Document:

Exhibit 10.18(S-1) 

 

CONFIDENTIAL

CONFIDENTIAL
TREATMENT REQUESTED. CONFIDENTIAL

PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE

BEEN SEPARATELY FILED WITH THE COMMISSION

ADMINISTRATIVE SERVICES AND
SUPPORT AGREEMENT

          THIS
AGREEMENT is entered into as of the 14th day of July,
2008 (the “Effective Date”) between CFO Medical Services, Inc. (“CFO”), of 1500
Pleasant Valley Way, Suite 301, West Orange, NJ 07052 and Steven G. Robbins,
M.D. (“Physician”) of 121 Overleigh Road, Bernardsville, NJ 07924.

          WHEREAS,
a certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of
May 21, 2008, has been
entered into by and among Examworks, Inc. (“ExamWorks”), ExamWorks NJ, LLC, CFO
and certain shareholders of CFO set forth therein, including Physician; and

          WHEREAS,
Physician is duly licensed to practice medicine and is qualified to perform
certain independent medical evaluations (“IMEs” or “Evaluations”), including
medical examinations and/or tests (“Examinations”); the rendering of medical
examination reports (“Reports”); and similar or related services;
(collectively, “Services”), upon or with regard to various persons (“Examinees”) whose medical
condition may be at issue; and

          WHEREAS,
CFO is engaged in the business of, among other things, providing administrative
support and related non-medical services related to the performance by
physicians of the Services for insurance companies, attorneys and other third
parties requesting such Services (“Clients”); and

          WHEREAS,
CFO through its efforts and experience has established a network of Clients; and

          WHEREAS,
CFO is also capable of coordinating the needs of Clients with physicians, such
as Physician, who are qualified and capable of providing the Services and is
willing and able to make available its network of Clients to the Physician, and
the Services of Physician to its network of Clients, subject to the terms and
conditions stated herein; and

          WHEREAS,
the parties, respectively, make the following “Threshold Representations”:
(1) Physicians represents that Physician is engaged in a medical practice
completely independent of CFO; that Physician is a licensed physician
authorized and in good standing to practice medicine in the State(s) of New
York and New Jersey; that Physician either practices alone or as part of a
group, a professional corporation or association, a partnership or limited
liability corporation or university-affiliated medical practice, partnership,
corporation, LLC, or other entity (collectively, “His/Her Group”); that
Physician is board certified as a specialist in orthopedics; and that Physician
has complied with all federal, state or local laws regarding business and
professional permits and licenses, or any other applicable laws or regulations
that may be required to carry out the Services to be performed under this Agreement; (2) CFO represents that CFO
is not engaged in the practice of medicine and will not seek to influence the independent professional medical judgment
of Physician with respect to the performance of the Services by Physician and
that the services rendered by CFO to the Physician hereunder will not in any
way interfere with the physician-patient relationship.

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CONFIDENTIAL

          NOW,
THEREFORE, in reliance on the foregoing representations, incorporated herein by
this reference, CFO and Physician, intending to be legally bound, and in
consideration for the mutual promises set forth herein, the sufficiency of
which is acknowledged, agree to the following terms and conditions:

          1.
NATURE OF RELATIONSHIP. CFO will assist Physician in locating Clients in
need of the Services and will further provide such administrative,
support and related non-medical services necessary or required for the
Physician to perform the Services, including, without limitation, coordinating
the Clients in need of the Services with
Physician and in scheduling Physician to provide the Services to those
Clients who request CFO to assign or schedule a physician to perform the Services
on such Client’s behalf, and Physician agrees to accept such engagements with
Clients as CFO shall make available to
Physician, except such opportunities as Physician specifically declines
in accordance with section 4 of this Agreement. The Physician shall be
compensated in accordance with the fees set forth in Schedule A attached
hereto for Services actually and professionally performed by Physician, which
fees are net of CFO’s compensation for its services and which are subject to
reduction because of Physician’s failure to fulfill the Service Requirements
set forth on Schedule B attached hereto. No treatment of any type shall be
rendered (nor, for example, shall prescriptions be written or medication
dispensed by Physician) under the terms of this Agreement. Physician shall not
assign to any other physician his/her/its obligation to render services to an
Examinee, without the prior written approval of CFO.

          CONFLICT.
If Physician or anyone in his/her Group is or has already been the
treating physician of the Examinee or otherwise previously had a
physician-patient relationship with the Examinee, Physician agrees that a conflict may exist potentially
disqualifying Physician from performing the Services; and Physician will so
notify CFO within forty-eight
(48) hours of being requested to perform the proposed Examination and before
performing any of the Services on the Examinee as scheduled by CFO. Upon receiving notice of such
conflict, CFO, upon its sole
discretion, may reschedule the Examination with another physician.

          GOOD
STANDING. Physician agrees that he or she is qualified to perform the
Services and is duly licensed, board-certified, and in good standing in the
jurisdiction where, and at the time, the Services are being rendered by
Physician.

          WORKLOAD/AVAILABILITY.
(a) Except as set forth in Section 5(d) below, Physician
understands that CFO makes no
representation or guarantee concerning the total number of Examinations or
amount of Services that Physician may be scheduled
to perform pursuant to this Agreement. Prior to Physician being
requested to perform an Examination, CFO will contact Physician and determine Physician’s availability to perform such
Examination and to render a report within the time in which the Client wishes
the Services provided. If Physician is available, CFO may schedule the
Physician to perform the Services on the Examinee. Upon receipt of a request by
CFO to perform an Evaluation, Physician may
either accept, or, upon as much notice to CFO as is possible (but not less than fourteen (14) calendar days notice, absent an extreme emergency), reject the request. In the absence of a timely written rejection, it will be
assumed that the request has been
accepted.

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CONFIDENTIAL

                    Once
the request has been accepted by Physician, CFO will then coordinate the
appointment. Should Physician become unavailable, Physician will immediately
provide CFO with notice of his/her unavailability. The minimum notice required
of Physician to CFO under these circumstances is fourteen (14) calendar days
unless the Client has given CFO less than this amount of time to perform an Examination, in which case the
maximum possible notice of Physician’s unavailability
shall be provided by Physician to CFQ. Cancellations on shorter notice will be permitted in the case of an extreme emergency.
Cancellations without adequate notice
or explanation may disqualify Physician from being scheduled to perform future Examinations, other
than “Addendum” or other follow-up services relating to Examinations previously
performed, and the cancellation of this Agreement by CFO.

                    Physician
will promptly notify CFO of any problems with (i) Examinee compliance,
(ii) Examinee “no-shows”, or (iii) Physician’s non-receipt of necessary records. Following the
scheduled appointment, Physician shall forward to CFO a completed “Appointment
Result Form” which will be supplied to Physician prior to the Examination.

                    Notwithstanding
the above, if
Physician has performed an Examination,
or provided other Services, Physician shall make himself/herself available, as
requested by Client(s), for
“Addendums”, depositions, court
appearances and such other Services as may be requested by the Client. This
subparagraph 4(d) shall survive the expiration or termination of this
Agreement in perpetuity.

          FEES.
(b) CFO shall bill to and collect from Clients for the services
rendered to them and will remit
to the Physician the amount set forth on the attached Schedule A for each such Service
provided by Physician to the Client, as such fees may be reduced as a result of Physician’s failure to meet the
Service Requirements set forth in Schedule B attached hereto. Physician shall submit such documentation to CFO
as is necessary for CFO to bill the Clients for Services performed by the
Physician.

                    As
CFO is the party authorized to bill the Clients for Services rendered by the
Physician under this Agreement, Physician shall not, under any circumstance,
request, accept or collect payment from the Client or the Examinee(s). A
violation of this subparagraph 5(b) shall be deemed a material breach for
purposes of Paragraph 23(c)(iii).

                    Physician
shall be exclusively responsible for the payment of his/her employees, subcontractors,
and for any overhead costs incurred in connection with the provision of the Services, and shall
indemnify and hold CFO harmless for any claims of any type by any of his/hers employees or subcontractors relating
to or arising from this Agreement in any
way, directly or indirectly.

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CONFIDENTIAL

                    Notwithstanding
anything to the contrary herein, subject to the availability of Physician as
determined in accordance
with Section 4 above, during each
Term Year (as defined below) CFO agrees to use commercially reasonable efforts to assign to Physician, and Physician agrees to
accept, such number of Services as to enable
Physician to generate fees to be disbursed to Physician by CFO equal to not less than the Target Fee Amount (as defined below). The parties agree and acknowledge that
the fees to be disbursed to Physician during
each Term Year shall be not less than [CONFIDENTIAL MATERIAL REDACTED
AND FILED SEPARATELY WITH THE COMMISSION] percent ([CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE
COMMISSION]%) of the standard
fees invoiced to CFO’s Clients for legal
work (such legal work to include, but not
be limited to, phone consultations, court appearances, attorney conferences, video testimony, discovery
depositions, arbitrations, and physician preparation time related to the foregoing) performed by Physician and not less than [CONFIDENTIAL MATERIAL
REDACTED AND FILED SEPARATELY WITH THE COMMISSION] percent ([CONFIDENTIAL
MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION]%) of the standard fees invoiced to CFO’s Clients for non-legal work performed by Physician (each such percentage, a “Minimum Fee Percentage”), in each case
as further described on Schedule A
attached hereto. For purposes of this
Section 5(d), “Target Fee
Amount” shall mean [CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY
WITH THE COMMISSION] Dollars ($[CONFIDENTIAL
MATERIAL REDACTED AND FILED SEPARATELY WITH THE COMMISSION]), which shall be equal to [CONFIDENTIAL MATERIAL REDACTED AND
FILED SEPARATELY WITH THE COMMISSION]
percent ([CONFIDENTIAL MATERIAL REDACTED AND FILED SEPARATELY WITH THE
COMMISSION]%) of the annual average of the
standard fees invoiced to CFO’s
Clients for services rendered by Physician during the two calendar years ended December 31, 2007.
Amounts with respect to Services performed
by Physician shall be disbursed by CFO to Physician on a monthly basis.

          MODIFICATION
OF SCHEDULES. Schedules A and B attached hereto may be changed by from
time to time by mutual agreement of the parties. In no event, however, shall
the fees disbursable to Physician during each Term Year under Section 5(d)
for legal work and non-legal work performed by Physician be less than the
applicable Minimum Fee Percentage. Changes to Schedules A and B shall not
apply to any Services which Physician has begun to perform but which Physician
has not yet completed.

          COSTS
OF PERFORMANCE. (c) Physician
shall be responsible for all costs associated with the performance of
the Services (e.g., professional liability insurance, office space,) other than
those items and services which CFO is obligated to provide under this
Agreement. Without limiting the foregoing, Physician shall utilize, without
cost or charge to CFO or any other party, Physician’s own designated office
space, medical or other equipment (including without limitation medical
equipment needed for the Examinations), medical or office supplies, and
clerical and medical staff, in support of Physician’s obligations under this
Agreement.

