Document:

Term Sheet Agreement effective as of  March 22, 2007

 Exhibit 10.41 
 CVS CORPORATION 
  

			
	TO:	  	Howard McLure
		
	FROM:	  	CVS Corporation
		
	DATE:	  	November 1, 2006

  
  
 Caremark Rx, Inc. (“Caremark”) has entered into an Agreement and Plan of Merger among Caremark, CVS Corporation (the
“Company”) and a merger subsidiary formed by the Company (the “Merger Agreement”), pursuant to which Caremark will become an indirect wholly owned subsidiary of the Company (the “Merger”) effective
as of the Effective Time, as defined in the Merger Agreement (the “Effective Time”). You, CVS and Caremark hereby agree that effective as of the Effective Time you will transfer your employment from Caremark to the Company pursuant
to the terms provided in the attached Term Sheet, which is incorporated herein by reference (the “Term Sheet”), and the Company agrees to employ you pursuant to the terms of the Term Sheet. Subject to the conditions set forth in the
Term Sheet, effective as of the Effective Time the agreement embodied in this letter agreement and the Term Sheet shall supersede and replace your existing employment agreement with Caremark dated December 3, 2001 (as amended) (the
“Caremark Agreement”). You and the Company have agreed to act in good faith to enter into a formal written Employment Agreement incorporating the terms set forth in the Term Sheet, with the intention that such Employment Agreement
will be executed prior to the Effective Time; provided, however, that this letter agreement and the attached Term Sheet will remain effective and will be fully binding upon you and the Company unless and until such Employment Agreement is executed
and approved in writing by you and the Company. 
 If the terms above and the terms set forth in the Term Sheet fully and accurately reflect
our agreement regarding the matters addressed, please indicate your agreement by signing in the space provided. 
  

									
	CVS Corporation	 		 	Caremark Rx, Inc.
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	

 I, Howard McLure, hereby agree that the terms set forth in this letter and the attached Term Sheet
fully and accurately reflect our agreement regarding the matters addressed. 
  

									
					
		 		 		 		 	  

		 		 		 		 	

 TERM SHEET 
  

			
	Definitions:	  	Except as otherwise provided, defined terms used herein shall have the meaning set forth in the accompanying letter agreement.
		
	Position/Duties:	  	Howard McLure (the “Executive”) shall serve as President of PBM with duties and responsibilities consistent with such position and reporting directly to the CEO of the
Company for a period of 36 months commencing as of the Effective Time or such shorter period determined under the termination provisions set forth below (such period of service, the “Employment Term”). During the Employment Term,
the Executive shall devote Executive’s efforts and attention to the business of the Company on a full time basis and shall perform such duties as shall reasonably be determined by the CEO of the Company consistent with Executive’s
position. If the Executive remains employed as of the end of the foregoing 36-month period, the Executive and the Company acting in good faith will seek to negotiate a new employment agreement for stated periods commencing after the 36th month.
		
	Compensation:	  	During the Employment Term, the Company shall pay the Executive an annual base salary equal to at least $728,000 (the “Base Salary”) and the Executive shall be eligible for
an annual bonus with a target of at least 100% of the Executive’s Base Salary (the “Target Bonus”). The Company may increase (but not decrease) the Base Salary and Target Bonus during the Employment Term and the terms Base
Salary and Target Bonus shall refer to such items as they may be increased from time to time.
		
	Deferral Account:	  	As of the Effective Time, the Company will establish for the Executive a deferred compensation account in the Executive’s name with an initial balance (the “Deferred
Amount”) equal to the Designated Percentage (defined below) of the maximum amount of all severance benefits that the Executive would be entitled to receive pursuant to Section 4(4)(d) of the Caremark Agreement (including the present value
of the benefits provided thereunder, but excluding equity compensation benefits), if Executive’s employment and the Caremark Agreement were terminated immediately after the Effective Time (the “Severance Benefits”). For the
duration of the deferral period, the Deferred Amount shall earn interest at a rate equal to the prior month 1 Year Constant Maturity Treasury Rate as determined each month by the Federal Reserve, compounded quarterly. In addition, as of the
Effective Time, the Company shall grant the Executive restricted stock units (the “Deferred Stock Units”) in respect of the number

