Document:

EX-10.6

 Exhibit 10.6 

 

							
		 	 AGREEMENT AND DEED OF PLEDGE OF SHARES
  

BAUSCH & LOMB B.V
	  	   

 
  
  
  

 
	RL/6008799/10398627.ple  

(RL/6008799/10409796.ple
  

18-05-2012
  

6
	    
 ) 
  

  
  
   

 Today, the eighteenth of May two thousand and twelve, 

appeared before me, David Jaime Santana Meijeren, prospective civil-law notary (kandidaat-notaris), acting as legal substitute
(waarnemer) for Paul Hubertus Nicolaas Quist, civil-law notary in Amsterdam, in such capacity hereinafter referred to as “civil-law notary”: 
 Robertus Petrus Hubertus Wilhelmus Londeman, care of Stibbe, 1077 ZZ Amsterdam, Strawinskylaan 2001, born in Geldrop on the twenty-seventh of October nineteen hundred and eighty-three, in the present
matter acting as holder of a written power of attorney of: 
  

	 	1.	the company incorporated and existing under the laws of New York Bausch & Lomb International Inc., with its principal place of business at One
Bausch & Lomb Place, Rochester, New York 14604, in the present matter acting: 

  

	 	(i)	for itself; and 

  

	 	(ii)	in its capacity as general partner and for the account and risk of: 

 the limited partnership (commanditaire vennootschap) Bausch & Lomb Dutch Holdings C.V., having its address at One Bausch & Lomb Place, Rochester, New York 14604

 (the ‘Pledgor’); 
  

	 	2.	the company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) Bausch & Lomb B.V., having its seat in Haarlemmermeer,
its address at 1119 NH Schiphol-Rijk, Koolhovenlaan 110 and filed at the Trade Register under number 34034628 

(the ‘Company’); 
  

	 	3.	CITIBANK N.A., a national banking association organized under the laws of the United States of America with an office located at 1615 Brett Road, Building III,
New Castle, Delaware 19720, United States of America, in the present matter acting: 

  

	 	(i)	as the Administrative Agent under the Credit Agreement (as defined below), on behalf of itself as Lender (as defined in the Credit Agreement) and also for the Lenders
(as defined in the Credit Agreement); and 

  

	 	(ii)	as the Administrative Agent under the Parallel Debt (as defined below) 

 (the ‘Pledgee’). 
 Powers of attorney 

 

	./.	The powers of attorney are evidenced by three (3) private deeds, which will be attached to this deed. 

  
 (1)

 The appearing person declared: 

 

	 	A.	on the eighteenth of May two thousand and twelve, amongst others the Company as Dutch Subsidiary Borrower (as defined in the Credit Agreement) and the Pledgee as
Administrative Agent (as defined in the Credit Agreement) entered into a two billion eight hundred and thirty-five million United States dollars (USD 2,835,000,000) and four hundred and sixty million euros (EUR 460,000,000) Credit Agreement (as
defined below); 

  

	 	B.	as a security for the Secured Obligations (as defined below), the Pledgor and the Pledgee hereby agree that the Pledgor shall grant a valid first priority right of
disclosed pledge (eerste pandrecht) to the Pledgee on the Shares and the Dividends (both as defined below). 

It is hereby agreed as follows: 
  

	 	1.	Definitions and interpretation 

  

	 	1.1.	All capitalised terms used in this agreement and deed of disclosed pledge of shares (the ‘Agreement’) including the recitals, and not otherwise defined
herein shall have the meaning assigned to them in the Credit Agreement. 

  

							
		 	1.2.	 	a.	 	Headings are for convenience of reference only.

  

	 	b.	Where the context so permits, the singular includes the plural and vice versa. 

 

	 	c.	Save where the contrary is indicated, any reference in this Agreement to the parties or a party to this Agreement shall be construed so as to include its or their
respective successors, transferees and assigns from time to time and any successor of such a successor, transferee or assign in accordance with their respective interests. 

 

	 	d.	A ‘section’ and a ‘sub section’ shall, subject to any indication to the contrary, be construed as a reference to a section and sub section hereof.

  

	 	e.	References to the Credit Agreement, the Collateral Documents (as defined below), this Agreement (as defined above) or any other agreement or document shall, where
applicable, be deemed to be references to the Credit Agreement, the Collateral Documents, this Agreement or any other agreement or document as the same may have been, or may from time to time be, extended, prolonged, amended, restated, supplemented,
renewed or novated, as persons may accede thereto as a party or withdraw there from as a party in part or in whole or be released there under in part or in whole, and as facilities and financial services are or may from time to time be granted,
extended, prolonged, increased, reduced, cancelled, withdrawn, amended, restated, supplemented, renewed or novated there under. 

  
 (2)

	 	f.	Unless a contrary indication appears, section 1.02 (Other Interpretive Provisions) of the Credit Agreement is incorporated by reference in this Agreement.

  

	 	g.	References to the Dutch Civil Code are references to het Burgerlijk Wetboek, references to the Dutch Bankruptcy Act are references to de
Faillissementswet. 

  

	 	1.3.	In this Agreement the following words and expressions shall have the following meaning: 

 

	 	•	 	 ‘Collateral’ means (i) the Shares and (ii) the Dividends; 

 

	 	•	 	 ‘Collateral Document’ has the meaning ascribed thereto in section 1.1 (Definitions) of the Credit Agreement;

  

					
	./.	 	  •	 	‘Company Default Notice’ means the notification of a default, substantially in the form of Annex 1 hereto;

  

	 	•	 	 ‘Credit Agreement’ means the two billion eight hundred and thirty-five million United States dollars (USD 2,835,000,000) and four
hundred and sixty million euros (EUR 460,000,000) credit agreement entered into, amongst others, the Company as Dutch Subsidiary Borrower and the Pledgee as Administrative Agent; 

 

	 	•	 	 ‘Dividends’ means, in relation to any Share, all present and future: 

 

	 	a.	dividends and distributions of any kind and any other sum received or receivable in respect of that Share; 

 

	 	b.	rights, shares, money or other assets accruing or offered by way of redemption, bonus, option or otherwise in respect of that Share; 

 

	 	c.	allotments, offers and rights accruing or offered in respect of that Share; and 

 

	 	d.	other rights and assets attaching to, deriving from or exercisable by virtue of the ownership of, that Share and which is capable of being pledged,

 but excluding such Share and its Voting Right; 

 

	 	•	 	 ‘Event of Default’ has the meaning ascribed thereto in section 8.01 of the Credit Agreement; 

 

	 	•	 	 ‘Future Dividends’ means any and all Dividends in respect of Future Shares; 

 

	 	•	 	 ‘Future Shares’ means: 

  

	 	a.	any and all issued shares in the capital of the Company which the Pledgor may hold at any time; 

  
 (3)

	 	b.	all warrants, options and other rights to subscribe for, purchase or otherwise acquire a share in the capital of the Company 

which may be issued to or acquired by the Pledgor after the date of this Agreement and provided that these Future Shares will never
exceed sixty five percent (65%) of the issued voting capital of the Company which the Pledgor may hold at any time; 
  

	 	•	 	 ‘Loan Document’ has the meaning ascribed thereto in section 1.01 (Definitions) of the Credit Agreement; 

 

	 	•	 	 ‘Parallel Debt’ has the meaning ascribed to Dutch Parallel Debt in section 10.26 (Parallel Debt) of the Credit Agreement;

  

	 	•	 	 ‘Pledge’ means the right of pledge as created in section 2.2; 

 

	 	•	 	 ‘Present Shares’ means sixty-five percent (65%) of all of the voting registered and paid-up shares in the capital of the Company
being six hundred fifty (650) ordinary shares, each according to the current articles of association of the Company with a par value of four hundred fifty-four euro (EUR 454.-), numbered 1 to 650 inclusive; 

 

	 	•	 	 ‘Secured Obligations’ means all present and future moneys, debts and liabilities due, owing or incurred by Bausch & Lomb
Dutch Holdings C.V. to the Pledgee pro se under or in connection with any Loan Document (in each case, whether alone or jointly and severally, with any other person, whether actually or contingently and whether as principal, surety or
otherwise including, without limitation, pursuant to section 10.26 (Parallel Debt) of the Credit Agreement) and any section having the same effect in any other Loan Document to which the Company is a party including, for the avoidance of doubt, any
change or increase in any Borrower’s Parallel Debt pursuant to or in connection with any amendment or supplement to the Loan Document or this Pledge or any restatement or novation of the Loan Document, whether or not anticipated as of the date
of this Agreement; 

  

	 	•	 	 ‘Security’ means all or any of the security rights (zekerheidsrechten), including the right of Pledge;

  

	 	•	 	 ‘Security Period’ means the period beginning on the date hereof and ending on the earlier date upon which the Secured Obligations have
been irrevocably paid and discharged, or have ceased to exist or all Security has been released and discharged by the Pledgee in accordance with section 8 (Termination) below; 

 

	 	•	 	 ‘Shares’ means the Present Shares and the Future Shares; and 

 

	 	•	 	 ‘Voting Rights’ means all voting rights attached to the Shares held by the Pledgor, from time to time. 