                    For
the Services performed by Physician at facilities provided by CFO as a
convenience, CFO will not charge Physician for basic office space, equipment,
and clerical and medical staff support that is present in any event. Unless
otherwise specified, Physician is responsible for all of its own expenses
incurred in providing Services at facilities provided by CFO; including, but
not limited to, the expense of traveling to and from said facilities to
accomplish the Services designated under this Agreement.

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                    Unless
authorized by the Client in advance of, during or following an
Examination, which Physician must confirm with CFO, (i) CFO will not
reimburse Physician for any third-party charges of any type; and (ii) any third-party
charges incurred for or arising out of Physician’s Services hereunder, or for
tests ordered by Physician, will be Physician’s sole financial responsibility.
To obtain such authorization, Physician must promptly communicate with CFO,
which in turn will seek Client’s authorization.

          REQUIRED
INSURANCE. Physician shall throughout the duration of this Agreement,
(a) maintain, and provide to CFO proof of, insurance equal to the greater
of [1] the insurance required to be maintained by Physician under applicable
laws and regulations and [2] (i) malpractice insurance of not less
than $1,000,000 per occurrence and annual aggregate of not less than
$3,000,000; (ii) commercial liability insurance naming CFO as an
additional insured of not less than $1,000,000 per occurrence and annual
aggregate of not less than $3,000,000; and (iii) workers’ compensation
insurance ([1] and [2], as applicable, are referred to herein as the
“Insurance”); and (b) deliver to CFO upon demand, certificates of
insurance evidencing that the Insurance is maintained in full force and effect.
Any failure by Physician to maintain and provide proof of the Insurance in
accordance with this Paragraph 8 and/or to deliver the aforesaid certificates
of insurance shall be deemed to constitute a material breach of this Agreement.

          INDEMNIFICATION/REMEDIES.
(a) Physician covenants and agrees to indemnify and hold harmless CFO,
Clients, and all officers, directors, shareholders, members, employees, agents
and representatives of CFO and the Clients (collectively, the “CFO Group”),
from any against all liabilities, losses, claims, damages, causes of action,
costs and expenses of any kind (including, without limitation, reasonable
attorneys’ fees and related expenses) which result from, relate to, or arise in
any way from (directly or indirectly) (i) negligent acts or omissions in
connection with Physician’s performance under this Agreement, (ii) any
breach by Physician of the terms and conditions of this Agreement, and/or
(iii) any negligence, intentional wrongdoing or bad faith on the part of
Physician and/or any individual providing services under this Agreement on
behalf of Physician, whether such individual is an employee of Physician or
independent contractor. In the event any action, suit or proceeding is brought
against any member of the CFO Group and Physician is required to provide
indemnification pursuant to and in accordance with this Paragraph 9, then
Physician shall, at the option of Physician, either (i) engage attorneys approved
by CFO or its insurance carrier to defend such member or members, as the case
may be, of the CFO Group, or (ii) reimburse such member or members, as the
case may be, of the CFO Group for the reasonable fees and expenses of legal
counsel engaged directly by such member or members, as the case may be, of the CFO Group.
In the event that any penalties are imposed on any member of the CFO Group by
an appropriate regulatory body as the result of the negligence, wrongdoing or
bad faith of Physician, Physician shall indemnity the CFO Group for any
penalties imposed on any member or members, as the case may be, of the CFO
Group. Physician acknowledges and agrees that monetary damages would be
inadequate to compensate CFO for any breach or threatened breach by Physician
of its covenants and agreements set forth in this Agreement. Accordingly,
Physician further acknowledges and agrees that any such breach or threatened
breach will cause irreparable injury to CFO and that, in addition to any other
remedies that may be available, in law, in equity or otherwise, CFO shall be
entitled to obtain injunctive relief, including without limitation, a
preliminary injunction and/or temporary restraining order, against the breach
or threatened breach of the provisions of this Agreement or the continuation of
any such breach,

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CONFIDENTIAL

          EXAMINATION
REPORTS. (d) Physician agrees and acknowledges that Physician is
solely responsible for evaluations, conclusions and narrative material set
forth in any Report created pursuant to this Agreement; and that Physician
functions as an independent professional making all determinations and
assessments in accordance with Physician’s own medical judgment and expertise.

                    Notwithstanding
the foregoing, it during an examination of an Examinee, Physician should
discover a condition that is
life-threatening or poses a serious threat to health, Physician shall
advise the Examinee to promptly seek examination by a licensed medical
professional and/or facility for the condition discovered and shall follow up
with the Examinee to ensure that he or she has sought appropriate medical care
and treatment concerning the condition so discovered. Nothing stated herein
shall be construed to create a physician-patient relationship.

                    Physician
will promptly, and within the timelines described on Schedule B attached
hereto, complete and forward to CFO all required Reports, so that CFO may provide
such Reports, on Physician’s behalf, to the Client(s).

                    CFO
shall provide Physician with general training, instruction and education
concerning the form, elements, scope and other aspects of the Reports which the
Clients require of Physician hereunder. Nothing in this section however, shall
be construed to obligate or CFO to prepare, modify, alter or otherwise
influence the content of an individual Report or otherwise affect the
Physician’s independent professional opinion, evaluation or examination of a
patient referred to Physician by a Client or by CFO on behalf of a Client.

          CONDUCT.
The parties shall conduct
themselves, at all times, in accordance with the highest standards of professional conduct and responsibility. All services provided by
Physician shall be provided in strict conformance with the currently approved medical methods and ethical
practices of the medical profession.

          EXAMINEE
AUTHORIZATION. Physician and CFO anticipate that an Examinee shall have provided the Client
with an authorization permitting the Client to release confidential medical or
health care information to CFO and/or Physician and this authorization will be
provided to CFO by the Client in compliance with federal and state laws and
regulations. Prior to providing Services to Examinee, Physician must secure
from the Examinee an Authorization, in the form of Schedule C attached
hereto, permitting Physician and CFO to release Physician’s Report to the
Client.

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          INDEPENDENT CONTRACTOR.

                    The
parties agree and acknowledge that the business of CFO is that of arranging and facilitating (by, for
example, providing marketing, contracting, scheduling, report transcription,
office examination space and equipment, billing and other necessary
administrative and non-medical support services) for licensed physicians such
as Physician or other qualified medical personnel to perform independent
medical examinations and related services (including, without limitation,
physical examinations, review of medical records, radiology reviews, appearing
and testifying as expert witness in legal proceedings, assisting in legal
discovery and medical consulting) for insurance companies, attorneys and other
third parties to examine, validate, independently review and evaluate, as the
case may be, workers compensation, liability, personal injury and disability
claims of persons. The practice of medicine shall always be specifically
reserved to and shall be performed only by licensed physicians such as
Physician and is specifically not part of CFO’s business.

                    The
parties are independent contractors to each other under this Agreement and each
recognize and acknowledge that there is no employer/employee or principal/agent
relationship between Physician and CFO and that this is not a joint venture,
partnership or the like between Physician and CFO. Nothing contained herein is
intended nor shall be construed to allow CFO either to have or to exercise
control, direction or supervision over the professional medical judgment,
manner or methods by which Physician performs medical services under this
Agreement; provided, however, that the Services to be provided hereunder by
Physician shall be provided in a manner consistent with the standards governing
such services and the provisions of this Agreement.

                    Except
as may be required by taxing authorities for backup withholding tax, CFO will
not withhold from any amounts to be paid over to Physician hereunder any of the
following: FICA (Social Security), federal unemployment insurance, state or federal
income taxes, state disability insurance, stare unemployment insurance,
workers’ compensation insurance charges or premiums, or any other withholding
pursuant to any law or requirement of any governmental body relating to
Physician (“Withholdings”). Physician shall not be entitled to any benefits
afforded to employees of CFO (“Benefits”). Each and every one of such
Withholdings and Benefits, if any, are the sole responsibility of Physician.
Physician shall indemnify and hold CFO harmless from and against any and all
liability to any federal or state authority relating to the withholding and
benefits, attributed solely to any income paid to Physician pursuant to this
Agreement. In the event the United States Internal Revenue Services should
question or challenge the independent contractor status of the parties under
this Agreement, the parties hereto mutually agree that both parties shall have
the right to participate in any discussion or negotiation occurring with the
Internal Revenue Services, even if said party did not initiate such discussions
or negotiations and each shall notify the other, in advance, of any planned
meeting or discussion.

                    Physician
and CFO shall each be solely and independently responsible for (i) their
own employment obligations, and (ii) the acts or omissions of their
employees.

          CONFIDENTIALITY.
(e) Physician
acknowledges and agrees that any and all Reports, records and other
documents received or generated in connection with this Agreement and the Services
performed hereunder, (i) shall remain and be treated as the confidential
property of the Client (subject to laws relating to medical records, as
applicable), and (ii) shall not be used at any time by Physician in any
way adverse to CFO or the Client’s interests. Any such information will not be
used by Physician for any purpose other than as expressly set forth in this
Agreement, or disclosed to any other person except: [1] as permitted in
this Agreement or [2] as required by federal, state and local laws and
regulations.

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                    Physician
acknowledges that CFO has proprietary and privacy interests in (i) CFO’s
Client relationship(s) and (ii) CFO’s records and information, including
without limitation CFO’s medical and professional data, computer systems,
pricing, methods of doing business with CFO’s Clients, CFO’s Client contacts,
software, and other confidential information (including without limitation this
Agreement). Physician agrees that any such records or information to which Physician
has had previous access to and shall have access to pursuant to this Agreement
[1] shall remain and be treated at all times as the confidential property
of CFO, and [2] shall not be used at any time by Physician in any way
adverse to CFO’s interests. Any such information will not be used by Physician for any purpose other than as expressly set
forth in this Agreement, or disclosed to any other person except:
[aa] as permitted in this Agreement or [bb] as required by federal, state and local laws and regulations.

                    The
parties agree that all aspects of this Agreement are confidential and that the terms shall
not be disclosed to any person, firm or
entity whatsoever except as may be required by law, by a Court, or as
necessary to carry out the terms of this Agreement.

                    This
Paragraph 14 shall survive the termination or expiration of this Agreement
for any reason.

          HIPAA.
(f) Each party covenants and agrees to maintain the confidentiality of all patient medical records
and patient health information in compliance with applicable federal,
state and local laws and regulations, including
but not limited to, the requirements of the Health Insurance Portability and
Accountability Act of 1996 (“HIPAA”) and its accompanying regulations.

                    Physician
agrees that if CFO, within its sole discretion, determines that it qualifies as
a “business associate” of CFO’s clients, as defined by the HIPAA Privacy Rules
(45 C.F.R. §164.500 et
seq.), Physician shall similarly enter into and abide by the terms of the
“HIPAA Addendum” attached hereto as Schedule C.

          USE
OF NAME. Physician agrees that except as needed to perform Services
requested of Physician under the terms of this Agreement, Physician shall not
utilize CFO’s name or the name of any successor or related corporation or
entity, whether owned by CFO in
whole or in part or by any of the Shareholders of CFO in whole or in part. This
Paragraph shall survive the termination or expiration of this Agreement for any
reason.

