Document:

<![CDATA[Merck & Co., Inc. U.S. Separation Benefits Plan]]>

 EXHIBIT 10.28 
 MERCK & CO. INC. U.S. SEPARATION BENEFITS PLAN 
 Effective as of
January 1, 2012 

 MERCK & CO., INC., U.S. SEPARATION BENEFITS PLAN 

SECTION 1 

PREAMBLE 
 Merck
Sharp & Dohme Corp. established the MSD Separation Benefits Plan (the “MSD Plan”), as amended from time to time, to provide benefits to eligible non-union employees whose employment with Merck Sharp & Dohme Corp. or a
participating wholly owned subsidiary (collectively, “MSD”) was terminated under certain circumstances at the initiative of MSD. 

Schering-Plough Corporation established the Schering-Plough Separation Benefits Plan (the “Schering Plan”), as amended from time to time, for
the purpose of providing severance benefits to eligible union and non-union employees whose employment with Schering Corporation and certain of its U.S. affiliated companies was terminated under certain circumstances. 

Effective January 1, 2012, the Schering Plan merged into the MSD Plan with the MSD Plan being renamed the Merck & Co., Inc. U.S. Separation
Benefits Plan (the “Plan”). The Plan is now being amended and restated in its entirety as set forth herein. The purpose of the Plan is to provide benefits to eligible employees whose employment with an Employer is terminated at the
initiative of the Employer for reasons described below. This Plan is part of the MSD Separation Allowance Plan (Plan No. 514). 
 SECTION 2 
 DEFINITIONS 

For the purposes of this Plan, the following terms shall have the following meanings: 

2.1 “Annual Base Salary” means 
 (a) With respect to a Participant who is exempt, his or her annualized base salary in effect as of his or her Separation Date, according to the Employer’s payroll records, without reduction for any
contributions to Employer-sponsored benefit plans. For a Participant who is regularly scheduled to work less than full-time, Annual Base Salary is the reduced annual base salary applicable to the less than full-time position. 

(b) With respect to a Participant who is non-exempt, the hourly rate according to the Employer’s payroll records in effect as of his
or her Separation Date multiplied by the number of hours the Eligible Employee is regularly scheduled to work (up to a maximum of 2080 hours). 
 Annual Base Salary does not include bonuses, commissions, overtime pay, shift pay, premium pay, lump sum merit increases, cost of living allowances, income from stock options or other incentives under an
Incentive Stock Plan of the Employer (or the Parent or any of its subsidiaries), stock grants or other incentives, or other pay not specifically included above. 
 2.2 “Base Pay Rate” means 
 (a) With respect to an
Eligible Employee who is exempt, his/her annual base pay according to the Employer’s payroll records in effect as of the date the Eligible Employee is 

  
 1 

 
offered a Qualified Alternative Position or a Negotiated Job Offer. For an Eligible Employee who is regularly scheduled to work less than full-time, annual base pay is the reduced annual base pay
to the less than full-time position. 
 (b) With respect to an Eligible Employee who is non-exempt, the hourly rate according to
the Employer’s payroll records in effect as of the date the Eligible Employee is offered a Qualified Alternative Position or a Negotiated Job Offer multiplied by the number of hours the Eligible Employee is regularly scheduled to work (up to a
maximum of 2080 hours). 
 Base Pay Rate is calculated without reduction for any contributions to Employer-sponsored benefit plans. Base Pay
Rate includes applicable shift pay and premium pay but does not include bonuses, commissions, overtime pay, lump sum merit increases, cost of living allowances, income from awards granted under an Incentive Stock Plan of the Employer (or the Parent
or its subsidiaries), or other pay not specifically included above. 
 2.3 “Basic Life Insurance” means life
insurance provided to an Eligible Employee under a plan sponsored by Parent or a subsidiary of Parent equal to 1x “base pay” as defined under the life insurance plan in which the Eligible Employee participates, as it may be amended from
time to time. 
 2.4 “Benefits Continuation Period” means the period of time, as set forth on Schedule B-3,
during which a Participant is eligible to receive Separation Benefits, provided, however that the Participant may elect to end the period earlier than indicated on Schedule B-3 by notifying the Employer’s health and insurance plan administrator
(i) within the later of thirty (30) days from the Participant’s Separation Date or the date by which the Participant is provided to review the Separation Letter so that the Benefit Continuation Period ends on the date it would have
otherwise begun, or (ii) during the Employer’s annual open enrollment period for health and insurance benefits so that the Benefit Continuation Period ends the following January 1 (provided that date is not beyond the period set forth
on Schedule B-3), or (iii) mid-year with a qualified status change that otherwise permits the Participant to make a change to the Participant’s healthcare coverage in accordance with the terms of the Employer’s healthcare plan so that
the Benefits Continuation Period ends on the date the mid-year change would otherwise be effective under the terms of the Employer’s healthcare plan (provided that date is not beyond the period set forth on Schedule B-3). 

2.5 “Change in Control” shall have the meaning set forth in the CIC Plan (and, for avoidance of doubt, a valid amendment
of that definition under the CIC Plan shall constitute an amendment of this Plan without further action). 
 2.6 “CIC
Plan” means the Merck & Co., Inc. Change in Control Separation Benefits Plan, as amended and restated effective November 3, 2009, as amended by Amendment One effective February 15, 2010 and as it may be further
amended from time to time, and any successor thereto. 
 2.7 “Claims Reviewer” means the Merck & Co.,
Inc. Employee Benefits Committee (or its delegate) whose members are appointed by the Parent’s Executive Vice President of Human Resources or his or her delegate; provided, however, for Section 16 Officers, Claims Reviewer means the
Compensation and Benefits Committee of the Board of Directors of Parent or its delegate. 
 2.8 “Code” means the
Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder. 

  
 2 

 2.9 “Complete Years of Continuous Service” means (a) for a Legacy Schering
Employee, a year from the Participant’s Most Recent Hire Date with a Legacy Schering Entity to its anniversary, and thereafter from each anniversary to the next, and (b) for a Legacy Merck Employee, a year from the Participant’s Most
Recent Hire Date with a Legacy Merck Entity to its anniversary, and thereafter from each anniversary to the next. 
 2.10
“Continuous Service” means (a) for a Legacy Schering Employee, the period of a Participant’s continuous employment with a Legacy Schering Entity commencing on the Participant’s Most Recent Hire Date with a
Legacy Schering Entity and ending on the Separation Date as reflected on the Employer’s employee database, and (b) for a Legacy Merck Employee, the period of a Participant’s continuous employment with a Legacy Merck Entity commencing
on the Participant’s Most Recent Hire Date with a Legacy Merck Entity and ending on the Separation Date as reflected on the Employer’s employee database. Notwithstanding anything contained in this Plan to the contrary, employment with a
Legacy Schering Entity or a Legacy Merck Entity as an Excluded Person does not count as “Continuous Service”. 
 2.11
“Eligible Employee” means (a) any regular full-time or regular part-time employee of an Employer who is on the Employer’s normal U.S. payroll and as to whom the terms and conditions of employment are not covered by
a collective bargaining agreement unless the collective bargaining agreement specifically provides for coverage under the Plan; or (b) a U.S. Expatriate on an Employer’s normal U.S. payroll. 

The term “Eligible Employee” shall not include: 
 (i) an employee (x) who is a party to an employment agreement with the Employer or with the Parent (or any of its subsidiaries) or (y) who is entitled, upon termination of employment with the
Employer, to separation, severance, termination or other similar payments (1) under another plan or program sponsored by the Employer or Parent (or any of its subsidiaries); or (2) pursuant to a separate agreement with the Employer or
Parent (or any of its subsidiaries) or (z) who is a party to an agreement with the Employer or Parent (or any of its subsidiaries) that provides that no payment or benefits are due to the employee in connection with his or her termination of
employment; provided, however, in each case under the foregoing clauses (x), (y) and (z) unless the plan, program or agreement expressly provides for benefits under this Plan. 

(ii) a participant in the CIC Plan (but this clause shall only apply during the Protection Period (as defined in Section 8.1));

 (iii) temporary employees (including college coops, summer employees, high school coops, flexible workforce employees,
post-doctorate research fellows and any other such temporary classifications ) and/or employees called by the Employer at any time for employment in the U.S. on a non-scheduled and non-recurring basis, and who becomes an employee of the Employer
only after reporting to work for the period of time during which the person is working; 
 (iv) an Excluded Person; 

(v) employees of a non-US subsidiary of an Employer (or who are dual employees of a non-US subsidiary of an Employer) who are on
assignment in the US; 

  
 3 

 (vi) employees whose employment ends for any reason while on unapproved leaves of absence;

 (vii) employees whose employment ends for any reason while on approved leaves of absence for a period equal to or more than
six continuous months regardless of the reason(s) for the leave excluding the following approved leaves of absence: medical disability leaves, military leaves and family medical leaves under federal or state family medical leave laws and excluding
Grandfathered Legacy Schering Employees; 
 (viii) employees whose employment ends for any reason while on approved leaves of
absence for medical disability for a period equal to or more than one year excluding Grandfathered Legacy Schering Employees; and/or. 
 (ix) Grandfathered Legacy Schering Employees who have not been medically cleared to return to work or who do not return to work within two years of their first day absent. 

For purposes of the foregoing clauses (vii) and (viii), a series of leaves of absence is considered one continuous leave for purposes
of calculating the six-month or one-year requirement if the employee does not return to active employment for any reason, including but not limited to because the employee’s former position is unavailable and the employee is unable to secure a
new position. 
 Whether an individual is an Eligible Employee or not is determined as of the date of his/her Termination due to Workforce
Restructuring or for Rebadged Employees as of the date of his/her termination of employment due to an outsource transaction or for Grandfathered Legacy Schering Employees as of the date of his/her Grandfathered Legacy Schering Termination.

 2.12 “Employer” means individually and collectively, the entities identified on Schedule A attached hereto.

 2.13 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations
promulgated thereunder. 
 2.14 “Excluded Person” means a person who (i) is an independent contractor, or
agrees or has agreed that he/she is an independent contractor, or (ii) has any agreement or understanding with the Employer, or any of its affiliates that he/she is not an employee or an Eligible Employee, or (iii) is employed by a
temporary or other employment agency, regardless of the amount of control, supervision or training provided by the Employer or its affiliates, or (iv) is a “leased employee” as defined under Section 414(n) of the Internal Revenue
Code of 1986, as amended, or (v) is not treated by the Employer as an employee for purposes of withholding federal income taxes, regardless of any contrary Internal Revenue Service, governmental or judicial determination relating to such
employment status or tax withholding. An Excluded Person is not eligible to participate in the Plan even if a court, agency or other authority rules that he/she is a common-law employee of the Employer or its affiliates. 

2.15 “Grandfathered Legacy Schering Employees” means Legacy Schering Employees who (i) were absent from work on
December 31, 2011 on an approved medical leave of absence and receiving disability benefits under an Employer-sponsored disability plan and (ii) were notified on or prior to December 31, 2011 that their position was scheduled to be
eliminated. 

  
 4 

 2.16 “Grandfathered Legacy Schering Termination” means the
termination of employment by the Employer of a Legacy Schering Employee who is medically cleared to return to work within two years of his or her first day absent but does not return to work within such time period because he or she is unable to
secure a Qualified Alternate Position. 
 2.17 “Legacy Merck Employee” means an Eligible Employee who on
his or her Separation Date is employed by an Employer that is a Legacy Merck Entity. 
 2.18 “Legacy Merck
Entity” means a direct or indirect wholly owned subsidiary of Merck Sharp & Dohme Corp. 
 2.19
“Legacy Schering Employee” means an Eligible Employee who on his or her Separation Date is employed by an Employer that is a Legacy Schering Entity. 
 2.20 “Legacy Schering Entity” means a direct or indirect wholly owned subsidiary of Parent excluding each Legacy Merck Entity and excluding Inspire Pharmaceuticals,
Inc.  
 2.21 “Misconduct” means conduct which includes (a) falsification of an Employer’s or
Parent’s records/misrepresentation; (b) theft; (c) acts or threats of violence; (d) refusal to carry out assigned work; (e) unauthorized possession of alcohol or illegal drugs on an Employer’s or Parent’s premises;
(f) being under the influence of alcohol or illegal drugs during work hours; (g) willful intent to damage or destroy an Employer’s or Parent’s property; (h) violation of the Parent’s “Our Values and
Standards”; (i) acts of discrimination/harassment; (j) conduct jeopardizing the integrity of the products of an Employer, Parent or one or more of its subsidiaries; (k) violation of rules, policies, and/or practices of an
Employer or Parent; or (l) other conduct considered to be detrimental to an Employer, the Parent or one or more of its subsidiaries. 

2.22 “Most Recent Hire Date” means (a) for a Legacy Schering Employee, his or her most recent hire date at a Legacy Schering
Entity or an entity acquired by a Legacy Schering Entity as reflected on the Employer’s employee data system, and (b) for a Legacy Merck Employee, his or her most recent hire date at a Legacy Merck Entity or an entity acquired by a Legacy
Merck Entity as reflected on the Employer’s employee data system. Notwithstanding the foregoing, the most recent hire date for a Legacy Merck Employee who was employed by a Legacy Merck Entity on December 31, 1997, transferred from that
entity to Merial as of January 1, 1998, remained continuously employed by Merial through the date he or she transferred employment from Merial to a Legacy Merck Entity and whose transfer to a Legacy Merck Entity occurred between October 1,
2000 and June 1, 2001, is his or her most recent hire date on the Employer’s employee data system at a Legacy Merck Entity prior to his or her transfer to Merial. 
 2.23 “Negotiated Job Offer” means an offer of employment (or an offer of continued employment) with a successor employer or outsource vendor the terms and conditions of
which are negotiated by an Employer, Parent or one of its subsidiaries or affiliates and may include, among other things, a reduction in Base Pay Rate. 
 2.24 “Offer Outside Geographic Parameters” means a Negotiated Job Offer that results in the relocation of the Eligible Employee’s principal business location (x) more
than 50 miles from the Eligible Employee’s principal business location at the time the Negotiated Job Offer is extended and not closer to the Eligible Employee’s residence at that time or (y) more than 75 miles from the Eligible
Employee’s residence at the time the Negotiated Job Offer is extended and not closer to the Eligible Employee’s residence at that time. Whether a work location is more than 50 miles from an Eligible Employee’s principal business
location or more than 75 miles from an 

  
 5 

 
Eligible Employee’s residence (and in each case not closer to the Eligible Employee’s residence) will be determined in accordance with the Employer’s relocation policy as in effect
from time to time. For Eligible Employees who are field sales representatives/managers, the new principal business location is the geographic workload center of the new geography as determined by the Employer in its sole and absolute discretion.

 2.25 “Outplacement Benefits” means benefits for outplacement counseling or other outplacement services made available
to a Participant as provided pursuant to Section 4.4 of this Plan. 
 2.26 “Parent” means Merck & Co.,
Inc. 
 2.27 “Participant” means an Eligible Employee who has experienced a Termination due to Workforce Restructuring
and who has signed, and, if a revocation period is applicable, not revoked, a Release of Claims in a form that is satisfactory to the Employer in its sole and absolute discretion. 
 The term “Participant” shall also include, where and as applicable a Rebadged Employee and a Grandfathered Legacy Schering Employee who has experienced a Grandfathered Legacy Schering
Termination, in each case, who has signed and, if a revocation period is applicable, not revoked a Release of Claims in a form that is satisfactory to the Employer in its sole and absolute discretion. 

2.28 “Plan” means the Merck & Co., Inc., U.S. Separation Benefits Plan as set forth herein, and as may be amended from
time to time. 
 2.29 “Plan Administrator” means the Parent or its delegate. 

2.30 “Plan Year” means the calendar year January 1 through December 31 on which the records of the Plan are kept.

