Document:

EX-10.7

 Exhibit 10.7 

EXECUTION VERSION 

ACQUISITION FACILITY AMENDMENT 

TO 
 SENIOR UNSECURED
JAPANESE YEN TERM LOAN CREDIT AGREEMENT 
 This Acquisition Facility Amendment to Senior Unsecured Japanese Yen Term Loan Credit
Agreement (this “Amendment”), dated as of 24 September 2015, is made and entered into by and among Teva Pharmaceutical Industries Limited (the “Parent”), Teva Holdings K.K. (the “Borrower”) and
Mizuho Bank, Ltd., as Administrative Agent (with the consent of the Required Lenders (as defined in the Credit Agreement (as defined below))) (the “Administrative Agent”). 

Recitals: 

Reference is made to the Senior Unsecured Japanese Yen Term Loan Credit Agreement dated as of 17 December 2013 (as amended from time to
time, the “Credit Agreement”), between, amongst others, the Parent, the Borrower, the Lenders named therein and the Administrative Agent. 

WHEREAS, the Borrower and the Parent have requested that the Administrative Agent (with the consent of the Required Lenders) amend the
Credit Agreement as hereinafter set forth; 
 NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth
herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Definitions. 

Each capitalized term used in this Amendment, unless otherwise defined herein, shall have the meaning ascribed to such term in the Credit
Agreement. 
 2.    Amendments to the Credit Agreement. 

 

	 	(a)	The Credit Agreement is hereby amended by adding the following definitions to Section 1.01 of the Credit Agreement: 

“Acquisition” means the acquisition of the Acquired Business. 

“Acquired Business” means the generic products business and
over-the-counter (nonprescription) business of Allergan plc and its affiliates as further described in the Acquisition Agreement. 

“Acquisition Agreement” means the master purchase agreement dated 26 July 2015 between the Parent and Allergan plc
(including the Exhibits and Schedules thereto) as it may be modified, supplemented or amended. 
 “Acquisition Closing
Date” means the closing of the Acquisition in accordance with the terms of the Acquisition Agreement in the manner set forth in the Parent Acquisition Closing Confirmation and the delivery of the Parent Acquisition Closing Confirmation.

 “Acquisition Financing Arrangement” means any financing arrangement, whether
securities or loans, under which the net proceeds are required to be used to finance all or part of the consideration payable for the Acquisition and which simultaneously reduce amounts available under the Bridge Financings (which may or may not
subject to an escrow arrangement). 
 “Acquisition Transaction” means the entering into the Bridge Financing (including the
issuance of any debt or equity securities of the Parent in lieu thereof) and the use of proceeds therefrom, the consummation of the Acquisition (including the payment of the consideration in respect thereof), the refinancing of certain indebtedness
of the Acquired Business to the extent the Cash Consideration (as defined in the Acquisition Agreement) is reduced by such amount or such amount is not material and the payment of fees and expenses related to the foregoing. 

“Bridge Financing” means the bridge financing arrangements with respect to the Acquisition of (i) up to
US$27,000,000,000 in loans under a senior unsecured bridge loan credit facility and (ii) up to US$6,750,000,000 in loans under an equity bridge loan credit facility, in each of cases (i) and (ii), pursuant to the commitment letters dated
31 July 2015 and/or definitive documentation with respect to the same. 
 “Cash Acquisition Consideration” means all
or a portion of the cash consideration paid as part of the Acquisition. 
 “Longstop Date” means the earlier of
(i) the closing of the Acquisition, (ii) the date 35 days following the Outside Date (as defined in the Acquisition Agreement as in effect on 31 July 2015) as it may be extended as contemplated by (and in accordance with)
Section 11.1(b) of the Acquisition Agreement (as in effect on 31 July 2015) or (iii) the date 35 days following the date of termination of the Acquisition Agreement pursuant to the terms thereof when publicly disclosed by the Parent
(x) pursuant to a public filing with the SEC or (y) in an official press release issued by the Parent. 
 “Parent
Acquisition Closing Confirmation” means a certificate signed by a Financial Officer of the Parent confirming that (i) the Acquisition has been consummated in accordance with the Acquisition Agreement and the documents associated
therewith (as in effect on 26 July 2015) or after giving effect to any alterations, amendments, changes, supplements or waivers thereto other than any of the foregoing that are materially adverse to the Lenders (or with the prior written
consent of the Required Lenders, not to be unreasonably withheld or delayed) (provided that (a) a reduction in purchase price in the aggregate Cash Acquisition Consideration of less than 10% below the amount contemplated by the Acquisition
Agreement (as in effect on 26 July 2015) shall not be deemed to be materially adverse to the interests of the Lenders and (b) to the extent all or a portion of the Bridge Financing funds on such date, each Lender or Affiliate that is a
party to any Bridge Financing shall be automatically deemed to have provided consent hereunder to any alteration, amendment change, supplement or waiver of the Acquisition Agreement and the documents associated therewith (and shall provide written
consent to the same to the extent required)), (ii) the Acquisition has been consummated in accordance with Section 10.1(b) of the Acquisition Agreement (as in effect on 26 July 2015) as it relates to approvals under the HSR Act and the
antitrust laws of the European Union (each as defined in the Acquisition Agreement), (iii) since 26 July 2015, no Effects (as defined in the Acquisition 

