Document:

Employment Agreement, effective September 7, 2011

 Exhibit 10.3 
 EXECUTION 
 EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”), is executed and entered into by and between MARINA BIOTECH, INC., a Delaware
corporation (the “Company”), with offices at 3830 Monte Villa Parkway, Bothell, Washington 98021 and Philip C. Ranker, an individual resident in the State of California (the “Executive”), effective September 7, 2011 (the
“Effective Date”). 
 W I T N E S S E T H : 
 WHEREAS, the Company and the Executive wish to enter into this Agreement, which shall set forth the Executive’s terms of employment by the Company during the Employment Period as Chief Accounting
Officer through September 30, 2011, and as interim Chief Financial Officer and Secretary thereafter, 
 NOW THEREFORE, in
consideration of the mutual promises and agreements herein and for other good and valuable consideration the receipt and sufficiency of which are hereby mutually acknowledged, the Company and the Executive agree as follows: 

1. Application and Effectiveness of Agreements. As of the Effective Date, this Agreement shall govern (i) the employment
relationship between the Company and the Executive and (ii) other matters as set forth herein. 
 2. Employment;
Responsibilities and Authority; Definitions. 
 (a) Subject to the terms and conditions of this Agreement, the Company shall
employ the Executive as its as Chief Accounting Officer through September 30, 2011, and as interim Chief Financial Officer and Secretary thereafter, in each case during the Employment Period (as defined in Section 3, below), and the
Executive shall perform such acts and duties and furnish such services to the Company and its Subsidiaries (as defined below) as the Chief Executive Officer of the Company (the “CEO”) shall from time to time direct. 

(b) Subject to the terms and conditions of this Agreement, the Executive hereby accepts such employment and agrees to devote his full
time and continuous best efforts to the duties provided for herein. 
 (c) For purposes of this Agreement: (1) the
“Business of the Company” means the business of developing nucleic acid related therapeutics and diagnostics (provided, however, that for purposes of Sections 17(b) through (e) hereof, “Business of the Company”
shall mean the Company’s business as of the date of termination of Executive’s employment, as the same may have changed since the Effective Date), and (2) the term “Subsidiary” means a corporation or other entity that is at
least majority owned, directly or indirectly, by the Company. 
 3. Term; Employment Period. The “Employment
Period” under this Agreement shall commence on the Effective Date and shall terminate at the close of business on March 7, 2012 unless it is (a) extended by written agreement between the parties or by continuing employment of the
Executive by the Company as provided in the following sentence or (b) earlier terminated pursuant to Section 10 hereof. 

 4. Salary. For services rendered to the Company during the Employment Period, the
Company shall compensate the Executive with a base salary, payable in semi-monthly installments, which initially shall be two hundred seventy-five thousand dollars ($275,000) per annum commencing on the Effective Date, less all legally required or
authorized payroll deductions and tax withholdings. 
 5. Incentive Cash Compensation. 

(a) For the Company’s fiscal year that began on January 1, 2011, and for each subsequent fiscal year or portion thereof during
the Employment Period, the Executive shall be eligible to receive incentive cash compensation based on the Executive’s performance in relation to the performance areas and performance targets which the Board or Compensation Committee shall
determine and communicate to the Executive as described below (the “Annual Bonus Plan”). The targeted amount of such Annual Bonus Plan shall be thirty percent (30%) of the Executive’s base salary for the applicable fiscal year,
which shall be calculated on a pro-rata basis depending upon the number of days during any fiscal year on which Executive was employed by the Company; provided, however, that the Executive and the Company acknowledge that the amount
actually paid to the Executive pursuant to this Section 5 for any fiscal year, Employment Period or portion thereof may be nil, or may be more or less than said targeted amount. 

(b) The Board shall establish performance criteria for determination of the incentive cash compensation under the Annual Bonus Plan that
will be payable to the Executive with respect to each fiscal year of the Company or the Employment Period if less than a fiscal year. To the extent possible, such criteria shall be established, as to each fiscal year, prior to the end of the second
month of such fiscal year, but in any event at the discretion of the Board. As an example, such performance criteria may be comprised of several designated performance areas and one or more performance targets in each area. The Company acknowledges
that the business objectives used in determining the Executive’s incentive cash compensation, and the performance areas and performance targets referred to herein, shall be based on the input and recommendations of the Company’s Chief
Executive Officer and that, in exercising its review and supervisory role with respect to the determination and adoption of those performance areas and performance targets, the Board or the Compensation Committee, as the case may be, shall act
reasonably and in consultation and cooperation with the Chief Executive Officer and consistently with past practice. 
 (c) As
soon as practical, and absent unforeseen circumstances no later than ninety (90) days following the end of each fiscal year of the Company, the Board shall determine, reasonably and in good faith, the extent to which the applicable performance
criteria for such fiscal year or Employment Period shall have been achieved and, accordingly, shall cause the appropriate amount of incentive cash compensation to be paid to the Executive. If unforeseen developments occur that in the opinion of the
Board make the performance areas and/or targets previously determined unachievable, infeasible, or inadvisable — and therefore inappropriate as a measure of the performance of the Executive — the Board shall consider in good faith the
extent to which the actual performance of the Executive nevertheless warrants payment of the amounts that would have been payable if the performance criteria had been achieved; and, to such extent, payment shall be made to the Executive. 

  
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 6. Stock Options. The Company and the Executive hereby acknowledge that the Board of
Directors has approved the grant to the Executive of options to purchase shares of common stock of the Company (which options shall constitute “incentive stock options” under the Company’s 2008 Stock Incentive Plan (the
“Plan”)) (the “Outstanding Options”). The terms of the Plan and the grant agreement granting such Outstanding Options, a copy of which is being delivered to Executive substantially contemporaneously with the execution of this
Agreement, shall govern the rights and obligations of the Executive with respect thereto. On the Effective Date, the Executive shall receive a grant of options to purchase 25,000 shares of common stock of the Company, all of which shall vest and be
exercisable on September 7, 2012 at the Fair Market Value (as defined in the Plan) calculated as of the date of issue. In addition, during the Employment Period the Board of Directors may grant additional options to purchase shares of common
stock of the Company to the Executive. 
 7. Relocation and Temporary Travel Expenses. The Company hereby agrees to pay
Executive for costs typically associated with the Executive’s relocating to Washington State. Specifically, the Company agrees to pay the Executive seventeen thousand dollars ($17,000) in two separate payments of eight thousand five hundred
dollars ($8,500) through its regular payroll process, which payments shall be made on the Effective Date and on December 3, 2011. The Company shall reimburse Executive for reasonable air travel to and from Executive’s home residence in San
Diego, CA to and from Bothell, WA until March 7, 2012, in an amount not to exceed $1,000 per month without the prior consent of the CEO. Reimbursements shall be made pursuant to Company’s reimbursement policy and consistent with
Section 13 hereof. 
 8. Benefits. During the Employment Period, the Company shall provide or cause to be provided
to the Executive at least such employee benefits as are provided to other executive officers of the Company. The Company reserves the right to change or eliminate employee benefits on a prospective basis, at any time, effective upon notice to
Executive. 
 9. Paid Time Off. The Executive shall be entitled to paid time off in accordance with the Company’s
policies in effect from time to time for executive officers of the Company. 
 10. Termination.  

(a) Executive’s employment by the Company shall be “at will.” Either the Company or the Executive may terminate
Executive’s employment by the Company at the end of any calendar week, with or without Cause or Good Reason (as such terms are defined below), in its or his sole discretion, upon thirty (30) days’ prior written notice of
termination. In addition, the Executive’s employment by the Company shall be terminated by his death or “Disability” (as defined below). Termination of the Executive’s employment as provided for herein shall terminate the
Employment Period. 

  
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 (b) For purposes of this Agreement, in the case of a termination of the Executive’s
employment hereunder by the Executive, the term “Good Reason” shall have the meaning set forth for it below; in the case of a termination of the Executive’s employment hereunder by the Company, the term “Cause” shall have
the meaning set forth for it below; and the other terms set out below in this Section 10 shall have the meanings provided for them respectively: 
 (i) “Good Reason” shall mean failure of the Company to pay to the Executive any amounts of base salary and/or incentive cash compensation as provided for in Sections 4 or 5 above, or to honor
promptly any of its obligations or commitments regarding stock options or other benefits referred to in Sections 7, 8 and/or 9 above, or to honor promptly any of its other material obligations hereunder, or the Company’s material violation of
any of the terms, covenants, representations or warranties contained in this Agreement; provided that, (A) Executive shall give written notice to the Company within thirty (30) days of the initial existence of the Good Reason
condition, (B) the Company must fail to cure such Good Reason condition, if curable, within ten (10) business days following the Company’s receipt of such written notice, and (C) the Executive must terminate his employment for
Good Reason within one hundred twenty (120) days following the date on which the Good Reason condition occurred. 
 (ii)
“Cause” shall mean (i) the Executive’s willful and repeated failure to perform his duties hereunder or to comply with any reasonable and proper direction given by the Company’s Chief Executive Officer or Board, which failure
continues for a period of ten (10) days following receipt by the Executive of written notice from the Company containing a specific description of any such alleged failure(s) and a demand for immediate cure thereof; (ii) conviction of the
Executive of a felony or any criminal offense involving moral turpitude; (iii) the Executive’s commission of an act of fraud or theft against or involving the Company; or (iv) the Executive’s material violation of any of the
terms, covenants, representations or warranties contained in this Agreement, provided that, in the case of this clause “iv,” if such violation is subject to cure and effective remediation by the Executive, such violation is
not so cured and remediated by the Executive within ten (10) days following receipt by the Executive of written notice from the Company containing a reference to the violation and a demand for immediate cure thereof. 

(c) “Disability” shall mean that the Executive is unable to perform the essential functions of his position with or without
reasonable accommodation, for a period of ten (10) consecutive days due to a physical or mental disability as determined by an independent physician chosen jointly by the Executive and the Company. 

(d) “Termination Date” shall mean (i) if this Agreement is terminated on account of death, the date of death; (ii) if
this Agreement is terminated for Disability, the date that such Disability is established; (iii) if this Agreement is terminated by the Company or by the Executive, the effective date of the termination as provided in Section 10(a) hereof;
or (iv) if this Agreement expires by its terms, March 7, 2012 or, if later, the expiration of the Employment Period. 

11. Severance. 
 (a) If (i) the Company terminates the employment of the Executive during any Employment Period without Cause, or (ii) the Executive terminates his employment during any Employment Period for
Good Reason, then (A) Executive shall be entitled to receive base salary, pay for accrued but unused paid time off, and reimbursement for expenses pursuant to Section 12 hereof through the Termination Date; provided that if the
Executive’s employment is terminated at any time prior to March 7, 2012, Executive shall be entitled to receive payments of base salary 

  
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in an amount such that the aggregate amount of base salary payments that have been made to Executive pursuant to this Agreement (including any such payments that were made prior to the
Termination Date) shall equal $137,500; (B) notwithstanding the vesting and exercisability provisions otherwise applicable to the Outstanding Options, all of such options shall be fully vested and exercisable upon such termination and shall
remain exercisable as specified in the option grant agreements; and (C) payment by Company of the premiums required to continue Employee’s group health care coverage for a period of six (6) months following Executive’s
termination, under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), provided that Executive elects to continue and remains eligible for these benefits under COBRA, and does not become eligible for
health coverage through another employer during this period. Executive will only receive the payments and benefits set forth above if Executive: (i) complies with all surviving provisions of this Agreement; (ii) executes a full general
release in a form acceptable to Company, releasing all claims, known or unknown, that Executive may have against Company arising out of or any way related to Executive’s employment or termination of employment with Company, and such release has
become effective in accordance with its terms prior to the 60th day following the termination date, (iii) agrees not make any voluntary statements, written or oral, or cause or encourage others to make any such statements that defame or
disparage the personal and/or business reputations, practices or conduct of Company, and (iv) immediately resigns all other positions (including board membership) Executive may hold on behalf of Company (provisions (i) through
(iv) above are collectively referred to as “Severance Requirements”). All other Company obligations to Executive will be automatically terminated and completely extinguished. In the event that the Executive does not comply with
the Severance Requirements, the Company shall be released from all obligations to continue making group health care coverage premium payments on behalf of the Executive. 
 (b) If (A) the Executive voluntarily terminates his employment during any Employment Period other than for Good Reason or (B) the Executive’s employment is terminated by the Company during
any Employment Period for Cause, then the Executive shall be entitled to receive base salary, pay for accrued but unused paid time off, and reimbursement for expenses pursuant to Section 12 hereof through the Termination Date; vesting of
Outstanding Options shall cease on such Termination Date; any then un-vested Outstanding Options shall terminate (with the then-vested Outstanding Options vested and exercisable as specified in the option grant agreements). 

(c) If the Executive’s employment is terminated during any Employment Period due to death or Disability, the Executive (or his
estate or legal representative as the case may be) shall be entitled to receive base salary, pay for accrued but unused paid time off, and reimbursement for expenses pursuant to Section 12 hereof through the Termination Date. In addition,
vesting of the Outstanding Options shall cease on such Termination Date, and any then un-vested Outstanding Options shall terminate (with the then-vested Outstanding Options vested and exercisable as specified in the option grant agreements).

 (d) The Executive acknowledges that, upon termination of his employment, he is entitled to no other compensation, severance
or other benefits other than those specifically set forth or referred to in this Agreement. 

  
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 12. Expenses. Executive will be reimbursed for all reasonable, out-of-pocket business
expenses incurred in the performance of Executive’s duties on behalf of Company. To obtain reimbursement, expenses must be submitted promptly with appropriate supporting documentation and will be reimbursed in accordance with Company’s
policies. Any reimbursement Executive is entitled to receive shall be paid within a reasonable time not to exceed thirty (30) days of submission. 
 13. Facilities and Services. The Company shall furnish the Executive with office space, secretarial and support staff, and such other facilities and services as shall be reasonably necessary for
the performance of his duties under this Agreement. 
 14. Mitigation Not Required. In the event this Agreement is
terminated, the Executive shall not be required to mitigate his losses or the amounts otherwise payable hereunder by seeking other employment or otherwise. The Executive’s acceptance of any other employment shall not diminish or impair the
amounts otherwise payable to the Executive hereunder. 
 15. Place of Performance. The Executive shall perform his duties
at the main offices of the Company subject to reasonable travel requirements which may be authorized and directed from time to time by the Board. 
 16. Insurance and Indemnity. With respect to his service hereunder, the Company shall maintain, at its expense, customary directors’ and officers’ liability and errors and omissions
insurance covering the Executive and, if such coverage is available at reasonable cost, for all other executive officers and directors of the Company, in an amount both deemed appropriate by the Company and available in the marketplace. To the
extent such defense and indemnification are not fully and irrevocably provided by Company-supplied insurance, the Company shall defend and indemnify the Executive, to the fullest extent permitted by law, from and against any liability asserted
against or incurred by the Executive (a) by reason of the fact that the Executive is or was an officer, director, employee, or consultant of the Company or is or was serving in any capacity at the direction of the Company for any other
corporation, partnership, joint venture, trust, employment benefit plan or other entity or enterprise or (b) in connection with any action(s), omission(s), or occurrence(s) during the course of such service or such status as an officer,
director, employee, or consultant of or to any of the foregoing. The Company’s obligations under this Section 16 shall survive the termination of the Executive’s employment hereunder and any termination of this Agreement. 

17. Non-Competition. 
 (a) The Executive agrees that, except in accordance with his duties under this Agreement on behalf of the Company, he will not during the Employment Period: participate in, be employed in any capacity by,
serve as director, consultant, agent or representative for, or have an interest, directly or indirectly in, any enterprise which is engaged in the business of developing, licensing, or selling technology, products or services which are directly
competitive with the Business of the Company or any of its Subsidiaries or with any technology, products or services being actively developed, with the bona fide intent to market same, by the Company or any of its Subsidiaries at the time in
question; provided, however, that interests in publicly-traded entities that constitute less than a five percent (5%) interest in such entities, and do not otherwise constitute control either directly or indirectly of such
entities, which interests were acquired or are held for investment purposes, shall not be deemed to be a violation of this paragraph. 

  
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 (b) In addition, the Executive agrees that, for a period of six (6) months after the
end of the Executive’s employment by the Company (unless such employment is terminated by the Company without Cause, or by the Executive for Good Reason, in which event the following shall be inapplicable), the Executive shall not (1) own,
either directly or indirectly or through or in conjunction with one or more members of his or his spouse’s family or through any trust or other contractual arrangement, a greater than five percent (5%) interest in, or otherwise control
either directly or indirectly, or (2) participate in, be employed in any capacity by, or serve as director, consultant, agent or representative for, any partnership, corporation, or other entity which is engaged in the business of developing,
licensing, or selling technology, products or services which are directly competitive with the Business of the Company or any of its Subsidiaries as of the termination of the Executive’s employment with the Company or which are directly
competitive with any technology, products, or services being actively developed by the Company or any of its Subsidiaries, with the bona fide intent to market same, as of the termination of the Executive’s employment at the Company. 

(c) Executive further agrees, for twelve (12) months following the end of the Executive’s employment by the Company (unless
such employment is terminated by the Company without Cause, or by the Executive for Good Reason, in which event the following shall be inapplicable), to refrain from directly or indirectly soliciting or hiring the Company’s collaborative
partners, consultants, certified research organizations, principal vendors, licensees or employees except any such solicitation in connection with activities that would not be directly competitive with and/or adverse to the Business of the Company
or any of its Subsidiaries or with and to any products or services being offered by the Company or any of its Subsidiaries at the date such employment terminated or then being actively developed, with the bona fide intent to market same, by the
Company or any of its Subsidiaries. 
 (d) Executive further agrees, while employed by the Company and for six (6) months
following the end of the Executive’s employment by the Company (unless such employment is terminated by the Company without Cause, or by the Executive for Good Reason, in which event the following shall be inapplicable), that he will not,
directly or indirectly, as a sole proprietor, member of a partnership or as a stockholder, investor, officer or director of a corporation, or as an employee, agent, associate or consultant of any person, firm or corporation, other than for the
exclusive benefit of the Company or any of its Subsidiaries, solicit or accept business from, or perform or supervise the performance of any services related to such business for, any partner of the Company or any of its Subsidiaries which was
publicly disclosed during the Executive’s employment with the Company, in whole or in part, in connection with activities that would be directly competitive with and/or adverse to the Business of the Company or any of its Subsidiaries or with
and to any products or services being offered by the Company or any of its Subsidiaries at the date such employment terminated or then being actively developed, with the bona fide intent to market same, by the Company or any of its Subsidiaries.

 (e) The Executive hereby agrees that damages and any other remedy available at law would be inadequate to redress or remedy
any loss or damage suffered by the Company upon any breach of the terms of this Section 17 by the Executive, and the Executive therefore agrees that the Company, in addition to recovering on any claim for damages or obtaining any other remedy
available at law, also may enforce the terms of this Section 17 by injunction or specific performance, and may obtain any other appropriate remedy available in equity. 

  
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 18. Assignment of Patents. Executive shall disclose fully to the Company any and all
discoveries he shall make and any and all ideas, concepts or inventions he shall conceive or make that are related or applicable to the Business of the Company or of any of its Subsidiaries or to any other products, services, or technology in
medicine or the health sciences in which the Company shall during the Employment Period undertake, or actively and in good faith consider, research or commercial involvement; provided, however, that either (a) such discovery(ies),
idea(s), concept(s) and/or invention(s) are made by the Executive during the Employment Period or (b) such discovery(ies), idea(s), concept(s) and/or invention(s) are made by the Executive during the period of six (6) months after his
employment terminates and are in whole or in part the result of his work with the Company. Such disclosure is to be made promptly after each such discovery or conception, and each such discovery, idea, concept or invention will become and remain the
property of the Company, whether or not patent applications are filed thereon. Upon the request and at the expense of the Company, the Executive shall (i) make application through the patent solicitors of the Company for letters patent of the
United States and any and all other countries at the discretion of the Company on such discoveries, ideas and inventions, and (ii) assign all such applications to the Company, or at its order, without additional payment by the Company except as
otherwise agreed by the Company and the Executive. The Executive shall give the Company, its attorneys and solicitors, reasonable assistance in preparing and prosecuting such applications and, on request of the Company, execute such papers and do
such things as shall be reasonably necessary to protect the rights of the Company and vest in it or its assigns the discoveries, ideas or inventions, applications and letters patent herein contemplated. Said cooperation shall also include such
actions as are reasonably necessary to aid the Company in the defense of its rights in the event of litigation. This Section 18 shall not apply to any invention for which no equipment, supplies, facilities, or trade secret information of the
Company or its Subsidiaries was used, and which was developed entirely on the Executive’s own time, unless (i) the invention relates directly to the Business of the Company or of any of its Subsidiaries or to the actual or demonstrably
anticipated research or development of the Company or of any of its Subsidiaries, or (ii) the invention results from any work performed by the Executive for the Company. 
 19. Confidential Information/Trade Secrets. 
 (a) In the course of the term
of this Agreement, it is anticipated that the Executive shall have access to secret or confidential technical, scientific and commercial information, records, data, formulations, specifications, systems, methods, plans, policies, inventions,
material and other knowledge that is (are) specifically related or applicable to the Business of the Company or of any of its Subsidiaries or to any other products, services, or technology in medicine or the health sciences in which the Company
shall during the Employment Period undertake, or actively and in good faith consider, research or commercial involvement and that is/are owned by the Company or its Subsidiaries (“Confidential Material”). The Executive recognizes and
acknowledges that included within the Confidential Material are the following as they may specifically relate or be applicable to the Company’s Business or technology, or to current or specifically contemplated future Company products or
services: the Company’s confidential commercial information, technology, formulations, trade secrets, know-how, methods of manufacture, chemical formulations, device designs, pending patent

  
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applications, clinical data, pre-clinical data and any related materials, all as they may exist from time to time, and that such material is or may be valuable special, and unique aspects of the
Company’s business. All such Confidential Material shall be and remain the property of the Company. Except as required by his duties to the Company, the Executive shall not, directly or indirectly, either during the term of his employment or at
any time thereafter, disclose or disseminate to anyone or make use of, for any purpose whatsoever, any Confidential Material. Upon termination of his employment, the Executive shall promptly deliver to the Company all Confidential Material
(including all copies thereof, whether prepared by the Executive or others) which are in the possession or under the control of the Executive. The Executive shall not be deemed to have breached this Section 19 if the Executive is compelled by
legal process or order of any judicial, legislative, or administrative authority or body to disclose any Confidential Material; provided that Executive shall give prompt notice of such process or order to the Company, and the Executive shall
in good faith use reasonable efforts to provide the Company the opportunity to intervene in the event Executive may be compelled to disclose Confidential Information of the Company pursuant to such process or order. 

