Document:

Exhibit 4.1

     AGREEMENT dated as of October 19, 2000 (this "Agreement") among ICN
PHARMACEUTICALS, INC., a Delaware corporation (the "Company"), and
RELATIONAL INVESTORS, L.L.C., a Delaware limited liability company
("RILLC"), on behalf of itself and each of its affiliates (as such terms
are defined in Rule 12b-2 under the Securities Exchange Act of 1934, as
amended) (RILLC and its affiliates are hereinafter referred to as the
"Shareholders").

     The Shareholders have submitted to the Company a letter, dated October
19, 2000 (the "Nomination Notice"), proposing five nominees to stand for
election to the Company's Board of Directors (the "Board") at the 2000
Annual Meeting of Stockholders of the Company (the "2000 Annual Meeting").
David H. Batchelder has submitted to the Company a letter dated October
19, 2000 (the "Resignation Letter"), resigning as a Director of the Company
effective immediately.

     The Shareholders and the Company are entering into this Agreement to
define the future relationship between the Shareholders and the Company in
consideration of the mutual covenants contained herein. Accordingly, it is
hereby agreed as follows:

     SECTION 1. Withdrawal of Nomination Notice.

     The Shareholders will withdraw the Nomination Notice and the
Shareholders will have waived any right to submit a new Nomination Notice
in connection with the 2000 Annual meeting. Mr. Batchelder will revoke the
Resignation Letter and the Company will accept such revocation, and hereby
reinstating Mr. Batchelder as a Director of the Company.

     SECTION 2. Board Representation.

     Mr. Batchelder will resign from the Company's Board of Directors
within five (5) days of the Company's request if such request is made prior
to the 2000 Annual Meeting. If Mr. Batchelder resigns as a Director prior
to the 2000 Annual Meeting, voluntarily or otherwise, and the Shareholders
subsequently determine, in their sole discretion, that the Company has not
made sufficient progress in executing its restructuring, then within 60 to
90 days prior to the 2001 Annual Meeting of Stockholders of the Company,
the Shareholders may request and, if requested the Company will cause a
nominee designated by the Shareholders to be appointed to, as well as
nominated for election to, the Company's Board of Directors in the class of
directors with a term expiring at the annual meeting of the Company's
shareholders to be held in 2004, and if nominee is not elected as a
director at the annual meeting of the Company's shareholders to be held in
2001, then the Company will promptly after such meeting cause such nominee
to be appointed to the Company's Board of Directors.

     Within ten (10) days following execution of the Agreement, the Company
will pay to the Shareholders all directors fees Including stock options due
Mr. Batchelder for his service as a Director of the Company. Such stock
options will permit the exercise thereof for a period of at least thirty
(30) days following Mr. Batchelder's resignation as a Director.

     SECTION 3. Specific Performance.

     The Shareholders and the Company agree that the parties would not have
an adequate remedy at law for money damages and that money damages would be
incalculable if any of the covenants or agreements in this Agreement were
not performed in accordance with its terms and therefore further agree that
the parties shall be entitled to specific enforcement of such covenants or
agreements and to injunctive and other equitable relief in addition to any
other remedy to which they may be entitled at law or in equity. No delay or
failure by any party hereto in exercising any right, power or privilege
hereunder will operate as a waiver hereof, nor will any single or partial
exercise thereof preclude any other or further exercise of any right, or
privilege hereunder.

     SECTION 4. Entire Agreement.

     This Agreement (i) constitutes the entire agreement between the
parties with respect to the subject matter hereof and supersedes all other
prior agreements and understandings, both written and oral, among the
parties with respect to the subject matter hereof, including the Agreement
dated as of August 18, 1999, and is not intended to confer upon any person
other than the parties hereto any rights or remedies hereunder and (ii)
shall not be assigned by operation of law or otherwise without the prior
written consent of the other parties. Any attempted assignment or transfer
in violation of this Section 4 shall be void and of not effect. Subject to
the foregoing, this Agreement shall be binding upon the successors and
assigns of the Shareholders and any person controlled by any of the
Shareholders or such successors and assigns. RILLC agrees to cause its
affiliates, including any managing member of RILLC, to comply with the
obligations hereunder.

     SECTION 5. Severability.