  
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Agreement as in effect on 26 July 2015) have occurred which, individually or in the aggregate, have had (and have continued to have) or would reasonably be expected to have, a Seller
Material Adverse Effect (as defined in the Acquisition Agreement as in effect on 26 July 2015) and (iv) the Parent designates the Parent Acquisition Closing Confirmation as a Loan Document and that the Lenders can rely on foregoing
confirmations as representations and warranties under such Loan Document. 
  

	 	(b)	The Credit Agreement is hereby amended by deleting the definition of “Consolidated Cash and Cash Equivalents” set forth in Section 1.01 of the Credit Agreement in its entirety and replacing it with the
following: 

 “Consolidated Cash and Cash Equivalents” means, with respect to any Person, the: 

(a)    cash on hand or on deposit with any bank of such Person; plus 

(b)    all other assets held by such Person that should be classified as “cash equivalents” in accordance with
GAAP, 
 included in the cash and cash equivalents accounts listed on the consolidated balance sheet of Parent and its Subsidiaries,
determined on a consolidated basis in accordance with GAAP (excluding any such cash or cash equivalents subject to an Encumbrance, other than non-consensual Permitted Encumbrances); plus 

(c)    any cash or cash equivalents held by the Parent and its Subsidiaries which are proceeds from any Acquisition
Financing Arrangement and which would otherwise not be included in the definition of Consolidated Cash and Cash Equivalents.” 
  

	 	(c)	The Credit Agreement is hereby amended by deleting the definition of “Material Indebtedness” set forth in Section 1.01 of the Credit Agreement in its entirety and replacing it with the following:

 “Material Indebtedness” means, Indebtedness (other than the Loans), of any one or more of Parent and its
Subsidiaries in an aggregate principal amount exceeding US$200,000,000 (or its equivalent in another currency or currencies). 
  

	 	(d)	The Credit Agreement is hereby amended by deleting the definition of “Interest Payable” set forth in Section 1.01 of the Credit Agreement in its entirety and replacing it with the following:

 “Interest Payable” means all interest, acceptance commission and any other continuing, regular or periodic
costs and expenses in the nature of interest and amortization of debt discount (whether paid, payable or capitalized), incurred by Parent and its consolidated Subsidiaries in effecting, servicing or maintaining Total Consolidated Debt (excluding,
prior to the Longstop Date, any Indebtedness incurred under an Acquisition Financing Arrangement but including, for the avoidance of doubt, such Indebtedness for the entirety of any relevant Test Period ending after the Longstop Date but only with
respect to Indebtedness under an Acquisition Financing Arrangement that remains outstanding after the Longstop Date) during a Test Period but excluding exchange differentials; provided, that, with respect to any period during which a

  
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Subject Transaction has occurred, for purposes of determining the Interest Cover Ratio, Interest Payable shall be calculated with respect to such period on a pro forma basis using the
consolidated financial statements of the Parent and its Subsidiaries which shall be reformulated as if such Subject Transaction, and any Indebtedness incurred or repaid in connection therewith, had been consummated or incurred or repaid at the
beginning of such period.” 
  

	 	(e)	The Credit Agreement is hereby amended by deleting the definition of “Transactions” set forth in Section 1.01 of the Credit Agreement in its entirety and replacing it with the following:

 “Transactions” means the execution, delivery and performance by the Borrower of this Agreement, the
borrowing of Loans and the Acquisition Transactions. 
  

	 	(f)	The Credit Agreement is hereby amended by deleting Section 3.11 of the Credit Agreement in its entirety and replacing it with the following: 

“Section 3.11 Margin Securities. Such Loan Party is not engaged principally, or as one of its
important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T, U or X of the Board of Governors of the Federal Reserve System of the United States of America),
and no part of the proceeds of any Loan will be used to purchase or carry any margin stock in violation of said Regulations T, U or X or to extend credit to others for the purpose of purchasing or carrying margin stock in violation of said
Regulations T, U or X. Not more than 25% of the value of the assets (either of any Loan Party only or of any Loan Party and its Subsidiaries on a consolidated basis) subject to any limitation on sale, pledge or other restriction under this Agreement
or subject to any restriction contained in any agreement or instrument, between any Loan Party and any Lender or any Affiliate of any Lender, relating to Indebtedness and within the scope of Section 7.01(f) of this Agreement, will be margin
stock (within the meaning of Regulations T, U or X of the Board of Governors of the Federal Reserve System of the United States of America).” 
  