(b) The Executive hereby agrees that damages and any other remedy available at law would be inadequate to redress or remedy any loss or
damage suffered by the Company upon any breach of the terms of this Section 19 by the Executive, and the Executive therefore agrees that the Company, in addition to recovering on any claim for damages or obtaining any other remedy available at
law, also may enforce the terms of this Section 19 by injunction or specific performance, and may obtain any other appropriate remedy available in equity. 
 20. Intentionally Omitted. 
 21. Notices. Any notice required or permitted
to be given under this Agreement shall be sufficient if in writing and personally delivered (including by regular messenger service, signature required) or sent by registered or certified mail, return receipt requested, to both his office and his
residence, in the case of notices directed to the Executive, or to its principal office, Attn.: Chief Financial Officer, in the case of notices directed to the Company, or to such other address and/or addressee as the party to whom such notice is
directed shall have designated for this purpose by notice to the other in accordance with this Section. Such notices shall be effective upon personal delivery or three (3) days after mailing. 

22. Entire Agreement; Waiver. This Agreement contains the entire understanding of the parties with respect to the subject matter
hereof (it being acknowledged, however, that the Company and the Executive may enter into certain grant agreements relating to Outstanding Options which shall be effective in accordance with the terms thereof ). This Agreement may not be changed
orally but only by an instrument in writing, signed by the party against whom enforcement of any waiver, change, modification or discharge is sought. Waiver of or failure to exercise any rights provided by this Agreement in any respect shall not be
deemed a waiver of any further or future rights. 
 23. Binding Effect; Assignment. The rights and obligations of this
Agreement shall bind and inure to the benefit of any successor of the Company by reorganization, merger or consolidation, or any transferee of all or substantially all of the Company’s business or properties. The Executive’s rights
hereunder are personal to and shall not be transferable nor assignable by the Executive. 

  
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 24. Headings. The headings contained in this Agreement are for reference purposes
only and shall not affect the meaning or interpretation of this Agreement. 
 25. Governing Law; Arbitration. This
agreement shall be construed in accordance with and governed for all purposes by the laws of the State of Washington applicable to contracts made and to be performed wholly within such state. Except as otherwise provided in Section 17(e) of
this Agreement, any dispute or controversy arising out of or relating to this Agreement shall be settled by arbitration in accordance with the rules of the American Arbitration Association, and judgment upon the award may be entered in any court
having jurisdiction thereover. The arbitration shall be held in King County, Washington or in such other place as the parties hereto may agree. 
 26. Further Assurances. Each of the parties agrees to execute, acknowledge, deliver and perform, and cause to be executed, acknowledged, delivered and performed, at any time and from time to time,
all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and/or assurances as may be necessary or proper to carry out the provisions or intent of this Agreement. 

27. Severability. The parties agree that if any one or more of the terms, provisions, covenants or restrictions of this Agreement
shall be determined by a court of competent jurisdiction to be invalid, void, or unenforceable, 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. 
 28. Application of Section 409A. 

(a) Notwithstanding anything set forth in this Agreement to the contrary, no amount payable pursuant to this Agreement which constitutes
a “deferral of compensation” within the meaning of Section 409A of the Code (“Section 409A”) shall be paid unless and until the Executive has incurred a “separation from service” within the meaning of
Section 409A. In the event that any payment or benefit made hereunder or under any compensation plan, program or arrangement of the Company would constitute payments or benefits pursuant to a non-qualified deferred compensation plan within the
meaning of Section 409A and, at the time of Executive’s “separation from service” Executive is a “specified employee” within the meaning of Section 409A, then any such payments or benefits shall be delayed until
the six-month anniversary (the “Delayed Payment Date”) of the date of Executive’s “separation from service” or, if earlier, the date of the Executive’s death following such separation from service. All such
amounts that would, but for this Section 28, become payable prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date. 
 (b) The Company intends that income provided to the Executive pursuant to this Agreement will not be subject to taxation under Section 409A. The provisions of this Agreement shall be interpreted and
construed in favor of satisfying any applicable requirements of Section 409A. The Company and the Executive agree to negotiate in good faith to reform any provisions of this Agreement to maintain to the maximum extent practicable the original
intent of the applicable provisions without violating the provisions of Section 409A, if the Company deems such reformation necessary or advisable pursuant to guidance under Section 409A to avoid the incurrence of any such interest and
penalties. Such reformation shall not result in a reduction of the aggregate amount of payments or benefits under this Agreement. However, the 

  
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Company does not guarantee any particular tax effect for income provided to the Executive pursuant to this Agreement. In any event, except for the Company’s responsibility to withhold
applicable income and employment taxes from compensation paid or provided to the Executive, the Company shall not be responsible for the payment of any applicable taxes on compensation paid or provided to the Executive pursuant to this Agreement.

 29. Counterparts. This Agreement may be executed in several counterparts, and all counterparts so executed shall
constitute one agreement, binding on the parties hereto, notwithstanding that both parties are not signatory to the original or the same counterpart. 
 [remainder of page intentionally left blank; signature page follows] 

  
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 IN WITNESS WHEREOF, MARINA BIOTECH, INC. has caused this instrument to be signed by a duly
authorized officer and the Executive has hereunto set his hand as of the day and year set forth below. 
  

											
	 Company:
	 		 	MARINA BIOTECH, INC.
					
		 		 		 	By:	 	 /s/ J. Michael French

		 		 		 		 	 Name:
	 	J. Michael French
		 		 		 		 	 Title:
	 	Chief Executive Officer
		 		 		 		 	 Date:
	 	 September 7, 2011

				
	 Executive:
	 		 		 	 /s/ Philip C. Ranker

		 		 		 		 	 Name:
	 	Philip C. Ranker
		 		 		 		 	 Date:
	 	 September 7, 2011Second Supplement to Master Note Purchase Agreement

 Exhibit 10.3 

 
  

 
 PERRIGO COMPANY 

 
  

SECOND SUPPLEMENT TO MASTER NOTE PURCHASE AGREEMENT 

 
  

Dated as of September 1, 2011 
 $75,000,000 4.27% Senior Notes, Series 2011-A, due September 30, 2021 

$175,000,000 4.52% Senior Notes, Series 2011-B, due December 15, 2023 

$100,000,000 4.67% Senior Notes, Series 2011-C, due September 30, 2026 

 
  

 

 PERRIGO COMPANY 

515 Eastern Avenue 

Allegan, MI 49010 

Phone: 269-673-8451 

Fax: 269-673-7534 

SECOND SUPPLEMENT TO MASTER NOTE PURCHASE AGREEMENT 
 DATED AS OF MAY 29, 2008 
 Dated as of September 1, 2011 

TO EACH OF THE PURCHASERS LISTED 
 IN THE
ATTACHED SCHEDULE A: 
 Ladies and Gentlemen: 
 This Second Supplement to Master Note Purchase Agreement (this “Second Supplement” or this “Agreement”) is among PERRIGO COMPANY, a Michigan corporation (the
“Company”), and the institutional investors named on the attached Schedule A (collectively, the “Purchasers”) hereto. 
 Reference is hereby made to the Master Note Purchase Agreement, dated as of May 29, 2008, by and among the Company and the purchasers listed on Schedule A thereto, as amended by that certain First
Amendment to Master Note Purchase Agreement dated as of April 29, 2010, as supplemented by that certain First Supplement to Master Note Purchase Agreement dated as of April 30, 2010 (as so amended and supplemented, and as may be further
amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”). Capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Note Purchase Agreement.
Reference is further made to Section 1.2 of the Note Purchase Agreement, which provides that each series of Additional Notes will be issued pursuant to a Supplement. 
 The Company agrees with the Purchasers as follows: 
 1. Authorization of the
New Series of Additional Notes. The Company has authorized the issue and sale of $75,000,000 in aggregate principal amount of Notes to be designated as its 4.27% Senior Notes, Series 2011-A, due September 30, 2021 (the “Series
2011-A Notes”), $175,000,000 in aggregate principal amount of Notes to be designated as its 4.52% Senior Notes, Series 2011-B, due December 15, 2023 (the “Series 2011-B Notes”), and $100,000,000 in aggregate principal
amount of Notes to be designated as its 4.67% Senior Notes, Series 2011-C, due September 30, 2026 (the “Series 2011-C Notes”, and together with the Series 2011-A Notes and the Series 2011-B Notes, collectively, the
“Series 2011 Notes”, such term to include any such notes issued in substitution therefor pursuant to Section 13 of the Note Purchase Agreement). The Series 2011 Notes, together with the Series 2008 Notes and Series 2010 Notes
heretofore issued pursuant to the Note Purchase Agreement and each series of 

 
Additional Notes that may from time to time hereafter be issued pursuant to the provisions of Section 1.2 of the Note Purchase Agreement, are collectively referred to as the
“Notes” (such term shall also include any such notes issued in substitution therefor pursuant to Section 13 of the Note Purchase Agreement). The Series 2011-A Notes shall be substantially in the form set out in Exhibit
1-A to this Second Supplement, the Series 2011-B Notes shall be substantially in the form set out in Exhibit 1-B to this Second Supplement, and the Series 2011-C Notes shall be substantially in the form set out in Exhibit 1-C to
this Second Supplement, in each case with such changes therefrom, if any, as may be approved by the Company and the Purchasers of such series of Notes. 
 2. Sale and Purchase of Series 2011 Notes. Subject to the terms and conditions herein and in the Note Purchase Agreement, the Company will issue and sell to each Purchaser and each Purchaser
will purchase from the Company, at the Closings provided for in Section 3, Series 2011 Notes in the series and in the principal amount specified opposite such Purchaser’s name in the attached Schedule A at the purchase price of 100% of the
principal amount thereof. The obligations of the Purchasers are several and not joint obligations and each Purchaser shall have no liability to any Person for the performance or non-performance by any other Purchaser hereunder. 

3. Closing. The sale and purchase of the Series 2011 Notes to be purchased by each Purchaser shall occur at the offices of
Bingham McCutchen LLP, 399 Park Avenue, New York, New York 10022-4689. The sale and purchase of the Series 2011-A Notes and the Series 2011-C Notes (the “Series 2011-A&C Closing”) shall occur at approximately 9:00 a.m., New York
time, on September 30, 2011 or on such other Business Day thereafter as may be agreed upon by the Company and each of the Purchasers (the “Series 2011-A&C Closing Date”). The sale and purchase of the Series 2011-B Notes
(the “Series 2011-B Closing” and, together with the Series 2011-A&C Closing, each a “Closing”) shall occur at approximately 9:00 a.m., New York time, on December 15, 2011 or on such other Business Day
thereafter as may be agreed upon by the Company and each of the Purchasers (the “Series 2011-B Closing Date” and, together with the Series 2011-A&C Closing Date, each a “Closing Date”). At each Closing, the
Company will deliver to each Purchaser the Series 2011 Notes to be purchased by such Purchaser at such Closing in the form of a single Note (or such greater number of Series 2011 Notes in denominations of at least $500,000 as such Purchaser may
request) dated the date of such Closing and registered in such Purchaser’s name (or in the name of such Purchaser’s nominee), against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of
the purchase price therefor by wire transfer of immediately available funds for the account of the Company to Account 860523, Perrigo Company at JPMorgan Chase Bank, N.A., 277 Park Avenue, New York, New York 10172, ABA No. 021000021. If at
either Closing the Company fails to tender such Series 2011 Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s satisfaction,
such Purchaser shall, at such Purchaser’s election, be relieved of all further obligations under this Agreement, without thereby waiving any rights such Purchaser may have by reason of such failure or such nonfulfillment. 

  
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 4. Conditions to Second Supplement Closings. Each Purchaser’s obligation
to purchase and pay for the Series 2011 Notes to be sold to such Purchaser at either Closing is subject to the fulfillment to such Purchaser’s reasonable satisfaction, prior to or at such Closing, of the conditions set forth below: 

(a) Each of the representations and warranties of the Company set forth in Section 8 hereof shall be correct in all
material respects (except those representations and warranties that are qualified by materiality, which will be correct in all respects) when made and as of the date of such Closing (it being understood that representations and warranties that speak
as of a specific date or time need only be correct as of such date or time). 
 (b) Contemporaneously with such
Closing, the Company shall sell to each Purchaser, and each Purchaser shall purchase, the Series 2011 Notes to be purchased by such Purchaser at such Closing as specified in Schedule A to this Second Supplement. 

(c) Each Purchaser shall have received opinions in form and substance satisfactory to such Purchaser, dated the applicable
Closing Date (i) from Warner Norcross & Judd LLP, special counsel for the Company, covering the matters set forth in Exhibit 4(c)(i) to this Second Supplement and covering such other matters incident to the transactions
contemplated hereby as such Purchaser or its counsel may reasonably request (and the Company instructs its counsel to deliver such opinions to the Purchasers), and (ii) from Bingham McCutchen LLP, the Purchasers’ special counsel in
connection with such transactions, substantially in the form set forth in Exhibit 4(c)(ii) to this Second Supplement and covering such other matters incident to such transactions as such Purchasers may reasonably request. 

(d) Private Placement Numbers issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO)
shall have been obtained by Bingham McCutchen LLP for each series of the Series 2011 Notes. 
 (e) The Company
shall have delivered to each Purchaser an Officer’s Certificate, dated the applicable Closing Date, certifying that the conditions specified in clauses (a), (g) and (k) have been fulfilled, and the Company and each Subsidiary
Guarantor shall have executed and delivered a certificate of its Secretary or an Assistant Secretary, dated the applicable Closing Date, certifying as to the resolutions attached thereto, its organizational documents and other corporate proceedings
relating to the authorization, execution and delivery of the Series 2011 Notes and this Second Supplement. 
 (f)
Each Purchaser shall have executed and delivered to the Collateral Agent a Form of Acknowledgement and Joinder to the Collateral Agency and Intercreditor Agreement, substantially in the form attached as Exhibit A to the Intercreditor Agreement.

 (g) (i) The Required 2008 Noteholders (as defined in the Intercreditor Agreement) (or an authorized agent
on their behalf) shall have delivered a notice to the Secured Parties (as defined in the Intercreditor Agreement) regarding an increase in the 

  
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Permitted Limit (as defined in the Intercreditor Agreement) in the amount of $175,000,000 in accordance with the notice procedures under the Intercreditor Agreement at least fifteen Business Days
(as defined in the Intercreditor Agreement), but not more than thirty Business Days (as defined in the Intercreditor Agreement), prior to each Closing Date, and (ii) no Secured Party (as defined in the Intercreditor Agreement) shall have
responded with a notice in accordance with the notice procedures under the Intercreditor Agreement within ten Business Days (as defined in the Intercreditor Agreement) of receipt of such notice in clause (i) stating that an Event of Default (as
defined in the Intercreditor Agreement) exists or that such specified increase in the Permitted Limit (as defined in the Intercreditor Agreement) would cause an Event of Default (as defined in the Intercreditor Agreement). 

(h) The Company shall have performed and complied with all agreements and conditions contained in this Agreement required
to be performed or complied with by it prior to or at such Closing, and, after giving effect to the issue and sale of the Series 2011 Notes (and the application of the proceeds thereof as contemplated hereby), no Default or Event of Default shall
have occurred and be continuing. 
 (i) On the applicable Closing Date, each Purchaser’s purchase of the
Series 2011 Notes to be purchased by such Purchaser on such Closing Date shall (i) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as Section 1405(a)(8)
of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment, (ii) not violate any applicable law or regulation (including, without limitation,
Regulation U, T or X of the Board of Governors of the Federal Reserve System) and (iii) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation, which law or regulation was not in effect
on the date hereof. If reasonably requested by any Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable it to determine whether such
purchase is so permitted. 
 (j) Without limiting the provisions of Section 15.1 of the Note Purchase
Agreement, the Company shall have paid on or before each Closing Date the reasonable and properly documented fees, charges and disbursements of the Purchasers’ special counsel to the extent reflected in a statement of such counsel rendered to
the Company at least one Business Day prior to such Closing Date. 
 (k) At least three Business Days prior to
the applicable Closing Date, each Purchaser shall have received written instructions signed by a Responsible Officer on letterhead of the Company confirming the information specified in Section 3 hereof, including (i) the name and address
of the transferee bank, (ii) such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Series 2011 Notes to be purchased on such Closing Date is to be deposited. 

  
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 (l) Except as set forth on Schedule 4(l) attached hereto, the Company
shall not have changed its jurisdiction of incorporation or been a party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other entity, at any time since June 25, 2011. 

(m) The Company shall have delivered fully executed copies of (i) the Credit Agreement, dated as of October 8,
2010, by and among the Company, the foreign Subsidiaries party thereto as borrowers, JPMorgan Chase Bank, as Administrative Agent, and the other agents and lenders party thereto, together with all amendments, supplements, waivers or modifications
thereto through the date of the applicable Closing Date, and (ii) the Term Loan Agreement, together with all amendments, supplements, waivers or modifications thereto through such Closing Date, (iii) the Term Loan Agreement dated as of
January 20, 2011 among the Company, JPMorgan Chase Bank, as Administrative Agent, and the other agents and lenders party thereto, together with all amendments, supplements, waivers or modifications thereto through such Closing Date, and
(iv) the Subsidiary Guaranty, each other Guaranty executed in respect of the Notes (if any) and all of the Collateral Documents, in each case certified in an Officer’s Certificate as being the true, correct and complete copies thereof as
of such Closing Date. 
 (n) There shall have been no amendments, waivers or other modifications to the Note
Purchase Agreement, the Subsidiary Guaranty, the Intercreditor Agreement or the Collateral Documents on or subsequent to the date hereof and on or prior to such Closing. 

(o) All corporate and other proceedings in connection with the transactions contemplated by this Second Supplement and all
documents and instruments incident to such transactions shall be reasonably satisfactory to each Purchaser and its special counsel, and each Purchaser and its special counsel shall have received all such counterpart originals or certified or other
copies of such documents as it or they may reasonably request. 
 5. Prepayments; Maturity; Additional Interest.

 (a) No Required Prepayments; Maturity. No regularly scheduled prepayments are due on the Series 2011-A
Notes, the Series 2011-B Notes and the Series 2011-C Notes prior to their respective stated maturities. The entire unpaid principal balance of the Series 2011-A Notes, the Series 2011-B Notes and the Series 2011-C Notes shall be due and payable on
the stated maturity thereof. 
 (b) Other Prepayment Provisions. The prepayment provisions set forth in
Sections 8.2, 8.3, 8.4, 8.5, 8.6 and 8.7 of the Note Purchase Agreement shall apply with respect to the Series 2011 Notes. 
 (c) Additional Interest. If the Consolidated Leverage Ratio shall exceed 3.25 to 1.00 on the last day of any fiscal quarter in the circumstances contemplated by the proviso to
Section 6(a) below, the interest rate otherwise payable on the Notes shall be 

  
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increased by 0.75% (the “Incremental Interest”) effective as of the first day of the next succeeding fiscal quarter. Such Incremental Interest shall continue to accrue
through (but not beyond) the last day of the first fiscal quarter ending thereafter on which the Consolidated Leverage Ratio as of the last day of such fiscal quarter is not greater than 3.25 to 1.00. 

