Document:

Exhibit 10.6

Exhibit 10.6

EXECUTION VERSION

JOINDER AGREEMENT
This Joinder Agreement is dated as of August 5, 2013 (this “Agreement”), by and among each of the financial institutions set forth on Schedule A annexed hereto (each a “New Term Loan Lender” and collectively the “New Term Loan Lenders”), Valeant Pharmaceuticals International, Inc., a corporation continued under the federal laws of Canada (“Borrower”), the undersigned subsidiaries of Borrower and Goldman Sachs Lending Partners LLC (“GSLP”), as Administrative Agent and Collateral Agent.
RECITALS:
WHEREAS, reference is hereby made to the Third Amended and Restated Credit and Guaranty Agreement, dated as of February 13, 2012, as amended by Amendment No. 1, dated as of March 6, 2012, by Amendment No. 2, dated as of September 10, 2012, by Amendment No. 3, dated as of January 24, 2013, by Amendment No. 4, dated as of February 21, 2013, by Amendment No. 5, dated as of June 6, 2013, by Amendment No. 6, dated as of June 26, 2013, as further amended by the Joinder Agreement, dated as of June 14, 2012, by the Joinder Agreement, dated as of July 9, 2012, by the Joinder Agreement, dated as of September 11, 2012, by the Joinder Agreement dated as of October 2, 2012, and by the Joinder Agreement, dated as of December 11, 2012 (as it may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time, GSLP, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as Joint Lead Arrangers and Joint Bookrunners, JPMorgan Chase Bank, N.A. (“JPMorgan”) and Morgan Stanley, as Co-Syndication Agents, JPMorgan, as Issuing Bank, GSLP, as Administrative Agent and Collateral Agent, and the other Agents party thereto; 
WHEREAS, subject to the terms and conditions of the Credit Agreement, Borrower  may obtain New Revolving Loan Commitments and/or New Term Loan Commitments by entering into one or more Joinder Agreements with the New Term Loan Lenders; and
WHEREAS, pursuant to Section 2.25 of the Credit Agreement, the Credit Agreement may, without the consent of any other Lenders, be amended as may be necessary or appropriate, in the opinion of the Administrative Agent, to give effect to the provisions of Section 2.25 of the Credit Agreement.
NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows:
Each New Term Loan Lender (i) confirms that it has received a copy of the Credit Agreement and the other Credit Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes Administrative Agent and each other Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are delegated to Administrative Agent or such other Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto; 

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and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.
Each New Term Loan Lender hereby commits to provide its respective New Term Loan Commitment (each a “Series E Tranche B Term Loan Commitment”) as set forth on Schedule A annexed hereto, on the terms and subject to the conditions set forth below:
		
	1.
	Applicable Margin.  The Applicable Margin for each New Term Loan made pursuant to this Agreement (each a “Series E Tranche B Term Loan”) shall mean, as of any date of determination, (A) with respect to Series E Tranche B Term Loans that are Eurodollar Loans, 3.75% per annum, and (B) with respect to Series E Tranche B Term Loans that are Base Rate Loans, 2.75% per annum.

		
	2.
	Principal Payments.  Borrower shall make principal payments on the Series E Tranche B Term  Loans in installments on the dates and in the amounts equal to the percentage set forth below of an amount equal to the aggregate principal amount of the Series E Tranche B Term Loans outstanding as of the date hereof:

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	Amortization Date
	Series E Tranche B Term Loan Installments

	September 30, 2013
	0.25%

	December 31, 2013
	0.25%

	March 31, 2014
	0.25%

	June 30, 2014
	0.25%

	September 30, 2014
	0.25%

	December 31, 2014
	0.25%

	March 31, 2015
	0.25%

	June 30, 2015
	0.25%

	September 30, 2015
	0.25%

	December 31, 2015
	0.25%

	March 31, 2016
	0.25%

	June 30, 2016
	0.25%

	September 30, 2016
	0.25%

	December 31, 2016
	0.25%

	March 31, 2017
	0.25%

	June 30, 2017
	0.25%

	September 30, 2017
	0.25%

	December 31, 2017
	0.25%

	March 31, 2018
	0.25%

	June 30, 2018
	0.25%

	September 30, 2018
	0.25%

	December 31, 2018
	0.25%

	March 31, 2019
	0.25%

	June 30, 2019
	0.25%

	September 30, 2019
	0.25%

	December 31, 2019
	0.25%

	March 31, 2020
	0.25%

	June 30, 2020
	0.25%

	August 5, 2020 (the “Series E Tranche B Term Loan Maturity Date”)
	Remaining Balance

		
	3.
	Voluntary and Mandatory Prepayments.  Scheduled installments of principal of the Series E Tranche B Term Loans set forth above shall be reduced in connection with any voluntary or mandatory prepayments of the Series E Tranche B Term Loans in accordance with Sections 2.12, 2.13 and 2.14 of the Credit Agreement respectively.

		
	4.
	Closing Fee / OID.  Borrower agrees to pay on the date hereof to Administrative Agent, for the account of each New Term Loan Lender party to this Agreement, as fee compensation for the funding of such New Term Loan Lender’s Series E Tranche B Term Loans, a closing fee in an amount equal to 1.50% of the aggregate principal amount of such New Term Loan Lender’s Series E Tranche B Term Loans funded as of the date hereof.

