Document:

9.30.2013 Exhibit 10.35

EXHIBIT 10.35

THIRD AMENDMENT
Dated as of October 15, 2013
to
TRANSFER AND ADMINISTRATION AGREEMENT
Dated as of August 31, 2012

This THIRD AMENDMENT (this “Amendment”) dated as of October 15, 2013 is entered into among ASHLAND INC., a Kentucky corporation (“Ashland”), CVG CAPITAL III LLC, a Delaware limited liability company (“SPV”), the Investors, Letter of Credit Issuers, Managing Agents and Administrators party hereto, and THE BANK OF NOVA SCOTIA, as Agent for the Investors.
RECITALS
WHEREAS, the parties hereto have entered into a certain Transfer and Administration Agreement dated as of August 31, 2012 (as amended, supplemented or otherwise modified from time to time, the “TAA”);
WHEREAS, Market Street Funding LLC (“Market Street”), as a Conduit Investor, an Uncommitted Investor and the assignor (in such capacity, the “Assignor”), desires to sell, assign and delegate to PNC Bank, National Association (“PNC”), as the assignee (in such capacity, the “Assignee”), all of the Assignor’s rights under, interest in, title to and obligations under the TAA and the other Transaction Documents (collectively, the “Assigned Documents”), and the Assignee desires to purchase and assume from the Assignor all of the Assignor’s rights under, interest in, title to and obligations under the Assigned Documents;
WHEREAS, after giving effect to the assignment and assumption contemplated in Section 2 of this Amendment, each of the parties hereto desires that Market Street cease to be a party to the TAA and each of the other Assigned Documents to which it is a party and to be discharged from its duties and obligations as a Conduit Investor, Uncommitted Investor and otherwise under the TAA and each of the other Assigned Documents; and
WHEREAS, the parties hereto wish to make certain changes to the TAA as herein provided.
NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein and in the TAA, the parties hereto agree as follows:
SECTION 1. Definitions.  All capitalized terms not otherwise defined herein are used as defined in the TAA.
SECTION 2. Assignment and Assumption.
2.1.Sale and Assignment by Assignor to Assignee.  At or before 2:00 pm (New York time) on the date hereof, the Assignee shall pay to the Assignor, in immediately available funds, (i) the amount set forth on Exhibit A hereto (such amount, the “Principal Payment”) representing 100.00% of the Net Investment attributed to the Assignor under the TAA on the date hereof and (ii) the amount set forth on Exhibit A hereto representing all accrued but unpaid (whether or not then due) Yield, Program Fee, fees and other costs and expenses payable in respect of the Net Investment attributed to the Assignor to but excluding the date hereof (such amount, the “CP Costs and Other Costs”; together with the Principal Payment, collectively, the “Payoff Amount”).  Upon the Assignor’s receipt of the Payoff Amount in its entirety, the Assignor hereby sells, transfers, assigns and delegates to the Assignee, without recourse, representation or warranty except as 