6. Additional Covenants, etc. 
 (a) Consolidated Leverage Ratio. The Company will not permit the Consolidated Leverage Ratio, as of the end of any fiscal quarter, to be greater than 3.25 to 1.00; provided that, upon delivery of a
notice invoking this proviso by the Company to the holders of the Notes not later than the last day of the fiscal quarter in which a Qualified Acquisition is consummated, such ratio may be greater than 3.25 to 1.00, but in no event greater than
3.50 to 1.00, on such last day and on the last day of each of the three fiscal quarters next succeeding such fiscal quarter, so long as the Company has paid all interest that has become due on the Notes (including, without limitation, all
Incremental Interest payable pursuant to Section 5(c) of this Second Supplement) on or prior to each such date. 
 Notwithstanding anything contained in the Note Purchase Agreement, for purposes of determining compliance with the Consolidated Leverage Ratio pursuant to this Section 6(a), any election by the
Company or its Subsidiaries to measure an item of its Indebtedness using fair value (as permitted by FASB ASC 825-10-25 - Fair Value Option (formerly known as Statement of Financial Accounting Standards No. 159) or International Accounting
Standard 39 or any similar accounting standard) shall be disregarded and such determination shall be made as if such election had not been made. 
 (b) Interest Coverage. The Company will not permit the ratio of Consolidated EBIT to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal
quarters) to be less than 3.00 to 1.00 at any time. 
 (c) Priority Debt. The Company will not at any time
permit Priority Debt to exceed 15% of Consolidated Adjusted Total Assets as of the end of the most recently completed fiscal quarter. 
 Notwithstanding anything contained in the Note Purchase Agreement, for purposes of determining compliance with this Section 6(c), any election by the Company or its Subsidiaries to measure an item of
its Indebtedness using fair value (as permitted by FASB ASC 825-10-25 - Fair Value Option (formerly known as Statement of Financial Accounting Standards No. 159) or International Accounting Standard 39 or any similar accounting standard) shall
be disregarded for purposes of determining the amount of Priority Debt at any time and such determination shall be made as if such election had not been made. 
 (d) Remuneration for Amendments and Waivers. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of

  
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supplemental or additional interest, fee or otherwise, to any holder of Notes as consideration for or as an inducement to the entering into by any holder of Notes of any waiver or amendment of
any of the terms and provisions hereof or of the Note Purchase Agreement, the Subsidiary Guaranty or the Collateral Documents, unless (i) such remuneration is concurrently paid, on the same terms, ratably to each holder of Notes then
outstanding that also enters into such waiver or amendment, and (ii) an amount equal to 50% of such remuneration is concurrently paid, on the same terms, ratably to each holder of Notes then outstanding that does not consent to such waiver or
amendment. If, in the case of any waiver or amendment of any of the terms and provisions hereof, or of the Note Purchase Agreement, the Subsidiary Guaranty or the Collateral Documents, remuneration in excess of the amount set forth in clause
(ii) above is paid to any holder of Notes that for any reason does not enter into such waiver or amendment, such excess remuneration shall also be paid to all other non-consenting holders in respect of such waiver or amendment. 

The Company will not directly or indirectly grant any security or provide other credit support to any holder of Notes as
consideration for or as an inducement to the entering into by any holder of Notes of any waiver or amendment of any of the terms and provisions hereof or of the Note Purchase Agreement, the Subsidiary Guaranty or the Collateral Documents, unless
such security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver or amendment. 

(f) Make-Whole Amount. All references to “actively traded U.S. Treasury securities” or “actively
traded U.S. Treasury security” in the definition of “Reinvestment Yield” in Section 8.7 of the Note Purchase Agreement shall be deemed to refer to “actively traded on-the-run U.S. Treasury securities” or “actively
traded on-the-run U.S. Treasury security”, respectively. 
 (g) Loan Agreements. All references to
the “Loan Agreements” shall be deemed to be references to the agreements referenced in clauses (i) to (iii), inclusive, of Section 4(m) of this Second Supplement, as each of such agreements may hereafter be amended, restated,
supplemented, modified, refinanced, extended or replaced, and any successor credit agreement or similar facility. 
 (h) Subsidiary Guarantees. For the avoidance of doubt, the requirements of Section 9.7(a) apply to Subsidiaries that become guarantors of Indebtedness in respect of the Loan Agreements after
previously having been released from such obligations. Accordingly, each time a Subsidiary becomes a guarantor of Indebtedness in respect of the Loan Agreements, notwithstanding any intervening release from such obligations, it must become a party
to the Subsidiary Guaranty and comply with the other requirements set forth in Section 9.7(a). 
 7. Events of
Default. The Company hereby acknowledges and agrees that (i) the failure of the Company to comply with Section 6(a) or Section 6(b) above as of the end of any fiscal quarter of the Company or its failure to comply with
Section 6(c) above at any time shall 

  
 7 

 
constitute an Event of Default under Section 11(c) of the Note Purchase Agreement; (ii) the failure of the Company to comply with Section 6(d) above shall constitute an Event of
Default under Section 11(d) of the Note Purchase Agreement; (iii) any default by the Company in the performance of or compliance with Section 9.8(b) of the Note Purchase Agreement shall constitute an Event of Default under
Section 11(c) of the Note Purchase Agreement (for the avoidance of doubt, nothing contained in this clause (iii) shall be deemed to change or modify the 10 Business Day period for delivery of any new Joinder to the Subsidiary Guaranty
(together with all related documents and opinions) set forth in Section 9.7(a) of the Note Purchase Agreement); and (iv) for the avoidance of doubt, the representations and warranties set forth in Section 8 of this Second Supplement
constitute representations and warranties made in a writing furnished by the Company furnished in connection with the transactions contemplated by the Note Purchase Agreement for purposes of Section 11(e) of the Note Purchase Agreement.

 8. Representations and Warranties. The Company hereby represents and warrants to each Purchaser as follows:

  

	 	8.1	Organization; Power and Authority. 

 The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and is duly qualified and is in good standing in each jurisdiction
in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The
Company has the corporate power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. At the date of the Closing of the Series 2008 Notes,
the Company had the corporate power and authority to execute and deliver the Note Purchase Agreement and the Series 2008 Notes. On the date of the First Supplement Closing, the Company had the corporate power and authority to execute and deliver the
Series 2010 Notes. On the date hereof, the Company has the corporate power and authority to execute and deliver this Second Supplement and the Series 2011 Notes and to perform the provisions of the Note Purchase Agreement (as supplemented hereby)
and the Notes. 
  

	 	8.2	Authorization, etc. 

 The
Note Purchase Agreement, this Second Supplement, the Collateral Documents to which the Company is a party and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and the Note Purchase Agreement and the
Collateral Documents constitute, and upon execution and delivery hereof and thereof, this Second Supplement and each Series 2011 Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, fraudulent transfer, moratorium or other similar laws affecting the enforcement of creditors’
rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

  
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 The Subsidiary Guaranty, this Second Supplement and the Collateral Documents to which it is
a party have been duly authorized by all necessary corporate or limited liability company action on the part of each Subsidiary Guarantor and the Subsidiary Guaranty and the Collateral Documents to which it is a party constitute and, upon execution
and delivery hereof this Second Supplement will constitute, the legal, valid and binding obligations of each Subsidiary Guarantor, enforceable against each Subsidiary Guarantor in accordance with their terms, except as such enforceability may be
limited by (i) applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, fraudulent transfer, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
  

	 	8.3	Disclosure. 

 The Company,
through its agents, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, has delivered to each Purchaser a copy of a Private Placement Memorandum, dated July 2011 (the “Second Supplement
Memorandum”), relating to the transactions contemplated by this Second Supplement. The Note Purchase Agreement, the Second Supplement Memorandum (including the Company’s SEC filings referred to therein), the documents, certificates or
other writings delivered to the Purchasers by or on behalf of the Company identified in Schedule 8.3 to this Second Supplement by or on behalf of the Company in connection with the transactions contemplated by the Note Purchase Agreement and
this Second Supplement and the financial statements listed in Schedule 8.5 to this Second Supplement (the Note Purchase Agreement, this Second Supplement, the Second Supplement Memorandum and such documents, certificates or other writings and
such financial statements delivered to each Purchaser prior to July 23, 2011 being referred to, collectively, as the “Second Supplement Disclosure Documents”), taken as a whole, do not contain any untrue statement of a material
fact or omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under which they were made; provided, that, with respect to projected financial information, the Company represents only
that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. Except as disclosed in the Second Supplement Disclosure Documents, since June 25, 2011, there has been no change in the financial
condition, operations, business, properties or prospects of the Company or any Subsidiary except changes that individually or in the aggregate could not reasonably be expected to have a Material Adverse Effect. There is no fact known to the Company
that could reasonably be expected to have a Material Adverse Effect that has not been set forth herein or in the Second Supplement Disclosure Documents. 
  

	 	8.4	Organization of Subsidiaries; Affiliates. 

 (a) Schedule 8.4 hereto contains complete and correct lists of: (i) the Company’s Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its
organization, and the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other Subsidiary, (ii) the Company’s Affiliates, other than Subsidiaries, and
(iii) the Company’s directors and senior officers. 

  
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 (b) Each Subsidiary identified in Schedule 8.4 hereto is a
corporation or other legal entity duly organized, validly existing and in good standing or equivalent under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and is in good standing in
each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Each such Subsidiary has the corporate or other power and authority to own or hold under lease the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, and, if a party
thereto, to execute and deliver this Second Supplement and to perform the provisions hereof and thereof. Each such Subsidiary had the corporate or other power and authority to execute and deliver the Subsidiary Guaranty and the Collateral Documents
to which it is a party at the time of execution and delivery thereof. 
 (c) No Subsidiary is a party to, or
otherwise subject to any legal, regulatory, contractual or other restriction (other than the agreements listed on Schedule 8.4 hereto and customary limitations imposed by corporate law or similar statutes) restricting the ability of such
Subsidiary to pay dividends out of profits or make any other similar distributions of profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock or similar equity interests of such Subsidiary. 

(d) The signatories to the Confirmation attached to this Second Supplement are all of the Subsidiary Guarantors as of the
date hereof. 
  

	 	8.5.	Financial Statements. 

The Company has delivered to each Purchaser a copy of the consolidated financial statements of the Company and its Subsidiaries listed on
Schedule 8.5 hereto, as filed by the Company in accordance with Regulation S-X under the Exchange Act. All of said financial statements (including in each case the related schedules and notes) as filed with the SEC in accordance with
Regulation S-X fairly present in all material respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates specified in such Schedule and the consolidated results of their operations and cash flows for
the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved, except as set forth in the notes thereto. 

 

	 	8.6	Compliance with Laws, Other Instruments, etc. 

 The execution, delivery and performance by the Company of the Note Purchase Agreement and the Collateral Documents to which it is a party did not and will not, and the execution, delivery and performance
by the Company of this Second Supplement and the Series 2011 Notes do not and will not, (i) contravene, result in any breach of, or constitute a default under, or except as contemplated by the Note Purchase Agreement, this Second Supplement and
the Collateral Documents result in the creation of any Lien in respect of any property of the Company or any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, or any other agreement or instrument to
which the Company or any 

  
 10 

 
Subsidiary is bound or by which the Company or any Subsidiary or any of their respective properties may be bound or affected, except in each case, such as could not reasonably be expected to
result in a Material Adverse Effect, (ii) violate the corporate charter or by-laws of the Company or any Subsidiary, (iii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or
ruling of any court, arbitrator or Governmental Authority applicable to the Company or any Subsidiary or (iv) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any
Subsidiary. 
 The execution, delivery and performance by each Subsidiary Guarantor of the Subsidiary Guaranty, this Second
Supplement and the Collateral Documents to which it is a party do not and will not (i) contravene, result in any breach of, or constitute a default under, or except as contemplated by the Note Purchase Agreement, this Second Supplement and the
Collateral Documents result in the creation of any Lien in respect of any property of such Subsidiary Guarantor under, any agreement or instrument, to which such Subsidiary Guarantor is bound or by which such Subsidiary Guarantor or any of its
properties may be bound or affected, except in each case, such as could not reasonably be expected to result in a Material Adverse Effect, (ii) violate the corporate charter or by-laws of such Subsidiary Guarantor, (iii) conflict with or
result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to such Subsidiary Guarantor or (iv) violate any provision of any statute
or other rule or regulation of any Governmental Authority applicable to such Subsidiary Guarantor. 
  

	 	8.7	Governmental Authorizations, etc. 

 No consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority was or is required in connection with the execution, delivery or performance by the
Company of this Second Supplement, the Note Purchase Agreement or the Notes, except for the filing of a Form 8-K with the SEC. 
  

	 	8.8	Litigation; Observance of Statutes and Orders. 

 (a) There are no actions, suits, investigations or proceedings pending or, to the knowledge of the Company threatened against or affecting the Company or any Subsidiary or any property of the Company or
any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

(b) Neither the Company nor any Subsidiary is in default under any term of any agreement or instrument to which it is a
party or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including Environmental Laws and the USA Patriot Act)
of any Governmental Authority, which default or violation, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

  
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	 	8.9	Taxes. 

 The Company and
its Subsidiaries have filed all tax returns that are required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties,
assets, income or franchises, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (i) the amount of which is not, individually or in the aggregate,
Material or (ii) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be, has established adequate reserves
in accordance with GAAP. The United States Federal income tax liabilities of the Company and its Subsidiaries have been finally determined (whether by reason of completed audits or the statute of limitations having run) for all fiscal years up to
and including the fiscal year ended June 27, 2009. 
  

	 	8.10	Title to Property; Leases. 

The Company and its Subsidiaries have good and sufficient title to, or valid leasehold interests in, their respective properties that
individually or in the aggregate are Material, including all such properties reflected in the most recent audited balance sheet referred to in Schedule 8.5 to this Second Supplement or purported to have been acquired by the Company or any
Subsidiary after said date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of Liens prohibited by the Note Purchase Agreement, except where the failure to have good title or valid leasehold
interests could not reasonably be expected to result in a Material Adverse Effect. 
  

	 	8.11	Licenses, Permits, etc. 

 (a) The Company and its Subsidiaries own or possess all licenses, permits, franchises, authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights
thereto, that are Material, without known conflict with the rights of others. 
 (b) To the best knowledge of the
Company, no product of the Company or any of its Subsidiaries infringes on any license, permit, franchise, authorization, patent, copyright, service mark, trademark, trade name or other right owned by any other Person, except that individually or in
the aggregate could not reasonably be expected to have a Material Adverse Effect. 
  

	 	8.12	Compliance with ERISA. 

 (a) The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not
reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the

  
 12 

 
Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that could reasonably be expected to result in the
incurrence of any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to
such penalty or excise tax provisions or to section 430 or 436 of the Code or section 4068 of ERISA, other than such liabilities or Liens as would not be individually or in the aggregate Material. 

(b) The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans),
determined as of the end of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report, did not exceed the aggregate current
value of the assets of such Plan allocable to such benefit liabilities by an amount that, individually, or in the aggregate for all Plans, is Material. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA
and the terms “current value” and “present value” have the meaning specified in section 3 of ERISA. 
 (c) The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of
Multiemployer Plans that individually or in the aggregate are Material. 
 (d) The expected postretirement
benefit obligation (determined as of the last day of the Company’s most recently ended fiscal year in accordance with FASB ASC 715-60, without regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of
the Company and its Subsidiaries is not Material. 
 (e) The execution and delivery of this Second Supplement and
the issuance and sale of the Series 2011 Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to
section 4975(c)(1)(A)-(D) of the Code. The representation by the Company in the first sentence of this Section 8.12(e) is made in reliance upon and subject to the accuracy of each Purchaser’s representation in Section 10 as
to the sources of the funds used to pay the purchase price of the Series 2011 Notes to be purchased by such Purchaser. 
  

	 	8.13.	Private Offering by the Company. 

 Neither the Company nor anyone acting on its behalf has offered the Series 2011 Notes or any similar securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or
negotiated in respect thereof with, any Person, other than not more than 40 Institutional Investors (as defined in clause (c) of the definition of such term) (including the Purchasers), each of which has been offered the Series 2011 Notes at a
private sale for investment. Neither the Company nor anyone acting on its behalf has taken, or will take, any action that would subject the issuance or sale of the Series 2011 Notes to the registration requirements of Section 5 of the
Securities Act or to the registration requirements of any securities or blue sky laws of any applicable jurisdiction. 

  
 13 

	 	8.14.	Use of Proceeds; Margin Regulation. 

 Net proceeds from the sale of the Series 2011 Notes will be used for general corporate purposes, which may include the repayment of Indebtedness of the Company. No part of the proceeds from the sale of
the Series 2011 Notes pursuant to this Second Supplement will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR
221) so as to involve the Company or any holder of Notes in a violation of such Regulation (or so as to require any holder of Notes to make any filing under such Regulation), or for the purpose of buying or carrying or trading in any securities
under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 25%
of the value of either the assets of the Company or the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 25% of the value of such assets. As used
in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 
  

	 	8.15	Existing Indebtedness; Future Liens. 

 (a) Except as described therein, Schedule 8.15 hereto sets forth a complete and correct list of all outstanding Indebtedness of the Company and its Subsidiaries as of August 24, 2011
(including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and guaranty thereof, if any), since which date there has been no Material change in the amounts, interest rates, sinking funds,
installment payments or maturities of the Indebtedness of the Company or its Subsidiaries. Neither the Company nor any Subsidiary is in default and no waiver of default is currently in effect, in the payment of any principal or interest on any
Indebtedness of the Company or any Subsidiary and no event or condition exists with respect to any Indebtedness of the Company or any Subsidiary that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons
to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment. 
 (b) Except as disclosed in Schedule 8.15 hereto, neither the Company nor any Subsidiary has agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise)
any of its property, whether now owned or hereafter acquired, to be subject to a Lien not permitted by Section 10.4 of the Note Purchase Agreement. 
 (c) Neither the Company nor any Subsidiary is a party to, or otherwise subject to any provision contained in, any instrument evidencing Indebtedness of the Company or such Subsidiary, any agreement
relating thereto or any other agreement (including, but 

  
 14 

 
not limited to, its charter or other organizational document) which limits the amount of, or otherwise imposes restrictions on the incurring of, Indebtedness of the Company, except as
specifically indicated in Schedule 8.15 hereto. 
  

	 	8.16.	Foreign Assets Control Regulations, etc. 

 (a) Absence of Foreign or Enemy Status. Neither the Company nor any Subsidiary is an “enemy” or an “ally of the enemy” within the meaning of section 2 of the Trading with the
Enemy Act of the United States of America (50 U.S.C. App. §§ 1 et seq.), as amended. Neither the Company nor any Subsidiary is in violation of, none of the holders of Series 2011 Notes solely as a result of purchasing, holding, receiving
any payment or exercising any rights in respect of, any Series 2011 Note, will be in violation of, and neither the issuance and sale of the Series 2011 Notes by the Company nor its use of the proceeds thereof as contemplated by this Second
Supplement will violate, (i) the Trading with the Enemy Act, as amended, the International Emergency Economic Powers Act, as amended, or any executive orders, proclamations or regulations issued pursuant thereto, or any of the foreign assets
control regulations of the United States Department of the Treasury (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto, (ii) the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act
of 1996 (Pub.L. 104-114, 110 Stat. 785 (1996)), as amended, or (iii) the USA Patriot Act. 
 (b) Blocked
Persons List and Anti-Terrorism Order. Neither the Company nor any Subsidiary (i) is a Person designated as a “Specially Designated National” or “Blocked Person” in the Specially Designated Nationals and Blocked Persons
List of the Office of Foreign Assets Control of the United States Department of the Treasury or so designated in Section 1 of the Anti-Terrorism Order, or (ii) has any investments in, or engages in any dealings or transactions with, any
Identified Person where such investments, dealings or transactions would cause the purchase, holding, or receipt of any payment or exercise of any rights in respect of, any Series 2011 Note by the holder thereof to be in violation of any of the laws
or regulations identified in clause (a) or (b) of this Section 8.16. For purposes hereof, an “Identified Person” means a Person (x) who is designated as a “Specially Designated National” or
“Blocked Person” on the list of Specially Designated Nationals and Blocked Persons published by the Office of Foreign Assets Control of the United States Department of the Treasury or designated in Section 1 of the Anti-Terrorism
Order or (y) that is the government of any country, or that is located or organized in any country, or is a department, agency or instrumentality of, or is otherwise controlled by or acting on or behalf of, directly or indirectly, the
government of any country, that is the target of any of the several economic sanctions programs administered by the Office of Foreign Assets Control of the United States Department of the Treasury (31 C.F.R. Parts 500 through 598). 

 

	 	8.17	Status under Certain Statutes. 

 Neither the Company nor any Subsidiary is subject to regulation under the Investment Company Act of 1940, as amended. 

  
 15 

	 	8.18	Environmental Matters. 

 (a) Neither the Company nor any Subsidiary has knowledge of any claim or has received any notice of any claim, and no proceeding has been instituted raising any claim against the Company or any of its
Subsidiaries or any of their respective real properties now or formerly owned, leased or operated by any of them or other assets, alleging any damage to the environment or violation of any Environmental Laws, except, in each case, such as could not
reasonably be expected to result in a Material Adverse Effect. 
 (b) Neither the Company nor any Subsidiary has
knowledge of any facts which would give rise to any claim, public or private, of violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or
operated by any of them or to other assets or their use, except, in each case, such as could not reasonably be expected to result in a Material Adverse Effect. 
 (c) Neither the Company nor any Subsidiary has stored any Hazardous Materials on real properties now or formerly owned, leased or operated by any of them and has not disposed of any Hazardous Materials in
a manner contrary to any Environmental Laws in each case in any manner that could reasonably be expected to result in a Material Adverse Effect. 
 (d) All buildings on all real properties now owned, leased or operated by the Company or any Subsidiary are in compliance with applicable Environmental Laws, except where failure to comply could not
reasonably be expected to result in a Material Adverse Effect. 
 9. Notices. All notices and communications
provided to any Purchaser under this Second Supplement or the Note Purchase Agreement shall be in writing and sent in the manner specified in Section 18 of the Note Purchase Agreement to such Purchaser or its nominee (as applicable) at the
address specified for such communications in Schedule A to this Second Supplement, or at such other address as such Purchaser or its nominee shall have specified to the Company in writing. 