	 	(g)	The Credit Agreement is hereby amended by deleting Section 6.01(ii) of the Credit Agreement in its entirety and replacing it with the following: 

“any Subsidiary may merge, consolidate or amalgamate (or engage in a substantially similar transaction) with any other Person in a
transaction in which the surviving entity is a wholly owned Subsidiary (in the case of a Loan Party, subject to preceding clause (i)),” 
  

	 	(h)	The Credit Agreement is hereby amended by deleting Section 6.01(xi) of the Credit Agreement in its entirety and replacing it with the following: 

“the Parent or any Subsidiary may sell Receivable Assets to a Securitization Entity in a Qualified Securitization Transaction for the fair
market value thereof; provided that at no time shall more than US$2,500,000,000 (or its equivalent in another currency or currencies) in fair market value of assets be subject to such Qualified Securitization Transaction,” 

  
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	 	(i)	The Credit Agreement is hereby amended by adding a new sub-clause (xv) after Section 6.01(xiv) of the Credit Agreement as follows: 

“(xv) the Parent or any Subsidiary may consummate the Acquisition Transaction in accordance with the Acquisition Agreement.” 

 

	 	(j)	The Credit Agreement is hereby amended by adding a new sub-clause (xvi) after Section 6.01(xv) of the Credit Agreement as follows: 

“(xvi) the Parent or any Subsidiary may dispose of any shares of Mylan N.V. or its successors held by any of them as of 31 July 2015
and any other shares issued thereon.” 
  

	 	(k)	The Credit Agreement is hereby amended by deleting Section 6.03(p) of the Credit Agreement in its entirety and replacing it with the following: 

“(p)    any other Encumbrances securing obligations and other Financing Arrangements; provided that the
aggregate amount of obligations or Financing Arrangements secured in accordance with this subclause (p) shall not exceed US$2,000,000,000 (or its equivalent in another currency or currencies) at any time outstanding;” 

 

	 	(l)	The Credit Agreement is hereby amended by deleting Section 6.03(r) of the Credit Agreement in its entirety and replacing it with the following: 

“(r)    Encumbrances over any Receivable Assets subject to a Qualified Securitization Transaction; provided
that the aggregate fair market value of all Receivable Assets secured in accordance with this subclause (r) shall not exceed US$2,500,000,000 (or its equivalent in another currency or currencies) at any one time outstanding.” 

 

	 	(m)	The Credit Agreement is hereby amended by adding a new sub-clause (s) after Section 6.03(r) of the Credit Agreement as follows: 

“(s)    Encumbrances over any escrow arrangements in connection with any Acquisition Financing Arrangement.”

  

	 	(n)	The Credit Agreement is hereby amended by adding a new sub-clause (t) after Section 6.03(s) of the Credit Agreement as follows: 

“(t)    Encumbrances over any shares of Mylan N.V. or its successors held by any of the Parent or its Subsidiaries as
of 31 July 2015 and any other shares issued thereon.” 
  

	 	(o)	The Credit Agreement is hereby amended by deleting clause (a) in the table under Section 6.04 of the Credit Agreement in its entirety and replacing it with the following: 

  
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	 	  	 Four-quarter Test
Period ending with the
quarters below
(Q1
being the first full fiscal
quarter after the
Acquisition Closing
Date occurs)
	  	 Leverage Ratio

	 (a)Total Consolidated Net Debt to EBITDA
	  	Q1	  	No greater than 5.25x
	  	Q2 (the quarter after Q1)	  	No greater than 5.25x
	  	Q3 (the quarter after Q2)	  	No greater than 5.00x
	  	Q4 (the quarter after Q3)	  	No greater than 5.00x
	  	Q5 (the quarter after Q4)	  	No greater than 4.25x
	  	Q6 (the quarter after Q5)	  	No greater than 4.25x
	  	Q7 (the quarter after Q6)	  	No greater than 4.00x
	  	Q8 (the quarter after Q7)	  	No greater than 4.00x
	  	Q9 (the quarter after Q8) and thereafter	  	No greater than 3.50x

  

	 	(p)	The Credit Agreement is hereby amended by deleting Section 7.01(j) of the Credit Agreement in their entirety and replacing it with the following: 

“(j)    one or more judgments for the payment of money in an aggregate uninsured amount equal to or greater than
US$200,000,000 (or its equivalent in another currency or currencies) in excess of the amount of insurance coverage shall be rendered against any Loan Party or any Material Subsidiary or any combination thereof and the same shall remain undischarged
for a period of 45 consecutive days during which execution shall not be effectively stayed, vacated or bonded pending appeal or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of any Loan Party or any such
Material Subsidiary to enforce any such judgment for the payment of money in an aggregate uninsured amount in excess of US$200,000,000 (or its equivalent in another currency or currencies);” 

