Document:

Form of Management Securities Purchase Agreement

 Exhibit 10.53 
 FORM OF 
 MANAGEMENT SECURITIES PURCHASE AGREEMENT 
 THIS AGREEMENT is made as of March 28, 2005 (the “Agreement”), by and among Warner Chilcott Holdings Company, Limited, a
Bermuda exempted limited company (together with its successors, “Holdings I”), Warner Chilcott Holdings Company II, Limited, a Bermuda exempted limited company (together with its successors, “Holdings
II”, and collectively with Holdings I, the “Companies”), and the individuals listed on the respective signature pages attached hereto under the heading “Purchasers” (collectively the
“Purchasers” and, each individually a “Purchaser”). 
 W I T N E S S E T H : 
 WHEREAS, on the terms and subject to the conditions set forth herein, each Purchaser desires to subscribe for and purchase, and Holdings I desires to
sell to each Purchaser, (i) that number of Class L ordinary shares, par value $0.01 per share of Holdings I (the “Holdings I Class L Shares”), and (ii) that number of Class A ordinary shares, par value $0.01
per share of Holdings I (the “Holdings I Class A Shares” and, together with the Holdings I Class L Shares, the “Holdings I Shares”), set forth on such Purchaser’s signature page attached
hereto below the name of such Purchaser for the purchase price set forth on such Purchaser’s signature page attached hereto below the name of such Purchaser (the total purchase price to be paid by any particular Purchaser for any Holdings I
Shares herein referred to as the “Holdings I Purchase Price”); 
 WHEREAS, on the terms and subject to the conditions
set forth herein, each Purchaser desires to subscribe for and purchase, and Holdings II desires to sell to each Purchaser, (i) that number of preferred shares, par value $0.01 per share of Holdings II (the “Holdings II
Shares”, and together with Holdings I Shares, the “Shares”), set forth on such Purchaser’s signature page attached hereto below the name of such Purchaser for the purchase price set forth on such
Purchaser’s signature page attached hereto below the name of such Purchaser (such purchase price, the “Holdings II Purchase Price”, and together with the Holdings I Purchase Price, the “Total Purchase
Price”). 
 NOW, THEREFORE, in order to implement the foregoing and in consideration of the mutual representations, warranties,
covenants and agreements contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Purchase and Sale of the Shares. 
 (a) At the Closing referred to in Section 2 below, subject to the terms and conditions set forth herein, each of the Companies shall sell to each Purchaser, and each Purchaser shall purchase from each of the Companies, the
Shares in the amount listed on such Purchaser’s signature page attached hereto at the purchase price listed thereon. 

 (b) The obligations of each Purchaser shall be several and not joint, and no Purchaser shall be liable or
responsible for the acts of any other Purchaser under this Agreement. 
 2. The Closing. The closing of the purchase and sale of the
Shares (the “Closing”) shall occur on the date hereof. At the Closing, each of the Companies shall deliver to each Purchaser certificates representing the Shares issued to such Purchaser upon payment of the Holdings I
Purchase Price and the Holdings II Purchase Price by wire transfer of immediately available funds to such accounts as designated in writing by each of the Companies to such Purchaser prior to the Closing. Payment of the Total Purchase Price shall be
made in U.S. dollars. 
 3. Representations and Warranties of the Companies. Each of the Companies hereby represents and warrants,
severally and not jointly, to each Purchaser as follows: 
 (a) Such Company is an exempted company limited by shares, duly organized,
validly existing and in good standing under the laws of Bermuda and has all requisite corporate power and authority to carry on its business as now conducted and as proposed to be conducted. 
 (b) Such Company has full corporate power and authority to execute and deliver this Agreement and all other agreements and instruments contemplated
hereby to which such Company is a party and to perform its obligations hereunder and thereunder, and this Agreement and all such other agreements and instruments have been duly authorized, executed and delivered by such Company and, assuming the due
execution and delivery of this Agreement and all other agreements and instruments contemplated hereby to which such Company is a party, by the other parties hereof and thereof, are valid, binding and enforceable against such Company in accordance
with their terms. 
 (c) The Shares to be issued to each Purchaser pursuant to this Agreement, when purchased, will be duly and validly
issued and will be fully paid and nonassessable, free and clear of all liens or encumbrances. 
 (d) The execution, delivery and performance
of this Agreement by such Company, and the fulfillment of and compliance with the terms hereof by such Company, do not and will not (i) violate any requirements of any material obligation of such Company, (ii) result in or constitute (with
or without the giving of notice, lapse of time or both) any default or event of default under any such material obligation of such Company, or give rise to a right of termination of, or accelerate the performance required by, any terms of any such
material obligation, or (iii) violate any statute, law, ordinance, rule, regulation or order of any court or governmental authority or any judgment, order or decree (U.S. federal, state or local or foreign) applicable to such Company.

