Document:

Exhibit 4.13

 

FIRST AMENDMENT TO EXECUTIVE
STOCK AGREEMENT

 

THIS FIRST AMENDMENT is made as of this 6th day of May, 2005
by and among MWI VETERINARY SUPPLY, INC., a
Delaware corporation, formerly known as MWI HOLDINGS, INC.
(the “Company”), MWI VETERINARY SUPPLY CO. (“MWI”) and
MARY PATRICIA B. THOMPSON (the “Executive”).

 

 

BACKGROUND

 

A.            The
Company, MWI and the Executive are parties to that Executive Stock Agreement
dated June 18, 2002 (the “Agreement”). 
All capitalized terms not specifically defined herein shall have the
meanings ascribed to them in the Agreement.

 

B.            The
Company, MWI and the Executive now desire to amend the Agreement as hereinafter
provided.

 

 

AGREEMENT

 

NOW, THEREFORE, the parties hereto, intending to be
legally bound hereby, covenant and agree as follows:

 

                1.             Section 12(a) of the Agreement is
hereby amended and restated in its entirety as follows:

 

“Termination of
Repurchase/Put Option.  The right of the Holding
Company to exercise the Repurchase Option and the right of the Executive
Parties to exercise the Put Option shall each expire on the earlier to occur of
the (i) fifth annual anniversary of the date hereof, (ii) date of consummation
of an Initial Public Offering, or (iii) date of consummation of a Sale of the
Company.”

 

                2.             Except as expressly amended hereby,
the Agreement shall remain unmodified and in full force and effect.

 

                IN WITNESS WHEREOF, the parties hereto have caused this
First Amendment to Executive Stock Purchase Agreement to be executed the day
and year first above written.

 

 

 

	
   

  	
  MWI VETERINARY SUPPLY, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Mary Pat Thompson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name: Mary Pat Thompson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:   VP
  & CFO

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  MWI VETERINARY SUPPLY CO.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Mary Pat Thompson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name: Mary Pat Thompson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:   VP
  & CFO

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  EXECUTIVE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ Mary Patricia B. Thompson

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Mary Patricia B. Thompson

  	
   

  

 

 

2EXHIBIT 10.16

 

ETHICAL DISTRIBUTION AGREEMENT

 

This DISTRIBUTION AGREEMENT is made and entered into as of the first
day of January, 2004, by and between FORT DODGE ANIMAL HEALTH, a division of
Wyeth (“FORT DODGE”), with offices at 9225 Indian Creek Parkway, Suite 400,
Overland Park, Kansas 66210 and MWI VETERINARY SUPPLY CO. (“DISTRIBUTOR), with
offices at 651 S. Stratford Drive, Suite 100, Meridian, ID 83642.

 

WHEREAS, FORT DODGE is the developer, manufacturer and supplier of
animal health products and has elected to identify and work with a select group
of distributors that are and will be committed to maximizing the sales and
distribution of the Products as hereinafter described; and

 

WHEREAS, the DISTRIBUTOR desires to act as F0R.T DODGE’S distributor of
such Products in the Territory as hereinafter described.

 

NOW, THEREFORE, in consideration of the premises and of the performance
of the mutual covenants hereinafter set forth, the parties hereto agree as
follows:

 

1.                                      DESIGNATION
AS DISTRIBUTOR

 

1.1                                 Upon
and subject to the terms and conditions contained herein, FORT DODGE hereby
designates the DISTRIBUTOR, on a nonexclusive basis, as an authorized
distributor of FORT DODGE Products in the territory set forth in Schedule A
(“Territory”).

 

1.2                                 DISTRIBUTOR
agrees to ship Products only to the states listed in Schedule A.

 

1.3                                 DISTRIBUTOR
approved products are listed in Schedule B (“Products”).

 

1.4                                 FORT
DODGE reserves the right to expand or reduce the Territory upon thirty (30)
days written notice to the DISTRIBUTOR. 
During the term of this Agreement the DISTRIBUTOR may submit to FORT
DODGE a request to expand its Territory. 
The request must set forth the business rationale for the expansion,
including the projected sales of additional Product.  FORT DODGE will notify DISTRIBUTOR of its
decision within thirty (30) days after receipt of the request.  Expansion of a DISTRIBUTOR’S Territory shall
be in FORT DODGE’S sole discretion.