			
		  	of shares of Company common stock with a value (based on the closing price of a share of Company common stock as of the Effective Date) equal to the Designated Percentage (defined below) of
the amount of the Severance Benefits. Dividend equivalents will be paid during the deferral period and when dividends are paid on the Company’s common stock. The “Designated Percentage” shall mean: (1) with respect to the
Deferred Stock Units, a percentage not to exceed 50 as designated by the Executive not later than 30 days prior to the Effective Time and (2) with respect to the Deferred Amount, a percentage equal to 100 minus the percentage number designated by
the Executive under (1) above. The Deferred Amount plus accrued interest and the Deferred Stock Units shall be distributed to the Executive in a lump sum as soon as practicable after the third anniversary of the Effective Time or such later date the
Executive has irrevocably elected; provided however, that the Deferred Amount plus accrued interest and the Deferred Stock Units shall be settled to the Executive (or Executive’s designated beneficiary or estate, as the case may be) as soon as
practicable after Executive’s death or any termination of Executive’s employment. The Deferred Amount plus accrued interest shall be paid in cash and the Deferred Stock Units shall be settled in properly registered shares of Company common
stock. The foregoing payments will be delayed to the minimum extent required to avoid additional tax under Section 409A of the IRC. The Deferred Amount, any accrued interest and the Deferred Stock Units shall hereinafter be referred to collectively
as the “Deferral Account”.
		
	 Restricted Stock Unit
 Grant:
	  	As of the Effective Time, the Company will award to the Executive a Restricted Stock Unit grant in respect of the number of shares of Company common stock with a value (based on the closing
price of a share of Company common stock as of the Effective Date) equal to $1,500,000 (“RSU Award”). The RSU Award will cliff vest on the 3rd anniversary of the grant date, subject to the termination provisions below. Dividend equivalents on the RSU Award will be paid to the Executive in cash during the vesting period and when dividends are paid on the
Company’s common stock. The RSU Award will be in addition to the Executive’s normal annual equity opportunity. The RSU Award will be settled in properly registered shares of Company common stock as of the date they become vested or such
later date the Executive has irrevocably elected. The settlement of the RSU Award will be subject to delay to the minimum extent required under Section 409A of the IRC.
		
	Benefits:	  	During the Employment Term, the Executive shall receive benefits and perquisites comparable to the benefits and perquisites provided

			
		  	to similarly situated senior executives of the Company. Following termination of the Executive’s services hereunder during the Employment Term for any reason other than death, disability
or termination by the Company for Cause or by the Executive without Good Reason, the Executive shall be entitled to a continuation of Executive’s benefits for two years.
		
	Termination:	  	 Upon a termination of the Executive’s employment, all payments and benefits shall be structured, or delayed to the minimum extent required,
to avoid additional tax under § 409A of the IRC.
 Upon a termination of the Executive’s employment during the Employment Term by the Company
without Cause or by the Executive for Good Reason, the Executive shall be entitled, upon execution of a general waiver and release of claims against the Company and its affiliates, to:
  
 (i)      earned but unpaid
Base Salary and Target Bonus as of the termination date (“Accrued Compensation”)
  
 (ii)     a lump sum pro rata portion of Executive’s Target Bonus for the year of termination
(“Pro Rata Bonus”)
  
 (iii)    settlement of 100% of the Executive’s Deferral Account balance, as described above
  
 (iv)    100% vesting and settlement of the RSU Award, as described above

		
		  	 Upon a termination of the Executive’s employment during the Employment Term due to death or disability, the Executive, or the
Executive’s estate, shall be entitled to receive:
  
 (i)      Accrued Compensation
  
 (ii)     Pro Rata Bonus
  
 (iii)    settlement of 100% of the Executive’s Deferral Account balance as described above
  
 (iv)    100% vesting and settlement of
the RSU Award, as described above

		
		  	 Upon a termination of the Executive’s employment during the Employment Term by the Company for Cause or by the Executive without Good Reason,
the Executive shall be entitled to:
  
 (i)      Accrued Compensation
  
 (ii)     settlement of 100% of the Executive’s Deferral Account balance as described above

		
		  	In the event of a termination of the Executive’s employment during the Employment Term by the Company for Cause or by the Executive without Good Reason, the Executive will forfeit the
RSU Award.

			
		  	For purposes of this Term Sheet, “Good Reason” shall mean: (i) an involuntary relocation of Executive’s principal place of employment outside a 35-mile radius of
Executive’s principal place of employment as of the Effective Time, (ii) a material diminution in Executive’s position, duties and responsibilities or reporting relationship specified above, (iii) an assignment of any duties or
responsibilities to the Executive which are inconsistent with Executive’s status as a senior executive of the Company, (iv) a reduction in Executive’s Base Pay or Target Bonus or (v) a reduction in Executive’s benefits and perquisites
below the level provided to similarly situated executives of the Company.
		
		  	 For purposes of this Term Sheet, “Cause” means (i) the Executive’s willful and continued failure to perform
Executive’s duties hereunder after written demand is delivered by the Company to the Executive specifying the manner in which the Executive has failed to perform such duties; (ii) the Executive’s misappropriation of any significant
assets or opportunities of the Company; (iii) willful conduct by the Executive which is demonstrably injurious to the Company; (iv) the Executive’s breach of the Restrictive Covenants below; provided that no termination shall be for
Cause unless the Executive has been provided a reasonable “cure” period after notice from the Company, to the extent susceptible of cure.
  
