Document:

EX-10.33

 Exhibit 10.33 
  

 
 February 21, 2016 

PRIVATE & CONFIDENTIAL 
 To:
Hafrun Fridriksdottir 
  

	Re:	Clarification Regarding your Outstanding and Unvested Cash Incentive Awards 

 Dear Hafrun, 

We are pleased to inform you that further to the offer letter provided to you, Teva have decided to enhance the assumption of your outstanding and unvested
ACT-FRX—“Merger Success Award” beyond the original commitment under the purchase agreement with Allergan, according to the details set forth in this letter. Your outstanding and
unvested ACT-AGN—“Transformation Incentive Plan” will be assumed according to the original commitment under the purchase agreement with Allergan. 

ACT-FRX—“Merger Success Award” 

This performance-based award was for a target amount of $1 million, divided into 50% that was based on Allergan’s achievement of specified cost
savings targets and 50% that was based on Allergan’s achievement of specified total shareholder return targets. 
 We have decided to accelerate the
payment and increase the amount of this component beyond our original commitment under the purchase agreement with Allergan as set forth: 
 Teva will pay
you the cost-saving component based on the performance target amount, multiplied by 190%, i.e., an amount of $950,000. The 190% multiplier was calculated and approved by Allergan’s compensation committee and defined as the final
performance achievement of the cost saving component for the MSA awards. This amount will be paid as soon as practicably possible following the closing of the acquisition. 

Teva will pay you the TSR component based on the higher of the (i) performance target amount, and (ii) the total shareholder return as of the
closing date. This amount will be paid in your monthly salary following the first anniversary of the closing of the acquisition. 
 ACT-AGN—“Transformation Incentive Plan” 
 Teva will pay you the performance target amount of this
award, i.e., an amount of $1 million. This amount will be paid according to the originally planned vesting schedule: 50% at December 31, 2018, and 50% at December 31, 2019. Payment will be made in your monthly
salary following each of these dates. 
 If you receive your payments in currencies other than the U.S. dollar, your payments will be converted to the
relevant currency based on the exchange rate at the date of payment. 
 The abovementioned cash incentive awards shall continue to have, and shall be subject
to, the same terms and conditions, including any time-vesting conditions, as applied to the corresponding Allergan cash incentive award immediately prior to the closing, unless otherwise specified herein. 

This letter is subject to Teva’s consummation of the Actavis Generics transaction. 

All payments are subject to your continued employment with Teva on the date of payment. 

We appreciate your commitment and support of Teva’s growth and success, and are certain of the many great things we can achieve together. 

Kind Regards, 
 /s/ Mark Sabag 

Mark Sabag 
 Group EVP, 

Human ResourcesEX-10.34

 Exhibit 10.34 
  

 
 December 1, 2016 

PRIVATE & CONFIDENTIAL 

To: Hafrun Fridriksdottir 
 Dear Hafrun, 

At Teva, we recognize that our most valuable assets are our employees and leaders and that our employees and leaders are essential to our past and future
success. I am writing you this letter to assure you that you are a highly valued leader and that we are looking forward to your continued contribution to Teva. To encourage your continued employment with Teva, you have been selected to receive a
retention bonus and equity grant in accordance with the terms of this letter. 
 Retention Bonus 

The amount of your retention bonus is $750,000, less all legally required deductions and tax withholdings as well as any other voluntary deductions and
withholdings authorized by you. Teva will pay you your retention bonus in the amounts and on the first payroll date following the payment dates set forth below, subject to your continued employment with Teva through each applicable payment date.

  

					
	 Payment Date
	  	Retention
Bonus	 
	 January 2019
	  	$	187,500	 
	 January 2019
	  	$	562,500	 

 If your employment with Teva terminates prior to any payment date for any reason, then you will not be entitled to any
additional retention bonus (and the retention bonus will terminate and be forfeited). 
 Equity Grant 

You will receive an equity grant with a total target fair market value of $750,000 as of November 30th
2016 (the “Grant Date”), subject to the terms and conditions of Teva’s 2015 Long-Term Equity-Based Incentive Plan (including any applicable sub-plans and the terms of the award agreement which
may contain additional terms and conditions) (the “2015 Plan”), as follows: (i) 50% of the total target value will be granted in the form of options to purchase Teva shares, at an exercise price equal to the fair market value
of Teva’s shares on the Grant Date, based on the Black-Scholes value on the Grant Date (the “Options”) and (ii) 50% of the total target value will be granted in the form of restricted stock units (the
“RSUs”) based on the fair value of Teva’s shares on the Grant Date, in each case, in accordance with the terms of the 2015 Plan and the resolutions of Teva’s Human Resources and Compensation Committee. Subject to
your continued employment with Teva through each applicable vesting date, 25% of the Options and RSUs will vest on the second anniversary of the Grant Date and 75% will vest on the third anniversary of the Grant Date. 

