Document:

exv10w18

 

Exhibit 10.18

AFFILIATED COMPUTER SERVICES, INC.

CLASS A COMMON STOCK

NOTICE OF NONSTATUTORY STOCK OPTION GRANT

WITHIN THE UNITED KINGDOM TO

 

     You have been granted an option to purchase Class A Common Stock of Affiliated Computer
Services, Inc. (the “Company”) as follows:

	 	 	 	 	 
	 

	 	Option Number	 	 
	 
	 	 	 	 
	 

	 	Date of Grant	 	 
	 
	 	 	 	 
	 

	 	Number of Shares	 	 
	 
	 	 	 	 
	 

	 	Option Price Per Share 	 	$
	 
	 	 	 	 
	 

	 	Term/Expiration Date
	 	Earlier of 10 years from the Date of Grant or 90 days of termination of
employment for any reason other than Retirement.
	 
	 	 	 	 
	 

	 	Vesting Schedule
	 	60% as of the date that is three years after the Date of Grant, and 20%
annually on each anniversary of the Date of Grant thereafter, or earlier in certain
events as expressly provided in the Stock Option Agreement and 1997 Stock Incentive
Plan.
	 
	 	 	 	 
	 

	 	Exercise Schedule
	 	Options may be exercised on or after the date of vesting and until the
expiration date.

By your signature and the signature of the Company’s representative below, you and the Company
agree that this option is granted under and governed by the terms and conditions of the Company’s
1997 Stock Incentive Plan and the Stock Option Agreement attached hereto as Exhibit “A” and made a
part of this document.

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	AFFILIATED
COMPUTER SERVICES, INC.

	 	 	 	OPTIONEE:	 	 
	 
	 	 	 	 	 	 	 	 
	BY:
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	WILLIAM L. DECKELMAN, JR.

EXECUTIVE VICE PRESIDENT

& GENERAL COUNSEL	 	 	 	 	 	 

 

 

EXHIBIT “A”

AFFILIATED COMPUTER SERVICES, INC.

STOCK OPTION AGREEMENT FOR THE UNITED KINGDOM

     THIS STOCK OPTION AGREEMENT (this “Agreement”), effective as of the date of the Notice of
Grant (as hereinafter defined) to which it is attached shall, along with the Plan (as hereafter
defined), govern the terms of the Notice of Grant by and between Affiliated Computer Services,
Inc., a Delaware corporation (the “Company”), and the Optionee identified in the Notice of Grant
(“Optionee”). Capitalized terms not otherwise defined in this Agreement have the meanings ascribed
to such terms in the Plan.

WITNESSETH

     WHEREAS, the Company has adopted the Affiliated Computer Services 1997 Stock Incentive Plan
(the “Plan”), which provides for the grant of stock options to certain selected Non-Employee
Directors, Employees and consultants of the Company or its subsidiaries with respect to shares of
the Company’s Class A Common Stock, par value $.01 per share (“Common Stock”);

     WHEREAS, the stock options provided for under the Plan are intended to comply with the
requirements of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”); and

     WHEREAS, the Company has selected Optionee to participate in the Plan and desires to award to
Optionee the stock option described in this Agreement.

     NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
herein contained, as an inducement to Optionee to continue as a director, employee or consultant of
the Company or its subsidiaries and to promote the success of the business of the Company and its
subsidiaries, the parties hereby agree as follows:

     1. Grant of Option. The Company hereby grants to Optionee, upon the terms and subject
to the conditions, limitations and restrictions set forth in this Agreement, the Plan (which Plan
is incorporated herein by reference), and the Notice of Nonstatutory Stock Option Grant dated as of
the date of this Agreement (the “Notice of Grant”), an option (the “Option”) to acquire a total
number of shares of Common Stock (the “Shares”) as set forth in the Notice of Grant, at the
exercise price per share set forth in the Notice of Grant, such grant to be effective as of the
date of grant designated in the Notice of Grant (the “Award Date”). The Shares of Common Stock
subject to the Option shall vest in accordance with the vesting schedule set forth in the Notice of
Grant (the “Vesting Schedule”) and shall be exercisable in accordance with the exercise schedule
set forth in the Notice of Grant (the “Exercise Schedule”).

Affiliated Computer Services, Inc.

