Document:

REGISTRATION RIGHTS AGREEMENT

This Registration Rights Agreement (the "Agreement") is made and entered into as of this 12th day of December, 2014 by and among PhotoMedex, Inc., a Nevada corporation (the "Company"), and the "Investors" named in that certain Securities Purchase Agreement by and among the Company and the Investors (the "Purchase Agreement").  Capitalized terms used herein have the respective meanings ascribed thereto in the Purchase Agreement unless otherwise defined herein.

The parties hereby agree as follows:

1.    Certain Definitions.

As used in this Agreement, the following terms shall have the following meanings:

"Exchange Act" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 "Investors" means the Investors identified in the Purchase Agreement and any Affiliate or permitted transferee of any Investor who is a subsequent holder of any Warrants or Registrable Securities.

"Prospectus" means (i) the prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and by all other amendments and supplements to the prospectus, including post-effective amendments and all material incorporated by reference in such prospectus, and (ii) any "free writing prospectus" as defined in Rule 405 under the Securities Act.

"Register," "registered" and "registration" refer to a registration made by preparing and filing a Registration Statement or similar document in compliance with the Securities Act (as defined below), and the declaration or ordering of effectiveness of such Registration Statement or document.

  "Registrable Securities" means (i) the Shares, (ii) the Warrant Shares and (iii) any other securities issued or issuable with respect to or in exchange for Registrable Securities, whether by merger, charter amendment or otherwise; provided, that, a security shall cease to be a Registrable Security upon (A) sale pursuant to a Registration Statement or Rule 144 under the Securities Act, or (B) such security becoming eligible for sale without restriction by the Investors pursuant to Rule 144.

"Registration Statement" means any registration statement of the Company filed under the Securities Act that covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement, amendments and supplements to such Registration Statement, including post-effective amendments, all exhibits and all material incorporated by reference in such Registration Statement.

"Required Investors" means the Investors holding a majority of the Registrable Securities.

"SEC" means the U.S. Securities and Exchange Commission.

"Securities Act" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

2.    Registration.

       (a)          Registration Statement. Promptly following the Closing Date but no later than thirty (30) days after the Closing Date (the "Filing Deadline"), the Company shall prepare and file with the SEC one Registration Statement on Form S-3 (or, if Form S-3 is not then available to the Company, on such form of registration statement as is then available to effect a registration for resale of the Registrable Securities), covering the resale of the Registrable Securities.  Subject to any SEC comments, such Registration Statement shall include the plan of distribution attached hereto as Exhibit A; provided, however, that no Investor shall be named as an "underwriter" in the Registration Statement without the Investor's prior written consent.  Such Registration Statement also shall cover, to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to the Registrable Securities.  Such Registration Statement shall not include any shares of Common Stock or other securities for the account of any other holder without the prior written consent of the Required Investors.  The Registration Statement (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided in accordance with Section 3(c) to the Investors and their counsel prior to its filing or other submission.  If a Registration Statement covering the Registrable Securities is not filed with the SEC on or prior to the Filing Deadline, the Company will make pro rata payments to each Investor, as liquidated damages and not as a penalty, in an amount equal to 0.5% of the aggregate amount invested by such Investor for each 30-day period or pro rata for any portion thereof following the Filing Deadline for which no Registration Statement is filed with respect to the Registrable Securities; provided that the aggregate amount of such payments shall not exceed 5.0%.  Such payments shall constitute the Investors' exclusive monetary remedy for such events, but shall not affect the right of the Investors to seek injunctive relief.  Such payments shall be made to each Investor in cash no later than three (3) Business Days after the end of each 30-day period.

       (b)         Expenses.  The Company will pay all expenses associated with each registration, including filing and printing fees, the Company's counsel and accounting fees and expenses, costs associated with clearing the Registrable Securities for sale under applicable state securities laws, listing fees, fees and expenses of one counsel to the Investors and the Investors' reasonable expenses in connection with the registration, but excluding discounts, commissions, fees of underwriters, selling brokers, dealer managers or similar securities industry professionals with respect to the Registrable Securities being sold.

       (c)          Effectiveness.

       (i)            The Company shall use commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable.  The Company shall notify the Investors by facsimile or e-mail as promptly as practicable, and in any event, within twenty-four (24) hours, after the Registration Statement is declared effective and shall simultaneously provide the Investors with copies of any related Prospectus to be used in connection with the sale or other disposition of the securities covered thereby.  If (a) a Registration Statement covering 

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the Registrable Securities is not declared effective by the SEC prior to the earlier of (i) five (5) Business Days after the SEC shall have informed the Company that no review of the Registration Statement will be made or that the SEC has no further comments on the Registration Statement or (ii) the 90th day after the Closing Date or (B) after a Registration Statement has been declared effective by the SEC, sales cannot be made pursuant to such Registration Statement for any reason (including without limitation by reason of a stop order, or the Company's failure to update the Registration Statement), but excluding any Allowed Delay (as defined below) or the inability of any Investor to sell the Registrable Securities covered thereby due to market conditions, then the Company will make pro rata payments to each Investor, as liquidated damages and not as a penalty, in an amount equal to 0.5% of the aggregate amount invested by such Investor for each 30-day period or pro rata for any portion thereof following the date by which such Registration Statement should have been effective (the "Blackout Period"); provided that the aggregate amount of such payments shall not exceed 5.0%.  Such payments shall constitute the Investors' exclusive monetary remedy for such events, but shall not affect the right of the Investors to seek injunctive relief.  The amounts payable as liquidated damages pursuant to this paragraph shall be paid monthly within three (3) Business Days of the last day of each month following the commencement of the Blackout Period until the termination of the Blackout Period.  Such payments shall be made to each Investor in cash.

       (ii)            For not more than thirty (30) consecutive days or for a total of not more than sixty (60) days in any twelve (12) month period, the Company may suspend the use of any Prospectus included in the Registration Statement contemplated by this Section in the event that the Company determines in good faith that such suspension is necessary to (A) delay the disclosure of material non-public information concerning the Company, the disclosure of which at the time is not, in the good faith opinion of the Company, in the best interests of the Company or (B) amend or supplement the affected Registration Statement or the related Prospectus so that such Registration Statement or Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the case of the Prospectus in light of the circumstances under which they were made, not misleading (an "Allowed Delay"); provided, that the Company shall promptly (a) notify each Investor in writing of the commencement of an Allowed Delay, but shall not (without the prior written consent of an Investor) disclose to such Investor any material non-public information giving rise to an Allowed Delay, (b) advise the Investors in writing to cease all sales under the Registration Statement until the end of the Allowed Delay and (c) use commercially reasonable efforts to terminate an Allowed Delay as promptly as practicable.