 

1.5                                 DISTRIBUTOR
agrees to make deliveries of Products only within the Territory.  DISTRIBUTOR shall have no right to distribute
the Products to an authorized or a non-authorized distributor or any person or
entities that may further distribute the Products

 

 

without the
prior written approval of FORT DODGE. 
All authorized distributors shall purchase all FORT DODGE Products from
FORT DODGE and no other source.

 

1.6                                 Shipments
to any areas outside of the Territory or in violation of Section 1.5 will
not qualify for free goods reimbursement (should any apply), move-out rebate
payments or other similar payments under FORT DODGE promotional programs.  The amount of any non-qualified shipment will
be deducted from DISTRIBUTOR’S purchases to determine qualified purchase
performance rebates.

 

1.7                                 DISTRIBUTOR
hereby accepts the appointment as distributor of the Products and agrees to use
its best efforts to promote and sell the Products during the term of this
Agreement.

 

2.                                      PURCHASE
AND SALE OF PRODUCTS

 

2.1                                 The
price FORT DODGE charges to Distributor for the Products shall be the price
FORT DODGE may establish, from time to time, on FORT DODGE’S Distributor Price
List.  Price lists shall be supplied to
DISTRIBUTOR and the price list in effect at the time the goods are shipped
shall be the controlling one.  All
purchases by DISTRIBUTOR pursuant to this Agreement shall be in accordance with
the prices, terms and conditions set forth as a part of the Distributor Price
List, then in effect.  A copy of the
current Distributor Price List is attached hereto as Schedule B.  FORT DODGE will provide thirty (30) days
notice prior to a price increase.  Fort
Dodge reserves the right at any time to limit monthly purchases by the
DISTRIBUTOR to one twelfth (1/12) of DISTRIBUTOR’S previous year’s
purchases.  The price the DISTRIBUTOR
charges for the Products shall be established solely by the DISTRIBUTOR and
under its sole and complete control.

 

2.2                                 Notwithstanding
any other provision of this Agreement, FORT DODGE reserves the right at any
time to allocate its supplies of any particular Product among its customers in
proportion to their orders, or otherwise partially fill their orders, whenever
such Product(s) are back-ordered or otherwise not available for sale in
sufficient quantity to meet all orders then on hand.

 

3.                                      PAYMENT

 

3.1                                 Unless
otherwise agreed by the parties, payment is due within ten (10) days of
the month following the date of invoice for the Product(s) purchased.  No shipments will be made to accounts with
past due balances of sixty (60) days or more.

 

4.                                      PROMOTION
AND MARKETING

 

4.1                                 DISTRIBUTOR
agrees to:

 

4.1.1                        Meet
with FORT DODGE management and develop an annual business plan that describes
DISTRIBUTOR’S actions to achieve specific marketing objectives and performance
requirements as provided by FORT DODGE. 
DISTRIBUTOR further agrees to meet with FORT DODGE management during the
year as requested.

 

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4.1.2                        Actively
promote and solicit sales of the Products and pay its field sales
representatives a minimum commission of two percent (2%) of selling price on
the Products.  As a part of its efforts,
DISTRIBUTOR shall include the Products in its regular sales promotions
throughout the calendar year. 
DISTRIBUTOR agrees to feature FORT DODGE Products in customer sales
flyers, special sheets and electronic communications; provided FORT DODGE
supplies the information by the 10th of the prior month.  DISTRIBUTOR shall submit to FORT DODGE copies
of its sales literature to demonstrate that this promotional activity has been
accomplished.