 Notwithstanding anything to the contrary, in the event the Executive’s employment with the Company is terminated by the Company without Cause (other than due to
death or disability) or in the event there is a Termination Without Cause, in either case during the Employment Term and within two years following a Change in Control of the Company, the Executive shall be entitled to receive the following benefits
in lieu of the benefits described above:
  
 (i)      Accrued Compensation
  
 (ii)     Pro Rata Bonus
  
 (iii)    an amount equal to 1.5 times the sum of Executive’s Base Salary and Target Bonus payable in a
cash lump sum promptly (but in no event later than 15 days) following the Executive’s termination of employment

			
		  	 (iv)    settlement of 100% of Executive’s Deferral Account balance (as described
above), 100% vesting and settlement of the RSU Award (as described above) and elimination of all restrictions on any restricted or deferred stock awards outstanding at the time of termination of employment (other than awards under the Company’s
Partnership Equity Program, which shall be governed by the terms of such awards)
  
 (v)     immediate vesting of all outstanding stock options and the right to exercise such stock options
as per terms of the plan under which the awards were granted
  
 (vi)    the balance of any incentive awards earned as of December 31 of the prior year (but not yet paid), which shall be paid in a single lump sum not later than 15 days following the
Executive’s termination of employment
  
 (vii)   settlement of all deferred compensation arrangements in accordance with any then applicable deferred compensation plan or election form
  

(viii)  continued participation in all medical, health and life insurance plans at the same benefit level at which
he/she was participating on the date of termination of Executive’s employment until the earlier of:
  
 (A)   the end of the 18 months following the termination of employment, or
  
 (B)    the date, or dates, he/she
receives equivalent coverage and benefits under the plans and programs of a subsequent employer
  
 (ix)    other or additional benefits then due or earned in accordance with applicable plans and programs of
the Company
  
 The term “Change in Control” is defined on Attachment A
hereto.
  
 “Termination Without Cause” shall mean a termination following
a Change in Control of the Company of the Executive’s employment at Executive’s initiative following the occurrence,

			
		  	 without the Executive’s written consent, of one or more of the following events (except as a result of a prior termination):
  
 (i)      the assignment of any
duties to Executive which are inconsistent with Executive’s status as a member of the Company’s senior management,
  
 (ii)     a decrease in the Executive’s annual Base Salary or Target Bonus,
  
 (iii)    any failure to secure the
agreement of any successor corporation or other entity to the Company to fully assume the Company’s obligations under this Agreement,
  
 (iv)    a relocation of Executive’s principal place of employment more than 35 miles from
Executive’s place of employment before such relocation,
  
 (v)     a diminution in Executive’s position, duties and responsibilities or reporting relationship specified above, or
  
 (iv)    a reduction in Executive’s
benefits and perquisites below the level provided to similarly situated executives of the Company.

		
	Restrictive Covenants:	  	For the period commencing at the Effective Time and ending on the second anniversary of the termination of Executive’s employment with the Company for any reason, the Executive shall
not, without the Company’s prior written consent (i) directly or indirectly, establish, engage, own, manage, operate, join or control, or participate in the establishment, ownership, management, operation or control or be a director, officer,
employee, salesman, agent or representative of, or be a consultant to, any person or entity in any business in competition with the Company or its subsidiaries in any state where the Company or any of its affiliates are then conducting, any
business; or (ii) directly or indirectly, in any capacity, for the benefit of any person or entity, solicit, interfere with, hire, or divert, any person who is a customer, patient, supplier, employee, salesman, agent or representative of the Company
or its subsidiaries, in connection with any business in competition with the Company or its subsidiaries. The Executive acknowledges and agrees that the restrictive covenants above and the covenants of the Executive below are essential to the
Company.

			
		  	 At no time shall the Executive divulge any secret or confidential information, knowledge or data relating to the Company or any of its affiliates
which the Executive has obtained in connection with Executive’s employment or services on behalf of the Company or any predecessors and which has not become public knowledge (other than by the Executive’s violation of the
foregoing).
  
 The foregoing Restrictive Covenants shall be enforceable by injunction, it
being agreed that the damages suffered by the Company from any breach or threatened breach of these Restrictive Covenants could not be adequately remedied solely by monetary damages alone.

		
	Cooperation:	  	The Executive agrees to cooperate with the Company, during the Employment Term and thereafter (including following Executive’s termination of employment for any reason), by making
himself reasonably available to testify on behalf of the Company or any of its subsidiaries in any action, suit, or proceeding, whether civil, criminal, administrative, or investigative, and to assist the Company, or any its Subsidiaries, in any
such action, suit, or proceeding, by providing information and meeting and consulting with the board of directors of the Company or its representatives or counsel, or representatives or counsel to the Company, or any of its subsidiaries as
reasonably requested; provided, however, that the same does not materially interfere with Executive’s then current professional activities. The Company agrees to reimburse Executive, on an after-tax basis, for all expenses actually
incurred in connection with Executive’s provision of testimony or assistance.
		