       (d)          Rule 415; Cutback  If at any time the SEC takes the position that the offering of some or all of the Registrable Securities in a Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act or requires any Investor to be named as an "underwriter", the Company shall use its best efforts to persuade the SEC that the offering contemplated by the Registration Statement is a valid secondary offering and not an offering "by or on behalf of the issuer" as defined in Rule 415 and that none of the Investors is an "underwriter".  The Investors shall have the right to participate or have their counsel participate in any meetings or discussions with the SEC regarding the SEC's position and to comment or have their counsel comment on any written submission made to the SEC with respect thereto.  No such written submission shall be made to the SEC to which the Investors' counsel reasonably objects.  In the event that, despite the 

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Company's commercially reasonable efforts and compliance with the terms of this Section 2(d), the SEC refuses to alter its position, the Company shall (i) remove from the Registration Statement such portion of the Registrable Securities (the "Cut Back Shares") and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Securities as the SEC may require to assure the Company's compliance with the requirements of Rule 415 (collectively, the "SEC Restrictions"); provided, however, that the Company shall not agree to name any Investor as an "underwriter" in such Registration Statement without the prior written consent of such Investor.  Any cut-back imposed on the Investors pursuant to this Section 2(d) shall be allocated among the Investors on a pro rata basis and shall be applied first to any Warrant Shares, unless the SEC Restrictions otherwise require or provide or the Investors otherwise agree.  No liquidated damages shall accrue as to any Cut Back Shares until such date as the Company is able to effect the registration of such Cut Back Shares in accordance with any SEC Restrictions (such date, the "Restriction Termination Date" of such Cut Back Shares).  From and after the Restriction Termination Date applicable to any Cut Back Shares, all of the provisions of this Section 2 (including the liquidated damages provisions) shall again be applicable to such Cut Back Shares; provided, however, that (i) the Filing Deadline for the Registration Statement including such Cut Back Shares shall be ten (10) Business Days after such Restriction Termination Date, and (ii) the date by which the Company is required to obtain effectiveness with respect to such Cut Back Shares under Section 2(c) shall be the 90th day immediately after the Restriction Termination Date.

3.    Company Obligations.  The Company will use commercially reasonable efforts to effect the registration of the Registrable Securities in accordance with the terms hereof, and pursuant thereto the Company will, as expeditiously as possible:

     (a)          use commercially reasonable efforts to cause such Registration Statement to become effective and to remain continuously effective for a period that will terminate upon the earlier of (i) the date on which all Registrable Securities covered by such Registration Statement as amended from time to time, have been sold, and (ii) the date on which all Registrable Securities covered by such Registration Statement may be sold without restriction pursuant to Rule 144 (the "Effectiveness Period") and advise the Investors in writing when the Effectiveness Period has expired;

     (b)          prepare and file with the SEC such amendments and post-effective amendments to the Registration Statement and the Prospectus as may be necessary to keep the Registration Statement effective for the Effectiveness Period and to comply with the provisions of the Securities Act and the Exchange Act with respect to the distribution of all of the Registrable Securities covered thereby;

     (c)          provide copies to and permit counsel designated by the Investors to review each Registration Statement and all amendments and supplements thereto no fewer than seven (7) days prior to their filing with the SEC and not file any document to which such counsel reasonably objects;

     (d)          furnish to the Investors and their legal counsel (i) promptly after the same is prepared and publicly distributed, filed with the SEC, or received by the Company (but not later than two (2) Business Days after the filing date, receipt date or sending date, as the 

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case may be) one (1) copy of any Registration Statement and any amendment thereto, each preliminary prospectus and Prospectus and each amendment or supplement thereto, and each letter written by or on behalf of the Company to the SEC or the staff of the SEC, and each item of correspondence from the SEC or the staff of the SEC, in each case relating to such Registration Statement (other than any portion of any thereof which contains information for which the Company has sought confidential treatment), and (ii) such number of copies of a Prospectus, including a preliminary prospectus, and all amendments and supplements thereto and such other documents as each Investor may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Investor that are covered by the related Registration Statement;

     (e)          use commercially reasonable efforts to (i) prevent the issuance of any stop order or other suspension of effectiveness and, (ii) if such order is issued, obtain the withdrawal of any such order at the earliest possible moment;

     (f)          prior to any public offering of Registrable Securities, use commercially reasonable efforts to register or qualify or cooperate with the Investors and their counsel in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions requested by the Investors and do any and all other commercially reasonable acts or things necessary or advisable to enable the distribution in such jurisdictions of the Registrable Securities covered by the Registration Statement; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (i) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(f), (ii) subject to general taxation in any jurisdiction where it would not otherwise be do subject but for this Section 3(f), or iii) file a general consent to service of process in any such jurisdiction;

     (g)          use commercially reasonable efforts to cause all Registrable Securities covered by a Registration Statement to be listed on each securities exchange, interdealer quotation system or other market on which similar securities issued by the Company are then listed;

     (h)          immediately notify the Investors, at any time prior to the end of the Effectiveness Period, upon discovery that, or upon the happening of any event as a result of which, the Prospectus includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly prepare, file with the SEC and furnish to such holder a supplement to or an amendment of such Prospectus as may be necessary so that such Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing;

     (i)          otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the SEC under the Securities Act and the Exchange Act, including, without limitation, Rule 172 under the Securities Act, file any final Prospectus, including any supplement or amendment thereof, with the SEC pursuant to Rule 424 under the Securities Act, promptly inform the Investors in writing if, at any time during the Effectiveness 

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Period, the Company does not satisfy the conditions specified in Rule 172 and, as a result thereof, the Investors are required to deliver a Prospectus in connection with any disposition of Registrable Securities and take such other actions as may be reasonably necessary to facilitate the registration of the Registrable Securities hereunder; and make available to its security holders, as soon as reasonably practicable, but not later than the Availability Date (as defined below), an earnings statement covering a period of at least twelve (12) months, beginning after the effective date of each Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act, including Rule 158 promulgated thereunder (for the purpose of this subsection 3(i), "Availability Date" means the 45th day following the end of the fourth fiscal quarter that includes the effective date of such Registration Statement, except that, if such fourth fiscal quarter is the last quarter of the Company's fiscal year, "Availability Date" means the 90th day after the end of such fourth fiscal quarter); and

     (j)            With a view to making available to the Investors the benefits of Rule 144 (or its successor rule) and any other rule or regulation of the SEC that may at any time permit the Investors to sell shares of Common Stock to the public without registration, the Company covenants and agrees to:  (i) make and keep public information available, as those terms are understood and defined in Rule 144, until the earlier of (A) six months after such date as all of the Registrable Securities may be sold without restriction by the holders thereof pursuant to Rule 144 or any other rule of similar effect or (B) such date as all of the Registrable Securities shall have been resold; (ii) file with the SEC in a timely manner all reports and other documents required of the Company under the Exchange Act; and (iii) furnish to each Investor upon request, as long as such Investor owns any Registrable Securities, (A) a written statement by the Company that it has complied with the reporting requirements of the Exchange Act, (B) a copy of the Company's most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as may be reasonably requested in order to avail such Investor of any rule or regulation of the SEC that permits the selling of any such Registrable Securities without registration

4.    Due Diligence Review; Information.  The Company shall make available, during normal business hours, for inspection and review by the Investors, advisors to and representatives of the Investors (who may or may not be affiliated with the Investors and who are reasonably acceptable to the Company), all financial and other records, all SEC Filings (as defined in the Purchase Agreement) and other filings with the SEC, and all other corporate documents and properties of the Company as may be reasonably necessary for the purpose of such review, and cause the Company's officers, directors and employees, within a reasonable time period, to supply all such information reasonably requested by the Investors or any such representative, advisor or underwriter in connection with such Registration Statement (including, without limitation, in response to all questions and other inquiries reasonably made or submitted by any of them), prior to and from time to time after the filing and effectiveness of the Registration Statement for the sole purpose of enabling the Investors and such representatives, advisors and underwriters and their respective accountants and attorneys to conduct initial and ongoing due diligence with respect to the Company and the accuracy of such Registration Statement.