 (e) The sale of Shares in accordance with the terms of this Agreement (assuming the accuracy of the representations and warranties of the
Purchasers contained 

  

 2 

 
in Sections 4 and 6 hereof) is exempt from the registration requirements of the Securities Act of 1933, as amended. 
 (f) The authorized share capital of Holdings I consists of 117,380,000 Holdings I Class A Shares and 12,820,000 Holdings I Class L Shares. As of the
date hereof, prior to the consummation of the transactions contemplated hereby and prior to the grant of any shares to any of the Purchasers on the date hereof pursuant to the 2005 Equity Incentive Plan of Holdings I or otherwise, there are:
(i) 87,390,113 Holdings I Class A Shares issued and outstanding and (ii) 10,554,361 Holdings I Class L shares issued and outstanding. 
 (g) The authorized share capital of Holdings II consists of 600,000 Holdings II Shares and 11,200,000 ordinary shares. As of the date hereof, prior to the consummation of the transactions contemplated hereby and prior
to the grant of any shares of Holdings II to any of the Purchasers on the date hereof, there are 400,000 Holdings II Shares issued and outstanding, and 8,739,011.26 ordinary shares issued and outstanding. 
 4. Representations and Warranties of the Purchasers. Each Purchaser hereby represents and warrants, severally and not jointly, to each of the
Companies that: 
 (a) Such Purchaser has full right, capacity and power to execute and deliver this Agreement and all other agreements and
instruments contemplated hereby to which such Purchaser is a party, and to perform his or her obligations hereunder and thereunder. This Agreement and all other agreements and instruments contemplated hereby to which such Purchaser is a party have
been duly executed and delivered by or on behalf of such Purchaser and, assuming due execution by other parties, constitute legal, valid and binding agreements, enforceable against such Purchaser in accordance with their terms. 
 (b) The execution, delivery and performance of this Agreement and all other agreements and instruments contemplated hereby to which such Purchaser is a
party and the fulfillment of and compliance with the respective terms hereof and thereof by the Purchaser, do not and will not (i) violate any requirements of any material obligation of such Purchaser, or (ii) result in or constitute (with
or without the giving of notice, lapse of time or both) any default or event of default under any such material obligation of the Purchaser, or give rise to a right of termination of, or accelerate the performance required by, any terms of any such
material obligation, or (iii) violate any statute, law ordinance, rule, regulation or order of any court or governmental authority or any judgment, order or decree (U.S. federal, state or local or foreign) applicable to such Purchaser.

 (c) The Shares to be received by him or her will be acquired by him or her for investment only for his or her own account, not as a
nominee or agent, and not with a view to the sale or distribution of any part thereof in violation of applicable U.S. federal or state or foreign securities laws. Such Purchaser has no current intention of selling, granting participation in or
otherwise distributing the Shares in violation of applicable U.S. federal or state or foreign securities laws. Such Purchaser does not have any 

  

 3 

 
contract, undertaking, agreement or arrangement with any person or entity to sell, transfer or grant participation to such person or entity, or to any third
person or entity, with respect to any of the Shares, in each case, in violation of applicable U.S. federal or state or foreign securities laws. 
 (d) Such Purchaser understands that the offer and sale of the Shares have not been registered under the Securities Act of 1933 as amended ( the “Securities Act”) or any applicable U.S. state or foreign securities
laws, and that the Shares are being issued in reliance on an exemption from registration, which exemption depends upon, among other things, the bona fide nature of the investment intent and the accuracy of such Purchaser’s representations as
expressed herein. 
 (e) Such Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of his or her investment. Such Purchaser is a sophisticated investor, has relied upon independent investigations made by such Purchaser and, to the extent believed by such Purchaser to be appropriate, such Purchaser’s
representatives, including such Purchaser’s own professional, tax and other advisors, and is making an independent decision to invest in the Shares. Such Purchaser has been furnished with such documents, materials and information that such
Purchaser deems necessary or appropriate for evaluating an investment in the Companies (including a copy of a valuation report from Murray Devine dated January 10, 2005 as to the valuation of the Holdings I Class A Shares), and such
Purchaser has read carefully such documents, materials and information and understands and has evaluated the types of risks involved with a purchase of the Shares. Such Purchaser has not relied upon any representations or other information (whether
oral or written) from the Companies or their respective shareholders, directors, officers or affiliates, or from any other person or entity, in connection with his or her investment in the Shares. Such Purchaser acknowledges that the Companies have
not given any assurances with respect to the tax consequences of the acquisition, ownership and disposition of the Shares. 
 (f) Such
Purchaser has had, prior to his or her purchase of the Shares, the opportunity to ask questions of, and receive answers from, each of the Companies concerning the terms and conditions of the transactions contemplated by this Agreement and such
Purchaser’s investment in the Shares and to obtain additional information necessary to verify the accuracy of any information furnished to him or her or to which he or she had access. Such Purchaser confirms that he or she has satisfied himself
or herself with respect to any of the foregoing matters. 
 (g) Such Purchaser acknowledges that White & Case LLP
(“Counsel”) has been retained by the Companies to represent the Purchasers in connection with the transactions contemplated by this Agreement, and has had the opportunity to seek legal advice from, and has received legal
advice from, Counsel on this Agreement, the transactions contemplated hereby and all documents, materials and information that he or she has requested or read relating to an investment in the Shares and confirms that he or she has satisfied himself
or herself with respect to any of the foregoing matters. 
  