	Excise Tax:	  	To the extent that any payments or benefits received by the Executive as a result of the Merger or the Executive’s Deferral Account or RSU Award result in an excise tax payable by the
Executive under IRC § 4999, the Company shall promptly pay to the Executive an additional amount necessary to place the Executive in the after-tax position that Executive would be in if IRC § 4999 did not apply with respect to the payments
or benefits received by the Executive in connection with the Merger and this Term Sheet; provided, however, that any payment of such amount to the Executive shall be delayed to the minimum extent necessary to avoid the imposition of additional tax
under § 409A of the IRC.
		
	Governing Law:	  	The agreements embodied in this Term Sheet and the accompanying letter agreement (collectively the “Present Agreement”) shall be construed under and governed by the internal
laws of the State of Rhode Island, without regard to Rhode Island’s choice of law rules. The Company and the Executive hereby consent to the jurisdiction of any or all of the following

			
		  	courts for purposes of resolving any dispute with respect to the agreements made hereunder: (i) the United States District Court for Rhode Island or (ii) any of the courts of the State of
Rhode Island. The Company and Executive further agree that any service of process or notice requirements in any such proceeding shall be satisfied if the rules of such court relating thereto have been substantially satisfied. The Company and
Executive hereby waive, to the fullest extent permitted by applicable law, any objection which it or Executive may now or hereafter have to such jurisdiction and any defense of inconvenient forum. Notwithstanding the foregoing, the Company may seek
equitable relief for Executive’s violation of the restrictive covenants above, and may seek to enforce any judgment in any appropriate court or jurisdiction. If the Executive incurs any legal expenses to enforce Executive’s rights under
the Present Agreement or the resulting Employment Agreement, the Company shall pay all of Executive’s reasonable and proper legal expenses and any related expenses, including any reasonable expenses for travel to and stay in the State of Rhode
Island to enforce such rights, unless the Executive’s claims are found to have been frivolous by the relevant court.
		
	Effectiveness:	  	The operative effect of the agreements embodied in the Present Agreement are conditioned upon (i) the occurrence under the Merger Agreement of the Closing, as defined in the Merger Agreement
(the “Closing”) and (ii) Executive’s continued employment by Caremark as of the date immediately preceding the Closing Date as defined in the Merger Agreement. If these conditions are satisfied, effective as of the Effective Time,
Executive shall transfer Executive’s employment from Caremark to the Company and the Present Agreement shall supersede and prospectively render null and void the Caremark Agreement. For the avoidance of doubt, if the conditions above are
satisfied, Executive shall not be entitled to receive any benefits under the Caremark Agreement. If the Closing does not occur prior to the End Date (as defined in the Merger Agreement and any amendment to the Merger Agreement) (the “End
Date”) then effective as of the End Date the Present Agreement shall be deemed null and void ab initio and shall be of no force or effect and the Caremark Agreement shall remain in full force and effect in accordance with its terms. If
Executive’s employment by Caremark terminates prior to the Closing Date, then effective as of the date of such termination of employment, the Present Agreement shall become null and void ab initio and shall be of no force or effect and the
Caremark Agreement (including the restrictive covenants thereunder) shall remain in full force and effect in accordance with its terms.

 Attachment A 
 Definition of Change in Control of the Company 
 “Change in Control of the Company”
shall be deemed to have occurred if: 
 (i) any Person (other than the Company, any trustee or other fiduciary holding
securities under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders of the Company immediately prior to the occurrence with respect to which the evaluation is being made in substantially the
same proportions as their ownership of the common stock of the Company) becomes the Beneficial Owner (except that a Person shall be deemed to be the Beneficial Owner of all shares that any such Person has the right to acquire pursuant to any
agreement or arrangement or upon exercise of conversion rights, warrants or options or otherwise, without regard to the sixty day period referred to in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company or any
Significant Subsidiary (as defined below), representing 25% or more of the combined voting power of the Company’s or such subsidiary’s then outstanding securities; 
 (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board, and any new
director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (i), (iii), or (iv) of this paragraph) whose election by the Board or nomination for election
by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so
approved but excluding for this purpose any such new director whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the
Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, corporation, partnership, group, associate or other entity or Person other than the Board, cease for any reason to constitute at least
a majority of the Board; 
 (iii) the consummation of a merger or consolidation of the Company or any subsidiary owning
directly or indirectly all or substantially all of the consolidated assets of the Company (a “Significant Subsidiary”) with any other entity, other than a merger or consolidation which would result in the voting securities of the
Company or a 

  

