Document:

Exhibit
10.1

AMENDMENT 2007-2

 

TO THE

 

CEPHALON, INC.

 

2004 EQUITY
COMPENSATION PLAN

 

 

WHEREAS,
Cephalon, Inc. (the “Company”) maintains the Cephalon, Inc. 2004 Equity
Compensation Plan (the “2004 Plan”) for the benefit of its eligible employees,
certain consultants and advisors who perform services for the Company, and
non-employee members of the Company’s Board of Directors (the “Board”);

WHEREAS,
pursuant to Section 12(a) of the 2004 Plan, the Board may amend the 2004 Plan
at any time;

WHEREAS,
pursuant to Section 141 of the Delaware General Corporation Law, the Board has
delegated its authority to amend or modify any of the Company’s existing equity
compensation plans, including the 2004 Plan, to the Stock Option and
Compensation Committee of the Board of Directors (the “Committee”), as more
fully described in Section III of the Committee’s charter; and

WHEREAS, the Committee desires to amend the 2004 Plan to
increase, up to an additional 1,000,000 shares, the aggregate number of shares
of Company common stock (“Company Stock”) authorized for issuance under the
2004 Plan, so that a total of 12,450,000 shares of Company Stock are authorized
for issuance under the 2004 Plan, and to provide that after May 16, 2007, no
more than 400,000 shares of Company Stock may be issued pursuant to stock
awards that are granted under the 2004 Plan after such date.

NOW, THEREFORE, in accordance with the foregoing, the 2004 Plan
shall be amended as follows:

1.             Effective
May 17, 2007, Section 3(a)(i) of the 2004 Plan shall be amended in its entirety
to read as follows, subject to the approval of the Company’s stockholders:

“(1)         Shares Authorized.  Subject to adjustment as described
below, the aggregate number of shares of common stock of the Company (“Company
Stock”) that may be issued or transferred under the Plan is 4,700,000 shares
and, (i) effective February 1, 2002, the aggregate number of shares of Company
Stock that may be issued or transferred under the Plan shall be increased by
1,200,000 shares so that the total number of shares of Company Stock authorized
for issuance or transfer under the Plan shall be 5,900,000 shares; provided,
however, that no more than 100,000 of these additional shares of Company Stock
shall be available for issuance as 

Stock Awards; (ii) effective February 6, 2003, the
aggregate number of shares of Company Stock that may be issued or transferred
under the Plan shall be increased by 2,500,000 shares so that the total number
of shares of Company Stock authorized for issuance or transfer under the Plan
shall be 8,400,000 shares; provided, however, that no more than 100,000 of
these additional shares of Company Stock shall be available for issuance as
Stock Awards; (iii) effective February 5, 2004, the aggregate number of shares
of Company Stock that may be issued or transferred under the Plan shall be
increased by 1,300,000 shares so that the total number of shares of Company
Stock authorized for issuance or transfer under the Plan shall be 9,700,000
shares; provided, however, that no more than 500,000 of these additional shares
of Company Stock shall be available for issuance as Stock Awards; (iv)
effective May 17, 2006, the aggregate number of shares of Company Stock that
may be issued or transferred under the Plan shall be increased by 1,750,000 shares
so that the total number of shares of Company Stock authorized for issuance or
transfer under the Plan shall be 11,450,000 shares; provided, however, that no
more than 600,000 of these additional shares of Company Stock shall be
available for issuance as Stock Awards; and (v) effective May 17, 2007, the
aggregate number of shares of Company Stock that may be issued or transferred
under the Plan shall be increased by 1,000,000 shares so that the total number
of shares of Company Stock authorized for issuance or transfer under the Plan
shall be 12,450,000 shares; provided, however, that after May 16, 2007, no more
than 400,000 shares of Company Stock may be issued pursuant to Stock Awards
that are granted under the Plan after such date.”

2.             As thus amended, the 2004 Plan is hereby ratified,
republished and reconfirmed and said 2004 Plan and this amendment thereto
hereby constitute the 2004 Plan.

IN
WITNESS WHEREOF,
and as evidence of the adoption of Amendment 2007-2 to the 2004 Plan as set
forth herein, the Committee has caused this Amendment 2007-2 to be executed
this 8th day of February 2007.