 4 

 (h) Such Purchaser understands that no U.S. federal or state or foreign agency has passed upon this
investment or upon either of the Companies, or upon the accuracy, validity or completeness of any documentation provided to such Purchaser in connection with the transactions contemplated by this Agreement, nor has any such agency made any finding
or determination as to this investment. 
 (i) Such Purchaser understands that there are substantial restrictions on the transferability
of the Shares and that on the date of the Closing and for an indefinite period thereafter there will be no public market for the Shares and, accordingly, such Purchaser may not be possible to liquidate his or her investment in case of emergency, if
at all. In addition, such Purchaser understands that the Management Shareholders Agreement referred to in Section 5 below contains substantial restrictions on the transferability of the Shares and provides that, in the event that the
conditions relating to the transfer of any Shares in such document has not been satisfied, the holder shall not transfer any such Shares, and unless otherwise specified the Companies will not recognize the transfer of any such Shares on their books
and records or issue any share certificates representing any such Shares, and any purported transfer not in accordance with the terms of the Management Shareholders Agreement shall be void. As such, Purchaser understands that: a restrictive legend
or legends in a form to be set forth in the Management Shareholders Agreement will be placed on the certificates representing the Shares; a notation will be made in the appropriate records of the Companies indicating that each of the Shares are
subject to restrictions on transfer and, if the Companies should at some time in the future engage the services of a securities transfer agent, appropriate stop-transfer instructions will be issued to such transfer agent with respect to the Shares;
and such Purchaser will sell, transfer or otherwise dispose of the Shares only in a manner consistent with its representations set forth herein and then only in accordance with the Management Shareholders Agreement. 
 (j) Such Purchaser understands that (i) the Shares may not be sold, transferred or otherwise disposed of without registration under the Securities
Act or an exemption therefrom, (ii) the Shares have not been registered under the Securities Act; (iii) the Shares must be held indefinitely and he or she must continue to bear the economic risk of the investment in the Shares unless such
Share is subsequently registered under the Securities Act or an exemption from such registration is available; (iv) such Purchaser is prepared to bear the economic risk of this investment for an indefinite period of time; (v) it is not
anticipated that there will be any public market for the Shares; (vi) the Shares are characterized as “restricted securities” under the U.S. federal securities laws; and (vii) the Shares may not be sold, transferred or otherwise
disposed of except in compliance with Bermuda law. 
 (k) Such Purchaser understands that this investment is not recommended for investors
who have any need for a current return on this investment or who cannot bear the risk of losing their entire investment. In that regard, such Purchaser understands that his or her investment in the Shares involves a high degree of risk of loss of
such Purchaser’s investment therein, and that such Purchaser may lose the entire amount of his or her investment. Such Purchaser acknowledges that: (i) he or she has adequate means of providing for his or her current needs and possible
personal contingencies and has no 

  

 5 

 
need for liquidity in this investment; (ii) his or her commitment to investments which are not readily marketable is not disproportionate to his or her
net worth; and (iii) his or her investment in the Shares will not cause his or her overall financial commitments to become excessive. 
 5. Management Shareholders Agreement. Each of the Companies and each Purchaser agree to enter into a management shareholders agreement (the “Management Shareholders Agreement”), substantially in the form
attached hereto as Exhibit A, simultaneously with this Agreement. 
 6. Accredited Investor Representation and Certificate.
Each Purchaser hereby represents and warrants, severally and not jointly, to each of the Companies that such Purchaser is an “accredited investor,” as such term is defined in Rule 501 of the Securities Act. Each Purchaser shall execute a
certificate substantially in the form attached as Exhibit B prior to the Closing. 
 7. No Right of Employment. Neither this
Agreement nor the purchase of the Shares pursuant hereto shall create, or be construed or deemed to create, any right of employment in favor of any Purchaser or any other person by either of the Companies or any of their subsidiaries. 
 8. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be considered an original, but all of which taken
together shall constitute one and the same Agreement. 
 9. No Waiver; Modifications in Writing. This Agreement, together with the
Management Shareholders Agreement and the other agreements referred to herein and therein and any exhibits, schedules or other documents referred to herein or therein, sets forth the entire understanding of the parties, and supersedes all prior
agreements, arrangements, term sheets, presentations and communications, whether oral or written, whether in term sheets, presentations or otherwise, with respect to the specific subject matter hereof. No waiver of or consent to any departure from
any provision of this Agreement shall be effective unless signed in writing by the party entitled to the benefit thereof, provided that notice of any such waiver shall be given to each party hereto as set forth below. Except as otherwise
provided herein, no amendment, modification or termination of any provision of this Agreement shall be effective unless signed in writing by or on behalf of each of the Companies and each Purchaser. Any amendment, supplement or modification of or to
any provision of this Agreement, any waiver of any provision of this Agreement, and any consent to any departure by either of the Companies from the terms of any provision of this Agreement, shall be effective only in the specific instance and for
the specific purpose for which made or given. Except where notice is specifically required by this Agreement, no notice to or demand on either of the Companies in any case shall entitle such Company to any other or further notice or demand in
similar or other circumstances. 
 10. Binding Effect; Assignment. The rights and obligations of each party under this Agreement may
not be assigned to any other person or entity. Except as 

