Document:

QCOR 2014.6.30 10.7

Exhibit 10.7

AMENDMENT

This AMENDMENT (the “Amendment”), dated as of May 23, 2014, is made and entered into by and between Questcor Pharmaceuticals, Inc., a California corporation (the “Company”), and David Young (the “Executive”).

RECITALS

WHEREAS, the Company, Mallinckrodt plc, an Irish public limited company and Quincy Merger Sub, Inc. a Delaware corporation (the “Merger Sub”), have entered into an Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which Merger Sub will merge with and into the Company, with the Company as the surviving corporation of such merger (the “Merger”);

WHEREAS, the Company and the Executive are parties to a Severance Agreement, dated as of October 19, 2009 (the “Agreement”); and

WHEREAS, in connection with the Merger, the Company and the Executive desire to enter into this Amendment with respect to the effect of the Merger under the Agreement.

AMENDMENT

The parties hereto hereby amend the Agreement as follows, effective as of the date on which the Merger Agreement is entered into (the “Effective Date”).  

1.    The definition of “Good Reason” in the Agreement is hereby deleted and replaced in its entirety with the following:

““Good Reason” shall mean the occurrence of any one or more of the following events:

(1) Without the Executive’s written consent, assignment to the Executive of any duties inconsistent in any material respect with the Executive’s duties or responsibilities;

(2) Without the Executive’s written consent, a material change in the geographic location at which the Executive must perform services to a location which is more than 50 miles from the Executive’s principal place of business; or

(3) Without the Executive’s written consent, a material reduction in the Executive’s base salary compensation opportunity.

Notwithstanding the foregoing, the Executive shall be considered to have a Good Reason only if (x) the Executive provides written notice to the Company specifying in reasonable detail the event upon which the Executive is basing such Good Reason within ninety (90) days after the occurrence of such event, (y) the Company fails to cure such event within thirty (30) days after its receipt of such notice, and (z) the Executive terminates employment within sixty (60) days after the expiration of such cure period.  In addition, notwithstanding anything to the contrary contained herein, in order to receive severance payments and/or benefits upon a termination of employment for Good Reason in connection with a Change in Control, the event(s) constituting Good Reason must occur 

during the period beginning sixty (60) days prior to the date of a Change in Control and ending one (1) year after the date of such Change in Control.”

2.    To the extent applicable, the Agreement shall be deemed amended to the extent necessary to effectuate the provisions and intent of this Amendment, and such amendments shall be incorporated in and form a part of such agreements.

3.    In the event the Merger Agreement is terminated prior to consummation of the Merger, this Amendment shall automatically and without further action terminate.

4.    This Amendment shall be administered, interpreted and enforced under the internal laws of the State of California without regard to the principles of conflicts of laws thereof.

5.    If any provision of this Amendment is determined to be invalid or unenforceable, it shall be adjusted rather than voided, to achieve the intent of the parties to the extent possible, and the remainder of the Amendment shall be enforced to the maximum extent possible.

6.    This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument.  The parties hereto agree to accept a signed facsimile copy of this Amendment as a fully binding original.

(Signature page follows)

IN WITNESS WHEREOF, this Amendment has been executed and delivered by the parties hereto.

QUESTCOR PHARMACEUTICALS,
a California corporation

By: /s/ Don M. Bailey
Name:  Don M. Bailey
Title:  President and CEO

EXECUTIVE

/s/ David Young
David YoungCLGX- 6.30. 14-EX10.1

	
		
	Exhibit 10.1
	 

	
	Corporate Office
40 Pacifica, Suite 900
Irvine, California  92618
USA

June 16, 2014

Frank D. Martell
40 Pacifica, Suite 900
Irvine, CA 92618

RE:  Amendment to Employment Agreement

Dear Frank:

Following our discussions, this letter (this “Letter”), effective as of June 16, 2014, describes certain changes to the terms and conditions of your employment and, once signed, will serve as an amendment to the Employment Agreement between you and CoreLogic, Inc. (the “Company”), dated August 29, 2011 (the “Employment Agreement”).  Any terms used in this Letter that are not defined herein have the definition ascribed to them in the Employment Agreement.  Note that you are referenced as “the Executive” herein.