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otherwise provided herein, and the Assignee hereby irrevocably purchases, receives, accepts and assumes from the Assignor, all of the Assignor’s rights under, interest in, title to and all its obligations under the TAA and the other Assigned Documents.  Without limiting the generality of the foregoing, the Assignor hereby assigns to the Assignee all of its right, title and interest in the Asset Interest.
Payment of each portion of the Payoff Amount shall be made by wire transfer of immediately available funds in accordance with the payment instructions set forth on Exhibit B hereto.
2.2.Removal of Assignor.  From and after the Effective Date (as defined below), the Assignor shall cease to be a party to the TAA and each of the other Assigned Documents to which it was a party and shall no longer have any rights or obligations under the TAA or any other Assigned Document (other than such rights which by their express terms survive termination thereof).
2.3.Limitation on Liability.  Notwithstanding anything to the contrary set forth in this Amendment, the Assignee does not accept or assume any liability or responsibility for any breach, failure or other act or omission on the part of the Assignor, or any indemnification or other cost, fee or expense related thereto, in each case which occurred or directly or indirectly arose out of an event which occurred prior to the Effective Date.
2.4.Acknowledgement and Agreement.    Each of the parties and signatories hereto (i) hereby acknowledges and agrees to the sale, assignment and assumption set forth in Section 2.1 above, (ii) expressly waives any notice or other applicable requirements set forth in any Transaction Document as a prerequisite or condition precedent to such sale, assignment and assumption (other than as set forth herein) and (iii) acknowledges and agrees that this Section 2 is in form and substance substantially similar to an Assignment and Assumption Agreement.
2.5.Fee Letter.  For the avoidance of doubt, it is understood and agreed that the sale, assignment and assumption set forth in Section 2.1 above shall not result in a pricing increase in the Program Fee of the type described in the proviso to paragraph (a) of the Master Fee Letter.
SECTION 3. Changes to TAA.  Effective as of the date the conditions specified in Section 4 hereof are satisfied, the TAA is hereby amended to incorporate changes shown on the marked pages to the TAA attached hereto as Appendix A.
SECTION 4. Conditions Precedent.  Section 3 hereof shall become effective on the date (the “Effective Date”) on which the Agent shall have received (i) a counterpart (or counterparts) of this Amendment, executed and delivered by each of the parties hereto, or other evidence satisfactory to the Agent of the execution and delivery of this Amendment by such parties and (ii) confirmation that the Assignor shall have received the Payoff Amount in its entirety in accordance with Section 2 of this Amendment.
SECTION 5. Miscellaneous.
5.1.Representations and Warranties.  The SPV hereby represents and warrants that (i) this Amendment constitutes a legal, valid and binding obligation of the SPV, enforceable against it in accordance with its terms and (ii) upon the effectiveness of this Amendment, no Termination Event or Potential Termination Event shall exist.
5.2.References to TAA.  Upon the effectiveness of this Amendment, each reference in the TAA to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import shall mean and be a reference to the TAA as amended hereby, and each reference to the TAA in any other document, instrument or agreement 

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executed and/or delivered in connection with the TAA shall mean and be a reference to the TAA as amended hereby.
5.3.Effect on TAA.  Except as specifically amended above, the TAA and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed.
5.4.Costs and Expenses.  The SPV hereby agrees to the pay the reasonable costs and expenses of the Agent, including legal fees, in connection with this Amendment within thirty (30) days of receipt of a statement therefor.
5.5.Further Assurances.    Each of the Ashland and the SPV hereby agrees to do all such things and execute all such documents and instruments, at the SPV’s sole expense, as the Assignee may reasonably consider necessary or desirable to give full effect to the assignment and assumption set forth in Section 2 of this Amendment.
5.6.Severability.  Each provision of this Amendment shall be severable from every other provision of this Amendment for the purpose of determining the legal enforceability of any provision hereof, and the unenforceability of any provision hereof, and the unenforceability of one or more provisions of this Amendment in one jurisdiction shall not have the effect of rendering such provision or provisions unenforceable in any other jurisdiction.
5.7.No Proceedings.  Each of the SPV and Ashland hereby covenants and agrees that, prior to the date which is one (1) year and one (1) day after the payment in full of all outstanding Commercial Paper or other rated indebtedness of Market Street, it will not institute against, or join any other Person in instituting against, Market Street any proceeding of a type referred to in the definition of Event of Bankruptcy.
5.8.No Waiver.  The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Agent or any Investor under the TAA or any other document, instrument or agreement executed in connection therewith, nor constitute a waiver of any provision contained therein, except as specifically set forth herein.
5.9.Governing Law.  This Amendment, including the rights and duties of the parties hereto, shall be governed by, and construed in accordance with, the internal laws of the State of New York (without reference to the conflicts of law principles thereof other than Section 5-1401 of the New York General Obligations Law).
5.10.Successors and Assigns.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.
5.11.Headings.  The Section headings in this Amendment are inserted for convenience of reference only and shall not affect the meaning or interpretation of this Amendment or any provision hereof.
5.12.Counterparts.  This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.
	