 

	 	(q)	The Credit Agreement is hereby amended by deleting Section 7.01(k) of the Credit Agreement in their entirety and replacing it with the following: 

“(k)    one or more ERISA Events shall have occurred, which individually or in the aggregate results in liability of
any Loan Party, any of its subsidiaries, or any of their respective ERISA Affiliates in excess of US$200,000,000 (or its equivalent in another currency or currencies) during the term hereof;” 

 

	 	(r)	The Credit Agreement is hereby amended by deleting Section 7.01(l) of the Credit Agreement in their entirety and replacing it with the following: 

“(l)    this Agreement shall at any time and for any reason be declared by a court of competent jurisdiction to be
null and void, or a proceeding shall be commenced by any Loan Party, or by any Governmental Authority, seeking to establish the invalidity or unenforceability thereof (exclusive of questions or interpretation of any provision thereof), or any Loan
Party shall repudiate or deny any portion of its financial obligation under this Agreement;” 

  
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 3.    Representations and Warranties. Each Loan Party
hereby represents and warrants to the Administrative Agent and each Lender as follows on each of (i) the Pre-Acquisition Closing Effective Date (as defined below), (ii) the Acquisition Closing Date (as
such term is defined in Section 2(a) above) and (iii) the date of any incurrence of Indebtedness subject to an Acquisition Financing Arrangement (as such term is defined in Section 2(a) above): 

 

	 	(a)	immediately before and after giving effect to this Amendment and the Transactions (to the extent consummated on or around the date referred to in (i), (ii) or (iii) above, as applicable, and giving effect to the
amendments herein that are effective on such date), all of the representations and warranties set forth in the Credit Agreement are true and correct on and as of such date, as if made on such date, except to the extent that such representations and
warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date (it being understood that references therein to the Credit Agreement shall be deemed
to refer to the Credit Agreement as amended by this Amendment and after giving effect to the amendments set forth herein and the Transactions); 

  

	 	(b)	the execution, delivery and performance by each Loan Party of this Amendment have been duly authorized by all necessary corporate or other organizational action, as applicable, of such Loan Party; 

 

	 	(c)	this Amendment has been duly executed and delivered by such Loan Party; and 

  

	 	(d)	no Default or Event of Default has occurred, is continuing or would exist after giving effect to this Amendment and the Transactions. 

4.    Effect of this Amendment. Except as modified pursuant hereto, no other changes or modifications
to the Credit Agreement or Loan Documents are intended or implied and in all other respects the Credit Agreement and Loan Documents are hereby specifically ratified, restated and confirmed by all parties hereto as of the effective date hereof. To
the extent of conflict between the terms of this Amendment and the Loan Documents, the terms of this Amendment shall control. The Credit Agreement and this Amendment shall be read and construed as one agreement. 

5.    Effectiveness. 
  

	 	(a)	On the date on which the Administrative Agent shall have received executed signature pages hereof delivered by facsimile transmission or electronic mail (in “.pdf” or similar format) from each of the Parent,
the Borrowers and the Administrative Agent (following the consent of the Required Lenders) (the “Pre-Acquisition Closing Effective Date”), Section 2(a), Section 2(b),
Section 2(d), Section 2(e), Section 2(f), Section 2(g), Section 2(i), Section 2(j), Section 2(m), Section 2(n) and Section 2(r) of this Amendment shall become effective. 

 

	 	(b)	On the Acquisition Closing Date, provided the Pre-Acquisition Closing Effective Date has occurred, this Amendment shall become effective in full. 

  
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 6.    Further Assurances. The parties hereto shall
execute and deliver such additional documents and take such additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment. 

7.    Binding Effect. This Amendment shall be binding upon and inure to the benefit of each of the
parties hereto and their respective successors and assigns. 
 8.    Severability. Any provisions
of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

9.    Reference to the Effect on the Loan Documents. Upon the effectiveness of this Amendment,
(a) each reference in the Credit Agreement to this “Agreement,” “hereunder,” “hereof,” “herein” or words of similar import and (b) each reference in any other Loan Document to “the Credit
Agreement”, shall mean and be a reference to the Credit Agreement as amended by this Amendment. 

10.    Headings. The headings listed herein are for convenience only and do not constitute matters to
be construed in interpreting this Amendment. 
 11.    Counterparts; Electronic Signatures. This
Amendment may be executed by one or more parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page
of this Amendment by facsimile transmission or electronic mail (in “.pdf” or similar format) shall be effective as delivery of a manually executed counterpart hereof. 

12.    Governing Law; Jurisdiction; Consent to Service of Process. 

 

	 	(a)	This Amendment and any non-contractual obligations arising out of or in connection with it shall be construed in accordance with and governed by Japanese law (without regard to
conflicts of laws principles). 

