Document:

Letter Agreement, dated February 21, 2008, by and among Omnicare, Inc.

 Exhibit 10.1 
 Omnicare, Inc. 
 100 East RiverCenter Boulevard 
 Covington, Kentucky 41011 
 CONFIDENTIAL 
 February 21, 2008 
 ValueAct Capital Master Fund, L.P. 
 ValueAct Capital Master Fund III, L.P. 
 435 Pacific Avenue 
 Fourth Floor 
 San Francisco, California 94133 
 Attention: Jeffrey W. Ubben 
 Re:    Board Representation and Standstill Arrangement 
 Ladies and Gentlemen: 
 This letter agreement (this “Agreement”) sets forth our understanding and agreement with respect to your representation on the board of
directors of Omnicare, Inc. (the “Company” and, such board of directors, the “Board”) and certain restrictions and limitations to be placed on ValueAct Capital Master Fund, L.P., ValueAct Capital Master Fund III,
L.P. and their respective affiliates (collectively, the “ValueAct Parties”) concerning the Company, its subsidiaries and their respective securities, assets and properties. By signing this Agreement, the parties agree and
acknowledge as follows: 
 1. Board Representation. (a) In consideration of the ValueAct Parties’ agreement set forth in
Section 3 below and concurrently with the execution and delivery of this Agreement, the Board has (i) increased its size by one and filled the resulting vacancy by appointing Mr. Ubben as a director of the Company to serve on
the Board until the date of the 2008 annual meeting of stockholders of the Company and (ii) nominated Mr. Ubben (or, if applicable, the successor director as provided in Section 1(b) below) for election as a director of the
Company at the 2008 annual meeting of stockholders of the Company. 
 (b) Subject to applicable law and the rules of the New York Stock
Exchange (“NYSE”), in the event that a vacancy on the Board is created as a result of Mr. Ubben’s death, resignation, disqualification or removal (or the death, resignation, disqualification or removal of any designee of
the ValueAct Parties pursuant to this Section 1(b)) or the nomination of Mr. Ubben is withdrawn for any reason, the Company (acting through the Board) shall appoint a successor director and/or nominate another Person designated by
the ValueAct Parties (provided that, such designee meets the definition of independence as defined by the NYSE and meets the requirements to serve as a director under the Delaware General Corporation Law) (such designee being referred to as a
“Qualified ValueAct Designee”) to fill such vacancy or be nominated for election, which Qualified ValueAct Designee shall serve and/or be nominated as specified in 

 Section 1(a) above. Notwithstanding anything to the contrary in this Agreement, if the Company fails to make
such Qualified ValueAct Designee a member of the Board within ten days after designation by the ValueAct Parties or the nomination of Mr. Ubben is withdrawn and another Qualified ValueAct Designee of the ValueAct Parties is not nominated for
election as a director of the Company at the 2008 annual meeting of stockholders of the Company, the obligations of the ValueAct Parties hereunder shall immediately terminate. 
 (c) Notwithstanding anything to the contrary in this Agreement, the rights and privileges set forth in this Section 1 shall be personal to
the ValueAct Parties and may not be transferred or assigned to any individual, corporation, partnership, limited liability company, joint venture, estate, trust, association, organization or other entity of any kind or nature (each, a
“Person”). 
 (d) Notwithstanding anything to the contrary in this Agreement, if, at anytime, the ValueAct Parties cease to
own more than five percent of the outstanding voting power of the Company, the rights and privileges of the ValueAct Parties contained in Section 1(a) and Section 1(b) shall be terminable upon the request of the Board to the
ValueAct Parties, whereupon the ValueAct Parties shall promptly cause Mr. Ubben or his successor director, if any, to resign from the Board immediately. 
 2. Independent Directors. The Company (acting through the Board) shall appoint and nominate two duly qualified Persons (each of whom shall meet the definition of independence as defined by NYSE) as members of
the Board not later than the date of the 2008 annual meeting of stockholders of the Company. Before making the appointments, the Company (acting through the Board) will consult with Mr. Ubben with respect to the identity, background,
qualifications and independence of such Persons. 
 3. Standstill Agreement. In consideration for the Company’s agreement set
forth in Section 1 above, the ValueAct Parties agree that, from the date hereof until the date on which the 2009 annual meeting of stockholders of the Company is held, the ValueAct Parties shall not, and shall cause their respective
directors, officers, partners, members, employees, agents (acting in such capacity) and controlled investment funds (collectively, “Representatives”) not to, in any manner, directly or indirectly: (a) acquire, agree or seek to
acquire or make any proposal or offer to acquire, or announce any intention to acquire, any securities of the Company (or beneficial ownership thereof) or any securities convertible or exchangeable into or exercisable for any securities of the
Company (or beneficial ownership thereof) or any property, asset or business of the Company (other than securities issued pursuant to a stock split, stock dividend or similar corporate action initiated by the Company with respect to any securities
beneficially owned by the ValueAct Parties on the date of this Agreement), (b) propose to any Person, or effect or seek to effect, whether alone or in concert with others, any tender or exchange offer, merger, consolidation, acquisition,
scheme, business combination or other extraordinary transaction involving the Company, or tender any voting securities of the Company into any such tender or exchange offer or vote any voting securities of the Company in favor of any such
transaction, (c) make, or in any way participate in any 
  