10. Representations of the Purchasers. Each Purchaser represents and warrants that the representations and warranties set
forth in Section 6 of the Note Purchase Agreement are true and correct on the date hereof with respect to the purchase of the Series 2011 Notes by such Purchaser. 
 11. Applicability of Note Purchase Agreement. Except as modified by this Second Supplement, the Company and each Purchaser agree to be bound by and comply with the terms and provisions of
the Note Purchase Agreement as fully and completely as if such Purchaser were an original signatory to the Note Purchase Agreement. 

  
 16 

 12. Miscellaneous. This Agreement may be executed in any number of
counterparts, each executed counterpart constituting an original but all together only one agreement. This Second Supplement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State
of New York excluding choice of law principles of the law of such State that would require the application of the laws of a jurisdiction other than such State. The provisions of this Second Supplement may be amended, and the observance of any term
hereof may be waived, with (and only with) the written consent of the Company, each Subsidiary Guarantor and each Purchaser, except that the provisions of Sections 5, 6 and 7 hereof may only be amended in accordance with Section 17 of the Note
Purchase Agreement. 
 ******* 

  
 17 

 If you are in agreement with the foregoing, please sign the form of agreement on the
accompanying counterpart of this Agreement and return it to the Company, whereupon the foregoing shall become a binding agreement between you and the Company. 

 

			
	Very truly yours,
	
	PERRIGO COMPANY
		
	By:	 	 /s/ Judy L. Brown

	Name:	 	Judy L. Brown
	Title:	 	Executive Vice President and Chief Financial Officer

 [Signature Page to Second Supplement] 

 The foregoing is agreed to as of the date thereof. 

 

			
	NEW YORK LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Trinh Nguyen

	Name:	 	Trinh Nguyen
	Title:	 	Corporate Vice President

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

 

					
	By:	 	New York Life Investment Management LLC,
		 	Its Investment Manager
			
		 	By:	 	 /s/ Trinh Nguyen

		 	Name:	 	Trinh Nguyen
		 	Title:	 	Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 
 INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE 
 ACCOUNT (BOLI 3-2) 

 

					
	By:	 	New York Life Investment Management LLC,
		 	Its Investment Manager
			
		 	By:	 	 /s/ Trinh Nguyen

		 	Name:	 	Trinh Nguyen
		 	Title:	 	Director

 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 
 INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE 
 ACCOUNT (BOLI 30C) 

 

					
	By:	 	New York Life Investment Management LLC,
		 	Its Investment Manager
			
		 	By:	 	 /s/ Trinh Nguyen

		 	Name:	 	Trinh Nguyen
		 	Title:	 	Director

  
 [Signature
Page to Second Supplement] 

			
	TEACHERS INSURANCE AND ANNUITY
	ASSOCIATION OF AMERICA
		
	By:	 	 /s/ Brian K. Roelke

	Name:	 	Brian K. Roelke
	Title:	 	Managing Director

  
 [Signature
Page to Second Supplement] 

			
	THRIVENT FINANCIAL FOR LUTHERANS
		
	By:	 	 /s/ Alan D. Onstad

	Name:	 	Alan D. Onstad
	Title:	 	Senior Director

  
 [Signature
Page to Second Supplement] 

			
	MONY LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Amy Judd

	Name:	 	Amy Judd
	Title:	 	Investment Officer
	
	AXA EQUITABLE LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Amy Judd

	Name:	 	Amy Judd
	Title:	 	Investment Officer

  
 [Signature
Page to Second Supplement] 

			
	HORIZON BLUE CROSS BLUE SHIELD OF NEW JERSEY
		
	By:	 	AllianceBernstein, its Investment Advisor
		
	By:	 	 /s/ Amy Judd

	Name:	 	Amy Judd
	Title:	 	Senior Vice President

  
 [Signature
Page to Second Supplement] 

					
	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	By:	 	PPM America, Inc., as attorney in fact, on behalf of Jackson National Life Insurance Company
			
		 	By:	 	 /s/ Curtis A. Spillers

		 	Name:	 	Curtis A. Spillers
		 	Title:	 	Vice President

  
 [Signature
Page to Second Supplement] 

					
	ING LIFE INSURANCE COMPANY LTD.
		
	By:	 	ING Investment Management LLC, as Attorney in fact
			
		 	By:	 	 /s/ Paul Aronson

		 	Name:	 	Paul Aronson
		 	Title:	 	Senior Vice President
	
	ING LIFE INSURANCE AND ANNUITY COMPANY
	ING USA ANNUITY AND LIFE INSURANCE COMPANY
	RELIASTAR LIFE INSURANCE COMPANY
	RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
		
	By:	 	ING Investment Management LLC, as Agent
			
		 	By:	 	 /s/ Paul Aronson

		 	Name:	 	Paul Aronson
		 	Title:	 	Senior Vice President

  
 [Signature
Page to Second Supplement] 

			
	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
		
	By:	 	 /s/ Eve Hampton

	Name:	 	Eve Hampton
	Title:	 	Vice President, Investments
		
	By:	 	 /s/ Paul Runnalls

	Name:	 	Paul Runnalls
	Title:	 	Manager, Investments
	
	FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
		
	By:	 	 /s/ Eve Hampton

	Name:	 	Eve Hampton
	Title:	 	Vice President, Investments, GWL&A
		
	By:	 	 /s/ Paul Runnalls

	Name:	 	Paul Runnalls
	Title:	 	Manager, Investments, GWL&A

  
 [Signature
Page to Second Supplement] 

					
	PRINCIPAL LIFE INSURANCE COMPANY
		
	By:	 	Principal Global Investors, LLC
		 	a Delaware limited liability company, its authorized signatory
			
		 	By:	 	 /s/ Adrienne L. McFarland

		 	Name:	 	Adrienne L. McFarland
		 	Title:	 	Counsel
			
		 	By:	 	 /s/ James C. Fifield

		 	Name:	 	James C. Fifield
		 	Title:	 	Assistant General Counsel

  
 [Signature
Page to Second Supplement] 

					
	AMERICAN UNITED LIFE INSURANCE COMPANY
		
	By:	 	 /s/ John C. Mason

	Name:	 	John C. Mason
	Title:	 	Vice President, Fixed Income Securities
	
	THE STATE LIFE INSURANCE COMPANY
		
	By:	 	American United Life Insurance Company
	Its:	 	Agent
			
		 	By:	 	 /s/ John C. Mason

		 	Name:	 	John C. Mason
		 	Title:	 	Vice President, Fixed Income Securities
	
	PIONEER MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	American United Life Insurance Company
	Its:	 	Agent
			
		 	By:	 	 /s/ John C. Mason

		 	Name:	 	John C. Mason
		 	Title:	 	Vice President, Fixed Income Securities

  
 [Signature
Page to Second Supplement] 

			
	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Timothy S. Collins

	Name:	 	Timothy S. Collins
	Its:	 	Authorized Representative

  
 [Signature
Page to Second Supplement] 

			
	TRANSAMERICA LIFE (BERMUDA) LTD
		
	By:	 	 /s/ Christopher D. Pahlke

	Name:	 	Christopher D. Pahlke
	Title:	 	Authorized Signatory

  
 [Signature
Page to Second Supplement] 

					
	BANKERS LIFE AND CASUALTY COMPANY
	CONSECO LIFE INSURANCE COMPANY
	WASHINGTON NATIONAL INSURANCE COMPANY
		
	By:	 	40|86 Advisors, Inc. acting as Investment Advisor
			
		 	By:	 	 /s/ Timothy L. Powell

		 	Name:	 	Timothy L. Powell
		 	Title:	 	Vice President

  
 [Signature
Page to Second Supplement] 

			
	ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
		
	By:	 	 /s/ David Puckett

	Name:	 	David Puckett
		
	By:	 	 /s/ Steven E. Shebik

	Name:	 	Steven E. Shebik
		 	Authorized Signatories
	
	AMERICAN HERITAGE LIFE INSURANCE COMPANY
		
	By:	 	 /s/ David Puckett

	Name:	 	David Puckett
		
	By:	 	 /s/ Steven E. Shebik

	Name:	 	Steven E. Shebik
		 	Authorized Signatories

  
 [Signature
Page to Second Supplement] 

			
	UNITED OF OMAHA LIFE INSURANCE COMPANY
		
	By:	 	 /s/ Justin P. Kavan

	Name:	 	Justin P. Kavan
	Title:	 	Vice President

  
 [Signature
Page to Second Supplement] 

			
	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
		
	By:	 	 /s/ Annette M. Masterson

	Name:	 	Annette M. Masterson
	Title:	 	Vice President

  
 [Signature
Page to Second Supplement] 

					
	ACACIA LIFE INSURANCE COMPANY
		
	By:	 	Summit Investment Advisors, Inc., as Agent
			
		 	By:	 	 /s/ Andrew S. White

		 	Name:	 	Andrew S. White
		 	Title:	 	Managing Director-Private Placements

  
 [Signature
Page to Second Supplement] 

 CONFIRMATION 
 Each of the undersigned acknowledges receipt of the foregoing Second Supplement to Master Note Purchase Agreement dated as of September 1, 2011 and confirms (a) the continuing validity and
enforceability against such undersigned of the Guaranty to which such undersigned is a party, (b) that the Series 2011 Notes shall be included in the term “Notes” as used in such Guaranty, and (c) that references in such Guaranty
to the “Note Purchase Agreement” shall mean the Note Purchase Agreement as modified by the foregoing Second Supplement. 
  

			
	L. PERRIGO COMPANY
	 PERRIGO COMPANY OF SOUTH CAROLINA, INC.

	PERRIGO PHARMACEUTICALS COMPANY
	PERRIGO INTERNATIONAL, INC.
	PERRIGO INTERNATIONAL HOLDINGS, INC.
	 PERRIGO INTERNATIONAL HOLDINGS II, INC.

	PBM HOLDINGS, LLC
	PBM NUTRITIONALS, LLC
	PERRIGO HOLLAND, INC.
	PERRIGO FLORIDA, INC.
	PERRIGO NEW YORK, INC.
	CHEMAGIS USA INC.
	PADDOCK LABORATORIES, LLC
		
	By:	 	 /s/ Judy L. Brown

	Name:	 	Judy L. Brown
	Title:	 	Executive Vice President and Chief Financial Officer

  
 [Signature
Page to Second Supplement] 

 Schedule A to Second Supplement 

INFORMATION RELATING TO PURCHASERS 
  

					
	Purchaser Name	  	NEW YORK LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	NEW YORK LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	 2011-B-1; $14,500,000
  

2011-C-1; $21,500,000

		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
			
		  	Description of Security:	  	4.52% Senior Note, Series 2011-B, due
		  		  	December 15, 2023
			
		  	PPN:	  	714290 C@0
			
		  	Description of Security:	  	4.67% Senior Note, Series 2011-C, due
		  		  	September 30, 2026
			
		  	PPN:	  	714290 C#8
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments, written confirmations of such wire transfers and any audit confirmation:	  	 New York Life Insurance Company
 c/o New York Life Investment Management LLC
 51 Madison Avenue

2nd Floor, Room 208
 New York, New York
10010-1603
 Attention: Securities Operations Private Group
 Fax #:  (908) 840-3385
  
 With a copy sent via Email to: FIIGLibrary@nylim.com and TraditionalPVtOps@nylim.com

  
 Schedule A-1

			
	Purchaser Name	 	NEW YORK LIFE INSURANCE COMPANY
		
	Address / Fax # for all other notices	 	 New York Life Insurance Company
 c/o New York Life Investment Management LLC
 51 Madison Avenue

2nd Floor, Room 208
 Attention:  Fixed
Income Investors Group, Private Finance
 Fax #:  (212) 447-4122

 
 With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com
  
 with a copy of any notices regarding defaults or Events of Default under the operative documents to:
  

Attention:  Office of General Counsel

Investment Section, Room 1016
 Fax
#:  (212) 576-8340

		
	Instructions re Delivery of Notes	 	 New York Life Investment Management LLC
 51 Madison Avenue
 New York, New York 10010
 Attn:  Matthew DelRosso, Esq.

		
	Signature Block	 	NEW YORK LIFE INSURANCE COMPANY
		
		 	By:
                                         
                                       

		 	Name:
		 	Title:
		
	Tax identification number	 	13-5582869

  
 Schedule A-2

					
	Purchaser Name	  	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
		
	Name in which to register Note(s)	  	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
		
	Note registration number(s); principal amount(s)	  	 2011-B-2; $22,500,000
  

2011-C-2; $21,000,000

			
	Payment on account of Note	  		  	
		
	 Method
	  	Federal Funds Wire Transfer
			
	 Account information
	  		  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
			
		  	Description of Security:	  	4.52% Senior Note, Series 2011-B, due
		  		  	December 15, 2023
			
		  	PPN:	  	714290 C@0
			
		  	Description of Security:	  	4.67% Senior Note, Series 2011-C, due
		  		  	September 30, 2026
			
		  	PPN:	  	714290 C#8
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments, written confirmations of such wire transfers and any audit confirmation:	  	 New York Life Insurance and Annuity Corporation
 c/o New York Life Investment Management LLC
 51 Madison Avenue

2nd Floor, Room 208
 New York, New York
10010-1603
 Attention:  Securities Operations Private Group
 Fax #:  (908) 840-3385
  
 With a copy sent via Email to: FIIGLibrary@nylim.com and TraditionalPVtOps@nylim.com

		
	Address / Fax # for all other notices	  	 New York Life Insurance and Annuity Corporation
 c/o New York Life Investment Management LLC
 51 Madison Avenue

2nd Floor, Room 208
 Attention:  Fixed
Income Investors Group, Private Finance
 Fax #:  (212) 447-4122

 
 With a copy sent via Email to: FIIGLibrary@nylim.com and
TraditionalPVtOps@nylim.com
  
 with a copy of any notices regarding defaults
or Events of Default under the operative documents to:
  

Attention:  Office of General Counsel

Investment Section, Room 1016
 Fax
#:  (212) 576-8340

  
 Schedule A-3

					
	Purchaser Name	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
		
	Instructions re Delivery of Notes	 	 New York Life Investment Management LLC
 51 Madison Avenue
 New York, New York 10010
 Attn:  Matthew DelRosso, Esq.

		
	Signature Block	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
			
		 	By:	  	 New York Life Investment Management LLC,
 Its Investment Manager

			
		 		  	By:
                                         
                                       

		 		  	Name:
		 		  	Title:
		
	Tax identification number	 	13-3044743

  
 Schedule A-4

					
	Purchaser Name	  	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)
		
	Name in which to register Note(s)	  	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT
(BOLI 3-2)
		
	Note Registration Number(s); Principal Amount(s)	  	2011-B-3; $500,000
		
	Payment on account of Note(s)	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
			
		  	Description of Security:	  	4.52% Senior Note, Series 2011-B, due
		  		  	December 15, 2023
			
		  	PPN:	  	714290 C@0
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 New York Life Insurance and Annuity Corporation Institutionally Owned

Life Insurance Separate Account
 c/o New York
Life Investment Management LLC
 51 Madison Avenue
 2nd Floor,
Room 208
 New York, New York 10010-1603

Attention:  Securities Operation Private Group
 Fax #:  (908) 840-3385
  
 With a copy sent via Email to: FIIGLibrary@nylim.com and TraditionalPVtOps@nylim.com

		
	Address / Fax # for all other notices	  	 New York Life Insurance and Annuity Corporation Institutionally Owned

Life Insurance Separate Account
 c/o New York
Life Investment Management LLC
 51 Madison Avenue
 2nd Floor,
Room 208
 New York, New York 10010-1603

Attention:  Fixed Income Investor Group, Private Finance
 Fax #:  (212) 447-4122
  
 With a copy sent via Email to: FIIGLibrary@nylim.com and TraditionalPVtOps@nylim.com
  

with a copy of any notices regarding defaults or Events of Default under the operative documents to:

 
 Attention:  Office of General Counsel

Investment Section, Room 1016
 Fax
#:  (212) 576-8340

  
 Schedule A-5

					
	Purchaser Name	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT
(BOLI 3-2)
		
	Instructions re Delivery of Notes	 	 New York Life Investment Management LLC
 51 Madison Avenue
 New York, New York 10010
 Attn:  Matthew DelRosso, Esq.

		
	Signature Block	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)
			
		 	By:	  	 New York Life Investment Management LLC,
 Its Investment Manager

			
		 		  	By:
                                         
                                       

		 		  	Name:
		 		  	Title:
		
	Tax identification number	 	13-3044743

  
 Schedule A-6

					
	Purchaser Name	  	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)
		
	Name in which to register Note(s)	  	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT
(BOLI 30C)
		
	Note Registration Number(s); Principal Amount(s)	  	 2011-B-4; $2,500,000
  

2011-C-3; $2,500,000

		
	Payment on account of Note(s)	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
			
		  	Description of Security:	  	4.52% Senior Note, Series 2011-B, due
		  		  	December 15, 2023
			
		  	PPN:	  	714290 C@0
			
		  	Description of Security:	  	4.67% Senior Note, Series 2011-C, due
		  		  	September 30, 2026
			
		  	PPN:	  	714290 C#8
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 New York Life Insurance and Annuity Corporation Institutionally Owned

Life Insurance Separate Account
 c/o New York
Life Investment Management LLC
 51 Madison Avenue
 2nd Floor,
Room 208
 New York, New York 10010-1603

Attention:  Securities Operation Private Group
 Fax #:  (908) 840-3385
  
 With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

  
 Schedule A-7

					
	Purchaser Name	 	 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT

(BOLI 30C)

		
	Address / Fax # for all other notices	 	 New York Life Insurance and Annuity Corporation Institutionally Owned

Life Insurance Separate Account
 c/o New York
Life Investment Management LLC
 51 Madison Avenue
 2nd Floor,
Room 208
 New York, New York 10010-1603

Attention:  Fixed Income Investor Group, Private Finance
 Fax #:  (212) 447-4122
  
 With a copy sent via Email to: FIIGLibrary@nylim.com and
 TraditionalPVtOps@nylim.com

 
 with a copy of any notices regarding defaults or Events of Default under the
operative documents to:
  
 Attention:  Office of General
Counsel
 Investment Section, Room 1016

Fax #:  (212) 576-8340

		
	Instructions re Delivery of Notes	 	 New York Life Investment Management LLC
 51 Madison Avenue
 New York, New York 10010
 Attn:  Matthew DelRosso, Esq.

		
	Signature Block	 	 NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT

(BOLI 30C)

			
		 	By:	  	 New York Life Investment Management LLC,
 Its Investment Manager

			
		 		  	By:
                                         
                                       

		 		  	Name:
		 		  	Title:
		
	Tax identification number	 	13-3044743

  
 Schedule A-8

					
	Purchaser Name	  	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
		
	Name in which to register Note(s)	  	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
		
	Note registration number(s); principal amount(s)	  	 2011-A-1; $30,000,000
  

2011-B-5; $33,000,000

		
	Payment on account of Note	  	
		
	 Method
	  	Automated Clearing House System
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
			
		  	Description of Security:	  	4.27% Senior Note, Series 2011-A, due
		  		  	September 30, 2021
			
		  	PPN:	  	714290 C*2
			
		  	Description of Security:	  	4.52% Senior Note, Series 2011-B, due
		  		  	December 15, 2023
			
		  	PPN:	  	714290 C@0
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 Teachers Insurance and Annuity Association of America
 730 Third Avenue
 New York, NY 10017
 Attn:  Securities Accounting Division
 Phone:  212-916-5504

Fax:  212-916-4699
  
 With a copy to:
  

JPMorgan Chase Bank, N.A.
 P.O. Box
35308
 Newark, NJ 07101
  

And:
  
 Teachers Insurance and Annuity Association of America
 8500 Andrew Carnegie Boulevard

Charlotte, NC 28262
 Attn:  Global
Private Markets
 Tel:    704-988-4349 (Ho Young Lee)

 704-988-1000 (General Number)
 Fax:    704-988-4916

Email:  hlee@tiaa-cref.org

  
 Schedule A-9

			
	Purchaser Name	  	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
		
	Address / Fax # for all other notices	  	 Teachers Insurance and Annuity Association of America
 8500 Andrew Carnegie Boulevard
 Charlotte, NC 28262

Attn:  Global Private Markets

Tel:    704-988-4349 (Ho Young Lee)
  704-988-1000 (General Number)
 Fax:    704-988-4916

Email:  hlee@tiaa-cref.org

		
	Instructions re Delivery of Notes	  	 JPMorgan Chase Bank, N.A.
 4
Chase Metrotech Center, 3rd Floor
 Brooklyn, NY 11245-0001
 Attn:  Physical Receive Department
 For TIAA A/C# G07040

		
	Signature Block	  	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
		
		  	By:
                                         
                                       

		  	Name:
		  	Title:
		
	Tax identification number	  	13-1624203

  
 Schedule A-10

					
	Purchaser Name	  	THRIVENT FINANCIAL FOR LUTHERANS
		
	Name in which to register Note(s)	  	SWANBIRD & CO.
		