          NON-COMPETE/NON-SOLICITATION.
(g) In consideration for CFO’s
covenants herein, Physician hereby covenants and agrees that during the term of
this Agreement and for an additional period of two (2) years from the date this
Agreement terminates, Physician shall not, within any State in which CFO or any
entity affiliated with CFO, directly or indirectly, shall have operated during
the term of this Agreement (including but not limited to New Jersey) for the
benefit, financial or otherwise, of Physician (i) solicit business of the
type and nature of the Services provided by Physician under this Agreement,
from, or (ii) perform IMEs for, any of CFO’s Clients. (“Introduction(s)”).

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                    The
Physician agrees that any gross revenues earned by Physician from CFO’s Clients
in violation of this Agreement, net of fees to be paid to Physician under
Section 5 above, will be the property of CFO and will held in trust for
CFO by Physician and that Physician shall be required to pay to CFO any amount
that CFO would have earned or received had such violation not occurred and the
Services been provided in a manner consistent with this Agreement.

                    Physician
will not, during the term of this Agreement and for an additional three years
(3) thereafter, solicit CFO’s employees or medical professionals associated
with CFO for the benefit of either Physician or any other individual or entity.

                    If
a court should hold that any time frame specified herein is unreasonable, the
court may prescribe a duration that is reasonable, and the parties agree to
accept such a determination.

                    Nothing
stated in this paragraph 17 is intended to, nor shall it be construed to, limit
or restrict Physician’s right to treat any patient outside of the context of a
Client’s request that Physician perform an IME or otherwise provide the
Services at the request of, on behalf of or for, a Client.

                    This
Paragraph shall survive the termination or expiration of this Agreement for any
reason.

          NON-DISPARAGEMENT.
The parties agree as of the Effective Date of this Agreement and continuing
thereafter, not to directly or indirectly disparage each other in any way
whatsoever. This Paragraph shall survive the termination or expiration of this Agreement for any
reason.

          BREACH
OF AGREEMENT. In the event of an actual or threatened breach by either
party of Paragraphs 14, 15, 16, 17 or 18 of this Agreement, the breaching
party shall be responsible for all legal fees and costs incurred by the other
party for any legal action brought by it to enforce those provisions.

          NOTIFICATION
OF CHANGE OF STATUS. Physician will promptly notify CFO if
his/her license, or the license of any of the other physicians in his/her
Group, is suspended or revoked,
or if the information on the CFO/IME Provider Application becomes or is
learned to be inaccurate or incomplete, or if a claim of any type is asserted
against Physician by any Examinee(s)
examined by Physician hereunder.

          GOVERNANCE.
This Agreement shall be governed by, and construed, in accordance with the laws
of the State of New Jersey. It shall also be governed by federal and state
regulations relating to the privacy of an Examinee’s health care information,
with which each party represents and warrants that it is and shall remain in
compliance. The parties consent to the filing of an action in, and hereby
personally submit to jurisdiction of, the state or federal courts located in
the State of New Jersey and further agree that such courts shall be exclusive
courts of jurisdiction and venue for any litigation which the parties may file.

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          DISPUTES.
(h) Except as may be
necessary to enforce the provisions of
Paragraphs 14, 15, 16, 17 or 18 by temporary injunction, permanent injunction or other equitable relief, any controversy or claim arising out of, or
relating to, this Agreement or the breach thereof, any dispute between CFO and
Physician relating to or arising from this
Agreement, or any of its covenants, terms or conditions, or its enforcement, validity or
interpretation, such dispute shall be subject to confidential binding
arbitration in lieu of judicial
process. The arbitration shall be conducted exclusively in Livingston or West
Orange, New Jersey, at such location as the parties shall designate within fifteen (15) days of the filing of the
demand for arbitration. Arbitration shall be conducted pursuant to the commercial rules of the American Arbitration Association
(“AAA”); using a mutually-selected (or failing same, AAA-designated) arbitrator
who is knowledgeable and experienced in
the area of providing health care services. The Cost of such proceedings
shall be paid for equally by both parties, except that the
parties shall pay their own attorneys fees, expert fees, and other costs unless otherwise provided in this
Agreement.

                    Notwithstanding
the foregoing, (i) the parties may seek emergent or other judicial relief
to enforce Paragraphs 14, 15, 16, 17 and 18 hereof; and (ii) either
party hereto may seek emergent judicial relief to preserve the status quo
pending arbitration or enjoin an incorrectly venued arbitration. The state and
federal courts of New Jersey sitting in the County of Essex, New Jersey (“NJ
Courts”) shall have exclusive jurisdiction to hear ouch matters.

                    Subject
to the provisions above,
each party irrevocably (i) submits to the personal jurisdiction of
NJ Courts with respect to matters arising out of or relating hereto; (ii) agrees that all claims with respect to
such action or proceeding may be heard and determined in NJ Courts; and
(iii) waives the defense of an inconvenient forum.

                    Any
proceedings to enforce, vacate, modify, enjoin, or otherwise affect any arbitration award or
arbitration proceeding shall be brought exclusively in New Jersey. Once that
arbitration award is reduced to a judicial judgment in New Jersey, any such
judgment may be enforced anywhere in the world by any judicial or other tribunal.
The prevailing party in any action mentioned in this paragraph shall be entitled to costs and reasonable attorney’s fees
incurred (i) in any such action or
proceeding and (ii) in any
further collection efforts.

                    In
the event any provision of this
Agreement is declared void or unenforceable by a NJ Court, the remaining
provisions of this Agreement shall nevertheless
remain in full force and effect.

          TERM.
(i) This Agreement commences on the Effective Date of this Agreement and
will remain in effect for a term of three (3) years (such term, the “Initial
Term” and each such year, a “Term Year”), and will be deemed automatically
renewed from year to year for a “Term Year” unless and until cancelled pursuant
to Paragraph 23(b) or (c) of this Agreement.

                    This
Agreement may be terminated at any time with or without
cause upon not fewer than Sixty (60)
days’ written notice (i) by Physician during the Initial Term and
(ii) upon renewal of the Initial Term, by either party at any time
thereafter.

IC Initials_____________

10

CONFIDENTIAL

                    This
Agreement shall automatically terminate, at the election of CFO, upon
the occurrence of one or more
of the following events: (i) Physician’s license to practice medicine in any jurisdiction is revoked,
suspended or limited for a period in excess of thirty (30) days;
(ii) Physician’s medical staff privileges
at any health care institution are terminated, suspended or limited,
voluntarily or involuntarily, for a period in excess of thirty (30) days;
(iii) Physician’s material breach of any term, covenant or condition of
this Agreement; (iv) Physician’s failure to discharge Physician’s duties
to the reasonable satisfaction of CFO; (v) Physician is found guilty of a
crime of moral turpitude; (vi) Physician’s participation in any dishonest
act involving the assets of CFO, whether or not of a criminal nature; (vii) the involuntary or
voluntary liquidation of CFO, the
appointment of a receiver for CFO, or the assignment of this Agreement for the
benefit of creditors; (viii) the death of Physician; or
(ix) Physician’s inability to work with other independent contractors or
employees of CFO, which inability shall be determined in the sole discretion of
CFO.

                    In
the event this Agreement is terminated by either party for any reason,
Physician agrees, at the election of CFO, (i) to honor all terns and conditions of the
Agreement including, but not limited to, those pertaining to any
Evaluations/Examinations already scheduled and in process prior to notice of
termination, including without limitation the completion of any Report as to
which Examinations or other Services have been performed; and (ii) to
comply with all requests from CFO or CFO’s Client for ‘Addendum(s)’, deposition
testimony, courtroom testimony or other services related thereto as to any
Examinee already scheduled, examined or evaluated that CFO’s Client requests.
Physician shall be paid for such
Services in accordance with the terms of this Agreement by CFO despite the
termination of this Agreement.

          HEADINGS.
The headings of this Agreement shall have no legal significance and are used solely for the
identification of particular paragraphs.

          ENTIRE
AGREEMENT. This Agreement contains the entire agreement and understanding
between the parties, superseding all other writings and all oral discussions,
agreements or negotiations, other than with respect to the Merger Agreement and
any Company Ancillary Documents (as defined in the Merger Agreement).

          MODIFICATION.
This Agreement may only be modified or waived in writing; there shall be no waiver or
modification by conduct.

          NOTICE.
Any notice or other communication by either party to the other shall be
in writing and shall be given, and be deemed to have been given if either
delivered personally or mailed, postage prepaid, registered or certified mail,
addressed as follows;

	
  

 	
  

 
	
 To CFO:

 	
 CFO Medical Services, Inc.

 
	
  

 	
 c/o ExamWorks, Inc., Attn:
 Michael J. Bandit

 
	
  

 	
 1500 Pleasant Valley Way,
 Suite 301

 
	
  

 	
 West Orange, NJ 07052

 
	
  

 	
  

 
	
 To Physician:

 	
 Steven G. Robbins, M.D.

 
	
  

 	
 121 Overleigh Road

 
	
  

 	
 Bernardsville, NJ 07924

 

IC Initials_____________

11

CONFIDENTIAL

          WAIVER.
The failure of a party hereto to insist upon strict adherence to any term of
this Agreement on any occasion shall not be considered a waiver or deprive that
party of the right thereafter to enforce that term or any other term of this
Agreement,

          CONFIDENTIALITY.
The parties hereto agree that all aspects of this Agreement are
confidential and that such terms shall not be disclosed to any person, firm or
entity whatsoever except as may be required by law, by a court, or as necessary
to carry out the terms of this Agreement.

          EXHIBITS
AND/OR SCHEDULES. Each exhibit and/or schedule to this Agreement shall be
considered a part hereof
as if set forth in the body of this Agreement in full.

          COUNTERPART
AS ORIGINAL;
FACSIMILE SIGNATURES. This Agreement may be executed in one or more
counter parts, and each such executed counterpart shall be considered as original. Facsimile signatures shall
be binding and shall be deemed as original signatures.

          SEVERABILITY.
This Agreement is intended to perform in accordance with and only to the
extent permitted by all applicable laws, ordinances, rules and regulations. If
any provision of this Agreement or the application thereof to any person,
entity, or circumstance is found, for any reason or to any extent to be invalid
or unenforceable, the remainder of this Agreement and the application hereof to
any person, entity, or circumstance shall not be affected thereby, but rather
the remainder of this Agreement shall be enforced to the greatest extent
permitted by law.

          INTERPRETATION.
It is specifically understood and agreed by and between the parties that
this Agreement is the result of negotiations between the parties. Accordingly,
it is understood and agreed that all parties shall be deemed to have drawn
these documents and there shall be no negative inference from the language of
this Agreement by any fact finders as against any party.

[SIGNATURE PAGE FOLLOWS]

IC Initials_____________

12

CONFIDENTIAL

          IN
WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date indicated above.

