Document:

Exhibit 10.48

 

VIRGIN
MEDIA INC.

909 Third
Avenue

New York,
New York 10022

 

 

 

December 21,
2007

 

 

Mr. Edwin
M. Banks

c/o
Virgin Media Inc.

909
Third Avenue

New
York, New York 10022

 

 

Dear
Mr. Banks:

 

As
we have discussed, we are pleased to confirm our agreement with respect to the
adjustment of the exercise price of 125,000 options held by you to acquire
Virgin Media Inc. (the “Company”) common stock. 
The options in question are those that: (a) arose from the grant to
you on May 7, 2003 of options to acquire common stock of the Company’s
predecessor company, NTL Incorporated; and (b) had not vested on or prior
to December 31, 2004 (the “Stub 2003 Options”).  The purpose of this adjustment is in order
that the Stub 2003 Options will not be treated as deferred compensation for
purposes of Section 409A of the Internal Revenue Code, which was adopted
after the options were granted.

 

We
hereby agree with you as follows:

 

1.               The exercise price of the
Stub 2003 Options is increased, with immediate effect, from $6.00 to $7.82 per
share, which was the market price of the Company’s common stock on the date of
issuance.

 

2.               As compensation for the loss in value to you
as a result of the adjustment provided for in paragraph 1, the Company shall
issue to you, on March 2, 2008 (unless the Company and you mutually agree
another date which shall be prior to January 1, 2009), shares of the
Company’s common stock with a market value, based on the mid-market price on
the date of issuance, of $227,500.  You
agree that, except with the Company’s consent or in the context of a merger,
tender offer or other business combination transaction approved by the Board of
Directors, you will not offer, sell, or otherwise dispose of these shares or
any rights therein (other than an ordinary course pledge to secure borrowings
or in respect of any shares that may be sold to pay the U.S. tax incurred on
the issuance of these shares) for a period of six months from the date of
issuance.

 

This
letter is governed by and construed in accordance with the laws of the State of
New York without giving effect to its conflicts of law principles.

 

 

 

Please
sign the enclosed copy of this letter agreement to confirm your agreement to
the foregoing.

 

 

 

	
   

  	
   

  	
   

  	
  Sincerely,

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  VIRGIN MEDIA INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Bryan H. Hall

  
	
   

  	
   

  	
  Name:

  	
  Bryan H Hall

  
	
   

  	
   

  	
  Title:

  	
  Secretary and General Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  AGREED & ACCEPTED:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Edwin M. Banks

  
	
   

  	
   

  	
   

  	
  Edwin M. BanksExhibit 10.49

 

VIRGIN
MEDIA INC.

909 Third
Avenue

New York,
New York 10022

 

 

December 21,
2007

 

 

Mr. Charles
K. Gallagher

c/o
Virgin Media Inc.

909
Third Avenue

New
York, New York 10022

 

 

Dear
Mr. Gallagher:

 

As
we have discussed, we are pleased to confirm our agreement with respect to the
adjustment of the exercise price of 125,000 options held by you to acquire
Virgin Media Inc. (the “Company”) common stock. 
The options in question are those that: (a) arose from the grant to
you on August 5, 2003 of options to acquire common stock of the Company’s
predecessor company, NTL Incorporated; and (b) had not vested on or prior
to December 31, 2004 (the “Stub 2003 Options”).  The purpose of this adjustment is in order
that the Stub 2003 Options will not be treated as deferred compensation for
purposes of Section 409A of the Internal Revenue Code, which was adopted
after the options were granted.

 

We
hereby agree with you as follows:

 

1.               The exercise price of the
Stub 2003 Options is increased, with immediate effect, from $16.00 to $17.532
per share, which was the market price of the Company’s common stock on the date
of issuance.

 

2.               As compensation for the loss in value to you
as a result of the adjustment provided for in paragraph 1, the Company shall
issue to you, on  or about March 2,
2008 (unless the Company and you mutually agree another date which shall be
prior to January 1, 2009), shares of the Company’s common stock with a
market value, based on the mid-market price on the date of issuance, of
$191,500.  You agree that, except with
the Company’s consent or in the context of a merger, tender offer or other
business combination transaction approved by the Board of Directors, you will
not offer, sell, or otherwise dispose of these shares or any rights therein
(other than an ordinary course pledge to secure borrowings or in respect of any
shares that may be sold to pay the U.S. tax incurred on the issuance of these
shares) for a period of six months from the date of issuance.