	Note registration number(s); principal amount(s)	  	 2011-B-6; $5,000,000
 2011-B-7; $5,000,000
 2011-B-8; $5,000,000
 2011-B-9; $5,000,000
 2011-B-10; $8,500,000

 
 2011-C-4; $5,000,000
 2011-C-5; $5,500,000

		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
			
		  	Description of Security:	  	4.52% Senior Note, Series 2011-B, due
		  		  	December 15, 2023
			
		  	PPN:	  	714290 C@0
			
		  	Description of Security:	  	4.67% Senior Note, Series 2011-C, due
		  		  	September 30, 2026
			
		  	PPN:	  	714290 C#8
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to scheduled payments, payments or rate resets	  	Investment Division - Private Placements
	  	Attn:  Patricia Eitrheim
	  	Thrivent Financial for Lutherans
	  	625 Fourth Avenue South
	  	Minneapolis, MN 55415
	  	Fax:  612-844-4027
	  	  
 With a copy to:

	  		  	(e) Thrivent Accounts
	  	  
 State Street Kansas City

	  	801 Pennsylvania
	  	Kansas City, MO 64105
	  	Attention:  Brian Kershner
	  	Fax:  816-871-5509
		
	Address / Fax # for all other notices	  	 Thrivent Financial for Lutherans
 Attn:  Investment Division - Private Placements
 625 Fourth Avenue South

Minneapolis, MN 55415

Fax:  612-844-4027

  
 Schedule A-11

					
	Purchaser Name	  	THRIVENT FINANCIAL FOR LUTHERANS
		
	Instructions re Delivery of Notes	  	DTC/New York Window
	  	55 Water Street
	  	Plaza Level - 3rd Floor
	  	New York, NY 10041
	  	Attention: Robert Mendez
	  	Ref:	  	Account: State Street
	  		  	Fund Name:  Thrivent Financial for Lutherans
	  		  	Fund Number:  NCE1
	  		  	Nominee Name:  Swanbird & Co.
	  		  	Nominee Tax ID Number: 04-3475606
		  	With a copy to Marlene Nogle, Esq.
		
	Signature Block	  	THRIVENT FINANCIAL FOR LUTHERANS
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	39-0123480

  
 Schedule A-12

					
	Purchaser Name	  	MONY LIFE INSURANCE COMPANY
		
	Name in which to register Notes	  	MONY LIFE INSURANCE COMPANY
		
	Registration number(s); principal amount(s)	  	2011-A-2; $3,500,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

		  	  
 Due date and application (as among principal,
premium and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 MONY Life Insurance Company
 c/o AllianceBernstein LP
 1345 Avenue of the Americas, 37th Floor
 New York, New York 10105
 Attention:  Mike Maher

Phone:  212-823-2873

Fax:  212-969-6298

		
	Address / Fax # for all other notices	  	 MONY Life Insurance Company
 c/o AllianceBernstein LP
 1345 Avenue of the Americas, 37th Floor

New York, NY 10105
 Attention:  Jeff
Hughes
 Phone:  212-823-2744

		
	Instructions re Delivery of Notes	  	 MONY Life Insurance Company
 c/o AXA/Equitable Life Insurance Company
 1290 Avenue of the Americas, 12th Floor

New York, New York 10104

Attention:  Neville Hemmings, Law Department
   Telephone Number:  (212) 314-4103

		
	Signature Block	  	MONY LIFE INSURANCE COMPANY
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	13-1632487

  
 Schedule A-13

					
	Purchaser Name	  	AXA EQUITABLE LIFE INSURANCE COMPANY
		
	Name in which to register Notes	  	AXA EQUITABLE LIFE INSURANCE COMPANY
		
	Registration number(s); principal amount(s)	  	2011-A-3; $4,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 AXA Equitable Life Insurance Company
 c/o AllianceBernstein LP
 1345 Avenue of the Americas, 37th Floor
 New York, New York 10105
 Attention:  Cosmo Valente (Telephone #:
212-969-6384)

		
	Address / Fax # for all other notices	  	 AXA Equitable Life Insurance Company
 c/o AllianceBernstein LP
 1345 Avenue of the Americas, 37th Floor

New York, NY 10105
 Attention:  Jeff
Hughes
 Phone:  212-823-2744

		
	Instructions re Delivery of Notes	  	 AXA Equitable Life Insurance Company
 1290 Avenue of the Americas, 12th Floor
 New York, New York 10104

Attention:  Neville Hemmings
 Telephone
Number:  (212) 314-4103

		
	Signature Block	  	AXA EQUITABLE LIFE INSURANCE COMPANY
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	13-5570651

  
 Schedule A-14

					
	Purchaser Name	  	AXA EQUITABLE LIFE INSURANCE COMPANY
		
	Name in which to register Notes	  	AXA EQUITABLE LIFE INSURANCE COMPANY
		
	Registration number(s); principal amount(s)	  	2011-B-11; $22,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

		  	  
 Due date and application (as among principal,
premium and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 AXA Equitable Life Insurance Company
 c/o AllianceBernstein LP
 1345 Avenue of the Americas, 37th Floor
 New York, New York 10105
 Attention:  Cosmo Valente (Telephone #:
212-969-6384)

		
	Address / Fax # for all other notices	  	 AXA Equitable Life Insurance Company
 c/o AllianceBernstein LP
 1345 Avenue of the Americas, 37th Floor

New York, NY 10105
 Attention:  Jeff
Hughes
 Phone:  212-823-2744

		
	Instructions re Delivery of Notes	  	 AXA Equitable Life Insurance Company
 1290 Avenue of the Americas, 12th Floor
 New York, New York 10104

Attention:  Neville Hemmings
 Telephone
Number:  (212) 314-4103

		
	Signature Block	  	AXA EQUITABLE LIFE INSURANCE COMPANY
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	13-5570651

  
 Schedule A-15

					
	Purchaser Name	  	HORIZON BLUE CROSS BLUE SHIELD OF NEW JERSEY
		
	Name in which to register Notes	  	CUDD & CO.
		
	Registration number(s); principal amount(s)	  	2011-B-12; $3,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
		  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

	  	  
 Due date and application (as among principal,
premium and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 JP Morgan Chase Manhattan Bank
 14201 N. Dallas Parkway, 13th Floor
 Dallas, TX 75254-2917

Fax:  469-477-1904
  
 With a copy to:
  
 Horizon Blue
Cross Blue Shield of New Jersey
 c/o Alliance Capital Management Corporation
 1345 Avenue of the Americas
 New York, New York 10105

Attention:  Mei Wong / Mike Maher

Telephone #:  212-969-2112 / 212-823-2873
 Fax #:  212-969-6298
  

And:
  
 Horizon Blue Cross Blue Shield of New Jersey
 Three Penn Plaza

PP-15K
 Newark, NJ 07105-2200

Attn:  Susan McCarthy - Manager Cash & Investments
 Phone #:  973-466-8568 or 973-466-4375
 Fax
#:  973-466-8461

		
	Address / Fax # for all other notices	  	 Alliance Capital Management
 1345 Avenue of the Americas, 38th Floor
 New York, NY 10105

Attention:  Amy Judd
 Phone
#:  212-969-1145
 Fax #:  212-969-6089

		
	Instructions re Delivery of Notes	  	 Alliance Capital Management
 1345 Avenue of the Americas
 New York, New York 10105

Attention:  Angel Salazar / Cosmo Valente, Insurance Operations
 Telephone Number:  212-969-2491 / 212-969-6384

  
 Schedule A-16

			
	Purchaser Name	  	HORIZON BLUE CROSS BLUE SHIELD OF NEW JERSEY
		
	Signature Block	  	HORIZON BLUE CROSS BLUE SHIELD OF NEW JERSEY
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	22-0999690

  
 Schedule A-17

					
	Purchaser Name	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	Name in Which to Register Note(s)	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	 Senior Note Registration

Number(s); Principal Amount(s)
	  	2011-A-4; $11,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	 Name of Issuer:
  
	  	 PERRIGO COMPANY
  

	  	Description of Security:	  	  
 4.27% Senior Note, Series 2011-A, due

	  		  	 September 30, 2021
  

	  	 PPN:
  
	  	 714290 C*2
  

		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 Jackson National Life Insurance Company
 c/o The Bank of New York
 Attn: P & I Department

P.O. Box 19266
 Newark, NJ 07195

Tel:  (718) 315-3035

Fax:  (718) 315-3076

		
	Address / Fax # for all other notices	  	 PPM America, Inc.

225 West Wacker Drive, Suite 1200
 Chicago, IL
60606-1228
 Attn:  Private Placements – Curt Spillers
 Tel:  (312) 634-1227
 Fax:  (312) 634-0054

 
 with a copy to

 
 PPM America, Inc.
 225 West Wacker Drive, Suite 1200
 Chicago, IL 60606-1228

Attn:  Investment Accounting - Craig Close
 Tel:  (312) 634-2502
 Fax:  (312) 634-0906

 
 With copies of Financial Information also to:

 
 Jackson National Life Insurance Company

One Corporate Way
 Lansing, MI 48951

Attn:  Investment Accounting – Mark Stewart
 Tel:  (517) 367-3190
 Fax:  (517) 706-5503

  
 Schedule A-18

					
	Purchaser Name	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	Instructions re Delivery of Notes	  	 The Bank of New York
 Special Processing – Window A
 One Wall Street, 3rd Floor
 New York, NY 10286
 Ref: JNL – JNL ELI/ Non Insul., A/C #187242

		
	Signature Block	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
	  	  
 By:
	  	  
 PPM America, Inc., as attorney in fact, on behalf of Jackson
National Life Insurance Company

	  		  	  

By:                        
                                         
               

	  		  	Name:
	  		  	Title:
		
	Tax identification number	  	38-1659835

  
 Schedule A-19

					
	Purchaser Name	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	Name in Which to Register Note(s)	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	 Senior Note Registration

Number(s); Principal Amount(s)
	  	2011-B-13; $15,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of Security:
	  	  
 4.52% Senior Note, Series 2011-B, due

	  		  	December 15, 2023
	  	  
 PPN:
	  	  
 714290 C@0

		  	  
 Due date and application (as among principal,
premium and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 Jackson National Life Insurance Company
 c/o The Bank of New York
 Attn: P & I Department

P.O. Box 19266
 Newark, NJ 07195

Tel:  (718) 315-3035

Fax:  (718) 315-3076

		
	Address / Fax # for all other notices	  	 PPM America, Inc.

225 West Wacker Drive, Suite 1200
 Chicago, IL
60606-1228
 Attn:  Private Placements – Curt Spillers
 Tel:  (312) 634-1227
 Fax:  (312) 634-0054

 
 with a copy to

 
 PPM America, Inc.
 225 West Wacker Drive, Suite 1200
 Chicago, IL 60606-1228

Attn:  Investment Accounting - Craig Close
 Tel:  (312) 634-2502
 Fax:  (312) 634-0906

 
 With copies of Financial Information also to:

 
 Jackson National Life Insurance Company

One Corporate Way
 Lansing, MI 48951

Attn:  Investment Accounting – Mark Stewart
 Tel:  (517) 367-3190
 Fax:  (517) 706-5503

  
 Schedule A-20

					
	Purchaser Name	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
		
	Instructions re Delivery of Notes	  	 The Bank of New York
 Special Processing – Window A
 One Wall Street, 3rd Floor
 New York, NY 10286
 Ref: JNL – JNL 241, A/C #187241

		
	Signature Block	  	JACKSON NATIONAL LIFE INSURANCE COMPANY
	  	  
 By:
	  	  
 PPM America, Inc., as attorney in fact, on behalf of Jackson
National Life Insurance Company

	  		  	  

By:                        
                                         
               

	  		  	Name:
	  		  	Title:
		
	Tax identification number	  	38-1659835

  
 Schedule A-21

							
	Purchaser Name	  	ING LIFE INSURANCE COMPANY LTD.
		
	Name in which to register Note(s)	  	HARE & CO.
		
	Note registration number(s); principal amount(s)	  	2011-A-5; $5,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-5316

		
	Address / Fax # for all other notices	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Private Placements

Fax:  (770) 690-5342

		
	Instructions re Delivery of Notes	  	 The Bank of New York Mellon
 One Wall Street
 Window A - 3rd Floor
 New York, NY 10286
 Attn:  Anthony V. Saviano

Ref: ING Life Insurance General Account / Acct. 000593258
  

with copy to:
  
 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347
 Attn:  Lindy
Freitag, Esq.

		
	Signature Block	  	ING LIFE INSURANCE COMPANY LTD.
	  	  
 By:
	 	  
 ING Investment Management LLC, as Attorney in
fact

	  		 	  

By:                        
                                         
               

	  		 	Name:
	  		 	Title:
		
	Tax identification number	  	98-0235087

  
 Schedule A-22

							
	Purchaser Name	  	ING LIFE INSURANCE AND ANNUITY COMPANY
		
	Name in which to register Note(s)	  	ING LIFE INSURANCE AND ANNUITY COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-B-14; $4,700,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-5316

		
	Address / Fax # for all other notices	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Private Placements

Fax:  (770) 690-5342

		
	Instructions re Delivery of Notes	  	 The Bank of New York Mellon
 One Wall Street
 Window A - 3rd Floor
 New York, NY 10286
 Ref: ILIAC /Acct. 216101

 
 with copy to:

 
 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Lindy Freitag, Esq.

		
	Signature Block	  	ING LIFE INSURANCE AND ANNUITY COMPANY
	  	  
 By:
	 	  
 ING Investment Management LLC, as
Agent

	  		 	  

By:                        
                                         
               

	  		 	Name:
	  		 	Title:
		
	Tax identification number	  	71-0294708

  
 Schedule A-23

							
	Purchaser Name	  	ING USA ANNUITY AND LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	ING USA ANNUITY AND LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-B-15; $3,500,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-5316

		
	Address / Fax # for all other notices	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Private Placements

Fax:  (770) 690-5342

		
	Instructions re Delivery of Notes	  	 The Bank of New York Mellon
 One Wall Street
 Window A - 3rd Floor
 New York, NY 10286
 Ref: ING USA /Acct. 136373

 
 with copy to:

 
 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Linda H. Freitag, Esq.

		
	Signature Block	  	ING USA ANNUITY AND LIFE INSURANCE COMPANY
	  	  
 By:
	 	  
 ING Investment Management LLC, as
Agent

	  		 	  

By:                        
                                         
               

	  		 	Name:
	  		 	Title:
		
	Tax identification number	  	41-0991508

  
 Schedule A-24

							
	Purchaser Name	  	RELIASTAR LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	RELIASTAR LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-B-16; $4,000,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address / Fax # for notices related to payments	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-5316

		
	Address / Fax # for all other notices	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Private Placements

Fax:  (770) 690-5342

		
	Instructions re Delivery of Notes	  	 The Bank of New York Mellon
 One Wall Street
 Window A - 3rd Floor
 New York, NY 10286
 Ref: RLIC /Acct. 187035

 
 with copy to:

 
 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Lindy Freitag, Esq.

		
	Signature Block	  	RELIASTAR LIFE INSURANCE COMPANY
	  	  
 By:
	 	  
 ING Investment Management LLC, as
Agent

	  		 	  

By:                        
                                         
               

	  		 	Name:
	  		 	Title:
		
	Tax identification number	  	41-0451140

  
 Schedule A-25

							
	Purchaser Name	  	RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
		
	Name in which to register Note(s)	  	RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
		
	Note registration number(s); principal amount(s)	  	2011-B-17; $800,000
		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account information
	  	
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-5316

		
	Address / Fax # for all other notices	  	 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Private Placements

Fax:  (770) 690-5342

		
	Instructions re Delivery of Notes	  	 The Bank of New York Mellon
 One Wall Street
 Window A - 3rd Floor
 New York, NY 10286
 Ref: RLNY /Acct. 187038

 
 with copy to:

 
 ING Investment Management LLC
 5780 Powers Ferry Road NW, Suite 300
 Atlanta, GA 30327-4347

Attn:  Lindy Freitag, Esq.

		
	Signature Block	  	RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK
	  	  
 By:
	 	  
 ING Investment Management LLC, as
Agent

	  		 	  

By:                        
                                         
               

	  		 	Name:
	  		 	Title:
		
	Tax identification number	  	53-0242530

  
 Schedule A-26

					
	Purchaser Name	  	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
		
	Name in which Notes are to be registered	  	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	 2011-B-18; $5,000,000

 

		  	2011-C-6; $5,000,000
		
	Payment on Account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account Information
	  	
			
	Accompanying Information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

			
		  	PPN:	  	714290 C#8
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address/Fax for all Notices and communications	  	 Great-West Life & Annuity Insurance Company
 8515 East Orchard Road, 3T2
 Greenwood Village, CO 80111

Attn:  Investments Division

Fax:  (303) 737-6193

		
	Instructions re: delivery of Notes	  	 The Bank of New York

3rd Floor, Window A
 One Wall Street
 New York, NY 10286
 Attn:  Receive/Deliver Dept

Ref:  Great-West Life A/C No. 640935

		
	Signature Block	  	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
	  	  
 By:
                                         
                                       

	  	Name:
	  	Title:
	  	  
 By:
                                         
                                       

	  	Name:
	  	Title:
		
	Tax Identification Number	  	84-0467907

  
 Schedule A-27

					
	Purchaser Name	  	FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
		
	Name in which Notes are to be registered	  	FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	 2011-B-19; $2,500,000

 

		  	2011-C-7; $2,500,000
		
	Payment on Account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account Information
	  	
			
	Accompanying Information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

			
		  	PPN:	  	714290 C#8
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address/Fax for all Notices and communications	  	 First Great-West Life & Annuity Insurance Company
 8515 East Orchard Road, 3T2
 Greenwood Village, CO 80111

Attn:  Investments Division

Fax:  (303) 737-6193

		
	Instructions re: delivery of Notes	  	 The Bank of New York

3rd Floor, Window A
 One Wall Street
 New York, NY 10286
 Attn:  Receive/Deliver Dept

Ref:  First GWLA / Acct. No. 235207

		
	Signature Block	  	FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax Identification Number	  	13-2690792

  
 Schedule A-28

					
	Purchaser Name	  	PRINCIPAL LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	PRINCIPAL LIFE INSURANCE COMPANY
		
	Note Registration Number(s); Principal Amount(s)	  	 2011-A-6; $2,500,000

2011-A-7; $2,500,000
  
 2011-B-20; $3,000,000
 2011-B-21; $2,000,000

2011-B-22; $2,000,000
 2011-B-23;
$2,000,000

		
	Payment on account of Note	  	
		
	 Method
	  	Federal Funds Wire Transfer
		
	 Account Information
	  	
			
	Accompanying Information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

			
		  	PPN:	  	714290 C@0
		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Email for notices related to payments	  	 Principal Global Investors, LLC
 711 High Street, G-26
 Des Moines, IA 50392-0800

Attn:  Fixed Income Private Placements

and via Email: Privateplacements2@exchange.principal.com
  

With a copy of any notices related to scheduled payments, prepayments, rate reset notices to:

 
 Principal Global Investors, LLC

711 High Street
 Des Moines, IA
50392-0960
 Attn:  Investment Accounting Fixed Income Securities

		
	Address / Email for all other notices	  	 Principal Global Investors, LLC
 711 High Street, G-26
 Des Moines, IA 50392-0800

Attn:  Fixed Income Private Placements

and via Email: Privateplacements2@exchange.principal.com

		
	Instructions re: delivery of Notes	  	 Principal Global Investors, LLC
 711 High Street, G-34
 Des Moines, IA 50392-0301

Attn.:  Sally Sorensen

  
 Schedule A-29

					
	Purchaser Name	  	PRINCIPAL LIFE INSURANCE COMPANY
		
	Form signature block	  	PRINCIPAL LIFE INSURANCE COMPANY
		  	  
 By:
	  	  
 Principal Global Investors, LLC

		  		  	a Delaware limited liability company,
		  		  	its authorized signatory
		  		  	  

By:                        
                                         
               

		  		  	Name:
		  		  	Title:
		  		  	  

By:                        
                                         
               

		  		  	Name:
		  		  	Title:
		
	Tax Identification Number	  	42-0127290

  
 Schedule A-30

					
	Purchaser Name	  	AMERICAN UNITED LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	AMERICAN UNITED LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-C-8; $7,000,000
		
	 Payment on account of Note(s)
  

Method
  

Account information
	  	  
  
 Federal Funds Wire Transfer

			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address for all notices and communications	  	 American United Life Insurance Company
 Attn:  Mike Bullock, Securities Department
 One American Square, Suite 305W

Post Office Box 368
 Indianapolis, IN
46206

		
	Instructions re Delivery of Note(s)	  	 Bank of New York

One Wall Street,
3rd Floor

New York, NY 10286
 Attn:  Anthony
Saviano / Window A
 Ref:  American United Life Insurance Company, #186683
 cc:  Michelle Morris/NYC Physical Desk (same address as above)
 cc:  Mike
Bullock

		
	Signature Block	  	AMERICAN UNITED LIFE INSURANCE COMPANY
	  	  
 By: /s/ John C
Mason                                        
        

	  	Name:    John C Mason
	  	Title:      Vice President, Fixed Income Securities
		
	Tax identification number	  	35-0145825

  
 Schedule A-31

					
	Purchaser Name	  	THE STATE LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	THE STATE LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-C-9; $4,000,000
		
	 Payment on account of Note(s)
  

Method
  

Account information
	  	  
  
 Federal Funds Wire Transfer

			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address for all notices and communications	  	 American United Life Insurance Company
 Attn: Mike Bullock, Securities Dept.
 One American Square, Suite 305W

Post Office Box 368
 Indianapolis, IN
46206

		
	Instructions re Delivery of Note(s)	  	 Bank of New York

One Wall Street,
3rd Floor

New York, NY 10286
 Attn:  Anthony
Saviano, Window A
 Ref:  The State Life Insurance Company, c/o American United Life Insurance Company, #343761

cc:  Michelle Morris/NYC Physical Desk (same address as above)
 cc:  Mike Bullock

		
	Signature Block	  	THE STATE LIFE INSURANCE COMPANY
	  	  
 By: American United Life Insurance
Company

	  	Its: Agent
	  	  
         By:
/s/ John C
Mason                                        
            

	  	        Name:    John C Mason
	  	        Title:      Vice President, Fixed Income Securities
		
	Tax identification number	  	34-0684263

  
 Schedule A-32

					
	Purchaser Name	  	PIONEER MUTUAL LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	PIONEER MUTUAL LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-C-10; $1,000,000
		
	 Payment on account of Note(s)
  

Method
  

Account information
	  	  
  
 Federal Funds Wire Transfer

			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

	  	  
 Description of
	  	
		  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

		  	  
 PPN:
	  	  
 714290 C#8

		  	  
 Due date and application (as among principal, premium
and interest) of the payment being made.