U.K. Stock Option Agreement — Page 1 of 6

 

 

     2. Defined Terms. In this Agreement, the following definitions shall apply.

          (i) “Employer” means, in relation to the Optionee, the Company, or any Parent or Subsidiary,
as is or, if the Optionee has ceased to be employed by any such company, was the Optionee’s
employer or any other such company or other person as, under any applicable statutory or regulatory
enactment, is obliged to account for any Option Tax Liability.

          (ii) “NICs” means National Insurance contributions.

          (iii) “Option Tax Liability” means, in relation to the Optionee, any liability of the
Optionee’s Employer to account to the Inland Revenue for any amount of, or representing, income tax
or NICs (including employer’s NICs under Section 4 of this Agreement) on any gain realized on
exercise, assignment or release of the Option, being a gain that is treated as remuneration derived
from the Optionee’s employment by virtue of section 4(4)(a) of the Social Security Contributions
and Benefits Act 1992.

          (iv) “Retirement” for purposes of this Agreement only means, in relation to the Optionee,
termination of employment at or after the age at which the Optionee is required to retire under the
terms of his or her contract of employment or service agreement or, if none, attainment of age 60.

     3. Optionee’s Tax Indemnity. The Optionee hereby indemnifies his or her Employer
against any Option Tax Liability and further agrees that, if any Option Tax Liability arises on any
occasion, then unless either:

          (i) the Optionee’s Employer is able to withhold the amount of such Option Tax Liability from
payment of his or her remuneration, within the period of 30 days from the date of exercise of the
Option; or

          (ii) the Optionee has indicated in writing to his or her Employer, either in the notice of
exercise or in any other manner acceptable to the Company, that he or she will make a payment of an
amount equal to the Option Tax Liability and does in fact make such payment within 14 days of being
notified of such amount;

the Company shall be entitled to sell sufficient of the shares acquired in pursuance of the Option
and to procure payment to the Optionee’s Employer out of the net proceeds of sale of such shares
monies sufficient to satisfy such Option Tax Liability and shall further be entitled not to issue
or transfer or procure the transfer of any shares to the Optionee until the Optionee’s Employer has
been fully reimbursed for such Option Tax Liability.

     4. Payment of Employer’s NICs. The Optionee hereby agrees and undertakes to the
Company and to his or her Employer:

          (i) that the Optionee’s Employer may recover from the Optionee the whole or any part of any
employer’s NICs payable in respect of any gain realized on exercise, assignment or release of the
Option;

Affiliated Computer Services, Inc.

U.K. Stock Option Agreement — Page 2 of 6

 

 

          (ii) that the Optionee will, if and when so requested by the Company before the Option is
first exercised, make a joint election with the Optionee’s Employer, in a form satisfactory to the
Company and to the Inland Revenue, for any liability of the Optionee’s Employer to employer’s NICs
payable in respect of any gain realized on exercise, assignment or release of the Option to be
transferred to the Optionee; and

          (iii) that the Secretary or any Assistant Secretary of the Company is hereby appointed as the
Optionee’s lawful attorney during the period ending with the first date on which the Option is
exercised, for the purpose of executing, in the name of and on behalf of the Optionee, a joint
election as referred to in sub-paragraph (ii) above, such power of attorney being given by way of
security for the performance of the Optionee’s obligation to make such joint election and being
irrevocable in accordance with section 4 of the Powers of Attorney Act 1971.

     5. Exercise of Option. This Option shall be exercisable during its term in accordance
with the Exercise Schedule and with the provisions of Section 9 of the Plan as follows:

          (i) Right to Exercise.

               (a) The Option may not be exercised for a fraction of share.

               (b) In the event of the Optionee’s death, disability or other termination of employment, the
exercisability of the Option is governed by Sections 9 and 10 of the Plan, subject to the
limitation contained in subsections (c), (d) and (e) of this Section 2(i).

               (c) In no event may the Option be exercised after the date of expiration of the term of the
Option as set forth in the Notice of Grant.

               (d) The Option may be exercised only with respect to the vested portion thereof in accordance
with the Notice of Grant.

               (e) Upon the Optionee’s termination of employment for any reason other than Retirement, the
Option may be exercised only (i) with respect to the portion of the Option that was vested upon the
Optionee’s termination of employment and (ii) for a period of 90 days after the Optionee’s
termination of employment.