 

4.1.3                        To
implement all FORT DODGE pull-through programs to veterinarians, dealers and
producers.

 

4.1.4                        Educate
and spend a minimum of 20 hours training DISTRIBUTOR sales personnel on FORT
DODGE Products, including inside and outside sales people, at DISTRIBUTOR’S
sales meetings, or at such other location as may be mutually agreed by the
parties.  DISTRIBUTOR agrees to include
FORT DODGE sales representative(s) in all DISTRIBUTOR sales meetings where
suppliers are included in the program. 
At such sales meetings, DISTRIBUTOR agrees to allot FORT DODGE a minimum
time slot of two (2) hours for its presentation.

 

4.1.5                        Arrange
for FORT DODGE representatives to meet and make sales calls with DISTRIBUTOR’S
representatives for the purpose of training them to sell the Products, at a
time requested by the FORT DODGE representative.

 

4.1.6                        In
cooperation with FORT DODGE, plan and execute periodic campaigns designed to (i) open
new accounts; (ii) increase professional usage of products; (iii) increase
inventory levels and (iv) rotate inventory to insure Product freshness and
presentable packaging at the resale level.

 

4.1.7                        Provide
FORT DODGE with timely, complete and accurate data on market conditions and
competitive offerings.

 

4.1.8                        Abide
by all applicable governmental regulations governing the advertising, sales and
promotion of the Products.  DISTRIBUTOR
agrees to make no representations or warranties with respect to the Products,
other than such representations issued or approved in writing by FORT DODGE.

 

4.1.9                        Provide
accurate daily reported sales and weekly inventory information to FORT DODGE on
a weekly basis.  DISTRIBUTOR agrees to
use the AHI Electronic Data Interchange System (EDI) as the primary method of
transmitting inventory data and sales information to FORT DODGE.  DISTRIBUTOR agrees to report inventories to
FORT DODGE via ED1 the second Friday of each month.  The EDI format system to be utilized for
transmitting sales data shall be in the format as defined by FORT DODGE.  FORT DODGE reserves the right to modify this
format as it solely deems necessary. 
Also, DISTRIBUTOR agrees to continue to supply sales information to
Sterling Ordernet as requested by FORT DODGE and any current paper reporting
until the information has been

 

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validated.  Any falsification of sales and inventory data
will be grounds for immediate termination

 

4.1.10                  Permit
FORT DODGE, upon reasonable notice and during regular business hours, to enter
its premises to take a physical inventory of the Products at each DISTRIBUTOR
location at least twice per year.

 

4.2                                 FORT
DODGE agrees to:

 

4.2.1                        Permit
DISTRIBUTOR to participate in its current Distributor Incentive Program.  The Distributor Incentive Program may be
modified from time to time in FORT DODGE’S sole discretion.  Products introduced by FORT DODGE during the
term of this Agreement may be included hereunder at FORT DODGE’S sole
discretion.

 

4.2.2                        Supply
DISTRIBUTOR with such sales and promotional literature for the Products as FORT
DODGE may determine, including, but not limited to, bulletins, brochures and
advertising reprints for use by DISTRIBUTOR in selling the Products covered
under this Agreement.  FORT DODGE
reserves the right to limit quantities of such items supplied to
DISTRIBUTOR.  FORT DODGE shall not be
responsible for or incur any liability in connection with any sales or
promotional literature not provided by it.

 

5.                                      DELIVERY
AND RISK OF LOSS

 

5.1                                 Title
to the goods shall pass to DISTRIBUTOR upon delivery to the carrier.

 

5.2                                 Any
sales or use tax upon the sale and/or shipment of the Products by the
DISTRIBUTOR now or hereafter imposed by state or municipal authorities shall be
collected and remitted to the respective authorities by the DISTRIBUTOR.

 

5.3                                 DISTRIBUTOR
agrees to pay a service charge of $500 plus $300 per day for each shipment
DISTRIBUTOR requests be delayed from the previously scheduled delivery date if
delivered within posted shipping hours. 
These rates shall be subject to change upon thirty (30) days prior
written notice to DISTRIBUTOR.