			
	 
	CVG CAPITAL III LLC, as SPV

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Brian D. Menshouse

	 
	Name:
	Brian D. Menshouse

	 
	Title:
	Treasurer

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-1

Ashland/CVG III Third Amendment

	
			
	 
	ASHLAND INC., individually and as Master Servicer

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Eric N. Boni

	 
	Name:
	Eric N. Boni

	 
	Title:
	Vice President and Treasurer

	
			
	 
	ASHLAND INC., individually and as Originator

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Eric N. Boni

	 
	Name:
	Eric N. Boni

	 
	Title:
	Vice President and Treasurer

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-2

Ashland/CVG III Third Amendment

	
			
	 
	HERCULES INCORPORATED, as Originator

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Eric N. Boni

	 
	Name:
	Eric N. Boni

	 
	Title:
	Vice President - Finance

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-3

Ashland/CVG III Third Amendment

	
			
	 
	ASHLAND SPECIALTY INGREDIENTS G.P.,  as Originator

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Lynn P. Freeman

	 
	Name:
	Lynn P. Freeman

	 
	Title:
	Vice President/Assistant Secretary and Treasurer

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-4

Ashland/CVG III Third Amendment

	
			
	 
	ISP TECHNOLOGIES INC., as Originator

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Lynn P. Freeman

	 
	Name:
	Lynn P. Freeman

	 
	Title:
	Vice President/Assistant Secretary and Treasurer

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-5

Ashland/CVG III Third Amendment

	
			
	 
	ASHLAND ELASTOMERS LLC, as Originator

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Eric N. Boni

	 
	Name:
	Eric N. Boni

	 
	Title:
	Vice President - Finance

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-6

Ashland/CVG III Third Amendment

	
			
	 
	LIBERTY STREET FUNDING LLC, as a Conduit Investor and Uncommitted Investor

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Jill A. Russo

	 
	Name:
	Jill A. Russo

	 
	Title:
	Vice President

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-7

Ashland/CVG III Third Amendment

	
			
	 
	MARKET STREET FUNDING LLC, as a Conduit Investor, Uncommitted Investor and Assignor

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Doris J. Hearn

	 
	Name:
	Doris J. Hearn

	 
	Title:
	Vice President

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-8

Ashland/CVG III Third Amendment

	
			
	 
	GOTHAM FUNDING CORPORATION, as a Conduit Investor and Uncommitted Investor

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ David V. DeAngelis 

	 
	Name:
	David V. DeAngelis 

	 
	Title:
	Vice President

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-9

Ashland/CVG III Third Amendment

    
	
			
	 
	THE BANK OF NOVA SCOTIA, as Agent, as a Letter of Credit Issuer, as a Managing Agent, Administrator and Committed Investor for the Scotiabank Investor Group

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Darren Ward

	 
	Name:
	Darren Ward 

	 
	Title:
	Director

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-10

Ashland/CVG III Third Amendment

	
			
	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD, as a Managing Agent and Administrator for the BTMU Investor Group

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Van Dusenbury

	 
	Name:
	Van Dusenbury

	 
	Title:
	Managing Director

	
			
	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD, as a Letter of Credit Issuer and Committed Investor for the BTMU Investor Group

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Mark S. Campbell

	 
	Name:
	Mark S. Campbell

	 
	Title:
	Authorized Signatory

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-11

Ashland/CVG III Third Amendment

	
			
	 
	PNC BANK, NATIONAL ASSOCIATION, as a Letter of Credit Issuer, Managing Agent, Administrator, Committed Investor for the PNC Investor Group and Assignee

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Jason Rising

	 
	Name:
	Jason Rising

	 
	Title:
	Senior Vice President

[SIGNATURES CONTINUE ON THE FOLLOWING PAGE]

S-12

Ashland/CVG III Third Amendment

	
			
	 
	SUNTRUST BANK, as a Letter of Credit Issuer, a Committed Investor, the Managing Agent and Administrator for the SunTrust Investor Group

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Kyle Shenton

	 
	Name:
	Kyle Shenton

	 
	Title:
	Vice President

S-13

Ashland/CVG III Third AmendmentExhibit 10-27

		

			EXHIBIT 10.27

		

		
			MWI VETERINARY SUPPLY CO.
		

		
			KEY EMPLOYEE Nondisclosure AND nonCOMPETITION AGREEMENT

		

		
			This Key Employee Nondisclosure and Noncompetition Agreement (“Agreement”) is made by and between Jeremy Ouchley (“Employee”) and MWI Veterinary Supply Co., an Idaho corporation (the "Company"), in connection with the inception of Employee’s employment with the Company (as described further in the offer letter dated August 30, 2013).  Employee and the Company agree as follows:
		

		
			
fAIR COMPETITION COVENANTS
		

		
			Acknowledgements.  Employee acknowledges and agrees that in the course of his employment with the Company, Employee, by reason of the Company's investment of time, money, trust, exposure to the public, or exposure to technologies, intellectual property, business plans, business processes and methods of operation, customers, vendors or other business relationships during the course of employment, will gain a high level of inside knowledge, influence, credibility, notoriety, fame, reputation or public persona as a representative or spokesperson of the Company, and as a result, will have the ability to harm or threaten the Company's and/or its affiliates’ legitimate business interests, including without limitation its goodwill, technologies, intellectual property, and other Confidential Information.  In consideration of the foregoing, Employee’s employment with the Company and resulting compensation, and other good and valuable consideration, Employee agrees to the restrictions set forth in this Agreement. 
		