 2 

 “solicitation” of “proxies” (as such terms are used in the proxy rules of the Securities and Exchange
Commission) to vote, including, without limitation, by voting any voting securities of the Company in favor of any proposal for which such solicitation is being made (other than any proposal supported by the Board), or seek to advise or influence
any Person with respect to the voting of, any voting securities of the Company for any purpose, (d) form, join, encourage, influence, advise or in any way participate in a “group” (within the meaning of Section 13(d)(3) of the
Securities Exchange Act of 1934) with respect to any voting securities of the Company or otherwise in any manner agree, attempt, seek or propose to deposit any voting securities of the Company or any securities convertible or exchangeable into or
exercisable for any such securities in any voting trust or similar arrangement, (e) seek to have the Company waive, amend or modify any provisions of the Company’s certificate of incorporation or bylaws or waive, amend, modify or terminate
the Rights Agreement, dated May 17, 1999, between the Company and First Chicago Trust Company of New York, as the same may otherwise be amended from time to time, (f) otherwise act, alone or in concert with others, to seek to control,
advise, change or influence the management, board of directors, governing instruments, policies or affairs of the Company, (g) other than in a Rule 144 broker transaction, sell, transfer or otherwise dispose of any voting securities of the
Company to any Person who is (or will become upon consummation of such sale, transfer or other disposition) a beneficial owner of five percent or more of the outstanding voting securities of the Company, (h) make any public disclosure, or take
any action that could require the Company to make any public disclosure, with respect to any of the matters set forth in this Agreement, (i) disclose any intention, plan or arrangement inconsistent with the foregoing or (j) encourage,
advise, assist or facilitate the taking of any actions by any other Person in connection with any of the foregoing; provided that nothing in this Section 3 shall limit any actions that may be taken by Mr. Ubben acting as a
director of the Company consistent with his fiduciary duties to the Company and its stockholders. The ValueAct Parties also agree not to request during such period that the Company or any Company Representative, directly or indirectly, amend or
waive any provision of this paragraph (including this sentence). In the event that Mr. Ubben or the Qualified ValueAct Designee, as applicable, has not then been nominated by the Company (acting through the Board) to stand for re-election as a
director at the 2009 annual meeting of stockholders of the Company, the obligations of the ValueAct Parties under this Agreement will terminate on such date that is 10 days before the latest date on which pursuant to the By-laws of the Company a
stockholder of the Company may give a valid notice to the Company of its intention to make a proxy solicitation or otherwise solicit proxies with respect to the election of a director at the 2009 annual meeting of stockholders of the Company. In
addition, in the event that such nomination is timely made and the obligations of the ValueAct Parties hereunder have not then been otherwise terminated, the Company (acting through the Board) agrees that it will not withdraw such nomination prior
to its being voted upon by the stockholders of the Company at the 2009 annual meeting of stockholders of the Company. The ValueAct Parties further agree that, if at any time during such period, the ValueAct Parties or any of the ValueAct
Parties’ Representatives are approached by any third party concerning the ValueAct Parties’ or any of the ValueAct Parties’ Representatives’ participation in any of the above- 
  

 3 

 mentioned matters, the ValueAct Parties shall promptly inform the Company of the nature of any such matters and the
parties involved. 
 4. Remedies. In the event of any breach of the terms of this Agreement, neither the ValueAct Parties nor the
Company could be made whole by monetary damages. Accordingly, in addition to any other remedy to which it may be entitled in law or in equity, the parties shall be entitled to an injunction to prevent breaches of the terms of this Agreement.