	
  

 	
  

 	
  

 
	
 WITNESS:

 	
  

 	
 PHYSICIAN:

 
	
  

 	
  

 	
  

 
	
 /s/ Greg Decter

 	
  

 	
                      /s/ Steven G. Robbins,
 M.D.

 
	 

 	
  

 	 

 
	
      Name: Greg Decter

 	
  

 	
 Name: Steven G. Robbins, M.D.

 
	
  

 	
  

 	
  

 
	
 ATTEST:

 	
  

 	
 CFO MEDICAL SERVICES, INC.

 
	
  

 	
  

 	
  

 
	
 /s/ Greg Decter

 	
  

 	
                      /s/ Pauline Murano

 
	 

 	
  

 	 

 
	
 Name: Greg Decter

 	
  

 	
 Name: Pauline Murano

 
	
 Title:   VP Operations

 	
  

 	
 Title:   General Manager

 

IC Initials_____________

CONFIDENTIAL

SCHEDULE A

FEES

IC Initials_____________

CONFIDENTIAL

SCHEDULE B

SERVICE REQUIREMENTS

See attached.

IC Initials_____________

CONFIDENTIAL

SERVICE REQUIREMENTS

Physician
understands that CFO has Clients which require his/her Services and that such
Clients have communicated to CFO their minimum requirements with respect to the
performance of the Services. Accordingly, in order to ensure compliance with
the requirements of Clients with respect to the Services to be rendered by
Physician to such Clients, the requirements see forth below
must be satisfied in the performance of Services.

	
  

 	
  

 	
  

 
	
 1.

 	
 Initial Independent
 Medical Examination - the following requirements must be
 met for the initial independent medical evaluation to be considered complete:

 
	
  

 	
  

 
	
  

 	
 A.

 	
 For the purpose of
 clarification of any uncertainties, review the medical records/films and cover letter prior to
 examinee’s visit.

 
	
  

 	
  

 	
  

 
	
  

 	
 B.

 	
 Physician performs the
 evaluation.

 
	
  

 	
  

 	
  

 
	
  

 	
 C.

 	
 Physician agrees to
 contact CFO, which, in turn, may seek the Client’s authorization for payment
 prior to Physician’s performance of or request to perform any diagnostic
 tests. Upon authorization, Physician will arrange or perform all diagnostic
 tests necessary for a complete examination (including establishing
 diagnosis).

 
	
  

 	
  

 	
  

 
	
  

 	
 D.

 	
 Answer every relevant
 question, if any, as communicated to Physician by CFO on behalf of the Client, from the cover letter with substantiated medical evidence.

 
	
  

 	
  

 	
  

 
	
  

 	
 E.

 	
 Complete all required
 forms (if any) provided to Physician on behalf of the Client.

 
	
  

 	
  

 	
  

 
	
  

 	
 F.

 	
 Submit to CFO within
 ten (10) working days of performance of the evaluation, for transmission to
 the Clients, a final, signed medical report, including all requested
 clarifications.

 

Addendum
- An Addendum report is necessary
from Physician when additional
medical records and/or films are received and reviewed by Physician after the
initial evaluation report has been mailed. Physician understands that the
following requirements must be met for the Addendum report to be considered
complete:

	
  

 	
  

 	
  

 
	
  

 	
 A.

 	
 In conjunction with the
 initial report of findings, review the additional medical records/films and cover letter and produce a
 supplemental report.

 
	
  

 	
  

 	
  

 
	
  

 	
 B.

 	
 Submit to CFO within
 ten (10) working days, for transmission to the client, the final, signed
 Addendum report including all requested clarifications,

 

Independent
Medical Record Review Report - A medical record review report is produced by Physician when medical
records are received and reviewed by Physician without performing a physical
medical evaluation of the claimant. Physician understands that the following
requirements must be met for the medical record review report to be considered
complete:

IC Initials_____________

1

CONFIDENTIAL

	
  

 	
  

 	
  

 
	
  

 	
 A.

 	
 Corroborate all the
 information provided by reviewing the medical records and cover letter, and generate a medical report.

 
	
  

 	
  

 	
  

 
	
  

 	
 B.

 	
 Submit
 to CFO, within ten (10) working days, for transmission to the Client,
 a final, signed medical record review report including all requested
 clarifications.

 
	
  

 	
  

 	
  

 
	
  

 	
 C.

 	
 Answer every requested
 question, if any, from
 the cover letter with substantiated medical evidence.

 

IME Re-Exam
– A Re-exam may be required at the request of the Client in order to prepare a
final impression. Physician understands that the following requirements must be
met for the medical record review report to be considered complete:

	
  

 	
  

 	
  

 
	
  

 	
 A.

 	
 In conjunction with the
 initial report of findings, review the additional medical records/films (if
 applicable) and cover letter.

 
	
  

 	
  

 	
  

 
	
  

 	
 B.

 	
 Physician performs the
 evaluation.

 
	
  

 	
  

 	
  

 
	
  

 	
 C.

 	
 Physician agrees to
 contact CFO, which, in turn, may seek the Client’s authorization for payment
 prior to Physician’s performance of or request to perform any diagnostic
 tests. Upon authorization, Physician will arrange or perform all diagnostic
 tests necessary for a complete examination (including establishing
 diagnosis).

 
	
  

 	
  

 	
  

 
	
  

 	
 D.

 	
 Answer every relevant
 question, if any, from the cover letter with substantiated medical evidence.

 
	
  

 	
  

 	
  

 
	
  

 	
 E.

 	
 Complete all required
 forms (if any) provided to Physician on behalf of the Client.

 
	
  

 	
  

 	
  

 
	
  

 	
 F.

 	
 Submit to CFO within
 ten (10) working days of performance of the evaluation, for transmission to
 the Clients, a final, signed medical report, including all requested
 clarifications.

 

Poor Review
– A review of another physician’s treatment plan and the appropriateness of
fees for services may be requested.

	
  

 	
  

 	
  

 
	
  

 	
 A.

 	
 Corroborate all the
 information provided by reviewing the medical records, bills and cover
 letter, and generate an expert opinion.

 
	
  

 	
  

 	
  

 
	
  

 	
 B.

 	
 Submit final, signed
 poor review report including all requested clarifications within ten (10)
 working days to CFO, for transmission to the Client.

 

DISBURSEMENT
TERMS

Fees
for services provided will be disbursed by CFO, on behalf of the Client, to
Physician in the month following that for which the fee is earned (see Service
Requirements paragraphs 1, 2, 3, 4 and 5). Checks will be issued between
the twentieth (20th) and thirtieth (30th) of each month.

IC Initials_____________

2

CONFIDENTIAL

Fees
for all legal services (Court Appearances, Video Testimony, Arbitration,
Discovery Depositions, Attorney Conferences, etc.) will be disbursed to
Physician in the month following that in which CFO receives payment from its
Client.

	
  

 	
  

 
	
  

 	
 1)     ______________________

 
	
  

 	
 Physician
 Initials

 

IC Initials_____________

3

CONFIDENTIAL

I,
as the Independent Contractor, have read and agree with the terms of
disbursement and other requirements included on this Attachment.

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 BY:

 	
 /s/ Steven G. Robbins, M.D.

 	
  

 	
 July

 	
        14       , 

 	
 2008

 
	
  

 	 

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
         Physician Signature

 	
  

 	
  

 	
 Date

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 BY:

 	
 Steven G. Robbins, M.D.

 	
  

 	
  

 	
  

 	
  

 

IC Initials_____________

CONFIDENTIAL

SCHEDULE C

HIPAA ADDENDUM

See attached.

IC Initials_____________

CONFIDENTIAL

HIPAA ADDENDUM

          THIS
ADDENDUM shall modify and supplement the Agreement by and between CFO Medical Services, Inc. (“CFO” or “Business
Associate”) and Steven G. Robbins, M.D. (“IC” or “Subcontractor”) (collectively
referred to as the “Parties”) entered into on July 14, 2008 (the “Agreement’). This Addendum incorporates by reference the
Agreement and any and all Schedules executed by CFO.

          WHEREAS,
the Federal government, pursuant to the Health Insurance
Portability and Accountability Act of 1996 (“HIPAA”), has promulgated privacy
regulations relating to the use, storage,
transmission, and disclosure of patients’ private health information (45 C.F.R. § 164. Parts 160 and
164)(referred to herein as the “Privacy Regulations”); and

          WHEREAS, CFO, as a business associate, may be required to protect the privacy and
confidentiality of health information by adhering to certain restrictions and
conditions; and

          WHEREAS,
the Privacy Regulations require business associates to ensure that any agent to
whom it provides protected health information agrees to the same restrictions
and conditions,

          NOW,
THEREFORE, intending
to be legally bound hereto, the Parties hereby agree as follows:

Section 1. DEFINITIONS.

1.1 Definition.
Terms used but not otherwise defined in this Addendum shall have the same meaning as
those terms in the Privacy Regulations.

(j)
“Protected Health Information”. The term “Protected Health
Information (“PHI”) shall mean information that (i) is created or received by the Covered Entity,
(ii) relates to the past, present, or future physical or mental
condition of an individual, the provision of health care to an individual, or the payment for the provision of
health care to an individual, and
(iii) either identifies an individual or there is a reasonable
basis to believe that it could be
used to identify an individual.

2. PERMITTED USES AND DISCLOSURES OF
PROTECTED HEALTH INFORMATION.

(a) Compliance. The Parties
agree to comply with the relevant Privacy Regulations as may be modified from
time to time,

(b)
Permitted Uses and Disclosures. Except as otherwise limited in
the Agreement and/or this Addendum,
or otherwise prohibited or limited by any
applicable law, rule or regulation, IC may use or disclose PHI to perform
functions, activities or services
for, or on behalf of, CFO as specified
herein, provided that such use or disclosure (i) involves only the minimum
amount of such PHI as is necessary
for such performance; and (ii) would not violate the Privacy Regulations
it done by a Covered Entity.

IC Initials_____________

1

CONFIDENTIAL

Except
as otherwise set forth herein, IC may disclose PHI for the purpose of its
proper management and administration, provided that disclosures are required by law, or IC obtains reasonable assurances from the person to whom the
information is disclosed that it will remain confidential and used or
further disclosed only as required by law or for the purpose for which
it was disclosed to the person, and the person notifies IC of any
instances of which it is aware in which the confidentiality of the
information has been breached.

	
  

 	
  

 	
  

 
	
 3.

 	
 RESPONSIBILITIES OF THE PARTIES WITH RESPECT TO PHI.

 
	
  

 	
  

 
	
 (a)

 	
 Obligations And
 Activities of IC.

 
	
  

 	
  

 
	
  

 	
 (i)

 	
 IC agrees not to use or
 disclose PHI other than as permitted or required herein or as
 required by law,

 
	
  

 	
  

 	
  

 
	
  

 	
 (ii)

 	
 IC agrees to use
 appropriate safeguards to prevent the use or disclosure of PHI other than as provided for
 herein.