 A-1 

 
Significant Subsidiary outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting
securities of the surviving or resulting entity) more than 50% of the combined voting power of the surviving or resulting entity outstanding immediately after such merger or consolidation; 
 (iv) the stockholders of the Company approve a plan or agreement for the sale or disposition of all or substantially all of the
consolidated assets of the Company (other than such a sale or disposition immediately after which such assets will be owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the
common stock of the Company immediately prior to such sale or disposition) in which case the Board shall determine the effective date of the Change in Control resulting therefrom; or 
 (v) any other event occurs which the Board determines, in its discretion, would materially alter the structure of the Company or its
ownership. 
 For purposes of this definition: 
 “Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under the Exchange Act (including any successor to such Rule). 
 “Board” means the board of directors of the Company. 
 “Exchange Act” means the Securities
Exchange Act of 1934, as amended from time to time, or any successor act thereto. 
 “Person” shall have the meaning ascribed to such term
in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including “group” as defined in Section 13(d) thereof. 
 For the avoidance of doubt, the Merger shall not constitute a Change in Control of the Company. 
  

 A-2Forms of Ex-US Stock Option Grant and RSU Agreements

 Exhibit 10.2 
 GRANT OF NONQUALIFIED STOCK OPTION 
 (EX-U.S.) 
                                        
 , Amgen Inc. Stock Optionee: 
 AMGEN INC., a Delaware corporation (the “Company”), pursuant to its Director Equity
Incentive Program (the “Program”) under the Amended and Restated 1991 Equity Incentive Plan (the “Plan”), has this day granted to you, the optionee named above, an option to purchase
             shares of the $.0001 par value common stock of the Company (“Common Stock”) pursuant to the terms hereof. This option is not intended to qualify and
will not be treated as an “incentive stock option” within the meaning of Section 422 of the U.S. Internal Revenue Code of 1986, as amended (together with the regulations and other official guidance promulgated thereunder) (the
“Code”). 
 The provisions of your option are as follows: 
 1. [Subject to the limitations contained herein, this option shall vest on [grant date]. [Subject to the provisions contained herein, this option shall vest on [one year from grant date], provided that
from the date of grant of this option through the vesting date, you have continuously served as a non-employee director of the Company (as that term is defined in the Plan).] 
 2.    (a) The per share exercise price of this option is $            , being not less than the fair market value of the Common
Stock on the date of grant of this option. 
 (b) To the extent permitted by applicable statutes and regulations, payment of the exercise
price per share is due in full in cash or check upon exercise of all or any part of this option which has become exercisable by you. However, if at the time of exercise, the Company’s Common Stock is publicly traded and quoted regularly in the
Wall Street Journal, payment of the exercise price may be made by delivery of already-owned shares of Common Stock of a value equal to the exercise price of the shares of Common Stock for which this option is being exercised. The
already-owned shares must have been owned by you for the period required to avoid a charge to the Company’s reported earnings and owned free and clear of any liens, claims, encumbrances or security interests. Payment may also be made by a
combination of cash and already-owned Common Stock. 
 3. Notwithstanding anything to the contrary contained herein, this option may not be exercised unless
the shares issuable upon exercise of this option are then registered under the U.S. Securities Act of 1933, as amended (the “Act”), or, if such shares are not then so registered, the Company has determined that such exercise and
issuance would be exempt from the registration requirements of the Act. 
 [4. The term of this option commences on the date hereof and, unless sooner
terminated pursuant to the Plan, terminates on              (which date shall be no more than seven (7) years from the date this option is granted).] 
  

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 [4. The term of this option commences on the date hereof and, unless sooner terminated pursuant to the Plan, terminates
on              (which date shall be no more than seven (7) years from the date this option is granted). If termination of your relationship as a director of the Company is due
to (a) your permanent and total disability (as certified by an independent medical advisor appointed by the Company prior to such termination), or (b) your death, then the vesting schedule of unvested portions of the option will be
accelerated by twelve (12) months for each full year that you have been affiliated as a director with the Company. 
 However, in any and
all circumstances and except to the extent the vesting schedule has been accelerated by the Company in its sole discretion during the term of this option or as a result of your permanent and total disability or death as provided above, this option
may be exercised following termination of your relationship as a director of the Company only as to that number of shares as to which it was exercisable on the date of such termination provisions of paragraph 1 of this option. For purposes of this
option, “termination of your relationship as a director of the Company” shall mean the last date you are a director of the Company.] 
 5. To the
extent specified above, this option may be exercised by delivering a Notice of Exercise of Stock Option form, together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular
business hours, together with such additional documents as the Company may then require pursuant to section 5 of the Plan. 
 6. This option is not
transferable, except as set forth below: 
 (a) By will or the laws of descent and distribution; and 
 (b) The transfer of the option by the optionee named above to a Trust or an Alternate Payee (in each case, as defined in and pursuant to the terms of the
Plan). 
 7. This option is exercisable during your life only by you, except that, to the extent the option or any portion thereof is transferred to an
Alternate Payee or a Trust in accordance with the terms of the Plan and Section 6(b) above, such Alternate Payee or Trust may exercise the option or such portion thereof so transferred. 
 8. This option is not an employment or consulting contract and nothing in this option shall be deemed to create in any way whatsoever any obligation on the part of the
non-employee director on whose behalf the option right was created, to continue to serve as a director of the Company, or of the Company to continue such non-employee director’s service as a director of the Company. 
 9. Any notices provided for in this option or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered
by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the address specified below or at such other address as you hereafter designate by written notice to the Company. 
  