 5. Communications. Neither the ValueAct Parties nor any of the ValueAct Parties’ Representatives (other than Mr. Ubben to
the extent acting in his capacity as a member of the Board) will initiate or cause to be initiated (other than through the Company’s Chief Executive Officer, the Company’s Chief Financial Officer, the Company’s senior investor
relations officer or such other Person(s) as they may designate) any communication relating to the business of the Company or its affiliates, in each case, with any officer, director or employee of the Company or any of its affiliates. 

6. Securities Laws. The ValueAct Parties acknowledge that the ValueAct Parties are aware and that the ValueAct Parties and the ValueAct
Parties’ Representatives have been advised that the United States securities laws prohibit any Person having non-public material information about a company from purchasing or selling securities of that company. 
 7. Entire Agreement; Amendments. This Agreement represents the entire understanding and agreement of the parties with respect to the matters
contained herein, and may be amended, modified or waived only by a separate writing executed by the ValueAct Parties and the Company expressly so amending, modifying or waiving this Agreement. This Agreement shall inure to the benefit of and be
binding upon the parties and their respective successors and assigns. 
 8. No Waiver. No failure or delay by a party in exercising
any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or privilege hereunder. 
 9. Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of New York, without regard to the laws
of conflict of laws. The parties and their respective Representatives: (a) irrevocably and unconditionally consent and submit to the jurisdiction of the state and federal courts located in the State of New York for purposes of any action, suit
or proceeding arising out of or relating to this Agreement; (b) agree that service of any process, summons, notice or document by U.S. registered mail to the address set forth at the end of this Agreement shall be effective service of process
for any action, suit or proceeding brought against them; (c) irrevocably and unconditionally waive any objection to the laying of venue of any action, suit or proceeding arising out of or relating to this Agreement in any state or federal court
located in the State of New York; and (d) irrevocably and 
  

 4 

 unconditionally waive the right to plead or claim, and irrevocably and unconditionally agree not to plead or claim, that
any action, suit or proceeding arising out of or relating to this Agreement that is brought in any state or federal court located in the State of New York has been brought in an inconvenient forum. 
 10. Expenses. In the event of litigation relating to this Agreement, if a court of competent jurisdiction determines in a final, non-appealable
order that a party has breached this Agreement, then such party shall be liable and pay to the non-breaching party the legal fees and expenses such non-breaching party has incurred in connection with such litigation, including any appeal therefrom.

 11. Captions. The Captions contained in this Agreement are for convenience only and shall not affect the construction or
interpretation of any provisions of this Agreement. 
 12. Counterparts. This Agreement may be executed in multiple counterparts, each
of which shall be deemed to be an original, but all of which shall constitute one and the same Agreement. 
 [Remainder of Page
Intentionally Left Blank] 
  

 5 

 Please confirm your agreement with the foregoing by signing and return to us a copy of this Agreement.

  

			
	OMNICARE, INC.
		
	By	 	 /s/ Joel F. Gemunder

	Name:	 	Joel F. Gemunder
	Title:	 	President and Chief Executive Officer

 Agreed and acknowledge by, 
 on behalf the ValueAct Parties: 
  

			
	VALUEACT CAPITAL MASTER FUND, L.P.
	
	By: VA Partners I, LLC
	Its: General Partner
		
	By	 	 /s/ Jeffrey W. Ubben

	Name:	 	Jeffrey W. Ubben
	Title:	 	Chief Executive Officer
	
	VALUEACT CAPITAL MASTER FUND III, L.P.
	