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	5.
	Ticking Fee.  Administrative Agent shall receive from Borrower, for the account of the New Term Loan Lenders, a nonrefundable ticking fee on the aggregate principal amount of such New Term Lender’s Series E Tranche B Term Loan Commitment as of the date that the Series E Tranche B Term Loans have been priced (the “Pricing Date”) (the “Ticking Fee”), which fee will commence accruing as of the 31st day after the Pricing Date and expiring on the Ticking Fee Payment Date (as defined below), at a rate per annum equal to 3.75%, and shall be payable on the date (the “Ticking Fee Payment Date”) that is the earliest to occur of (x) the first to occur of (1) the consummation of  the acquisition (the “Acquisition”) by the Borrower of 100% of the capital stock of Bausch & Lomb Holdings Incorporated (“Bausch & Lomb”) pursuant to the agreement and plan of merger, dated as of May 24, 2013, among the Borrower, Valeant Pharmaceuticals International, a Delaware corporation (“VPI”), Stratos Merger Corp., a Delaware corporation and a wholly owned subsidiary of VPI, and Bausch & Lomb (the “Bausch & Lomb Acquisition Agreement”), (2) the abandonment or termination of the Bausch & Lomb Acquisition Agreement and (3) 5:00 p.m. New York time on November 24, 2013 and (y) the Series E Tranche B Term Loan Funding Date (as defined below); which such Ticking Fee shall be calculated at a rate per annum, calculated on the basis of a year of 360 days and the actual number of days expired during the applicable period.

		
	6.
	Prepayment Premium.  In the event that on or prior to the six month anniversary of the Series E Tranche B Term Loan Funding Date, the Borrower (x) makes any prepayment of the Series E Tranche B Term Loans in connection with any Repricing Transaction or (y) effects any amendment of the Credit Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Lenders, (I) in the case of clause (x) above, a prepayment premium of 1% of the amount of the Series E Tranche B Term Loans being prepaid and (II) in the case of clause (y) above, a payment equal to 1% of the aggregate amount of the applicable Series E Tranche B Term Loans outstanding immediately prior to such amendment.

For purposes of this Agreement, a “Repricing Transaction” means the prepayment or refinancing of all or a portion of the Series E Tranche B Term Loans with the incurrence by any Credit Party of any long-term bank debt financing having an effective interest cost or weighted average yield (excluding any arrangement or commitment fees in connection therewith) that is less than the effective interest cost for or weighted average yield of the Series E Tranche B Term Loans, including without limitation, as may be effected through any amendment to this Agreement relating to the effective interest cost for, or weighted average yield of, the Series E Tranche B Term Loans.
		
	7.
	Proposed Borrowing. In accordance with Section 2.25 of the Credit Agreement, Borrower has previously delivered to Administrative Agent an executed Funding Notice for Series E Tranche B Term Loans, requesting a proposed borrowing in the principal amount of $3,200,000,000 (the “Proposed Borrowing”) on the date hereof (the “Series E Tranche B Term Loan Funding Date”).  Each New Term Loan Lender shall make its Series E Tranche B Term Loan available to Administrative Agent not later than 11:00 a.m. (New York City time) on the date hereof, by wire transfer of same day funds in Dollars at the Principal Office designated by Administrative Agent.  Promptly upon receipt thereof, Administrative Agent shall make the proceeds of the Series E Tranche B Term Loans available to Borrower on the date hereof by causing an amount of same day funds in Dollars equal to the proceeds of all such loans received by Administrative Agent from New Term Loan Lenders to be credited to the account of Borrower, at the Principal Office 

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designated by Administrative Agent or to such other account as may be designated in writing to Administrative Agent by Borrower. 
		
	8.
	New Lenders.  Each New Term Loan Lender (other than any New Term Loan Lender that, immediately prior to the execution of this Agreement, is a “Lender” under the Credit Agreement) acknowledges and agrees that upon its execution of this Agreement its Series E Tranche B Term Loan Commitments shall be effective and that such New Term Loan Lender shall become a “Lender” under, and for all purposes of, the Credit Agreement and the other Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder.

		
	9.
	Amendment to Credit Agreement.  The Credit Agreement is hereby amended as follows (the “Amendment”):

(a)    The following defined terms shall be added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order:
(i)    “Series E Tranche B Term Loan Funding Date” means August 5, 2013.
		
	 
	(b)    The definition of “Applicable Margin” set forth in Section 1.1 of the Credit Agreement shall be amended by deleting clause (a)(iii) and (iv) thereof and replacing it in its entirety with the following:

“(iii) for the period commencing on the Amendment No. 4 Effective Date until (but not including) the Series E Tranche B Term Loan Funding Date, (w) with respect to Series C-1 Tranche B Term Loans that are Eurodollar Rate Loans, 2.75% per annum , (x) with respect to Series C-1 Tranche B Term Loans that are Base Rate Loans, 1.75% per annum, (y) with respect to Series D-1 Tranche B Term Loans that are Eurodollar Rate Loans, 2.75% per annum, and (z) with respect to Series D-1 Tranche B Term Loans that are Base Rate Loans, 1.75% per annum, and (iv) thereafter, (w) with respect to Series C-1 Tranche B Term Loans that are Eurodollar Rate Loans, 3.625% per annum , (x) with respect to Series C-1 Tranche B Term Loans that are Base Rate Loans, 2.625% per annum, (y) with respect to Series D-1 Tranche B Term Loans that are Eurodollar Rate Loans, 3.625% per annum, and (z) with respect to Series D-1 Tranche B Term Loans that are Base Rate Loans, 2.625% per annum”.
The Amendment set forth in this Section 9 shall be effective on the Series E Tranche B Term Loan Funding Date, upon receipt by the Administrative Agent of an executed counterpart of this Agreement by (A) the Borrower, (B) the other Credit Parties and (C) the Administrative Agent and consummation of the Proposed Borrowing.
		