  
 (4)

	 	2.	Pledge of the Shares and the other Collateral 

  

	 	2.1.	The Pledgor hereby agrees with the Pledgee and hereby undertakes that it shall grant to the Pledgee the rights of pledge purported to be granted under and pursuant to
this Agreement. 

  

	 	2.2.	As security for the payment and discharge in full, when due (whether at stated maturity, by acceleration or otherwise), of the Secured Obligations, the Pledgor hereby
grants, for the duration of the Security Period, to the Pledgee: 

  

	 	(i)	a first ranking disclosed right of pledge (openbaar pandrecht eerste in rang), over the Present Shares; 

 

	 	(ii)	a first ranking disclosed right of pledge (openbaar pandrecht eerste in rang) in accordance with section 3:236 Dutch Civil Code over sixty-five percent
(65%) of all present warrants, options and other rights to subscribe for, purchase or otherwise acquire a share in the capital of the Company (provided that upon exercising these rights, and including the shares received upon exercise of these
rights, the total Shares pledged to the Pledgee will never exceed sixty-five percent (65%) of all of the issued voting capital of the Company which the Pledgor may hold at any time) 

 

	 	(iii)	in advance (bij voorbaat) a first ranking right of disclosed pledge (openbaar pandrecht eerste in rang), over the Future Shares (provided that the total
Shares pledged to the Pledgee will never exceed sixty-five percent (65%) of all of the issued voting capital of the Company which the Pledgor may hold at any time); 

 

	 	(iv)	a first ranking disclosed right of pledge (openbaar pandrecht eerste in rang), over all Dividends with respect to the Present Shares, in accordance with section
3:236 Dutch Civil Code; and 

  

	 	(v)	in advance (bij voorbaat) a first ranking right of pledge over the Future Dividends in accordance with section 3:236 Dutch Civil Code 

and the Pledgee hereby accepts such rights of pledge. 
 To the extent no valid right of pledge over the Future Shares is created under this section 2 (Pledge of the Shares and the other Collateral), the Pledgor irrevocably and unconditionally undertakes upon
request by the Pledgee to pledge under the same terms and conditions as set forth in this Agreement to the Pledgee the Future Shares (provided that the total Shares pledged to the Pledgee will never exceed sixty-five percent (65%) of all of the
issued voting capital of the Company which the Pledgor may hold at any time) as soon as reasonably practicable after the Pledgor has acquired such Future Shares. 

  
 (5)

	 	2.3.	If, and to the extent at any time it appears that, the right of pledge created under this Agreement is not or will not be first priority ranking (eerste in
rang), the Pledgor and the Pledgee agree that valid rights of pledge have or shall nevertheless have been created with the highest possible ranking as shall then be possible (taking into consideration any Liens permitted under section 7.01 of
the Credit Agreement), such without prejudice to any rights of the Pledgee under any Loan Document. 

  

	 	2.4.	If any of the Shares are changed, classified or reclassified, subdivided, consolidated or converted through (statutory) merger or otherwise, or the rights attaching to
the Shares are altered in any way, the shares or other securities resulting from such event and related Dividends are hereby pledged and shall automatically become subject to the right of pledge (pandrecht) hereby created.

 Where that is not legally possible, the Pledgor shall cooperate with the execution of one or more pledge
agreements in form and substance satisfactory to the Pledgee in respect of such Shares or other securities or Dividends immediately upon written request of the Pledgee, acting reasonably. 

Nothing in this section 2.4, however, should be construed as to imply or contain the consent of the Pledgee to change the Shares as set
out in the first sentence of this section 2.4. 
  

	 	2.5.	Each Security is one and indivisible (één en ondeelbaar). 

 

	 	2.6.	Partial fulfillment of any Secured Obligations shall not extinguish the Security proportionally and, subject to section 8 (Termination), the Security is continuing
security and will extend to the ultimate balance of the Secured Obligations, regardless of any intermediate payment or discharge in whole or in part. 

  

	 	2.7.	The Security includes all accessory rights (afhankelijke rechten) and all ancillary rights (nevenrechten) attached to the Collateral.

  

	 	3.	Rights in respect of the Collateral 

  

	 	3.1.	The Voting Rights are hereby vested in the Pledgee subject to the condition precedent (opschortende voorwaarde) of the occurrence of an Event of Default and the
sending of the Company Default Notice. 

 Until fulfillment of the condition precedent and the sending of the
Company Default Notice, the Pledgor may exercise the Voting Rights, where: 
  

	 	(i)	it does so for a purpose not inconsistent with any Loan Document; and 

  
 (6)

	 	(ii)	the exercise or failure to exercise the rights would not have an adverse impact on the value of the Shares and would not otherwise prejudice the validity,
enforceability or priority of the Security or any right of the Pledgee in connection with this Pledge. 

  

	 	3.2.	Until fulfillment of the condition precedent in section 3.1 and the sending of the Company Default Notice (i) the Pledgee shall not have the rights which are
granted to the holders of depositary receipts issued for shares with the cooperation of a company and (ii) the Pledgor shall be entitled to receive, retain and utilize any and all Dividends. 

 

	 	4.	Rights following the occurrence of an Event of Default 

  

	 	4.1.	Upon fulfillment of the condition precedent in section 3.1 and the sending of the Company Default Notice: 

 

	 	(i)	the Pledgee shall be fully entitled, to the exclusion of the Pledgor, to exercise the Voting Rights; 

 

	 	(ii)	all rights of the Pledgor to receive Dividends shall automatically assign to the Pledgee, and thereupon the Pledgee shall have the sole right to receive and hold as
collateral, subject to the terms hereof, such Dividends and such Dividends must be paid directly to the Pledgee or as it may direct; and 

  

	 	(iii)	the Pledgee shall be entitled to collect any repayment on the Shares (terugbetaling op aandelen) and all liquidation proceeds, if any, which are to be
distributed in respect of the Shares upon dissolution and liquidation of the Company or otherwise. 

  

	 	4.2.	The Company confirms (and the other parties to this Agreement agree) that receipt of the Company Default Notice shall be sufficient for the Company to accept the
Pledgee as being exclusively entitled to such rights (expressly including the Dividends and the Voting Rights) and other powers which it is entitled to exercise pursuant to this Agreement and the Company will make payments of Dividends in accordance
with the instructions of the Pledgee. 

  

	 	4.3.	All payments which are received by the Pledgor contrary to the provisions of this section 4 shall be received as custodian (bewaarnemer) (or, if possible under
applicable law, on trust) on behalf of and for the benefit of the Pledgee, and shall, pending payment or transfer to the Pledgee, be segregated from the other assets of the Pledgor and shall be immediately paid over or delivered (with any necessary
endorsements) to the Pledgee or its authorized designee or as the Pledgee may otherwise direct as collateral in the exact form as received, to be held by the Pledgee as collateral. 

  
 (7)

 This is without prejudice to any right the Pledgee may have against the person who made the
payment. 
 If, notwithstanding the above, the Pledgor exercises any right of defense, suspension, retention, set off or counter
claim in respect of any amount, it shall forthwith pay an amount equal to such amount to the Pledgee. 
  