          (ii) Method of Exercise. The Option shall be exercisable by written notice, which
notice shall state Optionee’s election to exercise the Option and the number of Shares in respect
of which the Option is being exercised. Such written notice shall be signed by Optionee and shall
be delivered in person or by certified mail to the Secretary of the Company. The written notice
shall be accompanied by payment of the exercise price and by evidence satisfactory to the Company
that such arrangements have been made as the Company may from time to time reasonably require to
ensure that any Option Tax Liability will be reimbursed to the Optionee’s Employer. The Option
shall be deemed to be exercised upon receipt by the Company of such written notice accompanied by
the exercise price and such evidence as aforesaid. No Shares will be issued pursuant to the
exercise of the Option unless such issuance and such exercise shall comply with all relevant
provisions of law and the requirements of any stock exchange upon which the Shares may then be
listed. Assuming such compliance, for income tax purposes, the Shares shall be

Affiliated Computer Services, Inc.

U.K. Stock Option Agreement — Page 3 of 6

 

 

considered
transferred to Optionee on the date on which the Option is exercised with respect to such Shares. If the Option is exercised in full, Optionee shall surrender
this Agreement.

     6. Method of Payment. Payment of the exercise price shall be made in cash or, as
determined by the Administrator, in accordance with the terms and conditions of the Plan, including
by check, promissory note or other Shares which (x) in the case of Shares acquired upon exercise of
the Option, either have been owned by the Optionee for more than six months on the date of
surrender or were not acquired, directly or indirectly, from the Company, and (y) have a Fair
Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to
which the Option is being exercised, or in any combination of cash and Shares having an aggregate
Fair Market Value equal to such exercise price. No Shares may be issued by the Company until
Optionee makes full payment to the Company of the applicable exercise price.

     7. Restrictions on Exercise. This Option may not be exercised until such time as the
Plan has been approved by the stockholders of the Company, or if the issuance of such Shares upon
such exercise or the method of payment of consideration for such shares would constitute a
violation of any applicable federal or state securities or other law or regulation, including any
rule under Part 207 of Title 12 of the Code of Federal Regulations. As a condition to the exercise
of this Option, the Company may require Optionee to make any representation and warranty to the
Company as may be required by any applicable law or regulation.

     8. Termination of Employment. In the event of termination of Optionee’s consulting
relationship or Continuous Status as an Employee with, or status as a Non-Employee Director of, the
Company, subject to Section 7 of this Agreement, the Option may be exercised only as, and within
the time periods, provided in the Plan.

     9. Death of Optionee. In the event of the death of the Optionee, the Option may be
exercised, according and subject to its terms, by the Optionee’s estate or by a person who acquired
the right to exercise the Option by bequest or inheritance, but only to the extent the Option was
vested at the date of death. To the extent the Option was not vested at the date of death, the
unvested portion of the Option shall automatically terminate.

     10. Termination for Cause. Notwithstanding Sections 5 and 6 of this Agreement, if
Optionee’s consulting relationship or Continuous Status as an Employee or a Non-Employee Director
is terminated by the Company for Cause, Optionee shall forfeit the Option in its entirety, whether
vested or unvested. For purposes of this Section 7, the Optionee shall be deemed to have been
terminated for Cause if the Optionee fails to satisfactorily perform his or her assigned duties or
commits an act of gross negligence or willful misconduct, including, but not limited to, a
dereliction of duty or the committing of and conviction for an offence involving breach of
fiduciary duty to an employer, an offence punishable by more than one year’s imprisonment or an
offence involving moral turpitude.

     11. Vesting of Option Upon Change of Control. If the Company undergoes a Change of
Control, the Option, whether or not vested at such time, shall become fully and completely vested
and exercisable, effective the day immediately prior to such Change of Control. For purposes of
the preceding sentence, a “Change of Control” shall have occurred if the Company is merged,
consolidated, or reorganized into or with another person, entity, or group of entities under common

Affiliated Computer Services, Inc.

U.K. Stock Option Agreement — Page 4 of 6

 

 

control or if a majority of the outstanding capital stock or all or substantially all of the assets
of the Company are sold to any other person, entity, or group of entities under common control and
as a result of such merger, consolidation, reorganization, or sale of capital stock or assets, more
than 51% of the combined voting power of the then outstanding voting securities of the surviving
person or entity immediately after such transaction are held in the aggregate by a person, entity
or group of entities under common control who beneficially owned less than 51% of the combined
voting power of the Company prior to such transaction.