  

 6 

 
expressly provided in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon any person or entity other than the
parties to this Agreement, and their respective successors and assigns. This Agreement shall be binding upon each of the Companies, each Purchaser and their respective heirs, successors, legal representatives and permitted assigns. 
 11. Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction. 
 12. Injunctive Relief. Each of the parties to this Agreement hereby acknowledges that in the event of a breach by any of them of any material
provision of this Agreement, the aggrieved party may be without an adequate remedy at law. Each of the parties therefore agrees that, in the event of a breach of any material provision of this Agreement, the aggrieved party may elect to institute
and prosecute proceedings to enforce specific performance or to enjoin the continuing breach of such provision, as well as to obtain damages for breach of this Agreement. By seeking or obtaining any such relief, the aggrieved party will not be
precluded from seeking or obtaining any other relief to which it may be entitled. 
 13. Survival of Agreements, Representations and
Warranties. All agreements, representations and warranties contained herein or made in writing by or on behalf of the each of the Companies or the Purchasers, as the case may be, in connection with the transactions contemplated by this Agreement
shall survive the execution and delivery of this Agreement and the sale and purchase of the Shares and payment therefor. 
 14. Schedules,
Exhibits and Descriptive Headings. All Schedules and Exhibits to this Agreement shall be deemed to be a part of this Agreement. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this
Agreement. 
 15. Governing Law. This Agreement shall be governed by the laws of New York, without regard to the conflicts of law
principles thereof. 
 [The remainder of this page has been intentionally left blank.] 
  

 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.

  

			
	WARNER CHILCOTT HOLDINGS COMPANY, LIMITED
		
	By:	 	  
	Name:	 	
	Title:	 	

  

			
	WARNER CHILCOTT HOLDINGS COMPANY II, LIMITED
		
	By:	 	  
	Name:	 	
	Title:	 	

	
	PURCHASERS:
	
	   
	[NAME]Form of Strip Grant Agreement

 Exhibit 10.54 
 WARNER CHILCOTT HOLDINGS COMPANY, LIMITED 
 WARNER CHILCOTT HOLDINGS COMPANY II, LIMITED

 FORM OF 
 STRIP GRANT AGREEMENT 
 GRANT TO:
[                    ] 
 THIS
AGREEMENT (the “Agreement”) is made effective as of March 28, 2005 (the “Grant Date”), between Warner Chilcott Holdings Company, Limited, a Bermuda exempted limited company (together with its
successors, “Warner Chilcott I”), Warner Chilcott Holdings Company II, Limited, a Bermuda exempted limited company (together with its successors, “Warner Chilcott II,” and together with Warner Chilcott
I, the “Companies,” (each of the Companies sometimes being referred to individually herein as a “Company”)) and
[                    ], who is an employee of Warner Chilcott I or one of its Subsidiaries (the “Grantee”). 
 WHEREAS, in connection with the Grantee’s employment with Warner Chilcott I or one of its Subsidiaries, on the date hereof, (i) Warner Chilcott
I desires to grant to the Grantee a certain number of Class A ordinary shares, par value $.01, of Warner Chilcott I (“Class A Common Shares”) and a certain number of Class L ordinary shares, par value $.01, of Warner
Chilcott I (“Class L Common Shares”), and (ii) Warner Chilcott II desires to grant to the Grantee a certain number of preferred shares, par value $.01, of Warner Chilcott II (“Preferred Shares”).

 WHEREAS, the Board of Directors of Warner Chilcott I has determined that it would be to the advantage, and in the best interest, of Warner
Chilcott I and its shareholders to grant the Class A Common Shares and the Class L Common Shares provided for herein to the Grantee, and the Board of Directors of Warner Chilcott II has determined that it would be to the advantage, and in the
best interest, of Warner Chilcott II and its shareholders to grant the Preferred Shares provided for herein to the Grantee, in each case as an incentive for increased efforts during his employment with Warner Chilcott I or one of its Subsidiaries.

 NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is
hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. GRANT OF STRIP SHARES 
 (a) Grant. Subject to the terms and conditions of this Agreement, (i) Warner Chilcott I hereby grants to the Grantee
[                    ] Class A Common Shares (the “Granted Class A Common Shares”) and
[                    ] Class L Common Shares (the “Granted Class L Common Shares”), and (ii) Warner Chilcott II hereby
grants to the Grantee [                    ] Preferred Shares (the “Granted Preferred Shares”). The Granted Class A
Common Shares, Granted Class L Common Shares and Granted Preferred Shares are referred to collectively herein as the “Granted Strip Shares”. 

 SECTION 2. ISSUANCE OF SHARES 
 (a) Share Certificates. Warner Chilcott I shall cause to be issued certificates for the Granted Class A Common Shares and Granted Class L Common Shares representing this award, and Warner Chilcott II shall cause to be issued
certificates for the Granted Preferred Shares representing this award, in each case registered in the name of the Grantee (or in the names of such person and his spouse as community property or as joint tenants with right of survivorship). In
connection with the execution of this Agreement, the Grantee shall deliver to Warner Chilcott I, in respect of all Granted Class A Common Shares and Granted Class L Common Shares, and Warner Chilcott II, in respect of all Granted Preferred
Shares, a duly-executed blank share power in the form attached hereto as Exhibit A. 
 (b) Voting Rights. The Grantee shall have voting rights
with respect to the Granted Strip Shares. 
 (c) Dividends. All cash dividends paid on unvested Granted Strip Shares (or on Granted Strip Share
Dividends) shall be paid directly to the Grantee. All share dividends, if any, that are paid on unvested Granted Strip Shares, and all share dividends, if any, that are paid on any share dividends (any such share dividends, “Granted Strip
Share Dividends”) shall be treated as set forth in Section 3(b). 
 (d) Section 83(b) Election. If the Grantee chooses, the
Grantee may make an election under Section 83(b) of the Code, which would cause the Grantee currently to recognize income for U.S. federal income tax purposes in an amount equal to the excess (if any) of the FMV of the award (determined as of
the date of the award) over the Purchase Price (if any), which excess will be subject to U.S. federal income tax. The form for making a Section 83(b) election is attached as Exhibit B. The Grantee acknowledges that it is the
Grantee’s sole responsibility to timely file the Section 83(b) election and that failure to file a Section 83(b) election within 30 days after the Grant Date may result in the recognition of ordinary income on any future appreciation
on the Granted Strip Shares. 
 (e) Withholding Requirements. Each of the Companies may withhold any tax (or other governmental obligation) as a
result of the grant of this award and/or the filing of a Section 83(b) election as a condition to the grant of this award, and the Grantee shall make arrangements satisfactory to the Company withholding such taxes to enable it to satisfy all
such withholding requirements. 
 SECTION 3. CERTAIN RESTRICTIONS 
 The following provisions shall apply to each Granted Strip Share until such share vests in accordance with Section 4: 
 (a) The
certificate representing such Granted Strip Share shall be held in custody by the relevant Company. 
  

 2 

 (b) All Granted Strip Share Dividends will be subject to the same restrictions as the Granted Strip Share to which such
Granted Strip Share Dividend relates and will be held in custody by the Company on the same terms as such Granted Strip Share. 
 (c) The certificate
representing such Granted Strip Share shall bear the legend provided for in the first sentence of Section 5(d). 
 (d) In the event that the
Grantee’s employment with Warner Chilcott I or the applicable Subsidiary thereof terminates prior to January 18, 2006 and such termination was by Warner Chilcott I (or the applicable Subsidiary thereof) for Cause or by the Grantee without
Good Reason, then all unvested Granted Strip Shares (and all Granted Strip Share Dividends related to such unvested Granted Strip Shares) shall be forfeited, and all of the Grantee’s rights, or the rights of any spouse or any Permitted
Transferee of such Grantee, to such unvested Granted Strip Shares (and such Granted Strip Share Dividends) shall terminate. 
 SECTION 4. VESTING OF
GRANTED STRIP SHARES 
 (a) Vesting. Subject to the provisions of this Agreement, all Granted Strip Shares shall vest on January 18, 2006,
provided that Granted Strip Shares may vest prior to January 18, 2006 as follows: 
 (i) if an IPO occurs prior to
January 18, 2006, all Granted Strip Shares vest immediately prior to the consummation of the IPO; 
 (ii) if a Change of
Control (including a Drag-Along Sale, as such term is defined in the Management Shareholder Agreement) occurs prior to January 18, 2006, all Granted Strip Shares vest immediately prior to the consummation of the Change of Control; and