		
			Nondisclosure Covenant. Employee agrees that Employee will not, directly or indirectly, during the term of Employee’s employment with the Company or at any time thereafter, without the prior express written consent of the Company, use or divulge, disclose or make available or accessible any Confidential Information to any person or entity (other than when required to do so in good faith to perform Employee’s duties and responsibilities on behalf of the Company during the term of Employee’s employment with the Company, or when required to do so by a lawful order of a court of competent jurisdiction, any governmental authority or agency, or any recognized subpoena power).  In the event that Employee becomes legally compelled (by oral questions, interrogatories, request for information or documents, subpoena, criminal or civil investigative demand or similar process) to disclose any Confidential Information, then prior to such disclosure, Employee will provide the Company with prompt written notice so that the Company may seek (with Employee’s cooperation) a protective order or other appropriate remedy and/or waive compliance with the provisions of this paragraph.  In the event that such protective order or other remedy is not obtained, then Employee will furnish only that portion of the Confidential Information which he is advised by counsel is legally required, and will cooperate with the Company in the Company’s efforts to obtain reliable assurance that confidential treatment will be accorded to the Confidential Information.  Employee shall also proffer to the Company, no later than the effective date of any termination of Employee’s employment with the Company for any reason or upon the earlier request of the Company, and without retaining any copies, notes or excerpts thereof, all memoranda, computer disks or other media, computer programs, diaries, notes, records, data, customer or client lists, marketing plans and strategies, and any other documents consisting of or containing Confidential Information, as well as all other property belonging to the Company or its affiliates, in each case, that are in Employee’s actual or constructive possession or which are subject to Employee’s control at such time.  The obligations contained in this paragraph are in addition to, and not in lieu of, any obligations to which Employee may be subject under the Idaho Rules of Professional Conduct or similar rules governing lawyers in any applicable jurisdiction. 
		
Noncompetition Covenant
		
			.  Employee agrees that Employee will not, directly or indirectly, during the Noncompete Period, within the United States, solicit, sell or render any services or products in a Competitive Business, including, but not limited to, as a proprietor, member, partner, investor, shareholder, director, officer, employee, consultant, or independent contractor.  Nothing herein shall prohibit Employee from being a passive investor of not more than 5% of the outstanding stock of any class of capital stock of a corporation which is publicly traded, so long as Employee has no active participation in the business of such corporation.
		

		 

		

			 

		

 

		

			 

		

Nonsolicitation Covenant
		
			.  During the Noncompete Period, Employee shall not, directly or indirectly, (i) solicit, induce, or attempt to solicit or induce, any Protected Customer to terminate or reduce any relationship with the Company or any affiliate, or in any way interfere with the relationship between the Company or any affiliate and any Protected Customer,  (ii) solicit, induce, or attempt to solicit or induce, any employee or independent contractor of the Company or any affiliate to terminate or reduce any relationship with the Company or such affiliate, or in any way interfere with the relationship between the Company or any affiliate and any employee or independent contractor thereof, (iii) hire or attempt to hire any person who is an employee or independent contractor of the Company or any affiliate, or was such an employee or independent contractor within six (6) months prior to such hiring or attempt to hire, or (iv) induce or attempt to induce any supplier, manufacturer’s representative, vendor, licensee, licensor, franchisee or other business relation of the Company or any affiliate to terminate or reduce any relationship with the Company or such affiliate, or in any way interfere with the relationship between any such supplier, manufacturer’s representative, vendor, licensee, licensor, franchisee or other business relation and the Company or any affiliate.  
		
Nondisparagement Covenant
		
			.  During and after the term of Employee’s employment with the Company, Employee shall not directly or indirectly, in any forum or through any medium of communication, make statements injurious to the business reputation or good will of the Company or any of the members of its board, its officers or employees.
		