	 	5.	Representations and warranties 

  

	 	5.1.	The Pledgor represents and warrants and is deemed to repeat during the Security Period with respect to the Shares it holds that the following is true and correct on the
date of this Agreement in relation to its Present Shares and in relation to any Future Shares each time such Future Shares will be pledged to the Pledgee, with reference to the facts and circumstances then existing: 

 

	 	(i)	each Share purported to exist is duly authorized, validly issued and fully paid-up; 

 

	 	(ii)	each Share purported to exist is freely transferable, and in particular, it is not subject to any restriction (including the discretion of managing directors or third
parties) preventing the Pledgor from transferring or pledging the Shares (except, as otherwise provided herein), except to the extent that the Shares are subject to any statutory transfer restriction or any other statutory rights that shareholders
may have under the articles of association of the Company as they will read from time to time and the laws of the Netherlands; 

  

	 	(iii)	the Collateral is free and clear of any security, lien, charge, encumbrance with any restricted rights (beperkte rechten), attachment (beslag), or any
other right or security interest whatsoever, other than those created under this Agreement and any encumbrances permitted under the Credit Agreement; 

  

	 	(iv)	the Present Shares were acquired as follows: 

  

	 	•	 	 the Pledgor acquired the legal and beneficial ownership of the Present Shares on behalf of itself by deed of transfer, executed on the twenty-ninth day
of November two thousand and four before M.Y.H.J. den Boer, civil-law notary in Amsterdam; 

  

	 	•	 	 the Pledgor acting in its capacity as referred to in 1.(i) contributed by a private deed of contribution, dated the eighteenth day of October two
thousand and seven, the beneficial ownership of the Present Shares to the limited partnership (commanditaire vennootschap) Bausch & Lomb Dutch Holdings C.V., as a consequence whereof the Pledgor holds the beneficial ownership of the
Present Shares as per the eighteenth day of October two thousand and seven in its capacity as referred to under 1. (ii); and 

  
 (8)

	 	(v)	no depositary receipts (certificaten van aandelen) have been issued for the Present Shares. 

 

	 	(vi)	the Pledgor has the power (beschikkingsbevoegdheid) to create the Pledge. 

 

	 	(vii)	the Company’s works council has given what is known as a “positive advice” with respect to the creation of the Pledge and the conditional transfer of the
Voting Rights. No person has any right (whether present or future, actual or contingent): a) to acquire from the Pledgor or the Company any share in the capital of the Company (including any Share); or b) to receive from the Company any dividend or
other distribution from, or any payment calculated on the basis of, the Company’s profits or equity (or any part thereof); other than: 1) rights of pre-emption, and 2) rights to receive dividends and other distributions; attaching to shares in
the Company’s capital by law or as set out in the Company’s articles of association. 

  

	 	5.2.	The Company represents and warrants that the following is true and correct on the date of this Agreement in relation to the Present Shares and in relation to any Future
Shares each time such Future Shares will be pledged to the Pledgee, with reference to the facts and circumstances then existing: 

  

	 	(i)	each Share purported to exist is duly authorized, validly issued and fully paid-up; 

 

	 	(ii)	each Share purported to exist is freely transferable, and in particular, it is not subject to any restriction (including the discretion of managing directors or third
parties) preventing the Pledgor from transferring or pledging the Shares (except, as otherwise provided herein), except to the extent that the Shares are subject to any statutory transfer restriction or any other statutory rights that shareholders
may have under the laws of the Netherlands; 

  

	 	(iii)	no depositary receipts (certificaten van aandelen) have been issued for the Shares. 

 

	 	(iv)	as of the date of this Pledge, no Dividend has been declared which has not been paid or otherwise satisfied in full. 

 

	 	(v)	the Company is not (other than under the Loan Document) prevented from or restricted in declaring and paying to its shareholders (by way of dividend or any other
distribution) an amount equal to the full amount of its profits and reserves. 

  
 (9)

	 	6.	Undertakings 

  

	 	6.1.	Except to the extent permitted pursuant to the Credit Agreement, the Pledgor shall not during the Security Period without the prior written consent of the Pledgee:

  

	 	(i)	waive any accessory rights (afhankelijke rechten) or ancillary rights (nevenrechten) attached to the Collateral; 

 

	 	(ii)	transfer or further pledge or otherwise encumber any of the Shares; and 

  

	 	(iii)	do, or permit to be done, in general anything which would, or would be likely to, prejudice the validity, enforceability or priority of the Security.

  

	 	6.2.	The Pledgor and the Company shall forthwith inform the Pledgee of any attachment (beslag) over any part of the Collateral. 

The Pledgor or the Company, as the case may be, shall: 
  

	 	(i)	send the Pledgee a copy of the relevant attachment or seizure documentation as well as all other documents required under applicable law for challenging the attachment
or seizure (if and to the extent possible); and 

  

	 	(ii)	notify the third party or the court process server acting on behalf of such third party in writing of the Pledgee’s interest over the Collateral.

  

	 	6.3.	In addition and without prejudice to the obligations of the Pledgor pursuant to this section 6, the Pledgor shall, at its own expense, promptly take all such action as
the Pledgee may require: 

  

	 	(i)	for the purpose of perfecting or protecting any of the Lenders’ rights under, and preserving the Security; and 

 

	 	(ii)	after the occurrence of an Event of Default, for the purpose of facilitating the realization of any of that Security, 

including the execution of any transfer, conveyance, assignment or assurance of any asset (goed) and the giving of any notice,
order or direction and the making of any registration which the Pledgee may reasonably require. 
  

	 	6.4.	The Pledgor shall use its best efforts to promptly collect each Dividend that it may collect pursuant to section 3.2 of this Agreement and has become due and payable.

  

	 	7.	Enforcement and power of attorney 

  

	 	7.1.	 Without prejudice to any other right or remedy available to the Pledgee, the Pledgee, after the occurrence of an Event of Default which is continuing,
may immediately enforce the Security against the Pledgor without any notice of default being required and the Pledgee may immediately exercise in respect of 

  
 (10)

	 	
any and all of the Collateral any and all of its rights and powers set out in this Agreement (subject to restrictions following from mandatory provisions of law) irrespective of whether the
Pledgee or any of the other Secured Parties shall have proceeded against or claimed payment from any party liable for any of the Parallel Debt. 

 In such case, the Pledgee shall be entitled to sell or procure the sale of the Collateral forthwith, all to the extent permitted by applicable law. 

To the extent permitted under the laws of the Netherlands, the Pledgor hereby irrevocably waives, renounces and agrees not to exercise
any pre-emption rights or rights of first refusal (if any) upon such a sale by the Pledgee which waiver the Pledgee hereby accepts. 
  

	 	7.2.	To the extent necessary, the Pledgor agrees for the benefit of the Pledgee that upon a default in the performance of any obligation under the Parallel Debt, it shall be
deemed to be in default (verzuim) in respect of the Secured Obligations within the meaning of section 3:248 paragraph 1 and 6:81 Dutch Civil Code without any notice or action being necessary. 

For the avoidance of doubt, a default in the performance of any obligation under the Parallel Debt shall have occurred, inter alia, upon
the occurrence of an Event of Default. 
  

	 	7.3.	To the fullest extent permitted by applicable law, the Pledgor waives (which waivers the Pledgee hereby accepts) any right they may have in the event that the Pledgee
enforces the Security (i) pursuant to section 3:234 Dutch Civil Code to demand that the Pledgee shall also enforce any of the security interests (zekerheidsrechten) granted by any other Borrowers and (ii) of requiring the Pledgee to
firstly proceed against or claim payment from any person or entity or enforce any guarantee or security granted by any other person or entity before enforcing the Security and/or any other rights under this Agreement. 

 

	 	7.4.	The Pledgor will not be entitled to request the summary proceedings judge (voorzieningenrechter) to order that the Collateral shall be sold in a manner deviating
from the provision of section 3:250 Dutch Civil Code. 

  

	 	7.5.	In the event that the Pledgee forecloses or intends to foreclose the Security, it will not be obliged to give notice (thereof) (as provided in section 3:249 and section
3:252 Dutch Civil Code) to the Pledgor or any person having the benefit of an encumbrance on the Collateral comprised in such Security (save as may be otherwise provided in the Credit Agreement). 

  
 (11)

	 	7.6.	The Pledgee shall apply the proceeds of the Collateral and the foreclosure of any Security (or any part thereof) in accordance with the relevant provisions of the
Credit Agreement, subject to the relevant mandatory provisions of the laws of the Netherlands, including section 3:253 Dutch Civil Code and the right of the Pledgee to recover any shortfall from the Pledgor or any other party or person liable in
connection with such shortfall. 

  

	 	7.7.	Under the condition precedent (opschortende voorwaarde) of the occurrence of an Event of Default, the Pledgor hereby grants to the Pledgee (and any of its
delegates) an irrevocable power of attorney in accordance with section 3:74 paragraph 1 Dutch Civil Code to perform all acts and execute all documents in order to perfect or implement this Agreement on its behalf, and to take all actions which are
necessary for the Pledgee (and any of its delegates) to create, maintain, protect, preserve and exercise its rights under this Agreement (including the waiver of the Pledgor’s pre-emption rights or rights of first refusal in case of a sale
pursuant to section 7.1). 

 The parties agree that section 3:68 (Selbsteintritt) Dutch Civil Code will
apply and to the extent necessary, the Pledgor hereby waives any rights it may have under section 3:68 Dutch Civil Code, which waiver the Pledgee hereby accepts. This power of attorney does include the right of substitution. 