	10.
	Credit Agreement Governs.  Series E Tranche B Term Loans shall be subject to the provisions of the Credit Agreement and the other Credit Documents, except as set forth in this Agreement, and shall constitute Tranche B Term Loans thereunder.  For the avoidance of doubt, Section 5 of this Agreement shall supersede the final paragraph of Section 2.13(a) of the Credit Agreement with respect to Series E Tranche B Term Loans.

		
	11.
	Borrower’s Certifications.  By its execution of this Agreement, the undersigned officer, to the best of his or her knowledge, and Borrower hereby certify that:

		
	i.
	The representations and warranties set forth in Section 4.1(a) of the Credit Agreement (solely with respect to due organization), Section 4.1(b) of the Credit 

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Agreement (solely with respect to this Agreement), Section 4.3 of the Credit Agreement (solely with respect to this Agreement), Section 4.4(a)(ii) of the Credit Agreement (solely with respect to this Agreement), 4.4(b) of the Credit Agreement with respect to material debt agreements (solely with respect to this Agreement); Section 4.6 of the Credit Agreement (solely with respect to this Agreement), Section 4.15 of the Credit Agreement (solely with respect to regulation under the Investment Company Act of 1940), Section 4.16 of the Credit Agreement (solely with respect to this Agreement); Section 4.20 of the Credit Agreement; Section 4.23 of the Credit Agreement (solely with respect to the PATRIOT Act and the U.S. Foreign Corrupt Practices Act of 1977) and Section 4.25 of the Credit Agreement are true and correct in all material respects on and as of the date hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true and correct in all material respects on and as of such earlier date; and
		
	ii.
	Borrower has performed in all material respects all agreements and satisfied all conditions which the Credit Agreement provides shall be performed or satisfied by it on or before the date hereof in connection with the Proposed Borrowing.

		
	12.
	Borrower Covenants.  By its execution of this Agreement, Borrower hereby covenants that:

		
	i.
	Borrower shall deliver or cause to be delivered the following legal opinions and documents: originally executed copies of the favorable written opinions of (a) Skadden, Arps, Slate, Meagher & Flom LLP, U.S. counsel to the Credit Parties, (b) Chancery Chambers, special Barbados counsel to the Credit Parties, (c) Norton Rose Fulbright Canada LLP, special Canadian counsel to the Credit Parties, (d) Baker & McKenzie, special Luxembourg counsel to the Credit Parties, (e) Conyers Dill & Pearman Limited, special Bermuda counsel to the Credit Parties, (f) Arthur Cox, special Ireland counsel to the Credit Parties and (g) Baker & McKenzie, special Swiss counsel to the Credit Parties together with all other legal opinions and other documents reasonably requested by Administrative Agent in connection with this Agreement.

		
	13.
	Bausch & Lomb Acquisition.  The Acquisition shall have been consummated or shall be consummated substantially simultaneously with the initial borrowing of the Series E Tranche B Term Loans.

		
	14. 
	Use of Proceeds.  The proceeds of the Series E Tranche B Term Loans on the Series E Tranche B Term Loan Funding Date shall be used to finance a portion of the Bausch & Lomb Transactions; provided that any excess proceeds of the Series E Tranche B Term Loans remaining after the financing of the Bausch & Lomb Transactions may be used for general corporate purpose of the Borrower.

		
	15.
	Eligible Assignee.  By its execution of this Agreement, each New Term Loan Lender (other than any New Term Loan Lender that, immediately prior to the execution of this Agreement, is a “Lender” under the Credit Agreement) represents and warrants that it is an Eligible Assignee.

		
	16.
	Notice.  For purposes of the Credit Agreement, the initial notice address of each New Term Loan Lender shall be as set forth below its signature below.

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	17.
	Non‐U.S. Lenders.  For each New Term Loan Lender that is a Non‐U.S. Lender, delivered herewith to Administrative Agent are such forms, certificates or other evidence with respect to United States federal income tax withholding matters as such New Term Loan Lender may be required to deliver to Administrative Agent pursuant to subsection 2.20(d) of the Credit Agreement. 

		
	18.
	Recordation of the New Loans.  Upon execution and delivery hereof, Administrative Agent will record the Series E Tranche B Term Loans made by New Term Loan Lenders pursuant hereto in the Register.

		
	19.
	Reaffirmation. 

		
	i.
	Each Credit Party hereby expressly acknowledges the terms of this Agreement and reaffirms, as of the date hereof, the covenants and agreements contained in each Credit Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to this Agreement and the transactions contemplated hereby.

		
	ii.
	Each Credit Party, by its signature below, hereby affirms and confirms (a) its obligations under each of the Credit Documents to which it is a party, and (b) the pledge of and/or grant of a security interest or hypothec in its assets as Collateral to secure such Obligations, all as provided in the Collateral Documents as originally executed, and acknowledges and agrees that such guarantee, pledge and/or grant continue in full force and effect in respect of, and to secure, such Obligations under the Credit Agreement and the other Credit Documents.

		
	ii.
	Each Credit Party acknowledges and agrees that each of the Credit Documents in existence as of the date hereof shall be henceforth read and construed in accordance with and so as to give full force and effect to the ratifications, confirmations, acknowledgements and agreements made herein. 

		
	20.
	Amendment, Modification and Waiver.  This Agreement may not be amended, modified or waived except by an instrument or instruments in writing signed and delivered on behalf of each of the parties hereto.

		
	21.
	Entire Agreement.  This Agreement, the Credit Agreement and  the other Credit Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof.  It is understood and agreed that each reference in each Credit Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended and supplemented hereby and that this Agreement is a Credit Document.

		
	22.
	GOVERNING LAW.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

		
	23.
	Severability.  Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or 

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unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction.  If any provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable.
		