 
	
  

 	
  

 	
  

 
	
  

 	
 (iii)

 	
 IC agrees to mitigate, to the extent
 practicable, any harmful effect that
 is known to IC of a use or disclosure of PHI by IC or its employees or agents
 in violation of the
 requirements of this Addendum.

 
	
  

 	
  

 	
  

 
	
  

 	
 (iv)

 	
 IC agrees to immediately
 report to CFO any use or disclosure of PHI not provided for by this Addendum
 of which it becomes aware.

 
	
  

 	
  

 	
  

 
	
  

 	
 (v)

 	
 IC
 agrees to ensure that any agent, including a subcontractor, to whom it provides PHI received from, or created or
 received by IC on behalf of CFO, agrees to the same restrictions and
 conditions that apply through this Addendum to IC with respect to such
 information,

 
	
  

 	
  

 	
  

 
	
  

 	
 (vi)

 	
 IC
 agrees to provide access, at the request of CFO, and in the time and manner as reasonably directed by CFO, to PHI in a Designated Record Set (as such term is defined by HIPAA), to CFO, or as directed by CFO to an individual, in order to
 meet the requirements under 45 C.F.R.
 §164.524.

 
	
  

 	
  

 	
  

 
	
  

 	
 (vii)

 	
 IC agrees to make any amendments to PHI
 in a Designated Record Set that CFO
 directs or agrees pursuant to 45 C.F.R. §164.526, at the request of CFO or an individual, and in the time and manner as reasonably
 directed by CFO.

 
	
  

 	
  

 	
  

 
	
  

 	
 (viii)

 	
 IC agrees to document and make available to CFO, in a time
 and manner as reasonably directed
 by CFO, information required to
 provide an accounting of disclosures in accordance with 45 C.F.R. §164.526.

 
	
  

 	
  

 	
  

 
	
  

 	
 (ix)

 	
 IC agrees to make
 internal practices, books, and records, including policies and procedures and
 PHI, relating to the use and disclosure of PHI received from, or created or
 received by IC on behalf of CFO, available to CFO or
 to the Secretary of the Department of Health and Human Services (the
 “Secretary”), in a time and manner as reasonably directed by CFO,

 

IC Initials_____________

2

CONFIDENTIAL

	
  

 	
  

 	
  

 
	
 (b)

 	
 Obligations of CFO.

 
	
  

 	
  

 
	
  

 	
 (i)

 	
 CFO shall notify IC of
 any changes in, or revocation of, permission by an individual to use or
 disclose PHI, to
 the extent that such changes may affect IC’s use or disclosure of PHI.

 
	
  

 	
  

 	
  

 
	
  

 	
 (ii)

 	
 CFO shall notify IC of
 any restriction to the use or disclosure of PHI in accordance with 45 C.F.R.
 §164.522, to the extent that such restriction may affect IC’s use or
 disclosure of PHI.

 
	
  

 	
  

 	
  

 
	
 4.

 	
 Term And Termination.

 
	
  

 	
  

 
	
  

 	
                     (a)
 Term. This Addendum shall become effective as of the date first set
 forth above and shall continue in effect until otherwise terminated in
 accordance with this Section 4.

 
	
  

 	
  

 	
  

 
	
  

 	
                     
 (b) Termination by CFO. Upon CFO’s knowledge of a material breach by
 IC or its employees or agents of the provisions of this Addendum, CFO shall
 either;

 
	
  

 	
  

 	
  

 
	
  

 	
 (1)

 	
 Provide an opportunity
 for IC to cure the breach or end the violation; or

 
	
  

 	
  

 	
  

 
	
  

 	
 (2)

 	
 Immediately terminate
 the Agreement and this Addendum.

 
	
  

 	
  

 	
  

 
	
  

 	
                     
 (c) Automatic Termination. This Addendum will automatically terminate
 without any further action of the Parties upon the termination or expiration
 of (i) the Agreement between the Parties, or (ii) the Privacy
 Regulations; or in the event CFO determines that it no longer qualifies as a
 business associate.

 
	
  

 	
  

 	
  

 
	
 (d)

 	
 Obligations of the IC upon Termination or Non-Renewal.

 
	
  

 	
  

 
	
  

 	
 (i)

 	
 Return or Destruction.
 Upon the termination or non-renewal of the Agreement and/or Addendum for any
 reason, IC agrees to return or destroy, at CFO’s election, all PHI received from,
 or created or received by, the IC on behalf of CFO that IC still maintains in
 any form, and shall retain no copies of such PHI.

 
	
  

 	
  

 	
  

 
	
  

 	
 (ii)

 	
 Non-Return or
 Destruction. If CFO agrees that it is not feasible for IC to return or
 destroy the PHI upon the termination or non-renewal of the Agreement and/or
 Addendum for any reason IC agrees to extend indefinitely any and all
 protections, limitations and restrictions contained in this Addendum to its
 use and/or disclosure of any PHI.

 
	
  

 	
  

 	
  

 
	
  

 	
 (iii)

 	
 The provisions of this
 Section 4.4 under this Addendum shall survive the termination or non-renewal
 of the Agreement and/or Addendum, for any reason.

 

IC Initials_____________

3

CONFIDENTIAL

	
  

 	
  

 	
  

 
	
 5.

 	
 Miscellaneous.

 
	
  

 	
  

 	
  

 
	
  

 	
           (a)
 Effect on Agreement. In the event of conflict between this Addendum
 and the Agreement, this Addendum shall prevail. Except as otherwise defined
 herein, words and phrases defined in the Agreement shall continue to have the
 meanings ascribed to them in the Agreement. All other terms, conditions and
 covenants set forth in the Agreement and not expressly modified herein shall
 remain in full
 force and effect.

 

IC Initials_____________

4

CONFIDENTIAL

          IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
indicated above.

	
  

 	
  

 	
  

 
	
 WITNESS:

 	
  

 	
 PHYSICIAN:

 
	
  

 	
  

 	
  

 
	
 /s/ Greg Decter

 	
  

 	
          
       /s/ Steven G. Robbins,
 M.D.

 
	 

 	
  

 	 

 
	
      Name: Greg Decter

 	
  

 	
 Name: Steven G. Robbins, M.D.

 
	
  

 	
  

 	
  

 
	
 ATTEST:

 	
  

 	
 CFO MEDICAL SERVICES, INC.

 
	
  

 	
  

 	
  

 
	
 /s/ Greg Decter

 	
  

 	
       
          /s/ Pauline Murano

 
	 

 	
  

 	 

 
	
 Name: Greg Decter

 	
  

 	
 Name: Pauline Murano

 
	
 Title:   VP Operations 

 	
  

 	
 Title:    General Manager

 
	
  

 	
  

 	
  

 
	
 $66530_5

 	
  

 	
  

 

IC Initials_____________Officers' Certificate of Amgen Inc.

 Exhibit 4.2 

OFFICERS’ CERTIFICATE 

OF 

AMGEN INC. 
 Dated as of
September 16, 2010 
 The undersigned officers of the Company certify, pursuant to resolutions duly adopted by the Board of
Directors on March 3, 2009, and the unanimous written consent of the Offering Committee of the Board of Directors, dated as of September 13, 2010 (collectively, the “Resolutions”), and in accordance with Sections 2.1, 2.2
and 2.3 of the Indenture, dated as of August 4, 2003 (the “Indenture”; capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Indenture), between Amgen Inc., a Delaware corporation
(the “Company”), and The Bank of New York Mellon (as successor to JPMorgan Chase Bank, N.A.), as trustee (the “Trustee”), the following matters related to the issuance of the Company’s 3.45% Senior Notes due
2020 (the “2020 Notes”), and 4.95% Senior Notes due 2041 (the “2041 Notes”): 
 1. Attached
hereto as Annex A is a true and correct copy of a specimen note (the “Form of 2020 Note”) representing the 2020 Notes, and attached hereto as Annex B is a true and correct copy of a specimen note (the “Form of 2041
Note”) representing the 2041 Notes. The Form of 2020 Note and Form of 2041 Note are herein collectively referred to as the “Forms of Notes.” The Forms of Notes set forth certain of the terms required to be set forth in this
Certificate pursuant to Section 2.2 of the Indenture, and said terms are incorporated herein by reference. The 2020 Notes and the 2041 Notes are each a separate series of Securities under the Indenture and are referred to herein collectively as
the “Notes.” 
 2. The title of the 2020 Notes shall be the “3.45% Senior Notes due 2020,” and the
title of the 2041 Notes shall be the “4.95% Senior Notes due 2041.” 
 3. The 2020 Notes shall be issued at the
initial offering price of 99.629% of the principal amount and the 2041 Notes shall be issued at the initial offering price of 99.182% of the principal amount. 

4. The Company will initially issue $900,000,000 aggregate principal amount of 2020 Notes and $600,000,000 aggregate principal amount of
2041 Notes (in each case except for Notes authenticated and delivered upon registration of transfer of, in exchange for, or in lieu of, other Notes pursuant to Sections 2.7, 2.8, 2.11, 3.6 or 9.6 of the Indenture). The Company may issue additional
2020 Notes and/or 2041 Notes from time to time after the date hereof, and such Notes will be treated as part of the respective series of Notes for all purposes under the Indenture. 

 5. The Notes shall be issued as Global Securities only and will be exchangeable for
certificated notes (“Certificated Notes”) only if: 
  

	 	(a)	DTC (x) notifies the Company that it is unwilling or unable to continue as depository for the Global Securities or (y) at any time has ceased to be a clearing
agency registered under the Exchange Act at a time when it is required to be registered and, in either case, the Company fails to appoint a successor depository registered as a clearing agency under the Exchange Act within 90 days of notification to
the Company or the Company becoming aware of DTC’s ceasing to be so registered, as the case may be; 

  

	 	(b)	the Company, at its option, notifies the Trustee in writing to the effect that the Company elects to cause the issuance of the Certificated Notes; or

  

	 	(c)	there has occurred and is continuing an Event of Default with respect to the Notes. 

Certificated Notes delivered in exchange for any Global Security or beneficial interests in Global Securities will be registered in the
names, and issued in any approved denominations, requested by or on behalf of the depository (in accordance with its customary procedures). 

6. The Notes shall be denominated in Dollars and payments of principal and interest shall be made in Dollars. 

7. In addition to the provisions set forth in Article IV of the Indenture, the following additional provisions shall apply to the Notes
and shall be incorporated into the Indenture with respect to the Notes: 
 Section 4.5 Change of Control Offer

 (a) If a Change of Control Triggering Event occurs, unless the Company has exercised its option to redeem the Notes as
described in Section 5 of the Security, the Company will be required to make an offer (the “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of that Holder’s Notes on the terms set forth in such Security. In the Change of Control Offer, the Company shall be required to offer payment in cash equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued
and unpaid interest, if any, on the Notes repurchased to the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, a notice will be provided to Holders describing the
transaction that constitutes the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is provided
(the “Change of Control Payment Date”); provided, however, that in no event will the Change of Control Payment Date occur prior to the date 90 days following the First Issue Date. 