 (iii) if a Tag-Along Sale (as such term is defined in the Management Shareholders Agreement) occurs prior to
January 18, 2006, all Granted Strip Shares sold by Grantee in such Tag-Along Sale, if any, vest immediately prior to the consummation of Tag-Along Sale. 
 (b) Effect of Vesting. Subject to the provisions of this Agreement, upon the vesting of any Granted Strip Shares: 
 (i) the restrictions referred to in Section 3 shall cease to exist with respect to such Granted Strip Shares; 
 (ii) the applicable Company will cause to be issued and delivered to the Grantee (or the applicable Permitted Transferee of the Grantee, if any) a certificate or certificates for the number of Granted Strip Shares which have so vested, and
the number of shares represented by the Granted Strip Share Dividends, if any, paid with respect to such Granted Strip Shares, without the legend provided for in the first sentence of Section 5(d); 
  

 3 

 (iii) the applicable Company will cause to be delivered to the Grantee (or the applicable
Permitted Transferee of the Grantee, if any) any Additional Property with respect to such vested Granted Strip Shares that are held in the custody of such Company; and 
 (iv) the applicable Company will cause to be issued a certificate or certificates for the remaining unvested Granted Strip Shares
registered in the name of the Grantee (or in the names of such person and his spouse as community property or as joint tenants with right of survivorship or the applicable Permitted Transferee of the Grantee, if any), which certificate or
certificates will continue to be held in the custody of the applicable Company in accordance with Section 3. 
 SECTION 5. SECURITIES LAW
ISSUES, TRANSFER RESTRICTIONS 
 (a) Grantee Acknowledgements and Representations. The Grantee understands and agrees that: (x) the Granted
Strip Shares have not been registered under the Securities Act, (y) the Granted Strip Shares are restricted securities under the Securities Act and (z) the Granted Strip Shares may not be resold or transferred unless they are first
registered under the Securities Act or unless an exemption from such registration is available. The Grantee hereby makes the representations and warranties set forth in Exhibit C hereto. 
 (b) No Registration Rights. Except as otherwise set forth in the Management Shareholders Agreement, the Companies may, but shall not be obligated to, register or
qualify the grant of Granted Strip Shares to the Grantee under the Securities Act or any other applicable law. Neither Company shall be obligated to take affirmative action to cause the grant of Granted Strip Shares to the Grantee to comply with any
law. 
 (c) Transfers. All Granted Strip Shares shall be subject to the provisions as to Transfer set forth in Article 3 of the Management
Shareholders Agreement. Unless otherwise permitted pursuant to the Management Shareholders Agreement, the Grantee shall not Transfer any Granted Strip Shares (x) except in compliance with the provisions of Article 3 of the Management
Shareholders Agreement, and (y) unless the transferee shall have agreed in writing to be bound by the terms of this Agreement in a manner mutually acceptable to the Board of Directors of each of the Companies and otherwise acknowledged that
such Granted Strip Shares are subject to the restrictions set forth in this Agreement. Any attempt to Transfer any Granted Strip Shares not in compliance with this Agreement shall be null and void and have no force or effect, and neither Company
shall, and each Company shall cause any transfer agent not to, give any effect in such entity’s share records to such attempted Transfer. The Grantee acknowledges that the transfer restrictions contained in this Agreement are reasonable and in
the best interests of the Companies. 
 (d) Legends. Each certificate representing Granted Strip Shares that have not vested shall be endorsed with a
legend in substantially the following form: 
 “The securities represented by this certificate are subject to a certain Strip Grant
Agreement, dated as of March 28, 2005, which provides, among other things, for certain restrictions on the transfer and encumbrance of such 

  

 4 

 
securities, and for the vesting of such securities according to particular provisions. A copy of such agreement is on file at the principal offices of the
Company.” 
 In addition to the legend set forth in the previous sentence, each certificate representing Granted Strip Shares shall
be endorsed with a legend in substantially the form set forth in Section 3.03 of the Management Shareholders Agreement. 
 SECTION 6. RIGHT OF
REPURCHASE 
 (a) Right of Repurchase. All Granted Strip Shares, and any Granted Strip Share Dividends, shall be subject to the provisions of
Article 5 of the Management Shareholders Agreement with respect to the repurchase of the Granted Strip Shares by Warner Chilcott I or Warner Chilcott II, as applicable (or their assignees permitted pursuant to such Article 5);
provided, that, Granted Strip Share Dividends shall be treated in the same manner, and shall be subject to the same provisions on process, as the Granted Strip Shares are pursuant to such Article 5 of the Management Shareholders
Agreement. 
 (b) Non-Exercise of Right of Repurchase. In the event that (i) a Company has a right pursuant to Article 5 of the Management
Shareholders Agreement to repurchase an unvested Granted Strip Share, and (ii) such Company elects not to exercise such right (and does not assign such right to a Person who exercises such right), in each case pursuant to such Article 5,
then such Granted Strip Share shall vest. 
 SECTION 7. MISCELLANEOUS PROVISIONS 
 (a) No Retention Rights. Nothing in this Agreement shall confer upon the Grantee any right to continue in Service or interfere with or otherwise restrict in any way the rights of Warner Chilcott I (or any
Subsidiary employing the Grantee), which rights are hereby expressly reserved by Warner Chilcott I, to terminate the Grantee’s Service at any time and for any reason, with or without Cause. 
 (b) Notices. All notices, requests and other communications under this Agreement shall be in writing and shall be delivered in person (by courier or otherwise),
mailed by certified or registered mail, return receipt requested, or sent by facsimile transmission, as follows: 
 If to
either of the Companies, to: 
 c/o Warner Chilcott Holdings Company, Limited 
 100 Enterprise Drive 
 Rockaway, NJ 07866 
 Attention: General Counsel 
 Facsimile: (973) 442-3283 
 If to the Grantee, to the address that he most recently provided to Warner Chilcott I, 
  