     12. Non-Transferability of Option. The Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the
lifetime of Optionee only by the Optionee. The terms of the Option and this Agreement shall be
binding upon the executors, administrators, heirs, successors, and assigns of the Optionee.

     13. Term of Option. The Option may be exercised only within the term set out in the
Notice of Grant, and may be exercised during such term only in accordance with the Plan and the
terms of this Agreement. The limitations set out in Section 7 of the Plan regarding Options
granted to more than ten percent (10%) stockholders shall apply to the Option.

     14. Tax Consequences. Set forth below is a brief summary as of the date of this
Agreement of some of the tax consequences of exercise of the Option and disposal of the Shares.

     THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO
CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION OR DISPOSING OF THE
SHARES.

          (i) Exercise of Options. There may be an income tax liability and a liability to NICs
upon the exercise of the Option. The Optionee will be treated as having received employment income
equal to the excess, if any, of the market value of the Shares on the date of the exercise over the
Exercise Price. The Optionee’s Employer is required to account for the income tax and NICs under
PAYE and NIC regulations and arrangements must be made to reimburse the Employer as stated in
Sections 3 and 4 of this Agreement.

          (ii) Disposal of Shares. On any disposal of the Shares, the Optionee may have a
liability to capital gains tax (“CGT”). The base value for the calculation of CGT liability will
be the market value of the Shares at the date of exercise. There is an annual CGT allowance
against which any gain will be set and CGT taper relief will run from the date of exercise.

     15. Protection of Personal Data. The Optionee hereby authorizes and agrees to:

          (i) the collection, use and processing by the Optionee’s Employer, the Company and any Parent
or Subsidiary, any administrator of the Plan and the Company’s brokers, registrars and stock
transfer agents of Personal Data (as defined in the Data Protection Act 1998) relating to the
Optionee for purposes reasonably connected to the operation and administration of the Plan and the
subsequent registration of the Optionee or any other person as a holder of Shares acquired pursuant
to the exercise of the Option;

          (ii) the transfer to and retention of such Personal Data by such companies and

Affiliated Computer Services, Inc.

U.K. Stock Option Agreement — Page 5 of 6

 

 

persons for any such purposes; and

          (iii) the transfer to and retention of such Personal Data by any third party for any such
purposes.

     16. Relationship with Contract of Employment. The Optionee hereby acknowledges and
agrees that:

          (i) the grant of the Option does not form any part of the Optionee’s entitlement to
remuneration or benefits pursuant to his or her contract of employment, nor does the existence of a
contract of employment between the Optionee and the Company or any Parent or Subsidiary give the
Optionee any right or entitlement to have an Option granted to him or her in respect of any number
of Shares or any expectation that an Option might be granted to him or her whether subject to any
conditions or at all;

          (ii) the rights and obligations of the Optionee under the terms of his or her contract of
employment with the Company or any Parent or Subsidiary are not affected by the grant of the
Option;

          (iii) the rights granted to the Optionee upon the grant of the Option shall not afford the
Optionee any rights to compensation or damages in consequence of the loss or termination of his or
her office or employment with the Company or any Parent or Subsidiary for any reason whatsoever;
and

          (iv) the Optionee hereby waives all and any rights to compensation or damages for any loss or
potential loss in consequence of the loss or termination of his or her office or employment with
the Company or any Parent or Subsidiary for any reason whatsoever (including, without limitation,
any breach of contract by the Optionee’s Employer) insofar as those rights arise or may arise from
his or her ceasing to have rights under or be entitled to exercise any option under the Plan as a
result of such termination or from the loss of diminution in value of such rights or entitlements.

     Optionee acknowledges receipt of a copy of the Plan and certain information related thereto
and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
this Agreement and the Option subject to all of the terms and provisions thereof. Optionee has
reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice
of counsel prior to executing this Agreement and fully understands all provisions relating to the
Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or
interpretations of the Board upon any questions arising under the Plan.

Affiliated Computer Services, Inc.

