or (iv) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or the sale of all or substantially all of its assets.  Notwithstanding the foregoing, a Change in Control of the Company shall not be deemed to occur solely because
any person acquires beneficial ownership of more than 25% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding; provided, that if after such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially
owned by such person, a Change in Control of the Company shall then occur.

Article 14.            WITHHOLDING.  The Company shall have the right
to deduct from any payment to be made pursuant to the Plan the amount of any taxes required by law to be withheld therefrom, or to require a Participant to pay to the Company such amount required to be withheld prior to the issuance or delivery of any shares of Common Stock or the payment of cash under the Plan.  The Committee may, in its discretion, permit a Participant to elect to satisfy such withholding obligation by having the Company retain the number of shares of Common Stock whose Fair Market
Value equals the amount required to be withheld.  Any fraction of a share of Common Stock required to satisfy such obligation shall be disregarded and the amount due shall instead be paid in cash to the Participant.

Article 15.            NONTRANSFERABILITY.  No Award shall be assignable
or transferable, and no right or interest of any Participant shall be subject to any lien, obligation or liability of the Participant, except by will or the laws of descent and distribution.  Notwithstanding the immediately preceding sentence, the Committee may, subject to the terms and conditions it may specify, permit a Participant to transfer any nonstatutory stock options granted to him pursuant to the Plan to one or more of his immediate family members or to trusts established in whole or in part
for the benefit of the Participant and/or one or more of such immediate family

  

E-7  

  

Exhibit 4.3

members.  During the lifetime of the Participant, a nonstatutory stock option shall be exercisable only by the Participant or by the immediate family member or trust to whom such stock option has been transferred pursuant to the immediately preceding sentence.  For purposes of the Plan, (i) the term “immediate
family” shall mean the Participant’s spouse and issue (including adopted and step children) and (ii) the phrase “immediate family members and trusts established in whole or in part for the benefit of the Participant and/or one or more of such immediate family members” shall be further limited, if necessary, so that neither the transfer of a nonstatutory stock option to such immediate family member or trust, nor the ability of a Participant to make such a transfer shall have adverse consequences
to the Company or the Participant by reason of Section 162(m) of the Internal Revenue Code.

Article 16.           NO RIGHT TO EMPLOYMENT OR CONSULTANCY. No person shall have any claim
or right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of the Company or any subsidiary or retained as a consultant with the Company or any subsidiary.  Further, the Company and its subsidiaries expressly reserve the right at any time to dismiss a Participant free from any liability, or any claim under the Plan, except as provided herein or in any agreement entered into hereunder.  Any obligation of the
Company under the Plan to make any payment at any future date merely constitutes the unsecured promise of the Company to make such payment from its general assets in accordance with the Plan, and no Participant shall have any interest in, or lien or prior claim upon, any property of the Company or any subsidiary by reason of that obligation.

 

	
Article 17.
	
ADJUSTMENT OF AND CHANGES IN COMMON STOCK.  

 

	
17.1
	
The Committee shall adjust the number of shares of Common Stock authorized pursuant to Section 3.1 and shall adjust the terms of any outstanding Awards (including, without limitation, the number of shares of Common Stock covered by each outstanding Award, the type of property to which the Award relates (including whether such Award may be terminated and settled by payment of cash) and the exercise or strike price
of any Award), in such manner as it deems appropriate to prevent the enlargement or dilution of rights, or otherwise deems it appropriate, for any increase or decrease in the number of issued shares of Common Stock (or issuance of shares of stock other than shares of Common Stock) resulting from a recapitalization, stock-split, reverse stock split, stock dividend, spin-off, split-up, combination or reclassification or exchange of the shares of Common Stock, merger, consolidation, rights offering, separation,
reorganization or any other change in corporate structure or event the Committee determines in its sole discretion affects the capitalization of the Company, including any extraordinary dividend or distribution. After any adjustment made pursuant to this Section 17.1, the number of shares of Common Stock subject to each outstanding Award shall be rounded up or down to the nearest whole number, as determined by the Committee and consistent with the requirements of applicable tax law. Notwithstanding anything in
the Plan to the contrary, any adjustments, modifications or changes of any kind made pursuant to this Section 17.1 shall be made in a manner compliant with Section 409A.

 

	
17.2
	
Except as provided in Section 3.1 or under the terms of any applicable Award Agreement, there shall be no limit on the number or the value of shares of Common Stock that may be subject to Awards to any individual under the Plan.

 

	
17.3
	
There shall be no limit on the amount of cash, securities (other than shares of Common Stock as provided in Section 3.1, as adjusted by 17.1) or other property that may be delivered pursuant to any Award.