 

	 	8.	Termination 

  

	 	8.1.	The Pledgee is at any time (at its discretion) entitled to terminate (opzeggen) in whole or in part any Security on all or part of the Collateral and the
contractual arrangements set forth herein. 

 Notice of termination must be given in writing by the Pledgee to the
Pledgor. 
  

	 	8.2.	The Security shall terminate by operation of law upon the unconditional and irrevocable payment and discharge in full of the Secured Obligations and, if earlier, the
Pledgee shall discharge the Collateral from the Security and promptly do all that is reasonably required to effect a release if in accordance with the provisions of the Credit Agreement. 

Subject to the relevant sections of the Credit Agreement, if the Pledgee considers that any amount paid or credited to it under any
Collateral Document is capable of being avoided or otherwise set aside, that amount shall not be considered to have been paid for the purposes of determining whether all the Parallel Debt and/or the Secured Obligations have been irrevocably paid.

 At the request of the Pledgor, the Pledgee shall confirm such termination to the Pledgor promptly in writing and will execute
all documents reasonably requested by the Pledgor in relation thereto (at the expense of such Pledgor). 

  
 (12)

	 	8.3.	Reinstatement ---------------------------------------------------------------------------- 

If any payment by the Pledgor or any recovery or discharge by the Pledgee is avoided or reduced (on whatever grounds): 

 

	 	a.	the liability of the Pledgor shall be deemed to have continued as if the payment, recovery or discharge (or the part thereof subject to the avoidance or reduction) had
not occurred; and 

  

	 	b.	notwithstanding any confirmation as referred to in section 8 (Termination), 

the Pledge and this Agreement (including, for the avoidance of doubt, all provisions expressed to end upon the Pledgee’s
confirmation that the Pledge has terminated) shall be deemed to have continued and the Pledge shall serve (without limitation) as security for the payment of the amount subject to the avoidance or reduction as a Security. 

 

	 	9.	Assignment 

  

	 	9.1.	Subject to the relevant provisions of the Credit Agreement, the Pledgee (but not, for the avoidance of doubt, the Pledgor) shall be entitled to assign and/or transfer
all or part of its rights and obligations under this Agreement to any permitted assignee and/or transferee under the Credit Agreement. 

  

	 	9.2.	The Pledgor hereby in advance gives its irrevocable consent to (geeft toestemming bij voorbaat) within the meaning of section 6:156 Dutch Civil Code and hereby
in advance irrevocably co-operates with (verleent bij voorbaat medewerking aan), within the meaning of sections 6:159 and 6:156 Dutch Civil Code, any such assignment and/or transfer, pursuant to section 9.1 and/or the relevant sections of the
Credit Agreement, including by means of an assumption of debt (schuldoverneming) or transfer of agreement (contractsoverneming), as the case may be, hereunder. 

 

	 	9.3.	If the Pledgee assigns and transfers its rights or obligations as referred to under section 9.1 and/or the relevant sections of the Credit Agreement, the Pledgor, with
due observance of article 17 paragraph 4 of the articles of association of the Company, having given the members of the management board of the Company the opportunity to cast their advisory vote, herewith resolves as holder of all issued shares in
the share capital of the Company, without holding a meeting of shareholders, to approve in advance the conditional transfer of Voting Rights to such assignee and/or transferee. 

  
 (13)

	 	10.	General 

  

	 	10.1.	Information 

 The Pledgee
shall be entitled to impart any information concerning the Pledgor to any successor or proposed successor pursuant to section 9.1 and/or the relevant sections of the Credit Agreement, subject to the confidentiality provision of the Credit Agreement.

  

	 	10.2.	Liability 

 The Pledgee
shall not be liable for any damage suffered by the Pledgor or the Company in connection with this Agreement, the Pledge or the Collateral, other than any damage suffered as a result of the Pledgee’s own gross negligence or wilful misconduct.

 Neither of the Pledgor and the Company shall have, and neither of the Pledgor and the Company may make, any claim or initiate
any litigation or other proceedings or procedure against any director (managing or otherwise), officer, employee or agent of the Pledgee in connection with this Agreement, the Pledge or the Collateral. 

Each director (managing or otherwise), officer, employee or agent of the Pledgee may exercise and enforce this section 10.2. 

 

	 	10.3.	Evidence 

 Subject to
proof to the contrary, the records of the Pledgee shall be conclusive evidence (dwingend bewijs) vis-à-vis the Pledgor of the existence and amount of the Secured Obligations and the Parallel Debt, subject to and in accordance with the
terms of the Credit Agreement. 
  

	 	10.4.	Costs 

 Subject to any
provision to the contrary herein, all costs incurred in connection with the creation of the Security and the performance by the parties of their rights and obligations under this Agreement shall be settled in accordance with the relevant provisions
of the Credit Agreement. 
  

	 	10.5.	Notices 

 Any notices and
other communications under or in connection with this Agreement shall be given in accordance with the relevant provisions of the Credit Agreement. 
  

	 	10.6.	Financial Assistance 

 No
Pledgor shall be liable to pay any amount to the extent that, were it to be so liable the Security or any part thereof would constitute a violation of sections 2:98c and/or 2:207c Dutch Civil Code. 

 

	 	10.7.	Waivers 

 The Pledgor
waives, to the fullest extent permitted by law, its right (i) to dissolve this Agreement, pursuant to section 6:265 Dutch Civil Code or on any other ground or (ii) to avoid this Agreement, including but not limited to error
(dwaling), which waiver the Pledgee hereby accepts. 

  
 (14)

	 	10.8.	Security interest absolute 

 All rights of the Pledgee, the Security and all obligations of the Pledgor hereunder shall be absolute and unconditional irrespective of: 

 

	 	(i)	any change in the time, manner or place of payment of the Parallel Debt and/or the Secured Obligations or any change of or amendment to any Loan Document and any other
document related thereto, or any other agreement or instrument relating to any of them; or 

  

	 	(ii)	any exchange, release or non perfection of any other collateral, or any release or amendment or waiver of or consent to any departure from any other collateral for the
Secured Obligations. 

  

	 	10.9.	Amendment of this Agreement 

 This Agreement may only be amended or supplemented by a written agreement between the Pledgor, the Company, and the Pledgee, to the extent required by the laws of the Netherlands, executed before a Dutch
civil-law notary. 
  

	 	11.	Governing Law and Jurisdiction 

  

	 	11.1.	This Agreement (including this section 11.1) shall be governed by and construed in accordance with the laws of the Netherlands. 

 

	 	11.2.	The Pledgor consents to the exclusive jurisdiction of the courts of Amsterdam, the Netherlands. 

The Pledgor hereby waives any objection that it may now or hereafter have to the jurisdiction of such courts, which waiver the Pledgee
hereby accepts. 
 This section is for the benefit of the Pledgee only and shall not limit its right to bring proceedings
against the Pledgor in connection with this Agreement or any Loan Document in any other court of competent jurisdiction or (to the extent permitted by law) concurrently in more than one jurisdiction. 

 

	 	12.	Severability of provisions 

  

	 	12.1.	Any provision of this Agreement which 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 or affecting the validity or enforceability of such provision in any other jurisdiction. 

 

	 	12.2.	The parties hereto agree that they will negotiate in good faith to replace any provision hereof held invalid, illegal or unenforceable as set out in section 12.1 with a
valid provision which is as similar as possible in substance to the invalid, illegal or unenforceable provision. 

  
 (15)

	 	13.	Remedies and prevalence 

  

	 	13.1.	The rights and remedies of the Pledgee herein, and the obligations, representations and warranties of the Pledgor herein, are cumulative and are not exclusive of any
rights or remedies of the Pledgee, or obligations, representations or warranties of the Pledgor, conferred or imposed by law, the Credit Agreement or any other Loan Document to which it is a party. 

 

	 	13.2.	To the extent there is a conflict between the provisions of the Credit Agreement and the provisions of this Agreement, the provisions of the Credit Agreement shall
prevail (but only to the extent that the validity and enforceability of the pledges created pursuant this Agreement and the powers of attorney given pursuant to this Agreement are not affected as a consequence). 

 

	 	13.3.	To the extent there is a conflict between the provisions of any Loan Document other than the Credit Agreement and the provisions of this Agreement, the provisions of
this Agreement shall prevail. 