 

 

This
letter is governed by and construed in accordance with the laws of the State of
New York without giving effect to its conflicts of law principles.

 

 

 

Please
sign the enclosed copy of this letter agreement to confirm your agreement to
the foregoing.

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  VIRGIN MEDIA INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
      

  	
  By:

  	
  /s/ Bryan H. Hall

  
	
   

  	
  Name:

  	
  Bryan H Hall

  
	
   

  	
  Title:

  	
  Secretary and General Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
        

  	
  AGREED & ACCEPTED:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles K. Gallagher

  
	
   

  	
   

  	
  Charles K. Gallagher

  

 

2Exhibit 10.19

 

Schedule of Agreements with Executive Officers

 

The
Company has entered into change-in-control agreements with the executive
officers listed below.  Each agreement is
substantially identical in all material respects to the form agreement and
amendments thereto, set forth in Exhibits 10.16, 10.17 and 10.18 to this 10-K
report.

 

Joseph E. Abbott

 

Michael A. Anderson

 

Steven A. Ellers

 

William
J. Federici

 

John R. Gailey III

 

Robert S. Hargesheimer

 

Richard D. Luzzi

 

Donald A. McMillanExhibit 10.20

 

	
  

  

 

CHANGE-IN-CONTROL AGREEMENT

 

THIS IS A CHANGE-IN-CONTROL
AGREEMENT (the “Agreement”), dated as of February 12, 2008 (the “Effective
Date”), between West Pharmaceutical, Services, Inc., a Pennsylvania
corporation, (the “Company”) and Donald A. McMillan
(“Executive”).

 

Background

 

The Board of Directors of the Company and the
Compensation Committee of the Board have determined that it is in the best
interests of the Company and its shareholders for the Company to make the
following arrangements with Executive. 
These arrangements provide for compensation in the event Executive
should leave the employment of the Company under the circumstances described in
this Agreement.

 

Agreement

 

In
consideration of Executive’s assuming the position of President, North America,
and the mutual covenants and agreements herein, and intending to be legally
bound, the Company and Executive agree as follows:

 

1.                                       Definitions.  As used in this Agreement, the following
terms will have the meanings set forth below:

 

(a)                                  An “Affiliate” of any
Person means any Person directly or indirectly controlling, controlled by or
under common control with such Person.

 

(b)                                 “Change in Control”
means a change in control of a nature that would be required to be reported in
response to Item 1 of a Current Report on Form 8-K as in effect on the
date of this Agreement pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended, (the “Act”), provided,
that, without limitation, a Change in Control shall be deemed to have occurred
if:

 

(i)                                     Any Person, other than:

 

(1)                                  the Company,

 

(2)                                  any Person who on the date
hereof is a director or officer of the Company, or

 

(3)                                  a trustee or fiduciary
holding securities under an employee benefit plan of the Company,

 

 

is or becomes the “beneficial
owner,” (as defined in Rule 13-d3 under the Act), directly or indirectly,
of securities of the Company representing more than 50% of the combined voting
power of the Company’s then outstanding securities; or

 

(ii)                                  During any period of two
consecutive years during the term of this Agreement, individuals who at the
beginning of such period constitute the Board of Directors of the Company cease
for any reason to constitute at least a majority thereof, unless the election
of each director who was not a director at the beginning of such period has
been approved in advance by directors representing at least two-thirds of the
directors then in office who were directors at the beginning of the period; or

 

(iii)                               The shareholders of the
Company approve: (A) a plan of complete liquidation of the Company; or (B) an
agreement for the sale or disposition of all or substantially all of the
Company’s assets; or (C) a merger, consolidation, or reorganization of the
Company with or involving any other corporation, other than a merger,
consolidation, or reorganization (collectively, a “Transaction”), that
would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity), at least 50% of the
combined voting power of the voting securities of the Company (or the surviving
entity, or an entity which as a result of the Transaction owns the Company or
all or substantially all of the Company’s assets either directly or through one
or more subsidiaries) outstanding immediately after the Transaction.

 

(c)                                  “Code” means the
Internal Revenue Code of 1986, as amended.