	By: VA Partners III, LLC
	Its: General Partner
		
	By	 	 /s/ Jeffrey W. Ubben

	Name:	 	Jeffrey W. Ubben
	Title:	 	Chief Executive OfficerExhibit 10.04

 Exhibit 10.04 
 EMPLOYEE CONFIDENTIALITY, NON-COMPETITION, AND 
 NON-SOLICITATION AGREEMENT

 This Confidentiality, Non-Competition, and Non-Solicitation Agreement (“Agreement”) is entered into this 8th day of
January, 2008, by and between Under Armour, Inc. (together with its affiliates, the “Company”) and Suzanne Karkus (“Employee”). 
 EXPLANATORY NOTE 
 The Employee recognizes that the Employee has had and will continue to have access to confidential
proprietary information during the course of his or her employment and that the Employee’s subsequent employment by a competitor would inevitably result in the disclosure of that information and, thereby, create unfair competition and would
likely to cause substantial loss and harm to the Company. The Employee further acknowledges that employment with the Company is based on the Employee’s agreement to abide by the covenants contained herein. 
 NOW THEREFORE, for good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties agree as follows:

 1. Confidentiality. Employee acknowledges Employee’s fiduciary duty and duty of loyalty to the Company. Further,
Employee acknowledges that the Company, in reliance of this Agreement, will provide Employee access to trade secrets, customers, proprietary data and other confidential information. Employee agrees to retain said information as confidential and
not to use said information for self or disclose same to any third party, except when required to do so to properly perform duties to the Company. Further, as a condition of employment, during the time Employee is employed by the Company and
continuing after any termination of the Employee’s employment with the Company, Employee agrees to protect and hold in a fiduciary capacity for the benefit of the Company all Confidential Information, as defined below, unless the Employee is
required to disclose Confidential Information pursuant to the terms of a valid and effective order issued by a court of competent jurisdiction or a governmental authority. The Employee shall use Confidential Information solely for the purpose
of carrying out those duties assigned Employee as an employee of the Company and not for any other purpose. The disclosure of Confidential Information to the Employee shall not be construed as granting to the Employee any license under any
copyright, trade secret, or any right of ownership or right to use the Confidential Information whatsoever. In the event that Employee is compelled, pursuant to a subpoena or order of a court or other body having jurisdiction over such matter,
to produce any Confidential Information or other information relevant to the Company, Employee agrees to promptly provide the Company with written notice of such subpoena or order so that the Company may timely move to quash if appropriate.

 (a) For the purposes of this Agreement, “Confidential Information” shall mean all information related to the Company’s
business that is not generally known to the public. Confidential Information shall include, but shall not be limited to: any financial (whether historical, projections or forecasts), pricing, cost, business, planning, 

  

 1 

 
operations, services, potential services, products, potential products, technical information, intellectual property, trade secrets and/or know-how,
formulas, production, purchasing, marketing, sales, personnel, customer, supplier, or other information of the Company; any papers, data, records, processes, methods, techniques, systems, models, samples, devices, equipment, compilations, invoices,
customer lists, or documents of the Company; any confidential information or trade secrets of any third party provided to the Company in confidence or subject to other use or disclosure restrictions or limitations; this Agreement and its terms; and
any other information, written, oral or electronic, whether existing now or at some time in the future, whether pertaining to current or future developments or prospects, and whether accessed prior to the Employee’s tenure with the Company or
to be accessed during Employee’s future employment or association with the Company, which pertains to the Company’s affairs or interests or with whom or how the Company does business. The Company acknowledges and agrees that
Confidential Information shall not include information which is or becomes publicly available other than as a result of a disclosure by the Employee. 
 (b) The Employee shall promptly notify the Company if he has reason to believe that the unauthorized use, possession, or disclosure of any Confidential Information has occurred or may occur. 
 (c) All physical items containing Confidential Information, including, but not limited to, the business plan, know-how, collection methods and
procedures, advertising techniques, marketing plans and methods, sales techniques, documentation, contracts, reports, letters, notes, any computer media, customer lists and all other information and materials of the Company’s business and
operations, shall remain the exclusive and confidential property of the Company and shall be returned, along with any copies or notes that the Employee made thereof or therefrom, to the Company when the Employee ceases employment with the
Company. The Employee further agrees to return copies of any Confidential Information contained on Employee’s home computer, portable computer or other similar device. Employee also agrees to allow the Company, upon reasonable belief
and with appropriate notice, access to any home computer, portable computer or other similar device maintained by Employee, including but not limited to, for the purpose of determining whether said Confidential Information has been
misappropriated. The Employee further agrees to promptly return all other property belonging to the Company upon the termination of Employee’s employment. 
 2. Non-Competition. Except as otherwise provided in this Agreement, without the prior written consent of the Company, the Employee hereby covenants and agrees that at no time during the Employee’s
employment with Company and for a period of one (1) year immediately following termination of Employee’s employment with the Company, whether voluntary or involuntary, shall the Employee: 
 (a) directly or indirectly work for or engage in any capacity in any activities or provide strategic advice to Competitor Businesses. Competitor
Businesses shall be defined as (i) any business that is involved in the manufacture, sale, development of fabrications or manufacturing methods, or marketing of: athletic apparel or footwear (e.g., Reebok, Nike, Adidas); sporting goods;
tactical (military and/or law enforcement) apparel; hunting and fishing apparel; mountain sports apparel; accessories of such industries; or any business substantially similar to the present business of the Company or 