 

 2 

 (b) On the Change of Control Payment Date, the Company shall, to the extent lawful:

  

	 	(i)	accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

 

	 	(ii)	deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and

  

	 	(iii)	deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes
or portions of Notes being repurchased. 

 (c) Notwithstanding the foregoing, the Company shall not repurchase any
Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture, other than a Default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 

(d) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations
conflict with the Change of Control Offer provisions of the Notes, the Company will comply with those securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Offer provisions of the Notes
by virtue of any such conflict. 
 (e) For the purposes of this Section 4.5 only, the following definitions shall apply:

 “Beneficial Owner” shall be determined in accordance with Rules 13d-3 and 13d-5 under the Exchange Act or
any successor provisions, except that a Person will be deemed to have beneficial ownership of all shares that Person has the right to acquire irrespective of whether that right is exercisable immediately or only after the passage of time.

 “Change of Control” means the occurrence of any of the following: (1) the consummation of any
transaction (including, without limitation, any merger or consolidation) the result of which is that any Person or Group (other than the Company or one of its Subsidiaries) becomes the Beneficial Owner, directly or indirectly, of more than 50% of
the Company’s Voting Stock or other Voting Stock into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; provided, however, that a
Person shall not be deemed Beneficial Owner of, or to own beneficially, (A) any securities tendered pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s affiliates until such tendered
securities are accepted for purchase or exchange thereunder, or (B) any securities if such beneficial ownership (i) arises solely as a result of a revocable proxy delivered in response to a proxy or consent solicitation made pursuant to
the applicable rules and regulations under the Exchange Act, and 
  

 3 

 
(ii) is not also then reportable on Schedule 13D (or any successor schedule) under the Exchange Act; (2) the direct or indirect sale, transfer, conveyance or other disposition (other than by
way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the Company’s assets and the assets of the Company’s Subsidiaries, taken as a whole, to one or more Persons or Groups (other
than the Company or one of its Subsidiaries); provided that none of the circumstances in this clause (2) will be a Change of Control if the Persons that beneficially own the Company’s Voting Stock immediately prior to the
transaction own, directly or indirectly, shares with a majority of the total voting power of all outstanding voting securities of the surviving or transferee Person that are entitled to vote generally in the election of that Person’s board of
directors, managers or trustees immediately after the transaction; (3) the Company consolidates with, or merges with or into any Person, or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a
transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other Person is converted into or exchanged for cash, securities or other property, other than such transaction where the shares of the
Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person or any direct or indirect parent company of the surviving Person
immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Board of Directors are not Continuing Directors; or (5) the adoption of a plan relating to the Company’s liquidation or
dissolution. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control under clause (1) above if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and
(ii) (A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction
or (B) immediately following that transaction no Person (other than a holding company satisfying the requirements of this sentence) is the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company.

 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.

 “Fitch” means Fitch, Inc., and its successors. 

“Group” has the meaning given by Section 13(d) and 14(d) of the Exchange Act or any successor provisions and
includes any group acting for the purpose of acquiring, holding or disposing of securities within the meaning of Rule 13d-5(b)(1) under the Exchange Act or any successor provision. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s, BBB- (or the
equivalent) by S&P, and BBB- (or the equivalent) by Fitch, and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Person” has the meaning given by Section 13(d) and 14(d) of the Exchange Act or any successor provisions.

  

 4 

 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P;
and (2) if any of Fitch, Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company (as certified by a resolution of the Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as
the case may be. 
 “Rating Event” means the rating on the applicable series of Notes is lowered by at least
two of the three Rating Agencies and the Notes are rated below an Investment Grade Rating by at least two of the three Rating Agencies on any day during the period commencing 60 days prior to the first public notice of the occurrence of a Change of
Control or the Company’s intention to effect a Change of Control and ending 60 days following consummation of such Change of Control (which period will be extended so long as the rating of the applicable series of Notes is under publicly
announced consideration for a possible downgrade by any of the Rating Agencies). 
 “S&P” means
Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., and its successors. 

“Voting Stock” as applied to stock of any Person, means shares, interests, participations or other equivalents in the
equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents having such power
only by reason of the occurrence of a contingency. 
 Section 4.6 Limitation on Liens. 

(a) The Company shall not, nor shall it permit any of its Subsidiaries to, create or incur any Lien on any of their respective
Properties, whether now owned or hereafter acquired, or upon any income or profits therefrom, in order to secure any Indebtedness of the Company, without effectively providing that such series of Notes shall be equally and ratably secured until such
time as such Indebtedness is no longer secured by such Lien, except: 
 (1) Liens existing as of the First Issue Date;

 (2) Liens granted after the First Issue Date on any of the Company or any of its Subsidiaries’ Properties securing
Indebtedness of the Company created in favor of the Holders of the Notes; 
 (3) Liens securing Indebtedness of the Company
which are incurred to extend, renew or refinance Indebtedness which is secured by Liens permitted to be incurred under the Indenture; provided that those Liens do not extend to or cover any of the Company or any of its Subsidiaries’
Property other than the Property securing the Indebtedness being refinanced and that the principal amount of such Indebtedness does not exceed the principal amount of the Indebtedness being refinanced; 

(4) Liens created in substitution of or as replacements for any Liens permitted by the preceding clauses (1) through
(3) directly above, provided that, based on a good 
  

 5 

 
faith determination of an Officer of the Company, the Property encumbered under any such substitute or replacement Lien is substantially similar in nature to the Property encumbered by the
otherwise permitted Lien which is being replaced; and 
 (5) Permitted Liens. 

(b) Notwithstanding the foregoing, the Company and any of its Subsidiaries may, without securing any series of Notes, create or incur
Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after giving effect thereto, Exempted Debt does not exceed the greater of (x) 35% of Consolidated Net Worth calculated as of the date of the
creation or incurrence of the Lien or (y) 35% of Consolidated Net Worth calculated as of the First Issue Date. 

Section 4.7 Limitation on Sale and Lease-Back Transactions. 

(a) The Company shall not and shall not permit any of its Subsidiaries to, enter into any sale and lease-back transaction for the sale
and leasing back of any Property, whether now owned or hereafter acquired, of the Company or any Subsidiary of the Company, unless: 

(1) such transaction was entered into prior to the First Issue Date; 

(2) such transaction was for the sale and leasing back of any Property by a Subsidiary of the Company to the Company; 

(3) such transaction involves a lease for less than three years; 

(4) the Company would be entitled to incur Indebtedness secured by a mortgage on the property to be leased in an amount equal to the
Attributable Liens with respect to such sale and lease-back transaction without equally and ratably securing the Notes pursuant to Section 4.6; or 

(5) the Company applies an amount equal to the fair value of the proceeds of the Property sold to the purchase of Property or to the
retirement of long-term Indebtedness of the Company or any of its Subsidiaries within 120 days of the effective date of any such sale and lease-back transaction. In lieu of applying such amount to such retirement, the Company may, or may cause any
of its Subsidiaries to, deliver debt securities to the Trustee therefor for cancellation, such debt securities to be credited at the cost thereof to the Company. 

(b) Notwithstanding the foregoing, the Company and any of its Subsidiaries may enter into any sale and lease-back transaction which would
otherwise be subject to the foregoing restrictions if after giving effect thereto and at the time of determination, Exempted Debt does not exceed the greater of (a) 35% of Consolidated Net Worth calculated as of the closing date of the
sale-leaseback transaction or (b) 35% of Consolidated Net Worth calculated as of the First Issue Date. 
  

 6 

 8. In addition to the definitions set forth in Article I of the Indenture, each of the Notes
shall include the following additional definitions, which, in the event of a conflict with the definition of terms in the Indenture, shall control: 

“Attributable Liens” means in connection with a sale and lease-back transaction the lesser of: 

(1) the fair market value of the assets subject to such transaction; and 

(2) the present value (discounted at a rate per annum equal to the average interest borne by all outstanding debt securities issued under
the Indenture (which may include debt securities in addition to the Notes) determined on a weighted average basis and compounded semi-annually) of the obligations of the lessee for rental payments during the term of the related lease. 

“Business Day” means any day except a Saturday, Sunday or a legal holiday in the City of New York on which banking
institutions are authorized or required by law, regulation or executive order to close. 
 “Capital Lease”
means any Indebtedness represented by a lease obligation of a Person incurred with respect to real property or equipment acquired or leased by such Person and used in its business that is required to be recorded as a capital lease in accordance with
GAAP. 
 “Consolidated Net Worth” means, as of any date of determination, the Stockholders’ Equity of the
Company and its Consolidated Subsidiaries on that date. 
 “Consolidated Subsidiary” means, as of any date of
determination and with respect to any Person, any Subsidiary of that Person whose financial data is, in accordance with GAAP, reflected in that Person’s consolidated financial statements. 

“Continuing Director” means, as of any date of determination, any member of the Board of Directors who: 

 

	 	(1)	was a member of the Board of Directors on the First Issue Date; or 

  

	 	(2)	was nominated for election or elected to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors
at the time of such nomination or election. 

 “Credit Agreement” means the Credit Agreement,
dated as of November 2, 2007, by and among the Company, Citibank N.A., Citicorp USA, Inc., as administrative agent, Barclays Bank PLC, as syndication agent, and Citigroup Global Markets, Inc. and Barclays Capital, as joint lead arrangers and
joint book runners, as such agreement may be amended (including any amendment, restatement, refinancing and successors thereof), supplemented or otherwise modified from time to time, including any increase in the principal amount of the obligations
thereunder. 
 “Credit Facilities” means, one or more debt facilities (including, without limitation, the
Credit Agreement) or commercial paper facilities, in each case, with banks or other institutional lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to
special purpose entities formed to borrow from such lenders against such receivables) or letters of credit, in each case, as amended, restated, 

 

 7 

 
modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced (including by means of sales of debt securities to institutional investors) in whole or in
part from time to time. 
 “Exempted Debt” means the sum of the following as of the date of determination:

 (1) Indebtedness of the Company incurred after the First Issue Date and secured by Liens not permitted by Section 4.6(a)
above; and 
 (2) Attributable Liens of the Company and any of its Subsidiaries in respect of sale and lease-back transactions
entered into after the First Issue Date pursuant to Section 4.7(b) above. 
 “First Issue Date” means
September 16, 2010. 
 “GAAP” means accounting principles generally accepted in the United States set
forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such
other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination. 