     If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Agreement shall remain in full force and effect,
unless such action would substantially impair the benefits to any party of
the remaining provisions of this Agreement. The parties shall endeavor in
good faith negotiations to replace any invalid, void or unenforceable
provision with a valid and enforceable provision the effects of which come
as close as possible to those of such invalid, void or unenforceable
provision.

     SECTION 6. Notices.

     Any notices and other communications required to be given pursuant to
this Agreement shall be delivered by hand, by registered or certified mail,
postage prepaid, return receipt requested, by private courier, by facsimile
or by telex, as follows:

     If to the Company:

               ICN Pharmaceuticals, Inc.
               3300 Hyland Avenue
               Costa Mesa, California 92626
               Attn:  Executive Vice President and General Counsel
               Telecopier:  (714) 641-7206

     If so she Shareholders:

               c/o Relational Investors, LLC
               11975 El Camino Real, Suite 300
               San Diego, California 92130
               Attention: Ralph V. Whitworth
               Telecopier:(858) 704-3333

     SECTION 7. Term.

     This Agreement will terminate on the date of the Annual Meeting of the
Company's shareholders to be held in 2002.

     SECTION 8. Governing Law; Jurisdiciton; etc.

     This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware, without regard to any applicable
conflicts of law principles of such State. Each of the parties irrevocably
submits to the exclusive jurisdiction and service and venue in any federal
or state court sitting in the State of Delaware for the purposes of any
action, suit or proceeding relating to this Agreement. Each of the parties
irrevocably and unconditionally waives any objection to the laying of venue
of any action, suit or proceeding relating to this Agreement in any federal
or state court sitting in the State of Delaware, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in
any such court that any such action, suit or proceeding brought in any such
court has been brought in an inconvenient forum. This Agreement may be
executed in one or more counterparts, which together will constitute a
single agreement. this Agreement may not be amended except by a writing
signed by all of the parties.

     SECTION 9. Further Actions.

     Subject to the terms and conditions of this Agreement, each of the
parties agrees to use all commercially reasonable efforts to take, or cause
to be taken, all action necessary, proper or advisable to consummate and
make effective the transactions contemplated by this Agreement.

     IN WITNESS WHEREOF, the Company and RILLC have caused this Agreement
to be duly executed as of the day and year first above written.

                             ICN PHARMACEUTICALS. INC.

                             By: /s/ David C. Watt
                                ----------------------------------
                                David C. Watt
                                Executive Vice President and General Counsel

                             RELATIONAL INVESTORS, LLC.

                             By: /s/ David H. Batchelder
                                ----------------------------------
                                David H. Batchelder
                                Managing MemberExhibit 4.2

            [LETTERHEAD OF SSP-SPECIAL SITUATIONS PARTNERS INC.]

                              October 19, 2000

ICN Pharmaceuticals, Inc.
3300 Hyland Avenue
Costa Mesa, California 92626

Dear Sirs:

     The purpose of this letter is to set forth the following agreements
and understandings between ICN Pharmaceuticals, Inc. (the "Company") and
SSP-Special Situations Partners Inc. ("SSP").

     Section 1. Press Release. Concurrent with the execution of this Letter
Agreement, the Company has issued a press release in the form attached
hereto as Annex A (the "Press Release"). The Company shall not (and shall
cause its officers, directors, agents and advisors not to) make any public
statement in connection with this Letter Agreement or the matters addressed
in the Press Release that is inconsistent with the Press Release.

     Section 2. Annual Meetings of Shareholders. As a means for SSP and the
stockholders of the Company to enforce the commitments of the Company set
forth in the Press Release, the Company agrees that:

     (i) The board of directors of the Company (the "Board") and the
Company shall take all steps necessary or desirable to hold the 2001 annual
meeting of stockholders of the Company by not later than May 30, 2001 (the
"2001 Meeting") and the 2002 annual meeting of stockholders of the Company
not later than May 29, 2002 (the "2002 Meeting"), and shall not seek to
postpone or adjourn, or permit the postponement or adjournment, of either
the 2001 Meeting or the 2002 Meeting.

     (ii) The Board and the Company shall by not later than the 2002
Meeting, in accordance with applicable law, cause the size of the Board to
be reduced to, and fixed at nine directors, divided into three classes of
three directors. Such reduction shall be accomplished by reducing to three
the number of directors to be elected at each annual meeting of
stockholders of the Company (together with a concomitant reduction in the
size of the entire Board) beginning, seriatim, with the 2000 annual meeting
of stockholders of the Company (the "2000 Meeting").