 

Article 18.            AMENDMENT.  The Board of Directors may amend, suspend
or terminate the Plan or any portion thereof at any time, provided that no amendment shall be made without stockholder approval if such approval is necessary in order for the Plan to continue to comply with Rule 16b-3 under the Exchange Act, and that such amendments shall be effected in a manner compliant with applicable tax law and subject to Section 23 of the Plan.

Article 19.            EFFECTIVE DATE AND TERMINATION.  The Plan was originally
effective as of January 1, 1999 and this Amended and Restated Plan is effective as of the Effective Date.  Subject to earlier termination pursuant to Section 18 of the Plan or by the action of the Board of Directors, the Plan shall remain in effect

  

E-8  

  

Exhibit 4.3

until December 31, 2018.

Article 20.            PURCHASE FOR INVESTMENT.  Each person acquiring
Common Stock pursuant to any Award may be required by the Company to furnish a representation that he or she is acquiring the Common Stock so acquired as an investment and not with a view to distribution thereof if the Company, in its sole discretion, determines that such representation is required to ensure that a resale or other disposition of the Common Stock would not involve a violation of the Securities Act of 1933, as amended, or of applicable blue sky laws.  Any investment representation so
furnished shall no longer be applicable at any time such representation is no longer necessary for such purposes.

Article 21.            AWARDS IN SUBSTITUTION FOR AWARDS GRANTED BY OTHER COMPANIES.  Awards
may be granted under the Plan in substitution for awards held by employees of a company who become employees of the Company or any subsidiary as a result of the merger or consolidation of the employer company with the Company or any subsidiary, or the acquisition by the Company or any subsidiary of the assets of the employer company, or the acquisition by the Company or any subsidiary of stock of the employer company as a result of which it becomes a subsidiary.  The terms, provisions, and benefits
of the substitute Awards so granted may vary from the terms, provisions, and benefits set forth in or authorized by the Plan to such extent as the Committee at the time of the grant may deem appropriate to conform, in whole or in part, to the terms, provisions, and benefits of the awards in substitution for which they are granted.

Article 22.            GOVERNING LAW.  The provisions of the Plan shall
be governed and construed in accordance with the laws of the State of New York.

Article 23.            SECTION 409A.  It is the Company’s intent
that the Plan and Awards granted hereunder comply with or be exempt from the requirements of Section 409A and that agreements evidencing Awards be administered and interpreted accordingly.  If and to the extent that any payment or benefit under this Plan is determined by the Company to constitute “non-qualified deferred compensation” subject to Section 409A and is payable to a Participant by reason of the Participant’s termination of employment, then (a) such payment or benefit shall
be made or provided to the Participant only upon a “separation from service” as defined for purposes of Section 409A under applicable regulations and (b) if the Participant is a “specified employee” (within the meaning of Section 409A and as determined by the Company), such payment or benefit shall be made or provided on the date that is six months and one day after the date of the Participant’s separation from service (or earlier death).  Any amount not paid in respect
of the six-month period specified in the preceding sentence will be paid to the Participant in a lump sum on the date that is six months and one day after the Participant’s separation from service (or earlier death).  Each payment made under the Plan shall be deemed to be a separate payment for purposes of Section 409A.  If and to the extent that any Award is determined by the Company to constitute “non-qualified deferred compensation” subject to Section 409A and such Award
is payable to a Participant upon a Change in Control, then no payment shall be made pursuant to such Award unless such Change in Control constitutes a “change in the ownership of the corporation”, “a change in effective control of the corporation”, or “a change in the ownership of a substantial portion of the assets of the corporation” within the meaning of Section 409A; provided that if such Change in Control does not constitute
a “change in the ownership of the corporation”, “a change in effective control of the corporation”, or “a change in the ownership of a substantial portion of the assets of the corporation” within the meaning of Section 409A, then the Award shall still fully vest upon such Change in Control, but shall be payable upon the original schedule contained in the Award.  If and to the extent that any Award is determined by the Company to constitute “non-qualified deferred
compensation” subject to Section 409A and such Award is payable to a Participant upon disability, then no payment shall be made pursuant to such Award unless such disability constitutes “disability” within the meaning of Section 409A; provided that if such disability does not constitute “disability” within the meaning of Section 409A, then the Award shall still fully vest upon such disability, but shall be payable upon the original
schedule contained in the Award.  Notwithstanding anything to the contrary in Section 1, the provisions of this Section 23 shall be effective as of January 1, 2009 and shall apply to all Awards under the Plan regardless of when granted and regardless of whether the Plan is approved by the stockholders of CONMED Corporation.  Neither the Company nor its affiliates shall have any liability to any Participant, Participant’s spouse or other beneficiary of any Participant’s spouse or
other beneficiary of any Participant or otherwise if the Plan or any amounts paid or payable hereunder are subject to the additional tax and penalties under Section 409A.

 E-9

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