“Governmental Agency” means: 

(1) any foreign, federal, state, county or municipal government, or political subdivision thereof; 

(2) any governmental or quasi-governmental agency, authority, board, bureau, commission, department, instrumentality or public body;

 (3) any court or administrative tribunal; and 

(4) with respect to any Person, any arbitration tribunal or other nongovernmental authority to whose jurisdiction that Person has
consented. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person
under: 
 (1) interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap
agreements and interest rate collar agreements; 
 (2) other agreements or arrangements designed to manage interest rates or
interest rate risk; and 
 (3) other agreements or arrangements designed to protect such Person against fluctuations in currency
exchange rates or commodity prices. 
 “Indebtedness” of any Person means, without duplication, any
indebtedness, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or 
  

 8 

 
similar instruments or letters of credit (or reimbursement agreements with respect thereto) or representing the balance deferred and unpaid of the purchase price of any Property (including
pursuant to Capital Leases), except any such balance that constitutes an accrued expense or trade payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon a balance sheet of such Person prepared on a
consolidated basis in accordance with GAAP (but does not include contingent liabilities which appear only in a footnote to a balance sheet), and shall also include, to the extent not otherwise included, the guaranty of items which would be included
within this definition. 
 “Laws” means, collectively, all foreign, federal, state and local statutes,
treaties, rules, regulations, ordinances, codes and administrative or controlling precedents of any Governmental Agency. 

“Lien” means any lien, security interest, charge or encumbrance of any kind (including any conditional sale or other
title retention agreement, any lease in the nature thereof, and any agreement to give any security interest). 

“Make-Whole Amount” means the excess of (1) the net present value, on the redemption date, of the principal being
redeemed or paid and the amount of interest (exclusive of interest accrued to the date of redemption) that would have been payable if such redemption had not been made, over (2) the aggregate principal amount of the 2020 Notes or the 2041
Notes, as applicable, being redeemed or paid. Net present value shall be determined by discounting, on a semi-annual basis, such principal and interest at the Reinvestment Rate (as determined on the third Business Day preceding the date such notice
of redemption is given) from the respective dates on which such principal and interest would have been payable if such redemption had not been made. 

“Permitted Liens” means: 

(1) Liens securing Indebtedness under Credit Facilities; 

(2) Liens on accounts receivable, merchandise inventory, equipment, and patents, trademarks, trade names and other intangibles, securing
Indebtedness of the Company; 
 (3) Liens on any assets of the Company, any of its Subsidiaries’ assets, or the assets of
any joint venture to which the Company or any of its Subsidiaries is a party, created solely to secure obligations incurred to finance the refurbishment, improvement or construction of such asset, which obligations are incurred no later than 24
months after completion of such refurbishment, improvement or construction, and all renewals, extensions, refinancings, replacements or refundings of such obligations; 

(4) (a) Liens given to secure the payment of the purchase price incurred in connection with the acquisition (including acquisition
through merger or consolidation) of Property (including shares of stock), including Capital Lease transactions in connection with any such acquisition, and (b) Liens existing on Property at the time of acquisition thereof or at the time of
acquisition by the Company or one of its Subsidiaries of any Person then owning such Property whether or not such existing Liens were given to secure the payment of the purchase price of the Property to which they attach; provided that, with
respect to clause (a), the Liens shall be given within 24 months after such acquisition and shall attach solely to the Property acquired or purchased and any improvements then or thereafter placed thereon; 

 

 9 

 (5) Liens in favor of customs and revenue authorities arising as a matter of law to secure
payment of customs duties in connection with the importation of goods; 
 (6) Liens upon specific items of inventory or other
goods and proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods;

 (7) Liens securing reimbursement obligations with respect to letters of credit that encumber documents and other Property
relating to such letters of credit and the products and proceeds thereof; 
 (8) Liens on key-man life insurance policies
granted to secure Indebtedness of the Company against the cash surrender value thereof; 
 (9) Liens encumbering customary
initial deposits and margin deposits and other Liens in the ordinary course of business, in each case securing Hedging Obligations and forward contract, option, futures contracts, futures options or similar agreements or arrangements designed to
protect the Company or any of its Subsidiaries from fluctuations in interest rates, currencies or the price of commodities; 

(10) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into by
Company or any of its Subsidiaries in the ordinary course of business; 
 (11) pre-existing Liens on assets acquired by the
Company or any of its Subsidiaries after the First Issue Date; 
 (12) Liens in favor of the Company or in favor of any of its
Subsidiaries; 
 (13) inchoate Liens incident to construction or maintenance of real property, or Liens incident to construction
or maintenance of real property, now or hereafter filed of record for sums not yet delinquent or being contested in good faith, if reserves or other appropriate provisions, if any, as shall be required by GAAP shall have been made therefore;

 (14) statutory Liens arising in the ordinary course of business with respect to obligations which are not delinquent or are
being contested in good faith, if reserves or other appropriate provisions, if any, as shall be required by GAAP shall have been made therefore; 

(15) Liens consisting of pledges or deposits to secure obligations under workers’ compensation laws or similar legislation,
including Liens of judgments thereunder which are not currently dischargeable; 
 (16) Liens consisting of pledges or deposits
of Property to secure performance in connection with operating leases made in the ordinary course of business to which Company or 

 

 10 

 
any of its Subsidiaries is a party as lessee, provided the aggregate value of all such pledges and deposits in connection with any such lease does not at any time exceed
16 2/3% of the annual fixed rentals payable under
such lease; 
 (17) Liens consisting of deposits of Property to secure statutory obligations of the Company or statutory
obligations of any of its Subsidiaries in the ordinary course of its business; 
 (18) Liens consisting of deposits of Property
to secure (or in lieu of) surety, appeal or customs bonds in proceedings to which the Company or any of its Subsidiaries is a party in the ordinary course of its business, but not in excess of $75,000,000; 

(19) purchase money Liens or purchase money security interests upon or in any Property acquired or held by Company or any of its
Subsidiaries in the ordinary course of business to secure the purchase price of such Property or to secure Indebtedness incurred solely for the purpose of financing the acquisition of such Property; 

(20) Liens on an asset created in connection with the acquisition, construction or development of additions, extensions or improvements
to such asset which shall be financed by obligations described in Sections 142, 144(a) or 144(c) of the Internal Revenue Code of 1986, as amended, or by obligations entitled to substantially similar tax benefits under other legislation or
regulations in effect from time to time; and 
 (21) Liens on Property subject to escrow or similar arrangements established in
connection with litigation settlements. 
 “Property” means any property or asset, whether real, personal or
mixed, or tangible or intangible. 
 “Reinvestment Rate” means for the 2020 Notes, 0.15%, and for the 2041
Notes, 0.20%, in each case plus the arithmetic mean of the yields under the respective heading “Week Ending” published in the most recent Statistical Release under the caption “Treasury Constant Maturities” for the maturity
(rounded to the nearest month) corresponding to the remaining life to maturity, as of the payment date of the principal being redeemed or paid. If no maturity exactly corresponds to such maturity, yields for the two published maturities most closely
corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence and the Reinvestment Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to
the nearest month. For the purpose of calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date of determination of the Make-Whole Amount shall be used. 

“Statistical Release” means the statistical release designated “H.15(519)” or any successor publication which
is published weekly by the Federal Reserve System and which establishes yields on actively traded United States government securities adjusted to constant maturities, or, if such Statistical Release is not published at the time of any determination
under the Indenture, then such other reasonably comparable index which shall be designated by the Company. 
  

 11 

 “Stockholders’ Equity” means, as of any date of determination,
stockholders’ equity as of that date determined in accordance with GAAP; provided that there shall be excluded from Stockholders’ Equity any amount attributable to capital stock that is, directly or indirectly, required to be
redeemed or repurchased by the issuer thereof at a specified date or upon the occurrence of specified events or at the election of the holder thereof. 

9. The Depository for the Notes shall be The Depository Trust Company (“DTC”). 

10. Each of the undersigned is authorized to approve the form, terms and conditions of the Notes. 

11. Each of the undersigned has read the provisions of the Indenture, including the covenants and conditions precedent, pertaining to the
issuance of the Notes. 
 12. In connection with this Certificate, each of the undersigned has examined the documents, corporate
records and certificates and has made such inquiries of the other officers of the Company, which he has deemed necessary to enable him to express an informed opinion as to whether or not such comments and conditions have been complied with.

 13. In the opinion of each of the undersigned, all of the conditions and covenants related to the issuance of the Notes have
been complied with. 
  

 12 

 IN WITNESS WHEREOF, the undersigned have executed this Officers’ Certificate as
of the date first set forth above. 
  

					
	By:	 	 /S/ PAMELA M.G. WAPNICK

		 	Name:	 	Pamela M.G. Wapnick
		 	Title:	 	Vice President, Finance and Treasurer
		
	By:	 	 /S/ JONATHAN M. PEACOCK

		 	Name:	 	Jonathan M. Peacock
		 	Title:	 	Executive Vice President and Chief Financial Officer

Signature Page to Officers’ Certificate for the Notes 

 Annex A 

Form of 2020 Note 

 [Face of Note] 

 
 CUSIP 031162 BD1 

3.45% Senior Notes due 2020 
  

			
	No.         	  	$                

AMGEN INC. 

promises to pay to CEDE & CO. or registered assigns, the principal sum of
             on October 1, 2020. Interest Payment Dates: April 1 and October 1 Record Dates:
15th day prior to April 1 and October 1 Dated:
             
  

			
	AMGEN INC.
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Notes referred to in the
within-mentioned Indenture: 
  

			
	 The Bank of New York Mellon, as Trustee

		
	By:	 	  

		 	Authorized Officer

 [REVERSE SIDE OF NOTE] 

3.45% SENIOR NOTES DUE 2020 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITORY OR A NOMINEE OF THE DEPOSITORY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF
SUCH A SUCCESSOR DEPOSITORY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 Capitalized terms used
herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
  

	 	(1)	INTEREST. Amgen Inc., a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at 3.45% per annum
from September 16, 2010 until maturity. The Company will pay interest semi-annually in arrears on April 1 and October 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an
“Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that the first Interest Payment Date
shall be April 1, 2011; provided further that after April 1, 2011, if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. 

  

	 	(2)	 METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the day that is 15 days prior to the next succeeding Interest Payment Date (whether or not such day is a Business Day), even if such Notes are canceled after such record date and on or before such Interest Payment Date, except
as provided in Section 2.13 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal and interest at the office or agency of the Company maintained for such purpose in the Borough of Manhattan, the City and
State of New York (or, if the Company fails to maintain such office or agency, at the corporate trust office of the trustee in New York, 

	 	 
New York or if the trustee does not maintain an office in New York, at the office of a paying agent in New York), or, at the option of the Company, payment of interest may be made by check mailed
to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest on all Global Securities and all other Notes the
Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in the currency of the United States of America. 

 

	 	(3)	PAYING AGENT AND REGISTRAR. Initially, The Bank of New York Mellon (as successor to JPMorgan Chase Bank, N.A.), the Trustee under the Indenture, will act as Paying
Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

 

	 	(4)	INDENTURE. The terms of the Notes include those stated in the Indenture dated August 4, 2003, between the Company and the Trustee (the
“Indenture”), and those made part of the Indenture by the Officers’ Certificate dated September 16, 2010, delivered pursuant thereto (the “Officers’ Certificate”) and the TIA. The Notes are subject to
all such terms, and the Holders are referred to the Indenture and the TIA for a statement of them. 