 2.31 “Qualified Alternative Position” means a position with an Employer, the Parent or any of its subsidiaries which
does not result in either of the following: 
 (i) a reduction in the Eligible Employee’s Base Pay Rate; or 

(ii) relocation of the Eligible Employee’s principal business location (x) more than 50 miles from the Eligible Employee’s
principal business location immediately prior to the relocation and not closer to the Eligible Employee’s residence at that time or (y) more than 75 miles from the Eligible Employee’s residence immediately prior to the relocation and
not closer to the Eligible Employee’s residence at that time. 
 Whether a work location is more than 50 miles from an
Eligible Employee’s principal business location or more than 75 miles from an Eligible Employee’s residence (and in each case not closer to the Eligible Employee’s residence) will be determined in accordance with the Employer’s
relocation policy as in effect from time to time. For Eligible Employees who are field sales representatives/managers, the new principal business location is the geographic workload center of the new geography as determined by the Employer in its
sole and absolute discretion. 

  
 6 

 Whether a position is a Qualified Alternative Position shall be determined at the time such position is
offered or communicated to the Eligible Employee or to the Grandfathered Legacy Schering Employee. 
 2.32 “Rebadged
Employee” means an Eligible Employee whose employment with the Employer is terminated by the Employer in connection with the outsourcing of work by the Employer in a transaction with a third-party vendor where the Eligible Employee is
offered a Negotiated Job Offer and: 
 (a) (i) accepts the Negotiated Job Offer; or (ii) declines the Negotiated Job
Offer, provided the Negotiated Job Offer is not an Offer Outside Geographic Parameters; and 
 (b) remains employed with the
Employer through the date established by the Employer as the employee’s Separation Date unless the Employer expressly waives this provision. 
 Whether an Eligible Employee is a Rebadged Employee shall be determined by the Employer or Parent in its sole discretion. An Eligible Employee shall not be considered to be a Rebadged Employee if his or
her employment with the Employer (i) does not end as set forth in this Section 2.32 (ii) ends due to the declination of a Negotiated Job Offer that is an Offer Outside Geographic Parameters, or (iii) ends as a result of any of
the events described in Section 3.1(e). 
 For the avoidance of doubt, a Rebadged Employee shall not be considered to have experienced a
Termination due to Workforce Restructuring for purposes of the Plan. 
 2.33 “Release of Claims” means the agreement
that an Eligible Employee must execute in order to become a Participant and to receive Separation Plan Benefits, which shall be prepared by the Employer or the Parent and shall contain such terms and conditions as determined by the Employer or the
Parent, including but not limited to a general release of claims, known or unknown, that the Eligible Employee may have against the Employer (and the Parent and any of its subsidiaries and/or affiliates), including claims related to the employment
and termination of employment of the Eligible Employee; such Release of Claims may also contain, in the Employer’s or the Parent’s discretion, other terms and conditions including, without limitation, cooperation in litigation,
non-disclosure, confidentiality, non-disparagement, non-solicitation and/or non-competition provisions. 
 2.34 “Section 16
Officer” means an “officer” as such term is defined in Rule 16(a)-1(f) of the Securities Exchange Act of 1934 of the Parent who is also an Eligible Employee of an Employer. 

2.35 “Separation Benefits” means the benefits provided pursuant to Sections 4.2 and 4.3 of this Plan. 

2.36 “Separation Date” means the Eligible Employee’s last day of employment with the Employer due to a Termination due to
Workforce Restructuring or, in the case of a Rebadged Employee, due to the outsourcing transaction. The Separation Date of an Eligible Employee who dies prior to his or her scheduled Separation Date but after he or she was notified of a scheduled
Separation Date shall be deemed to have occurred on the day before his/her date of death. For Grandfathered Legacy Schering Employees, “Separation Date” means the last day of employment with the Employer due to a Grandfathered Legacy
Schering Termination. 
 2.37 “Separation Pay” means the cash benefit payable under this Plan pursuant to
Section 4.1 or to a Rebadged Employee pursuant to Section 4.5. 

  
 7 

 2.38 “Separation Plan Benefits” means, collectively, Separation Pay, Separation
Benefits and Outplacement Benefits. 
 2.39 “Termination Due to Non-Performance” means a termination of an Eligible
Employee’s employment as determined and caused by the Employer due to the Eligible Employee’s failure to perform his or her job assignments in a satisfactory manner. 
 2.40 “Termination due to Workforce Restructuring” means the termination of an Eligible Employee’s employment as determined and caused by the Employer due to: 

 

	 	(a)	the elimination of an Eligible Employee’s job; 

  

	 	(b)	organizational changes; or 

  

	 	(c)	a general reduction of the workforce. 

 Whether
an Eligible Employee’s job is eliminated is determined by the Employer but excludes the maintenance of the position with the elimination of a part-time or job share arrangement or other flexible work arrangement. 

Organizational changes are determined by the Employer and include the following actions: discontinuance of operations, location closings, corporate
restructuring but exclude a reduction in job title, grade or band level, Base Pay Rate, short term incentive opportunity (e.g., cash bonuses under any bonus or incentive plan or program of the Parent), long-term incentive compensation
opportunity, equity compensation opportunity and/or other forms of remuneration of an Eligible Employee with or without a change in the Eligible Employee’s job duties where such reduction is due to (i) a general change in the
Employer’s or the Parent’s compensation framework as it applies to similarly situated Eligible Employees, (e.g., a change in the general compensation framework applicable to similar jobs with the Employer, or an identifiable segment of the
Employer such as a subsidiary, division or department); (ii) an action to align the Eligible Employee with the Employer’s or the Parent’s compensation and career framework as it applies to similarly situated Eligible Employees; or
(iii) a demotion or other action taken as a result of the Eligible Employee’s performance or behaviors. 
 An Eligible Employee shall
not be considered to have incurred a Termination due to Workforce Restructuring if his or her employment with the Employer (i) does not end due to this Section 2.40 (a), (b) or (c) or (ii) ends as a result of any of the
events described in Section 3.1(d). 
 For the avoidance of doubt with respect to outsourcing transactions, (x) an Eligible Employee
whose employment with the Employer is terminated by the Employer in connection with the outsourcing of work by the Employer in a transaction with a third-party vendor where the individual is offered a Negotiated Job Offer and declines the Negotiated
Job Offer because it is an Offer Outside Geographic Parameters, is considered to have incurred a Termination due to Workforce Restructuring provided his or her employment with the Employer does not end as a result of any of the events described in
Section 3.1 (d), and (y) a Rebadged Employee shall not be considered to have experienced a Termination due to Workforce Restructuring for purposes the Plan. 
 2.41 “U.S. Expatriate” means a U.S. citizen or individual with U.S. Permanent Resident status who is employed by the Employer and on assignment outside the U.S. and who is not an
Excluded Person. 

  
 8 

 SECTION 3 
 ELIGIBILITY FOR BENEFITS 
 3.1 Eligibility. 

(a) An Eligible Employee will be eligible for Separation Plan Benefits described in Section 4 (excluding Section 4.5) when
he/she experiences a Termination due to Workforce Restructuring. A Grandfathered Legacy Schering Employee will be eligible for Separation Plan Benefits described in Section 4 (excluding Section 4.5) if he or she experiences a Grandfathered
Legacy Schering Termination. Separation Plan Benefits shall be provided under this Plan to an Eligible Employee who experiences a Termination due to Workforce Restructuring or to a Grandfathered Legacy Schering Employee who experiences a
Grandfathered Legacy Schering Termination, in each case only if the Eligible Employee or Grandfathered Legacy Schering Employee has executed and, if a revocation period is applicable, not revoked a Release of Claims in a form satisfactory to the
Employer or Parent in its sole and nonreviewable discretion. An Eligible Employee or a Grandfathered Legacy Schering Employee who has executed and, if a revocation period is applicable, not revoked a Release of Claims is a Participant. 

(b) A Rebadged Employee will be eligible for Separation Pay described in Section 4.5. Separation Pay shall be provided under this
Plan to a Rebadged Employee only if the Rebadged Employee has executed and, if a revocation period is applicable, not revoked a Release of Claims in a form satisfactory to the Employer or Parent in its sole and nonreviewable discretion. A Rebadged
Employee who has executed and, if a revocation period is applicable, not revoked a Release of Claims is a Participant. A Rebadged Employee is not eligible for Separation Benefits or Outplacement Benefits. 

(c) An Eligible Employee who is a Legacy Merck Employee will also be entitled to receive those pension benefits set forth in Schedule D
(Change in Control/Pension) and retiree healthcare and life insurance benefits set forth in Schedule E (Change in Control/Retiree Healthcare and Life Insurance) if (i) a Change in Control has occurred and (ii) within two years thereafter,
the Eligible Employee’s employment with the Employer (or successor employer) is terminated by the Employer (or successor employer) for any reason other than for Misconduct, death or “Permanent Disability” (as such term is defined in
the CIC Plan). 
 (d) Notwithstanding anything herein to the contrary, an Eligible Employee shall not be considered to have
incurred a Termination due to Workforce Restructuring under the Plan if his or her employment ends as a result of any of the following events: 
 (i) a divestiture of a subsidiary, division or other identifiable segment of the Employer or Parent or a transfer of the Eligible Employee to a joint venture or other business entity in which the Employer
or the Parent directly or indirectly will own some outstanding voting or other ownership interest, in each case where either 

(x) the Eligible Employee is offered and accepts, or continues in, a Negotiated Job Offer; or 

(y) the Eligible Employee is offered and declines a Negotiated Job Offer, unless the Negotiated Job Offer is an Offer Outside Geographic
Parameters with the acquiring entity or vendor; 
 (ii) the Employer’s decision to outsource work to a
third-party vendor where the Eligible Employee is a Rebadged Employee; 

  
 9 

 (iii) the Eligible Employee’s voluntary resignation for any reason
including after reaching early or normal retirement age under the retirement plan applicable to the Eligible Employee; 
 (iv) a termination for Misconduct; 
 (v) death (unless the Eligible
Employee is not a Grandfathered Legacy Schering Employee and dies after he/she has been notified of his/her scheduled Separation Date but before the Separation Date occurs and a valid Release of Claims is executed by the Eligible Employee’s
estate) in which case the Eligible Employee’s Separation Date shall be deemed to have occurred on the day before his/her date of death; 
 (vi) the Eligible Employee terminating employment with the Employer prior to the date identified as the date the employee would experience a Termination due to Workforce Restructuring unless the Employer
expressly agreed to waive this provision; 
 (vii) failure by the Eligible Employee (other than a Legacy Schering
Grandfathered Employee) to return to work at the Employer (or the Parent or any of its subsidiaries) for any reason, including, but not limited to the Eligible Employee’s failure to secure a position at the Employer (or the Parent or any of its
subsidiaries) upon a return from a leave of absence for any reason; or 
 (viii) failure by a Legacy Schering
Grandfathered Employee to return to work at the Employer (or the Parent or any of its subsidiaries) within two years of his or her first day absent due to disability; or 

(ix) the Eligible Employee’s decision to decline a Qualified Alternative Position for any reason (including, but not
limited to because the employee is a part-time employee and is offered a full-time position, is a shift-worker and the position offered is on a different shift or has a job share or other flexible work arrangement and the position offered is not a
job share or does not include a flexible work arrangement) that is offered to the Eligible Employee prior to the Eligible Employee’s Separation Date; or 
 (x) the Eligible Employee’s decision to accept an alternate position with the Employer, Parent or any of its subsidiaries (whether or not the position is a Qualified Alternative Position) and to
later decline it; or 
 (xi) Termination Due to Non-Performance. 

(e) Notwithstanding anything herein to the contrary, an Eligible Employee shall not be considered to be a Rebadged Employee under the
Plan if his or her employment ends as a result of any of the following events: 
 (i) a divestiture of a
subsidiary, division or other identifiable segment of the Employer or Parent or a transfer of the Eligible Employee to a joint venture or other business entity in which the Employer or the Parent directly or indirectly will own some outstanding
voting or other ownership interest; 
 (ii) the Employer’s decision to outsource work to a third-party
vendor where the Eligible Employee is offered a Negotiated Job Offer and declines it because it is an Offer Outside Geographic Parameters; 
 (iii) the Eligible Employee’s voluntary resignation for any reason including after reaching early or normal retirement age under the retirement plan applicable to the Eligible Employee; 

(iv) a termination for Misconduct; 

  
 10 

 (v) death (unless the Eligible Employee is not a Grandfathered Legacy
Schering Employee and dies after he/she has been notified of his/her scheduled Separation Date but before the Separation Date occurs and a valid Release of Claims is executed by the Eligible Employee’s estate) in which case the Eligible
Employee’s Separation Date shall be deemed to have occurred on the day before his/her date of death; 
 (vi)
the Eligible Employee terminating employment with the Employer prior to the date identified by the Employer as the Separation Date unless the Employer expressly agreed to waive this provision; 

(vii) failure by the Eligible Employee (other than a Legacy Schering Grandfathered Employee) to return to work at the
Employer (or the Parent or any of its subsidiaries) for any reason, including, but not limited to the Eligible Employee’s failure to secure a position at the Employer (or the Parent or any of its subsidiaries) upon a return from a leave of
absence for any reason; 
 (viii) failure by a Legacy Schering Grandfathered Employee to return to work at the
Employer (or the Parent or any of its subsidiaries) within two years of his or her first day absent due to disability; or 
 (ix) Termination Due to Non-Performance. 
 3.2 Termination of Eligibility for
Benefits. A Participant shall cease to participate in the Plan, and all Separation Plan Benefits shall cease upon the occurrence of the earliest of: 
 (a) Termination of the Plan prior to, or more than two years following, a Change in Control; 
 (b) Inability of the Employer to pay Separation Plan Benefits when due; 
 (c)
Completion of payment to the Participant of the Separation Plan Benefits for which the Participant is eligible; and 
 (d) The
Claims Reviewer’s determination, in its sole discretion, of the occurrence of the Eligible Employee’s Misconduct, regardless of whether such determination occurs before or after the Eligible Employee’s Separation Date, unless the
Claims Reviewer determines in its sole discretion that Misconduct shall not cause the cessation of Separation Plan Benefits in a particular case. 

  
 11 

 SECTION 4 
 BENEFITS 
 4.1 Separation Pay. Separation Pay shall be payable
under this Plan to a Participant who is not a Rebadged Employee as set forth on Schedules B-1 and B-2, respectively. The terms of Schedule B-1 and Schedule B-2 are hereby fully incorporated into and shall be considered as part of Section 4 of
this Plan. For Separation Pay payable under this Plan to a Rebadged Employee, see Section 4.5 of this Plan. 
 4.2 Medical and Dental
Benefits 
 (a) A Participant who is covered under any of the Employer’s group active medical and dental plans as
of his or her Separation Date shall be provided the opportunity to elect to continue such active coverage, as it may be amended from time to time, in accordance with the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985,
Section 4980B of the Code, and Section 601, et seq., of ERISA (“COBRA”) and in accordance with the Employer’s regular COBRA coverage payment practices, at active employee rates, as the same may be changed from time to time,
for his or her Benefits Continuation Period, as determined in accordance with Schedule B-3. The terms of such Schedule B-3 are hereby fully incorporated into and shall be considered as part of Section 4 of this Plan. 

(b) A Participant who does not elect to continue active medical and/or dental coverage in accordance with COBRA shall not be eligible for
active medical and/or dental benefit continuation coverage at active employee rates during his or her Benefits Continuation Period nor will he or she be eligible to continue such active coverage during the COBRA continuation period at the full COBRA
premium. 
 (c) A Participant who, prior to his or her Separation Date, had elected no active medical or dental coverage under
the applicable medical or dental plan will not be permitted to change from no medical and/or dental coverage to coverage as a result of a Termination due to Workforce Restructuring or a Grandfathered Legacy Schering Termination. 