 

6.                                      WARRANTIES
AND LIMITATION OF LIABILITY

 

6.1                                 FORT
DODGE warrants that the products sold to DISTRIBUTOR under this Agreement shall
conform to the description contained in the labeling therefor.  FORT DODGE MAKES NO WARRANTY AS TO MERCHANTABILITY
OR THE FITNESS OF THE PRODUCTS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY,
EXPRESS OR IMPLIED, WHICH EXTENDS BEYOND THE DESCRIPTION CONTAINED IN THE
LABELING OF THE PRODUCTS.  In no event
shall FORT DODGE be liable lo DISTRIBUTOR for loss of profit or use, special,
collateral, incidental or consequential damages in connection with or arising
out of the purchase, resale or use of the Products, whether such liability is
based or claimed to be based, in contract, tort or otherwise.

 

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6.2                                 FORT
DODGE will defend, indemnify and hold harmless DISTRIBUTOR, its officers,
directors, employees, insurers, agents, related companies, affiliates,
successors and assigns from all claims demands, damages, actions, rights of
action of whatever kind or nature under any applicable state law, including
reasonable attorneys’ fees, resulting from any breach by FORT DODGE of the
warranties set forth in this Article 6, and specifically, any claim that
the Products, as sold by FORT DODGE, were defective.  To be covered by this defense and indemnity,
DISTRIBUTOR must: promptly notify FORT DODGE of any such claim; allow FORT
DODGE to fully control the defense and/or resolution of the claim; and
cooperate fully with FORT DODGE in the matter. 
This defense and indemnity shall not apply to claims alleging:
DISTRIBUTOR alteration, negligent handling or improper storage of the Products;
sale of outdated Products; sale or recommendation of the Products for uses or
in a manner not set forth in the labeling supplied by FORT DODGE; or sale of
the Products after receipt of notice from FORT DODGE that such sales should be
halted.

 

6.3                                 FORT
DODGE shall maintain in force and effect during the term of this Agreement
liability insurance of the type evidenced by the certificate of insurance
attached hereto as Schedule C, and shall carry policy limits in amounts at
least as great as set forth on said certificate.  Should FORT DODGE fail to keep this liability
insurance in full force and effect, DISTRIBUTOR may elect to terminate this
Agreement immediately upon written notice to FORT DODGE.  FORT DODGE shall provide DISTRIBUTOR with a
certificate of insurance evidencing its compliance with this provision on an annual
basis.

 

7.                                      TRADEMARKS

 

7.1                                 DISTRIBUTOR
may use FORT DODGE’s trademarks and copyrights only to market Product supplied
to DISTRIBUTOR by FORT DODGE hereunder. 
By such use, DISTRIBUTOR does not acquire any right to such trademarks
or copyrights and DISTRIBUTOR acknowledges FORT DODGE’s rights in and ownership
of FORT DODGE’s trademarks, trade names, service marks, logos, trade dress and
copyrights and agrees not to (i) infringe upon or contest the validity of
the trademarks or copyrights; (ii) use, remove or alter any trademark or
copyright on Products or in advertising or promotional material without FORT
DODGE’s prior written approval or (iii) register, use or apply any
trademarks, trade dress, labels, designs, copyright or other indicia of
ownership of Product identity which are imitative of or resemble those used
with FORT DODGE Products or their sale or distribution.