The Company shall not disclose material nonpublic information to the Investors, or to advisors to or representatives of the Investors, unless prior to disclosure of such information 

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the Company identifies such information as being material nonpublic information and provides the Investors, such advisors and representatives with the opportunity to accept or refuse to accept such material nonpublic information for review and any Investor wishing to obtain such information enters into an appropriate confidentiality agreement with the Company with respect thereto.

5.    Obligations of the Investors.

       (a)          Each Investor shall furnish in writing to the Company such information regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it, as shall be reasonably required to effect the registration of such Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request.  At least five (5) Business Days prior to the first anticipated filing date of any Registration Statement, the Company shall notify each Investor of the information the Company requires from such Investor if such Investor elects to have any of the Registrable Securities included in the Registration Statement.  An Investor shall provide such information to the Company at least two (2) Business Days prior to the first anticipated filing date of such Registration Statement if such Investor elects to have any of the Registrable Securities included in the Registration Statement.

       (b)          Each Investor, by its acceptance of the Registrable Securities agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of a Registration Statement hereunder, unless such Investor has notified the Company in writing of its election to exclude all of its Registrable Securities from such Registration Statement.

       (c)          Each Investor agrees that, upon receipt of any notice from the Company of either (i) the commencement of an Allowed Delay pursuant to Section 2(c)(ii) or (ii) the happening of an event pursuant to Section 3(h) hereof, such Investor will immediately discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities, until the Investor is advised by the Company that such dispositions may again be made.

6.    Indemnification.

       (a)          Indemnification by the Company.  The Company will indemnify and hold harmless each Investor and its officers, directors, members, employees and agents, successors and assigns, and each other person, if any, who controls such Investor within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which they may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement or omission or alleged omission of any material fact contained in any Registration Statement, any preliminary Prospectus or final Prospectus, or any amendment or supplement thereof; (ii) any blue sky application or other document executed by the Company specifically for that purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to qualify any or all of the Registrable Securities under the securities laws thereof (any such application, document or information herein called a "Blue Sky Application"); (iii) the omission or alleged omission to state in a Blue 

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Sky Application a material fact required to be stated therein or necessary to make the statements therein not misleading; (iv) any violation by the Company or its agents of any rule or regulation promulgated under the Securities Act applicable to the Company or its agents and relating to action or inaction required of the Company in connection with such registration; or (v) any failure to register or qualify the Registrable Securities included in any such Registration Statement in any state where the Company or its agents has affirmatively undertaken or agreed in writing that the Company will undertake such registration or qualification on an Investor's behalf and will reimburse such Investor, and each such officer, director or member and each such controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such Investor or any such controlling person in writing specifically for use in such Registration Statement or Prospectus.

       (b)          Indemnification by the Investors.  Each Investor agrees, severally but not jointly, to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors, officers, employees, stockholders and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expense (including reasonable attorney fees) resulting from any untrue statement of a material fact or any omission of a material fact required to be stated in the Registration Statement or Prospectus or preliminary Prospectus or amendment or supplement thereto or necessary to make the statements therein not misleading, to the extent, but only to the extent that such untrue statement or omission is contained in any information furnished in writing by such Investor to the Company specifically for inclusion in such Registration Statement or Prospectus or amendment or supplement thereto.  In no event shall the liability of an Investor be greater in amount than the dollar amount of the proceeds (net of all expenses paid by such Investor in connection with any claim relating to this Section 6 and the amount of any damages such Investor has otherwise been required to pay by reason of such untrue statement or omission) received by such Investor upon the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification obligation.

       (c)          Conduct of Indemnification Proceedings.  Any person entitled to indemnification hereunder shall (i) give prompt notice to the indemnifying party of any claim with respect to which it seeks indemnification and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided that any person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such person unless (a) the indemnifying party has agreed to pay such fees or expenses, or (b) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person or (c) in the reasonable judgment of any such person, based upon written advice of its counsel, a conflict of interest exists between such person and the indemnifying party with respect to such claims (in which case, if the person notifies the indemnifying party in writing that such person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such person); and provided, 

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further, that the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations hereunder, except to the extent that such failure to give notice shall materially adversely affect the indemnifying party in the defense of any such claim or litigation.  It is understood that the indemnifying party shall not, in connection with any proceeding in the same jurisdiction, be liable for fees or expenses of more than one separate firm of attorneys at any time for all such indemnified parties.  No indemnifying party will, except with the consent of the indemnified party, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation.

       (d)          Contribution.  If for any reason the indemnification provided for in the preceding paragraphs (a) and (b) is unavailable to an indemnified party or insufficient to hold it harmless, other than as expressly specified therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant equitable considerations.  No person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act shall be entitled to contribution from any person not guilty of such fraudulent misrepresentation.  In no event shall the contribution obligation of a holder of Registrable Securities be greater in amount than the dollar amount of the proceeds (net of all expenses paid by such holder in connection with any claim relating to this Section 6 and the amount of any damages such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission) received by it upon the sale of the Registrable Securities giving rise to such contribution obligation.

7.    Miscellaneous.

       (a)          Amendments and Waivers.  This Agreement may be amended only by a writing signed by the Company and the Required Investors.  The Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company shall have obtained the written consent to such amendment, action or omission to act, of the Required Investors.

       (b)          Notices.  All notices and other communications provided for or permitted hereunder shall be made as set forth in Section 7.3 of the Purchase Agreement.

       (c)          Assignments and Transfers by Investors.  The provisions of this Agreement shall be binding upon and inure to the benefit of the Investors and their respective successors and assigns.  An Investor may transfer or assign, in whole or from time to time in part, to one or more persons its rights hereunder in connection with the transfer of Registrable Securities by such Investor to such person, provided that such Investor complies with all laws applicable thereto and provides written notice of assignment to the Company promptly after such assignment is effected.

       (d)          Assignments and Transfers by the Company.  This Agreement may not be assigned by the Company (whether by operation of law or otherwise) without the prior 

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written consent of the Required Investors, provided, however, that in the event that the Company is a party to a merger, consolidation, share exchange or similar business combination transaction in which the Common Stock is converted into the equity securities of another Person, from and after the effective time of such transaction, such Person shall, by virtue of such transaction, be deemed to have assumed the obligations of the Company hereunder, the term "Company" shall be deemed to refer to such Person and the term "Registrable Securities" shall be deemed to include the securities received by the Investors in connection with such transaction unless such securities are otherwise freely tradable by the Investors after giving effect to such transaction.

       (e)          Benefits of the Agreement.  The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and assigns of the parties.  Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

       (f)          Counterparts; Faxes.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement may also be executed via facsimile, which shall be deemed an original.

       (g)          Titles and Subtitles.  The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

       (h)          Severability.  Any provision of this Agreement that 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 but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  To the extent permitted by applicable law, the parties hereby waive any provision of law which renders any provisions hereof prohibited or unenforceable in any respect.