(d) Provided the Participant elects to continue coverage under COBRA, active medical and dental continuation coverage, as it may be
amended from time to time, at active rates shall begin on the first day of the month coincident with or following the Participant’s Separation Date and shall end on the last day of the month in which the Benefits Continuation Period ends,
provided the Participant pays the required contributions for coverage in the time and manner required under COBRA. If the Participant fails to pay the required contributions for coverage in the time and manner required under COBRA, or the
Participant elects to terminate active medical and/or dental coverage, coverage will end as of the last day of the month for which the contribution was paid and it will not be reinstated. If the Participant is eligible to participate in the retiree
medical and/or retiree dental plan of an Employer (or Parent) as of his or her Separation Date, see Section (e) below. 

(e) If, as of his or her Separation Date, a Participant is eligible to participate in a retiree medical or retiree dental plan of an
Employer (or Parent), then he or she (i) shall be eligible to continue active medical and dental benefits in accordance with this Section 4.2 and, (ii) following the completion of the Benefits Continuation Period, shall be eligible
for retiree medical and/or retiree dental benefits under the terms of retiree medical and/or retiree dental plan applicable to such Participant, as they may be amended from time to time. If a Participant is not eligible to

  
 12 

 
continue active medical and/or dental coverage during the Benefits Continuation Period (e.g., because the Participant had no active coverage on his/her Separation Date or he/she failed to timely
elect continuation coverage under COBRA) or the Participant’s active medical and/or dental coverage ends during the Benefits Continuation Period (for any reason, including non-payment), the Participant cannot enroll for medical and/or dental
coverage as a retiree until the end of the Benefits Continuation Period. If the Participant elects to end the Benefits Continuation Period earlier than the period set forth on Schedule B-3 as permitted in Section 2.4, all active medical and/or
dental benefit coverage that the Participant would otherwise have been eligible to receive during the maximum Benefits Continuation Period will be permanently and irrevocably forfeited. A Participant cannot be covered as an active employee and as a
retiree (even under the retiree no coverage option) in a medical and/or dental plan of an Employer (or Parent) during the same period. Legacy Schering Employees are not eligible for retiree dental coverage. 

(f) If, as of his or her Separation Date, a Participant is not eligible to participate in a retiree medical or retiree dental plan of an
Employer (or Parent), then following the completion of the Benefits Continuation Period (provided coverage has not terminated prior thereto for any reason, including failure to pay the required contribution) he or she may be eligible to continue
coverage in effect at the end of the Benefits Continuation Period for the remaining COBRA period, if any, in accordance with COBRA by paying the full COBRA premium. 
 (g) Rebadged Employees are not eligible for continuation of active medical and dental benefits at active contribution rates during the Benefits Continuation Period described in this Section 4.2.

 4.3 Life Insurance Benefits 
 (a) A Participant shall be eligible to continue Basic Life Insurance coverage at no cost to the Participant during his or her Benefits Continuation Period, as determined in accordance with Schedule B-3,
subject to and in accordance with the terms of the applicable life insurance plan as they may be amended from time to time. The Participant is responsible for paying applicable tax on imputed income, if any, for Basic Life Insurance coverage during
his or her Benefits Continuation Period. The terms of such Schedule B-3 are hereby fully incorporated into and shall be considered as part of Section 4 of this Plan. 
 (b) Basic Life Insurance coverage shall end on the last day of the month in which the Benefits Continuation Period ends. If the Participant elects to end the Benefits Continuation Period earlier than the
period set forth on Schedule B-3 as permitted in Section 2.4, all Basic Life Insurance coverage that the Participant would otherwise have been eligible to receive during the maximum Benefits Continuation Period will be permanently and
irrevocably forfeited. 
 (c) Rebadged Employees are not eligible for the life insurance benefits described in this
Section 4.3. 
 4.4 Outplacement Benefits. Benefits for outplacement counseling or other outplacement services, as set forth
in Schedule C, will be made available to a Participant. The terms of such Schedule C are hereby fully incorporated into and shall be considered as part of Section 4 of this Plan. Outplacement benefits shall be provided in kind; cash shall not
be paid in lieu of outplacement benefits nor will Separation Pay be increased if a Participant declines or does not use the outplacement benefits. Rebadged Employees are not eligible for outplacement benefits described in this Section 4.4.

  
 13 

 4.5. Separation Pay for Rebadged Employees. A Rebadged Employee who is a Participant shall be
eligible for Separation Pay under this Plan in an amount equal to 50% of the Separation Pay that would be payable had he or she experienced a Termination due to Workforce Restructuring. 
 For the avoidance of doubt, a Rebadged Employee shall not be eligible for any Separation Plan Benefits other than the Separation Pay described in this Section 4.5. 

4.6 Reduction of Benefits. Notwithstanding anything in this Plan to the contrary, a Participant’s Separation Pay (including Separation
Pay described in Section 4.5) and Separation Benefits, if applicable, shall be reduced by: 
 (a) any amount the Plan
Administrator reasonably concludes the Participant owes the Employer (or the Parent or any subsidiary or affiliate of the Parent) including, without limitation, unpaid bills under the corporate credit card program, and for vacation used, but not
earned; 
 (b) any severance or severance type benefits that the Employer (or the Parent or any subsidiary or affiliate of the
Parent) must pay to a Participant under applicable law; 
 (c) where permitted by law, any payments received by the Participant
pursuant to state workers compensation laws; 
 (d) short-term disability benefits where state law does not permit Separation
Pay to be offset from short-term disability benefits (or where the Employer in its sole and absolute discretion determines it is administratively easier for the Employer to reduce Separation Pay by short- term disability benefits in lieu of reducing
short-term disability benefits by Separation Pay). 
 Notwithstanding anything in the Plan to the contrary, a Participant’s Separation Pay
(including Separation Pay described in Section 4.5) and Separation Benefits are not meant to duplicate pay and benefits provided by the Employer (or the Parent or any of its subsidiaries) in connection with any Participant’s Termination
due to Workforce Restructuring or in connection with a Participant’s termination due to the outsourcing of work to a third-party vendor, including pay and benefits under the federal Worker Adjustment Retraining and Notification Act and any
state or local equivalent (collectively the “WARN Act”). If the Plan Administrator determines that a Participant is entitled to WARN Act damages or WARN Act notice, the Plan Administrator in its sole and absolute discretion may reduce the
Participant’s Separation Pay and Separation Benefits under the Plan by the WARN Act damages or pay and benefits after receiving WARN Act notice, but not below $500, with the remaining Separation Pay and Separation Benefits provided to the
Participant in accordance with the terms of the Plan in satisfaction of the Participant’s WARN Act notice rights or damages. In all other cases, Separation Pay paid under the Plan in excess of $500 will be treated as having been paid to satisfy
any WARN Act damages, if applicable. 

  
 14 

 SECTION 5 
 FORM AND TIMING OF BENEFITS; FORFEITURE 
 AND REPAYMENT OF BENEFITS

 5.1 Form and Time of Payment  
 (a) Except as otherwise provided in subsection (b), Separation Pay, less taxes and applicable deductions shall be paid in a lump sum as soon as practicable after the Participant’s Termination due to
Workforce Restructuring (or in the case of a Rebadged Employee, after termination of employment due to the outsourcing transaction) and the expiration of any period during which the Participant may consider, sign and, if a revocation period is
applicable, revoke the Release of Claims, but in no event later than March 15 of the calendar year following the year of a Participant’s Separation Date. 
 (b) If it is determined by the Employer or Parent in its discretion, that (i) the Participant is, as of his or her Separation Date, a “specified employee” (as such term is defined in
Section 409A(2)(B) of the Code); and (ii) the Separation Pay payable pursuant to the terms of the Plan constitutes nonqualified deferred compensation that would subject the Participant to “additional tax” under
Section 409A(a)(1)(B) of the Code (the “409A Tax”), then the payment of Separation Pay will be postponed to the first business day of the seventh month following the Separation Date or, if earlier, the date of the Participant’s
death. 
 5.1 Taxes. Separation Pay payable under this Plan shall be subject to the withholding of appropriate
federal, state and local taxes. 
 Notwithstanding anything in this Plan to the contrary, the Employer or Parent will take such actions as it
deems necessary, in its sole and absolute discretion, to avoid the imposition of a 409A Tax at such time and in such manner as permitted under Section 409A of the Code, including, but not limited to, reducing or eliminating benefits and
changing the time or form of payment of benefits. 
 5.3 Forfeiture of Benefits. The Employer reserves the right, in its
sole and absolute discretion, to cancel all Separation Plan Benefits and seek the return of Separation Pay in the event a Participant engages in any activity that the Employer considers detrimental to its interests (or the interests of the Parent or
any of its subsidiaries) as determined by the Parent’s Executive Vice President and General Counsel and the Parent’s Executive Vice President, Human Resources. Activities that the Employer considers detrimental to its interest (or the
interests of the Parent or any of its subsidiaries) include, but are not limited to: 
 (a) breach of any obligations of the
Participant’s terms and conditions of employment; 
 (b) making false or misleading statements about the Employer, the
Parent or any of its subsidiaries or their products, officers or employees to competitors, customers, potential customers of the Employer, the Parent or any of its subsidiaries or to current or former employees of the Employer, the Parent or any of
its subsidiaries; and 
 (c) breaching any terms of the Release of Claims, including any non-solicitation or non-competition
provisions, if applicable. 

  
 15 

 5.4 Cessation of Separation Pay and Separation Benefits. Separation Pay, Outplacement
Benefits and Separation Benefits shall cease in the event a Participant is rehired by the Employer, the Parent or one of its subsidiaries or affiliates other than Telerx Marketing, Inc. 
 5.5 Return of Separation Pay. Upon the occurrence of an event described in Section 5.3. or 5.4 of this Plan, the Participant shall repay to the Employer that portion of the lump
sum amount that would not have been paid had the Separation Pay been paid in weekly installments from the Participant’s Separation Date. If the Participant receives short-term disability benefits from the Employer after his or her Separation
Date, the Employer reserves the right to seek repayment by the Participant of that portion of the Separation Pay that would not have been paid in accordance with Section 4 6 had the Separation Pay been paid in installments. 

5.6 Death of Participant. If a Participant dies following his or her Separation Date and a valid Release of Claims was signed by the
Participant or is signed by the Participant’s estate then 
 (a) any unpaid Separation Pay will be paid to the
Participant’s estate; and 
 (b) if the Participant was eligible to continue medical and/or dental coverage during the
Benefits Continuation Period on the Participant’s date of death and the Participant’s surviving dependents were covered under the Participant’s medical and dental coverages (other than coverages applicable to retirees and their
dependents) on that date, they may continue such active coverage for the balance of the Benefits Continuation Period, provided they continue to remain eligible dependents and they pay the applicable contributions at active employee rates, as they
may change from time to time, to continue coverage. Thereafter, if, as of his or her Separation Date, such Participant (i) was eligible to participate in a retiree medical or retiree dental plan of an Employer (or Parent), then following the
completion of the Benefits Continuation Period, surviving eligible dependents shall be eligible for retiree medical and/or retiree dental benefits under the terms of retiree medical and/or retiree dental plan applicable to such Participant, as may
be amended from time to time, or (ii) was not eligible to participate in a retiree medical or retiree dental plan of an Employer (or Parent), then following the completion of the Benefits Continuation Period the surviving dependents may be
eligible to continue coverage in effect at the end of the Benefits Continuation Period for the remaining COBRA period, if any, in accordance with COBRA by paying the full COBRA premium. Legacy Schering Employees and their surviving dependents are
not eligible for retiree dental. Medical and dental coverage under this Section 5.6 (b) shall be subject to and in accordance with the terms of the applicable plans as they may be amended from time to time. 

The Separation Date of an Eligible Employee who dies prior to his or her scheduled Separation Date but after he or she was notified of a scheduled
Separation Date shall be deemed to have occurred on the day before his/her date of death. 

  
 16 

 SECTION 6 
 PLAN ADMINISTRATION 
 6.1 Plan Administrator. Parent or its delegate is the
Plan Administrator for purposes of ERISA. 
 6.2 Powers and Duties of Plan Administrator. The Plan Administrator or its delegate
shall have the full discretionary power and authority to: (i) construe and interpret the Plan (including, without limitation, supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of
the Plan); (ii) determine all questions of fact arising under the Plan, including questions as to eligibility for and the amount of benefits; (iii) establish such rules and regulations (consistent with the terms of the Plan) as it deems
necessary or appropriate for administration of the Plan; (iv) delegate responsibilities to others to assist in administering the Plan; and (v) perform all other acts it believes reasonable and proper in connection with the administration
of the Plan. The Plan Administrator or its delegate shall be entitled to rely on the records of the Employer in determining any Participant’s entitlement to and the amount of benefits payable under the Plan. Any determination of the Plan
Administrator or its delegate, including interpretations of the Plan and determinations of questions of fact, shall be final and binding on all parties. 
 With respect to determining claims and appeals for benefits under this Plan, the Claims Reviewer (and its delegate) shall be deemed to be the delegate of the Plan Administrator and shall have all of the
powers and duties of the Plan Administrator described above. 
 6.3 Additional Discretionary Authority. The Plan
Administrator may, upon written approval of the Parent’s Executive Vice President, Human Resources (written approval of the Compensation and Benefits Committee of the Board of Directors of the Parent or its delegate with respect to
Section 16 Officers), take the following actions under the Plan: 
 (a) grant some, all or any portion of the benefits
under this Plan to an employee who would not otherwise be eligible for such benefits under Section 3 above; 
 (b) waive
the requirement set forth in Section 3 for any individual Eligible Employee or group of Eligible Employees to execute a Release of Claims; and 
 (c) grant additional Separation Plan Benefits to a Participant. 

  
 17 

 SECTION 7 
 CLAIMS AND APPEALS PROCEDURES 
 7.1 Claims. 

(a) Any request or claim for benefits under the Plan must be filed by a claimant or the claimant’s authorized representative within
60 days after the date the event occurs that the claimant alleges gives rise to the claimant’s claim. 
 (b) Any request or
claim for benefits under the Plan shall be deemed to be filed when a written request made by the claimant or the claimant’s authorized representative addressed to the Claims Reviewer at the address below is received by the Claims Reviewer.

 Claims Reviewer for the Separation Benefits Plan 
 c/o Secretary of the Merck & Co., Inc. Employee Benefits Committee 

Merck & Co., Inc. 
 One Merck Drive, WS3B-35 
 P.O. Box 100 

Whitehouse Station, NJ 08889-0100 
 The claim for benefits shall be reviewed by, and a determination shall be made by, the Claims Reviewer, within the timeframe required for notice of adverse benefit determinations described below.

 (c) The Claims Reviewer shall provide written or electronic notification to the claimant or the claimant’s authorized
representative of any “adverse benefit determination.” Such notice shall be provided within a reasonable time but not later than 90 days after the receipt by the Claims Reviewer of the claimant’s claim, unless the Claims Reviewer
determines that special circumstances require an extension of time for processing the claim. If the Claims Reviewer determines that an extension of time for processing is required, written notice of the extension shall be furnished to the claimant
before the expiration of the initial 90-day period indicating the special circumstances requiring an extension and the date by which the Claims Reviewer expects to render the benefit determination. No extension can exceed 90 days from the end of the
initial 90-day period (i.e., 180 days from the receipt of the claim by the Claims Reviewer) without the consent of the claimant or the claimant’s authorized representative. 