  

 2 

 
such other business activity in which the Company may substantially engage; and (ii) retail enterprises which sell products that compete with the
Company’s products; 
 (b) act in any way, directly or indirectly, with the purpose or effect of soliciting, diverting or taking away
any business, customer, client or any supplier of the Company; or 
 (c) otherwise compete with Company in the sale or licensing, directly or
indirectly, as principal, agent or otherwise, of any products competitive with the products, or services competitive with the services, developed or marketed by Company. 
 Written request for consent to be released from the Non-Competition provisions of this Agreement may be submitted by the Employee to the Company following the termination of Employee’s employment and must include
all available information described in Section 4 below. The Company will respond to the request for such consent within two (2) weeks of the request, except as provided in Section 4. In the Company’s sole discretion,
with or without any request from Employee to be released from the Non-Competition provisions of this Agreement, the Company may release Employee from the Non-Competition provisions of this Agreement, or reduce the non-competition period from a
period of one (1) year immediately following Employee’s termination (“Non-Competition Period”) to a shorter duration. In the event the Company does not release the Employee from the Non-Competition provision, for the
duration of the Non-Competition Period, the Company will pay Employee an amount equal to sixty percent (60%) of Employee’s base salary as of the date of the termination of Employee’s employment, in accordance with the Company’s
customary pay practices in effect at the time each payment is made. This amount shall be reduced by (a) the amount of any payment (up to 60% of salary) to Employee under paragraph 5 of this Agreement; and (b) the amount of any salary
received during the Non-Competition period from employment in any capacity with an entity that is not a Competitor Business. 
 3.
Non-Solicitation and Non-Interference. The Employee hereby covenants and agrees that at no time during the Employee’s employment with Company and for a period of one (1) year immediately following termination of
Employee’s employment with the Company, whether voluntary or involuntary, shall the Employee: 
 (a) solicit (other than on behalf of the
Company) business or contracts for any products or services of the type provided, developed or under development by the Company during the Employee’s employment by the Company, from or with any person or entity which was a customer of the
Company for such products or services, or any prospective customer which the Company had solicited as of, or within one year prior to, the Employee’s termination of employment with the Company; or directly or indirectly contract with any such
customer or prospective customer for any product or service of the type provided, developed or which was under development by the Company during the Employee’s employment with the Company; or 
 (b) knowingly interfere or attempt to interfere with any transaction, agreement or business relationship in which the Company was involved during the
Employee’s employment with the Company, nor will the Employee act in any way with the purpose or effect of hiring anyone who has been an employee of the Company, its 

  