 - 2 - 

	10.	In accepting this option, you acknowledge that: 

 (a) the
Plan is established voluntarily by the Company, is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time; 
 (b) the grant of this option is voluntary and occasional and does not create any contractual or other right receive future options, or benefits in lieu of options, even if options have been granted repeatedly in the
past; 
 (c) your participation in the Program and Plan is voluntary; 
 (d) all decisions with respect to future grants of options, if any, will be at the sole discretion of the Company; 
 (e) the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty; 
 (f) if the underlying shares of Common Stock do not increase in value, this option will have no value; if you exercise this option and obtain shares of
Common Stock, the value of those shares acquired upon exercise may increase or decrease in value, even below the exercise price; 
 (g) in
consideration of this option, no claim or entitlement to compensation or damages shall arise from forfeiture of this option resulting from termination of your service as a director (for any reason whatsoever and whether or not in breach of local
labor laws) and you irrevocably release the Company from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, you shall be deemed irrevocably to have waived
your entitlement to pursue such claim; and 
 (h) this option and benefits under the Program and Plan, if any, will not automatically transfer
to another company in the case of a merger, takeover or transfer of liability. 
 12. The Company is not providing any tax, legal or financial advice, nor is
the Company making any recommendations regarding your participation in the Program and Plan, or your acquisition or sale of the underlying shares of Common Stock. You are hereby advised to consult your own personal tax, legal and financial advisors
regarding your participation in the Plan before taking any action related to the Program and Plan. 
 13.  (a) You hereby explicitly and
unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this option by and among, as applicable, the Company or Affiliates of the Company for the exclusive purpose of
implementing, administering and managing your participation in the Program and Plan. 
 (b) You understand that the Company or Affiliates of
the Company may hold certain personal information about you, including, without limitation, your name, home address and 

  

 - 3 - 

 
telephone number, date of birth, social insurance number (to the extent permitted under applicable local law) or other identification number, salary,
nationality, job title, residency status, any shares of stock or directorships held in the Company, details of all equity compensation or any other entitlement to shares awarded, canceled, vested, unvested or outstanding in your favor, for the
purpose of implementing, administering and managing the Program and Plan (“Data”). You understand that Data may be transferred to UBS Financial Services, Inc. or any third parties assisting in the implementation, administration and
management of the Program and Plan, that these recipients may be located in your country or elsewhere including outside the European Economic Area, and that the recipient’s country (e.g., the United States) may have different data privacy laws
and protections than Belgium. You understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting the Company. You authorize the Company, Affiliates of the Company, UBS Financial Services,
Inc. and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering, and managing your participation in the Program and Plan to receive, possess, use, retain and transfer the Data, in
electronic or other form, for the sole purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required to any other broker, escrow agent or other third party with
whom the shares received upon exercise of this option may be deposited. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Program and Plan. You understand that you may,
at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Company. You
understand that refusal or withdrawal of consent may affect your ability to participate in the Program and Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact the
Company. 
 14. If you have received this option or any other document related to the Program and Plan translated into a language other than English and if
the meaning of the translated version differs from the English version, the English version shall control. 
 15. The Company may, in its sole discretion,
decide to deliver any documents related to current or future participation in the Program and Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Program and Plan through an
online or electronic system established and maintained by the Company or a third party designated by the Company. 
 16. The provisions of this option are
severable and if any one or more are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 
 17. This option is subject to all the provisions of the Program and Plan and their provisions are hereby made a part of this option, including without limitation the provisions of section 5 of the Plan relating to
option provisions, and is further subject to all interpretations, amendments, rules, and regulations which may from time to time be promulgated and adopted pursuant to the 

  

 - 4 - 

 
Plan. In the event of any conflict between the provisions of this option and those of the Plan, the provisions of the Program and Plan shall control.