  

	 	(b)	 Each party hereto hereby irrevocably and unconditionally submits to the exclusive jurisdiction of (i) the
Supreme Court of the State of New York sitting in New York County, (ii) the United States District Court of the Southern District of New York, (iii) the Tokyo District Court and (iv) any appellate court from any thereof, in any suit,
action or proceeding arising out of or relating to this Amendment (including any non-contractual obligations arising out of or relating to this Amendment) and each of the parties hereto hereby irrevocably and
unconditionally agrees that any such suit, action or proceeding (“Proceedings”) may be heard and determined in such courts. Each party hereto hereby further irrevocably waives any claim that any such courts lack personal
jurisdiction over it and agrees not to plead or claim in any Proceedings that any such courts lack personal jurisdiction over it. To the extent that any Loan Party in any jurisdiction has, may claim or hereafter may acquire any immunity from
jurisdiction, suit, enforcement, execution, attachment (whether through prior to judgment, in aid of execution, or otherwise) or any other legal process with respect to itself or its property, such Loan Party hereby agrees

  
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not to claim and irrevocably waives such immunity to the full extent permitted by law. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Amendment shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or
proceeding relating to this Amendment against the Borrower or the Guarantor or any of their respective properties in the courts of any jurisdiction to enforce a judgment obtained in accordance with this Section. Each Loan Party agrees that, if the
Administrative Agent or any Lender has brought or initiated Proceedings in any jurisdiction referred to in this paragraph (the “Original Proceedings”), no Loan Party may bring Proceedings which relate to the Original Proceedings or
concern dispute(s) which are the same as or related to any dispute(s) which are the subject of the Original Proceedings in any other jurisdiction, including, for the avoidance of doubt, any other jurisdiction referred to in this paragraph. Nothing
in this Section shall (or shall be construed so as to) limit the right of the Administrative Agent or any Lender to take Proceedings in any of the courts referred to in this paragraph, nor shall the taking of Proceedings in any such jurisdiction by
any Loan Party preclude the taking of Proceedings by the Administrative Agent or any Lender in any other such jurisdiction (whether concurrently or not) if and to the extent permitted by law. 

 

	 	(c)	Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any Proceedings in
any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of any Proceedings in any such
court, including, without limitation, with respect to enforcement and/or proceedings for breach claims, and agrees not to plead that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

  

	 	(d)	Each party to this Amendment irrevocably consents to service of process in the manner provided for notices in Section 11.01 of the Credit Agreement. Such service may be made by mailing (by registered or certified
mail, postage prepaid or any other method which generates a receipt or proof of delivery) or delivering a copy of such process to such Person at the address provided in Section 11.01 of the Credit Agreement (and in the case of service to be
delivered to any Loan Party, each Loan Party hereby acknowledges that, to the extent required, the address for delivery of a copy of such service to counsel for such Loan Party shall be: Office of the General Counsel, Teva Pharmaceutical Industries
Limited, 5 Basel Street Petah Tiqva 49131, Israel, Attention: General Counsel); each party hereto hereby irrevocably waives any objection to such service of process and agrees not to plead or claim in any Proceedings that any such service was in any
way invalid or ineffective. Nothing in this Amendment will affect the right of any party to this Amendment to serve process in any other manner permitted by applicable relevant law. 

[Remainder of this page left intentionally blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

					
	 TEVA PHARMACEUTICAL INDUSTRIES LIMITED

		
	By:	 	 /s/ Eran Ezra

		 	Name:  	 	Eran Ezra 
		 	Title:	 	SVP, Head of Global Treasury Risk Management & Insurance
		
	By:	 	 /s/ Eyal Rubin

		 	Name:	 	Eyal Rubin
		 	Title:	 	VP, Head of Corporate Treasury

 [Signature page to Japanese Yen Credit Agreement Amendment Agreement] 

 
					
	TEVA HOLDINGS K.K.
		
	By:	 	 /s/ Itzhak Krinsky

		 	Name:  	 	Itzhak Krinsky
		 	Title:	 	Representative Director
		
	By:	 	 /s/ Kimio Nishimura

		 	Name:	 	Kimio Nishimura
		 	Title:	 	Representative Director

 [Signature page to Japanese Yen Credit Agreement Amendment Agreement] 

 
					
	 MIZUHO BANK, LTD.,
 as
Administrative Agent

		
	By:	 	  

		 	Name:   Title:	 	 