 

(d)                                 The “Company’s Business”
means: (i) the manufacture and sale of stoppers, closures, containers,
medical-device components and assemblies made from elastomers, metal and
plastic for the health-care and consumer-products industries, and (ii) any
other business conducted by the Company or any of its Subsidiaries or
Affiliates during the term of this Agreement and in which Executive has have
been actively involved.

 

(e)                                  “Constructive Termination”
means the occurrence of any of the following events:

 

(i)                                     The Company requires
Executive to assume any duties inconsistent with, or the Company makes a
significant diminution or reduction in the nature or scope of Executive’s
authority or duties from, those assigned to or held by Executive on the
Effective Date;

 

(ii)                                  A material reduction in
Executive’s annual salary or incentive compensation opportunities;

 

2

 

(iii)                               A relocation of Executive’s
site of employment to a location more than 50 miles from Executive’s site of
employment on the Effective Date;

 

(iv)                              The Company fails to provide
Executive with substantially the same fringe benefits that were provided to
Executive as of the Effective Date, or with a package of fringe benefits that,
although one or more of such benefits may vary from those in effect as of the
Effective Date, is substantially at least as beneficial to Executive in all
material respects as such fringe benefits taken as a whole; or

 

(v)                                 A successor of the Company
does not assume the Company’s obligations under this Agreement, expressly or as
a matter of law.

 

Notwithstanding
the foregoing, no Constructive Termination will be deemed to have occurred
under any of the following circumstances:

 

(1)                                  Executive will have
consented in writing or given a written waiver to the occurrence of any of the
events enumerated in clauses (i) through (v) above;

 

(2)                                  Executive will have failed
to give the Company written notice stating Executive’s intention to claim
Constructive Termination and the basis for that claim at least 10 days in
advance of the effective date of Executive’s resignation; or

 

(3)                                  The event constituting a
Constructive Termination has been cured by the Company prior to the effective
date of Executive’s resignation.

 

(f)                                    “Payment”
means

 

(i)                                     any amount due
or paid to Executive under this Agreement,

 

(ii)                                  any amount that is due or
paid to Executive under any plan, program or arrangement of the Company and any
of its Subsidiaries, and

 

(iii)                               any amount or benefit that
is due or payable to Executive under this Agreement or under any plan, program
or arrangement of the Company and any of its Subsidiaries not otherwise covered
under clause (i) or (ii) hereof which must reasonably be taken into
account under section 280G of the Code and the Regulations in determining the
amount of the “parachute payments” received by Executive, including, without
limitation, any amounts which  must be
taken into account under the Code and Regulations as a result of (1)  the
acceleration of the vesting of any option, restricted stock or other equity
award granted under any equity plan of the Company or otherwise, (2) the
acceleration of the time at which any payment or benefit is receivable by
Executive or (3) any 

 

3

 

contingent
severance or other amounts that are payable to Executive.

 

(g)                                 “Person”
means an individual, a corporation, a partnership, an association, a trust or
other entity or organization.

 

(h)                                 “Regulations”
means the proposed, temporary and final regulations under section 280G of Code
or any successor provision thereto.

 

(i)                                     “Restrictive Period”
means the period of time that commences on the Effective Date hereof and ends
on the first anniversary of the Termination Date.

 

(j)                                     “Retirement Plan”
means the West Pharmaceutical Services, Inc. Employees’ Retirement Plan
and any successor plan thereto.

 

(k)                                  “Savings/Deferred Comp
Plan” means The Company’s 401(k) Plan, The Company’s Non-Qualified
Deferred Compensation Plan for Designated Employees and any successor plan or other
similar plan established from time to time that may allow executive officers to
defer taxation of compensation.

 

(l)                                     “Subsidiary” has the
meaning ascribed to the term by section 425(f) of the Code.

 

(m)                               “Termination Date” is
the date on which Executive ceases to be employed by the Company or any of its
Subsidiaries or Affiliates for any reason.

 

2.                                       Termination
Following a Change in Control.

 

(a)                                  Executive will be entitled
to the benefits specified in Section 3 (Benefits
Payable Upon Termination of Employment) if,

 

(i)                                     at any time within two years
after a Change in Control has occurred, Executive’s employment by the Company
is terminated:

 

(1)                                  by the Company, other than
by reason of death, disability, continuous willful misconduct to the detriment
of the Company, or retirement at Executive’s normal retirement date under the
Retirement Plan, or

 

(2)                                  as a result of Executive’s
resignation at any time following Executive’s Constructive Termination; or

 

(ii)                                  Executive resigns for any
reason within 30 days following the first anniversary of a Change in Control.