  

	 	14.	Final Provisions 

  

	 	14.1.	With due observance of article 17 paragraph 4 of the articles of association of the Company, the Pledgor, has given the members of the management board of the Company,
the opportunity to cast their advisory vote, herewith resolves as holder of all issued shares in the share capital of the Company, without holding a meeting of shareholders to approve this Agreement including, without limitation, the Security and
the transfer of the Voting Rights on the Shares subject to the condition precedent (opschortende voorwaarde) of the occurrence of an Event of Default and the sending of the Company Default Notice. 

 

	 	14.2.	The Company hereby acknowledges the Pledge on the Present Shares. 

  

	 	15.	Regulation Board of the Royal Notarial Regulatory Body (Verordening Koninklijke Notariële Beroepsorganisatie) 

The Pledgor and Pledgee declare that they are aware of the fact that P.H.N. Quist, civil-law notary in Amsterdam, is one of the partners
of the law firm of Stibbe N.V. in Amsterdam, which acts as the external legal advisor of the Pledgor. 
 With reference to the
provisions of the ‘Code of Conduct (Verordening Beroeps- en Gedragsregels)’ as determined by the Board of the Royal Notarial Regulatory Body (Koninklijke Notariële Beroepsorganisatie), the Pledgor and the Pledgee
explicitly declare that they (i) consent to the civil-law notary executing the deed and (ii) consent to the fact that the Pledgor will be assisted by Stibbe in all cases connected with this deed and all potential conflicts arising there
from. 

  
 (16)

 This deed was executed today in Amsterdam. 

The substance of this deed was stated and explained to the appearing person. 

The appearing person declared not to require a full reading of the deed, to have taken note of the contents of this deed and to consent to
it. 
 Subsequently, this deed was read out in a limited form, and immediately thereafter signed by the appearing person and
myself, civil-law notary, at five hours thirteen minutes post meridiem. 

  
 (17)

 ANNEX 1 
 FORM OF COMPANY DEFAULT NOTICE 
 To: [insert details of the Company] 

From: [insert details Pledgee] (the ‘Pledgee’) 
 [place] [date] 
 Dear Sir/Madam, 

Reference is made to the agreement and deed of disclosed pledge of shares executed on 18 May 2012 before (a legal substitute for) P.H.N. Quist,
civil-law notary in Amsterdam (the ‘Agreement’). All capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Agreement. 
 Section 4.2 of the Agreement provides that receipt by you of this notice, subject to an Event of Default having occurred, is sufficient for you to accept us as being exclusively entitled to such
rights (expressly including the Dividends and the Voting Rights) and other powers which we are entitled to exercise pursuant to the Agreement and you will make payments of cash dividends, distributions, interest payments and other amounts payable in
respect of the Collateral in accordance with our instructions. 
 Section 7.1 of the Agreement provides that, we, after the occurrence of
an Event of Default which is continuing, may immediately enforce the Security against the Pledgor. 
 We hereby give you notice that an Event of
Default has occurred which is continuing, that this is the Company Default Notice, that we are exclusively entitled to such rights (expressly including the Dividends and the Voting Rights) and other powers which we are entitled to exercise pursuant
to the Agreement and that you are obligated to make payments of cash dividends, distributions, interest payments and other amounts payable in respect of the Collateral in accordance with our instructions. 

 

			
	Yours faithfully,
	
	  

		
	 By:
	 	 [Pledgee]

		
	 Title:
	 	
		
	 Cc:
	 	 [Pledgor]EX-10.7

 Exhibit 10.7 

 
  
 FOREIGN SUBSIDIARY GUARANTY 
 dated as of 

June 15, 2012 
 among 
 BAUSCH & LOMB B.V., 

as the Dutch Subsidiary Borrower 
 CERTAIN SUBSIDIARIES OF 
 BAUSCH & LOMB B.V. 

to be identified herein, 
 and 
 CITIBANK, N.A., 

as Administrative Agent 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  
	DEFINITIONS	  
			
	 Section 1.01.
	  	Credit Agreement	  	 	1	  
			
	 Section 1.02.
	  	Other Defined Terms	  	 	1	  
	
	ARTICLE II	  
	FOREIGN SUBSIDIARY GUARANTY	  
			
	 Section 2.01.
	  	Foreign Subsidiary Guaranty	  	 	2	  
			
	 Section 2.02.
	  	Guaranty of Payment	  	 	3	  
			
	 Section 2.03.
	  	No Limitations; Guaranty Absolute	  	 	3	  
			
	 Section 2.04.
	  	Reinstatement	  	 	4	  
			
	 Section 2.05.
	  	Agreement to Pay; Subrogation	  	 	4	  
			
	 Section 2.06.
	  	Information	  	 	4	  
	
	ARTICLE III	  
	PARALLEL DEBT (COVENANT TO PAY THE ADMINISTRATIVE AGENT)	  
			
	 Section 3.01.
	  	Undertaking to Pay	  	 	4	  
			
	 Section 3.02.
	  	Independent Right to Payment	  	 	4	  
			
	 Section 3.03.
	  	Computation of Amount Payable	  	 	5	  
			
	 Section 3.04.
	  	Rights to Receive Payment	  	 	5	  
			
	 Section 3.05.
	  	Non-Applicability to France	  	 	5	  
	
	ARTICLE IV	  
	INDEMNITY, SUBROGATION AND SUBORDINATION	  
			
	 Section 4.01.
	  	Indemnity and Subrogation	  	 	5	  
			
	 Section 4.02.
	  	Contribution and Subrogation	  	 	5	  
			
	 Section 4.03.
	  	Subordination	  	 	5	  
	
	ARTICLE V	  
	MISCELLANEOUS	  
			
	 Section 5.01.
	  	Notices	  	 	6	  
			
	 Section 5.02.
	  	Waivers; Amendment	  	 	6	  
			
	 Section 5.03.
	  	Administrative Agent’s Fees and Expenses, Indemnification	  	 	6	  
			
	 Section 5.04.
	  	Successors and Assigns	  	 	7	  
			
	 Section 5.05.
	  	Counterparts; Several Agreement	  	 	7	  
			
	 Section 5.06.
	  	Severability	  	 	7	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 Section 5.07.
	  	Right of Set-Off	  	 	7	  
			
	 Section 5.08.
	  	Governing Law; Jurisdiction; Venue; Waiver Of Jury Trial; Consent To Service Of Process	  	 	8	  
			
	 Section 5.09.
	  	Headings	  	 	9	  
			
	 Section 5.10.
	  	Termination or Release	  	 	9	  
			
	 Section 5.11.
	  	Survival of Representations and Warranties	  	 	9	  
			
	 Section 5.12.
	  	Covenant to Give Security	  	 	10	  
			
	 Section 5.13.
	  	Additional Guarantors	  	 	10	  
			
	 Section 5.14.
	  	Non-U.S. Limitations	  	 	10	  
			
	Appendix I	  	Guaranty Supplement	  			

  
 ii 

 FOREIGN SUBSIDIARY GUARANTY dated as of June 15, 2012, among BAUSCH & LOMB
B.V. (the “Dutch Subsidiary Borrower”), certain non-U.S. subsidiaries of the Dutch Subsidiary Borrower from time to time party hereto (collectively, “Subsidiaries” and, individually, “Subsidiary”),
and CITIBANK, N.A., as Administrative Agent (as defined below). 
 Reference is made to the Credit Agreement dated as of
May 18, 2012 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Dutch Subsidiary Borrower, Bausch & Lomb Incorporated, WP Prism Inc., Citibank,
N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, JPMorgan Chase Bank, N.A., as an L/C Issuer, and each lender from time to time party thereto (collectively, the “Lenders” and individually, a
“Lender”). The Lenders have agreed to extend credit to Bausch & Lomb Incorporated and the Dutch Subsidiary Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Lenders to
extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. The Subsidiaries are affiliates of the Dutch Subsidiary Borrower, will derive substantial benefits from the extension of credit to the Dutch
Subsidiary Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, the parties hereto make the following representations and warranties to the
Administrative Agent for the benefit of the Secured Parties and hereby covenant and agree as follows: 
 ARTICLE I 

DEFINITIONS 

SECTION 1.01. Credit Agreement. (a) Capitalized terms used in this Agreement and not otherwise defined herein have the
meanings specified in the Credit Agreement. 
 (b) The rules of construction specified in Article I of the Credit Agreement also
apply to this Agreement. 
 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have
the meanings specified below: 
 “Administrative Agent” means Citibank, N.A., acting through one or more of its
branches or affiliates in its capacity as administrative agent and collateral agent under the Loan Documents, or any successor administrative agent and collateral agent. 
 “Agreement” means this Foreign Subsidiary Guaranty. 

“Claiming Party” has the meaning assigned to such term in Section 4.02. 

“Contributing Party” has the meaning assigned to such term in Section 4.02. 

“Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Foreign Obligations” means all (x) advances to, and debts, liabilities, obligations, covenants and duties of any
Guaranty Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), 

  
 1 

 
absolute or contingent, due or to become due, now existing or hereafter arising and including interest, fees and expenses that accrue after the commencement by or against any Guaranty Party of
any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, fees and expenses are allowed claims in such proceeding, (y) obligations of any Guaranty Party arising under
any Secured Hedge Agreement and (z) Cash Management Obligations of any Guaranty Party. Without limiting the generality of the foregoing, the Foreign Obligations under the Loan Documents include the obligation (including guarantee obligations)
to pay principal, interest, Letter of Credit, reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities and other amounts payable by any Guaranty Party under any Loan Document. 

“French Guarantor” means a Guarantor organized or incorporated under the laws of France. 

“French Security Documents” means any and all Loan Documents (a) governed by French law or (b) to which a
French Guarantor is a party, in the case of (b) to the extent such Loan Document is applicable to such French Guarantor. 

“Group” means Bausch & Lomb Incorporated and its direct and indirect subsidiaries. 

“Guarantors” means the Foreign Subsidiary Guarantors that are party hereto by executing a counterpart (as listed in
Annex A hereto) or a Guaranty Supplement. 
 “Guaranty Parties” means, collectively, the Dutch Subsidiary
Borrower and each Guarantor and “Guaranty Party” means any one of them. 
 “Guaranty
Supplement” means an instrument substantially in the form of Appendix I hereto. 
 “Loan Documents”
means (a) each Loan Document as defined under the Credit Agreement, (b) each Secured Hedge Agreement entered into with a Hedge Bank and (c) each agreement governing Cash Management Services entered into with a Cash Management Bank, in
each case, to which a Guaranty Party is a party. 
 ARTICLE II 

FOREIGN SUBSIDIARY GUARANTY 
 SECTION 2.01. Foreign Subsidiary Guaranty. Each Guarantor irrevocably, absolutely and unconditionally guarantees, jointly with the other Guarantors and severally, as a primary obligor and not
merely as a surety, the due and punctual payment of the Foreign Obligations, either at stated maturity or earlier by reason of acceleration, mandatory prepayment or otherwise in accordance herewith or with any other Loan Documents. Each of the
Guarantors further agrees that the Foreign Obligations may be extended, increased or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guaranty notwithstanding any extension, increase
or renewal, in whole or in part, of any Foreign Obligation. Each of the Guarantors waives presentment to, demand of payment from and protest to any Guaranty Party of any of the Foreign Obligations, and also waives notice of acceptance of its
guaranty and notice of protest for nonpayment. 

  
 2 

 SECTION 2.02. Guaranty of Payment. Each of the Guarantors further agrees that
its guaranty hereunder constitutes a guaranty of payment when due and not of collection, and waives any right to require that any resort be had by the Administrative Agent or any other Secured Party to any security held for the payment of the
Foreign Obligations, or to any balance of any deposit account or credit on the books of the Administrative Agent or any other Secured Party in favor of the Dutch Subsidiary Borrower or any other Person. 

SECTION 2.03. No Limitations; Guaranty Absolute. (a) Except for termination of a Guarantor’s obligations hereunder
as expressly provided in Section 5.10 and except for the Non-U.S. Limitations as expressly provided in Section 5.14, to the fullest extent permitted by applicable law, the obligations of each Guarantor hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever by
reason of the invalidity or unenforceability of the Foreign Obligations, or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall not be discharged, impaired or otherwise affected by
(i) the failure of the Administrative Agent or any other Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise; (ii) any rescission, waiver, amendment or
modification of, or any release from any of the terms or provisions of any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; (iii) the release of any security held by the Administrative
Agent or any other Secured Party for the Foreign Obligations; (iv) any default, failure or delay, willful or otherwise, in the performance of the Foreign Obligations; or (v) any other act or omission that may or might in any manner or to
any extent vary the risk of any Guarantor or otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the indefeasible payment in full in cash of all the Foreign Obligations). Each Guarantor expressly authorizes the
Secured Parties to take and hold security for the Foreign Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in
their sole discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Foreign Obligations, all in accordance with the Non-U.S. Security Agreement and other Loan Documents and all without affecting
the obligations of any Guarantor hereunder. 
 (b) To the fullest extent permitted by applicable law, all rights of the
Administrative Agent hereunder and all obligations of each Guarantor hereunder shall be absolute and unconditional irrespective of, and each Guarantor waives any defense based on or arising out of, (i) any lack of validity or enforceability of
the Credit Agreement, any other Loan Document, any agreement with respect to any of the Foreign Obligations or any other agreement or instrument relating to any of the foregoing, (ii) any change in the time, manner or place of payment of, or in
any other term of, all or any of the Foreign Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document, or any other agreement or instrument, (iii) any exchange, release
or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guaranty securing or guaranteeing all or any of the Foreign Obligations, (iv) any other circumstance that might
otherwise constitute a defense available to, or a discharge of, any Guarantor in respect of the Foreign Obligations or this Agreement or (e) any defense of the Dutch Subsidiary Borrower or any other Guaranty Party. 

(c) The Administrative Agent and the other Secured Parties may, in accordance with the terms of the Non-U.S. Collateral Documents and at
their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Foreign Obligations, make any
other accommodation with any Guaranty Party or exercise any other right or remedy available to them against any Guaranty Party, without affecting or impairing in any way the liability of any Guarantor hereunder

  
 3 

 
except to the extent the Foreign Obligations have been fully and indefeasibly paid in full in cash. To the fullest extent permitted by applicable law, each Guarantor waives any defense arising
out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Guarantor against any Guaranty Party, as the case may be,
or any security. 
 SECTION 2.04. Reinstatement. Each of the Guarantors agrees that its guaranty hereunder shall
continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Foreign Obligation, is rescinded, invalidated or must otherwise be restored by the Administrative Agent or any other Secured Party
upon the bankruptcy or reorganization of any Guaranty Party or otherwise. 
 SECTION 2.05. Agreement to Pay;
Subrogation. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent or any other Secured Party has at law or in equity against any Guarantor by virtue hereof, upon the failure of any Guaranty Party
to pay any Foreign Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative
Agent for distribution to the Secured Parties in cash the amount of such unpaid Foreign Obligation. Upon payment by any Guarantor of any sums to the Administrative Agent as provided above, all rights of such Guarantor against any Guaranty Party
arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article IV. 
 SECTION 2.06. Information. Each Guarantor assumes all responsibility for being and keeping itself informed of each Guaranty Party’s financial condition and assets, and of all other
circumstances bearing upon the risk of nonpayment of the Foreign Obligations, and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that none of the Administrative Agent or the other Secured
Parties will have any duty to advise such Guarantor of information known to it or any of them regarding such circumstances or risks. 
 ARTICLE III 
 PARALLEL DEBT (COVENANT TO PAY THE ADMINISTRATIVE AGENT) 

SECTION 3.01. Undertaking to Pay. Notwithstanding any other provision of this Agreement, to the extent permitted by
applicable law and subject to the non-U.S. limitations mentioned in Section 5.14(a), each Guaranty Party hereby irrevocably and unconditionally undertakes to pay to the Administrative Agent, as a creditor in its own right and not as
representative of the other Secured Parties, sums equal to the Foreign Obligations of such Guaranty Party with respect to each of the Secured Parties as and when such Foreign Obligations become due for payment under the relevant Loan Document or
would have become due but for any discharge resulting from failure of another Secured Party to take appropriate steps, in insolvency proceedings affecting that Guaranty Party, to preserve its entitlement to be paid that amount. 

SECTION 3.02. Independent Right to Payment. To the extent permitted by applicable law, the Administrative Agent shall have
its own independent right to demand payment of the amounts payable by each Guaranty Party under this Article III (Parallel Debt (Covenant to pay the Administrative Agent)) irrespective of any discharge of such Guaranty Party’s obligation to pay
those amounts to the other Secured Parties resulting from failure by them to take appropriate steps, in insolvency proceedings affecting that Guaranty Party, to preserve their entitlement to be paid those amounts. 