 [Signature page to Japanese Yen Credit Agreement Amendment Agreement]EX-10.8

 Exhibit 10.8 

EXECUTION VERSION 

AMENDMENT 
 TO 

SENIOR UNSECURED REVOLVING CREDIT AGREEMENT 

This Amendment to Senior Unsecured Revolving Credit Agreement (this “Amendment”), dated as of July 21, 2016, is made and
entered into by and among Teva Pharmaceutical Industries Limited (the “Parent”), Teva Pharmaceuticals USA, Inc., Teva Pharmaceutical Finance Netherlands III B.V., Teva Finance Services B.V., Teva Finance Services II B.V. and Teva
Capital Services Switzerland GmbH (collectively, the “Borrowers”) and Citibank, N.A., as Administrative Agent (with the consent of the Required Lenders (as defined in the Credit Agreement (as defined below))) (the
“Administrative Agent”). 
 Recitals: 

Reference is made to the Senior Unsecured Revolving Credit Agreement dated as of 16 November 2015 (as amended from time to time, the
“Credit Agreement”), between, amongst others, the Parent, the Borrowers, the Lenders named therein and the Administrative Agent. 

WHEREAS, the Borrowers and the Parent have requested that the Administrative Agent (with the consent of the Required Lenders) amend the
Credit Agreement as hereinafter set forth; 
 NOW, THEREFORE, in consideration of the mutual conditions and agreements set forth
herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Definitions. Each capitalized term used in this Amendment, unless otherwise defined herein,
shall have the meaning ascribed to such term in the Credit Agreement. 
 2.    Amendments to the Credit
Agreement. (a) The Credit Agreement is hereby amended by adding the underlined words below to the first sentence of the first paragraph of Section 2.03 of the Credit Agreement: 

To request a Loan (other than a Swingline Loan), the applicable Borrower shall notify the Administrative Agent of such request in writing
(a) in the case of a Eurocurrency Loan denominated in Dollars, not later than 12:00 noon, New York City time, three Business Days before the date of the proposed Loan, (b) in the case of a Eurocurrency Loan denominated in Euro, not later
than 12:00 noon, New York City time, four Business Days before the date of the proposed Loan, or (c) in the case of an ABR Loan, not later than 12:00 noon, New York City time, one Business Day before the date of the proposed Loan;
provided that in relation to any Eurocurrency Loan denominated in Dollars being drawn to finance a portion of the Cash Acquisition Consideration, the applicable Borrower may notify the Administrative Agent of such request in writing
not later than 9:00 a.m., London time, two Business Days before the date of the proposed Eurocurrency Loan; provided that in the case of this proviso, attached to such request shall be a copy of the duly submitted drawdown request under the DCM
Bridge Facility and the Term Loan Credit Agreement among et al. the Parent, and Citibank N.A., as administrative agent, dated November 16, 2015 (as the same may be amended from time to time), to the extent such facilities are
being drawn to finance a portion of the Cash Acquisition Consideration. 

 (b)    The Credit Agreement is hereby amended by adding a new Section 11.03(e) to the
Credit Agreement as follows: 
 “(e)    Notwithstanding anything to the contrary in any Loan Document or in any
other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender Party that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is
unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(i)    the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such
liabilities arising hereunder which may be payable to it by any Lender Party hereto that is an EEA Financial Institution; and 

(ii)    the effects of any Bail-in Action on any such liability,
including, if applicable: 
 (A)    a reduction in full or in part or cancellation of any such liability;

 (B)    a conversion of all, or a portion of, such liability into shares or other instruments of
ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights
with respect to any such liability under this Agreement or any other Loan Document; or 
 (C)    the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.” 

(c)    The Credit Agreement is hereby amended by adding the following definitions to Section 1.01 of the Credit Agreement: 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA
Resolution Authority in respect of any liability of an EEA Financial Institution. 
 “Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to
time which is described in the EU Bail-In Legislation Schedule. 
 “EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an
institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent. 

  
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 “EEA Member Country” means any of the member states of the European Union, the United Kingdom,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any person entrusted with
public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“EU Bail-In Legislation Schedule” means the EU Bail-In
Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 
 “Write-Down and
Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the
applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

(d)    The Credit Agreement is hereby amended by adding the underlined words below to the definition of “Defaulting
Lender” set forth in Section 1.01 of the Credit Agreement: 
 “Defaulting Lender” means, subject to Section 2.20(e), any
Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the applicable Borrower in
writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable failure, shall be specifically identified in such writing)
has not been satisfied, or (ii) pay to the Administrative Agent, any Issuing Bank, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including with respect of its participation in Letters of Credit
or Swingline Loans) within two Business Days of the date when due, (b) has notified the applicable Borrower or the Administrative Agent or any Issuing Bank or the Swingline Lender in writing that it does not intend to comply with its funding
obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s
determination that a condition precedent to funding (which condition precedent, together with any applicable failure, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business
Days after written request by the Administrative Agent or the applicable Borrower, to confirm in writing to the Administrative Agent and the applicable Borrower that it will comply with its prospective funding obligations hereunder (provided that
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the applicable Borrower), or (d) has, or has a direct or indirect parent company that
has, (i) become the subject of a proceeding under any Debtor Relief Law or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with
reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by
a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from 