U.K. Stock Option Agreement — Page 6 of 6exv10w47

 

EXHIBIT 10.47

FIRST AMENDMENT TO RIGHTS AGREEMENT

               FIRST
AMENDMENT, dated as of September 9, 2005 (“First Amendment”), to Rights Agreement dated
as of February 11, 2003 (the “Rights Agreement”), between Questcor Pharmaceuticals, Inc., a
California corporation (the “Company”), and Computershare Trust Company, Inc. (the “Rights Agent”).
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them
in the Rights Agreement.

               WHEREAS, the Company and the Rights Agent previously entered into the Rights Agreement; and

               WHEREAS, pursuant to Section 26 of the Rights Agreement, the Company and the Rights Agent may
from time to time supplement or amend any provision of the Rights Agreement in accordance with the
terms of such Section 26.

               NOW, THEREFORE, in consideration of the foregoing promises and mutual agreements set forth in
this Amendment, the parties hereby amend the Rights Agreement as follows:

               1.     Section 1.1 of the Rights Agreement is hereby amended and restated in its entirety as
follows:

““Acquiring Person” shall mean any Person (as such term is hereinafter defined) who or
which, together with all Affiliates and Associates (as such terms are hereinafter defined)
of such Person, shall be the Beneficial Owner (as such term is hereinafter defined) of 15%
or more of the Common Shares of the Company then outstanding but shall not include (i) an
Exempt Person or (ii) any Existing Holder, unless and until such time as such Existing
Holder shall become the Beneficial Owner of one or more additional Common Shares of the
Company (other than pursuant to (i) a dividend or distribution paid or made by the Company
on the outstanding Common Shares in Common Shares or pursuant to a split or subdivision of
the outstanding Common Shares, (ii) the purchase of up to an additional 800,000 Common
Shares on or after August 8, 2005 by such Existing Holder, or (iii) in the event that the
Company issues additional Common Shares after August 8, 2005 (other than issuances pursuant
to stock option programs or other equity incentive arrangements and issuances pursuant to
the exercise or conversion of securities outstanding on August 8, 2005), the purchase of
additional Common Shares by such Existing Holder so long as such Existing Holder does not
become the Beneficial Owner of a greater percentage of the Common Shares than the percentage
such Existing Holder beneficially owned on August 8, 2005), unless, upon becoming the
Beneficial Owner of such additional Common Shares, such Existing Holder is not then the
Beneficial Owner of 15% or more of the Common Shares then outstanding. “Existing Holder”
shall mean Sigma-Tau Finanziaria SpA, together with all of its Affiliates and Associates,
including, without limitation Defiante Farmaceutica LDA (formerly known as Defiante
Farmaceutica Unipessoal LDA), Sigma-Tau International S.A. (formerly known as

 

 

Sigma-Tau Finance Holding S.A.), Chaumiere — Consultadoria & Servicos SDC Unipessoal LDA,
Aptafin SpA, Paolo Cavazza and Claudio Cavazza. Notwithstanding the foregoing, no Person
shall become an “Acquiring Person” as the result of an acquisition of Common Shares by the
Company which, by reducing the number of shares outstanding, increases the proportionate
number of shares beneficially owned by such Person to 15% or more of the Common Shares of
the Company then outstanding; provided, however, that if a Person shall become the
Beneficial Owner of 15% or more of the Common Shares of the Company then outstanding solely
by reason of share purchases by the Company and shall, after such share purchases by the
Company, become the Beneficial Owner of one or more additional Common Shares of the Company
(other than pursuant to a dividend or distribution paid or made by the Company on the
outstanding Common Shares in Common Shares or pursuant to a split or subdivision of the
outstanding Common Shares), then such Person shall be deemed to be an “Acquiring Person”
unless upon becoming the Beneficial Owner of such additional shares of Common Stock such
Person does not beneficially own 15% or more of the shares of Common Stock then outstanding.
Notwithstanding the foregoing, if the Board of Directors of the Company determines in good
faith that a Person who would otherwise be an “Acquiring Person,” as defined pursuant to the
foregoing provisions of this Section 1.1, has become such inadvertently (including, without
limitation, because (A) such Person was unaware that it beneficially owned a percentage of
Common Stock that would otherwise cause such Person to be an “Acquiring Person” or (B) such
Person was aware of the extent of its Beneficial Ownership of Common Stock but had no actual
knowledge of the consequences of such Beneficial Ownership under this Agreement), and
without any intention of changing or influencing control of the Company, and such Person
divests as promptly as practicable a sufficient number of Common Shares so that such Person
would no longer be an Acquiring Person, as defined pursuant to the foregoing provisions of
this Section 1.1, then such Person shall not be deemed to be or have become an “Acquiring
Person” at any time for any purposes of this Agreement. For all purposes of this Agreement,
any calculation of the number of Common Shares outstanding at any particular time, including
for purposes of determining the particular percentage of such outstanding Common Shares of
which any Person is the Beneficial Owner, shall be made in accordance with the last sentence
of Rule 13d-3(d)(1)(i) of the General Rules and Regulations under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), as in effect on the date of this Agreement.”