 

	
  

  	
  CEPHALON, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Carl A. Savini

  
	
   

  	
   

  	
  Carl A. Savini

  
	
   

  	
  Title:

  	
  Executive Vice President, Chief Administrative
  OfficerExhibit 4.1.3

THIRD SUPPLEMENTAL INDENTURE, dated as of May 14,
2007, to the Indenture dated as of April 29, 2004 (as amended and supplemented
to the date hereof, the “Indenture”), among Mueller Water Products, Inc., a
Delaware corporation (the “Company”) and Law Debenture Trust Company of New
York, as trustee (the “Trustee”).

W I T N E S S E T H:

WHEREAS, the Company and the Trustee have heretofore
entered into the Indenture, and the 143⁄4% Senior Discount Notes due 2014 (the “Notes”)
of the Company have been issued pursuant thereto;

WHEREAS, Section 9.02 of the Indenture provides that
the Company and the Trustee may, with the requisite consents of the holders,
enter into a supplemental indenture for the purpose of amending certain
provisions of the Indenture;

WHEREAS, the Company has offered to purchase for cash
any and all of the outstanding Notes upon the terms and subject to the
conditions set forth in the Offer to Purchase and Consent Solicitation
Statement, dated May 1, 2007 (as the same may be amended or supplemented from
time to time, the “Statement”), and in the related Consent and Letter of
Transmittal (as the same may be amended or supplemented from time to time, the “Consent
and Letter of Transmittal” and, together with the Statement, with respect to
the Notes, the “Offer”), from each Holder of such Notes;

WHEREAS, the Offer is conditioned upon, among other
things, certain amendments to the Indenture and to the Notes set forth in
Article Two, Article Three, Article Four and Article Five of this Supplemental
Indenture (the “Amendments”) having been approved by Holders of in excess of a
majority of the outstanding principal amount of the Notes and a supplemental
indenture in respect thereof having been executed and delivered;

WHEREAS, the Company has received and delivered to the
Trustee the consents from Holders of more than a two-thirds of the outstanding
aggregate principal amount of the Notes to effect the Amendments;

WHEREAS, the Company has been authorized by a
resolution of its Board of Directors to enter into this Supplemental Indenture;
and

WHEREAS, all other acts and proceedings required by
law, by the Indenture and by the charter documents of the Company to make this
Supplemental Indenture a valid and binding agreement for the purposes expressed
herein, in accordance with its terms, have been duly done and performed;

NOW, THEREFORE, in consideration of the premises and
the covenants and agreements contained herein, and for other good and valuable
consideration the receipt of which is hereby acknowledged, the Company and the
Trustee hereby agree as follows:

 

ARTICLE ONE

SECTION 1.01.                                      Definitions.

Capitalized terms used in this Supplemental Indenture
and not otherwise defined herein shall have the meanings assigned to such terms
in the Indenture.

ARTICLE TWO

SECTION 2.01.                                      Amendments
to Table of Contents

(a)           The
Table of Contents of the Indenture is amended by deleting the titles to Section
3.09 and Sections 4.03 through Section 4.15 and inserting in lieu thereof the
phrase “[intentionally omitted]”.

ARTICLE THREE

SECTION 3.01.                                      Elimination
of Certain Definitions in Article 1.

(a)           Section
1.01 of the Indenture is amended by deleting the definitions “Acquired
Indebtedness”; “Cash Equivalents”; “Consolidated Cash Flow”; “Consolidated Net
Income”; “Existing Indebtedness”; “Fixed Charges”; “Fixed Charge Coverage Ratio”;
“Investments”; “Net Income”; “Net Proceeds”; “Permitted Investments”; “Permitted
Liens”; “Permitted Refinancing Indebtedness”; “Restricted Investment” and “Weighted
Average Life to Maturity” contained therein in their entirety.

(b)           Section
1.02 of the Indenture is amended by deleting the definitions “Affiliate
Transaction”; “Permitted Indebtedness”; and “Restricted Payments” contained
therein in their entirety.

SECTION 3.02.                                      Elimination
of Certain Provisions in Article 3.

(a)           Section
3.09 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

SECTION 3.03.                                      Elimination
of Certain Provisions in Article 4

(a)           Section
4.03 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(b)           Section
4.04 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(c)           Section
4.05 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

 

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(d)           Section
4.06 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(e)           Section
4.07 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(f)            Section
4.08 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(g)           Section
4.09 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(h)           Section
4.10 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(i)            Section
4.11 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(j)            Section
4.12 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(k)           Section
4.13 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(l)            Section
4.14 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

(m)          Section
4.15 of the Indenture is amended by deleting the text of such Section in its
entirety and inserting in lieu thereof the phrase “[intentionally omitted]”.

SECTION 3.04.                                      Amendment
and Elimination of Certain Provisions in Article 5.