 3 

 
divisions or subsidiaries; or soliciting, recruiting or encouraging, directly or indirectly, any of the Company’s employees to leave the employ of the
Company, its divisions or its subsidiaries. 
 4. Notification of New Employment. Employee acknowledges and agrees that for a
period of one (1) year following the date of termination of Employee’s employment with the Company, Employee will inform the Company, prior to the acceptance of any job or any work as an independent contractor, of the identify of any new
employer or other entity to which Employee is providing consulting or other services, along with Employee’s starting date, title, job description, salary, and any other information which the Company may reasonably request to confirm
Employee’s compliance with the terms of this Agreement. If Employee does not provide all information reasonably requested by the Company as provided in this Section, the Company’s time to respond to a request for release from the
Non-Competition provision under Section 2 will be extended to six (6) weeks, or until such time as the information is provided for the Company to make an informed decision. 
 5. Additional Compensation if Termination without Cause. In the event the Company terminates Employee’s employment without Cause (as defined
below), and provided Employee first signs (and does not revoke) a general release of claims against the Company in a form provided by the Company (“Release”), the Company agrees that it will pay Employee an amount equal to six
(6) months’ of Employee’s base salary as in effect on the date of termination, less required withholdings, payable over the course of six (6) months in accordance with the Company’s regular pay practices, beginning the first
regular pay period after the effective date of the Release. The amount paid under this paragraph 5 will be reduced by any amount paid to Employee under paragraph 2. The Company shall have no obligation to make or continue to make any payment under
this paragraph if the Company in good faith determines that Employee has breached any obligation under this Agreement. Nothing in this Agreement changes the “at-will” nature of Employee’s employment with the Company. 
 As used in this paragraph 5, “Cause” means the occurrence of any of the following: (i) the Employee’s material misconduct or neglect
in the performance of his duties; (ii) conviction for, or plea of nolo contendere to, any felony, or a misdemeanor (excluding a petty misdemeanor) involving dishonesty, fraud, financial impropriety, or moral turpitude, or any crime of
sufficient import to potentially discredit or adversely affect the Company’s ability to conduct its business in the normal course; (iii) the Employee’s use of illegal drugs; (d) the Employee’s material breach of the
Company’s written Code of Conduct, as in effect from time to time; (e) the Employee’s commission of any act that results in severe harm to the Company excluding any act taken by the Employee in good faith that he reasonably believed
was in the best interests of the Company; or (f) the Employee’s material breach of this Agreement. 
 6. Reasonableness of
Restrictions. Employee acknowledges and agrees that the restrictions imposed by this Agreement are fair and reasonably required for the protection of the Company, and will not preclude Employee from becoming gainfully employed following the
termination, for any reason, of employment with the Company. The Employee acknowledges that employee will provide unique services to the Company and that this covenant has unique, substantial, and immeasurable value to the Company. 

  

 4 

 
In the event that the provisions of this Agreement should ever be deemed to exceed the limitations permitted by applicable laws, Employee and the Company
agree that such provisions shall be reformed to the maximum limitations permitted by the applicable laws. The Employee further acknowledges that the decision whether to consent to release Employee from the provisions of this Agreement is within
the sole discretion of the Company. 
 7. Injunctive Relief. Employee acknowledges and agrees that in the event of a violation or
threatened violation of any provision of this Agreement, the Company will sustain irreparable harm and will have the full right to seek injunctive relief, in addition to any other legal remedies available, without the requirement of posting bond.

 8. Survivability. This Agreement shall remain binding in the event of the termination, for any reason, of employment with the
Company. 
 9. Governing Law. The formation, construction and interpretation of this Agreement shall at all times and in all
respects be governed by the laws of the State of Maryland. 
 10. Severable Provisions. The provisions of this Agreement are
severable, and if any court determines that any provision of this Agreement is invalid or unenforceable, in whole or in part, any invalidity or unenforceability shall affect only that provision, and shall not make any other provision of this
Agreement invalid or unenforceable; and this Agreement shall be narrowed by the court to the extent required to be valid and enforceable. 
 11. Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter contained herein, and may not be modified except in a written document signed by each of the parties
hereto. No waiver of any breach of any provision of this Agreement shall constitute a waiver of any other breach of that or any other provision hereof. 
 IN WITNESS WHEREOF, the parties have executed the Agreement as of the date first above written. 
  

									
	 /s/ Suzanne Karkus
	 	 	 	 /s/ Melissa Wallace

	By:	 	Suzanne Karkus	 		 	By:	 	Melissa Wallace
			
	 Senior Vice President of Apparel
	 		 	 Vice President of Human Resources

	Title:	 		 	Title:

  

 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]