 18. The terms of this option shall be governed by the laws of the State of Delaware without giving effect to principles of conflicts of laws. For purposes
of litigating any dispute that arises hereunder, the parties hereby submit to and consent to the jurisdiction of the State of Delaware, or the federal courts for the United State for the federal district located in the State of Delaware, and no
other courts, where this agreement is made and/or to be performed. 
 19. This option is not intended to constitute “nonqualified deferred
compensation” within the meaning of Code Section 409A, but rather is intended to be exempt from the application of Code Section 409A. To the extent that this option is nevertheless deemed to be subject to Code Section 409A for
any reason, this option shall be interpreted in accordance with Code Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that
may be issued after the Grant Date. Notwithstanding any provision herein to the contrary, in the event that following the Grant Date, the Committee (as defined in the Plan) determines that this option may be or become subject to Code
Section 409A, the Committee may adopt such amendments to the Plan and/or this option or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee
determines are necessary or appropriate to (a) exempt the Plan and/or this option from the application of Code Section 409A and/or preserve the intended tax treatment of the benefits provided with respect to this option, or (b) comply
with the requirements of Code Section 409A. 
 20. The Company reserves the right to impose other requirements on your participation in the Program and
Plan, on this option and on any shares of Common Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the plan, and to require you to
sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
  

 - 5 - 

 Dated the          day of
                        . 
  

			
	 Very truly yours,
  
 AMGEN INC.
  

		
	By: 	 	 
		 	 Duly authorized on behalf
 of the Board of Directors

 Agreed and accepted as of the date written above: 
  

	
	
	
	 
	 [name]
 Address:

  

 - 6 - 

 RESTRICTED STOCK UNIT AGREEMENT 
 (EX- U.S.) 
                                        
 , Amgen Inc. Grantee: 
 On this          day of
             (the “Grant Date”), Amgen Inc., a Delaware corporation (the “Company”), pursuant to its Director Equity Incentive Program (the
“Program”) which implements the Amended and Restated 1991 Equity Incentive Plan, as amended (the “Plan”), has granted to you, the grantee named above,
             restricted stock units (the “Units”) with respect to              shares of Common
Stock on the terms and conditions set forth in this Restricted Stock Unit Agreement (this “Agreement”) and the Plan. Capitalized terms not defined herein shall have the meanings assigned to such terms in the Program. 
 I. Vesting Schedule. Subject to the terms and conditions of this Agreement and in consideration for services previously rendered by you, one
hundred percent (100%) of the Units shall vest upon [the date hereof (the “Vesting Date”)][the date (the “Vesting Date”) upon which you have provided one year of continuous service following the Grant Date;
provided, however, that in the event you cease to be an Eligible Director by reason of your death or total and permanent disability (as certified by an independent medical advisor appointed by the Company prior to such termination), a
prorated number of Units shall vest immediately upon such death or disability, determined by multiplying the number of unvested Units by a fraction (rounded to two decimal places), the numerator of which is the number of complete months of
continuous service during the one year period following the Grant Date and the denominator of which is 12.] 
 II. Form and Timing of
Payment. Any vested Units shall be paid by the Company in shares of Common Stock (on a one-to-one basis) on, or as soon as practicable after, the Vesting Date (but in any event by the fifteenth day of the third month following the tax year in
which they vest), unless you have irrevocably elected in writing by December 31 of the year preceding the Grant Date to defer the payment of such Units under one of the following options: (i) full payment of the vested Units in January of
a year specified by you which shall be no earlier than the third calendar year following the calendar year in which the date of grant occurs and no later than the tenth calendar year following such year, (ii) full payment of the vested Units in
January of the calendar year following the year in which you cease to be an Eligible Director (and experience a “separation from service” with the Company within the meaning of U.S. Internal Revenue Code (“Code”)
Section 409A) for any reason, (iii) payment of the vested Units in five substantially equal annual installments, commencing in January of the calendar year following the year in which you cease to be an Eligible Director (and experience a
“separation from service” with the Company within the meaning of Code Section 409A) for any reason, or (iv) payment of the vested Units in ten substantially equal annual installments, commencing in January of the calendar year
following the year in which you cease to be an Eligible Director (and experience a “separation from service” with the Company within the meaning of Code Section 409A) for any reason; provided, however, that no shares of Common
Stock shall be issued hereunder unless the Board determines that the consideration received by the Company in exchange for the issuance of Common Stock has a value not less than the par value thereof. Any 