(d) An “adverse benefit determination” is a denial, reduction, or termination of, or a failure to provide or make payment (in
whole or part) for a benefit, including one that is based on a determination of a claimant’s eligibility to participate in the Plan. 
 (e) The notice of adverse benefit determination shall be written in a manner calculated to be understood by the claimant and shall: 

(i) set forth the specific reasons for the adverse benefit determination; 

(ii) contain specific references to Plan provisions on which the determination is based; 

(iii) describe any material or information necessary for the claim for benefits to be allowed and an explanation of why
such information is necessary; and 

  
 18 

 (iv) describe the Plan’s appeal procedures and the time limits
applicable to such procedures, including a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse benefit determination on review. 
 7.2 Appeals of Adverse Benefit Determinations. 
 (a) Any
request to review the Claims Reviewer’s adverse benefit determination under the Plan must be filed by a claimant or the claimant’s authorized representative in writing within 60 days after receipt by the claimant of written notification of
adverse benefit determination by the Claims Reviewer. If the claimant or the claimant’s authorized representative fails to file a request for review of the Claims Reviewer’s adverse benefit determination in writing within 60 days after
receipt by the claimant of written notification of adverse benefit determination, the Claims Reviewer’s determination shall become final and conclusive. 
 (b) Any request to review an adverse benefit determination under the Plan shall be deemed to be filed when a written request is made by the claimant or the claimant’s authorized representative
addressed to the Employee Benefits Committee at the address below is received by the Secretary of the Employee Benefits Committee. 
 Merck & Co., Inc. Employee Benefits Committee 
 c/o Secretary Employee
Benefits Committee 
 Merck & Co., Inc. 
 One Merck Drive, WS3B-35 
 P. O. Box 100 

Whitehouse Station, NJ 08889-0100 
 (c) If the claimant or the claimant’s authorized representative timely files a request for review of the Claims Reviewer’s adverse benefit determination as specified in this Section 7.2,
the Employee Benefits Committee shall re-examine all issues relevant to the original adverse benefit determination taking into account all comments, documents, records, and other information submitted by the claimant or the claimant’s
authorized representative relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. Any such claimant or his or her duly authorized representative may: 

(i) upon request and free of charge have reasonable access to, and copies of, all documents, records, and other
information relevant to the claimant’s claim for benefits; whether an item is relevant shall be determined by the Employee Benefits Committee in accordance with 29 CFR 2560.503-1 (m)(8); and 

(ii) submit in writing any comments, documents, records, and other information relating to the claim for benefits.

 (d) The Claims Reviewer shall provide written or electronic notice to the claimant or the claimant’s authorized
representative of its benefit determination on review. Such notice shall be provided within a reasonable time but not later than 60 days after the receipt by the Claims Reviewer of the claimant’s request for review, unless the Claims Reviewer
determines that special circumstances require an extension of time for processing the request for review. If the Claims Reviewer determines that an extension of time for processing is required, written notice of the extension shall be furnished to
the claimant before the expiration of the initial 60-day period indicating the special circumstances requiring an extension and the date by which the Claims Reviewer expects to render the benefit determination. No extension can exceed 60 days from
the end of the initial 60-day period (i.e., 120 days from the date the request for review is received by 

  
 19 

 
the Claims Reviewer) without the consent of the claimant or the claimant’s authorized representative. 
 (e) If the claimant’s appeal is denied, the notice of adverse benefit determination on review shall be written in a manner calculated to be understood by the claimant and shall: 

(i) set forth the specific reasons for the adverse benefit determination on review; 

(ii) contain specific references to Plan provisions on which the benefit determination is based; 

(iii) contain a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to,
and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits; whether an item is relevant shall be determined by the Claims Reviewer in accordance with 29 CFR 2560.503-1 (m)(8); and 

(iv) include a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA. 

  
 20 

 SECTION 8 
 AMENDMENT AND TERMINATION 
 8.1 Amendment and Termination. 

(a) Except as otherwise set forth in subsection (b) below, Parent or its delegate has the right to amend, suspend or terminate the
Plan at any time without prior notice to or the consent of any employee; provided, however, that amendments that apply only to Section 16 Officers must also be approved by the Compensation and Benefits Committee of the Board of Directors of
Parent or its delegate. No such amendment shall give the Employer or Parent the right to recover any amount paid to a Participant prior to the date of such amendment. Any such amendment, however, may cause the cessation and discontinuance of
payments of Separation Plan Benefits to any person or persons under the Plan. 
 (b) Except to the extent required by applicable
law, for the entirety of the Protection Period, the material terms of the Plan, including this Section 8.1, shall not be modified in any manner that is materially adverse to a Qualifying Participant. 

(c) Parent or any such successor to Parent, shall pay all legal fees and related expenses (including the costs of experts, evidence and
counsel) reasonably and in good faith incurred by a Qualifying Participant if the Qualifying Participant prevails on his or her claim for relief in an action (x) by the Qualifying Participant claiming that the provisions of this
Section 8.1 have been violated (but, for the avoidance of doubt, excluding claims for plan benefits in the ordinary course) and (y) if applicable, by the Employer, Parent or its successor to enforce post-termination covenants against the
Qualifying Participant. 
 (d) Definitions. For purposes of this Section 8.1: 

(i) “Protection Period” shall mean the period beginning on the date of the Change in Control and ending
on the second anniversary of the date of the Change in Control; and 
 (ii) “Qualifying
Participant” shall mean an individual who is an Eligible Employee or a Participant as of the date immediately prior to the Change in Control. 

  
 21 

 SECTION 9 
 GENERAL PROVISIONS 
 9.1 Unfunded Obligation. Separation Plan Benefits
provided under this Plan shall constitute an unfunded obligation of the Employer. Payments shall be made, as due, from the general funds of the Employer. This Plan shall constitute solely an unsecured promise by the Employer to pay such benefits to
Participants to the extent provided herein. 
 9.2 Applicable Law. It is intended that the Plan be an “employee welfare
benefit plan” within the meaning of Section 3(1) of ERISA, and the Plan shall be administered in a manner consistent with such intent. The Plan and all rights thereunder shall be governed and construed in accordance with ERISA and, to the
extent not preempted by federal law, with the laws of the state of New Jersey, wherein venue shall lie for any dispute arising hereunder. 

9.3 Severability. If any provision of this Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall
not affect the remaining parts of this Plan, but this Plan shall be construed and enforced as if said illegal or invalid provision had never been included herein. 
 9.4 Employment at Will. Nothing contained in this Plan shall give an employee the right to be retained in the employment of the Employer or shall otherwise modify the employee’s at will
employment relationship with the Employer. This Plan is not a contract of employment between the Employer and any employee. 
 9.5 Heirs,
Assigns, and Personal Representatives. The Plan shall be binding upon the heirs, executors, administrators, successors, and assigns of the parties, including each Participant, present and future. 

9.6 Payments to Incompetent Persons, Etc. Any benefit payable to or for the benefit of a minor, an incompetent person or other person
incapable of receipting therefore shall be deemed paid when paid to such person’s guardian or to the party providing or reasonably appearing to provide for the care of such person, and such payment shall fully discharge the Employer, Parent,
the Plan Administrator, the Claims Administrator and all other parties with respect thereto. 
 9.7 Lost Payees. Benefits shall be
deemed forfeited if the Plan Administrator is unable to locate a Participant to whom Separation Plan Benefits are due. Such Separation Plan Benefits shall be reinstated if application is made by the Participant for the forfeited Separation Plan
Benefits within one year of the Participant’s Separation Date and while the Plan is in operation. 

  
 22 

 SCHEDULE A 
 List of participating Employers: 
 All U. S. direct and indirect wholly owned subsidiaries of
Merck & Co. Inc. excluding the following: 
 Comsort, Inc. 

Inspire Pharmaceuticals, Inc. 
 Telerx Marketing, Inc. 

  
 23 

 SCHEDULE B-1 
 Separation Pay for Participants with a 
 Separation Date
Occurring in 2012 
 Amount of Separation Pay in weeks (Annual Base Salary divided by 52) 

 

									
	 Complete

Years of

Continuous

Service at
 Separation Date
	  	BAND / LEGACY GRADE LEVEL*
	  	Band 200
(M10–M14;
A;
Non-Exempt)	  	Band 300
(M07–M09; B)	  	Band 500/400
(M04–M06;
D2/D1/C)	  	Band 800-600
(M01–M03;
0/D4/D3)
	0	  	10	  	12	  	18	  	26
	1	  	10	  	12	  	18	  	41
	2	  	10	  	12	  	18	  	45
	3	  	10	  	12	  	18	  	47
	4	  	10	  	12	  	20	  	49
	5	  	12	  	14	  	22	  	51
	6	  	14	  	16	  	24	  	53
	7	  	16	  	18	  	26	  	55
	8	  	18	  	20	  	28	  	57
	9	  	20	  	22	  	30	  	59
	10	  	22	  	24	  	32	  	61
	11	  	24	  	26	  	34	  	63
	12	  	26	  	28	  	36	  	65
	13	  	28	  	30	  	38	  	67
	14	  	30	  	32	  	40	  	69
	15	  	32	  	34	  	42	  	71
	16	  	34	  	36	  	44	  	73
	17	  	36	  	38	  	46	  	75
	18	  	38	  	40	  	48	  	77
	19	  	40	  	42	  	50	  	78
	20	  	42	  	44	  	52	  	78
	21	  	44	  	46	  	54	  	78
	22	  	46	  	48	  	56	  	78
	23	  	48	  	50	  	58	  	78
	24	  	50	  	52	  	60	  	78
	25	  	52	  	54	  	62	  	78
	26	  	54	  	56	  	64	  	78
	27	  	56	  	58	  	66	  	78
	28	  	58	  	60	  	68	  	78
	29	  	60	  	62	  	70	  	78
	30	  	62	  	64	  	72	  	78
	31	  	64	  	66	  	74	  	78
	32	  	66	  	68	  	76	  	78
	33	  	68	  	70	  	78	  	78
	34	  	70	  	72	  	78	  	78
	35	  	72	  	74	  	78	  	78
	36	  	74	  	76	  	78	  	78
	37	  	76	  	78	  	78	  	78
	38+	  	78	  	78	  	78	  	78

  

	*	If a Participant’s Separation Date occurs on or after the effective date of the band, pathway and level assigned to the Participant under Merck’s new
Compensation and Career Framework but before January 1, 2013, the number of weeks of Separation Pay will be equal to the higher of (a) the number of weeks corresponding to the band assigned to the Participant under Merck’s
Compensation and Career Framework as of his or her Separation Date, and (b) the number of weeks corresponding to the Participant’s legacy company grade immediately preceding the Participant’s conversion to the new framework, each as
determined by the Parent in its sole and absolute discretion. 

  
 24 

 SCHEDULE B-2 
 Separation Pay for Participants with a 
 Separation Date
Occurring on or after January 1, 2013 
 Amount of Separation Pay in weeks (Annual Base Salary divided by 52)

  

													
	 Complete

Years of

Continuous

Service at

Separation

Date
	  	BAND LEVEL
	  	Band 200	  	Band 300	  	Band 400	  	Band 500	  	Band 600	  	Band 700/800
	0	  	10	  	12	  	18	  	24	  	26	  	26
	1	  	10	  	12	  	18	  	24	  	32	  	40
	2	  	10	  	12	  	18	  	24	  	32	  	40
	3	  	10	  	12	  	18	  	24	  	32	  	40
	4	  	10	  	12	  	18	  	24	  	32	  	40
	5	  	12	  	14	  	20	  	26	  	34	  	42
	6	  	14	  	16	  	22	  	28	  	36	  	44
	7	  	16	  	18	  	24	  	30	  	38	  	46
	8	  	18	  	20	  	26	  	32	  	40	  	48
	9	  	20	  	22	  	28	  	34	  	42	  	50
	10	  	22	  	24	  	30	  	36	  	44	  	52
	11	  	24	  	26	  	32	  	38	  	46	  	54
	12	  	26	  	28	  	34	  	40	  	48	  	56
	13	  	28	  	30	  	36	  	42	  	50	  	58
	14	  	30	  	32	  	38	  	44	  	52	  	60
	15	  	32	  	34	  	40	  	46	  	54	  	62
	16	  	34	  	36	  	42	  	48	  	56	  	64
	17	  	36	  	38	  	44	  	50	  	58	  	66
	18	  	38	  	40	  	46	  	52	  	60	  	68
	19	  	40	  	42	  	48	  	54	  	62	  	70
	20	  	42	  	44	  	50	  	56	  	64	  	72
	21	  	44	  	46	  	52	  	58	  	66	  	74
	22	  	46	  	48	  	54	  	60	  	68	  	76
	23	  	48	  	50	  	56	  	62	  	70	  	78
	24	  	50	  	52	  	58	  	64	  	72	  	78
	25	  	52	  	54	  	60	  	66	  	74	  	78
	26	  	54	  	56	  	62	  	68	  	76	  	78
	27	  	56	  	58	  	64	  	70	  	78	  	78
	28	  	58	  	60	  	66	  	72	  	78	  	78
	29	  	60	  	62	  	68	  	74	  	78	  	78
	30	  	62	  	64	  	70	  	76	  	78	  	78
	31	  	64	  	66	  	72	  	78	  	78	  	78
	32	  	66	  	68	  	74	  	78	  	78	  	78
	33	  	68	  	70	  	76	  	78	  	78	  	78
	34	  	70	  	72	  	78	  	78	  	78	  	78
	35	  	72	  	74	  	78	  	78	  	78	  	78
	36	  	74	  	76	  	78	  	78	  	78	  	78
	37	  	76	  	78	  	78	  	78	  	78	  	78
	38+	  	78	  	78	  	78	  	78	  	78	  	78

  
 25 

 SCHEDULE B-3 
 MEDICAL / DENTAL AND LIFE INSURANCE CONTINUATION 
  

			
	 COMPLETE YEARS OF

CONTINUOUS SERVICE AT
 SEPARATION DATE
	  	BENEFITS
CONTINUATION
PERIOD
	< 5	  	26 weeks
	5 – 9.9	  	39 weeks
	10 – 19.9	  	52 weeks
	20+	  	78 weeks

  
 26 

 SCHEDULE C 
 OUTPLACEMENT BENEFITS 
  

					
	 BAND / GRADE LEVEL*
	  	 BENEFIT
	  	 DURATION

	 Band 200
 (M10 – M14; A;
Non-Exempt)
	  	Individual Career Transition Seminar and Counseling	  	 •      2 day Milestones Seminar

 
 •      Up
to six (6) individual follow-up consulting sessions
  
 •      3 months access to Career Resource Network

			
	 Band 300
 (M07/M08/M09;
B)
	  	Career Assistance Program	  	3 Months
			
	 Band 400
 (M05/M06;
D1/C)
	  	Career Transition Service	  	6 Months
			
	 Band 600/500
 (M03/M04;
O1/D4/D3/D2)
	  	Executive Service	  	12 Months
			
	 Band 800/700
 (M01/M02;
O4/O3/O2)
	  	Senior Executive Service	  	12 Months

  

	*	If a Participant’s Separation Date occurs on or after the effective date of the band, pathway and level assigned to the Participant under Merck’s new
Compensation and Career Framework but before January 1, 2013, the number of weeks of Separation Pay will be equal to the higher of (a) the number of weeks corresponding to the band assigned to the Participant under Merck’s
Compensation and Career Framework as of his or her Separation Date, and (b) the number of weeks corresponding to the Participant’s legacy company grade immediately preceding the Participant’s conversion to the new framework, each as
determined by the Parent in its sole and absolute discretion. 

 The Outplacement Benefits are provided through a third party
vendor. The vendor and/or the programs may change from time to time. 

  
 27 

 SCHEDULE D (Change in Control/Pension) 

Description of Change-in-Control Benefits under the 
 MSD Salaried Retirement Plan (the “MSD Pension Plan”) 
 This Schedule
describes benefits under the MSD Pension Plan and the Supplemental Plan provided to an Eligible Employee under the Plan if such Eligible Employee signs and returns the release of claims in use under the CIC Plan. 