 Other Terms 

Your retention bonus and equity grant will be in addition to (and will not be in lieu of) any annual bonus or other incentive compensation amounts you may
otherwise be entitled to receive from Teva and will not be taken into account in computing the amount of salary or compensation to determine any bonus, retirement, or other benefit under any Teva benefit plan or arrangement, unless such plan or
arrangement expressly provides otherwise. 
 You will not have any right to transfer, assign, pledge, alienate or create a lien, whether voluntary or
involuntary, or by operation of law, upon the retention bonus or equity grant, and any attempt to transfer, assign, pledge, alienate or create a lien shall be null and void ab initio and of no force and effect. The retention bonus is unfunded and
unsecured and payable out of the general funds of Teva as and when amounts are payable hereunder. Nothing in this letter is intended to suggest any guaranteed period of continued employment and your employment will at all times continue to be
terminable by you or Teva. 
 You understand and agree that because Teva is extending these retention bonuses and equity grants to only a few individuals,
you will keep this letter strictly confidential at all times and will not disclose the terms of this letter to anyone (other than to your immediate family members or your personal tax and legal advisors, each of whom will be instructed by you and
agree to keep the terms of this letter strictly confidential). 
 I appreciate your commitment and support of Teva’s growth and success. 

 

	
	Kind Regards,
	
	/s/ Erez Vigodman
	 Erez Vigodman
 President and
CEO

  
 2EX-10.35

 Exhibit 10.35 

RETENTION BONUS AGREEMENT 

This Retention Bonus Agreement (“Agreement’’) is effective as of November 7, 2016 (“Effective Date”), by and
between Hafrun Fridriksdottir (“Employee”) and Teva Pharmaceuticals USA, Inc. (“Teva” or “Company”). 

RECITALS 
  

	 	A.	The Employee presently is an at-will employee of Teva. 

  

	 	B.	Teva has determined that it is in the best interests of the Company to assure that the Company will have continued service of the Employee in Employee’s current position. 

 

	 	C.	Teva, subject to the terms and conditions set forth below, will pay a retention bonus to the Employee. 

AGREEMENT 
 In
consideration of the mutual covenants herein contained, and as an additional inducement to Employee to continue his employment with the Company, the parties agree as follows: 
  

	 	1.	Terms of Employment. The Company and Employee agree that Employee’s employment is at-will, and that the employment relationship may be terminated by either party at
any time, with or without cause, subject to the terms of this Agreement. The Company and Employee further agree that neither this Agreement nor receipt of the Retention Bonus constitute a contract for a definite term of employment or a guarantee of
employment, or alter in any way Employee’s status as an at-will employee of Teva. 

  

	 	2.	Retention Bonus. The Retention Bonus available to Employee is $300,000.00 (subject to Section 9(e) below and all other applicable deductions), which shall be paid 50% in March of 2018 and 50% in March of
2019 on the same day as payments under the Teva Bonus Plan are paid, the (“Payment Dates”), provided Employee remains a Teva employee in good standing through Payment Date and otherwise satisfies the terms and conditions of this Agreement.

  

	 	3.	Employment Termination; Voluntary Transfer. 

  

	 	a)	Involuntary Termination. If Employee’s employment is terminated as a result of Involuntary Termination, then Employee shall be entitled to receive a prorated portion of the Retention Bonus available to him
should he have remained employed until the Payment Date. The prorated portion will be calculated based on the actual termination date plus one added year of service. 

  

			
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	 	b)	Voluntary Resignation. If Employee voluntary resigns his Teva employment on or before each Payment Date, Employee shall not be entitled to the unpaid Retention Bonus. The Employee shall receive only the
compensation earned by the Employee through the date of Employee’s termination of employment. 

  

	 	c)	Termination for Cause. If Employee is terminated for Cause on or before the Payment Date, then Employee shall not be entitled to receive the Retention Bonus. 

 

	 	d)	Disability; Death. If the Company terminates Employee’s employment due to Employee’s Disability or Death on or before the Payment Date, Employee shall be entitled to receive a pro-rated Retention Bonus and thereafter will be ineligible for further payments pursuant to this Agreement. 

  

	 	4.	Definition of Terms. 

  

	 	a)	“Involuntary Termination” shall mean the termination of Employee’s employment with the Company without Cause (and not as a result of the Employee’s Death or Disability) or any of the
following: 

  

	 	i.	Employee’s resignation within sixty (60) days, without Employee’s express written consent, after the relocation of Employee to a facility or a location more than fifty (50) miles from Employee’s
then present location; or 

  

	 	ii.	The termination of Employee’s job duties due to business necessity. 