 

8.                                      CONFIDENTIALITY

 

8.1                                 FORT
DODGE and DISTRIBUTOR acknowledge that in the performance of their duties
hereunder each may obtain access to “Confidential Information” (as defined
below) of the other.  FORT DODGE and
DISTRIBUTOR agree that during the term of this Agreement and for a period of
five (5) years after termination or expiration of this Agreement, unless
specifically permitted in writing by the other party, each will (a) retain
in confidence and not disclose to any third party, and (b) use only for
the purpose of carrying out their duties hereunder, any such Confidential
Information.  As used herein, the term “Confidential
Information shall mean all information or data, whether of a business or
scientific nature and whether in written, oral or tangible form, disclosed by
either party to the

 

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other pursuant
to this Agreement relating to FORT DODGE’S and DISTRIBUTOR’S products, business
or potential business, research and development activities or other information
of a business or scientific nature. 
Confidential Information shall not include information which: (a) was
available to the receiving party on a non-confidential basis prior to its
disclosure by the disclosing party or its representative; (b) becomes
available to the receiving party on a non-confidential basis from a person
other than the disclosing party or its representatives who are not otherwise
bound by a confidentiality agreement with the disclosing party or any of its
representatives; (c) was independently developed or discovered by the
receiving party; (d) has come within the public domain through no fault
of, or action by, the receiving party or its representatives; or (e) which
is required by law to be disclosed.  It
is understood that money damages would not be sufficient for any breach if this
provision by either party or its representatives, and the parties agree that
each party shall be entitled to equitable relief, including, without
limitation, injunction and specific performance in the event of any breach of
this provision.

 

8.2                                 All
Information disclosed hereunder shall remain the property of the disclosing
party and shall be maintained in confidence and not disclosed by the receiving
party to any person except to officers, employees and consultants to whom it is
necessary to disclose the Information for the purpose specified above.  Each party shall take all steps reasonably
necessary to ensure that the received Information shall be maintained in
confidence and not disclosed, .information, or data, whether of a business or
scientific nature and whether written, oral or tangible form, relating to FORT
DODGE’s and DISTRIBUTOR’S business or potential business, or its research and
development activities,

 

9.                                      INVENTORY

 

9.1                                 Except
as otherwise limited by FORT DODGE’s right to limit monthly purchases as set
forth in Paragraph 2.1 of this Agreement, DISTRIBUTOR agrees to maintain at all
times an inventory of each Product sufficient to satisfy the reasonably
anticipated needs of its customers.

 

9.2                                 DISTRIBUTOR
agrees to store its inventory of the Products in accordance with label
instructions.

 

9.3                                 DISTRIBUTOR
agrees to store and ship Products in accordance with FORT DODGE and applicable
governmental regulatory requirements to maintain product integrity (i.e.
biologicals on ice).  DISTRIBUTOR further
agrees that in shipping Products to its customers, it will ship Product and
manage FORT DODGE inventory on a “First In, First Out” basis.

 

10.                               RETURNS

 

10.1                           The
DISTRIBUTOR shall inspect the Product(s) within ten (1 0) working days after
delivery to the destination specified in the bill of lading and shall
immediately notify FORT DODGE and the carrier of any shortages, defects or
failure of the Product(s) to conform to the order.  Failure of DISTRIBUTOR to inspect and notify
FORT DODGE within ten (1 0) working days shall constitute an irrevocable
acceptance of the goods.  If the

 

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DISTRIBUTOR so
notifies FORT DODGE within ten (10) working days, the DISTRIBUTOR may, and
shall upon FORT DODGE’s request, return to FORT DODGE at the latter’s expense
all Product(s) which are defective or do not conform to the order.  The DISTRIBUTOR shall not resell any
Product(s) it finds or claims to be defective. 
DISTRIBUTOR shall send FORT DODGE an itemized list of the Product(s)
returned, dated as of the date of delivery by DISTRIBUTOR to carrier for
reshipment to FORT DODGE.  Returns of
outdated Product(s) to FORT DODGE shall be subject to the terms of FORT DODGE’s
Prices, Policies and Terms in effect on the date of return.

 

11.                               INDEPENDENT
CONTRACTOR

 

11.1                           DISTRIBUTOR
is, and at all times shall be, an independent contractor.  Nothing contained in this Agreement or
otherwise shall be construed as constituting the DISTRIBUTOR as the partner,
agent or employee of FORT DODGE or as authorizing the DISTRIBUTOR to create or
assume any obligation or liability in the name of, or on behalf of, FORT DODGE
or to subject FORT DODGE to any obligation or liability to any third person or
entity.