 

Except
as otherwise set forth in Section 2(b), Executive will not be entitled to
the benefits specified in Section 3 hereof if Executive’s employment
terminates for any other reason or if, at any time thereafter, 

 

4

 

Executive
is in breach of any of Executive’s obligations under this Agreement.

 

(b)                                 If the Company executes an
agreement, the consummation of which would result in the occurrence of a Change
in Control, then, with respect to a termination

 

(i)                                     by the Company, other than
by reason of death, disability, continuous willful misconduct to the detriment
of the Company, or retirement at Executive’s normal retirement date under the
Retirement Plan, or

 

(ii)                                  as a result of Executive’s
resignation at any time following Executive’s Constructive Termination
occurring after the date of such agreement (and, if such agreement expires or
is terminated prior to consummation, prior to the expiration or termination of
such agreement),

 

a Change in Control shall be
deemed to have occurred as of the date of the execution of such agreement and
Executive will be entitled to the severance compensation specified in Section 3
hereof.

 

3.                                       Benefits
Payable Upon Termination of Employment.  Upon termination of employment as set forth
in Section 2 (Termination Following a Change in Control),
Executive will be entitled to the following benefits:

 

(a)                                  Severance Compensation.  Executive will be entitled to severance
compensation in an amount equal to three times the sum of

 

(i)                               Executive’s highest annual
base salary rate in effect during the year of the termination of Executive’s
employment, plus

 

(ii)                            the aggregate amount of the
annual bonuses paid or payable to     Executive for the three fiscal years immediately
preceding a                                        Change in Control
divided by the number of fiscal years as to          which such bonuses were paid or payable;

 

provided, however, that if at any time before the third
anniversary of the Termination Date, Executive either (x) elects
retirement under the Retirement Plan, or (y) reaches normal retirement age
under the Retirement Plan if Executive had remained employed by the Company,
Executive’s severance compensation under this Section 3(a) will be
reduced by an amount equal to the product obtained by multiplying such severance
compensation by a fraction the numerator of which is the number of days elapsed
from the Termination Date until the date on which either of the events
described in clauses (x) or (y) first occurs, and the denominator of
which is 1095.

 

The
severance compensation paid hereunder will not be reduced to the extent of any
other compensation for Executive’s services that Executive 

 

5

 

receives
or is entitled to receive from any other employment consistent with the terms
of this Agreement.

 

(b)                                 Equivalent of Vested
Savings/Deferred Comp Plan Benefit. The Company will pay to
Executive the difference, if any, between

 

(i)                                     the benefit Executive would
be entitled to receive under the Savings/Deferred Comp Plan if the Company’s
contributions to the Savings/Deferred Comp Plan were fully vested upon the
termination of Executive’s employment, and

 

(ii)                                  the benefit Executive is
entitled to receive under the terms of the Savings/Deferred Comp Plan upon
termination of Executive’s employment.

 

Any
such benefit will be payable at such time and in such manner as benefits are
payable to Executive under the Savings/Deferred Comp Plan.

 

(c)                                  Unvested Equity Awards.  All stock options, other equity-based awards
and shares of the Company’s stock granted or awarded to Executive pursuant to
any Company compensation or benefit plan or arrangement, but which are
unvested, will vest immediately upon termination of Executive’s employment. The
provisions of this Section 3(c) will supersede the terms of any such
grant or award made to Executive under any such plan or arrangement to the
extent there is an inconsistency between the two.

 

(d)                                 Employee and
Executive Benefits.  Executive will
be entitled to a continuation of all hospital, major medical, medical, dental,
life and other insurance benefits not otherwise addressed in this Agreement in
the same manner and amount to which Executive was entitled on the date of a
Change in Control or on the date of Constructive Termination of Executive’s
employment (whichever benefits are more favorable to Executive) until the
earlier of

 

(i)                                     a period of 36
months after termination of Executive’s employment,

 

(ii)                                  Executive’s retirement under
the Retirement Plan, or

 

(iii)                               Executive’s eligibility for
similar benefits with a new employer.

 

Assistance
in finding new employment will be made available to Executive by the Company if
Executive so requests. Upon termination of Executive’s employment, Company cars
must be returned to the Company.