		
			Ownership of Property.  Employee acknowledges that all Work Product belongs to the Company or any affiliate of the Company designated by the Company, and Employee hereby assigns, all Work Product to the Company or such affiliate of the Company.  Any copyrightable work prepared in whole or in part by Employee in the course of Employee’s work for the Company or any affiliate shall be deemed a “work made for hire” under the copyright laws, and the Company or such affiliate of the Company shall own all rights therein.  To the extent that any such copyrightable work is not a “work made for hire,” Employee hereby assigns and agrees to assign to the Company or such affiliate of the Company all right, title, and interest, including without limitation, copyright in and to such copyrightable work.  Employee shall promptly disclose such Work Product and copyrightable work to the Company and perform all actions reasonably requested by the Company (whether during or after the term of employment) to establish and confirm the ownership of the Company or such affiliate of the Company (including, without limitation, assignments, consents, powers of attorney and other instruments).
		
Breach of Covenants
		
			.  If, at the time of enforcement of this Agreement, a court holds that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area.  The parties hereto agree that the Company will suffer irreparable harm in the event of a breach of this Agreement, and money damages would not be an adequate remedy for any breach of this Agreement.  Therefore, in the event of a breach or threatened breach of this Agreement, the Company or its successors or assigns will, in addition to other rights and remedies, be entitled to specific performance and/or injunctive or other relief in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security), in addition to all reasonable attorneys’ fees and costs incurred by the Company or its successors or assigns in enforcing its rights under this Agreement.  In addition, in the event of an alleged breach or violation by Employee of any obligation in the above paragraphs labeled “Noncompetition Covenant” and/or “Nonsolicitation Covenant” of this Agreement, the Noncompete Period shall be tolled until such breach or violation has been duly cured.  Employee agrees that the restrictions contained in this Agreement are reasonable, and that any claims that Employee may have against the Company, whether under this Agreement or otherwise, shall not constitute a defense to enforcement of the restrictions contained in this Agreement, except as expressly provided herein.    
		
Noncompetition Payment.
		
			  If Employee’s employment with the Company is terminated, other than (i) by the Company for Cause, or (ii) pursuant to a voluntary termination by Employee which is not within 90 days following a Good Reason Event, as a condition to Employee being obligated to comply with the obligations contained in the paragraph above labeled “Noncompetition Covenant,” the Company shall continue to pay Employee at a rate equal to Employee’s base salary at the time of such termination for the duration of the Noncompete Period, provided that such payments shall be made pursuant to the Company’s normal payroll practices and shall be subject to any required or authorized withholding and declarations.  Notwithstanding the foregoing, the Company shall not be obligated to make the noncompetition payments described in this paragraph if the Company gives Employee written notice, within 15 days after the date of the termination of employment (in the event the Company elects to waive all of the Noncompete Period) or at least 15 days prior to the effectiveness of such waiver (in the event the Company elects to waive less than all of the Noncompete Period), that the 
		

		 

		

			 

		

 

		

			 

		

		Company has elected to waive the provisions contained in the paragraph hereof labeled “Noncompetition Covenant” for all or part of the Noncompete Period and thus not pay the noncompetition payment described above for such period of waiver.    Notwithstanding the foregoing, the Employee agrees that the payments described in this paragraph are provided solely in consideration of Employee’s compliance with the obligations contained in the paragraph hereof labeled “Noncompetition Covenant,” such that in the event Employee breaches any of the obligations contained in that paragraph, or any obligations contained in that paragraph are deemed unenforceable as written (in whole or in part) for any reason, any obligation of the Company to make any further payments described in this paragraph will automatically and immediately cease, and Employee must repay Company for any such payments previously made to Employee under this paragraph.  For the avoidance of doubt, nothing in this paragraph affects the Employee’s obligations under any paragraph of this Agreement other than the paragraph labeled “Noncompetition Covenant,” and Employee must comply with all provisions of such paragraphs of this Agreement regardless of whether the Company elects to make the payments described in this paragraph.  
		

		
			Definitions.
		
“Cause”
		
			  means (i) the continued failure by Employee to perform his duties as reasonably directed by the Employee’s supervisor of the Company, which such failure continues for ten (10) days after written notice of such failure provided to Employee, (ii) willful misconduct by Employee in the performance of Employee’s duties, (iii) gross negligence by Employee in the performance of Employee’s duties that materially harms the Company, (iv) Employee’s commission of a felony or other offense involving dishonesty or moral turpitude, or (v) any breach by Employee of Employee’s obligations set forth in this Agreement.
		