  
 3 

 
the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject,
repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and
binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.20(e)) upon delivery of written notice of such determination to the applicable Borrower, any Issuing Bank, the Swingline Lender and
each Lender. 
 (e)    The Credit Agreement is hereby amended adding the underlined words below to paragraph (b) of
Section 2.20 of the Credit Agreement 
 “(b)    With respect to any Defaulting Lender, if any Swingline Exposure or LC
Exposure exists at the time such Lender becomes a Defaulting Lender, all or any part of such Swingline Exposure and LC Exposure shall be reallocated among the Lenders that are Non-Defaulting Revolving Credit
Lenders in accordance with their respective Applicable Percentages but only to the extent that (w) the sum of the Credit Exposures of all Non-Defaulting Lenders plus such Defaulting Lender’s
Swingline Exposure and LC Exposure does not exceed the aggregate amount of all Non-Defaulting Lenders’ Commitments, (x) immediately following the reallocation to a
Non-Defaulting Lender, the Credit Exposure of such Lender does not exceed its Revolving Commitment, (y) the conditions set forth in Section 4.02 are satisfied at such time (and, unless the Parent
shall have otherwise notified the Administrative Agent at such time, the Borrowers are deemed to have hereby represented and warranted that such conditions are satisfied as of such time); and (z) no Default exists. Subject to
Section 11.03(e), no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim
of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.” 

3.    Representations and Warranties. Each Loan Party hereby represents and warrants to the
Administrative Agent and each Lender as follows on each of (i) the Effective Date (as defined below) and (ii) the date of any incurrence of Indebtedness subject to an Acquisition Financing Arrangement: 

 

	 	(a)	immediately before and after giving effect to this Amendment and the Transactions (to the extent consummated on or around the date referred to in (i) or (ii) above, as applicable, and giving effect to the
amendments herein that are effective on such date), all of the representations and warranties set forth in the Credit Agreement are true and correct on and as of such date, as if made on such date, except to the extent that such representations and
warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date (it being understood that references therein to the Credit Agreement shall be deemed
to refer to the Credit Agreement as amended by this Amendment and after giving effect to the amendments set forth herein and the Transactions); 

  
 4 

	 	(b)	the execution, delivery and performance by each Loan Party of this Amendment have been duly authorized by all necessary corporate or other organizational action, as applicable, of such Loan Party; 

 

	 	(c)	this Amendment has been duly executed and delivered by such Loan Party; 

  

	 	(d)	no Default or Event of Default has occurred, is continuing or would exist after giving effect to this Amendment and the Transactions; and 

 

	 	(e)	it is not a EEA Financial Institution (as defined in this Amendment). 

4.    Effect of this Amendment. Except as modified pursuant hereto, no other changes or modifications
to the Credit Agreement or the other Loan Documents are intended or implied and in all other respects the Credit Agreement and the other Loan Documents are hereby specifically ratified, restated and confirmed by all parties hereto as of the
effective date hereof. To the extent of conflict between the terms of this Amendment and the other Loan Documents, the terms of this Amendment shall control. The Credit Agreement and this Amendment shall be read and construed as one agreement. 

5.    Effectiveness. On the date on which the Administrative Agent shall have received executed
signature pages hereof delivered by facsimile transmission or electronic mail (in “.pdf” or similar format) from each of the Parent, the Borrowers and the Administrative Agent (following the consent of the Required Lenders) (the
“Effective Date”), this Amendment shall become effective. 
 6.    Further
Assurances. The parties hereto shall execute and deliver such additional documents and take such additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment. 

7.    Loan document. This Amendment shall be a Loan Document. 

8.    Binding Effect. This Amendment shall be binding upon and inure to the benefit of each of the
parties hereto and their respective successors and assigns. 
 9.    Severability. Any provisions
of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

10.    Reference to the Effect on the Loan Documents. Upon the effectiveness of this Amendment,
(a) each reference in the Credit Agreement to this “Agreement,” “hereunder,” “hereof,” “herein” or words of similar import and (b) each reference in any other Loan Document to “the Credit
Agreement”, shall mean and be a reference to the Credit Agreement as amended by this Amendment. 

11.    Headings. The headings listed herein are for convenience only and do not constitute matters to
be construed in interpreting this Amendment. 

  
 5 

 12.    Counterparts; Electronic Signatures. This
Amendment may be executed by one or more parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page
of this Amendment by facsimile transmission or electronic mail (in “.pdf” or similar format) shall be effective as delivery of a manually executed counterpart hereof. 

13.    Governing Law; Jurisdiction; Consent to Service of Process. 

 

	 	(a)	This Amendment and the rights and obligations of the parties under this Amendment shall be governed by, and construed and interpreted in accordance with, the law of the State of New York without regard to conflict of
law principles that would result in the application of any law other than the law of the State of New York. 