 

12.                               TERM
AND TERMINATION

 

12.1                           This
Agreement shall be effective as of January 1, 2004 and shall expire on December 31,
2004 (“Initial Term”).  The Agreement shall
be automatically be renewed for additional periods of one (1) year each (a
“Renewal Term”) from the end of the Initial Term or the first Renewal Term
respectively, unless FORT DODGE or DISTRIBUTOR informs the other party in
writing at least thirty (30) prior to the end of the Initial Term or first
Renewal Term that it does not elect to renew the Agreement.

 

12.2                           Either
party may terminate this Agreement prior to the expiration of the Initial Term
or any Renewal Term, with or without cause, upon ninety (90) days’ prior
written notice to the other party.

 

12.3                           In
addition to its other rights, FORT DODGE shall have the right, exercisable at
any time by written notice to the DISTRIBUTOR, and without incurring any
liability to the DISTRIBUTOR, to terminate this Agreement as of the date of
such notice upon the breach of this Agreement by DISTRIBUTOR or the happening
of any of the following events:

 

12.3.1                  the
failure of the DISTRIBUTOR to meet the requirements set forth in FORT DODGE’S
Prices, Policies and Terms, as issued by FORT DODGE from time to time;

 

12.3.2                  in
the event of a material breach by the DISTRIBUTOR which is not cured within ten
(10) business days.  A material
breach shall include, but not be limited to, failure to meet the provisions
relating to prompt payment and credit-worthiness; making sales of Products to
other distributors or outside the Territory, except as authorized by FORT
DODGE; or failing to obey any federal, state or local law governing the
distribution of such Products;

 

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12.3.3                  insolvency
of the DISTRIBUTOR; an assignment for the benefit of creditors by the
DISTRIBUTOR; appointment of a trustee or receiver for any part of the
DISTRIBUTOR’S property or a filing by or against the DISTRIBUTOR of any
petition in bankruptcy or under any of the provisions of the Bankruptcy Act;

 

12.3.4                  attachment
of or levy against any of the DISTRIBUTOR’S property by any judicial officer
which is not discharged within thirty (30) days thereafter.

 

12.4                           Termination
of this Agreement for any reason or termination of any DISTRIBUTION Agreement
that FORT DODGE may have with a subsidiary, division, or branch of DISTRIBUTOR,
shall be without prejudice to FORT DODGE’S rights to any amounts then owing by
the DISTRIBUTOR under this Agreement. 
Upon termination or non-renewal of this Agreement for any reason,
DISTRIBUTOR agrees, at FORT DODGE’S option, to return to FORT DODGE, at
DISTRIBUTOR’S expense, all Product that has not been paid for by DISTRIBUTOR at
the time of such non-renewal or termination.

 

13.                               FORCE
MAJEURE

 

13.1                           Neither
party shall be liable to the other by reason of any failure or delay in
performance of any provision of this Agreement, nor shall such failure or delay
give the other party any right to terminate this Agreement (except for changes
in control of DISTRIBUTOR) if such failure or delay is due to any event (other
than financial) beyond the reasonable power of the party failing or delaying to
perform.  Without limiting the generality
of the foregoing sentence, governmental action, inability to obtain supplies,
material, labor or transportation, and strikes, boycotts, lockouts and labor
disputes shall all be conclusively deemed beyond the reasonable power of the
party failing or delayed thereby, even though that party might be able to
obviate such failure or delay by agreeing to terms proposed by government,
suppliers, carriers, employees or their bargaining representatives, labor
disputants, or other third parties.

 

14.                               ASSIGNMENT
AND CHANGE OF CONTROL

 

14.1                           Neither
this Agreement nor any rights hereunder are assignable, transferable, or
delegable by the DISTRIBUTOR without the prior written consent of FORT DODGE.

 

14.2                           FORT
DODGE shall have the right to immediately terminate this Agreement if there is
a change in control of the DISTRIBUTOR by merger, acquisition, consolidation or
other business reorganization.