       (i)          Further Assurances.  The parties shall execute and deliver all such further instruments and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein contained.

       (j)          Entire Agreement.  This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.  This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

       (k)          Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.  This Agreement shall be governed by, and construed in accordance with, the internal laws of the 

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State of New York without regard to the choice of law principles thereof.  Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts of the State of New York located in New York County and the United States District Court for the Southern District of New York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated hereby.  Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this Agreement.  Each of the parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court.  Each party hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

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IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to execute this Agreement as of the date first above written.

The Company:                                                                                    PHOTOMEDEX, INC.

By:_________________________

Name: Dennis M. McGrath

Title:  President & Chief Financial Officer

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The Investors:

[INVESTOR]

By:_______________________________

Name:

Title:

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Exhibit A

Plan of Distribution

The selling stockholders, which as used herein includes donees, pledgees, transferees or other successors-in-interest selling shares of common stock or interests in shares of common stock received after the date of this prospectus from a selling stockholder as a gift, pledge, partnership distribution or other transfer, may, from time to time, sell, transfer or otherwise dispose of any or all of their shares of common stock or interests in shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions.  These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices.

The selling stockholders may use any one or more of the following methods when disposing of shares or interests therein:

- ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

- block trades in which the broker-dealer will attempt to sell the shares as agent, but may position and resell a portion of the block as principal to facilitate the transaction;

- purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

- an exchange distribution in accordance with the rules of the applicable exchange;

- privately negotiated transactions;

- short sales effected after the date the registration statement of which this Prospectus is a part is declared effective by the SEC;

- through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

- broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per share;

- a combination of any such methods of sale; and

- any other method permitted by applicable law.

The selling stockholders may, from time to time, pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock, from time to time, under this prospectus, or under an amendment to this 

- 14 - 

prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus.  The selling stockholders also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.

In connection with the sale of our common stock or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions they assume.  The selling stockholders may also sell shares of our common stock short and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities.  The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The aggregate proceeds to the selling stockholders from the sale of the common stock offered by them will be the purchase price of the common stock less discounts or commissions, if any.  Each of the selling stockholders reserves the right to accept and, together with their agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents.  We will not receive any of the proceeds from this offering. Upon any exercise of the warrants by payment of cash, however, we will receive the exercise price of the warrants.

The selling stockholders also may resell all or a portion of the shares in open market transactions in reliance upon Rule 144 under the Securities Act of 1933, provided that they meet the criteria and conform to the requirements of that rule.

The selling stockholders and any underwriters, broker-dealers or agents that participate in the sale of the common stock or interests therein may be "underwriters" within the meaning of Section 2(11) of the Securities Act.  Any discounts, commissions, concessions or profit they earn on any resale of the shares may be underwriting discounts and commissions under the Securities Act.  Selling stockholders who are "underwriters" within the meaning of Section 2(11) of the Securities Act will be subject to the prospectus delivery requirements of the Securities Act.

To the extent required, the shares of our common stock to be sold, the names of the selling stockholders, the respective purchase prices and public offering prices, the names of any agents, dealer or underwriter, any applicable commissions or discounts with respect to a particular offer will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective amendment to the registration statement that includes this prospectus.

In order to comply with the securities laws of some states, if applicable, the common stock may be sold in these jurisdictions only through registered or licensed brokers or dealers.  In addition, in some states the common stock may not be sold unless it has been registered or 

- 15 - 

qualified for sale or an exemption from registration or qualification requirements is available and is complied with.

We have advised the selling stockholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the market and to the activities of the selling stockholders and their affiliates.  In addition, to the extent applicable we will make copies of this prospectus (as it may be supplemented or amended from time to time) available to the selling stockholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act.  The selling stockholders may indemnify any broker-dealer that participates in transactions involving the sale of the shares against certain liabilities, including liabilities arising under the Securities Act.

We have agreed to indemnify the selling stockholders against liabilities, including liabilities under the Securities Act and state securities laws, relating to the registration of the shares offered by this prospectus.

We have agreed with the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective until the earlier of (1) such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration statement or (2) the date on which all of the shares may be sold without restriction pursuant to Rule 144 of the Securities Act.

- 16 -Exhibit 10.1

 

December 10, 2015

 

William C. P’Pool

90 Alton Road
 Unit 203
 Miami, FL 33139

 

Dear Bill:

 

This will confirm our agreement that you will resign your employment with Mead Johnson Nutrition Company and its affiliates effective as of April 30, 2015 (the “Termination Date”); provided, however, that prior to the Termination Date and without affecting your Termination Date, the company may request that you resign some or all of your officer and/or director positions, including your position as Senior Vice President, General Counsel and Secretary.  If the company requests your resignation of your current position prior to the Termination Date, you will thereafter and through the Termination Date provide such transitional duties as requested by the Chief Executive Officer of the company.  The attached material summarizes important issues regarding severance payments and benefits which you will receive as the result of your separation from the company, provided that certain requirements are met.  The following applies only if your termination occurs on April 30, 2015.  You will not be terminated by the company prior to April 30, 2015 without Cause (as defined in the Severance Plan, as defined below).  All payments and benefits provided to you will be subject to applicable withholdings.

 

ATTACHMENT I — CASH SEVERANCE PAY WORKSHEET

 

Your severance pay calculation appears on this attachment. Your cash severance pay will consist of two components:  (1) cash severance benefits provided to you in accordance with the terms and provisions of the Second Amended and Restated Mead Johnson & Company, LLC Senior Executive Severance Plan (the “Severance Plan”) (which includes 4 weeks of Basic Severance as described in the Severance Plan) and (2) an additional cash severance payment of $379,500 (the “Additional Severance Amount”).  The severance payments that are payable pursuant to the Severance Plan will be subject to the terms and conditions of the Severance Plan.  You should consult the Severance Plan summary plan description for more information about these benefits.  Generally, however, severance payments under the Severance Plan will be paid to you at regular payroll intervals until the full benefit is paid.  If you obtain new employment before all of the payments are made, the balance of any unpaid severance payments to which you may be entitled under the Severance Plan will be paid to you in a lump sum to the extent permitted by law.  The Additional Severance Amount will be paid to you in substantially equal installments over eighteen months beginning 60 days after the Termination Date (the “Payment Start Date”) provided that you sign the attached General Release (described below) within the time limits provided, you do not revoke the General Release, and it is effective as of the Payment Start Date.  The cash severance payments provided to you under the Severance Plan (other than the Basic Severance) and the Additional Severance Amount are sometimes referred to in this letter as “Executive Severance”.

 

 

ATTACHMENT II - GENERAL RELEASE AND SPECIAL EXECUTIVE TERMS

Please read this attachment carefully, and consult with an attorney and any other advisor of your choice prior to signing the General Release and Special Executive Terms (the “General Release”).  Please note that if you do not choose to sign the General Release or if you revoke it within the applicable revocation period, you will only be eligible for Basic Severance as described in the Severance Plan and other benefits that may be due according to their terms.  Payment of Executive Severance, eligibility to select company-subsidized benefit continuation (Option I), certain bonus payments, and outplacement benefits, if applicable, are contingent upon your properly executing the General Release in a timely manner and not revoking it as of the date that payments or benefits are otherwise to be paid or provided under the applicable programs.