  

	 	(b)	Each party hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United
States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Amendment, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such federal court. To the extent that
any Loan Party has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect
to itself or its property, such Loan Party hereby irrevocably waives such immunity in respect of its obligations under this Amendment. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and
may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Amendment shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding
relating to this Amendment against any Borrower or the Guarantor or any of their respective properties in the courts of any jurisdiction to enforce a judgment obtained in accordance with this Section 13. 

 

	 	(c)	Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Amendment in any court referred to in paragraph (b) of this Section 13. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court. 

  

	 	(d)	 Each party to this Amendment irrevocably consents to service of process in the manner provided for notices in
Section 11.01 of the Credit Agreement. In addition, each Loan Party (other than Teva USA) hereby irrevocably designates, appoints and empowers TEVA PHARMACEUTICALS USA, INC., a Delaware corporation, the principal office of which is at
1090 Horsham Road, North Wales, Pennsylvania, United States of 

  
 6 

	 	
America (the “Process Agent”), in the case of any suit, action or proceeding brought in the United States as its designee, appointee and agent to receive, accept and acknowledge
for and on its behalf, and in respect of its property, service of any kind and all legal process, summons, notices and documents that may be served in any action or proceeding arising out of or in connection with this Amendment or any other Loan
Document. By executing this Amendment, Teva USA hereby irrevocably accepts such designation, appointment and agency, which shall remain in full force and effect until such time as Teva USA ceases to be a Borrower under the Credit Agreement (at which
time each Loan Party shall designate a replacement Process Agent satisfactory to the Administrative Agent (and deliver the appropriate documentation in respect thereof as reasonably requested by the Administrative Agent)). Such service may be made
by mailing (by registered or certified mail, postage prepaid) or delivering a copy of such process to such Person in care of the Process Agent at the Process Agent’s above address, and such Person hereby irrevocably authorizes and directs the
Process Agent to accept such service on its behalf. As an alternative method of service, each Loan Party irrevocably consents to the service of any and all process in any such action or proceeding by the mailing (by registered or certified mail,
postage prepaid) of copies of such process to the Process Agent or such Person at its address specified in Section 11.01 of the Credit Agreement. Nothing in this Amendment will affect the right of any party to this Amendment to serve process in
any other manner permitted by law. 

 [Remainder of this page left intentionally blank] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the day and year first above written. 
  

					
	 TEVA PHARMACEUTICAL INDUSTRIES LIMITED

		
	By:	 	 /s/ Eyal Desheh

		 	Name:  	 	Eyal Desheh
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer
		
	By:	 	 /s/ Eyal Rubin

		 	Name:	 	Eyal Rubin
		 	Title:	 	VP, Corporate Treasurer

 [Signature page to Revolving Credit Agreement Amendment Agreement] 

 
					
	TEVA PHARMACEUTICALS USA, INC.
		
	By:	 	 /s/ Deborah Griffin

		 	Name:	 	Deborah A. Griffin
		 	Title:	 	Senior Vice President,
		 		 	Finance and Chief Financial Officer
		
	By:	 	 /s/ Frank V. Kimick

		 	Name:  	 	Frank V. Kimick
		 	Title:	 	Vice President, Finance
		 		 	and North American Treasurer

 [Signature page to Revolving Credit Agreement Amendment Agreement] 

 
					
	 TEVA PHARMACEUTICAL FINANCE NETHERLANDS III B.V.

		
	By:	 	 /s/ R. Koremans

		 	Name:  	 	R. Koremans
		 	Title:	 	CEO & Director
		
	By:	 	 /s/ G. Nazzi

		 	Name:	 	G. Nazzi
		 	Title:	 	Director

 [Signature page to Revolving Credit Agreement Amendment Agreement] 

 
					
	TEVA FINANCE SERVICES II B.V.
		
	By:	 	 /s/ Paul Whitty

		 	Name:	 	Paul Whitty
		 	Title:  	 	General Manager
		
	By:	 	 /s/ David Koch

		 	Name:	 	David Koch
		 	Title:	 	Managing Director

 [Signature page to Revolving Credit Agreement Amendment Agreement] 

 
					
	 TEVA CAPITAL SERVICES SWITZERLAND GMBH

		
	By:	 	 /s/ Paul Whitty

		 	Name:	 	Paul Whitty
		 	Title:	 	General Manager
		
	By:	 	 /s/ David Koch

		 	Name:  	 	David Koch
		 	Title:	 	President of the Managing Officers

 [Signature page to Revolving Credit Agreement Amendment Agreement] 

 
					
	CITIBANK, N.A., as Administrative Agent
		
	By:	 	  

		 	Name:  	 	
		 	Title:	 	

 [Signature page to Revolving Credit Agreement Amendment Agreement]

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