		
	Address for notices and communications	  	 American United Life Insurance Company
 Attn: Mike Bullock, Securities Dept.
 One American Square, Suite 305W

Post Office Box 368
 Indianapolis, IN
46206

		
	Instructions re Delivery of Note(s)	  	 Bank of New York

One Wall Street,
3rd Floor

New York, NY 10286
 Attn:  Anthony
Saviano, Window A
 Ref:  Pioneer Mutual Life Insurance Company c/o American United Life Insurance Company, #186709

cc:  Michelle Morris/NYC Physical Desk (same address as above)
 cc:  Mike Bullock

		
	Signature Block	  	PIONEER MUTUAL LIFE INSURANCE COMPANY
	  	  
 By: American United Life Insurance
Company

	  	Its: Agent
	  	  
         By:
/s/ John C
Mason                                        
        

	  	        Name:    John C Mason
	  	        Title:       Vice President, Fixed Income Securities
		
	Tax identification number	  	45-0220640

  
 Schedule A-33

					
	Purchaser Name	  	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	Name in Which to Register Note(s)	  	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	Senior Note Registration Number(s); Principal Amount(s)	  	2011-A-8; $11,000,000
		
	 Payment on account of Note
	  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 The Northwestern Mutual Life Insurance Company
 720 East Wisconsin Avenue
 Milwaukee, WI 53202

Attn:  Treasury & Investment Operations
 Fax: 414-625-6998

		
	Address / Fax # for all other notices	  	 The Northwestern Mutual Life Insurance Company
 720 East Wisconsin Avenue
 Milwaukee, WI 53202

Attn: Securities Department
 Fax:
414-665-7124

		
	Instructions re Delivery of Notes and closing documents	  	 The Northwestern Mutual Life Insurance Company
 720 East Wisconsin Avenue
 Milwaukee, WI 53202

Attn: Matthew E. Gabrys, Esq.

		
	Signature Block	  	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
	  	  

By:                        
                                         
               

	  	Name:
	  	Its:  Authorized Representative
		
	Tax identification number	  	39-0509570

  
 Schedule A-34

					
	Purchaser Name	  	TRANSAMERICA LIFE (BERMUDA) LTD
		
	Name in which to register Note(s)	  	TRANSAMERICA LIFE (BERMUDA) LTD
		
	Note registration number(s); principal amount(s)	  	2011-C-11; $10,000,000
		
	Payment on account of Note	  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Email for notices related to payments	  	 Email: paymentnotifications@aegonusa.com

 
 AEGON USA Investment Management, LLC

Attn:  Custody Operations-Privates

4333 Edgewood Road NE
 Cedar Rapids, IA
52499-7013

		
	Address / Fax # for all other notices	  	 AEGON USA Investment Management, LLC
 Attn:  Director of Private Placements
 400 West Market Street

Louisville, KY 40202
 Tel:  (502)
560-2769
 Fax:  (502) 560-2030
  

and
  
 AEGON USA Investment Management, LLC
 Attn:  Director of Private Placements

4333 Edgewood Road N.E.
 Cedar Rapids, IA
52499-5335
 Tel:  (319) 355-2432
 Fax:  (319) 355-2666

		
	Instructions re Delivery of Notes	  	A singed copy of the Note must be sent to Custody Operations-Privates via fax at 888-652-8024 or email INVCustodayTeam@AEGONUSA.com for verification. A letter with
Custody Bank Instructions will be sent back.
		
	Signature Block	  	TRANSAMERICA LIFE (BERMUDA) LTD
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	98-0481010

  
 Schedule A-35

					
	Purchaser Name	  	BANKERS LIFE AND CASUALTY COMPANY
		
	Name in Which to Register Note(s)	  	HARE & CO.
		
	Senior Note Registration Number(s); Principal Amount(s)	  	2011-C-12; $6,000,000
		
	Payment on account of Note	  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 John K. Nasser

Manager, Investment Operations
 40|86 Advisors,
Inc.
 535 N. College Drive
 Carmel, IN
46032
 Tel:  317-817-6069

Fax:  317-817-2589

		
	Address / Fax # / Email for all other notices	  	 Timothy L. Powell

Vice President
 40|86 Advisors, Inc.

535 N. College Drive
 Carmel, IN 46032

Tel:  317-817-3633

Fax:  317-817-2589

Email:  4086PVTPlacements@4086.com

		
	Instructions re Delivery of Notes	  	 The Bank of New York

One Wall Street, 3rd Floor
 Window A

New York, NY 10286
 Attn:  Michael
Visone (212-635-1262)
 Ref:  Bankers Life and Cas.; a/c# 014814

		
	Signature Block	  	BANKERS LIFE AND CASUALTY COMPANY
	  	  
 By: 40|86 Advisors, Inc. acting as Investment
Advisor

	  	  
 By: /s/ Timothy L.
Powell                                        
    

	  	Name: Timothy L. Powell
	  	Title:      Vice President
		
	Tax identification number	  	36-0770740

  
 Schedule A-36

					
	Purchaser Name	  	CONSECO LIFE INSURANCE COMPANY
		
	Name in Which to Register Note(s)	  	HARE & CO.
		
	Senior Note Registration Number(s); Principal Amount(s)	  	2011-C-13; $2,000,000
		
	Payment on account of Note	  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 John K. Nasser

Manager, Investment Operations
 40|86 Advisors,
Inc.
 535 N. College Drive
 Carmel, IN
46032
 Tel:  317-817-6069

Fax:  317-817-2589

		
	Address / Fax # / Email for all other notices	  	 Timothy L. Powell

Vice President
 40|86 Advisors, Inc.

535 N. College Drive
 Carmel, IN 46032

Tel:  317-817-3633

Fax:  317-817-2589

Email:  4086PVTPlacements@4086.com

		
	Instructions re Delivery of Notes	  	 The Bank of New York

One Wall Street, 3rd Floor
 Window A

New York, NY 10286
 Attn:  Michael
Visone (212-635-1262)
 Ref:  Conseco Life Ins Co, a/c# 0000232471

		
	Signature Block	  	CONSECO LIFE INSURANCE COMPANY
	  	  
 By: 40|86 Advisors, Inc. acting as Investment
Advisor

	  	  
 By: /s/ Timothy L.
Powell                                        
    

	  	Name: Timothy L. Powell
	  	Title:      Vice President
		
	Tax identification number	  	36-1933760

  
 Schedule A-37

					
	Purchaser Name	  	WASHINGTON NATIONAL INSURANCE COMPANY
		
	Name in Which to Register Note(s)	  	HARE & CO.
		
	Senior Note Registration Number(s); Principal Amount(s)	  	2011-C-14; $2,000,000
			
	Payment on account of Note	  		  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to payments	  	 John K. Nasser

Manager, Investment Operations
 40|86 Advisors,
Inc.
 535 N. College Drive
 Carmel, IN
46032
 Tel:  317-817-6069

Fax:  317-817-2589

		
	Address / Fax # / Email for all other notices	  	 Timothy L. Powell

Vice President
 40|86 Advisors, Inc.

535 N. College Drive
 Carmel, IN 46032

Tel:  317-817-3633

Fax:  317-817-2589

Email:  4086PVTPlacements@4086.com

		
	Instructions re Delivery of Notes	  	 The Bank of New York

One Wall Street, 3rd Floor
 Window A

New York, NY 10286
 Attn:  Michael
Visone (212-635-1262)
 Ref:  Washington National Ins., a/c# 0000379363

		
	Signature Block	  	WASHINGTON NATIONAL INSURANCE COMPANY
	  	  
 By: 40|86 Advisors, Inc. acting as Investment
Advisor

	  	  
 By: /s/ Timothy L.
Powell                                        
    

	  	Name: Timothy L. Powell
	  	Title:      Vice President
		
	Tax identification number	  	36-1933760

  
 Schedule A-38

					
	Purchaser Name	  	ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
		
	Name in which Notes are to be registered	  	ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
		
	Registration number(s); principal amount(s)	  	2011-A-9; $3,000,000
			
	Payment on account of Note	  		  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to scheduled payments, payments or rate resets	  	 Allstate Investments LLC
 Investment Operations - Private Placements
 3075 Sanders Road, STE G4A

Northbrook, IL 60062-7127
 Tel: 847-402-6672
Private Placements
 Fax: 847-326-7032

And via Email:  PrivateIOD@allstate.com
  

Prepayments notices to also be sent to:
  

Email (PrivateCompliance@allstate.com)

Allstate Investments LLC
 Private Placements
Department
 3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2418

		
	Address / Fax # / Email for financial reports, compliance certificates and all other written communications and notices	  	 Email (PrivateCompliance@allstate.com)

 
 or to:

 
 Allstate Investments LLC
 Private Placements Department
 3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2418

  
 Schedule A-39

			
	Purchaser Name	  	ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
		
	Instructions re Delivery of Notes	  	 Citibank N.A.
 333 Park
Avenue
 Level B Vault
 New York, N.Y.
10022
 Attn: Danny Reyes
 For Allstate
Life Insurance Company of New York/Safekeeping Account No. 846684

		
	Signature Block	  	ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK
	  	  

By:                        
                                         
               

	  	Name:
	  	  

By:                        
                                         
               

	  	Name:
	  	                Authorized Signatories
		
	Tax identification number	  	36-2608394

  
 Schedule A-40

					
	Purchaser Name	  	AMERICAN HERITAGE LIFE INSURANCE COMPANY
		
	Name in which Notes are to be registered	  	AMERICAN HERITAGE LIFE INSURANCE COMPANY
		
	Registration number(s); principal amount(s)	  	2011-B-24; $4,000,000
		
	Payment on account of Note	  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.52% Senior Note, Series 2011-B, due
 December 15, 2023

	  	  
 PPN:
	  	  
 714290 C@0

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices related to scheduled payments, payments or rate resets	  	 Allstate Investments LLC
 Investment Operations - Private Placements
 3075 Sanders Road, STE G4A

Northbrook, IL 60062-7127
 Tel: 847-402-6672
Private Placements
 Fax: 847-326-7032

And via Email:  PrivateIOD@allstate.com
  

Prepayments notices to also be sent to:
  

Email (PrivateCompliance@allstate.com)

Allstate Investments LLC
 Private Placements
Department
 3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2418

		
	Address / Fax # for all other notices	  	 Email (PrivateCompliance@allstate.com)

 
 or to:

 
 Allstate Investments LLC
 Private Placements Department
 3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2418

  
 Schedule A-41

					
	Purchaser Name	  	AMERICAN HERITAGE LIFE INSURANCE COMPANY
		
	Instructions re Delivery of Notes	  	 Citibank N.A.

333 Park Avenue
 Level B Vault

New York, N.Y. 10022
 Attn: Danny
Reyes
 For American Heritage Life Insurance Company/Safekeeping Account No. 846928

		
	Signature Block	  	 AMERICAN HERITAGE LIFE INSURANCE COMPANY

 

By:                        
                                         
               
 Name:

 

By:                        
                                         
               
 Name:

                Authorized Signatories

	  
	  
	  
	  
	  
		
	Tax identification number	  	59-0781901

  
 Schedule A-42

					
	Purchaser Name	  	UNITED OF OMAHA LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	  	UNITED OF OMAHA LIFE INSURANCE COMPANY
		
	Note registration number(s); principal amount(s)	  	2011-C-15; $5,000,000
		
	Payment on account of Note	  	
		
	 Method
  

Account information
	  	Federal Funds Wire Transfer
			
	Accompanying information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.67% Senior Note, Series 2011-C, due
 September 30, 2026

	  	  
 PPN:
	  	  
 714290 C#8

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address for all notices in respect of payment of Principal and Interest, Corporate Actions, and Reorganization Notifications	  	 JPMorgan Chase Bank

14201 Dallas Parkway - 13th Floor
 Dallas, TX
75254-2917
 Attn:  Income Processing – G. Ruiz
 a/c:  G07097

		
	Address for all other communications (i.e.: Quarterly/Annual reports, Tax filings, Modifications, Waivers regarding the indenture)	  	 4 - Investment Accounting
 United of Omaha Life Insurance Company
 Mutual of Omaha Plaza

Omaha, NE 68175-1011

		
	Instructions re Delivery of Notes	  	 JPMorgan Chase Bank

4 Chase Metrotech Center, 3rd Floor
 Brooklyn, NY
11245-0001
 Attn:  Physical Receive Department
 Ref:  Account # G07097

		
	Signature Block	  	UNITED OF OMAHA LIFE INSURANCE COMPANY
	  	  

By:                        
                                         
               

	  	Name:
	  	Title:
		
	Tax identification number	  	47-0322111

  
 Schedule A-43

					
	Purchaser Name	  	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
		
	Name in which to register Note(s)	  	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
		
	Note registration number; principal amount	  	2011-A-10; $1,500,000
		
	Payment on account of Note	  	
		
	 Method
  

Account Information
	  	Bank Wire Transfer of Federal or Other Immediately Available Funds
			
	Accompanying Information	  	Name of Issuer:	  	PERRIGO COMPANY
	  	  
 Description of
	  	
	  	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

	  	  
 PPN:
	  	  
 714290 C*2

		
		  	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address for Notices and Communications	  	 Travelers Casualty and Surety Company of America
 c/o The Travelers Companies, Inc.
 9275-NB11B

385 Washington Street
 St. Paul, MN
55102-1396

		
	Instructions re: delivery of Notes	  	 Travelers Casualty and Surety Company of America
 c/o The Travelers Companies, Inc.
 9275-NB11B

385 Washington Street
 St. Paul, MN
55102-1396
 Attn:  Nicole Ankeny, Esq.

		
	Form signature block	  	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
	  	  
 By:
                                         
                                       

	  	Name:
	  	Title:
		
	Tax Identification Number	  	06-0907370

  
 Schedule A-44

							
	Purchaser Name	 	ACACIA LIFE INSURANCE COMPANY
		
	Name in which to register Note(s)	 	CUDD & CO. AS NOMINEE FOR ACACIA LIFE INSURANCE COMPANY
		
	Note Registration Number(s); Principal Amount(s)	 	2011-A-11; $1,000,000
				
	Payment on account of Note(s)	 		 		  	
		
	 Method
  

Account information
	 	Federal Funds Wire Transfer
			
	Accompanying information	 	Name of Issuer:	  	PERRIGO COMPANY
		 	  
 Description of
	  	
		 	Security:	  	 4.27% Senior Note, Series 2011-A, due
 September 30, 2021

		 	  
 PPN:
	  	  
 714290 C*2

		
		 	Due date and application (as among principal, premium and interest) of the payment being made.
		
	Address / Fax # for notices and communications	 	 Acacia Life Insurance Company
 c/o Summit Investment Partners
 390 North Cotner Blvd.

Lincoln, NE 68505
 Fax:
402-467-6970

		
	Instructions re Delivery of Notes	 	 JPMorgan Chase Bank, N.A.
 4 Chase Metrotech Center, 3rd Floor
 Brooklyn, NY 11245-0001

Attn:  Physical Receive Department

Ref:  Account P72216, Acacia Life Insurance Company

		
	Signature Block	 	ACACIA LIFE INSURANCE COMPANY
			
		 	By:	 	Summit Investment Advisors, Inc., as Agent
		 		 	  
 By: /s/ Andrew S. White
                                         
           

		 		 	Name:    Andrew S. White
		 		 	Title:      Managing Director-Private Placements
		
	Tax identification number	 	 53-0022880 (acacia Life)
 13-6022143 (CUDD & CO.)

  
 Schedule A-45

 Schedule 4(l) to Second Supplement 

Material Corporate Changes Since June 25, 2011 
 On January 20, 2011, the Company signed a definitive agreement to acquire substantially all of the assets of Paddock Laboratories, Inc. (“Paddock”) for approximately $540,000,000 in
cash. The Company closed the acquisition of Paddock on July 26, 2011. As part of the acquisition, the Company assumed all of the obligations and liabilities associated with the acquired assets (other than Paddock’s debt for money
borrowed which was repaid as part of the closing). The Company funded the transaction using a combination of cash on hand, utilization of its existing credit facilities and a new five-year term loan. Concurrent with the signing of the
Paddock agreement, the Company entered into a Term Loan Agreement (the “Agreement”). Under the terms of the Agreement, the term loan commitment is $250,000,000 and was funded in full in conjunction with the closing of the Paddock
acquisition. The term loan has mandatory annual amortizations of $25,000,000 on each of the four annual anniversary dates with the final $150,000,000 due on the fifth annual anniversary date of the funding. 