  
 4 

 SECTION 3.03. Computation of Amount Payable. Any amount due and payable by a
Guaranty Party to the Administrative Agent under this Article III (Parallel Debt (Covenant to pay the Administrative Agent)) shall be decreased to the extent that the other Secured Parties have received (and are able to retain) payment in full of
the corresponding amount under the other provisions of the Loan Documents and any amount due and payable by a Guaranty Party to the other Secured Parties under those provisions shall be decreased to the extent that the Administrative Agent has
received (and is able to retain) payment in full of the corresponding amount under this Article III (Parallel Debt (Covenant to pay the Administrative Agent)). 
 SECTION 3.04. Rights to Receive Payment. The rights of the Secured Parties (other than the Administrative Agent) to receive payment of amounts payable by each Guaranty Party under the Loan
Documents are several and are separate and independent from, and without prejudice to, the rights of the Administrative Agent to receive payment under this Article III (Parallel Debt (Covenant to pay the Administrative Agent)). 

ARTICLE IV 

INDEMNITY, SUBROGATION AND SUBORDINATION 
 SECTION 4.01. Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 4.03), the
Dutch Subsidiary Borrower agrees that in the event a payment of any Foreign Obligation of the Dutch Subsidiary Borrower shall be made by any Guarantor under this Agreement, the Dutch Subsidiary Borrower shall indemnify such Guarantor for the full
amount of such payment and such Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the extent of such payment. 
 SECTION 4.02. Contribution and Subrogation. Each Guarantor (a “Contributing Party”) agrees (subject to Section 4.03) that, in the event a payment shall be made by any
other Guarantor hereunder in respect of any Foreign Obligation and such other Guarantor (the “Claiming Party”) shall not have been fully indemnified by the Dutch Subsidiary Borrower as provided in Section 4.01, the Contributing
Party shall indemnify the Claiming Party in an amount equal to the amount of such payment, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party and the denominator shall be the aggregate net
worth of all the Contributing Parties together with the net worth of the Claiming Party, in each case, on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 4.13, the date of the Guaranty Supplement
executed and delivered by such Guarantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 4.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment. Each Guarantor
recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive, to the fullest extent permitted
by applicable law, its contribution right against any other Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders. 

SECTION 4.03. Subordination. (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the
Guarantors under Sections 4.01 and 4.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in full in cash of the Foreign Obligations;
provided that if any amount shall be paid to such Guarantor on account of such subrogation rights at any time prior to the irrevocable payment in 

  
 5 

 
full of the Foreign Obligations, such amount shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Administrative Agent to be credited and applied
against the Foreign Obligations, whether matured or unmatured, in accordance with Section 8.03 of the Credit Agreement. No failure on the part of the Dutch Subsidiary Borrower or any Guarantor to make the payments required by Sections 4.01 and
4.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor shall remain liable for the full amount
of the obligations of such Guarantor hereunder. 
 (b) Each Guarantor hereby agrees that upon the occurrence and during the
continuance of an Event of Default and after notification of the Administrative Agent, all Indebtedness owed by it to the Dutch Subsidiary Borrower or any Subsidiary shall be fully subordinated to the indefeasible payment in full in cash of the
Foreign Obligations. 
 ARTICLE V 
 MISCELLANEOUS 
 SECTION 5.01. Notices. All communications and notices
hereunder shall (except as otherwise expressly permitted herein) be in writing and given as provided in Section 10.02 of the Credit Agreement. All communications and notices hereunder to any Guarantor shall be given to it in care of
Bausch & Lomb Incorporated as provided in Section 10.02 of the Credit Agreement. 
 SECTION 5.02. Waivers;
Amendment. (a) No failure or delay by the Administrative Agent, any L/C Issuer or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the
Administrative Agent, the L/C Issuers and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent
to any departure by any Guaranty Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 5.02, and then such waiver or consent shall be effective only in the specific instance and
for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender
or any L/C Issuer may have had notice or knowledge of such Default at the time. No notice or demand on any Guaranty Party in any case shall entitle any Guaranty Party to any other or further notice or demand in similar or other circumstances.

 (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or
agreements in writing entered into by the Administrative Agent and the Guaranty Party or Guaranty Parties with respect to which such waiver, amendment or modification is to apply, subject to any consent required in accordance with Section 10.01
of the Credit Agreement. 
 SECTION 5.03. Administrative Agent’s Fees and Expenses, Indemnification.
(a) The parties hereto agree that the Administrative Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided in Section 10.04 of the Credit Agreement. 

(b) Without limitation of its indemnification obligations under the other Loan Documents, the Dutch Subsidiary Borrower agrees to
indemnify the Administrative Agent and the other Indemnitees (as defined in Section 10.05 of the Credit Agreement) against, and hold each Indemnitee 

  
 6 

 
harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and disbursements of any counsel for any Indemnitee, incurred by or
asserted against any Indemnitee arising out of, in connection with, or as a result of, the execution, delivery or performance of this Agreement or any claim, litigation, investigation or proceeding relating to any of the foregoing agreements or
instruments contemplated hereby, whether or not any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are
determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or of any Affiliate, director, officer, employee, counsel, agent or
attorney-in-fact of such Indemnitee. 
 (c) Any such amounts payable as provided hereunder shall be additional Foreign
Obligations guaranteed hereunder and secured by the other Non-U.S. Collateral Documents. The provisions of this Section 5.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan
Document, the consummation of the transactions contemplated hereby, the repayment of any of the Foreign Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made
by or on behalf of the Administrative Agent or any other Secured Party. All amounts due under this Section 5.03 shall be payable within 20 Business Days of written demand therefor. 

SECTION 5.04. Successors and Assigns. The provisions of this Agreement shall be binding upon and shall inure to the benefit
of each Guaranty Party, the Administrative Agent and the other Secured Parties and their respective successors and assigns permitted hereby, except that no Guaranty Party shall have the right to assign or transfer its rights or obligations hereunder
or any interest herein (and any such assignment or transfer shall be void) except as expressly contemplated by this Agreement or the other Loan Documents. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be
deemed to include the permitted successors and assigns of such party. 
 SECTION 5.05. Counterparts; Several
Agreement. This Agreement may be executed in one 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 shall become effective as to any Guaranty
Party when a counterpart hereof executed on behalf of such Guaranty Party shall have been delivered to the Administrative Agent and a counterpart hereof shall have been executed on behalf of the Administrative Agent. Delivery by telecopier or
electronic transmission of an executed counterpart of a signature page to this Agreement shall be effective as delivery of an original executed counterpart of this Agreement. The Administrative Agent may also require that any such documents and
signatures delivered by telecopier or electronic transmission be confirmed by a manually signed original thereof; provided, that the failure to request or deliver the same shall not limit the effectiveness of any document or signature
delivered by telecopier or electronic transmission. This Agreement shall be construed as a separate agreement with respect to each Guaranty Party and may be amended, modified, supplemented, waived or released with respect to any Guaranty Party
without the approval of any other Guaranty Party and without affecting the obligations of any other Guaranty Party hereunder. 

SECTION 5.06. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable, the legality,
validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction. 
 SECTION 5.07. Right of Set-Off. In addition to any rights and remedies of the Lenders provided by
Law, upon the occurrence and during the continuance of any Event of Default, each Lender and its Affiliates and each L/C Issuer and its Affiliates is authorized at any time and from time to time,

  
 7 

 
without prior notice to any Guarantor, any such notice being waived by each Guaranty Party to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or
special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender and its Affiliates or such L/C Issuer and its Affiliates, as the case may be, to or for the credit or the account of the
respective Guaranty Parties and their Subsidiaries against any and all Foreign Obligations owing to such Lender and its Affiliates or such L/C Issuer and its Affiliates hereunder or under any other Loan Document, now or hereafter existing,
irrespective of whether or not such Agent or such Lender or Affiliate shall have made demand under this Agreement or any other Loan Document and although such Foreign Obligations may be contingent or unmatured or denominated in a currency different
from that of the applicable deposit or Indebtedness. Each Lender and L/C Issuer agrees promptly to notify the Dutch Subsidiary Borrower and the Administrative Agent after any such set off and application made by such Lender or L/C Issuer, as the
case may be; provided, that the failure to give such notice shall not affect the validity of such setoff and application. The rights of the Administrative Agent, each Lender and each L/C Issuer under this Section 5.07 are in addition to
other rights and remedies (including other rights of setoff) that the Administrative Agent, such Lender and such L/C Issuer may have. 
 SECTION 5.08. Governing Law; Jurisdiction; Venue; Waiver Of Jury Trial; Consent To Service Of Process. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (b) ANY LEGAL ACTION OR PROCEEDING ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT,
OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY
EXECUTION AND DELIVERY OF THIS AGREEMENT, THE DUTCH SUBSIDIARY BORROWER, EACH GUARANTOR AND THE ADMINISTRATIVE AGENT CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS. TO THE EXTENT PERMITTED BY
APPLICABLE LAW, THE DUTCH SUBSIDIARY BORROWER, EACH GUARANTOR AND THE ADMINISTRATIVE AGENT IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR OTHER DOCUMENT RELATED THERETO. 
 (c) WAIVER OF RIGHT TO TRIAL BY JURY. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF
ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS
AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 5.08 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

  
 8 

 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 5.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 5.09. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 SECTION 5.10. Termination or Release. (a) This Agreement and the Guaranties made herein shall terminate with respect to all Foreign Obligations when all the outstanding Foreign
Obligations (other than (x) obligations under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification obligations not yet accrued and payable) have
been paid in full and the Lenders have no further commitment to lend to the Dutch Subsidiary Borrower under the Credit Agreement. 
 (b) A Guarantor shall automatically be released from its obligations hereunder as provided in Section 9.11 of the Credit Agreement. 