	24.
	Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement.

[Remainder of page intentionally left blank]

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IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Agreement as of the date first written above.
GOLDMAN SACHS LENDING PARTNERS LLC, as a “New Term Loan Lender”
By:      /s/ Elizabeth Fischer     
Name:    Elizabeth Fischer 
Title:    Authorized Signatory
Notice Address:
Attention: 
Telephone: 
Facsimile:

VALEANT PHARMACEUTICALS INTERNATIONAL, INC.
as Borrower

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

VALEANT PHARMACEUTICALS INTERNATIONAL
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

ATON PHARMA, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

CORIA LABORATORIES, LTD.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

DOW PHARMACEUTICAL SCIENCES, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

VALEANT PHARMACEUTICALS NORTH AMERICA LLC
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

DR. LEWINN’S PRIVATE FORMULA INTERNATIONAL, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Chief Financial Officer

MEDICIS PHARMACEUTICAL CORPORATION
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President, Chief Financial Officer and Treasurer

OCEANSIDE PHARMACEUTICALS, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title: Chief Financial Officer and Treasurer

PRINCETON PHARMA HOLDINGS, LLC
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President and Chief Financial Officer

PRIVATE FORMULA CORP.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Chief Financial Officer and Treasurer

RENAUD SKIN CARE LABORATORIES, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Chief Financial Officer and Treasurer

VALEANT BIOMEDICALS, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Chief Financial Officer and Treasurer

BIOVAIL AMERICAS CORP.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Chief Financial Officer and Treasurer

PRESTWICK PHARMACEUTICALS, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Chief Financial Officer and Treasurer
    

ORAPHARMA, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President, Chief Financial Officer and Treasurer

ORAPHARMA TOPCO HOLDINGS, INC.
as Guarantor

By:        /s/ Howard B. Schiller            
Name:    Howard B. Schiller
Title:    Executive Vice President, Chief Financial Officer and Treasurer

OBAGI MEDICAL PRODUCTS, INC.

By:        /s/ Linda LaGorga            
Name:    Linda LaGorga
Title:     Treasurer

OMP, INC.

By:        /s/ Linda LaGorga            
Name:    Linda LaGorga
Title:     Treasurer 

VALEANT INTERNATIONAL BERMUDA
as Guarantor

By:        /s/ Peter J. McCurdy            
Name:    Peter J. McCurdy
Title:    President and Assistant Secretary

VALEANT PHARMACEUTICALS HOLDINGS BERMUDA
as Guarantor

By:        /s/ Peter J. McCurdy     
Name:    Peter J. McCurdy
Title:    President and Assistant Secretary

VALEANT PHARMACEUTICALS NOMINEE BERMUDA
as Guarantor

By:        /s/ Peter J. McCurdy            
Name:    Peter J. McCurdy
Title:    President and Assistant Secretary

VALEANT HOLDINGS (BARBADOS) SRL
as Guarantor

By:        /s/ Mauricio Zavala            
Name:    Mauricio Zavala
Title:    Manager and Assistant Secretary

HYTHE PROPERTY INCORPORATED
as Guarantor

By:        /s/ Mauricio Zavala            
Name:    Mauricio Zavala
Title:    Assistant Secretary

VALEANT PHARMACEUTICALS HOLDINGS (BARBADOS) SRL
as Guarantor

By:        /s/ Mauricio Zavala            
Name:    Mauricio Zavala
Title:    Manager and Assistant Secretary

VALEANT CANADA GP LIMITED
as Guarantor

By:        /s/ Robert R. Chai-Onn            
Name:    Robert R. Chai-Onn
Title:    Executive Vice President and General Counsel

VALEANT CANADA LP by its sole general partner, VALEANT CANADA GP LIMITED
as Guarantor

By:        /s/ Robert R. Chai-Onn            
Name:    Robert R. Chai-Onn
Title:    Executive Vice President and General Counsel

V-BAC HOLDING CORP.
as Guarantor

By:        /s/ Robert R. Chai-Onn            
Name:    Robert R. Chai-Onn
Title:    Vice President 

VALEANT PHARMACEUTICALS IRELAND
as Guarantor

By:        /s/ Graham Jackson            
Name:    Graham Jackson
Title:    Director

BIOVAIL INTERNATIONAL S.À R.L.
as Guarantor

By:        /s/ Bruce Goins                        
Name:    Bruce Goins
Title:    Manager

          

VALEANT PHARMACEUTICALS LUXEMBOURG S.À R.L.
as Guarantor

By:        /s/ Bruce Goins            
Name:    Bruce Goins
Title:    Manager

PHARMASWISS SA
as Guarantor

By:        /s/ Matthias Courvoisier            
Name:    Matthias Courvoisier
Title:    Director

	
			
	Signed by
	 
	 

	Valeant Holdco 2 Pty Ltd (ACN 154 341 367)
	 
	 

	as Guarantor
	 
	 

	in accordance with section 127 of the Corporations Act 2001 by two directors:
	 
	 

	 
	 
	 

	 
	 
	 

	/s/ Robert R. Chai-Onn
	 
	/s/ Howard B. Schiller

	Signature of director
	 
	Signature of director

	 
	 
	 

	Robert R. Chai-Onn
	 
	Howard B. Schiller

	 
	 
	 

	Name of director (please print)
	 
	Name of director (please print)

	
			
	Signed by
	 
	 

	Wirra Holdings Pty Limited (ACN 122 216 577)
	 
	 

	as Guarantor
	 
	 

	in accordance with section 127 of the Corporations Act 2001 by two directors:
	 
	 

	 
	 
	 