I. If an Eligible Employee’s employment is terminated in circumstances entitling him or her to the benefits provided in Section 3(c) of the
Plan: 
 1. For an Eligible Employee who is a Legacy Merck Employee and who participates in the MSD Pension Plan
and on his or her Separation Date is not at least age 55 with at least ten years of Credited Service under the Pension Plan but would attain at least age 50 and have at least ten years of Credited Service under the Pension Plan within two years
following the date of the Change in Control (assuming continued employment during the entirety of such two-year period), then the Eligible Employee shall be deemed to be eligible for a subsidized early retirement benefit under the Pension Plan
commencing no earlier than age 55 based on his or her Credited Service under the MSD Pension Plan accrued as of his or her Separation Date. 
 2. For an Eligible Employee who is a Legacy Merck Employee and participates in the MSD Pension Plan and on his or her Separation Date is not at least age 65 but would attain at least age 65 within two
years following the date of the Change in Control without regard to years of Credited Service (assuming continued employment during the entirety of such two-year period), then the Eligible Employee shall be deemed to be eligible for a benefit
unreduced for early commencement under the MSD Pension Plan commencing as soon after his or her Separation Date that he or she elects to commence to receive benefits. 

3. For an Eligible Employee who is a Legacy Merck Employee who participates in the MSD Pension Plan and on his or her
Separation Date is not eligible for the “Rule of 85 Transition Benefit” (as such term is defined in the MSD Pension Plan) but would have been eligible for the Rule of 85 Transition Benefit within two years following the date of the Change
in Control (assuming continued employment during the entirety of such two-year period), then the Eligible Employee shall be deemed to be eligible for the Rule of 85 Transition Benefit upon commencement of his or her pension benefit under the Pension
Plan. 
 II. The benefits described in this Schedule D shall be payable from the MSD Pension Plan and, to the extent that such benefits cannot
be paid from the MSD Pension Plan the Employer may, to the extent it deems necessary or appropriate (including to comply with applicable law and to preserve grandfathered status of arrangements subject to Section 409A of the Code), cause such
benefits to be paid under a Supplemental Plan or under new arrangements or from the Employer’s general assets. 

  
 28 

 SCHEDULE E (Change in Control/Retiree Healthcare and Life Insurance) 

Description of Change-in-Control Benefits under the MSD Medical Plan for Nonunion Employees 

and the MSD Dental Plan for Nonunion Employees (which plans are part of the MSD Medical, 

Dental and Long-Term Disability Plan for Nonunion Employees) (the “Health Plan”) and the 

MSD Group Term Life and Optional Insurance Plan (the “Life Insurance Plan”) 

This Schedule describes benefits under the Health Plan and the Life Insurance Plan provided to an Eligible Employee under the Plan if
such Eligible Employee signs and returns the release of claims in use under the CIC Plan. 
 I. If an Eligible Employee’s employment is
terminated in circumstances entitling him or her to the benefits provided in Section 3(c) of the Plan: 

(1) If the Eligible Employee is eligible to participate in the Health Plan and on his or her Separation Date is not at
least age 55 with the requisite amount of service with an Employer to satisfy the requirements to be considered a retiree under the Health Plan but would attain at least age 50 and meet the service requirements to be considered a retiree under the
Health Plan within two years following the date of the Change in Control (assuming continued employment during the entirety of such two-year period), then the Eligible Employee shall be eligible for retiree healthcare benefits under the Health Plan
on his or her Separation Date on the same terms and conditions applicable to salaried U.S.-based employees of the Employer whose employment terminated the last day of the month prior to the Eligible Employee’s Separation Date who were treated
as retirees under the Health Plan as of that date. 
 (2) If the Eligible Employee is eligible to participate in
the Health Plan and on his or her Separation Date is not either at least age 65 or at least age 55 with the requisite amount of service with an Employer to satisfy the requirements to be considered a retiree under the Life Insurance Plan but would
attain at least age 65 or at least age 50 and meet the service requirements to be considered a retiree under the Life Insurance Plan within two years following the date of the Change in Control (assuming continued employment during the entirety of
such two-year period), then the Eligible Employee shall be eligible for retiree life insurance benefits under the Life Insurance Plan on his or her Separation Date on the same terms and conditions applicable to salaried U.S.-based employees of the
Employer whose employment terminated the last day of the month prior to the Eligible Employee’s Separation Date who were treated as retirees under the Life Insurance Plan as of that date. 

II. MSD may, to the extent it deems necessary or appropriate (including to comply with applicable law and to preserve grandfathered status of
arrangements subject to Section 409A of the Code), cause the benefits set forth in this Schedule E to be provided from insured arrangements, or pursuant to new arrangements, individual arrangements or otherwise. 

  
 29Important Information on the Separation Program

 EXHIBIT 10.29 
 IMPORTANT INFORMATION ON THE SEPARATION PROGRAM 
 APPLICABLE TO LEGACY
MERCK 
 “REBADGED EMPLOYEES” 
 This Brochure applies to “Legacy Merck Employees” as defined in the Merck & Co., Inc. US Separation Benefits Plan (the “Separation Benefits Plan”) who are “Rebadged
Employees” (as defined in the Separation Benefits Plan) 
 This Brochure does not apply to Legacy Merck Employees who are
“Separated Employees,” “Separated Retirement Eligible Employees,” or “Bridge-Eligible Employees” as those terms are defined in the brochures applicable to those groups. If you are a Legacy Merck Employee who is a
“Separated Employee,” “Separated Retirement Eligible Employee,” or “Bridge-Eligible Employee,” see the brochure that applies to you. 
 Effective Date: As of January 1, 2012 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

 Table Of Contents 

 

					
	Brochure Overview	  	 	3	  
		
	Separation Program Overview	  	 	4	  
		
	Retirement Plan	  	 	5	  
	 •      “Terminated Vested”—If You Are Not Pension Retirement Eligible or You
Are Pension Bridge Eligible and You Do Not Sign the Separation Letter
	  	 	5	  
	 •      “Retired”—If You Are Pension Retirement Eligible—Whether or Not You
Sign the Separation Letter
	  	 	5	  
	 •      Separation Program—Pension Bridge—If You Are Pension Bridge Eligible
And You Sign the Separation Letter
	  	 	6	  
	 •      Separation Program—Rule of 85 Transition Benefit—If You Are Pension
Retirement Eligible And You Sign the Separation Letter
	  	 	8	  
	 •      Retirement Plan—Other Information
	  	 	9	  
		
	Medical (including Prescription Drug) and Dental	  	 	10	  
	 •      COBRA—If You Are Not Retiree Healthcare Eligible or You Are Retiree Healthcare
Bridge Eligible And You Do Not Sign the Separation Letter
	  	 	10	  
	 •      Retiree Healthcare—If You Are Retiree Healthcare Eligible; Separation
Program—If You Are Retiree Healthcare Bridge Eligible and You Sign the Separation Letter
	  	 	11	  
	 •      Merck Retiree Healthcare Benefits—In General
	  	 	11	  
	 •      Coordination with Medicare
	  	 	13	  
		
	Life Insurance	  	 	13	  
		
	Health and Life Insurance Benefits Overview Chart	  	 	14	  
		
	Stock Options, Restricted Stock Units and Performance Stock Units	  	 	14	  
	 •      “Separated” or “Involuntarily Terminated” For Purposes of Stock
Options, RSUs and PSUs—If You Are Not Pension Retirement Eligible or You Are Pension Bridge Eligible and You Do Not Sign the Separation Letter
	  	 	14	  
	 •      Stock Options (separation /involuntary termination terms)
	  	 	15	  
	 •      RSUs (separation /involuntary termination terms)
	  	 	15	  
	 •      PSUs (separation /involuntary termination terms)
	  	 	16	  
	 •      “Retired” For Purposes of Stock Options, RSUs and PSUs—If You Are
Pension Retirement Eligible; Separation Program—If You Are Pension Bridge Eligible And You Sign the Separation Letter
	  	 	16	  
	 •      Stock Options (retirement terms)
	  	 	17	  
	 •      RSUs (retirement terms)
	  	 	17	  
	 •      PSUs (retirement terms)
	  	 	18	  

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

1 

  

					
	Annual Incentive Program/Executive Incentive Program (“AIP/EIP”)	  	 	18	  
	 •      If You Are Not Pension Retirement Eligible And Your Separation Date Occurs Between
January 1 And June 30
	  	 	19	  
	 •      Separation Program—If You Are Not Pension Retirement Eligible and Your
Separation Date Occurs On or After July 1 and On Or Before December 31 or You Are Pension Retirement Eligible and, In Either Case You Sign the Separation Letter
	  	 	19	  
	 •      If You Are Pension Retirement Eligible and You Do Not Sign the Separation
Letter
	  	 	20	  
		
	Other Benefits And Programs	  	 	21	  
	 •      Business Travel Accident
	  	 	21	  
	 •      Dependent Care Flexible Spending Account
	  	 	21	  
	 •      Group Auto & Homeowners Insurance
	  	 	21	  
	 •      Group Legal Plan
	  	 	21	  
	 •      Health and Insurance Benefits
	  	 	21	  
	 •      Health Care Flexible Spending Account
	  	 	22	  
	 •      Long Term Care
	  	 	22	  
	 •      Long Term Disability
	  	 	22	  
	 •      Merck Deferral Program
	  	 	23	  
	 •      Sales Incentive Plan
	  	 	23	  
	 •      Savings Plan
	  	 	23	  
	 •      Short Term Disability
	  	 	24	  
	 •      Vacation Pay/Floating Holidays
	  	 	24	  
	 •      Vision
	  	 	24	  
		
	Other Important Information	  	 	25	  
		
	Glossary of Definitions	  	 	26	  

 Note: Capitalized Terms used in this Brochure are generally defined in the Glossary of Definitions. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

2 

 Brochure Overview 
 This Brochure summarizes the benefits for which a “Legacy Merck Employee” who is a “Rebadged Employee” (as such terms are defined in the Separation Benefits Plan) may be eligible under
Merck’s Separation Program and other employee benefit plans and programs of Merck & Co., Inc. and its subsidiaries. Unless otherwise noted, it is not an official plan document. The terms and conditions of Merck’s employee benefit
plans and programs applicable on an employee’s termination of employment from the Employer are as described in the official plan documents, including applicable summary plan descriptions (“SPDs”) and applicable summaries of material
modification, in each case previously provided to you or provided to you with this Brochure, as such plans and programs (and the applicable SPDs) may be amended from time to time. A copy of the applicable SPDs and applicable summaries of material
modification can be obtained on line at http://one.merck.com/sites/sa/en-us/Pages/USMerckSummaryPlanDescriptions.aspx or by calling the Merck Benefits Service Center at Fidelity at 800-666-3725. Unless otherwise noted below, to the extent the
information in this Brochure differs from the official plan documents, the official plan documents will control. 
 Rebadged Employees are only
those employees who are designated by the Employer or the Parent as “Rebadged Employees.” Benefits described in this Brochure only apply to Legacy Merck Employees who are Rebadged Employees and do not apply to any other employees of Merck
or its subsidiaries or affiliates, including the Employer. 
 If you have been designated as a Rebadged Employee, the Employer or Parent will
provide you with the Separation Letter. In order to receive the benefits under the Separation Program for which a release of claims is required, you must sign and return the Separation Letter by the date stated in the letter (the “Separation
Letter Return Date”). 
 You are considered to have signed the Separation Letter if you sign and return the Separation Letter by the
Separation Letter Return Date and, if a revocation period is applicable to you, do not revoke the Separation Letter within the revocation period. You are considered to have not signed the Separation Letter if you either (i) do not sign and
return the Separation Letter by the Separation Letter Return Date, or (ii) sign and return the Separation Letter by the Separation Letter Return Date and, if a revocation period is applicable to you, revoke the Separation Letter within the
revocation period. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

3 

 Separation Program Overview 
 All benefits under the Separation Program applicable to Rebadged Employees are contingent upon the Rebadged Employee signing the Separation Letter unless otherwise indicated below. They consist of:

  

	 	•	 	 Separation Pay (under the terms of the Separation Benefits Plan applicable to a Rebadged Employee) 

 

	 	•	 	 Eligibility for a special payment in lieu of an AIP/EIP bonus for the performance year in which his or her Separation Date occurs

  

	 	•	 	 If he or she is Pension Retirement Eligible; or 

  

	 	•	 	 If he or she is not Pension Retirement Eligible and his or her Separation Date occurs on or after July 1 and on or before December 31 of that
performance year 

  

	 	•	 	 Eligibility for retiree healthcare for those who are Retiree Healthcare Bridge Eligible on their Separation Date 

 

	 	•	 	 A pro-rata portion of certain early retirement subsidies under the Retirement Plan, including the Social Security Bridge Transition Benefit and
treatment as a retiree under the Retirement Plan (“Pension Bridge”) for those who are Pension Bridge Eligible on their Separation Date 

  

	 	•	 	 Rule of 85 Transition Benefit under the Retirement Plan (for those who are Pension Retirement Eligible but not eligible for the benefit on their
Separation Dates and who would have attained it within two years of their Separation Dates) 

  

	 	•	 	 For purposes of unexercised stock options and restricted stock units and performance stock units 

 

	 	•	 	 Treatment as a retiree for those who are Pension Retirement Eligible on their Separation Date (signing the Separation Letter not required)

  

	 	•	 	 Treatment as a retiree for those who are Pension Bridge Eligible 

 

	 	•	 	 Treatment under the separation/involuntary termination terms (signing the Separation Letter not required) 

Separation Pay benefits are described in the Separation Plan SPD distributed with this Brochure. 
 This Brochure describes: 
  

	 	•	 	 the benefits offered under the Separation Program that are not described in the Separation Plan SPD; 

 

	 	•	 	 the benefits for those Rebadged Employees who do not sign the Separation Letter; and 

 

	 	•	 	 the terms and conditions of certain Merck benefit plans and programs as they apply to Rebadged Employees without regard to whether they sign the
Separation Letter. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

4 

 Retirement Plan 
 “Terminated Vested”—If You Are Not Pension Retirement Eligible or You Are Pension Bridge Eligible and You Do Not Sign the Separation Letter 

If you are not Pension Retirement Eligible or you are Pension Bridge Eligible and you do not sign the Separation Letter and you have at least 5 years of
Vesting Service (as that term is defined in the Retirement Plan), you will be a “terminated vested” participant in the Retirement Plan for all purposes and will stop accruing additional Credited Service (as that term is defined in the
Retirement Plan). This means that your employment will have terminated after you are vested and before you were eligible for early or normal retirement under the Retirement Plan (generally, at least age 55 with at least 10 years of Credited Service,
or at least age 65 without regard to years of service). If you are less than 65 and your employment terminates before you have at least 5 years of Vesting Service, you are not vested and have no entitlement under the Retirement Plan; you are not
considered “terminated vested.” 
 If you are a “terminated vested” participant, your benefits under the Retirement Plan
must begin no later than the first day of the month following age 65. However, you can begin to receive your lump sum or monthly benefit payment on the first day of any month after you reach age 55. Your lump sum or monthly benefit payment
will be reduced to reflect early payment of your benefits. The early payment reduction for a “terminated vested” participant is an “actuarial” reduction. That is, your life expectancy and certain other actuarial assumptions are
used in calculating the reduction amount for each year prior to age 65 that the benefits begin. You should expect this to reduce your lump sum or monthly payments substantially because by commencing your benefit early, you receive benefits earlier
and for a longer period. A table illustrating examples of actuarial reductions from the age 65 benefit and a more detailed explanation of the benefits for “terminated vested” participants can be found in the SPD (and applicable summaries
of material modification) for the Retirement Plan. 
 “Retired”—If You Are Pension Retirement Eligible—Whether or not You
Sign the Separation Letter 
 If you are Pension Retirement Eligible you are eligible to retire under the terms of the Retirement Plan. You
will be considered to have retired from active service for Retirement Plan purposes on your Separation Date (even if the Separation Date is not the first day of a month). Your benefit from the Retirement Plan will be based on the Credited Service
accrued as of your Separation Date and will be payable on the first day of the month following age 65 (or, if you are at least 65 on your Separation Date, on the first day of the month following your Separation Date). However, you can begin to
receive your lump sum or monthly benefit payment on the first day of any month after you reach age 55. If you commence 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