		
			“Competitive Business” means any person or entity engaged in (i) the sale, marketing, distribution, warehousing, manufacturing, fabrication or shipping of animal health products or services, or (ii) any other business that the Company conducts (or has specific plans to conduct) as of the date the employment of Employee is terminated.    
		
“Confidential Information”
		
			 means all information respecting the business and activities of the Company or any affiliate of the Company,  and includes, but is not limited to, any information relating to organizational structure, personnel data, marketing philosophy and objectives, project plans, business strategies, business initiatives, trade secrets, system design, methodologies, processes, competitive advantages and disadvantages, financial information and results, audit reports and materials, marketing strategies, business plans, systems, operations, technology, existing or potential customer lists and addresses and other customer information,  vendor information, product development, advertising or sales programs, and any other information which would give the Company or any affiliate an opportunity to obtain an advantage over its competitors or which the Company or any affiliate is ethically or legally obligated to protect from unauthorized disclosure or use.  Confidential Information shall not include (i) such information that is lawfully available to the Employee from a source other than the Company, or (ii) such information that becomes generally known to and available for use by the public other than as a result of Employee’s acts or omissions in violation of this Agreement or any other obligation.
		
“Good Reason Event”
		
			    means, without Employee’s consent, (i) relocation by Company of Employee’s principal place of work outside of Idaho, or (ii) a material reduction by the Company of Employee’s employment responsibilities or compensation.
		

		
			“Noncompete Period” means the term of Employee’s employment with the Company and for one year following the termination (for any reason) of Employee’s employment with the Company.
		

		
			“Protected Customer” means any customer or client of the Company or any affiliate with whom Employee had contact, for whom Employee had oversight responsibilities, or about whom Employee obtained Confidential Information during Employee’s employment with the Company.
		
“Work Product”
		
			    means all discoveries, concepts, ideas, inventions, innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work and all registrations or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable) that relate to the Company’s or any affiliate’s actual or anticipated business, research 
		

		 

		

			 

		

 

		

			 

		

		and development, or existing or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by Employee (either solely or jointly with others) while employed by the Company (including any of the foregoing that constitutes Confidential Information).
		
Not An Employment Contract
		
			.  Employee agrees that this Agreement is not an employment contract for any particular term and that Employee has the right to resign and the Company has the right to terminate Employee’s employment at will, at any time, for any or no reason, with or without Cause.  
		

		
			
Interpretation
		
Governing Law and Amendments.  The laws of the State of Idaho shall govern the interpretation and enforcement of this Agreement, without regard to conflicts of law principles
		
			.  This Agreement may be amended, and any term of this Agreement may be waived, only by a written agreement signed by Employee and the President of the Company.  Nothing in this Agreement shall be construed to restrict the Employee’s ability to practice law beyond the scope of restriction permissible under the Idaho Rules of Professional Conduct or similar rules governing lawyers in any applicable jurisdiction.
		
Nonwaiver of Remedies
		
			  The failure or neglect of a party to enforce any remedy available by reason of the failure of another party to observe or perform a term or condition set forth in this Agreement shall not constitute a waiver of the term or condition.  A waiver by a party (i) shall not affect any term or condition other than the ones specified in the waiver, (ii) shall waive a specified term or condition only for the time and in the manner specifically stated in the waiver, and (iii) shall waive a specified term or condition only for the parties expressly named in the waiver and no other parties.
		
Entire Agreement
		
			.  This Agreement constitutes the full and entire understanding and agreement between the parties regarding the subject matter of this Agreement.
		

		
			Severability.  Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.
		

		
			Successors and Assigns.  This Agreement may be assigned by the Company, but shall not be assignable by Employee.  Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Employee, the Company and their respective permitted successors and assigns.
		

		
			 
		

		
			EMPLOYEE
		

		
			Dated:  October 7, 2013                                                /s/ Jeremy Ouchley
Jeremy Ouchley,  Vice President & General Counsel
		

		
			MWI VETERINARY SUPPLY CO.
		

		
			Dated:  October 7,  2013                                               /s/ Jim Cleary
		

		
			                                                                                     By: Jim Cleary, President & CEO

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