	 
	 
	 

	/s/ Robert R. Chai-Onn
	 
	/s/ Howard B. Schiller

	Signature of director
	 
	Signature of director

	 
	 
	 

	Robert R. Chai-Onn
	 
	Howard B. Schiller

	 
	 
	 

	Name of director (please print)
	 
	Name of director (please print)

	
			
	Signed by
	 
	 

	Wirra Operations Pty Limited (ACN 122 250 088)
	 
	 

	as Guarantor
	 
	 

	in accordance with section 127 of the Corporations Act 2001 by two directors:
	 
	 

	 
	 
	 

	 
	 
	 

	/s/ Robert R. Chai-Onn
	 
	/s/ Howard B. Schiller

	Signature of director
	 
	Signature of director

	 
	 
	 

	Robert R. Chai-Onn
	 
	Howard B. Schiller

	 
	 
	 

	Name of director (please print)
	 
	Name of director (please print)

	
			
	Signed by
	 
	 

	iNova Pharmaceuticals (Australia) Pty Limited (ACN 000 222 408)
	 
	 

	as Guarantor
	 
	 

	in accordance with section 127 of the Corporations Act 2001 by two directors:
	 
	 

	 
	 
	 

	 
	 
	 

	/s/ Robert R. Chai-Onn
	 
	/s/ Howard B. Schiller

	Signature of director
	 
	Signature of director

	 
	 
	 

	Robert R. Chai-Onn
	 
	Howard B. Schiller

	 
	 
	 

	Name of director (please print)
	 
	Name of director (please print)

	
			
	Signed by
	 
	 

	iNova Sub Pty Limited (ACN 134 398 815)
	 
	 

	as Guarantor
	 
	 

	in accordance with section 127 of the Corporations Act 2001 by two directors:
	 
	 

	 
	 
	 

	 
	 
	 

	/s/ Robert R. Chai-Onn
	 
	/s/ Howard B. Schiller

	Signature of director
	 
	Signature of director

	 
	 
	 

	Robert R. Chai-Onn
	 
	Howard B. Schiller

	 
	 
	 

	Name of director (please print)
	 
	Name of director (please print)

	
			
	Signed by
	 
	 

	Wirra IP Pty Limited (ACN 122 536 350)
	 
	 

	as Guarantor
	 
	 

	in accordance with section 127 of the Corporations Act 2001 by two directors:
	 
	 

	 
	 
	 

	 
	 
	 

	/s/ Robert R. Chai-Onn
	 
	/s/ Howard B. Schiller

	Signature of director
	 
	Signature of director

	 
	 
	 

	Robert R. Chai-Onn
	 
	Howard B. Schiller

	 
	 
	 

	Name of director (please print)
	 
	Name of director (please print)

Consented to by:

GOLDMAN SACHS LENDING PARTNERS LLC
As Administrative Agent and Collateral Agent

By:        /s/ Elizabeth Fischer            
Authorized Signatory

SCHEDULE A 
TO JOINDER AGREEMENT

	
			
	Name of Lender
	Type of Commitment
	Amount

	GOLDMAN SACHS LENDING PARTNERS LLC
	Series E Tranche B Term Loan Commitment
	$3,200,000,000

	 
	 
	Total:  $3,200,000,000Exhibit 10.2 - 2013 Annual Bonus Plan, Amended and Restated

2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

EXHIBIT 10.2
    

		
	I.
	Establishment and Purpose of the Plan

Boston Scientific Corporation has established the Boston Scientific Corporation Annual Bonus Plan ("Plan").    As explained in detail below, the Plan basically works as follows. For each Performance Year, there is an Aggregate Bonus Pool, which is the sum of the bonus targets of all eligible participants.  After the end of the Performance Year, the Committee determines the percentage of the pool that will be paid out as bonus for the year, based on the Company's performance as to Sales and Adjusted Earnings Per Share and its attainment of quality goals.  The percentage will be between 50% and 150%. The payable portion of the pool is then separated into an Assigned Bonus Pool for each Business Group, Region and Unit, based on their performance as to their respective Scorecards.  The Compensation Management System then allocates the Assigned Bonus Pools among the managers, who evaluate the performance of the participants under their management and determine, for each participant, the percentage (between 0% and 200%) of the participant's Target Annual Bonus that will be the participant's Bonus Award for the Performance Year.
The Plan's purpose is to align the Company's interests and your interests as a Plan participant by providing incentive compensation for the achievement of Company and individual performance objectives.  For covered employees, the Plan is established under section 4.a.(8) of the Boston Scientific Corporation 2011 Long-Term Incentive Plan and is intended to qualify for the performance-based compensation exception under Code section 162(m).
The capitalized words and terms that are used throughout the Plan are defined in the Glossary in Article IX.
		
	II.
	Eligibility and Participation

You are eligible to participate in the Plan for a Performance Year if you satisfy all of the following eligibility criteria:
		
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	You are either a Regular Exempt Employee or an Eligible International Employee;

		
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	You are not eligible for commissions under any sales compensation plan of the Company;

		
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	You are not eligible to participate in any other incentive plan or program of the Company (unless the written terms of that plan or program expressly permit participation in both that plan or program and the Plan); and

		
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	You complete at least two full months of Eligible Service during the Performance Year.  

If you are eligible to participate in the Plan for only part of the Performance Year (for example, because you change positions or business units during the Performance Year), then you may participate in the Plan on a prorated basis for the Performance Year, provided that you complete at least two full months of Eligible Service during the Performance Year (and, if you are an executive officer covered by Code section 162(m), your participation in the Plan for the Performance Year would not be inconsistent with Code section 162(m)).  If you are eligible for prorated participation, the Bonus Award, if any, otherwise payable to you for the Performance Year will be prorated based on your percentage of time in an eligible position during the Performance Year.
        