               2.     The second paragraph of Exhibit C to the Rights Plan (SUMMARY OF RIGHTS TO PURCHASE
PREFERRED SHARES), is hereby amended and restated in its entirety as follows:

“Until the earlier to occur of (i) ten (10) days following a public announcement that a
person or group of affiliated or associated persons has acquired or obtained the right to
acquire, beneficial ownership of 15% or more of the Common Shares (an “Acquiring Person”)
(other than an Existing Holder (defined as Sigma-Tau Finanziaria SpA, together with all of
its Affiliates and Associates, including, without limitation Defiante Farmaceutica LDA
(formerly known as Defiante Farmaceutica Unipessoal LDA), Sigma-Tau International S.A.
(formerly known as Sigma-Tau Finance Holding S.A.), Chaumiere

2

 

- Consultadoria & Servicos SDC Unipessoal LDA, Aptafin SpA, Paolo Cavazza and Claudio
Cavazza), unless and until such time as such Existing Holder shall become the Beneficial
Owner of one or more additional Common Shares of the Company (other than pursuant to (i) a
dividend or distribution paid or made by the Company on the outstanding Common Shares in
Common Shares or pursuant to a split or subdivision of the outstanding Common Shares, (ii)
the purchase of up to an additional 800,000 Common Shares on or after August 8, 2005 by such
Existing Holder, or (iii) in the event that the Company issues additional Common Shares
after August 8, 2005 (other than issuances pursuant to stock option programs or other equity
incentive arrangements and issuances pursuant to the exercise or conversion of securities
outstanding on August 8, 2005), the purchase of additional Common Shares by such Existing
Holder so long as such Existing Holder does not become the Beneficial Owner of a greater
percentage of the Common Shares than the percentage such Existing Holder beneficially owned
on August 8, 2005), unless, upon becoming the Beneficial Owner of such additional Common
Shares, such Existing Holder is not then the Beneficial Owner of 15% or more of the Common
Shares then outstanding) or (ii) ten (10) business days (or such later date as may be
determined by action of the Board of Directors prior to such time as any person or group of
affiliated persons becomes an Acquiring Person) following the commencement or announcement
of an intention to make a tender offer or exchange offer the consummation of which would
result in the beneficial ownership by a person or group of 15% or more of the Common Shares
(the earlier of (i) and (ii) being called the “Distribution Date”), the Rights will be
evidenced, with respect to any of the Common Share certificates outstanding as of the Record
Date, by such Common Share certificate together with a copy of this Summary of Rights.”

               3.     This First Amendment shall be effective as of the date hereof and, except as expressly set
forth herein, the Rights Agreement shall remain in full force and effect and be otherwise
unaffected hereby.

               4.     This First Amendment may be executed in any number of counterparts, each of which, when
executed, shall be deemed to be an original and all such counterparts shall together constitute one
and the same document.

3

 

                IN WITNESS WHEREOF, the parties have executed this First Amendment as of the date first
written above.

	 	 	 	 	 
	 	QUESTCOR PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/
James L. Fares	 
	 	 	Name:  	James L. Fares	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	COMPUTERSHARE TRUST COMPANY, INC.

 	 
	 	By:  	/s/
Kellie Gwinn	 
	 	 	Name:  	Kellie Gwinn	 
	 	 	Title:  	Vice President	 
	 
	 	By:  	/s/
John M. Wahl	 
	 	 	Name:  	John M. Wahl	 
	 	 	Title:  	Corporate Trust Officer	 
	 

4

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