 

6

 

4.                                       Additional
Payments.

 

(a)                                  Gross-Up Payment.  Notwithstanding anything herein to the
contrary, if it is determined that any Payment would be subject to the excise
tax imposed by section 4999 of the Code or any interest or penalties with
respect to such excise tax (such excise tax, together with any interest or
penalties thereon, is herein referred to as an “Excise Tax”), then
Executive shall be entitled to an additional payment (a “Gross-Up Payment”)
in an amount that will place Executive in the same after-tax economic position
that Executive would have enjoyed if the Excise Tax had not applied to the
Payment.

 

(b)                                 Determination of Gross-Up
Payment.  Subject to the provisions of Section 4(c),
all determinations required under this Section 4, including whether a
Gross-Up Payment is required, the amount of the Payments constituting excess parachute
payments, and the amount of the Gross-Up Payment, shall be made by the
accounting firm that was the Company’s independent auditors immediately prior
to the Change in Control (or, in default thereof, an accounting firm mutually
agreed upon by the Company and Executive) (the “Accounting Firm”), which
shall provide detailed supporting calculations both to Executive and the
Company within fifteen days of the Change in Control, the Termination Date or
any other date reasonably requested by Executive or the Company on which a
determination under this Section 4 is necessary or advisable.  If the Accounting Firm determines that no
Excise Tax is payable by Executive, the Company shall cause the Accounting Firm
to provide Executive with an opinion that the Accounting Firm has substantial
authority under the Code and Regulations not to report an Excise Tax on
Executive’s federal income tax return. 
Any determination by the Accounting Firm shall be binding upon Executive
and the Company.  If the initial Gross-Up
Payment is insufficient to cover the amount of the Excise Tax that is
ultimately determined to be owing by Executive with respect to any Payment
(hereinafter an “Underpayment”), the Company, after exhausting its
remedies under Section 4(c) below, shall pay to Executive an
additional Gross-Up Payment in respect of the Underpayment.

 

(c)                                  Timing of Payment.  The Company shall pay to Executive the initial
Gross-Up Payment or any required Underpayment (i) if the Executive is a “specified
employee” within the meaning of Section 409A of the Code, on the later of (A) the
date that is at least six months after the date of the Executive’s termination
of employment or (B) the fifth business day following the receipt by
Executive and the Company of the Accounting Firm’s determination, or (ii) if
the Executive is not a “specified employee” within the meaning of Section 409A
the fifth business day following the receipt by Executive and the Company of
the Accounting Firm’s determination. 
Notwithstanding anything herein to the contrary, any Gross-Up Payment or
Underpayment must be paid on or before the end of the Executive’s taxable year
following the taxable year in which the applicable Excise Tax is payable.

 

(d)                                 Procedures.  Executive shall notify the Company in writing
of any claim by the Internal Revenue Service that, if successful, would require
the payment by the Company of a Gross-Up Payment.  Such notice shall be 

 

7

 

given
as soon as practicable after Executive knows of such claim and shall apprise
the Company of the nature of the claim and the date on which the claim is
requested to be paid.  Executive agrees
not to pay the claim until the expiration of the thirty-day period following
the date on which Executive notifies the Company, or such shorter period ending
on the date the Taxes with respect to such claim are due (the “Notice Period”).  If the Company notifies Executive in writing
prior to the expiration of the Notice Period that it desires to contest the
claim, Executive shall:  (i) give
the Company any information reasonably requested by the Company relating to the
claim; (ii) take such action in connection with the claim as the Company
may reasonably request, including, without limitation, accepting legal
representation with respect to such claim by an attorney reasonably selected by
the Company and reasonably acceptable to Executive; (iii) cooperate with
the Company in good faith in contesting the claim; and (iv) permit the
Company to participate in any proceedings relating to the claim.  Executive shall permit the Company to control
all proceedings related to the claim and, at its option, permit the Company to
pursue or forgo any and all administrative appeals, proceedings, hearings, and
conferences with the taxing authority in respect of such claim.  If requested by the Company, Executive agrees
either to pay the tax claimed and sue for a refund or contest the claim in any
permissible manner and to prosecute such contest to a determination  before any administrative tribunal, in a
court of initial jurisdiction and in one or more appellate courts as the
Company shall determine; provided, however, that, if the Company directs Executive to pay such
claim and pursue a refund, the Company shall advance the amount of such payment
to Executive on an after-tax and interest-free basis (the “Advance”).  The Company’s control of the contest related
to the claim shall be limited to the issues related to the Gross-Up Payment and
Executive shall be entitled to settle or contest, as the case may be, any other
issues raised by the Internal Revenue Service or other taxing authority.  If the Company does not notify Executive in
writing prior to the end of the Notice Period of its desire to contest the
claim, the Company shall pay to Executive an additional Gross-Up Payment in
respect of the excess parachute payments that are the subject of the claim, and
Executive agrees to pay the amount of the Excise Tax that is the subject of the
claim to the applicable taxing authority in accordance with applicable law.  The Advance, any additional Gross-Up Payments
and the reimbursement of any related costs, expenses or taxes payable under
this Section 4(d) and/or Section 4(f) shall be made on or
before the end of the Executive’s taxable year following the taxable year in
which any additional taxes are payable by the Executive or if no additional
taxes are payable the Executive’s taxable year following the taxable year in
which the audit or litigation is closed.