  

	 	b)	A termination for “Cause” occurs if Employee’s employment is terminated for any of the following reasons: 

  

	 	i.	Employee’s theft, dishonesty, misconduct or intentional falsification of any employment or Company records; 

  

	 	ii.	Employee’s intentional and improper disclosure or use of the Company’s confidential or proprietary information; 

  

	 	iii.	Any action by Employee that has a material detrimental effect on the Company’s reputation or business; 

  

	 	iv.	Employee’s failure or inability to perform any assigned duty reasonably expected of a person holding Employee’s position after written notice from the Company to Employee of, and a reasonable opportunity to
cure, such failure or inability; or 

  

			
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	 	v.	Employee’s conviction (including any plea of guilty or nolo contendere) for any criminal act that impairs Employee’s ability to perform her duties for the Company. 

 

	 	c)	“Disability” shall mean that Employee is unable to perform her duties as an employee of the Company as the result of her incapacity due to physical or mental impairment for 120 days (not necessarily
consecutive) in any one (1) year period. 

  

	 	5.	Deadline for Acceptance of Offer. If Employee elects to accept this offer, Employee must sign and return this Agreement to Daniel Lawlor, Teva Pharmaceuticals USA, Inc., 1090 Horsham Road North Wales, PA 19454,
within one (1) calendar week (i.e., seven (7) calendar days) from Employee’s receipt of this Agreement. 

  

	 	6.	Effect of Retention Bonus on Other Benefits. The payment of the Retention Bonus shall be treated as “Eligible Earnings” under the various Teva benefit programs, in the same manner that the Annual Bonus
is treated under these programs, and shall not effect positively or negatively the computation of Employee’s “Bonus Amount,” Employee’s “Base Salary” (as that term is defined in the applicable Teva severance plan),
and/or the determination of any payments Employee may be entitled to under any Teva severance plan. 

  

	 	7.	Notice. 

  

	 	a)	General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or
certified mail, return receipt requested and postage prepaid. In the case of Employee, mailed notices shall be addressed to him or her at the home address which he or she most recently communicated to the Company in writing. In the case of the
Company, mailed notices shall be addressed to Lesley Billow, Teva Pharmaceuticals USA, Inc., 1090 Horsham Road, North Wales, PA 19454. 

  

	 	b)	Notice of Termination. Any employment termination by the Company for Cause or by the Employee as a result of a Voluntary Resignation or an Involuntary Termination shall be communicated by a notice of termination
to the other party hereto given in accordance with this Paragraph 7. Such notice indicate the specific termination provision in this Agreement relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis
for termination under the provision so indicated, and shall specify the termination date. 

  

			
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	 	8.	Confidentiality. Employee is required to keep confidential and may not disclose to any third party, other than Employee’s spouse, attorney, or tax advisor, or as may be required by law or any court order,
the fact that Employee has been offered the Retention Bonus or any provision of this Agreement, unless Employee received the prior written consent of the Company to make such a disclosure and such persons agree to keep such information confidential
and comply with the terms of this Paragraph. If Employee violates this Paragraph 8, the Retention Bonus will not be paid to Employee. Teva reserves the right to seek any and all other legal remedies available to it. 

 

	 	9.	Miscellaneous Provisions. 

  

	 	a)	Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Employee and by an authorized officer of the
Company (other than Employee). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same
condition or provision at another time. 

  

	 	b)	Choice of Law. The validity, interpretation, construction, and performance of this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania. 

 

	 	c)	Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force
and effect. 

  

	 	d)	No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of
law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void. 

 

	 	e)	Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes, unless deferred in accordance with provisions of the Teva Deferred
Compensation Plan. 

  

	 	f)	Assignment by Company. The Company may assign its rights under this Agreement to an affiliate, and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company.

  

			
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	 	g)	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 

 

	 	h)	Prior Agreements. This Agreement shall supersede all prior arrangements whether written or oral, and understandings, regarding the subject matter of this Agreement. 

IN WITNESS WHEREOF, each of the parties has executed this Retention Bonus Agreement, intending to be legally bound, as of the day and year
first above written. 
  

					
			
	 /s/ Hafrun Fridriksdottir
	  		  	  

	Hafrun Fridriksdottir	  		  	Date
	SVP & President,	  		  	
	Global Generics R&D	  		  	
	 (Employee ID 1954552)
  
	  		  	
			
	 /s/ Daniel Lawlor
	  		  	  

	Daniel Lawlor	  		  	Date
	SVP, Human Resources & GGM HRBP	  		  	
	Teva Pharmaceuticals USA, Inc.	  		  	

  

			
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