  

	 	(5)	OPTIONAL REDEMPTION. At any time prior to maturity, the Company will have the option to redeem all or a part of the Notes upon not less than 30 nor more than 60
days’ notice, at a redemption price equal to the sum of (1) 100% of the principal amount of any Notes being redeemed plus accrued and unpaid interest to, but not including, the redemption date, and (2) the Make-Whole Amount. Unless
the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable redemption date. 

 

	 	(6)	NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be
redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes
in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. 

 

	 	(7)	MANDATORY REDEMPTION. Except as provided in Section 8 below, the Company is not required to make mandatory redemption or sinking fund payments with respect to the
Notes. 

  

	 	(8)	CHANGE OF CONTROL TRIGGERING EVENT. In the event of a Change of Control Triggering Event, the Holders may require the Company to purchase for cash all or a portion of
their Notes at a purchase price equal to 101% of the principal amount of the notes, plus accrued and unpaid interest, if any, pursuant to the provisions of Section 7 of the Officers’ Certificate. 

 

	 	(9)	DEFEASANCE PRIOR TO MATURITY. The Indenture contains provisions for defeasance of (i) the entire indebtedness of the Notes or (ii) certain covenants and
Events of Default with respect to the Notes, in each case upon compliance with certain conditions set forth therein. 

	 	(10)	RESTRICTIVE COVENANTS. The Indenture and the Officers’ Certificate impose certain limitations on the Company and its Subsidiaries, including limitations on the
Company’s and its Subsidiaries’ ability to create or incur certain Liens on any of their respective properties or assets and to enter into certain sale and lease-back transactions and on the Company’s ability to engage in mergers or
consolidations or the conveyance, transfer or lease of all or substantially all of its properties and assets. These limitations are subject to a number of important qualifications and exceptions and reference is made to the Indenture and the
Officers’ Certificate for a description thereof. 

  

	 	(11)	DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay
any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part.
Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

  

	 	(12)	PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. 

 

	 	(13)	AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a
majority in aggregate principal amount of the then outstanding Notes voting as a single class, and any existing Default or Event or Default or compliance with any provision of the Indenture or the Notes may be waived with the consent of the Holders
of a majority in aggregate principal amount of the then outstanding Notes voting as a single class. Without the consent of any Holder of a Note, the Indenture or the Notes may be amended or supplemented to cure any ambiguity, defect or
inconsistency, to comply with Article V of the Indenture, to provide for uncertificated Notes in addition to or in place of certificated Notes, to make any change that would not adversely affect the rights under the Indenture of any such Holder, to
provide for the issuance of any additional notes as permitted by the Indenture, to appoint a successor trustee with respect to the notes and to add to or change any of the provisions of the Indenture necessary to provide for the administration of
the trusts in the Indenture by more than one trustee, or to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA. No amendment to cure any ambiguity, defect or inconsistency in the
Indenture made solely to conform the Indenture to the description of notes contained in the Prospectus Supplement related to the Notes, dated September 13, 2010, will be deemed to adversely affect the interests of the Holders of the Notes.

  

	 	(14)	DEFAULTS AND REMEDIES. If an Event of Default shall occur and be continuing, the principal of the Notes may be declared (or, in certain cases, shall ipso facto become)
due and payable in the manner and with the effect provided in the Indenture. 

  

	 	(15)	TRUSTEE DEALINGS WITH COMPANY. The Trustee under the Indenture, in its individual or any other capacity, may deal with the Company or an Affiliate of the Company with
the same rights it would have if it were not Trustee. 

	 	(16)	NO RECOURSE AGAINST OTHERS. A director, officer, employee or stockholder of the Company shall not have any liability for any obligations of the Company under the Notes
or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of the Notes. 

  

	 	(17)	AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 

 

	 	(18)	ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	(19)	CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption, and reliance may be placed only on the other identification numbers placed thereon. 

  

	 	(20)	GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES
OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Officers’
Certificate. 
 Requests may be made to: 

Amgen Inc. 
 One
Amgen Center Drive 
 Thousand Oaks, CA 91320-1799 

Attention: Investor Relations 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

					
	(I) or (we) assign and transfer this Note to:	  	  
	  	
		  	(Insert assignee’s legal name)	  	

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
  

			
	and irrevocably appoint	 	  

to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:                      

 

					
		 	Your Signature:	 	  

		 		 	(Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:
                                         
                            
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 Annex B 

Form of 2041 Note 

	
	 [Face of Note]

CUSIP 031162 BE9 

4.95% Senior Notes due 2041 
  

			
	No.         	 	$                

AMGEN INC. 

promises to pay to CEDE & CO. or registered assigns, the principal sum of
             on October 1, 2041. Interest Payment Dates: April 1 and October 1 Record Dates:
15th day prior to April 1 and October 1 Dated:
             
  

					
	AMGEN INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 This is one of the Notes referred to in the within-mentioned Indenture: 

 

			
	The Bank of New York Mellon, as Trustee
		
	By:	 	  

		 	Authorized Officer

 [REVERSE SIDE OF NOTE] 

4.95% SENIOR NOTES DUE 2041 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITORY OR A NOMINEE OF THE DEPOSITORY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF
SUCH A SUCCESSOR DEPOSITORY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 Capitalized terms used
herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
  

	 	(1)	INTEREST. Amgen Inc., a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at 4.95% per annum from
September 16, 2010 until maturity. The Company will pay interest semi-annually in arrears on April 1 and October 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment
Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that the first Interest Payment Date shall be April 1, 2011;
provided further that after April 1, 2011, if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date. 

  

	 	(2)	 METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the
close of business on the day that is 15 days prior to the next succeeding Interest Payment Date (whether or not such day is a Business Day), even if such Notes are canceled after such record date and on or before such Interest Payment Date, except
as provided in Section 2.13 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal and interest at the office or agency of the Company maintained for such purpose in the Borough of Manhattan, the City and
State of New York (or, if the Company fails to maintain such office or agency, at the corporate trust office of the trustee in New York, 

	 	 
New York or if the trustee does not maintain an office in New York, at the office of a paying agent in New York), or, at the option of the Company, payment of interest may be made by check mailed
to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest on all Global Securities and all other Notes the
Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in the currency of the United States of America. 

 

	 	(3)	PAYING AGENT AND REGISTRAR. Initially, The Bank of New York Mellon (as successor to JPMorgan Chase Bank, N.A.), the Trustee under the Indenture, will act as Paying
Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

 

	 	(4)	INDENTURE. The terms of the Notes include those stated in the Indenture dated August 4, 2003, between the Company and the Trustee (the “Indenture”),
and those made part of the Indenture by the Officers’ Certificate dated September 16, 2010, delivered pursuant thereto (the “Officers’ Certificate”) and the TIA. The Notes are subject to all such terms, and the Holders are
referred to the Indenture and the TIA for a statement of them. 

  

	 	(5)	OPTIONAL REDEMPTION. At any time prior to maturity, the Company will have the option to redeem all or a part of the Notes upon not less than 30 nor more than 60
days’ notice, at a redemption price equal to the sum of (1) 100% of the principal amount of any Notes being redeemed plus accrued and unpaid interest to, but not including, the redemption date, and (2) the Make-Whole Amount. Unless the Company
defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable redemption date. 

 

	 	(6)	NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be
redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes
in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. 

 

	 	(7)	MANDATORY REDEMPTION. Except as provided in Section 8 below, the Company is not required to make mandatory redemption or sinking fund payments with respect to the
Notes. 

  

	 	(8)	CHANGE OF CONTROL TRIGGERING EVENT. In the event of a Change of Control Triggering Event, the Holders may require the Company to purchase for cash all or a portion of
their Notes at a purchase price equal to 101% of the principal amount of the notes, plus accrued and unpaid interest, if any, pursuant to the provisions of Section 7 of the Officers’ Certificate. 

 

	 	(9)	DEFEASANCE PRIOR TO MATURITY. The Indenture contains provisions for defeasance of (i) the entire indebtedness of the Notes or (ii) certain covenants and Events of
Default with respect to the Notes, in each case upon compliance with certain conditions set forth therein. 

	 	(10)	RESTRICTIVE COVENANTS. The Indenture and the Officers’ Certificate impose certain limitations on the Company and its Subsidiaries, including limitations on the
Company’s and its Subsidiaries’ ability to create or incur certain Liens on any of their respective properties or assets and to enter into certain sale and lease-back transactions and on the Company’s ability to engage in mergers or
consolidations or the conveyance, transfer or lease of all or substantially all of its properties and assets. These limitations are subject to a number of important qualifications and exceptions and reference is made to the Indenture and the
Officers’ Certificate for a description thereof. 

  

	 	(11)	DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay
any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part.
Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

  

	 	(12)	PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. 

 

	 	(13)	AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a
majority in aggregate principal amount of the then outstanding Notes voting as a single class, and any existing Default or Event or Default or compliance with any provision of the Indenture or the Notes may be waived with the consent of the Holders
of a majority in aggregate principal amount of the then outstanding Notes voting as a single class. Without the consent of any Holder of a Note, the Indenture or the Notes may be amended or supplemented to cure any ambiguity, defect or
inconsistency, to comply with Article V of the Indenture, to provide for uncertificated Notes in addition to or in place of certificated Notes, to make any change that would not adversely affect the rights under the Indenture of any such Holder, to
provide for the issuance of any additional notes as permitted by the Indenture, to appoint a successor trustee with respect to the notes and to add to or change any of the provisions of the Indenture necessary to provide for the administration of
the trusts in the Indenture by more than one trustee, or to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA. No amendment to cure any ambiguity, defect or inconsistency in the
Indenture made solely to conform the Indenture to the description of notes contained in the Prospectus Supplement related to the Notes, dated September 13, 2010, will be deemed to adversely affect the interests of the Holders of the Notes.

  

	 	(14)	DEFAULTS AND REMEDIES. If an Event of Default shall occur and be continuing, the principal of the Notes may be declared (or, in certain cases, shall ipso facto become)
due and payable in the manner and with the effect provided in the Indenture. 

  

	 	(15)	TRUSTEE DEALINGS WITH COMPANY. The Trustee under the Indenture, in its individual or any other capacity, may deal with the Company or an Affiliate of the Company with
the same rights it would have if it were not Trustee. 

	 	(16)	NO RECOURSE AGAINST OTHERS. A director, officer, employee or stockholder of the Company shall not have any liability for any obligations of the Company under the Notes
or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of the Notes. 

  

	 	(17)	AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 

 

	 	(18)	ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	(19)	CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption, and reliance may be placed only on the other identification numbers placed thereon. 

  

	 	(20)	GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES
OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Officers’
Certificate. 
 Requests may be made to: 

Amgen Inc. 
 One
Amgen Center Drive 
 Thousand Oaks, CA 91320-1799 

Attention: Investor Relations 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

					
	(I) or (we) assign and transfer this Note to:	  	  
	  	
		  	(Insert assignee’s legal name)	  	

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
  

			
	and irrevocably appoint	 	  

to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:                      

 

					
		 	Your Signature:	 	  

		 		 	(Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:
                                 

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee)

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