     (iii) The Board and the Company shall take all steps necessary or
desirable to procure that at each of the 2000 Meeting, the 2001 Meeting and
the 2002 Meeting, the stockholders are entitled to elect exactly three
directors and that the number of directors to be elected at the 2002
Meeting, when taken together with the number of directors elected at the
2001 Meeting, shall in no event constitute less than two-thirds of the
entire Board at the date of the 2002 Meeting.

     (iv) The Company shall not (and shall cause its officers, directors,
agents and advisors not to) take any action (including increasing the size
of the Board or proposing any amendments to its Restated Certificate of
Incorporation or By-laws) that would impede or prevent (A) the Company from
complying fully with the terms of this Letter Agreement or (B) any person
who has complied with the Company's Restated Certificate of Incorporation
and any other applicable law from making any shareholder proposals or
nominations at, or from soliciting proxies in respect of, the 2001 Meeting
or the 2002 Meeting.

     (v) The Board shall, as soon as possible but by not later than October
24, 2000, duly adopt, in accordance with the charter documents of the
Company and in accordance with the Delaware General Corporation law, an
amendment to the Company's By-laws in the form attached hereto as Annex B.

     Section 3. SSP Covenant. SSP hereby covenants and agrees that it will
not, and will cause each of its affiliates not to, nominate or propose to
nominate any person for election at, or bring or propose to bring any
matter before, the 2000 annual meeting of stockholders of the Company.

     Section 4. Representations and Warranties. (a) The Company represents
and warrants to SSP that (i) its execution, delivery and performance of
this Letter Agreement has been approved by the Board and does not violate
its Restated Certificate of Incorporation or Bylaws or any agreement to
which it is a party, and (ii) this Letter Agreement constitutes a valid and
binding obligation of the Company, enforceable against the Company in
accordance with its terms.

     (b) SSP represents and warrants to the Company that (i) its execution,
delivery and performance of this Letter Agreement has been approved by all
necessary corporate approvals and does not violate its constituent
documents or any agreement to which it is a party, and (ii) this Letter
Agreement constitutes a valid and binding obligation of SSP, enforceable
against SSP in accordance with its terms.

     Section 5. Miscellaneous. This Letter Agreement represents the entire
understanding of the parties hereto with reference to the subject matter
hereof and supersedes any and all other oral or written agreements and
understandings among the parties heretofore made. This Letter Agreement
shall be governed by, and construed in accordance with, the laws of the
State of Delaware. Each of the parties hereto shall use such party's best
efforts to take such actions as may be necessary or reasonably requested by
the other party hereto to carry out and consummate the transactions
contemplated by this Letter Agreement. No party to this Letter Agreement
directly or indirectly, shall, or shall permit anyone acting on its behalf
to challenge the validity or enforceability of any provision of this Letter
Agreement or the matters contemplated hereby. The parties hereto agree that
irreparable damage may occur in the event that any provision of this Letter
Agreement is not performed in accordance with the terms hereof and that the
non-breaching party will be entitled (in addition to any other remedy at
law or equity) to an injunction or injunctions to prevent breaches of the
provisions of this Letter Agreement and to enforce the terms and provisions
of this Letter Agreement by a decree of specific performance in any action
instituted in any court of the United States or any state thereof having
jurisdiction without the necessity of proving the inadequacy of a remedy of
money damages. If any term or other provision of this Letter Agreement is
invalid, illegal or incapable of being enforced by any rule of law or
public policy, all other conditions and provisions of this Letter Agreement
shall nevertheless remain in full force and effect.

     If the terms of this Letter Agreement are in accordance with your
understandings and agreements with us, please sign and return the enclosed
duplicate of this letter, whereupon this Letter Agreement shall constitute
a binding agreement between us.

                                 Very truly yours,

                                 SSP-SPECTAL SITUATIONS PARTNERS INC.

                                 By /s/ Eric Knight
                                   ----------------------------------

Accepted and agreed to as of
the date first above written:

ICN PHARMACEUTICALS, INC.

By /s/David C. Watt
   ---------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}]]