 

(e)                                  Repayments.  If, after receipt by Executive of an Advance,
Executive becomes entitled to a refund with respect to the claim to which such
Advance relates, Executive shall pay the Company the amount of the refund
(together with any interest paid or credited thereon after Taxes applicable
thereto).  If, after receipt by Executive
of an Advance, a determination is made that Executive shall not be entitled to
any refund 

 

8

 

with
respect to the claim and the Company does not promptly notify Executive of its
intent to contest the denial of refund, then the amount of the Advance shall
not be required to be repaid by Executive and the amount thereof shall offset
the amount of the additional Gross-Up Payment then owing to Executive.

 

(f)                                    Further Assurances.  The Company shall indemnify Executive and
hold Executive harmless, on an after-tax basis, from any costs, expenses,
penalties, fines, interest or other liabilities (“Losses”) incurred by
Executive with respect to the exercise by the Company of any of its rights
under this Section 4, including, without limitation, any Losses related to
the Company’s decision to contest a claim or any imputed income to Executive
resulting from any Advance or action taken on Executive’s behalf by the Company
hereunder.  Subject to the last sentence
of Section 4(d), the Company shall pay all legal fees and expenses
incurred under this Section 4 and shall promptly reimburse Executive, or
cause the Trust to reimburse Executive, for the reasonable expenses incurred by
Executive in connection with any actions taken by the Company or required to be
taken by Executive hereunder.  The
Company shall also pay all of the fees and expenses of the Accounting Firm,
including, without limitation, the fees and expenses related to the opinion
referred to in Section 4(b).

 

5.                                       Payment
of Severance Compensation.

 

The
severance compensation set forth in Section 3 (a) will be payable in
36 equal monthly installments commencing on the first day of the month
following the month in which Executive’s employment terminates.  Notwithstanding the foregoing, in the event
that the Executive is a “specified employee” within the meaning of Code section
409A, the first six monthly installments shall be paid in a lump sum on the
first day of the month following or coincident with the date that is six months
following the Executive’s termination of employment and all remaining monthly
installments shall be paid monthly.

 

6.                                       Non-Disclosure
and Confidentiality.

 

(a)                                   Executive agrees that
Executive will keep secret and maintain in confidence all confidential
information of the Company and will not use such information other than for the
Company’s benefit or disclose such information to anyone outside of the
Company, either during or after Executive’s employment with the Company.

 

(b)                                  Executive will promptly
deliver to the Company on the termination of Executive’s employment with the
Company, or at any time the Company requests, all memoranda, notes, records and
other documents (and all copies thereof) relating to the Company’s business or
confidential matters which Executive then has or controls.

 

(c)                                   All inventions,
improvements, new ideas and techniques which relate to the Company’s business
which Executive makes or conceives during Executive’s employment with the
Company or within six months 

 

9

 

thereafter
will be the Company’s property. Without additional compensation to Executive,
Executive will promptly inform the Company of such inventions, improvements,
ideas and techniques, and will assist the Company in preserving them and will
not disclose them to anyone else without the Company’s consent.

 

(d)                                  Executive understands that,
as used in this Section, the phrase “confidential information of the Company”
includes all information of a technical, commercial or other nature of or about
the Company (such as formulae, trade secrets, customer lists and know-how) not
made available to the general public.