 

ATTACHMENT III - CERTIFICATION OF EMPLOYMENT FORM

 

You are required to advise the company if new full-time employment commences prior to the expiration of your Severance Pay Period (as defined in the Severance Plan) by completing this form and returning it to the Human Resources Department.  This will entitle you to receive the balance of your severance pay under the Severance Plan, if any, in a lump sum to the extent permitted by law.  Your Additional Severance Amount will not be accelerated.

 

ATTACHMENT IV - SUMMARY OF WELFARE BENEFIT COVERAGES

 

This attachment provides a summary of your current welfare benefit coverages, which may assist you in making decisions concerning coverage continuation where available.  Plan benefits are described in the summary plan description for the applicable plan.  Shortly following the Termination Date, detailed information concerning health care continuation options that are available to you and your dependents as a result of your termination of employment will be mailed to your home.  Under the Severance Plan, you will have the opportunity to select company-subsidized benefits continuation (Option I) (subject to satisfaction of applicable requirements, including the requirements relating to a General Release) or you may choose to pay for the full cost of benefits continuation (Option II) as provided by the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA).  If you are married, your spouse must also make an election to continue coverage and either you or your spouse must make continuation coverage elections on behalf of minor children.  Please note that as long as you are eligible for benefits under the company’s medical plan (or HMO) or dental plan, you will also continue to be eligible to participate in the Employee Assistance Program. At the end of your Severance Pay Period (or, if earlier, the date on which cash severance payments under the Severance Plan end) you will no longer be eligible for company-subsidized benefits continuation.  At that time, you may be eligible to continue your health plan benefits on an unsubsidized basis.  This will be described in the information being mailed to your home.

 

ATTACHMENT V - VACATION PAY SUMMARY

 

You will receive payment for all unused and accrued vacation.  Payment will be made in a lump sum as

 

 

soon as administratively feasible following your Termination Date and as required by law.  Your vacation will also include any banked vacation.

 

ATTACHMENT VI — EQUITY AWARDS

 

Generally, your outstanding equity awards (stock options, RSUs and Performance Shares) will be vested and, if applicable, exercisable or payable in accordance with the terms of the applicable award agreements.  Attached as Attachment VI is a list of your outstanding awards and a summary of the vesting provisions and exercise provisions.  Please reference your award information through Morgan Stanley Smith Barney at www.benefitaccess.com or (866) 267-7862 for further information.

 

OTHER IMPORTANT INFORMATION

 

INDEMNIFICATION

 

You will continue to be entitled to indemnification in accordance with Article Eighth of the Mead Johnson Nutrition Corporation Certificate of Incorporation and Article V of the Mead Johnson Nutrition Corporation By-laws.  Following the Termination Date, you will continue to be covered by the directors and officers liability insurance policy maintained by company in accordance with the terms of such policy as in effect from time to time.

 

RETIREMENT SAVINGS PLAN

 

If you were participating in the Mead Johnson & Company Retirement Savings Plan, your contributions cannot be continued after the Termination Date.  Within a few weeks following the Termination Date, you will receive important information from Fidelity describing your options as an inactive participant.

 

RETIREMENT PLAN

 

You will receive a benefit under the Mead Johnson & Company Retirement Plan (the “Retirement Plan”) based on your length of service through the Termination Date.  Vesting occurs once you complete five years of service with the company.  If you have satisfied the Retirement Plan requirement for retirement (age 55 with at least 10 years of service, or age 65), then you are eligible to begin receiving your pension benefit at any time.  Please call the Mead Johnson Pension Service Center at Fidelity to request a retirement package.  Your final pension benefit will be calculated when all necessary forms and required information are received (i.e. proof of birth date, Social Security Authorization form, etc.). If you are eligible to retire, you may also be entitled to retiree medical benefits.

 

BENEFIT EQUALIZATION PLANS

 

If you are a participant in either/both of the Mead Johnson & Company Benefit Equalization Plan—Retirement Savings Plan or Mead Johnson & Company Benefit Equalization Plan—Retirement Plan, any benefits to which you are entitled under those plans will be paid to you in accordance with the terms of the applicable plan.

 

 

SENIOR EXECUTIVE PERFORMANCE INCENTIVE PLAN

 

You will be eligible for a payment of the bonus for the 2014 plan year based on actual 2014 company performance factors to the extent that you have not already received payment as of the Termination Date.  This bonus, if any, will be paid at the same time that other similarly-situated executives are paid their bonus for 2014.

 

Subject to satisfaction of applicable performance targets, you be paid a pro rata portion of your annual incentive bonus for 2015, if any, in a lump sum at the time that annual incentive bonuses are paid to similarly-situated employees of the company who have not terminated employment, including, if applicable, after any required actions, including certification of applicable performance targets, are taken.  This payment is payable pursuant to the Severance Plan and will be subject to the terms and conditions of the Severance Plan.  You should consult the Severance Plan summary plan description for more information about this payment.  In addition, you will only be entitled to this payment if you sign the attached General Release and it is effective as of the Payment Start Date (or, if earlier, the date on which annual incentive bonuses for 2015 are otherwise paid to similarly-situated employees of the company who have not terminated employment).

 

REIMBURSEMENT FOR FINANCIAL PLANNING EXPENSES

 

The company will reimburse you, up to a maximum of $5,000, for fees and expenses incurred by you in connection with financial planning services and preparation of your tax returns for calendar year 2015.  Such reimbursement will be made to you only if you sign the General Release and do not revoke it.  Any reimbursement will be paid to you as soon as practicable after you provide documentation, reasonably acceptable to the company, of the fees and expenses so incurred, but in no event prior to January 1, 2015 and no later than April 30, 2015.

 

NON-DISPARAGEMENT

 

You shall not, directly or indirectly, make or cause to be made, any statement that disparages or is likely to harm the reputation of the company, any of its affiliates, or any of their respective products, services, officers, directors or employees. The company shall direct its directors and officers not to, directly or indirectly, make or cause to be made, any statement that disparages or is likely to harm your reputation.  Truthful statements required to be made by law or in response to legal process shall not violate the foregoing.

 

CONFIDENTIALITY

 

You are reminded of the continuing nature of your obligation to maintain confidentiality and not make use of information concerning the company’s business or affairs of any nature that is not otherwise a matter of public record.  This obligation, which you acknowledged and agreed to in the agreement concerning confidentiality that you executed when your employment with the company began, continues after the termination of your employment.

 

 

SUMMARY

 

This letter is intended to summarize the benefits to which you may be entitled as a result of your separation from the company in accordance with the terms hereof, assuming a Termination Date of April 30, 2015.  Again, for detailed explanations of the Severance Plan or other benefits provided under the Severance Plan, refer to the applicable plan document or summary plan description.  If you need a copy of any of these documents, contact the MJN Service Center at 1-877-500-0909.

 

Listed below are important telephone numbers that you will need if you wish to review your benefit coverages, or if you have any questions.