 

15.                               GOVERNING
LAW

 

15.1                           The
validity and interpretation of this Agreement shall be governed by the laws of
the State of Kansas, exclusive of choice of law rules.

 

16.                               NOTICES

 

16.1                           Any
notice required or permitted by the terms of this Agreement shall be given by
telegram or by registered mail, prepaid and properly addressed, or delivered by

 

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hand to FORT
DODGE or DISTRIBUTOR at its address set forth in this Agreement or at such
other address as either party hereto may designate by notice given as provided
herein.  If mailed, any such notice shall
be deemed to have been given when mailed, and if delivered by hand, when
received.

 

17.                               ENTIRE
AGREEMENT

 

17.1                           This
Agreement sets forth the entire understanding of the parties with respect to
the subject matter hereof, and supersedes all prior writings and discussions
relating to such subject matter.

 

18.                               SEVERABILITY

 

18.1                           If
any provision of this Agreement shall in any way be or become violative of or
prohibited by or under the valid applicable laws, judgments, decrees or public
policy of any state or jurisdiction, said provision or part thereof shall be,
as to said jurisdiction, ineffective and void to the extent of such violation
or prohibition without invalidating any of the remaining provisions of this
Agreement.

 

19.                               MODIFICATION;
WAIVER

 

19.1                           This
Agreement may be modified, amended, or waived only by a written instrument
signed by both parties or, in the case of a waiver, by the party waiving
compliance.  The failure of either party
to insist upon or enforce strict performance by the other party of any provisions
of this Agreement or to exercise any right under this Agreement shall not be
construed as a waiver or relinquishment of its right to assert or rely upon
such provision or right in that or any other instance.

 

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

 

	
  FORT DODGE
  ANIMAL HEALTH

  	
   

  	
  MWI
  VETERINARY SUPPLY CO.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Brent A. Standridge

  	
   

  	
  By:

  	
  /s/ James F. Cleary, Jr.

  
	
   

  	
  Brent A. Standridge

  	
   

  	
   

  	
  James F. Cleary, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Sr. Vice President Sales &
  Marketing

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  April 27, 2004

  	
   

  	
  Date

  	
  April 27, 2004

  

 

9

 

Addendum to Ethical Distribution Agreement

 

This addendum
is hereby made a part of and included in the January 1, 2004 Ethical
Distribution Agreement, between Fort Dodge Animal Health, a division of Wyeth
(FORT DODGE) and MWI Veterinary Supply Co. (DISTRIBUTOR).  In the event of conflict, the terms and
conditions herein shall supersede any and all terms and conditions contained in
the Service Agreement.

 

The parties
agree and understand that:

 

1.                                       Paragraph
4.1.2 is deleted in its entirety and replaced with the following:

 

“4.1.2                  Actively
promote and solicit sales of the Products. 
As a part of its  efforts,
DISTRIBUTOR shall include the Products in its regular sales promotions
throughout the calendar year. 
DISTRIBUTOR agrees to feature FORT DODGE products in customer sales
flyers, special sheets and electronic communications, provided FORT DODGE
supplies the information by the 10th 
of the prior month.  DISTRIBUTOR
shall submit to FORT DODGE copies of its sales literature to demonstrate that
this promotional activity has been accomplished.”

 

Fort Dodge
Animal Health, a division of Wyeth

 

	
   

  	
  Authorized
  Signature:

  	
  /s/ Brent A.
  Standridge

  	
   

  	
  Date:

  	
  August 30,
  2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name &
  Title:

  	
  Sr. Vice
  President Sales & Marketing

  North America

  

 

 

MWI Veterinary Supply Co.

 

	
   

  	
  Authorized
  Signature:

  	
  /s/ James F.
  Cleary, Jr.

  	
   

  	
  Date:

  	
  August 26,
  2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name &
  Title:

  	
  James F.
  Cleary, Jr., President

  

 

10

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