		
	III.
	Target Annual Bonus

For each Performance Year in which you are eligible to participate, you will be assigned a Target Annual Bonus, which will be a specified percentage of your annual base salary, determined based on your position.  The Bonus Award, if any, that you ultimately receive for the Performance Year will be a 

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2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

percentage of your Target Annual Bonus, determined pursuant to Article IV. The Aggregate Bonus Pool for a Performance Year will be the sum of the Target Annual Bonuses of all employees who are eligible to participate in the Plan for the Performance Year.
		
	IV.
	Steps For Determining Bonus Awards

Bonus Awards for a Performance Year will be determined pursuant to the following steps:
Step One: Establish performance goals, quality goals and the Corporate Performance Scale
On or before March 31 of a Performance Year, the Committee will establish performance goals for each of the Plan's Performance Metrics and quality goals for the Performance Year.  The Performance Metrics are Sales and Adjusted Earnings Per Share.  The Committee will also establish the Corporate Performance Scale for the Performance Year, which will be set forth in a separate schedule.    
Step Two:  Measure achievement and determine Total Annual Bonus 
After the end of the Performance Year, the Committee will evaluate the Company's financial performance results for the Performance Year and determine the extent to which the performance goals were attained.  The Committee will adopt a written resolution as to the extent of the attainment of the performance goals with respect to each of the Performance Metrics.  Based on the extent to which the performance goals were attained, the Chief Executive Officer will make a recommendation to the Committee, consistent with the Corporate Performance Scale, as to the Applicable Percentage of the Aggregate Bonus Pool to be paid by the Company as the Total Annual Bonus for the Performance Year.  Taking into account the Chief Executive Officer's recommendation and any other factors that the Committee, in its discretion, deems appropriate, the Committee will approve an Applicable Percentage for the Performance Year, which must be consistent with the Corporate Performance Scale.  The Committee retains the right to reduce the Total Annual Bonus for the Performance Year based on the Committee's Quality Assessment.  In no event, however, will the Total Annual Bonus be less than 50% of the Annual Bonus Pool for the Performance Year.      
Step Three: Allocate the Total Annual Bonus
The Chief Executive Officer will make a recommendation to the Committee as to how the Total Annual Bonus for the Performance Year should be allocated among the Business Groups and Regions, based on their overall and relative performance against their respective applicable Scorecards for the Performance Year.  Taking into account the Chief Executive Officer's recommendation and any other factors that the Committee, in its discretion, deems appropriate, the Committee will approve an allocation of the Total Annual Bonus among the Business Groups and Regions for the Performance Year.  The portion of the Total Annual Bonus allocated to a Business Group or Region (its Assigned Bonus Pool) will be a percentage of the total Target Annual Bonuses of all its employees who participate in the Plan for the Performance Year.  If a Business Group or Region has Units, the leader of the Business Group or Region will divide the Assigned Bonus Pool among the Units, based on their overall and relative performance against each Unit's applicable Scorecard for the Performance Year, so that each Unit will then have its own Assigned Bonus Pool.  A Business Group or Region that does not have Units (for example, Corporate) will have a single Assigned Bonus Pool.  

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2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

Step Four: Determine participants' individual Bonus Awards
Once the Assigned Bonus Pool is determined for each Business Group, Region, or Unit, the amount of the Assigned Bonus Pool will be entered into the Compensation Management System, which allocates a portion of the Assigned Bonus Pool to each manager of Plan participants.  Each manager will evaluate the performance of each participant under his or her management and enter into the Compensation Management System a rating percentage, from 0% to 200%, for each evaluated participant.  The rating percentage that your manager assigns to you will, in turn, determine the percentage of your Target Annual Bonus that will be your Bonus Award for the Performance Year.
If participants leave the Company before the Payment Date and, as a result, do not earn their Bonus Awards for the Performance Year, their Bonus Awards will be reallocated by the Chief Executive Officer, in his or her discretion, to other participants who are employed on the Payment Date and will become part of the Bonus Awards paid to those other participants.  As provided in Article V, all Bonus Awards for a Performance Year (including those reallocated pursuant to the previous sentence) will be paid to eligible participants no later than March 15 of the following year.
Special Rules with Respect to Executive Officers
Notwithstanding any other provision of the Plan, the Committee retains sole and complete discretion to determine the eligibility of, and any Bonus Award payable to, each executive officer covered by Code section 162(m). The maximum Bonus Award payable with respect to a Performance Year to an executive officer covered by Code section 162(m) is $3,250,000.
		
	V.
	Payment Conditions

Payment Date and Form of Payment. Bonus Awards in the United States will be made by March 15 of the year following the Performance Year for which the Bonus Awards are made. Bonus Awards outside the United States will be processed as soon as administratively possible in each region following the end of the Performance Year and after the Committee has adopted its written resolution as to the attainment of performance goals pursuant to Article IV.  Your Bonus Award, if any, will be paid in a single lump sum payment.
Required Employment on the Payment Date.  Except as otherwise expressly provided in this Article V, to be eligible to receive payment of any Bonus Award, you must be employed by the Company on the Payment Date for that Bonus Award.  In other words, except as expressly provided in this Article V, if you cease employment with Boston Scientific Corporation and all of its Affiliates before the Payment Date, you will not be eligible to receive any Bonus Award that would otherwise have been payable to you if you had been a Company employee on that date.  Conversely, if you are an employee of the Company on the Payment Date, you will be entitled to your Bonus Award, if any, even if you are not actively performing duties on that date.  For example, if you are not required to report to work during a notification period applicable under a Company severance or separation plan, but you are still a Company employee during that period, and the Payment Date occurs during your notification period, you will remain eligible to receive your Bonus Award.  
Exception Under Written Company Plan or Agreement.  If you are specifically exempted, under a written Company plan or agreement, from the requirement to be employed on the Payment Date, you may remain eligible for payment of your Bonus Award, depending on the terms of the applicable written plan or agreement.  In such cases, the terms of such written plan or agreement will govern in all respects.      
Layoff.  Also notwithstanding any other provision of the Plan, if you are a participant and your employment ceases prior to the Payment Date by reason of Layoff, you may be eligible for payment of part or all of your Bonus Award, depending on the terms and conditions of the applicable severance pay plan, if any, for the country in which you are employed at the time of layoff. In the event that there is no country-specific severance plan for the country in which you are employed at the time of your Layoff, applicable law will apply.  