 
deferral election made pursuant to this Section II shall specify the distribution schedule from the options provided in this Section II and shall be
irrevocable. 
 III. Transferability. No benefit payable under, or interest in, this Agreement shall be subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge and any such attempted action shall be void and no such benefit or interest shall be, in any manner, liable for, or subject to, your or your beneficiary’s
debts, contracts, liabilities or torts; provided, however, nothing in this Section III shall prevent transfer (i) by will, (ii) by applicable laws of descent and distribution or (iii) to an Alternate Payee to the extent that a
QDRO so provides, as further described in the Program. 
 IV. No Contract for Employment. This Agreement is not an employment or
service contract and nothing in this Agreement shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ or service of the Company, or of the Company to continue your employment or service with the
Company. 
 V. Notices. Any notices provided for in this Agreement or the Plan shall be given in writing and shall be deemed
effectively given upon receipt or, in the case of notices delivered by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at such address as is currently maintained in the Company’s
records or at such other address as you hereafter designate by written notice to the Company. 
 VI. Nature of Grant. In accepting the
Units granted hereunder, you acknowledge that: 
 (a) the Plan is established voluntarily by the Company, is discretionary in nature and may
be modified, amended, suspended or terminated by the Company at any time; 
 (b) the grant of the Units is voluntary and occasional and does
not create any contractual or other right to receive future grants of Units, or benefits in lieu of Units, even if Units have been granted repeatedly in the past; 
 (c) your participation in the Plan is voluntary; 
 (d) all decisions with respect to future awards, if any,
will be at the sole discretion of the Company; 
 (e) the future value of the underlying shares of Common Stock is unknown and cannot be
predicted with certainty; 
 (i) in consideration of the grant of the Units, no claim or entitlement to compensation or damages shall arise
from forfeiture of the Units resulting from termination of your service as an director (for any reason whatsoever and whether or not in breach of local labor laws) and you irrevocably release the Company from any such claim that may arise; if,
notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, you shall be deemed irrevocably to have waived your entitlement to pursue such claim; and 
  

 - 2- 

 (j) the Units and the benefits under the Program and Plan, if any, will not automatically transfer to
another company in the case of a merger, takeover or transfer of liability. 
 VII. No Advice Regarding Grant. The Company is not
providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Program and Plan, or your acquisition or sale of the underlying shares of Common Stock. You are hereby advised to consult
with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Program and Plan. 
 VIII. Data Privacy. You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Agreement by and among, as
applicable, the Company or Affiliates of the Company for the exclusive purpose of implementing, administering and managing your participation in the Program and Plan. 
 You understand that the Company or Affiliates of the Company may hold certain personal information about you, including, without limitation, your name, home address and telephone number, date of birth, social
insurance number (to the extent permitted under applicable local law) or other identification number, salary, nationality, job title, residency status, any shares of stock or directorships held in the Company, details of all equity compensation or
any other entitlement to shares awarded, canceled, vested, unvested or outstanding in your favor, for the purpose of implementing, administering and managing the Program and Plan (“Data”). You understand that Data may be transferred to UBS
Financial Services, Inc. or any third parties assisting in the implementation, administration and management of the Program and Plan, that these recipients may be located in your country or elsewhere including outside the European Economic Area, and
that the recipient’s country (e.g., the United States) may have different data privacy laws and protections than Belgium. You understand that you may request a list with the names and addresses of any potential recipients of the Data by
contacting the Company. You authorize the Company, Affiliates of the Company, UBS Financial Services, Inc. and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering, and managing
your participation in the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing your participation in the Program and Plan, including any requisite
transfer of such Data as may be required to any other broker, escrow agent or other third party with whom the shares issued upon vesting of the Units may be deposited. You understand that Data will be held only as long as is necessary to implement,
administer and manage your participation in the Program and Plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or
withdraw the consents herein, in any case without cost, by contacting in writing the Company. You understand that refusal or withdrawal of consent may affect your ability to participate in the Program and Plan. For more information on the
consequences of your refusal to consent or withdrawal of consent, you understand that you may contact the Company. 
  

 - 3 - 

 IX. Language. If you have received this Agreement or any other document related to the Program and
Plan translated into a language other than English and if the meaning of the translated version differs from the English version, the English version shall control. 
 X. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Program and Plan by electronic means. You hereby consent to
receive such documents by electronic delivery and agree to participate in the Program and Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company. 
 XI. Severability. The provisions of this Agreement are severable and if any one or more are determined to be illegal or otherwise unenforceable, in
whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 
 XII. Plan and Program. This Agreement is
subject to all the provisions of the Plan and Program and their provisions are hereby made a part of this Agreement, including without limitation the provisions of paragraph 7 of the Plan relating to stock bonuses, and is further subject to all
interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of this Agreement and those of the Plan and the Program, the
provisions of the Plan shall control. 
 XIII. Governing Law. This Agreement shall be construed and interpreted, and the rights of the
parties shall be determined, in accordance with the laws of the State of Delaware, without regard to conflicts of law provisions thereof. For purposes of litigating any dispute that arises hereunder, the parties hereby submit to and consent to the
jurisdiction of the State of Delaware, or the federal courts for the United States for the federal district located in the State of Delaware, and no other courts, where this Agreement is made and/or to be performed. 
 XV. Imposition of Other Requirements. The Company reserves the right to impose other requirements on your participation in the Program and Plan, on
the Units and on any shares of Common Stock acquired under the Program and Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Program and Plan, and to
require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
  

			
	 Very truly yours,
  
 AMGEN INC.
  

		
	By: 	 	 
	Name: 	 	
	Title: 	 	

  

			
	 Accepted and Agreed,
  
 this              day of
                    , 200  .
  

		
	By: 	 	 
	Name: 	 	

  

 - 4 -

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