 

	
Retirement Savings Benefit Line

1-800-835-5095 or www.401k.com
    	
- For information on your Savings &   Investment Program Account
    
	
 
    	
 
    
	
Pension Service Center

1-866-402-7095
    	
- For information on your Savings &   Retirement Plan benefit
    
	
 
    	
 
    
	
MJN Service Center

1-877-500-0909

Accounts
    	
- For information on your Health Care, Group Life   Insurance, Reimbursement
    
	
 
    	
 
    
	
LifeWorks OneSource

1-877-260-7005
    	
-For confidential counseling on personal matters of   concern to you or your family
    

 

If you have any questions concerning this letter or any of the arrangements surrounding your separation from the company, please feel free to contact me directly.

 

 

	
 
    	
Sincerely,
    
	
 
    	
 
    
	
 
    	
/s/   Charles M. Urbain
    
	
 
    	
Charles   M. Urbain
    

 

 

	
Attachments:
    	
 
    
	
 
    	
 
    
	
Attachment I
    	
- Cash Severance Pay Worksheet
    
	
Attachment II
    	
- General Release with Special Executive   Terms
    
	
Attachment III
    	
- Certification of Employment Form
    
	
Attachment IV
    	
- Summary of Welfare Benefit Coverages
    
	
Attachment V
    	
- Vacation Pay Summary
    
	
Attachment VI
    	
- Summary of Outstanding Equity Awards
    

 

 

ATTACHMENT I
 CASH SEVERANCE PAY WORKSHEET

 

NAME OF EMPLOYEE: William C. P’Pool
 HR ID: 5000822

 

	
I.
    	
SEVERANCE PAY CALCULATION OF SERVICE:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
TERMINATION DATE:
    	
 
    	
 
    	
April 30, 2015
    
	
 
    	
DATE OF HIRE:
    	
 
    	
 
    	
June 7, 2004
    
	
 
    	
YEARS OF SERVICE:
    	
 
    	
 
    	
10.5YEARS
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
II.
    	
BASE SALARY UPON WHICH SEVERANCE PAY IS   CALCULATED: $460,000 PER YEAR
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
III.
    	
BASIC SEVERANCE PAY:
    	
 
    	
4 WEEKS BASE SALARY -
    	
$35,385
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
IV.
    	
EXECUTIVE SEVERANCE PAY:
    	
 
    	
18 MONTHS BASE SALARY AND TARGET BONUS -
    	
$1,138,500
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
V.
    	
ADDITIONAL CASH SEVERANCE PAY:
    	
 
    	
 
    	
$379,500
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
VI.
    	
TOTAL   SEVERANCE PAY:
    	
 
    	
BASIC,   EXECUTIVE AND ADDITIONAL SEVERANCE PAY -
    	
$1,553,385
    
						

 

PAYMENTS OF YOUR BASIC SEVERANCE PAY WILL BEGIN IMMEDIATELY FOLLOWING YOUR TERMINATION DATE AND ARE NOT SUBJECT TO YOUR EXECUTION OF A GENERAL RELEASE.  YOUR EXECUTIVE SEVERANCE PAY AND YOUR ADDITIONAL CASH SEVERANCE PAY WILL BEGIN AS OF THE DATE THAT IS 60 DAYS AFTER YOUR TERMINATION DATE (THE “PAYMENT START DATE”) PROVIDED THAT, AS OF THE PAYMENT START DATE, YOU HAVE EXECUTED A GENERAL RELEASE AND THE APPLICABLE REVOCATION PERIOD HAS EXPIRED AND YOU HAVE NOT REVOKED THE RELEASE.  OTHERWISE, YOU WILL NOT BE ENTITLED TO ANY CASH SEVERANCE PAY OTHER THAN THE BASIC SEVERANCE PAY.  ONCE SEVERANCE PAY (OTHER THAN THE BASIC SEVERANCE PAY) COMMENCES, IT WILL BE PAID IN REGULAR PAYROLL INTERVALS OVER 18 MONTHS IN ACCORDANCE WITH YOUR PAY SCHEDULE THAT WAS IN EFFECT PRIOR TO SEPARATION.  YOUR EXECUTIVE SEVERANCE PAY WILL CONTINUE TO THE END OF YOUR SEVERANCE PAY PERIOD; PROVIDED, HOWEVER, THAT IF YOU OBTAIN OTHER EMPLOYMENT PRIOR TO THE END OF YOUR SEVERANCE PAY PERIOD, ANY REMAINING PORTION OF YOUR EXECUTIVE SEVERANCE PAY (BUT NOT ANY

 

 

REMAINING PORTION OF YOUR ADDITIONAL CASH SEVERANCE PAY) WILL BE PAID TO YOU AS A LUMP SUM (PLEASE SEE ATTACHMENT III- “CERTIFICATION OF EMPLOYMENT FORM”) TO THE EXTENT PERMITTED BY APPLICABLE LAW.  YOUR ADDITIONAL CASH SEVERANCE PAY WILL NOT BE ACCELERATED AND WILL CONTINUE TO BE PAID OVER THE REMAINDER OF THE 18 MONTH PERIOD.

 

YOU ARE REQUIRED TO REVIEW AND SIGN THE GENERAL RELEASE FORM (ATTACHMENT II) AND RETURN IT TO THE COMPANY AS ONE OF THE REQUIREMENTS TO BECOME ELIGIBLE FOR EXECUTIVE SEVERANCE PAY AND ADDITIONAL CASH SEVERANCE PAY AS WELL AS CERTAIN OTHER BENEFITS UPON TERMINATION.

 

 

ATTACHMENT II
 GENERAL RELEASE AND SPECIAL EXECUTIVE TERMS

 

	
Name: William C. P’Pool
    	
Notification Date:   December 10, 2014
    

Mead Johnson & Company (hereinafter the “Company”) has offered me Benefits, as specified in Attachment I and this Agreement and General Release, including but not limited to (i) cash severance pay (“Executive Severance Pay”) under the Second Amended and Restated Mead Johnson & Company, LLC Senior Executive Severance Plan (the “Severance Plan”) (in addition to Basic Severance Pay), (ii) Additional Cash Severance Pay to which I am not otherwise entitled under the Severance Plan or otherwise, (iii) the opportunity to continue Company-subsidized benefits until my reemployment or the end of my Severance Pay Period (whichever occurs first), (iii) outplacement services in accordance with the Severance Plan and (iv) other additional consideration.  I understand that I will only be able to receive the above in consideration for my signing this General Release and Special Executive Terms (“General Release” or “Agreement”).  In the event of any conflict between the Severance Plan and this Agreement, this Agreement will govern.  I understand that I do NOT have to sign this General Release in order to receive Basic Severance.

 

The Company has advised me of, and I acknowledge the following:

 

I have 21 days from the date I receive this General Release to consider and sign it.  If I do not return this signed General Release in 21 days, the Company will consider this as my refusal to sign, and I will not receive Executive Severance Pay, Additional Severance Pay or other enhanced severance benefits (collectively, the “Conditional Severance Benefits”).  If I do sign this General Release, it will not be effective for a period of 7 calendar days, during which time I can change my mind and revoke my signature.  If I revoke my signature, I understand that I will not be entitled to the Conditional Severance Benefits.  To revoke my signature, I must notify the Company in writing, within 7 calendar days of the date I originally signed this General Release.  If I do sign this General Release, I understand that I will also be required to re-affirm my agreement to this General Release by signing once again within 21 days after the date my employment ends.  I will also have the opportunity to revoke my re-affirmation within 7 calendar days of the date I sign it, using the same procedure described above.