 5 

 or, in each case, at such other address or fax number as such party may hereafter specify for the purpose of notices
hereunder by written notice to the other party hereto. All notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a
Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. Any notice, request or other written communication
sent by facsimile transmission shall be confirmed by certified or registered mail, return receipt requested, posted within one Business Day, or by personal delivery, whether by courier or otherwise, made within two Business Days after the date of
such facsimile transmissions; provided that such confirmation mailing or delivery shall not affect the date of receipt, which will be the date that the facsimile successfully transmitted the notice, request or other communication. 
 (c) Entire Agreement. This Agreement, together with the Management Shareholders Agreement, and the other agreements referred to herein and therein and any
schedules, exhibits and other documents referred to herein or therein constitute, the entire agreement and understanding among the parties hereto in respect of the subject matter hereof and thereof and supersede all prior and contemporaneous
arrangements, agreements and understandings, both oral and written, whether in term sheets, presentations or otherwise among the parties hereto, or between any of them, with respect to the subject matter hereof and thereof. 
 (d) Amendment; Waiver. No amendment or modification of any provision of this Agreement shall be effective unless signed in writing by or on behalf of the
Companies and the Grantee. The failure of Warner Chilcott I or Warner Chilcott II, as the case may be, in any instance to exercise the Right of Repurchase shall not constitute a waiver of any other repurchase rights that may subsequently arise under
the provisions of this Agreement or any other agreement between either of the Companies and the Grantee. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or condition whether of
like or different nature. Any amendment or modification of or to any provision of this Agreement, or any waiver of any provision of this Agreement, shall be effective only in the specific instance and for the specific purpose for which made or
given. 
 (e) Assignment. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be
assignable by the Grantee except pursuant to a Transfer of Granted Strip Shares in accordance with the provisions of this Agreement. 
 (f) Successors and
Assigns; No Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the Companies and the Grantee and their respective heirs, successors, legal representatives and permitted assigns. Nothing in this Agreement,
expressed or implied, is intended to confer on any Person other than the Companies and the Grantee, and their respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities under or by
reason of this Agreement. 
 (g) Governing Law, Venue. All issues concerning the relative rights of the Companies and the Grantee with respect to each
other shall be governed by the laws of Bermuda. All other issues concerning the construction, validity and interpretation of this Agreement, and the rights and obligations of the parties hereunder, shall be governed by, and construed in accordance
with, 

  

 6 

 
the laws of the State of New York applicable to contracts made and performed entirely within such state, without regard to the conflicts of laws rules of
such state. Any legal action or proceeding with respect this Agreement shall be brought in the courts of the United States for the Southern District of New York, and, by execution and delivery of this Agreement, each party hereby irrevocably accepts
for itself and in respect of its property, generally and unconditionally, the exclusive jurisdiction of such courts. Each party irrevocably waives any objection which it may now or hereafter have to the laying of venue of the aforesaid actions or
proceedings arising out of or in connection with this Agreement in the courts referred to in this paragraph and hereby further irrevocably waives and agrees not to plead or claim in any such court that any such action or proceeding brought in any
such court has been brought in an inconvenient forum. 
 (h) Waiver of Jury Trial. The Grantee hereby irrevocably waives all right of trial by jury in any
legal action or proceeding (including counterclaims) relating to or arising out of or in connection with this Agreement or any of the transactions or relationships hereby contemplated or otherwise in connection with the enforcement of any rights or
obligations hereunder. 
 (i) Interpretation. Unless otherwise expressly provided, for purposes of this Agreement, the following rules of
interpretation apply: 
 Headings. The division of this Agreement into Sections and other subdivisions and the
insertion of headings are for convenience of reference only and do not alter the meaning of, or affect the construction or interpretation of, this Agreement. 
 Section References. All references in this Agreement to any “Section” are to the corresponding Section of this
Agreement. 
 Exhibits. Any capitalized terms used in any Exhibit to this Agreement but are not otherwise
defined therein have the meanings set forth in this Agreement. 
 (j) Severability. If any provision of this Agreement is invalid, illegal, or
incapable of being enforced by any law, all other provisions of this Agreement remain in full force and effect so long as the economic and legal substance of the transactions contemplated hereby are not affected in any manner materially adverse to
any party. If any provision of this Agreement is held to be invalid, illegal, or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as
possible in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 
 (k)
Counterparts. The parties may execute this Agreement in one or more counterparts, each of which constitutes an original copy of this Agreement and all of which, collectively constitute only one agreement. The signatures of all the parties
need not appear on the same counterpart. 
 (l) Undertaking. The Grantee agrees to take whatever additional action and execute whatever additional
documents either Company may deem necessary or advisable to carry out or effect one or more of the obligations or restrictions imposed on either the Grantee or upon the Granted Strip Shares pursuant to the provisions of this Agreement. The Company
agrees to take 