This Letter, when fully executed, together with the Employment Agreement, which specifically incorporates the Confidential Information and Inventions Agreement you executed, the Change of Control Agreement you executed, and corporate policies of the Company, along with the Indemnification Agreement you executed, reflects the entire agreement regarding the terms and conditions of your employment.  Unless expressly modified by this Letter, the terms and conditions of the Employment Agreement will remain the same.  To the extent that the terms of this Letter are inconsistent with the terms of your Employment Agreement, this Letter supersedes the terms of your Employment Agreement. 

Section 1.2 of the Employment Agreement is hereby amended and restated in its entirety as follows:

Duties.  Following the appointment by the Company’s Board of Directors, the Executive shall serve as the Chief Operating & Financial Officer and shall have such other duties and responsibilities as the Chief Executive Officer of Company (the “CEO”) shall determine from time to time.  The Executive shall be subject to the corporate policies of the Company as they are in effect from time to time throughout the Period of Employment (including, without limitation, the Company’s Code of Conduct, as it may change from time to time).  During the Period of Employment, the Executive shall report solely to the CEO.  

Section 3.1 of the Employment Agreement is hereby amended and restated in its entirety as follows:

Base Salary.  The Executive’s base salary (the “Base Salary”) shall be paid in accordance with the Company’s regular payroll practices in effect from time to time, but not less frequently than in monthly installments.  The Executive’s Base Salary for the twelve (12) months effective as of June 16, 2014, shall be at an annualized rate of Six Hundred Fifty Thousand Dollars ($650,000).  The Company will review the Executive’s Base Salary at least annually and may increase the Executive’s Base Salary from the rate then in effect based on such review.  

By executing this Letter, you confirm your decision to accept the amendments to the terms of your Employment Agreement and you agree that your employment will be governed by the Employment Agreement, as amended by this Letter.

I have provided you two originals of this letter.  Please sign both originals, and return one original to me no later than June 27, 2014.  

Very truly yours,

CoreLogic, Inc.

/s/ Anand Nallathambi

Anand K. Nallathambi
President & Chief Executive Officer

Read, understood, consented, and agreed as of this 16th day of  June  , 2014:

  /s/ Frank D. Martell                        
Frank D. Martell 

Page | 2CLGX- 6.30. 14-EX10.2

	
		
	Exhibit 10.2

	 

	
	Corporate Office
40 Pacifica, Suite 900
Irvine, California  92618
USA

June 16, 2014

Barry Sando
1 CoreLogic Drive
Westlake, TX 76262

RE:  Amendment to Employment Agreement

Dear Barry:

Following our discussions, this letter (this “Letter”), effective as of June 16, 2014, describes certain changes to the terms and conditions of your employment and, once signed, will serve as an amendment to the Employment Agreement between you and CoreLogic, Inc. (the “Company”), dated May 3, 2011 (the “Employment Agreement”).  Any terms used in this Letter that are not defined herein have the definition ascribed to them in the Employment Agreement.  Note that you are referenced as “the Executive” herein.

This Letter, when fully executed, together with the Employment Agreement, which specifically incorporates the Confidential Information and Inventions Agreement you executed and corporate policies of the Company, reflects the entire agreement regarding the terms and conditions of your employment.  Unless expressly modified by this Letter, the terms and conditions of the Employment Agreement will remain the same.  To the extent that the terms of this Letter are inconsistent with the terms of your Employment Agreement, this Letter supersedes the terms of your Employment Agreement. 

Section 1.2 of the Employment Agreement is hereby amended and restated in its entirety as follows:

Duties.  During the Period of Employment, the Executive shall serve the Company as its Group Executive and Executive Vice President for Technology and Processing Solutions and Asset Management and Processing Solutions and shall have such other duties and responsibilities as the Chief Operating & Financial Officer (the “COFO”) or the Chief Executive Officer (the “CEO”) shall determine from time to time.  The Executive shall be subject to the corporate policies of the Company as they are in effect from time to time throughout the Period of Employment (including, without limitation, the Company’s Code of Conduct, as it may change from time to time).  During the Period of Employment, the Executive shall report directly to the COFO. 

By executing this Letter, you confirm your decision to accept the amendment to the terms of your Employment Agreement and you agree that your employment will continue to be governed by the Employment Agreement, as amended by this Letter.

I have provided you two originals of this letter.  Please sign both originals, and return one original to me no later than June 27, 2014.  

Very truly yours,

CoreLogic, Inc.

/s/ Anand Nallathambi

Anand K. Nallathambi
President & Chief Executive Officer

Read, understood, consented to, and agreed to as of this  26   day of   June  , 2014:

  /s/ Barry M. Sando                            
Barry M. Sando

Page | 2

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