 

By signing this release I am forever giving up my right to sue the Company, and any affiliates, parent-companies and subsidiaries, and wholly-owned partnerships, respective employee benefit plans, their past, present and future officers, directors, employees, administrators, trustees, fiduciaries, insurers, and agents (collectively, the “Released Parties”) based upon any act or event occurring prior to my signing General Release.  Without limitation, I specifically release the Released Parties from any and all claims related to or arising out of my employment, or the termination of employment, including claims under federal anti-discrimination laws such as Title VII of the Civil Rights Act of 1964, the Age Discrimination

 

1

 

in Employment Act, the Americans with Disabilities Act, the Family Medical Leave Act, claims for the interference with my rights to benefits under the Employee Retirement Income Security Act of 1974 (including without limitation, Section 510 thereof), claims for breach of contract, tort and any common law actions, and claims under any and all federal, state, and local laws or regulations as well as any claims for attorneys’ fees, emotional distress, compensatory damages, or punitive damages.  Further, I hereby represent that I do not have any claims for retaliation or any claims in the nature of whistleblower claims or claims for violation of public policy.

 

I acknowledge that the Company has provided me instructions on how to obtain a Summary Plan Description of the terms of the Severance Plan currently in effect and I understand and accept them.  The Company and its agents and employees have not made any promises to me other than as stated in this General Release and attached documentation.  I understand that the Severance Plan requires me to immediately advise the Company if I obtain new employment while I am receiving Executive Severance Pay.  I understand and agree that the terms of this General Release may not be altered except in a written document signed by both me and an authorized representative of the Company.

 

By signing this General Release, I am NOT giving up my right to appeal a denial for benefits submitted under my medical or dental coverage, life insurance, disability program or retirement plan maintained by the Company.  Also, I am NOT giving up my right to file for unemployment insurance benefits at the appropriate time if I so choose, and my signing of this General  Release will NOT affect my rights, if any, to coverage by Workers’ Compensation insurance. I am NOT releasing any claims that may arise after the date I sign this General Release.  I acknowledge that my termination is not a part of a group termination program and therefore the Company has not provided me with information as to the group of individuals covered by any termination program.  I also understand this General Release shall not apply to (a) my rights to indemnification and other rights that are provided under this Agreement or under the by-laws or articles of incorporation of the Company; (b) any right I may have to obtain contribution as permitted by law in the event of entry of judgment against me as a result of any act or failure to act for which I, on the one hand, and Company or any other Releasee, on the other hand, are jointly liable; (c) my right to enforce this Agreement or (d) my rights under the equity awards of the Company, including the rights, if any, to vest in and exercise such equity awards in accordance with their terms or other rights to vested benefits to which I may be entitled under the Company’s employee benefit plans in accordance with their terms.

 

In consideration of the premises contained in this Agreement and for other good and valuable consideration, receipt of which is hereby acknowledged, the Company hereby waives, releases and forever discharges, and agrees that it will not in any manner institute, prosecute or pursue, any and all complaints, claims, charges, liabilities, claims for relief, demands, suits, actions or causes of action,

 

2

 

whether in law or in equity, which it asserts or could assert at common law or under any statute, rule, regulation, order or law, whether federal, state or local, or on any grounds whatsoever against me with respect to any event, matter, claim, damage or injury arising out of my relationship with the Company, including with respect to any event, matter, claim, damage or injury arising prior to the date of this General Release which the Company knows or should know.

 

This General Release does not constitute an admission of liability or wrongdoing of any kind by either Party. This General Release is not intended to be, and shall not be, construed as an admission that either Party has violated any federal, state or local law (statutory or decisional), ordinance or regulation, breached any contract or committed any wrong whatsoever against the other Party.

 

SPECIAL EXECUTIVE TERMS

 

Cooperation.  From time to time, the Company finds it necessary or advisable to contact former employees regarding matters about which they might have knowledge that are relevant to ongoing legal matters of the Company.  I agree that I will reasonably cooperate and generally make myself available to give testimony and assistance in connection with any lawsuits, claims, proceedings and investigations involving the Company.  In connection with my testimony, cooperation, and assistance, the Company may advance or reimburse to me reasonable expenses incurred by me.  Without limiting the foregoing, I agree (i) to meet with the Company’s representatives, its counsel or other designees at mutually convenient times and places with respect to any items within the scope of this paragraph; (ii) to provide truthful testimony to any court, agency or other adjudicatory body; (iii) to notify the Company within three (3) business days or as soon as reasonably practicable, if I am contacted by a party that is adverse or a representative of an adverse party; and (iv) not to assist any adverse party or any adverse party’s representatives, except for a governmental entity or as may be required by law.  I further understand any requests by me to the Company for the advancement of reasonable legal fees and expenses, and/or indemnification will be considered by the Company and determined in accordance with the Company’s applicable bylaws, Board resolutions and Delaware law.  The Company will bear the costs associated with my removal or resignation as an officer of the Company or any of its affiliates, including any costs associated with my removal from non-U.S. bank accounts.

 

Confidentiality of this Agreement.  I understand and agree that this Agreement is confidential and agree, except as required by law, not to disclose its terms or the fact of its existence or execution to any other person or entity without the prior written consent of a duly authorized officer of the Company.  The non-disclosure language contained in this paragraph does not apply to disclosures made to my spouse, attorney or tax advisor, so long as the excepted individuals agree not to further disclose such information, nor does it apply to disclosures to Releasees or to disclosures intended to comply with securities laws.

 

3

 

Return of Company’s Property; Confidentiality.  I warrant and represent that I have returned all Company property of any kind, including without limitation both the originals and all copies of electronic and printed records, reports, documents, computer software, equipment, keys, badges, and any other materials or personal property belonging to the Company, or provided to me or created in connection with my employment with the Company, which I have or had in my possession or control.

 

Confidentiality.  I clearly understand the continuing nature of my obligation to maintain confidentiality and not make use of information concerning the Company’s or any of its affiliates’ business or affairs of any nature that is not otherwise a matter of public record.  This obligation, which I acknowledged and agreed to in the agreement concerning confidentiality that I executed during my employment with the Company or its predecessors, continues after the termination of my employment.  I hereby reaffirm my agreements, understandings, obligations or representations pursuant to any prior confidentiality and/or proprietary information agreements in effect at the start of or during the employment relationship and agree that all such agreements will remain in full force and effect.  By way of example only, information about compensation at the Company, in general or for specific individuals or positions, information about valuable human resources, and information about Company policies or strategies are extremely confidential (except to the extent they are intentionally made a part of the public record).  I understand and agree that I shall not disclose or use such information except in the course of performing my duties for the Company.