5 

 
your lump sum or monthly benefit payment at or after age 55 but before age 62, the benefit will be reduced. This reduction reflects that payments are made earlier and for a longer period of time.
The reduction for “retirees” is 0.25% for each month (i.e., 3% for each year that benefit payments begin before age 62). The reduction is much less than the actuarial reduction that applies to “terminated vested” participants.
You will not receive the Rule of 85 Transition Benefit unless (i) you are eligible for that benefit under the Retirement Plan on your Separation Date , or (ii) you otherwise qualify for the benefit under the Separation Program as described
below. 
 Death if You Are Pension Retirement Eligible. If you die after your Separation Date but before you begin to receive your
benefits from the Retirement Plan, your spouse (or estate in the case of any unmarried participant) will receive an annuity or a lump sum. The lump sum, according to the plan factors in effect as they change from time to time, is based on your age
65 accrued benefit, reduced .25% per month before age 62 that your death occurs. Then the benefit is calculated as though you had elected a joint and 100% survivor annuity with your spouse (if you’re unmarried, as though you had a spouse
the same age as you) on the day before you died. The lump sum is the actuarial equivalent of just the 100% survivor portion of the benefit—that is, taking into account your death. The annuity or lump sum is payable only after your spouse (or
administrator of your estate) applies for the benefit. 
 Separation Program—Pension Bridge—If You Are Pension Bridge Eligible And
You Sign the Separation Letter 
 For Retirement Plan purposes, if you are Pension Bridge Eligible and you sign the
Separation Letter you will be considered to have retired from active service with the Employer on your Separation Date and will be entitled to a pro-rata portion of your early retirement subsidies. For those who are not yet 55, you will be
considered to have a “deferred” pension on the terms described below. A “deferred” pension benefit is payable no earlier than the first of the month following the participant’s 55th birthday. 
 Early Retirement Subsidy. Your benefit from the Retirement Plan will be based on the Credited Service accrued as of the Separation Date and will be payable at age 65; however, you can begin to
receive your lump sum or monthly benefit payment on the first day of any month after you reach age 55. If you commence your lump sum or monthly benefit payment at or after age 55 but before age 62, the benefit will still be reduced. The amount of
the reduction is less than the actuarial reduction that applies to “terminated vested” participants and more than the reduction that applies to early retirees who are not Pension Bridge Eligible. 

The Retirement Plan provides that the benefits for early retirees are reduced by 0.25% for each month (i.e., 3% for each year) that they begin before age
62. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

6 

 
Bridged Employees receive a pro-rata portion (the “Pro-Rata Fraction”) of the enhancement provided by the early retirement subsidies. The Pro-Rata Fraction equals the percentage of the
employee’s Credited Service on his/her Separation Date divided by the Credited Service that employee would have had if employment had continued until he/she was first eligible to be treated as an early retiree. For purposes of this fraction,
Credited Service is limited to 35 years for both Credited Service at separation and the Credited Service had employment continued to his/her first day of eligibility for treatment as an early retiree. 

For example, assume an employee’s Separation Date occurs in 2012 and he is 50 years old with 10 years of Credited Service on his Separation Date. He
would have been first eligible to be treated as an early retiree when he attained age 55, when he would have had 15 years of Credited Service. The Pro-Rata Fraction in this example would be 10/15. 

To calculate the benefit that will be paid, the formula is 
  

	 	•	 	 Pro-Rata Fraction TIMES the participant’s accrued benefit as of the Separation Date payable with early retirement subsidies

  

	 	•	 	 PLUS (1 MINUS the Pro-Rata Fraction) TIMES the participant’s accrued benefit at Separation Date actuarially reduced for early commencement

 Here’s an example of how this formula will work. Assume an employee is 52 years old at separation with 23 years of
Credited Service. His earliest retirement age will be 55, at which time he would have had 26 years of Credited Service, so his Pro-Rata Fraction is 23/26, or 88.46%. Assume his accrued benefit—that is, the age 65 annuity payment paid every
month for the rest of his life—is $1,000. If he receives his pension at age 55, as an early retiree he would receive $790. As a terminated vested participant, he would receive $340. 
 Under the formula, he would receive $738.07 per month, beginning at age 55 calculated as follows: 
  

					
	 88.46% Times $790 =
	  	$	698.83	  
	 Plus
	  			
	 (1-88.46% = 11.54%) Times $340 =
	  	$	39.24	  
		  	  
	  
	 
	 Equals
	  			
	 Total:
	  	$	738.07	  

 The $738.07 monthly annuity value could be converted into any of the forms of benefit available under the Retirement
Plan. 
 Social Security Bridge Transition Benefit. If you are Pension Bridge Eligible you may be eligible for the Social Security Bridge
Transition Benefit under the Separation Program. The Social Security Bridge Transition Benefit is fully described in the SPD (and applicable summaries of material modification) for the Retirement Plan. In general, the Social Security Bridge
Transition Benefit reduces the offset for Social Security Benefits under the Retirement Plan by 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

7 

 
providing a temporary monthly supplement prior to age 62. The benefit was eliminated in July 1995 but was preserved for employees then at least age 50, with 90% preserved for employees then 49,
80% for employees then 48, etc. The benefit was not preserved for employees then 40 or younger. Because this benefit does not require any particular number of points, you may be eligible for the Social Security Transition Benefit even if you are not
eligible for the Rule of 85 Transition Benefit. 
 Death if you are Pension Bridge Eligible. If you die after you sign the Separation
Letter but before you begin to receive your benefits from the Retirement Plan, your spouse (or estate in the case of any unmarried participant) will receive an annuity or a lump sum. If you die before age 55, you will be eligible for the Social
Security Bridge Transition Benefit. If you were eligible for the Rule of 85 Transition Benefit on your Separation Date, you will not be eligible for this benefit if you die before you reach age 55. The Pro-Rata Fraction described above would be
applied as described above. The benefit is calculated as though you had elected a joint and 50% survivor annuity with your spouse (if you’re unmarried, as though you had a spouse the same age as you) on the day before you died. The lump sum is
the actuarial equivalent of just the 50% survivor portion of the benefit—that is, taking into account your death. The annuity or lump sum is payable only after your spouse (or administrator of your estate) applies for the benefit. If you are
Pension Bridge Eligible you will not be charged for the qualified pre-retirement spousal annuity fully described in the SPD (and applicable summaries of material modification) for the Retirement Plan. 

Official Plan Document. To the extent this section describes eligibility for the Pension Bridge, including the Social Security Bridge Transition
Benefit, it constitutes a summary of material modification to the SPD for the Retirement Plan and should be kept with that document. 

Separation Program—Rule of 85 Transition Benefit—If You Are Pension Retirement Eligible And You Sign the Separation Letter 

If you are Pension Retirement Eligible and you sign the Separation Letter and you do not qualify for the Rule of 85 Transition Benefit on your Separation
Date but would have qualified for the Rule of 85 Transition Benefit within two years of your Separation Date, the Rule of 85 Transition Benefit will be paid to you under special provisions under the Retirement Plan. The Rule of 85 Transition Benefit
will be payable upon commencement of your pension benefits, even if the date of commencement of pension benefits is earlier than the date you would otherwise have qualified for the Rule of 85 Transition Benefit. 

The Rule of 85 Transition Benefit is fully described in the SPD and applicable summaries of material modification for the Retirement Plan). In general,
the Rule of 85 was phased out in July of 1995. It had provided that an employee whose employment terminated after age 55, and whose age and service equaled at 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

8 

 
least 85, would be eligible for an unreduced age 65 benefit instead of the normal early retirement subsidy (i.e., a 3% per year reduction for every year the benefit begins prior to age 62).
The Rule of 85 Transition Benefit preserved 100% of the Rule of 85 for any employee who was 50 or older in July of 1995, with 90% preserved for then 49 year old employees, etc. No benefit was preserved for employees then 40 or younger. 

You are eligible for the Rule of 85 Transition Benefit under the Separation Program, if you would have reached the Rule of 85 Transition Benefit within
two years of your Separation Date. In other words, this enhancement applies if on your Separation Date the sum of your age and Credited Service is at least 81. 
 For example, assume an employee was born June 30, 1954. On July 1, 1995, this employee was 41, so 10% of her Rule of 85 Transition benefit was preserved. Assume further that her Separation Date
is January 1, 2012 and that she then has exactly 26 years of Credited Service. If her employment had continued, she would have been entitled to the Rule of 85 Transition Benefit as of October 1, 2012 (her age and service as of that date
would have equaled 85). Therefore, this employee would receive the Rule of 85 Transition Benefit (i.e., 10% of the Rule of 85 Transition Benefit) when her benefits from the Retirement Plan begin, because October 1, 2012, is less than two years
from her Separation Date of January 1, 2012. 
 On the other hand, assume instead that an employee’s age and Credited Service as of
his Separation Date add up to less than 81. He is not eligible for the Rule of 85 Transition Benefit under the Separation Program because he would not have been entitled to the Rule of 85 Transition Benefit within two years of his Separation Date.

 Official Plan Document. To the extent this section describes eligibility for the Rule of 85 Transition Benefit it constitutes a
summary of material modification to the SPD for the Retirement Plan and should be kept with that document. 
 Retirement Plan—Other
Information 
 Except as specifically described in this Brochure, unless you are Pension Retirement Eligible you will be treated as a
terminated vested participant for Retirement Plan purposes. For example, you may not receive a “disability retirement” as discussed in the SPD (and applicable summaries of material modification) for the Retirement Plan. 

The special provisions in the Retirement Plan regarding benefits available under the Separation Program to a Rebadged Employee who signs the Separation
Letter who are Pension Retirement Eligible or Pension Bridge Eligible are subject to certain discrimination tests under tax laws. Our actuaries have reviewed data on a preliminary basis and concluded that these special provisions satisfy those

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

9 

 
tests under most scenarios. However, if the provisions in practice happen to fail the tests, the benefits described here will be paid, to the extent necessary, from company assets outside the
Retirement Plan. Benefits from the Retirement Plan have tax advantages that payments outside it do not. You will be notified as soon as possible if this provision affects you. 
 After you leave the Employer, if you are entitled to a vested benefit from the Retirement Plan, you’ll receive a statement that will tell you what your life income will be at age 65. This will be
sent to you within approximately one year from your Separation Date. If any portion of your benefit is from a different plan, such as the Retirement Plan for Hourly Employees of MSD, there is an offset which reduces the benefit from the Retirement
Plan. The aggregate lump sum benefit payable from two different plans generally differs slightly from a lump sum payable from only one plan (especially if different interest rate methodologies apply). 

Payments not Compensation for Retirement Plan. Separation Pay is not compensation for Retirement Plan purposes. A bonus or the special payment, if
any, in lieu of an AIP/EIP bonus paid after your Separation Date is also not compensation for Retirement Plan purposes. 
 Split
Election. Employees whose pension benefits are payable in part from the Supplemental Retirement Plan who wish to make an election with respect to the retirement benefits under that plan should do so in accordance with that plan by contacting the
Support Center at 866-MERCK-HD (866-637-2543) to request the appropriate paperwork if eligible. 
 Medical (including Prescription Drug) and
Dental 
 COBRA—If You Are Not Retiree Healthcare Eligible or You Are Retiree Healthcare Bridge Eligible And You Do Not Sign the
Separation Letter 
 If you are not Retiree Healthcare Eligible or you are Retiree Healthcare Bridge Eligible and you don’t sign the
Separation Letter your medical and dental coverage options will continue until the end of the month in which your Separation Date occur. You will be eligible to elect to continue your coverage in accordance with COBRA for up to 18 months from the
first day of the month coincident with or following your Separation Date just like any other employee whose employment ends. If you have no medical and/or dental coverage under Merck’s plans on your Separation Date, you will not be eligible to
elect such coverage under COBRA. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

10 

 Retiree Healthcare—If You Are Retiree Healthcare Eligible; Separation Program—If You Are
Retiree Healthcare Bridge Eligible And You Sign the Separation Letter 
 If you are Retiree Healthcare Eligible or you are Retiree Healthcare
Bridge Eligible and you sign the Separation Letter your retiree healthcare benefits will begin on the first day of the month coincident with or following your Separation Date (the “Retiree Healthcare Commencement Date”). 

Retiree medical and dental eligibility provided under the Separation Program for those who are Retiree Healthcare Bridge Eligible is subject to the same
forfeiture provision described in the Separation Plan SPD. The forfeiture provision will apply for the period during which Separation Pay would have been paid had it been paid in installments in accordance with the Employer’s normal payroll
practices, however, if the forfeiture provision applies during that period and you are Retiree Healthcare Bridge Eligible, you will be permanently ineligible for retiree healthcare benefits. 
 Official Plan Document. To the extent this section describes eligibility for retiree healthcare for those who are Retiree Healthcare Bridge Eligible, it constitutes a summary of material
modification to the medical and dental sections of the Merck SPD for Legacy Merck Retirees and should be kept with that document. 
 Merck
Retiree Healthcare Benefits—in General 
 This section only applies to you if you are Retiree Healthcare Eligible or Retiree Healthcare
Bridge Eligible and you sign the Separation Letter. 
 You will be automatically enrolled in retiree medical and dental coverage as of your
Retiree Healthcare Commencement Date. If you do not have medical and/or dental coverage on the day before your Retiree Healthcare Commencement Date, you will be enrolled in the no coverage retiree option. If you have medical and/or dental coverage
on the day before your Retiree Healthcare Commencement Date, you will be enrolled in retiree dental and medical coverage under the same coverage option in which you were enrolled on the day before your Retiree Healthcare Commencement Date, provided
that coverage option is available to you as a retiree. If that coverage option is not available, you will be automatically enrolled in the plan’s default option. Coverage under your retiree medical and dental coverage will also automatically
continue for your eligible dependents who were enrolled under the applicable plans on the day before your Retiree Healthcare Commencement Date provided they are eligible for coverage. 
 You are permitted to add eligible dependents or drop covered dependents and/or change medical and/or dental coverage options retroactive to your Retiree Healthcare Commencement Date only if you notify the
Merck Benefits Service 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

11 

 
Center of such change(s) within 30 days after your Retiree Healthcare Commencement Date. Thereafter, any permitted changes will only be made prospectively during annual enrollment (for coverage
effective the following January 1) or mid-year if you experience a life event and you notify the Merck Benefits Service Center within 30 days of the event. 
 You can “opt-out” of retiree medical and/or dental coverage at any time, but note that your ability to re-enroll for coverage is generally limited to annual open enrollment (with the following
January 1 as the re-enrollment effective date); mid-year enrollment is available only if have a life event that permits you to enroll in coverage and you contact the Merck Benefit Service Center to re-enroll in Merck retiree coverage within 30
days of the date of the life event. 
 You must pay the applicable contributions for retiree healthcare coverage beginning on your Retiree
Healthcare Commencement Date. You will receive an invoice from Merck Benefits Service Center that indicates the contribution due for your retiree healthcare coverage. If you fail to pay the contribution required for retiree healthcare coverage in
the time and manner specified on the invoice, you will be deemed to have opted out of coverage and your ability to re-enroll is limited as described above. You may want to consider enrolling in the automatic payment option available the Merck
Benefits Service Center at Fidelity. Contact the Merck Benefits Service Center at Fidelity at 800-666-3725 for additional information. 
 For
purposes of determining the retiree medical contributions, if you are Retiree Healthcare Eligible or Retiree Healthcare Bridge Eligible you 
  

	 	•	 	 will have the number of points that is the sum of your age and years of adjusted service as recorded on the Employer’s records (from age 40 for
those subject to the “Rule of 88”; all adjusted service for those subject to the “Rule of 92”) as of your Separation Date; and 

  

	 	•	 	 will pay premiums for medical coverage in accordance with the premium schedule for the “Rule of 92” or the “Rule of 88”, as
applicable, in effect on your Retiree Healthcare Commencement Date, as the premium schedule may be amended from time to time. 