  
 Schedule 8.3-1

 Schedule 8.3 to Second Supplement 

Supplement Disclosure Documents 
 No disclosure 

  
 Schedule 8.3-1

 Schedule 8.4 to Second Supplement 

Subsidiaries of the Company 
 (a) 
  

	 	(i)	Listed below are the Company’s Subsidiaries, the jurisdiction of their organization and the percentage of shares of capital stock owned by the Company in such
Subsidiary: 

  

							
	Subsidiary	  	State/Country of
Incorporation	  	Ownership	 
	 L. Perrigo Company
	  	Michigan	  	 	100	%* 
	 Perrigo Pharmaceuticals Company
	  	Michigan	  	 	100	%* 
	 Perrigo International Inc.
	  	Michigan	  	 	100	%* 
	 Perrigo Company of South Carolina Inc.
	  	Michigan	  	 	100	%* 
	 Perrigo Sales Corporation
	  	Michigan	  	 	100	%* 
	 Perrigo International Holdings Inc.
	  	Michigan	  	 	100	% 
	 Perrigo Research and Development Company
	  	Michigan	  	 	100	%* 
	 Perrigo Holland, Inc.
	  	Michigan	  	 	100	% 
	 PJET, Inc.
	  	Michigan	  	 	100	%* 
	 Perrigo Sourcing Solutions, Inc.
	  	Michigan	  	 	100	% 
	 Perrigo International Holdings II, Inc.
	  	Delaware	  	 	100	% 
	 Perrigo LLC
	  	Delaware	  	 	100	% 
	 Perrigo China Business Trustee, LLC
	  	Delaware	  	 	100	% 
	 Perrigo Mexico Investment Holdings LLC
	  	Delaware	  	 	100	% 
	 Perrigo Receivables LLC
	  	Delaware	  	 	100	% 
	 PBM Holdings, LLC
	  	Delaware	  	 	100	%* 
	 PBM Nutritionals, LLC
	  	Delaware	  	 	100	%* 
	 PBM Products, LLC
	  	Delaware	  	 	100	% 
	 PBM Foods, LLC
	  	Delaware	  	 	100	% 
	 PBM International Holdings, LLC
	  	Delaware	  	 	100	% 
	 PBM Canada Holdings, LLC
	  	Delaware	  	 	100	% 
	 PBM Mexico Holdings, LLC
	  	Delaware	  	 	100	% 
	 PBM China Holdings, LLC
	  	Delaware	  	 	100	% 
	 PBM Covington, LLC
	  	Delaware	  	 	100	% 
	 Paddock Laboratories, LLC
	  	Delaware	  	 	100	%* 
	 Perrigo Company of Tennessee Inc.
	  	Tennessee	  	 	100	%* 
	 Perrigo Iowa, Inc.
	  	Iowa	  	 	100	% 
	 Perrigo Florida, Inc.
	  	Florida	  	 	100	% 
	 ChemAgis USA Inc.
	  	New Jersey	  	 	100	% 
	 Perrigo de Mexico S.A. de C.V.
	  	Mexico	  	 	100	% 
	 Quimica y Farmacia S.A. de C.V.
	  	Mexico	  	 	100	% 
	 Laboratorios DIBA S.A.
	  	Mexico	  	 	100	% 
	 Perrigo Mexico Holding S.A. de C.V.
	  	Mexico	  	 	100	% 
	 PBM Products Mexico S de RL de CV
	  	Mexico	  	 	100	% 
	 Servicios PBM S de RL de CV
	  	Mexico	  	 	100	% 
	 Perrigo do Brasil LTDA
	  	Brazil	  	 	100	% 
	 Wrafton Laboratories Limited
	  	United Kingdom	  	 	100	% 
	 Perrigo UK Acquisition Limited
	  	United Kingdom	  	 	100	% 

  
 Schedule 8.4-1

							
	 Wrafton Trustees Limited
	  	United Kingdom	  	 	100	% 
	 Perrigo Ventures Limited Partnership
	  	United Kingdom	  	 	100	% 
	 Perrigo UK FINCO Limited Partnership
	  	United Kingdom	  	 	100	% 
	 Galpharm Healthcare Ltd.
	  	United Kingdom	  	 	100	% 
	 Galpharm International LTD.
	  	United Kingdom	  	 	100	% 
	 Healthy Ideas Ltd.
	  	United Kingdom	  	 	100	% 
	 Kiteacre Ltd.
	  	United Kingdom	  	 	100	% 
	 Brunel Pharma Ltd.
	  	United Kingdom	  	 	100	% 
	 Perrigo Israel Holdings Ltd.
	  	Israel	  	 	100	% 
	 Perrigo Israel Pharmaceuticals Ltd.
	  	Israel	  	 	100	% 
	 Chemagis Ltd.
	  	Israel	  	 	100	% 
	 Perrigo Israel Opportunities II Ltd.
	  	Israel	  	 	100	% 
	 Arginet Investments and Property (2003) Ltd.
	  	Israel	  	 	100	% 
	 Perrigo Israel Agencies Ltd. (fka Agis Commercial Agencies, Ltd.)
	  	Israel	  	 	100	% 
	 Perrigo Israel Enterprises & Investments Ltd. (fka Neca Chemicals (1952) Ltd.)
	  	Israel	  	 	100	% 
	 Pharma Clal Ltd.
	  	Israel	  	 	100	% 
	 Perrigo Israel Trading Limited Partnership
	  	Israel	  	 	100	% 
	 Perrigo Laboratories India Private Ltd.
	  	India	  	 	100	% 
	 Chemagis India Private Ltd.
	  	India	  	 	51	% 
	 Perrigo API (India)
	  	India	  	 	85	% 
	 ChemAgis B.V.
	  	Netherlands	  	 	100	% 
	 Perrigo Netherlands BV
	  	Netherlands	  	 	100	% 
	 Perrigo Israel Holdings II BV
	  	Netherlands	  	 	100	% 
	 Perrigo Netherlands FINCO I Cooperatief U.A.
	  	Netherlands	  	 	100	% 
	 Perrigo Netherlands FINCO II B.V.
	  	Netherlands	  	 	100	% 
	 Perrigo Trading (Shanghai) Co. Ltd.
	  	China	  	 	100	% 
	 Perrigo China Business Trust
	  	China	  	 	100	% 
	 PBM (Guangzhou) Nutritionals Co. Ltd.
	  	China	  	 	100	% 
	 Perrigo Denmark K/S
	  	Denmark	  	 	100	% 
	 Perrigo Asia Holding Company
	  	Mauritius	  	 	100	% 
	 Perrigo Australian Holding Company I PTY Limited
	  	Australia	  	 	100	% 
	 Perrigo Australian Holding Company II PTY Limited
	  	Australia	  	 	100	% 
	 Orion Laboratories PTY Limited
	  	Australia	  	 	100	% 
	 Orion Laboratories NZ Ltd
	  	New Zealand	  	 	100	% 

  

	*	Indicates direct Subsidiaries of Perrigo Company. 

  

	 	(ii)	Below is the Company’s only Affiliate: 

  

							
	 Legal Name
	  	Jurisdiction	  	Ownership percentage	 
	 Zibo Xinhua - Perrigo Pharmaceutical Company Ltd
	  	China	  	 	49.90	% 

  

	 	(iii)	Below are the Company’s current directors and senior officers: 

 Directors 
  

							
		 	 ̈	  	Moshe Arkin*	  	
		 	 ̈	  	Laurie Brlas	  	
		 	 ̈	  	Gary M. Cohen	  	
		 	 ̈	  	David T. Gibbons	  	

  
 Schedule 8.4-2

							
		 	 ̈	  	Ran Gottfried	  	
		 	  ̈
	  	Ellen R. Hoffing	  	
		 	  ̈
	  	Michael J. Jandernoa	  	
		 	  ̈
	  	Gary K. Kunkle, Jr.	  	
		 	  ̈
	  	Herman Morris, Jr.	  	
		 	  ̈
	  	Joseph C. Papa	  	
		 	  ̈
	  	Ben-Zion Zilberfarb	  	

  

	*	Mr. Arkin will retire from the Company’s Board of Directors on October 26, 2011. 

 Senior Officers 
  

							
		 	  ̈
	  	Joseph C. Papa	  	Chairman, President and Chief Executive Officer
		 	  ̈
	  	Judy L. Brown	  	Executive Vice President and Chief Financial Officer
		 	  ̈
	  	John T. Hendrickson	  	Executive Vice President, Global Operations and Supply Chain
		 	  ̈
	  	Scott F. Jamison	  	Executive Vice President, General Manager Nutritionals
		 	  ̈
	  	Todd W. Kingma	  	Executive Vice President, General Counsel and Secretary
		 	  ̈
	  	Sharon Kochan	  	Executive Vice President, U.S. Generics
		 	  ̈
	  	Refael Lebel	  	Executive Vice President and President, Perrigo Israel
		 	  ̈
	  	Jeffrey R. Needham	  	Executive Vice President, General Manager Consumer Healthcare
		 	  ̈
	  	Thomas M. Farrington	  	Senior Vice President and Chief Information Officer
		 	  ̈
	  	Jatin Shah, Ph.D.	  	Senior Vice President and Chief Scientific Officer
		 	  ̈
	  	Michael R. Stewart	  	Senior Vice President, Global Human Resources
		 	  ̈
	  	James C. Tomshack	  	Senior Vice President, Consumer Healthcare Sales
		 	  ̈
	  	Louis W. Yu, Ph.D.	  	Senior Vice President, Global Quality and Compliance

  

	(c)	The agreements and instruments referenced in items 1, 2, 4 and 5 of disclosure (a) of Schedule 8.15 impose certain restrictions on the ability of Subsidiaries to
pay dividends out of profits or make other similar distributions. 

  
 Schedule 8.4-3

 Schedule 8.5 to Second Supplement 

Financial Statements 

The Company has delivered to each Purchaser, through incorporation by reference in the Second Supplement Memorandum, the financial statements of the
Company and its Subsidiaries included in the Company’s Annual Report on Form 10-K for the twelve-month period ended June 25, 2011. 

  
 Schedule 8.5-1

 Schedule 8.15 to Second Supplement 

Existing Indebtedness; Future Liens 
 (a) Below is a list of all outstanding Indebtedness of the Company and its Subsidiaries as of August 24, 2011: 
  

	1.	Credit Agreement dated as of October 8, 2010 among the Company, the Foreign Subsidiary Borrowers party thereto, the lenders party thereto, JPMorgan Chase Bank,
N.A., as Administrative Agent, Bank of America, N.A. and Wells Fargo Bank, National Association, as Syndication Agents, HSBC Bank USA, National Association, Fifth Third Bank and Bank Leumi USA , as Documentation Agents. As of August 24, 2011
the principal amount outstanding was $153,000,000, $150,000,000 of which constituted a term loan due October 8, 2015 and $3,000,000 of which was drawn under the revolving credit facility. $347,000,000 remained undrawn but available through
October 8, 2015 under the revolving loan facility . The obligations under the Credit Agreement are guaranteed by certain of the Company’s subsidiaries. The indebtedness under the Credit Agreement is secured by certain collateral as
described in the Credit Agreement and in the Intercreditor Agreement. 

  

	2.	Term Loan Agreement, dated as of April 22, 2008 among the Company, certain lenders, JPMorgan Chase Bank, N.A. as Administrative Agent and RBS Citizens, N.A. as
Syndication Agent, as amended. As of August 24, 2011, the principal amount outstanding under the Term Loan Agreement was $125,000,000 due April 22, 2013. The obligations under the Term Loan Agreement are guaranteed by certain of the
Company’s subsidiaries. The indebtedness under the Term Loan Agreement is secured by certain collateral as described in the Term Loan Agreement and in the Intercreditor Agreement. 

 

	3.	Master Note Purchase Agreement dated as of May 29, 2008 by and among the Company and the purchasers listed on Schedule A thereto, as supplemented. As of
August 24, 2011 the outstanding principal amount of the Series 2008 Notes (as defined therein) was $200,000,000, and the outstanding principal amount of the Series 2010 Notes issued under the First Supplement to the Master Note Purchase
Agreement dated as of April 30, 2010 was $415,000,000. The obligations under the Master Note Purchase Agreement are guaranteed by certain of the Company’s subsidiaries. The indebtedness under the Master Note Purchase Agreement is secured
by certain collateral as described in the Master Note Purchase Agreement and in the Intercreditor Agreement. 

  

	4.	Term Loan Agreement dated January 11, 2011 among the Company, JPMorgan Chase Bank NA as Administration Agent, Morgan Stanley Senior Funding, Inc. and Bank of
America NA as Syndication Agents and other lenders party thereto, as amended. As of August 24, 2011 the principal amount outstanding under this Agreement was $250,000,000. The obligations under the Term Loan Agreement are guaranteed by certain
of the Company’s subsidiaries. The indebtedness under the Term Loan is secured by certain collateral as described in the Term Loan Agreement and in the Intercreditor Agreement. 

  
 Schedule
8.15-1 

	5.	Perrigo Receivables Securitization Facility dated as of July 23, 2009, as amended, among Perrigo Receivables LLC as special purpose vehicle, various affiliated
companies as originators, Bank of America N.A., Wells Fargo Bank National Association and PNC Bank National Association. As of August 24, 2011, $85,000,000 was outstanding under this facility, and $115,000,000 remained undrawn but available
through June 13, 2014. 

  

	6.	Short Term Credit Line dated as of May 26, 2010 between Perrigo API India Pvt. Ltd. (“Perrigo India”), a subsidiary of the Company, as borrower and Hong
Kong and Shanghai Banking Corporation Ltd as lender. As of August 24, 2011 the principal amount outstanding was 160,000,000 Indian rupees (approximately $3,556,000 U.S.), and 46,000,000 Indian rupees (approximately $1,022,000 U.S.) remained
undrawn but available through November 22, 2011 for working capital purposes. 

  

	7.	Loan Agreement dated as of December 29, 2010 between Perrigo India as borrower and certain persons who are minority owners of Perrigo India as lenders. As of
August 24, 2011 the principal amount outstanding was 74,651,899 Indian rupees (approximately $1,659,000 U.S.), and 60,345,000 Indian rupees (approximately $1,341,000 U.S.) remained undrawn but available through July 31, 2020 for purposes
defined therein. 

  

	8.	Term Loan Agreement dated as of July 6, 2011 between Perrigo India as borrower and Hong Kong and Shanghai Banking Company Ltd. as lender. As of August 24,
2011 the principal amount outstanding was 35,000,000 Indian rupees (approximately $778,000 U.S.), and 232,600,000 India rupees (approximately $5,169,000 U.S.) remained undrawn but available through June 22, 2012 with final maturity July 6,
2016 for purposes defined therein. 

  

	9.	Indebtedness of the Company to a Wholly-Owned Subsidiary and Indebtedness of a Wholly-Owned Subsidiary to another Wholly-Owned Subsidiary or the Company.

  

	(b)	Liens 

 No disclosure.

  

	(c)	The agreements and instruments referenced in disclosure (a) above contain limitations on the amount of, or impose restrictions on the incurring of, Indebtedness of
the Company. 

  
 Schedule
8.15-2 

 Exhibit 1-A to Second Supplement 

[FORM OF SERIES 2011-A NOTE] 
 THE SECURITY EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND THE SECURITY EVIDENCED HEREBY
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. 

PERRIGO COMPANY 
 4.27% Senior Note, Series 2011-A, due September 30, 2021 
  

			
	No. 2011-A-[        ]	  	[Date]
	$[            ]	  	PPN: 714290 C*2

 FOR VALUE RECEIVED, the undersigned, PERRIGO COMPANY (herein called the “Company”), a
corporation organized and existing under the laws of the state of Michigan, promises to pay to
[                                        
], or registered assigns, the principal sum of $[            ] on September 30, 2021, with interest (computed on the basis of a 360-day year of twelve 30-day months)
(a) on the unpaid balance thereof at the rate of 4.27% per annum (subject to adjustment pursuant to Section 5(c) of the Second Supplement referred to below) from the date hereof, payable semiannually, on the 30th day of March and
September in each year, commencing with the March or September next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during
the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 6.27% or (ii) 2% over the rate of interest publicly
announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United
States of America at the principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred
to below. 
 This Note is one of a series of Series 2011-A Notes (herein called the “Notes”) issued pursuant to that
certain Second Supplement to Master Note Purchase Agreement dated as of September 1, 2011 (the “Second Supplement”) which supplements that certain Master Note Purchase Agreement, dated as of May 29, 2008 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and 

  
 Exhibit 1-A-1

 
is entitled to the benefits of the Second Supplement and the Note Purchase Agreement. Each holder of this Note will be deemed, by its acceptance hereof, (i) to have agreed to the terms of
the Second Supplement and the Note Purchase Agreement, including the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) to have made the representations set forth in Section 6 of the Note
Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 
 This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer
duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note of the same series and for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due
presentment for registration of transfer, the Company may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice
to the contrary. 
 This Note is subject to optional prepayment, in whole or from time to time in part, at the times and on the
terms specified in the Second Supplement and in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs
and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the state of New York excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than such state. 

 

			
	PERRIGO COMPANY
		
	By:	 	 /s/ Judy L. Brown

			
	Name:	 	Judy L. Brown
	Title:	 	Executive Vice President and Chief Financial Officer

  
 Exhibit 1-A-2

 Exhibit 1-B to Second Supplement 

[FORM OF SERIES 2011-B NOTE] 
 THE SECURITY EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND THE SECURITY EVIDENCED HEREBY
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. 

PERRIGO COMPANY 
 4.52% Senior Note, Series 2011-B, due December 15, 2023 
  

			
	No. 2011-B-[        ]	  	[Date]
	$[            ]	  	PPN: 714290 C@0

 FOR VALUE RECEIVED, the undersigned, PERRIGO COMPANY (herein called the “Company”), a
corporation organized and existing under the laws of the state of Michigan, promises to pay to
[                                        
], or registered assigns, the principal sum of $[            ] on December 15, 2023, with interest (computed on the basis of a 360-day year of twelve 30-day months)
(a) on the unpaid balance thereof at the rate of 4.52% per annum (subject to adjustment pursuant to Section 5(c) of the Second Supplement referred to below) from the date hereof, payable semiannually, on the 15th day of June and
December in each year, commencing with the June or December next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during
the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 6.52% or (ii) 2% over the rate of interest publicly
announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United
States of America at the principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred
to below. 
 This Note is one of a series of Series 2011-B Notes (herein called the “Notes”) issued pursuant to that
certain Second Supplement to Master Note Purchase Agreement dated as of September 1, 2011 (the “Second Supplement”) which supplements that certain Master Note 

  
 Exhibit 1-B-1

 
Purchase Agreement, dated as of May 29, 2008 (as from time to time amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is
entitled to the benefits of the Second Supplement and the Note Purchase Agreement. Each holder of this Note will be deemed, by its acceptance hereof, (i) to have agreed to the terms of the Second Supplement and the Note Purchase Agreement,
including the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) to have made the representations set forth in Section 6 of the Note Purchase Agreement. Unless otherwise indicated, capitalized
terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 
 This Note
is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such
holder’s attorney duly authorized in writing, a new Note of the same series and for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may
treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 

This Note is subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Second
Supplement and in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the state of New York excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than such state. 

 

			
	PERRIGO COMPANY
		
	By:	 	 /s/ Judy L. Brown

			
	Name:	 	Judy L. Brown
	Title:	 	Executive Vice President and Chief Financial Officer

  
 Exhibit 1-B-2

 Exhibit 1-C to Second Supplement 

[FORM OF SERIES 2011-C NOTE] 
 THE SECURITY EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND THE SECURITY EVIDENCED HEREBY
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. 

PERRIGO COMPANY 
 4.67% Senior Note, Series 2011-C, due September 30, 2026 
  

			
	No. 2011-C-[        ]	  	[Date]
	$[            ]	  	PPN: 714290 C#8

 FOR VALUE RECEIVED, the undersigned, PERRIGO COMPANY (herein called the “Company”), a
corporation organized and existing under the laws of the state of Michigan, promises to pay to
[                                        
], or registered assigns, the principal sum of $[            ] on September 30, 2026, with interest (computed on the basis of a 360-day year of twelve 30-day months)
(a) on the unpaid balance thereof at the rate of 4.67% per annum (subject to adjustment pursuant to Section 5(c) of the Second Supplement referred to below) from the date hereof, payable semiannually, on the 30th day of March and
September in each year, commencing with the March or September next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during
the continuance of an Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 6.67% or (ii) 2% over the rate of interest publicly
announced by JPMorgan Chase Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United
States of America at the principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred
to below. 
 This Note is one of a series of Series 2011-C Notes (herein called the “Notes”) issued pursuant to that
certain Second Supplement to Master Note Purchase Agreement dated as of September 1, 2011 (the “Second Supplement”) which supplements that certain Master Note 

  
 Exhibit 1-C-1

 
Purchase Agreement, dated as of May 29, 2008 (as from time to time amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is
entitled to the benefits of the Second Supplement and the Note Purchase Agreement. Each holder of this Note will be deemed, by its acceptance hereof, (i) to have agreed to the terms of the Second Supplement and the Note Purchase Agreement,
including the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) to have made the representations set forth in Section 6 of the Note Purchase Agreement. Unless otherwise indicated, capitalized
terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 
 This Note
is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such
holder’s attorney duly authorized in writing, a new Note of the same series and for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may
treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 

This Note is subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Second
Supplement and in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed
by, the law of the state of New York excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than such state. 

 

			
	PERRIGO COMPANY
		
	By:	 	 /s/ Judy L.
Brown

			
	Name:	 	Judy L. Brown
	Title:	 	Executive Vice President and Chief Financial Officer

  
 Exhibit 1-C-2

 Exhibit 4(c)(i) to Second Supplement 

MATTERS TO BE COVERED BY OPINION OF SPECIAL COUNSEL 
 FOR THE COMPANY 
 Capitalized terms used herein and not otherwise defined
shall have the meaning set forth in the Second Supplement (or defined by reference therein) to which this Exhibit 4(c)(i) is attached and of which this Exhibit forms a part. For purposes hereof, the term “Note Purchase Documents”
shall mean (i) the Second Supplement, (ii) the Series 2011 Notes, (iii) the Subsidiary Guaranty, (iv) the Intercreditor Agreement, and (v) the Pledge Agreement and Irrevocable Proxy (“Pledge Agreement”)
given by Perrigo International Holdings II, Inc. (“Holdings II”) in favor of the Collateral Agent dated as of October 8, 2010, (the documents listed in items (i) through (v) above are collectively referred to herein
as the “Note Purchase Documents”). 
 1. The Company (a) is a corporation validly existing and in good
standing under the laws of the State of Michigan, (b) has all requisite corporate power and authority to own or lease property and to transact business as presently conducted, and (c) has or, at the time of execution thereof, had all
requisite corporate power and authority to execute and deliver, and has all requisite corporate power and authority to perform, the Note Purchase Agreement and the Note Purchase Documents to which it is a party and to issue and sell the Series 2011
Notes. 
 2. Each of the Subsidiary Guarantors (a) is a corporation validly existing and in good standing under the laws of
its state of incorporation, and (b) has or, at the time of execution thereof, had all requisite corporate power and authority to execute and deliver, and has all requisite corporate power and authority to perform, the Note Purchase Documents to
which each Subsidiary Guarantor is a party. 
 3. The Note Purchase Agreement and the Note Purchase Documents to which the
Company is a party have been duly authorized by proper corporate action on the part of the Company, have been duly executed and delivered by an authorized officer of the Company, and constitute valid and binding agreements of the Company. If the
Note Purchase Agreement and the Note Purchase Documents to which the Company is a party were governed by the Laws of the State of Michigan, they would be enforceable against the Company in accordance with their respective terms. However, in our
opinion a Michigan court, or a Federal court sitting in Michigan, applying Michigan conflict of laws rules would honor the choice of New York Law to govern the Note Purchase Agreement and the Note Purchase Documents that provide that they are to be
governed by New York Law. 
 4. The Note Purchase Documents to which each Subsidiary Guarantor is a party have been duly
authorized by proper corporate action on the part of such Subsidiary Guarantor and have been duly executed and delivered by an authorized officer of each such Subsidiary Guarantor. 