 

Entire Agreement.  I understand and agree that this Agreement supersedes any prior agreements, understandings, obligations or representations by the Company to me, except as other agreements or employee benefit plans are referenced and/or incorporated herein, and that any prior agreements, understandings, obligations or representations not so referenced or incorporate herein are null and void; notwithstanding the foregoing, this Agreement will not in any way supersede nor terminate my agreements, understandings, obligations or representations pursuant to any prior confidentiality and/or proprietary information agreements in effect at the start of or during the employment relationship and all such agreements will remain in full force and effect.  No representations, obligations, understandings, or agreements, oral or otherwise, exist between the parties except as expressly stated in this Agreement.  This Agreement may be amended or terminated only by a written document signed by me and a duly authorized officer on behalf of the Company.

 

Governing Law; Disputes and Claims.  The Agreement shall be governed by and construed according to the laws of the State of Illinois, without reference to conflict of laws principles.  Disputes or claims related to or arising out of this Agreement, or related to or arising out of the termination of my employment, or relating to or arising out of any of the matters herein released shall be subject to binding arbitration in Chicago, Illinois, or such other location as may be agreed between me and the Company,

 

4

 

such arbitration to proceed under the American Arbitration Association Employment Dispute Resolution Rules.  There shall be a single arbitrator, such arbitrator to be decided by mutual agreement between me and the Company; provided, however, that if no agreement can be reached within thirty (30) days after I or the Company propose an arbitrator, then the arbitrator shall be selected by the AAA under its Employment Dispute Resolution Rules.  In the event of a dispute, each party shall bear its own costs and fees, except in the event that a statute requires that costs and fees be assessed against the Company or me.  Nothing in this Agreement is intended to prevent either me or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any arbitration.  Notwithstanding the arbitration provisions in this section, the following disputes shall not be subject to arbitration: (1) any dispute under an employee benefit plan shall be determined under the provisions stated in such plan and, to the extent relevant, by statute; and (2) any dispute regarding my compliance with the confidentiality terms of this Agreement or referenced agreements in which either party seeks an injunction may be brought in a court of competent jurisdiction in Illinois.

 

MY SIGNATURE BELOW ACKNOWLEDGES THAT I HAVE READ THIS ENTIRE DOCUMENT, UNDERSTAND WHAT I AM SIGNING, AND AM ACTING VOLUNTARILY OF MY OWN FREE WILL, HAVING RECEIVED VALUABLE CONSIDERATION FOR THIS AGREEMENT. THE COMPANY HAS HEREBY ADVISED ME IN WRITING TO CONSULT WITH AN ATTORNEY AND ANY OTHER ADVISORS OF MY CHOICE PRIOR TO SIGNING THIS GENERAL RELEASE AND HAS ADVISED ME THAT I AM RELEASING CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT, AMONG OTHER CLAIMS, AND FURTHER THAT I WILL NOT RECEIVE ANY PAYMENTS OR BENEFITS EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT.

 

	
SIGNATURE 
    	
/s/ William C. P’Pool
    	
 
    	
DATE:
    	
12-10-14
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
AGREED BY THE COMPANY:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Charles M. Urbain
    	
 
    	
 
    
	
Charles M. Urbain
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Its:
    	
SVP & Chief Development Officer
    	
 
    	
DATE:
    	
12-10-14
    
						

 

5

 

I HEREBY RE-AFFIRM MY INTENTION TO BE BOUND BY THIS GENERAL RELEASE WITH FULL EFFECT UP TO AND INCLUDING THE DATE THAT I SIGN BELOW.

 

	
SIGNATURE 
    	
 
    	
 
    	
DATE                             ]
    

 

HR ID:  5000822

 

6

 

ATTACHMENT III
 CERTIFICATION OF EMPLOYMENT FORM

 

To:         Human Resources Department

Mead Johnson & Company

 

In accordance with the requirements of the Second Amended and Restated Mead Johnson & Company, LLC Senior Executive Severance Plan (the “Severance Plan”), I am hereby notifying you that effective                                         , I have begun full-time employment with:

 

	
Company   Name:
    	
 
    	
 
    
	
 
    	
 
    
	
Address:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Telephone   Number:
    	
 
    	
 
    

 

As a result of this new employment, I understand that all outstanding payments of cash severance otherwise payable in accordance with the terms of the Severance Plan for the remainder of my severance pay period will be sent to me as a lump sum as soon after the effective date of my new employment as practical if and as permitted by applicable law.  I understand that no portion of my additional cash severance pay will be accelerated.

 

I also understand that, if I was participating in health care continuation under Option I of the Severance Plan (i.e., company-subsidized benefits), the Company subsidy will cease as of the end of the month in which my new employment becomes effective.  I understand that health care coverages can continue on an unsubsidized basis, subject to the terms and provisions of the company’s plans, if I make full payment to the company or its authorized agent.

 

	
Name of Former Employee:
    	
 
    	
 
    
	
 
    	
 
    
	
Signature:
    	
 
    	
 
    
	
 
    	
 
    
	
Date:
    	
 
    	
 
    
	
 
    	
 
    
	
Address:
    	
 
    	
 
    
	
 
    	
 
    
	
Telephone Number:
    	
 
    	
 
    
							

 

 

*Processing Instructions
 *Complete this form if new employment is obtained prior to the expiration of your Severance Pay Period.  Return the completed form to your former company Human Resources Department representative.

 

HR ID: 5000822

 

 

ATTACHMENT IV
 SUMMARY OF WELFARE BENEFIT COVERAGES

 

Name of employee: William C. P’Pool
 HR ID: 5000822
 Date of termination: April 30, 2015

 

The following information is provided to assist you in making certain benefit choices following your separation from the Company.  Detailed information and the forms to continue your health care coverage will be sent to your home address in the near future.  Should you have any questions, contact the MJN Service Center at 1-877-500-0909.

 

While you are receiving severance pay in accordance with the Second Amended and Restated Mead Johnson & Company, LLC Senior Executive Severance Plan (the “Severance Plan”), life insurance equal to one times your salary will be continued at the Company’s expense.

 

*Detailed information concerning health care continuation options that are available to you and your dependents as a result of your severance under the Severance Plan will be mailed to your home. You and your covered dependents will have the opportunity to select company-subsidized benefits continuation (Option I) or you may choose to pay for the full cost of benefits continuation via COBRA (Option II).  If you are married, your spouse must also make this election.  Please note that in order to select company-subsidized benefits continuation, you are required to execute (and not revoke) the General Release (Attachment II).  In addition, the package will also contain information about how you can convert your group life insurance coverage to individual policies at the conclusion of your severance period.

 

 

ATTACHMENT V
 VACATION PAY SUMMARY

 

Name of employee: William C. P’Pool
 HR ID: 5000822

 

Our records indicate that you are eligible for vacation pay as follows:

 

	
Banked vacation
    	
-
    	
—
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Accrued vacation
    	
-
    	
—
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Unused vacation
    	
-
    	
120 Hours
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Total
    	
-
    	
120 Hours
    	
 
    

 

Note:  With annual vacation eligibility of 4 weeks, projected additional vacation to be accrued in 2015 by April 30,2015 Termination Date of 64 hours (16 hours per month X 4)

 

 

ATTACHMENT VI
 SUMMARY OF OUTSTANDING EQUITY AWARDS

 

Name of employee: William C. P’Pool
 HR ID: 5000822

 

ATTACHED IS A CHART OF AWARDS AND VESTING AND EXERCISE PROVISIONS

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