 

7.                                       Legal
Fees.  The Company
will pay all legal fees and expenses which Executive may incur as a result of
the Company’s contesting the validity or enforceability of this Agreement.

 

8.                                       Payments
Final.  In the
event of a termination of Executive’s employment under the circumstances
described in this Agreement, the arrangements provided for by this Agreement,
and any other agreement between the Company and Executive in effect at that
time and by any other applicable plan of the Company in which Executive then
participates, will constitute the entire obligation of the Company to
Executive, and performance of that obligation will constitute full settlement
of any claim that Executive might otherwise assert against the Company on
account of such termination. The Company’s obligation to pay Executive under
this Agreement will be absolute and unconditional and will not be affected by
any circumstance, including without limitation, any set-off, counterclaim,
defense or other rights the Company may have against Executive or anyone else
as long as Executive is not in beach of Executive’s obligations under this
Agreement.

 

9.                                       Non-Competition.

 

(a)                                  During the Restrictive
Period, Executive will not, and will not permit any of Executive’s Affiliates,
or any other Person, directly or indirectly, to:

 

(b)                                 engage in competition with,
or acquire a direct or indirect interest or an option to acquire such an
interest in any Person engaged in competition with, the Company’s Business in
the United States (other than an interest of not more than 5 percent of the
outstanding stock of any publicly traded company);

 

(i)                                     serve as a director,
officer, employee or consultant of, or furnish information to, or otherwise
facilitate the efforts of, any Person engaged in competition with the Company’s
Business in the United States;

 

(ii)                                  solicit, employ, interfere
with or attempt to entice away from the Company any employee who has been
employed by the Company or a Subsidiary in an executive or supervisory capacity
in connection with the conduct of the Company’s Business within 

 

10

 

one
year prior to such solicitation, employment, interference or enticement; or

 

(iii)                               approach, solicit or deal
with in competition with the Company or any Subsidiary any Person which at any
time during the 12 months immediately preceding the Termination Date:

 

(1)                                  was a customer, client,
supplier, agent or distributor of the Company or any Subsidiary;

 

(2)                                  was a customer, client,
supplier, agent or distributor of the Company or any Subsidiary with whom
employees reporting to or under the direct control of Executive had personal
contact on behalf of the Company or any Subsidiary; or

 

(3)                                  was a Person with whom
Executive had regular, substantial or a series of business dealings on behalf
of the Company or any Subsidiary (whether or not a customer, client, supplier,
agent or distributor of the Company or any Subsidiary).

 

(c)                                  For the avoidance of doubt,
Executive agrees that the phrase “Person engaged in competition with the
Company’s Business” as used in this Section includes, without limitation,
the companies listed on Exhibit “A” to this Agreement, their Affiliates
and subsidiaries.

 

10.                                 Vesting
in the Event of a Change in Control.  In the event of a Change in Control, all
stock options, equity-based awards and shares of the Company’s stock granted or
awarded to Executive pursuant to any Company compensation or benefit plan or
arrangement, but which are unvested at that time, will vest immediately upon
such Change in Control.  The provisions
of this Section 10 will supersede the terms of any such grant or award
made to Executive under any such plan or arrangement to the extent there is an
inconsistency between the two.

 

11.                                 Duration of Agreement.  This Agreement shall commence on the
Effective Date and shall continue until terminated as provided in this Section.
This Agreement may be terminated only under the following circumstances:

 

(i)                                     At any time by the mutual
written consent of Executive and the Company; and

 

(ii)                                  By the Company at the end of
each successive two-year periods commencing on the date of this Agreement by
giving Executive written notice at least one year in advance of such
termination, except that such termination and written notice will not be
effective unless Executive will be employed by the Company on the Termination
Date.

 

11

 

12.                                 Miscellaneous.

 

(a)                                  In consideration for the
benefit of having the protection afforded by this Agreement, Executive agrees
that the provisions of Section 6 (Non-Disclosure
and Confidentiality) and Section 9 (Non-Competition) of this
Agreement apply to Executive, and Executive will be bound by them, whether or
not a Change in Control occurs or Executive actually receives the benefits
specified in Section 3 hereof.