Section 5.01 of the Indenture is amended by:

(a)           deleting
the following proviso at the end of clause (1): “provided that if such Person
is a limited liability company or partnership, a corporate Wholly Owned
Restricted Subsidiary of such Person organized under the laws of the United
States, any state thereof or the District of Columbia becomes a co-issuer of
the Notes in connection therewith”;

(b)           deleting
the text of clauses (3) and (4) in their entirety and inserting in lieu thereof
the phrase “[intentionally omitted]”; and

(c)           replacing
references in Section 5.01 to “surviving corporation” with “surviving entity.”

 

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SECTION 3.05.                                      Elimination
of Certain Provisions in Article 6.

(a)           Section
6.01 of the Indenture is amended by:

(i)            deleting the text of clauses (3),
(4), (5) and (6) in their entirety and inserting in lieu thereof the phrase “[intentionally
omitted]”; and

(ii)           deleting all references to “Restricted
Subsidiaries that is a Significant Subsidiary” from clauses (7) and (8).

(b)           Section
6.02 of the Indenture is amended by:

(i)            deleting
all references to “Restricted Subsidiaries that is a Significant Subsidiary”
from the Section.

SECTION 3.06.                                      Elimination
of Certain Provisions in Article 8.

Section 8.04(a) of the Indenture is amended by
deleting the text of clauses (2) through (7) in their entirety and inserting in
lieu thereof the phrase “[intentionally omitted]”.

SECTION 3.07.                                      Amendment
of Certain Provisions in Article 10.

Section 10.01 of the Indenture is amended by deleting the second to
last clause of the Section relating to Officers’ Certificates and Opinions of
Counsel.

ARTICLE FOUR

SECTION 4.01.                                      Elimination
of Certain Provisions in the Note

The Notes are deemed to be amended as follows:

(a)           Section
4 of the Notes is amended by replacing “(the “Indenture”)” with “(as amended
from time to time, the “Indenture”)”.

(b)           Section
7 of the Notes is amended by retitling such Section “[Intentionally Omitted]”
and the text of such Section is deleted in its entirety.

(c)           Section
12 of the Notes is amended by deleting clauses (iii), (iv), (v) and (vi) in
their entirety and by deleting all references to “Restricted Subsidiaries that
is a Significant Subsidiary” from clause (vii).

ARTICLE FIVE

SECTION 5.01.                                      Effectiveness
of Amendments to Indenture.

This Supplemental Indenture will become effective
immediately upon its execution and delivery but the amendments in such
Supplemental Indenture set forth in Articles 

 

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Two through Five hereof will only become operative
immediately prior to the acceptance for payment of all Notes that are validly
tendered (and not withdrawn) on or prior to the Consent Payment Deadline (as
defined in the Statement).

SECTION 5.02.                                      Continuing
Effect of Indenture.

Except as expressly provided herein, all of the terms,
provisions and conditions of the Indenture and the Notes shall remain in full
force and effect.

SECTION 5.03.                                      Construction
of Supplemental Indenture.

This Supplemental Indenture is executed as and shall
constitute an indenture supplemental to the Indenture and shall be construed in
connection with and as part of the Indenture. 
THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE
THIS SUPPLEMENTAL INDENTURE.

SECTION 5.04.                                      Trust
Indenture Act Controls.

If any provision of this Supplemental Indenture
limits, qualifies or conflicts with another provision of this Supplemental Indenture
or the Indenture that is required to be included by the Trust Indenture Act of
1939 as in force at the date as of which this Supplemental Indenture is
executed, the provision required by said Act shall control.

SECTION 5.05.                                      Trustee
Disclaimer.

The recitals contained in this Supplemental Indenture
shall be taken as the statements of the Company, and the Trustee assumes no
responsibility for their correctness. 
The Trustee makes no representations as to the validity or sufficiency
of this Supplemental Indenture.

SECTION 5.06.                                      Counterparts.

This Supplemental Indenture may be executed in any
number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the
same instrument.

 

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IN WITNESS WHEREOF, the parties hereto have caused
this Supplemental Indenture to be duly executed, all as of the day and year
first above written.

 

	
  

  	
  MUELLER WATER PRODUCTS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Walter A. Smith

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Walter A. Smith

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  	
   

  	
   

  

 

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  LAW DEBENTURE TRUST COMPANY OF 

  
	
   

  	
  NEW YORK, as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Patrick J. Healy

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Patrick J. Healy

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President, Senior Trust Officer

  	
   

  	
   

  	
   

  
	
   

  	
   

  

 

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