  
 Exhibit
4(c)(i)-1 

 5. Each of the Note Purchase Documents to which each Subsidiary Guarantor is a party
constitutes a valid and binding agreement of each Subsidiary Guarantor. If the Note Purchase Documents to which the Subsidiary Guarantors are parties were governed by the Laws of the State of Michigan, they would be enforceable against each
Subsidiary Guarantor party thereto in accordance with their respective terms. However, in our opinion a Michigan court, or a Federal court sitting in Michigan, applying Michigan conflict of laws rules would honor the choice of New York Law to govern
the Note Purchase Documents that provide that they are to be governed by New York Law. 
 6. The offer, sale, and delivery of
the Series 2011 Notes by the Company and the delivery of the Subsidiary Guaranty by the Subsidiary Guarantors do not and did not at the time of delivery thereof require registration under the Securities Act of 1933, as amended, or the qualification
of an indenture under the Trust Indenture Act of 1939, as amended. 
 7. No authorization, approval or consent of, and no
registration or qualification with, any Governmental Authority is, or was at the time of delivery, required in connection with the execution, delivery and performance by (i) the Company of the Note Purchase Agreement or the Note Purchase
Documents or the offering, issuance, and sale by the Company of the Series 2011 Notes, and (ii) any Subsidiary Guarantor of the Note Purchase Documents to which such Subsidiary Guarantor is a party. 

8. The issuance and sale of the Series 2011 Notes by the Company, the performance by the Company of its obligations under the Series 2011
Notes, the Note Purchase Agreement and the Second Supplement, and the execution and delivery of the Note Purchase Documents to which it is a party by the Company do not (i) violate any applicable law or any provision of the articles of
incorporation or bylaws of the Company, or (ii) conflict with, or result in any breach or default under, or, except as permitted by the Second Supplement and the Note Purchase Agreement result in the creation or imposition of any lien, charge
or encumbrance on, the property of the Company pursuant to the provisions of any agreement or instrument known to us and to which the Company is a party or by which it or its property are bound. 

9. The execution and delivery by each Subsidiary Guarantor of the Note Purchase Documents to which such Subsidiary Guarantor is a party
and the performance of its obligations thereunder does not (i) violate any applicable law or any provision of the articles of incorporation, certificate of incorporation or bylaws of such Subsidiary Guarantor, or (ii) conflict with, or
result in any breach or default under, or, except as permitted by the Second Supplement and the Note Purchase Agreement result in the creation or imposition of any lien, charge or encumbrance on, the property of such Subsidiary Guarantor pursuant to
the provisions of any agreement or instrument known to us and to which such Subsidiary Guarantor is a party or by which it or its property are bound. 
 10. Neither the Company nor any Subsidiary Guarantor is an “investment company,” as such term is defined in the Investment Company Act of 1940, as amended. 

  
 Exhibit
4(c)(i)-2 

 11. Based on the representations and warranties set forth in the Second Supplement, the
issuance of the Series 2011 Notes and the intended use of the proceeds of the sale of the Series 2011 Notes as stated in Section 8.14 of the Second Supplement, do not violate Regulation T, U or X of the Board of Governors of the Federal Reserve
System. 
 12. The provisions of the Pledge Agreement are effective under the UCC to create in favor of the Collateral Agent a
security interest in the rights of Holdings II in that portion of the collateral of Holdings II, in which a security interest is purported to be granted under the Pledge Agreement and in which a security interest may be created under Article 9 of
the UCC (the “Article 9 Collateral”). 
 13. The Collateral Agent’s security interest in the Article 9
Collateral of Holdings II in which a security interest may be perfected by filing a financing statement under the UCC was perfected by the Collateral Agent’s filing of a financing statement on October 8, 2010, filing number 20103519406,
with the Delaware Secretary of State. 
 14. Assuming the Collateral Agent has taken delivery and retains possession in the
State of Michigan of certificates in registered form representing the securities pledged to the Collateral Agent pursuant to the Pledge Agreement (the “Pledged Securities”), and further assuming the Pledged Securities are each duly
indorsed to the Collateral Agent or in blank by an effective endorsement or are accompanied by undated stock powers with respect thereto duly indorsed to the Collateral Agent or in blank by an effective endorsement, the Collateral Agent’s
security interest in the rights of the Company in the Pledged Securities is perfected. 

  
 Exhibit
4(c)(i)-3 

 Exhibit 4(c)(ii) to Second Supplement 

FORM OF OPINION OF PURCHASERS COUNSEL 
 [September 30][December 15], 2011 
 TO THE PURCHASERS SET FORTH 

ON ANNEX 1 HERETO 
  

	Re:	Perrigo Company 

$75,000,000 4.27% Senior Notes, Series 2011-A due September 30, 2021 

$175,000,000 4.52% Senior Notes, Series 2011-B due December 15, 2023 

$100,000,000 4.67% Senior Notes, Series 2011-C due September 30, 2026 
 Ladies and Gentlemen: 
 We have acted as special counsel for each of the Purchasers named on Annex
1 hereto (the “Purchasers”) and the other purchasers listed on Schedule A to the Second Supplement (as defined below) (together with the Purchasers, collectively, the “Series 2011-A&B&C Purchasers”) in
connection with issuance and sale by Perrigo Company, a Michigan corporation (the “Company”), of (a) $75,000,000 aggregate principal amount of its 4.27% Senior Notes, Series 2011-A due September 30, 2021 (the
“Series 2011-A Notes”), (b) $175,000,000 aggregate principal amount of its 4.52% Senior Notes, Series 2011-B due December 15, 2023 (the “Series 2011-B Notes”), and (c) $100,000,000 aggregate principal
amount of its 4.67% Senior Notes, Series 2011-C due September 30, 2026 (the “Series 2011-C Notes”; [and together with the Series 2011-A Notes, collectively, the “Series 2011-A&C Notes”;] and together with
the [Series 2011-A Notes and the ] Series 2011-B Notes, collectively, the “Series 2011 Notes”). The Series 2011 Notes are being issued pursuant to that certain Second Supplement to Master Note Purchase Agreement, dated as of
September 1, 2011 (the “Second Supplement”), by and among the Company and the Series 2011-A&B&C Purchasers which supplements that certain Master Note Purchase Agreement, dated as of May 29, 2008, by and among the
Company and each of the purchasers listed on Schedule A thereto (the “Initial Note Purchase Agreement”), as amended by that certain First Amendment to Master Note Purchase Agreement, dated as of April 29, 2010 (the
“First Amendment”), as supplemented by that certain First Supplement to Master Note Purchase Agreement, dated as of April 30, 2010 (the “First Supplement”) (the Initial Note Purchase Agreement, as amended by
the First Amendment and as supplemented by the First Supplement, the “Existing Note Purchase Agreement”). Capitalized terms used herein, and not defined herein, have the respective meanings ascribed to them pursuant to the terms of
the Existing Note Purchase Agreement and the Second Supplement. 
 This opinion is delivered to you pursuant to Section 4(c)(ii) of the
Second Supplement. Our representation of the Purchasers has been as special counsel for the purposes stated above. 

  
 Exhibit
4(c)(ii)-1 

 As to all matters of fact (including factual conclusions and characterizations and descriptions of purpose,
intention or other state of mind), we have relied, with your permission, entirely upon: 
  

	 	(1)	the representations and warranties of the Company and the Purchasers set forth in the Second Supplement, and the other documents listed below; and

  

	 	(2)	certificates of public officials and of certain officers of the Company delivered in connection with the [Series 2011-A&C][Series 2011-B] Closing and the Offeree
Letter (as defined below); 

 and have assumed, without independent inquiry, the accuracy of those representations, warranties,
and certificates. 
 In connection with this opinion, we have examined originals or copies of the following documents: 

 

	 	(a)	the Initial Note Purchase Agreement, the First Amendment and the First Supplement; 

 

	 	(b)	the Second Supplement (the Existing Note Purchase Agreement, as supplemented by the Second Supplement, being referred to as the “Note Purchase
Agreement”); 

  

	 	(c)	the Series [2011-A&C][2011-B] Notes, each dated the date hereof, in the form of Exhibit [1-A or 1-C, as applicable,][1-B] to the Second Supplement and registered in
the names and in the respective principal amounts and with the respective registration numbers as set forth on Schedule A to the Second Supplement; 

  

	 	(d)	that certain Subsidiary Guaranty, dated as of May 29, 2008, given by each of the Subsidiaries of the Company party thereto, as supplemented by (i) that
certain Joinder to Subsidiary Guaranty dated as of April 23, 2010, pursuant to which Perrigo International Holdings II, Inc. agreed to become a Subsidiary Guarantor under the Subsidiary Guaranty, (ii) that certain Joinder to Subsidiary
Guaranty dated as of May 7, 2010, pursuant to which each of PBM Holdings, Inc., PBM Nutritionals, LLC, Perrigo Holland, Inc., Perrigo Florida, Inc., Perrigo New York, Inc. and Chemagis USA Inc. agreed to become a Subsidiary Guarantor under the
Subsidiary Guaranty, and (iii) that certain Joinder to Subsidiary Guaranty dated as of June 29, 2011, pursuant to which Paddock Laboratories, LLC agreed to become a Subsidiary Guarantor under the Subsidiary Guaranty (as so supplemented,
the “Existing Subsidiary Guaranty”); 

  

	 	(e)	a certificate of an officer of the Company, dated the date hereof, certifying as to the matters set forth therein; 

 

	 	(f)	a certificate of the Secretary or Assistant Secretary of the Company, dated the date hereof, and annexing thereto (among other documents) and certifying as accurate and
complete: 

  

	 	(i)	the incumbency of officers of the Company; 

  
 Exhibit
4(c)(ii)-2 

	 	(ii)	copies of corporate resolutions authorizing the Company’s participation in the transactions contemplated by the Operative Documents (as defined below);

  

	 	(iii)	a copy of the bylaws of the Company (the “Company Bylaws”); and 

 

	 	(iv)	a copy of the certificate of incorporation, including any amendments thereto, of the Company, certified by the Michigan Secretary of State (together with the Company
Bylaws, collectively, the “Company’s Governing Documents”); 

  

	 	(g)	a certificate of the Secretary or Assistant Secretary of each Subsidiary Guarantor, dated the date hereof, and annexing thereto (among other documents) and certifying
as accurate and complete: 

  

	 	(i)	the incumbency of such Subsidiary Guarantor; 

  

	 	(ii)	copies of resolutions authorizing such Subsidiary Guarantor’s participation in the transactions contemplated by the Operative Documents; 

 

	 	(iii)	a copy of the bylaws or operating agreement, as applicable, of such Subsidiary Guarantor; and 

 

	 	(iv)	a copy of the certificate of incorporation or certificate of formation, as applicable, of such Subsidiary Guarantor, including any amendments thereto, certified by the
Secretary of State of the State of such Subsidiary Guarantor’s organization (together with the bylaws of such Subsidiary Guarantor, the “Subsidiary Guarantor’s Governing Documents”); 

 

	 	(h)	a Cross Receipt evidencing receipt of funds by the Company and receipt of the Series [2011-A&C][2011-B] Notes by the Purchasers (the “Cross
Receipt”); 

  

	 	(i)	the opinion of Warner Norcross & Judd LLP, special counsel to the Company and the Subsidiary Guarantors, dated the date hereof and delivered to the Purchasers
pursuant to paragraph 4(c)(i) of the Second Supplement; and 

  

	 	(j)	a letter addressed to the Company and Bingham McCutchen LLP from J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated describing
the manner of the offering of the Series 2011 Notes (the “Offeree Letter”). 

 The Second Supplement and the
Series [2011-A&C][2011-B] Notes are hereinafter referred to collectively as the “Transaction Documents.” The Existing Note Purchase Agreement and the 

  
 Exhibit
4(c)(ii)-3 

 
Existing Subsidiary Guaranty are referred to herein collectively as the “Existing Documents”. The Transaction Documents, the Note Purchase Agreement and the Existing Subsidiary
Guaranty are hereinafter referred to as the “Operative Documents”. 
 This opinion is based entirely on our review of the
documents listed in the preceding paragraph and we have made no other documentary review or investigation for purposes of this opinion. We express no opinion as to the attachment, validity, enforceability, perfection or priority of any security
interest, mortgage or other lien or encumbrance. 
 Based on such investigation as we have deemed appropriate the opinion referred to in
subparagraph (i) above is satisfactory in form and scope to us, and in our opinion you are justified in relying thereon. 
 We have assumed
the genuineness of all signatures, the conformity to the originals of all documents reviewed by us as copies, the authenticity and completeness of all original documents reviewed by us in original or copy form, the legal competence of each
individual executing any document, and that the Company, each Subsidiary Guarantor, and each other Person executing such documents (including, without limitation, the Existing Documents and the Transaction Documents) validly exists and is in good
standing under the laws of the jurisdiction in which it was organized, had and has the power and authority to enter into and perform its obligations under all such documents under its governing organizational documents, applicable enterprise
legislation and other applicable law, and is qualified to do business and is in good standing under the laws of each jurisdiction where such qualification is required generally or necessary in order for such party to enforce its rights under such
documents. We have further assumed that such documents have been duly authorized, executed and delivered by each Person executing such documents and, as to Persons other than the Company, are binding upon and enforceable against such Persons. In
addition, we have relied, to the extent we deem necessary and proper, on the Offeree Letter without independent investigation. We have further assumed that the Existing Documents are in full force and effect prior to giving effect to the execution
of the Transaction Documents and the issuance of the Series [2011-A&C][2011-B] Notes, have not been amended or modified (except as contemplated by the Transaction Documents), and that no events have occurred that would constitute a defense
thereunder. 
 For purposes of this opinion, we have made such examination of law as we have deemed necessary. Except to the extent addressed
below in paragraph 5, this opinion is limited solely to the internal substantive laws of the State of New York as applied by courts located in the State of New York without regard to choice of law, and the federal laws of the United States of
America (except for federal and state tax, energy, utilities, national security, anti-terrorism, anti-money laundering, or antitrust laws, as to which we express no opinion), and we express no opinion as to the laws of any other jurisdiction. Our
opinion in paragraph 2 below is based solely on a review of the Company’s Governing Documents and the Subsidiary Guarantors’ Governing Documents and we have not made any analysis of the internal substantive law of the jurisdiction of
organization of the Company or any Subsidiary Guarantor, including statutes, rules or regulations or any interpretations thereof by any court, administrative body, or other government authority, and we express no opinion in paragraph 2 below as to
the internal substantive law of the Company’s or any Subsidiary Guarantor’s jurisdiction of organization. We note that the Operative Documents contain provisions stating that they are to be governed by the laws of the

  
 Exhibit
4(c)(ii)-4 

 
State of New York (each, a “Chosen-Law Provision”). Except to the extent addressed below in paragraph 5 no opinion is given herein as to any Chosen-Law Provision, or otherwise as
to the choice of law or internal substantive rules of law that any court or other tribunal may apply to the transactions contemplated by the Operative Documents. Except as set forth in paragraph 4 below, we express no opinions as to any securities
or “blue sky” laws of any jurisdiction. 
 Our opinion is further subject to the following exceptions, qualifications and assumptions,
all of which we understand to be acceptable to you: 
  

	 	(k)	We have assumed without any independent investigation (i) that the execution and delivery of the Transaction Documents and performance of the Operative Documents
by each of the parties thereto do not and will not conflict with, or result in a breach of, the terms, conditions or provisions of, or result in a violation of, or constitute a default or require any consent (other than such consents as have been
duly obtained) under, any organizational document of the Company or any Subsidiary Guarantor other than the Company’s Governing Documents and each Subsidiary Guarantor’s Governing Documents (including, without limitation, applicable
corporate charter documents and by-laws, and applicable limited liability formation documents and operating agreements), any order, judgment, arbitration award or stipulation, or any agreement, to which any of such parties is a party or is subject
or by which any of the properties or assets of any of such parties is bound, (ii) that the statements regarding delivery and receipt of documents and funds referred to in the Cross Receipt between you and the Company are true and correct, and
(iii) that the Operative Documents are valid and binding obligations of each party thereto to the extent that laws other than those of the State of New York are relevant thereto (other than the laws of the United States of America, but only to
the limited extent the same may be applicable to the Company and relevant to our opinions expressed below). 

  

	 	(l)	The enforcement of any obligations of, or any security interest granted by, any Person whether under any of the Operative Documents or otherwise, may be limited by
bankruptcy, insolvency, reorganization, moratorium, marshaling or other laws and rules of law affecting the enforcement generally of creditors’ rights and remedies (including such as may deny giving effect to waivers of debtors’ or
guarantors’ rights); and we express no opinion as to the status under any fraudulent conveyance laws or fraudulent transfer laws of any of the obligations of, or any security interest granted by, any Person whether under the Operative Documents
or otherwise. 

  

	 	(m)	We express no opinion as to the availability of any specific or equitable relief of any kind. 

 

	 	(n)	The enforcement of any of the Purchasers’ rights may in all cases be subject to an implied duty of good faith and fair dealing and to general principles of equity
(regardless of whether such enforceability is considered in a proceeding at law or in equity) and, as to any applicable rights to collateral security, will be subject to a duty to act in a commercially reasonable manner. 

  
 Exhibit
4(c)(ii)-5 

	 	(o)	We express no opinion as to the enforceability of any particular provision of any of the Operative Documents relating to: 

 

	 	(i)	waivers of rights to object to jurisdiction or venue, or consents to jurisdiction or venue; 

 

	 	(ii)	waivers of rights to (or methods of) service of process, or rights to trial by jury, or other rights or benefits bestowed by operation of law; 

 

	 	(iii)	waivers of any applicable defenses, setoffs, recoupments, or counterclaims; 

 

	 	(iv)	the granting of any power of attorney or of any proxy to any Person; 

  

	 	(v)	exculpation or exoneration clauses, clauses relating to rights of indemnity or contribution, and clauses relating to releases or waivers of unmatured claims or rights;

  

	 	(vi)	waivers or variations of legal provisions or rights which are not capable of waiver or variation under applicable law; or 

 

	 	(vii)	rights to indemnification and contribution insofar as such rights may be limited by applicable law or public policy. 

 

	 	(p)	We express no opinion as to the effect of suretyship defenses, or defenses in the nature thereof, with respect to the obligations of any guarantor, joint obligor,
surety, accommodation party, or other secondary obligor. 

  

	 	(q)	Our opinion in paragraph 3 below is based solely on a review of generally applicable laws of the State of New York and the United States of America and not on any
search with respect to, or review of, any orders, decrees, judgments or other determinations specifically applicable to the Company or any Subsidiary Guarantor. 

 

	 	(r)	We express no opinion as to the effect of events occurring, circumstances arising or changes of law becoming effective or occurring, after the date hereof on the
matters addressed in this opinion letter, and we assume no responsibility to inform you of additional or changed facts, or changes in law, of which we may become aware. 

 Based on the foregoing, we are of the following opinions: 
  

	1.	 Each of the Operative Documents to which the Company is a party constitutes a legal, valid and binding obligation of the Company, enforceable against
the Company in 

  
 Exhibit
4(c)(ii)-6 

	 	
accordance with its respective terms. Each of the Operative Documents to which any Subsidiary Guarantor is a party constitutes a legal, valid and binding obligation of such Subsidiary Guarantor,
enforceable against such Subsidiary Guarantor in accordance with its respective terms. 

  

	2.	The execution and delivery of each Transaction Document by the Company and each Subsidiary Guarantor party thereto, the issuance and sale of the Series
[2011-A&C][2011-B] Notes by the Company, and the performance of their respective obligations under the Operative Documents will not constitute a violation of the Company’s Governing Documents or any such Subsidiary Guarantor’s
Governing Documents. 

  

	3.	Except for filings or recordings that may be necessary to perfect (or maintain the perfection of) or enforce the security interests created by the Collateral Documents,
no consent, approval or authorization of, or designation, declaration, filing, registration, qualification or recordation with, any Governmental Authority is required under the laws of the State of New York or the United States of America in
connection with (a) the execution or delivery of the Transaction Documents or the performance of each of the Operative Documents, or (b) the offer, issue, sale or delivery of the Series [2011-A&C][2011-B] Notes by the Company, in each
case under the circumstances contemplated by the Operative Documents. 

  

	4.	Under the circumstances contemplated by the Operative Documents, it is not necessary to register the offer and sale to you today of the Series [2011-A&C][2011-B]
Notes under the Securities Act of 1933, as amended, or to qualify an indenture in respect of the issuance of the Series [2011-A&C][2011-B] Notes under the Trust Indenture Act of 1939, as amended. 

 

	5.	Each Chosen-Law Provision in the Operative Documents is enforceable in accordance with New York General Obligations Law section 5-1401, as applied by a New York State
court or a federal court sitting in New York and applying New York choice of law principles. 

 This opinion is delivered solely
to the Purchasers and for the benefit of the Purchasers in connection with the Second Supplement and may not be relied upon by the Purchasers for any other purpose or relied upon by any other person or entity (other than future holders of the Series
[2011-A&C][2011-B] Notes acquired in accordance with the terms of the Operative Documents) for any reason without our prior written consent. 
 Very truly yours, 
 BINGHAM McCUTCHEN LLP 

  
 Exhibit
4(c)(ii)-7

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