 To determine whether the “Rule of 92” or the “Rule of 88” applies to you and to see the contributions applicable to those schedules, see About Me on Sync. 

For retiree dental coverage you will pay a flat dollar contribution in accordance with the contribution schedule for retiree dental coverage in effect on
your Retiree Healthcare Commencement Date, as that contribution schedule may be amended from time to time. For the contribution schedule applicable to retiree dental coverage, see About Me on Sync. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

12 

 You cannot be covered as an active employee for medical and/or dental through COBRA and as a retiree (even
under the no coverage option) for Merck healthcare coverage during the same period. 
 Coordination with Medicare 

An individual is generally eligible for Medicare if he or she is at least age 65 or has been entitled to Social Security disability benefits for at least
24 months. If you or your dependents are eligible for Medicare on your Separation Date or become eligible for Medicare during the period for which you are covered under COBRA or if eligible as a retiree, the Merck medical plan under which you are
covered will coordinate with Medicare. That means that Medicare will be primary and the Merck medical plan will be secondary. You or your dependents, as applicable, must enroll in Medicare immediately when first eligible for Medicare. When
coordinating with Medicare, the Merck medical plans assume that you and your dependents are covered by Medicare as of the first date you or your dependents, as applicable, are eligible to be covered under Medicare—whether or not the individual
is actually covered. If you and your dependents do not enroll in Medicare when first eligible you will experience a gap in coverage and you may be obligated to pay a late enrollment penalty to Medicare for Medicare when you do enroll. For
information on eligibility for and enrollment in Medicare visit your local Social Security Administration office or contact the Social Security Administration online at www.ssa.gov or by phone at 800-772-1213. 

Life Insurance 
 Whether or not you sign
the Separation Letter, your accidental death and dismemberment coverage will end as of your Separation Date and your basic life insurance, optional group term life insurance and dependent life insurance will continue for 31 days after your
Separation Date. During this 31-day period you may elect to convert your basic life insurance and/or convert or port your optional group term life and/or dependent life coverage to an individual policy with Prudential, subject to certain
limitations. Contact the Merck Benefits Service Center (800-666-3725) or Prudential (877-370-4778) for more information. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

13 

 Health and Life Insurance Benefits Overview Chart 

The chart below is provided for your convenience to compare the medical and dental benefits offered under the Separation Program to the normal plan
provisions. It assumes you are eligible for medical and dental continuation under COBRA, that you sign the Separation Letter and that you timely pay the required contributions to continue coverage. 

 

					
	 	  	 Regular Plan Provisions
	  	 Separation Program

	 Medical (including

Prescription Drug) and

Dental,
	  	Benefits continue to the end of the month in which your Separation Date occurs; eligible for COBRA afterward for up to 18 months at full COBRA rate	  	 If not Retiree Healthcare Eligible or Retiree Healthcare Bridge Eligible—regular plan provisions apply.

 
 If Retiree Healthcare Eligible or Retiree Healthcare Bridge Eligible—begin
participation in retiree medical and dental benefits on the first of the month coincident with or following Separation Date w/applicable retiree contributions

		
	 Basic Life Insurance,

Optional Employee
 Group Term Life
and
 Dependent Life
	  	 Coverage continues for 31 days after Separation Date.

 
 You may be eligible to convert basic life insurance or convert or port optional
life and/or dependent life insurance to an individual policy with Prudential during the 31-day period.

		
	AD&D	  	No coverage

 Stock Options, Restricted Stock Units and Performance Stock Units 

Only employees may receive incentives under Merck’s incentive stock plans, including stock options, restricted stock units (“RSUs”) or
performance stock units (“PSUs”); therefore, you will not be eligible to receive any grants after your Separation Date. 

“Separated” or “Involuntarily Terminated” for Purposes of Stock Options, RSUs and PSUs—If You Are Not Pension Retirement
Eligible or You Are Pension Bridge Eligible and You Do Not Sign the Separation Letter 
 Under Merck’s incentive stock plans, stock
options, RSUs and PSUs held by a U.S. employee whose employment ends are treated under the provisions of the grants applicable to retirement only if the employee is considered a retiree under the Retirement Plan. If you are not Pension Retirement
Eligible or you are Pension Bridge Eligible and you do not sign the Separation Letter you are not considered a retiree under the Retirement Plan. Therefore, the separation provisions (not the retirement provisions) applicable to stock options, RSUs
and 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

14 

 
PSUs will apply to any outstanding incentives granted to you prior to 2010 that you hold on your Separation Date and the involuntary termination provisions (not the retirement provisions)
applicable to stock options, RSUs and PSUs will apply to any outstanding incentives granted to you in 2010 and thereafter that you hold on your Separation Date. Provisions may differ based on the grants. IT IS YOUR RESPONSIBILITY TO FAMILIARIZE
YOURSELF WITH THE TERMS OF INDIVIDUAL GRANTS. 
 Stock Options (separation/involuntary termination terms) 

Generally, for outstanding annual and quarterly stock option grants made in 2001 through 2009, the separation terms are: 

Unvested options will vest on the Separation Date. You will then have two years to exercise them and previously vested grants. All
outstanding vested options—including those previously vested—will expire on the day before the second anniversary of your Separation Date (or their original expiration date, if earlier). 

Generally, for outstanding annual and quarterly stock option grants made in 2010 and thereafter the involuntary termination terms are: 

Options that are unvested on your Separation date will expire on your Separation Date. Options that are exercisable on your Separation
Date will expire on the day before the first anniversary of your Separation Date (or their original expiration date, if earlier). 
 Key
R&D, MRL and MMD new hire stock option grants, and other stock option grants may have different terms. See the term sheets applicable to such stock option grants. 
 If on your Separation Date your then outstanding equity is treated as described above and you are rehired, 
  

	 	•	 	 stock options granted before 2010 that are unexercised and outstanding on your rehire date will be reinstated to active status as if your employment
had not been interrupted, and 

  

	 	•	 	 stock options granted during 2010 and thereafter that are unexercised and outstanding on your rehire date will continue to be treated as described
above. 

 RSUs (separation/involuntary termination terms) 
 For RSUs granted before January 1, 2010, under the separation terms a pro rata portion of your annual grants of restricted stock units, if any, generally will vest and become distributable at the
same time as if your employment had continued; the remainder of the grant will expire on your Separation Date. Different terms 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

15 

 
may apply to RSUs that were not granted as part of the annual RSU grants. See the term sheets applicable to RSUs granted to you, if any. 
 For each annual and quarterly RSU grant made on or after January 1, 2010, under the involuntary termination terms if your Separation Date occurs 

 

	 	•	 	 On or after the first anniversary of the RSU grant date, a pro rata portion of your RSU grant generally will vest and become distributable to you
(together with any applicable accrued dividend equivalents) at the same time as if your employment had continued; the remainder of the grant will expire on your Separation Date; or 

 

	 	•	 	 before the first anniversary of the RSU grant date, the entire grant (together with any applicable accrued dividend equivalents) will expire on your
Separation Date. 

 See the term sheets applicable to RSUs granted to you, if any. 

PSUs (separation/involuntary termination terms) 
 PSUs granted January 1, 2009 vested or lapsed effective December 31, 2011. Payment, if any, will be made to you in accordance with the terms of the grant. See the term sheets applicable to PSUs
granted to you, if any. 
 For each PSU granted on or after January 1, 2010, under the involuntary termination terms if your Separation
Date occurs 
  

	 	•	 	 on or after the first anniversary of the PSU grant date, a pro rata portion of your PSU grant generally will vest and become distributable to you at
the same time as if your employment had continued and based on actual performance; the remainder of the grant will expire on your Separation Date; or 

  

	 	•	 	 before the first anniversary of the PSU grant date, the entire grant will expire on your Separation Date. 

See the term sheets applicable to PSUs granted to you, if any. 
 If you have any question about your stock options, restricted stock units or performance stock units, you can call The Support Center at 866-MERCK-HD (866-637-2543). 

“Retired” for Purposes of Stock Options, RSUs and PSUs—If You Are Pension Retirement Eligible; Separation Program—If You Are
Pension Bridge Eligible And You Sign the Separation Letter 
 Under Merck’s incentive stock plans, stock options, RSUs and PSUs held by
a U.S. employee whose employment ends are treated under the provisions of the grants applicable to retirement only if the employee is considered a retiree under the Retirement Plan. If you are Pension Retirement Eligible or you are Pension Bridge
Eligible and you sign the Separation Letter you are considered a retiree 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

16 

 
under the Retirement Plan. Therefore, the retirement provisions (not the separation provisions or the involuntary termination provisions) applicable to stock options, RSUs and PSUs will apply to
any outstanding incentive you hold on your Separation Date. The retirement provisions may differ based on the grants. IT IS YOUR RESPONSIBILITY TO FAMILIARIZE YOURSELF WITH THE TERMS OF INDIVIDUAL GRANTS. 

Stock Options (retirement terms) 

Generally, for outstanding annual and quarterly stock option grants made in 2001 through 2009, the retirement provisions are: 

Unvested options will vest on the original vesting date and then be exercisable for the full term of the option, expiring on the original
expiration date. Vested options will be exercisable for the remaining term of the option, expiring on the original expiration date. 

Generally, for outstanding annual and quarterly stock option grants made in 2010 and thereafter, the retirement provisions are: 

 

	 	•	 	 Unvested Options: 

  

	 	•	 	 If your Separation Date occurs before the 6-month anniversary of the option grant date, the options expire on your Separation Date; or

  

	 	•	 	 If your Separation Date occurs on or after the 6-month anniversary of the option grant date, unvested options will become exercisable on their original
vesting date and remain exercisable until they expire on the day before the fifth anniversary of the grant date (or their original expiration date, if earlier). 

 

	 	•	 	 Vested Options: Options that are vested on your Separation Date will be exercisable until they expire on the day before the fifth anniversary of the
grant date (or their original expiration date, if earlier). 

 Key R&D, MRL and MMD new hire stock option grants, and
other stock option grants may have different terms. See the term sheets applicable to such stock option grants. 
 If you are treated as
retired, and later rehired, stock options that are unexercised and outstanding on your rehire date will continue under the retirement terms. 

RSUs (retirement terms) 
 Under the
retirement terms, any annual grants of restricted stock units that were granted at least 6 months prior to your Separation Date, if any, generally will vest and become distributable (together with any applicable accrued dividend

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

17 

 
equivalents for grants made in 2010 and thereafter) as if your employment with the Employer had continued. RSUs granted within 6 months of your Separation Date will be forfeited (together with
any applicable accrued dividend equivalents for grants made in 2010 and thereafter). See the term sheets applicable to RSUs granted to you, if any. 
 PSUs (retirement terms) 
 Under the retirement terms, a pro rata portion of any annual grant
of performance share units that were granted to you at least 6 months prior to your Separation Date will be payable if at all when the distribution with respect to the applicable performance year is made to active employees; the remainder of the
grant will expire on your Separation Date. Performance share units, if any, granted to you within 6 months of your Separation Date will lapse on your Separation Date. See the term sheets applicable to PSUs granted to you, if any. 

If you have any question about your stock options, RSUs or PSUs, call the Support Center at 866-MERCK-HD (866-637-2543). 

Annual Incentive Program/Executive Incentive Program (“AIP/EIP”)— 
 As described in more detail below, payment of bonuses, or a special payment in lieu of a bonus, depends on when your Separation Date occurs during a performance year and for a special payment in lieu of a
bonus, whether or not you sign the Separation Letter. 
  

	 	•	 	 For the performance year prior to Separation Date: Provided you are in a class of employees eligible for an AIP/EIP and your employment
ends between January 1 and the time AIP/EIP bonuses are paid for that year to other employees, you will be eligible for an actual AIP/EIP bonus with respect to the performance year immediately preceding your Separation Date on the same terms
and conditions as those that apply to other employees. That bonus, if any, will be paid at the time AIP/EIP bonuses are paid for that year to other employees (not later than March 15) or will be deferred in accordance with your applicable
deferral election for that performance year. Eligibility for consideration for your prior performance year AIP/EIP bonus is not contingent upon your signing the Separation Letter. 

 

	 	•	 	 For the performance year in which Separation Date occurs: 

 

	 	•	 	 If you are not Pension Retirement Eligible: If you are not Pension Retirement Eligible and your Separation Date occurs between January 1 and
June 30, inclusive, no AIP/EIP or special payment in lieu of a bonus with respect to the performance year in which your Separation Date occurs is payable to you. If your Separation Date is on or after July 1 and on or before
December 31 and you sign the Separation Letter, a special payment in lieu of a bonus is payable 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

18 

	 	 
to you under this program with respect to the performance year in which your Separation Date. See below 

 

	 	•	 	 If you are Pension Retirement Eligible: If you are Pension Retirement Eligible and you do not sign the Separation Letter a pro-rated actual AIP/EIP
bonus with respect to the performance year in which your Separation Date occurs may be paid to you at the time AIP/EIP bonuses are paid for that performance year to other employees. If you are Pension Retirement Eligible and you sign the Separation
Letter, a special payment in lieu of an actual AIP/EIP bonus for the performance year in which your Separation Date occurs is payable under this program. 

 

	 	•	 	 For executives who are listed in the Summary Compensation Table for the most recent proxy materials issued by Merck in connection with the annual
meeting of shareholders, the amount of payment in lieu of EIP award, if any, will be guided by the principles contained in this section, but Merck retains complete discretion to pay more, or less, than those amounts. 

 

	 	•	 	 The Employer reserves the right to treat the payment of AIP/EIP bonuses and/or the special payments in lieu of AIP/EIP bonuses as supplemental wages
subject to flat-rate withholding (that is, not taking into account any exemptions). 

  

	 	•	 	 No 401(k) deductions are made from any special payment in lieu of an AIP/EIP. 

If You Are Not Pension Retirement Eligible And Your Separation Date Occurs Between January 1 and June 30 

If you are not Pension Retirement Eligible and your Separation Date occurs on or after January 1 and on or before June 30, you will not be
eligible for consideration for an actual AIP/EIP bonus or the special payment in lieu of bonus payment described below for the performance year in which your Separation Date occurs whether or not you sign the Separation Letter. 

Separation Program—If You Are Not Pension Retirement Eligible and Your Separation Date Occurs On or After July 1 and On or Before
December 31 or You Are Pension Retirement Eligible And, In Either Case You Sign the Separation Letter 
 If you are not Pension
Retirement Eligible and your Separation Date occurs on or after July 1 and on or before December 31 or if you are Pension Retirement Eligible, a special payment in lieu of an AIP/EIP with respect to the performance year in which your
Separation Date occurs may be paid only if you sign the Separation Letter. The special payment, if any, will be calculated based on the target bonus applicable to you under the AIP/EIP on your Separation Date (subject to the following sentence) with
respect to the current performance year and the number of full and partial months you worked in the current performance 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

19 

 
year and is subject to downward adjustment by Merck in its sole discretion based on a variety of factors, including but not limited to your documented poor performance in the current performance
year. If your Separation Date occurs on or after the effective date of your assigned band, pathway and level under the new Compensation and Career Framework communication but before January 1, 2013, your target bonus will be the greater of the
target applicable to your assigned position in the Compensation and Career Framework job structure on your Separation Date or your band/tier level immediately preceding the conversion to the new structure. If you receive a special payment in lieu of
an AIP/EIP bonus, it will be paid to you (less applicable withholding) as soon as administratively feasible following your Separation Date (but not later than March 15 of the year following your Separation Date) and Merck’s receipt of your
signed Separation Letter. However, if you elected to defer all or part of your AIP/EIP bonus, that election will apply to payments made in lieu of AIP/EIP bonus. 
 If You Are Pension Retirement Eligible and You Do Not Sign the Separation Letter 
 If you
are Pension Retirement Eligible and you do not sign the Separation Letter you will be eligible for consideration for an AIP/EIP bonus with respect to the performance year in which your Separation Date occurs on the same terms and conditions as other
employees of the Employer who retired during the performance year. Provided you are in a class of employees eligible for an AIP/EIP, your AIP/EIP bonus, if any, will be paid to you at the same time AIP/EIP bonuses are paid to other employees or will
be deferred in accordance with your applicable deferral election for that AIP/EIP performance year, as applicable. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

20 

 * * * 
 OTHER BENEFITS AND PROGRAMS 
 The following describes the terms and conditions of certain
Merck benefit plans and programs as they apply to employees whose employment with the Employer terminates for any reason. For additional information, see the applicable SPDs and applicable summaries of material modification. 