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2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

Retirement. Also notwithstanding any other provision of the Plan, if you are a participant and your employment ceases prior to the Payment Date for a Bonus Award but after September 30 of the Performance Year to which the Bonus Award pertains, and you had at least nine months of Eligible Service in the Performance Year, you will be entitled to a prorated portion of the Bonus Award, if any, that would otherwise be paid you if, as of the date of your cessation of employment, (1) you had attained age 55, (2) you had accrued at least five years of service with the Company and (3) the sum of your age and years of service as of your date of cessation of employment equals or exceeds 65.  In such a case, proration will be based on the percentage of time in the Performance Year during which you were employed and eligible to participate in the Plan.  The prorated Bonus Award, if any, will be paid on the Payment Date.
Death.  If your employment ceases prior to the Payment Date by reason of your death, but you otherwise met all eligibility criteria specified in Article II, your estate may receive a prorated portion of the Bonus Award, if any, that would have been paid had you lived to the Payment Date.  In such a case, proration will be based on the percentage of time in the Performance Year during which you were employed and eligible to participate in the Plan.  The prorated Bonus Award, if any, will be paid on the Payment Date.
Adjustment for Changes in Standard Hours.  Also notwithstanding any other provision of the Plan, if you are a participant and have a change in standard hours (part-time to full-time, full-time to part-time) during a Performance Year, your Bonus Award, if any, for the Performance Year will be based on the full-time equivalent Target Annual Bonus and your average annualized base salary for the Performance Year.  Except as provided in the preceding sentence, all Bonus Awards will be based on your salary and incentive target as of December 31 of the Performance Year.  
No Guarantee of a Bonus Award.  Nothing in this Plan guarantees that any Bonus Award will be made to any individual.  Receipt of a Bonus Award in one year does not guarantee eligibility in any future year.
		
	VI.
	Incentive Compensation Recoupment Policy

General Recoupment Policy.  To the extent permitted by governing law, the Board, in its discretion, may seek reimbursement of a Bonus Award paid to you if you are a Current Executive Officer or Former Executive Officer and you, in the judgment of the Board, commit misconduct or a gross dereliction of duty that results in a material violation of Company policy and causes significant harm to the Company while serving in your capacity as Executive Officer.  Further, in such case:
		
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	if you are a Current Executive Officer, the Board may seek reimbursement of all or a portion of the Bonus Award paid to you during the one-year period preceding the date on which such misconduct or dereliction of duty was discovered by the Company, or

		
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	if you are a Former Executive Officer, the Board may seek reimbursement of all or a portion of the  Bonus Award paid to you during the one-year period preceding the last date on which you were a Current Executive Officer.

Restatement of Financial Results.  To the extent permitted by governing law, if you are an Executive Officer, the Board will seek reimbursement of a Bonus Award paid to you in the event of a restatement of the Company's financial results that reduced a previously granted Bonus Award's size or payment.  In that event, the Board will seek to recover the amount of the Bonus Award paid to you that exceeded the amount that would have been paid based on the restated financial results.

Provisions Required by Law.  If the Company subsequently determines that it is required by law to apply a "clawback" or alternate recoupment provision to a Bonus Award, under the Dodd-Frank Wall Street Reform and Consumer Protection Act or otherwise, then such clawback or recoupment provision also shall apply to the Bonus Award, as applicable, as if it had been included on the date the Plan was established and the Company shall notify you of such additional provision.

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2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

		
	VII.
	Termination, Suspension or Modification and Interpretation of the Plan

The Board may terminate, suspend or modify (and if suspended, may reinstate with or without modification) all or part of the Plan at any time, with or without notice to participants.  The Committee has sole authority over administration and interpretation of the Plan, and the Committee retains its right to exercise discretion as it sees fit. 
The Committee reserves the exclusive right to determine eligibility to participate in this Plan and to interpret all applicable terms and conditions, including eligibility criteria, performance objectives and payment conditions, for the Company's executive officers.  The Committee delegates to the Company's highest human resources officer the authority to administer, and determine eligibility to participate in, the Plan and interpret all applicable terms and conditions for employees who are not executive officers of the Company.  The determinations and interpretations of the Committee and its delegates will be conclusive.
All Bonus Awards are paid from the Company's general assets.  No trust, account or other separate collection of amounts will be established for the payment of Bonus Awards under the Plan.  Bonus Awards are unfunded obligations of the Company, so if and when a Bonus Award becomes due, a participant's rights to payment are no greater than the rights of a general unsecured creditor.  
		
	VIII.
	Other

This document sets forth the terms of the Plan and is not intended to be a contract or employment agreement between you or any other participant and the Company.  As applicable, it is understood that both you and the Company have the right to terminate your employment with the Company at any time, with or without cause and with or without notice, in acknowledgement of the fact that your employment relationship with the Company is “at will.”
		