  

 7 

 
whatever additional action and execute whatever additional documents are necessary or advisable to carry out or effect one or more of the obligations of the
Company pursuant to the provisions of this Agreement. 
 (m) Management Shareholders Agreement; Counsel. The Grantee acknowledges and understands that
material definitions and provisions concerning the Granted Strip Shares and the Grantee’s rights and obligations with respect thereto are set forth in the Management Shareholders Agreement. The Grantee has read carefully, and understands, the
provisions of such document. White & Case LLP (“Counsel”) has been retained by the Companies to represent the Grantee in connection with the transactions contemplated by this Agreement. The Grantee has had the
opportunity to seek legal advice from Counsel on this Agreement and the transactions contemplated hereby. 
 SECTION 8. DEFINITIONS 
 (a) “Affiliate” means, with respect to any Person, any other Person who, directly or indirectly, controls such first Person or is controlled by
said Person or is under common control with said Person, where “control” means the power and ability to direct, directly or indirectly, or share equally in or cause the direction of, the management and/or policies of a Person, whether
through ownership of voting shares or other equivalent interests of the controlled Person, by contract (including proxy) or otherwise. 
 (b)
“Business Day” has the meaning ascribed to such term in the Management Shareholders Agreement. 
 (c) “Cause”
has the meaning ascribed to such term in the Management Shareholders Agreement, except that the reference therein to a Management Shareholder shall be to the Grantee. 
 (d) “Change of Control” has the meaning ascribed to such term in the Management Shareholders Agreement. For the avoidance of doubt, a Change of Control shall not include an IPO unless the
definition of Change of Control is otherwise satisfied. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended from time
to time, and the regulations promulgated thereunder. 
 (f) “Employee” means any individual who is a common-law employee of Warner
Chilcott I or a Subsidiary thereof. 
 (g) “FMV” with respect to a Granted Strip Share means the fair market value of such Granted
Strip Share, as determined in good faith by the Board of Directors of Warner Chilcott I, in the case of a Granted Class A Common Share or a Granted Class L Common Share, or the Board of Directors of Warner Chilcott II, in the case of a Granted
Preferred Share. Any such determination shall be conclusive and binding on all persons. 
 (h) “Good Reason” has the meaning ascribed
to such term in the Management Shareholders Agreement, except that the reference therein to a Management Shareholder shall be to the Grantee. 
  

 8 

 (i) “IPO” has the meaning ascribed to such term in the Management Shareholders Agreement.

 (j) Management Shareholders Agreement” means that certain Management Shareholders Agreement dated as of the date hereof by and among
Warner Chilcott I, Warner Chilcott II, Warner Chilcott Holdings Company III, Limited, the Grantee and the other parties thereto (as the same shall be amended, modified or supplemented from time to time). 
 (k) “Permitted Transferee” has the meaning ascribed to such term in the Management Shareholders Agreement. 
 (l) “Person” means an individual, corporation, limited liability company, partnership, association, trust or other entity or organization.

 (m) “Purchase Price” means the price, if any, paid by the Grantee for the Granted Strip Shares. 
 (n) “Right of Repurchase” means the rights of repurchase by Warner Chilcott I and Warner Chilcott II described in Section 6 of this
Agreement. 
 (o) “Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 (p) “Service” means service as an Employee. 
 (q) “Subsidiary” means, with respect to any specified Person, any other Person in which such specified Person, directly or indirectly through one or more Affiliates or otherwise, beneficially
owns at least 50% of either the ownership interest (determined by equity or economic interests) in, or the voting control of, such other Person. 
 (r)
“Transfer” has the meaning ascribed in such term in the Management Shareholders Agreement. 
  

 9 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first written above.

  

			
	WARNER CHILCOTT HOLDINGS COMPANY, LIMITED
		
	By:	 	  
		 	Name:
		 	Title:

  

			
	WARNER CHILCOTT HOLDINGS COMPANY II, LIMITED
		
	By:	 	  
		 	Name:
		 	Title:

  

			
		
	  	 	  
		 	[Name]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]