Business Travel Accident 
 Your coverage
under the Business Travel Accident Insurance Plan ends on your Separation Date. 
 Dependent Care Flexible Spending Account 

Your participation in the Dependent Care Flexible Spending Account ends on your Separation Date. Eligible expenses incurred throughout
the calendar year in which your Separation Date occurs (even after employment with the Employer ends) can be reimbursed but only up to the amount actually contributed to the account. Claims for those expenses must be submitted to Horizon Blue Cross
Blue Shield by April 15th of the year following the
year in which your Separation Date occurs. Amounts remaining in the account after all eligible expenses have been paid will be forfeited. 

Group Auto & Homeowners Insurance 
 If you participate in the MetLife Group Auto & Homeowners Insurance on your Separation Date, your payroll deduction (and the applicable discount) will end on that date and you will be moved to
direct bill with MetLife. If you have any questions, please contact MetLife at 800-438-6388. 
 Group Legal Plan 

If you participate in the Group Legal Plan on your Separation Date, your coverage will end on that date. You may continue coverage on an individual basis
for 30 months after your Separation Date. If you elect to continue coverage, you must pre-pay for the coverage for 30 months. Contact Hyatt Legal for details at 800-821-6400. 
 Health and Insurance Benefits 
 Merck’s health and insurance benefits consist of the
following Merck plans and programs: medical (including prescription drugs), dental, vision, health care and dependent care flexible spending accounts, life insurance (including basic and 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

21 

 
optional term life, dependent term life and accidental death and dismemberment), long term care and long term disability. Your participation in these plans ends as described elsewhere in this
communication. However, a full month of contribution/premium for your coverage under these plans in effect on your Separation Date may be deducted from your paycheck for the month in which your Separation Date occurs. 

Health Care Flexible Spending Account 

Your participation in the Health Care Flexible Spending Account (“HCFSA”) ends on your Separation Date, unless you elect to continue to
participate in accordance with COBRA for the remainder of the calendar year in which your Separation Date occurs. If you elect to continue participation in HCFSA under COBRA, you must make your required contributions on an after-tax basis. Eligible
expenses incurred while you participate in HCFSA during the calendar year in which your Separation Date occurs can be reimbursed up to your entire elected amount. Claims incurred after your participation in HCFSA ends cannot be reimbursed, no matter
how much money is left in the account. Claims for expenses incurred during the calendar year in which your Separation Date occurs and while you are a participant in HCFSA must be submitted to Horizon Blue Cross Blue Shield by April 15 of the
year following the year in which your Separation Date occurs. Amounts remaining in the account after all eligible expenses have been paid will be forfeited. 
 Long Term Care 
 If you elected coverage under Merck’s Long Term Care Plan for you (or
your spouse or same-sex domestic partner), that coverage will end on your Separation Date. However, you may continue coverage without interruption by contacting CNA (the insurer) and paying your first quarterly premium to CNA within 31 days after
the last day of the month in which your Separation Date occurs. For more information (and to request the necessary forms) contact CNA directly at 800-528-4582. 
 Long Term Disability 
 Your participation in the Long Term Disability Plan (“LTD
Plan”) will end on the last day of the month in which your Separation Date occurs. In other words, you must have satisfied the 26-week LTD Plan eligibility period by the end of the month that includes your Separation Date to be eligible for LTD
Plan benefits. If you are disabled and receiving income replacement benefits under the LTD Plan on your Separation Date, those benefits will continue in accordance with the terms of the LTD Plan. However, Separation Pay paid by the Employer under
the Separation Benefits Plan will be offset from benefits payable under the LTD Plan (meaning the LTD Plan benefits will be reduced by Separation Pay). 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

22 

 Merck Deferral Program 
 If you have an account balance in the Merck & Co., Inc. Deferral Program, your termination of employment will commence distribution of your account in accordance with your previously elected
schedule, subject to applicable plan terms. For example, account balances less than $125,000 are distributed without giving effect to the participant’s election, while distributions to certain of Merck’s most highly paid employees on
account of termination of employment cannot be made for six months from the termination date. 
 If you elected to defer all or part of your
EIP/AIP distribution and receive a payment in lieu thereof as a result of your separation, your deferral election to the Merck Deferral Program will apply to your payment in lieu of your EIP/AIP. 

Sales Incentive Plan 
 If you are a
participant in a sales incentive plan of Merck or its subsidiaries, including the Employer, on your Separation Date, your eligibility to be paid a bonus, if any, will be determined under the terms and conditions of the plan in which you are a
participant. 
 Savings Plan 

Any Separation Pay you receive under the Separation Benefits Plan is not base pay and may not be contributed to the Savings Plan. A bonus or the special
payment, if any, in lieu of an AIP/EIP bonus is also not compensation for purposes of the Savings Plan. 
 If you have an outstanding Savings
Plan loan balance as of your Separation Date, you will have 60 days to repay the balance. If the loan is not repaid within 60 days, the outstanding loan balance will be considered to be in default and will be treated as a partial distribution
subject to taxation and a possible 10% early withdrawal penalty. Please consult your tax advisor. 
 You generally may receive a final
distribution from the Savings Plan at any time after your Separation Date. However, if the value of your Savings Plan account is less than $1,000 upon your Separation Date, you automatically will receive a distribution of your account balance
following your Separation Date. If your account balance is between $1,000 and $5,000 upon your Separation Date, and you do not elect a lump sum distribution or a rollover, your account will be rolled over into an Individual Retirement Account (IRA)
at Fidelity. If, upon reaching age 65, you have not previously elected to receive your benefits, your account balance will be distributed to you without regard to its amount. Review the information in the SPD (and applicable summaries of material
modification) for the Savings Plan for additional information on receiving a final distribution under the Savings Plan. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

23 

 Short Term Disability 
 Subject to applicable state law, your participation in the Short Term Disability Plan (“STD Plan”) ends on your Separation Date. If you are disabled and are receiving income replacement benefits
under the STD Plan on your Separation Date, those benefits will continue in accordance with the terms of the plan. However, subject to state law, Separation Pay paid by the Employer under the Separation Benefits Plan will act as an offset from
benefits payable under the STD Plan (meaning the STD Plan benefits will be reduced by the Separation Pay). Where state law does not permit such offsets to be made to STD Plan benefits (or where the Employer in its sole and absolute discretion
determines it is easier for the Employer to administer), STD Plan benefits will instead act as an offset from Separation Pay paid (or payable) by the Employer under the Separation Benefits Plan (meaning Separation Pay will be reduced by the STD Plan
benefits). The amount of the offset will be established by the Employer and will be a good faith estimate of the STD Plan benefits payable to the employee after the employee’s Separation Date. 

Vacation Pay/Floating Holidays 
 If you
accept the Negotiated Job Offer (as defined in the Separation Benefits Plan) and the outsource vendor agrees to honor the vacation you have accrued but not used as of your Separation Date, you will not be paid for your accrued unused vacation,
unless otherwise required by state law. If you do not accept the Negotiated Job Offer or the outsource vendor does not agree to honor the vacation you have accrued but not used as of your Separation Date, you will be paid for any amount of vacation
that you have accrued but not used as of your Separation Date. Conversely, you must reimburse the Employer for any vacation you used prior to your Separation Date that you had not earned as of your Separation Date. Any such amounts to be reimbursed
may be deducted from any Separation Pay paid pursuant to the Separation Benefits Plan. You will not be paid for unused vacation days carried over from the calendar year prior to your Separation Date or for floating holidays that are unused as of
your Separation Date, unless payment is required under state law. 
 Vision 
 Coverage under the Vision Plan ends on the last day of the month in which your Separation Date occurs. You will be given the opportunity to continue this benefit in accordance with COBRA for up to 18
months from your Separation Date by paying the required premiums. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

24 

 * * * 
 OTHER IMPORTANT INFORMATION 
 Parent (or its applicable subsidiary) retains the right (to
the extent permitted by law) to amend or terminate the Separation Benefits Plan and any other benefit or plan described in this brochure (or otherwise) at any time and nothing in this Brochure in any way limits that right. However, following a
“change in control” of Merck (as defined in the Merck & Co., Inc. Change in Control Separation Benefits Plan, as it may be amended from time to time), certain limitations apply to the ability of Parent (or its applicable
subsidiary) to amend or terminate its benefit plans. In addition, a Legacy Merck Employee whose employment is terminated without cause within two years following a “change in control” who satisfies certain age and service requirements on
the date his or her employment ends, may also be entitled to receive the retirement pension and/or healthcare bridge as provided in the Merck & Co., Inc. Change in Control Separation Benefits Plan. 

Notwithstanding anything in the Separation Program to the contrary, benefits under the Separation Program that are subject to Section 409A of the
Internal Revenue Code of 1986, as amended, will be adjusted to avoid the excise tax under Section 409A. Parent or Employer will take any and all steps it determines are necessary, in its sole and absolute discretion, to adjust benefits under
the Separation Program to avoid the excise tax under Section 409A, including but not limited to, reducing or eliminating benefits, changing the time or form of payment of benefits, etc. 

Payments made on account of separation from service are limited during the six months following the termination of employment of a “Specified
Employee” as defined in Treas. Reg. Sec. 1.409A-1(i) or any successor thereto, which in general includes the top 50 employees of a company ranked by compensation. Notwithstanding anything contained in the Separation Program to the contrary, if
a Covered Employee is a “Specified Employee” on his or her Separation Date, to the extent required by Section 409A of the Internal Revenue Code of 1986, as amended, no payments will be made during the six-month period following
termination of employment. Instead, amounts that would otherwise have been paid during that six-month period will be accumulated and paid, without interest, as soon as administratively feasible following the end of such six-month period after
termination of employment. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

25 

 Glossary of Definitions 
 As used in this document, the following terms have the following meanings. 
 “Credited
Service” is as defined in the Retirement Plan. 
 “Employer” means individually and collectively, Merck Sharp & Dohme
Corp., and its direct and indirect wholly owned subsidiaries excluding Comsort, Inc. and Telerx Marketing, Inc. The term “Employer” excludes each Legacy Schering Entity (as defined in the Separation Benefits Plan) and Inspire
Pharmaceuticals, Inc. 
 “Legacy Merck Employee” is as defined in the Separation Benefits Plan. 

“Parent” means Merck & Co., Inc. 
 “Pension Bridge” means the pro-rata portion of certain early retirement subsidies under the Retirement Plan, including the Social Security Bridge Transition Benefit and treatment as a retiree
under the Retirement Plan 
 “Pension Bridge Eligible” means that as of your Separation Date you are a Legacy Merck Employee who is a
Rebadged Employee and your Separation Date is: 
 (1) on or after January 1, 2012 but before January 1, 2013 and as of your Separation
Date, you are 
  

	 	•	 	 at least age 49 and have at least 9 years of Credited Service; or 

 

	 	•	 	 at least age 64 years and have less than 9 years of Credited Service; and 

 

	 	•	 	 on your Separation Date, you are not Pension Retirement Eligible; or 

 (2) on or after January 1, 2013 and as of December 31 of the year in which your Separation Date occurs, you are 
  

	 	•	 	 at least age 50 and have at least 10 years of Credited Service; or 

 

	 	•	 	 at least age 64 and have less than 10 years of Credited Service; and 

 

	 	•	 	 on your Separation Date, you are not Pension Retirement Eligible. 

 “Pension Retirement Eligible” means that as of your Separation Date you are a Legacy Merck Employee and as of that date you are at least age 55 with at least 10 years of Credited Service or you
are at least age 65. 
 “Rebadged Employee” is as defined in the Separation Benefits Plan. 

“Retiree Healthcare Bridge Eligible” means that as of your Separation Date you are a Legacy Merck Employee who is a Rebadged Employee who is
not Retiree Healthcare Eligible and (i) if your Separation Date occurs in 2012 you are at least age 49 with at least 9 years of Credited Service on your Separation Date, or (ii) if 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

26 

 
your Separation Date occurs in 2013 you are at least age 50 with at least 10 years of Credited Service as of December 31 of the year in which your Separation Date occurs, or (iii) if
your Separation Date occurs in 2014 you are at least age 51 with at least 10 years of Credited Service as of December 31 of the year in which your Separation Date occurs, or (iv) if your Separation Date occurs in 2015 or thereafter you are
at least age 52 with at least 10 years of Credited Service as of December 31 of the year in which your Separation Date occurs. 

“Retiree Healthcare Eligible” means that as of your Separation Date you are a Legacy Merck Employee who is at least age 55 and you have at
least 10 “Years of Service” as that term is defined in the Merck SPD for Legacy Merck Retirees. 
 “Retiree Healthcare
Commencement Date” means the date your retiree healthcare benefits begin as described in this Brochure. 
 “Retirement Plan”
means the Retirement Plan for Salaried Employees of MSD 
 “Separation Benefits Plan” means the Merck & Co., Inc. US
Separation Benefits Plan. 
 “Separation Date” means a Rebadged Employee’s last day of employment with the Employer. 

“Separation Letter” means the letter provided by Parent or the employer that that includes a “Release of Claims” (as defined in the
Separation Benefits Plan). 
 “Separation Letter Return Date” is the date stated in the Separation Letter (or as extended by the
Employer at its sole discretion) by which Rebadged Employees must sign and return it to Parent or Employer. 
 “Separation Pay” is as
defined in the Separation Benefits Plan and applicable to Rebadged Employees. 
 “Separation Plan SPD” means the SPD for the
Merck & Co., Inc. US Separation Benefits Plan. 
 “Separation Program” means the (i) Separation Pay applicable to
Rebadged Employees under the Separation Benefits Plan, (ii) provisions described in this Brochure applicable to (A) eligibility for retiree healthcare benefits for those who are Retiree Healthcare Bridge Eligible, (B) eligibility for
the Pension Bridge for those who are Pension Bridge Eligible, (C) eligibility for the Rule of 85 Transition Benefit under the Retirement Plan for those who are Pension Retirement Eligible but not eligible for the benefit on their Separation
Dates or Pension Bridge Eligible and, in each case, who would have attained it within two years of their Separation Dates (D) treatment under Merck’s options, RSUs and PSUs (i) as retired for those who are Pension Bridge Eligible,
(ii) as retired for those who are 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

27 

 
Pension Retirement Eligible, and (iii) as separated/involuntarily terminated, and (E) payment in lieu of AIP/EIP. A signed Separation Letter is not required for the benefits described
in clause (ii)(D)(ii) or (iii). 
 “SPDs” means summary plan descriptions of various employee benefit plans sponsored by
Merck & Co., Inc. or one of its wholly owned subsidiaries. 

  
 LMRK Rebadged Employees

 Effective as of January 1, 2012 

Revised as of December 12, 2011 

28

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]