	IX.
	Glossary

As used in the Plan, the following words and terms, when capitalized, have the following meanings:
Adjusted Earnings Per Share means, with respect to a Performance Year, Adjusted Net Income divided by weighted average shares outstanding for the Performance Year (determined in accordance with generally accepted accounting principles).
Adjusted Net Income means the Company's GAAP Net Income (as defined for purposes of the Boston Scientific Corporation 2011 Long-Term Incentive Plan) excluding goodwill and intangible asset impairments, acquisition, divestiture, and purchased research and development charges, restructuring expenses, certain tax-related items, and certain litigation and amortization expenses.
Affiliate means any corporation, trust, partnership, or any other entity that is considered to be a single employer with Boston Scientific Corporation under Code sections 414(b), (c), (m), or (o), such as a wholly-owned (or at least 80%-owned) subsidiary of Boston Scientific Corporation.
Aggregate Bonus Pool means, with respect to a Performance Year, the sum of the Target Annual Bonuses of all employees who are eligible to participate in the Plan for the Performance Year.
Applicable Percentage means, with respect to a Performance Year, a percentage, determined by the Committee in accordance with the Corporate Performance Scale, which cannot be less than 50% or more than 150%.  The Applicable Percentage is used to determine the portion of the Aggregate Bonus Pool that the Company will pay out as the Total Annual Bonus for the Performance Year.
Assigned Bonus Pool means, with respect to a Business Group, Region, or Unit for a Performance Year, the portion of the Total Annual Bonus assigned to the Business Group, Region, or Unit to be paid as Bonus Awards for the Performance Year to eligible participants who worked for the Business Group, Region, or Unit during the Performance Year.
Board means the Board of Directors of Boston Scientific Corporation.

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2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

Bonus Award means, with respect to a participant for a Performance Year, the annual incentive bonus, if any, payable to the participant for the Performance Year, subject to the terms and conditions of the Plan.
Business Group means a functional or product-based area of the Company's business, as designated by the Chief Executive Officer from time to time. 
Chief Executive Officer means the Chief Executive Officer of Boston Scientific Corporation.
Code means the Internal Revenue Code of 1986, as amended, and its interpretive rules and regulations.
Committee means the Executive Compensation and Human Resources Committee of the Board.
Company means Boston Scientific Corporation and its Affiliates.
Compensation Management System means the software tool used by the Company for various compensation management purposes.
Corporate Performance Scale means, with respect to a Performance Year, the schedule used to determine, based on the extent of attainment of the performance goals for the Performance Year, the Applicable Percentage of the Aggregate Bonus Pool to be paid as the Total Annual Bonus for the Performance Year.  The Corporate Performance Scale must provide that the Applicable Percentage for a Performance Year cannot be less than 50%.
Current Executive Officer means any individual currently designated as an “officer” by the Board for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.
Eligible International Employee means an international, international operations, or expatriate employee of the Company working in a position designated by the Company as eligible to participate in the Plan.
Eligible Service means periods in which you are considered, under the rules and procedures of the Company, to be in active service as a Regular Exempt Employee or Eligible International Employee (including, but not limited to, time away from work for approved vacation, recognized holidays, and FMLA leave).
Executive Officer means any Current Executive Officer or Former Executive Officer.
Former Executive Officer means any individual previously (but not currently) designated as an “officer” by the Board for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.
Layoff means a layoff or similar involuntary termination from employment that renders you eligible for severance pay under a Company severance plan or applicable law.
Payment Date means, with respect to a Performance Year, the date on which Bonus Awards for the Performance Year are paid to participants, which will be no later than March 15 of the following year.
Performance Metrics means Sales and Adjusted Earnings Per Share.
Performance Year means the 12-month period beginning on January 1 and ending on the following December 31. 
Plan means the Boston Scientific Annual Bonus Plan, which is set forth in this document, as it may be amended from time to time.
Quality Assessment means the process undertaken by the Committee following the end of each Performance Year, to evaluate the Company's progress made toward achievement of its quality objectives and the performance of the Company-wide quality system.
Region means a geographic region, as designated by the Chief Executive Officer from time to time, comprising a portion of the Company's international business.  

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2013 Boston Scientific Annual Bonus Plan 
Performance Period January 1 - December 31
July  2013

Regular Exempt Employee means an employee of the Company who is on the Company's United States payroll and (1) classified by the Company as a regular full-time or regular part-time Employee; (2) performs a job that the Company has determined to be exempt from the minimum wage and overtime requirements of the Fair Labor Standards Act of 1938, as amended (FLSA); and (3) is not any of the following:
		
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	classified by the Company as an intern, summer student, co-op employee, or similar short-term employee; or

		
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	classified by the Company as a consultant, temporary or defined-term employee (such as temporary fellowship program employees), or similar category of limited-term employment, regardless of their work schedule or number of hours worked.

Sales means "BSC Global Sales" as that term is defined for purposes of the Boston Scientific Corporation 2011 Long-Term Incentive Plan, which measures sales using constant currency rates.
Scorecard means, with respect to a Performance Year, the tool used to establish performance measures and objectives with respect to a Business Group, Region, or Unit for the Performance Year. 
Target Annual Bonus has the meaning given to that term in Article III.
Total Annual Bonus represents, with respect to a Performance Year, the total dollars to be paid out by the Company to all participating employees as Bonus Awards for the Performance Year.
Unit means a business unit of Business Group or Region, such as a plant or division (for a Business Group) or a country or group of countries (for a Region); the Units of a Business Group or Region may change from time to time.

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