 

(b)                                 This Agreement will not be
binding upon and inure to the benefit of Executive, Executive’s personal
representatives and heirs and the Company and any successor of the Company, but
neither this Agreement nor any rights arising hereunder may be assigned or
pledged by Executive.

 

(c)                                  Executive acknowledges that
a breach of the covenants contained in Section 6 (Non-Disclosure
and Confidentiality) and Section 9 (Non-Competition)
will cause the Company immediate and irreparable harm for which the Company’s
remedies at law (such as money damages) will be inadequate. The Company shall
have the right, in addition to any other rights it may have, to obtain an
injunction to restrain any breach or threatened breach of such Sections. The
Company may contact any Person with or for whom Executive works after Executive’s
employment by the Company ends and may send that Person a copy of this
Agreement.

 

(d)                                 Should any provision of this
Agreement be adjudged to any extent invalid by any competent tribunal, that
provision will be deemed modified to the extent necessary to make it
enforceable.

 

(e)                                  This Agreement will be
governed and construed in accordance with the laws of the Commonwealth of Pennsylvania.

 

(f)                                    This Agreement constitutes
the entire agreement and understanding between the Company and Executive with
respect to the subject matter hereof and merges and supersedes all prior
discussions, agreements and understandings between the Company and Executive
with respect to such matters.

 

(g)                                 This Agreement may be
executed in one or more counterparts, which together shall constitute a single
agreement.

 

12

 

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

 

 

	
   

  	
   

  	
  WEST
  PHARMACEUTICAL SERVICES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Donald A. McMillan

  	
   

  	
  By:

  	
  /s/ Richard D.
  Luzzi

  
	
  DONALD
  A. MCMILLAN

  	
   

  	
   

  	
  Richard
  D. Luzzi

  
	
   

  	
   

  	
   

  	
  Vice
  President, Human Resources

  

 

13

 

EXHIBIT A

 

Companies Engaged in Competition with the Company’s Pharma Systems and
Contract Lab  Business in the U.S.

 

Pharma Systems

Cardinal Health, Inc./ALARIS
Medical Systems

B.
Braun Medical Inc.

Baxa
Corporation

Baxter International Inc.

Becton,
Dickinson and Company (BD)

Bioject Medical Technologies
Inc.

Carmel
Pharma, Inc.

Catalent
Pharma Solutions, Inc.

CODAN US Corporation

Duoject Medical Systems Inc
(Canada Company)

Gerresheimer
Glass, Inc.

Halkey-Roberts Corporation

Helvoet
Pharma USA

Hospira, Inc.

ICU Medical, Inc.

Itran-Tompkins
Rubber Corporation

Kokoku Rubber, Inc.

Lexington Rubber Group, Inc.

Maptech

Medi-Dose, Inc./
EPS, Inc.

Nektar Therapeutics

The Plasticoid Company

Radius (A Nypro Company)

SCHOTT North America, Inc.

American
Stelmi Corporation (Stelmi)

 

Contract
Labs

AAI
Development Services

ABC
Laboratories, Inc.

Akron
Rubber Development Laboratory, Inc.

Becton,
Dickinson and Company (BD)

Bioscreen
Testing Services, Inc.

Bodycote
Materials Testing, Inc.

Cardinal
Health Pharmaceutical Development

Chemic
Laboratories, Inc

Chemir
Analytical Services

Ciba
Specialty Chemicals Corp.

Citech

Columbia
Analytical Services, Inc.

Cyanta Analytical Laboratories (subsidiary of Chemir)

Fisher Clinical Services (part of Thermo Fisher
Scientific, Inc)

Galbraith
Laboratories, Inc.

Irvine
Pharmaceutical Services, Inc.

Lancaster
Laboratories, Inc. (acquired by Fisher )

Metrics, Inc.

Microbac
Laboratories, Inc.

North
American Science Associates, Inc (NAMSA)

Nelson
Laboratories, Inc.

SGS
Northview Laboratories

Pharmalytica
Services, LLC

Polymer
Solutions Incorporated

PPD
Incorporated

QUALTIY
CONTROL LABORATORY (QC Lab)

Intertek/Quantitative
Technologies Inc (QTI)

RJ
Lee Group, Inc.

Sterigenics
International, Inc. (SteriPro Labs)

Toxikon
Corporation

Whitehouse
Analytical Laboratories, LLC

Synomics
Pharmaceutical Services LLC

 

14

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