(c) In connection with any termination or release pursuant to paragraph (a) or (b) of this Section 5.10, the
Administrative Agent shall execute and deliver to any Guarantor, at such Guarantor’s expense, all documents that such Guarantor shall reasonably request to evidence such termination or release, in each case in accordance with the terms of
Section 9.11 of the Credit Agreement. Any execution and delivery of documents pursuant to this Section 5.10 shall be without recourse to or warranty by the Administrative Agent. 

(d) At any time that the Dutch Subsidiary Borrower desires that the Administrative Agent take any of the actions described in immediately
preceding paragraph (c), it shall, upon request of the Administrative Agent, deliver to the Administrative Agent a certificate from a Responsible Officer of the Dutch Subsidiary Borrower certifying that the release of the respective Guarantor is
permitted pursuant to paragraph (a) or (b). The Administrative Agent shall have no liability whatsoever to any Secured Party as a result of any release of any Guarantor by it as permitted (or which the Administrative Agent in good faith
believes to be permitted) by this Section 5.10. 
 (e) Notwithstanding anything to the contrary set forth in this
Agreement, each Cash Management Bank and each Hedge Bank, by the acceptance of the benefits under this Agreement, hereby acknowledges and agrees that (i) the obligations of the Dutch Subsidiary Borrower or any Subsidiary under any Secured Hedge
Agreement and the Cash Management Obligations shall be guaranteed pursuant to this Agreement only to the extent that, and for so long, the other Foreign Obligations are so guaranteed and (ii) any release of a Guarantor effected in the manner
permitted by this Agreement shall not require the consent of any Hedge Bank or Cash Management Bank. 
 SECTION 5.11.
Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto and thereto or in connection herewith or therewith shall survive the
execution and delivery hereof and thereof, and shall continue in full force and effect as long as any Foreign Obligation shall remain unpaid or unsatisfied. 

  
 9 

 SECTION 5.12. Covenant to Give Security. Each of the Guaranty Parties hereby
agrees that promptly after the acquisition of any material tangible and intangible assets by such Guaranty Party, if such asset shall not already be subject to a perfected Lien pursuant to the Non-U.S. Guarantee and Collateral Requirement but
otherwise would be subject to compliance with the Non-U.S. Guarantee and Collateral Requirement had such asset been owned as of the date hereof, such Guaranty Party shall give notice thereof to the Administrative Agent and, upon the reasonable
request of the Administrative Agent, shall cause such material asset to be subjected to a Lien to the extent required by the Non-U.S. Guarantee and Collateral Requirement and will take, or cause the relevant Guaranty Parties to take, such
commercially reasonable actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect or record such Lien. 
 SECTION 5.13. Additional Guarantors. Each Subsidiary that the Parent Borrower deems to make a Guarantor under this Agreement may execute and deliver a Guaranty Supplement and thereupon such
Subsidiary shall become a Guarantor hereunder with the same force and effect as if originally named as a Guarantor hereunder. The execution and delivery of any such instrument shall not require the consent of any other Guaranty Party hereunder. The
rights and obligations of each Guaranty Party hereunder shall remain in full force and effect notwithstanding the addition of any new Guaranty Party as a party to this Agreement. 

SECTION 5.14. Non-U.S. Limitations. 
 (a) France: (i) The obligations and liabilities of any French Guarantor under the Loan Documents and in particular under this Agreement shall not include any obligation or liability which if incurred
would constitute the provisions of financial assistance within the meaning of article L.225-216 of the French Commercial Code or/and would constitute a misuse of corporate assets within the meaning of article L.241-3 or L.242-6 of the French
Commercial Code or any other law or regulations having the same effect, as interpreted by French courts. 
 (ii) The
obligations and liabilities of a French Guarantor under this Section for the obligations under the Loan Documents of any Guaranty Parties which is not a Subsidiary of such French Guarantor shall be limited, at any time, to an amount equal to
that portion of all amounts borrowed under the Credit Agreement by such Guaranty Party that has been directly or indirectly on-lent to such French Guarantor under intercompany loan agreements and outstanding at the date a payment is to be made by
such French Guarantor under this Agreement, it being specified that any payment made by such French Guarantor under this Agreement in respect of the obligations of such Guaranty Party shall reduce pro tanto the outstanding amount of the
intercompany loans due by such French Guarantor under the intercompany loan arrangements referred to above. 
 (iii) The
obligations and liabilities of a French Guarantor under this Section for the obligations under the Loan Documents of any Guaranty Parties which is its Subsidiary shall not be limited and shall therefore cover all amounts due by such Guaranty Party
as Borrower and as Guarantor. However, where such Subsidiary is not incorporated in France, the amounts payable by such French Guarantor under this paragraph (iii) in respect of the obligations of this Subsidiary as Guarantor, shall be limited
as set out in paragraph (ii) above. 
 (b) Netherlands: With respect to each Guarantor which is incorporated or organized
in The Netherlands, its obligations under this Foreign Subsidiary Guaranty shall not apply to the extent (but only to the extent) that it constitutes unlawful financial assistance within the meaning of Section 2:207c of the Dutch Civil Code
(Het Burgerlijk Wetboek). 

  
 10 

 [Signatures on following page] 

  
 11 

 IN WITNESS WHEREOF, for the purposes of Section 4.01 only, the undersigned has duly
executed this Agreement as of the day and year first above written. 
  

			
	 BAUSCH & LOMB B.V.,
as Dutch Subsidiary Borrower

		
	By:	 	  

		 	Name:
		 	Title:

 Signature Page for Guaranty 

 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year
first above written. 
  

			
	 [EACH OF THE GUARANTORS LISTED ON ANNEX A HERETO],
each as a Guarantor

		 	
		
	 By:
	 	  

		 	Name:
		 	Title:

 Signature Page for Guaranty 

 
			
	 CITIBANK, N.A.,

	 as Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

 Signature Page for Guaranty 

 ANNEX A 
 GUARANTORS 
 BCF 

 APPENDIX I 
 SUPPLEMENT NO.     dated as of [                    ], to the Foreign Subsidiary
Guaranty dated as of June 15, 2012 (the “Foreign Subsidiary Guaranty”), among BAUSCH & LOMB B.V. (the “Dutch Subsidiary Borrower”), certain subsidiaries of the Dutch Subsidiary Borrower from time to
time party thereto (collectively, “Subsidiaries” and, individually, “Subsidiary”), and CITIBANK, N.A., as Administrative Agent. 
 A. Reference is made to (i) the Credit Agreement dated as of May 18, 2012 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the Dutch Subsidiary Borrower, Bausch & Lomb Incorporated (the “Parent”), Holdings, Citibank, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, JPMorgan Chase Bank, N.A., as an L/C
Issuer, and each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), (ii) each Secured Hedge Agreement, and (iii) the Cash Management Obligations. 

B. (a) Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit
Agreement. 
 “Guarantors” means Guarantors, as defined under the Foreign Subsidiary Guaranty.

 “Obligations” means Foreign Obligations, as defined under the Foreign Subsidiary Guaranty.

 (b) The rules of construction specified in Article I of the Credit Agreement also apply to this Supplement. 

C. The Guarantors have entered into the Foreign Subsidiary Guaranty in order to induce (i) the Lenders to make Loans and the L/C
Issuers to issue Letters of Credit, (ii) the Hedge Banks to enter into and/or maintain Secured Hedge Agreements and (iii) the Cash Management Banks to provide Cash Management Services. Section 5.13 of the Foreign Subsidiary Guaranty
provides that additional Subsidiaries of the Dutch Borrower may become Guarantors under the Foreign Subsidiary Guaranty by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New
Subsidiary”) is executing this Supplement to become a Guarantor under the Foreign Subsidiary Guaranty in order to induce (A) the Lenders to make additional Loans and the L/C Issuers to issue additional Letters of Credit, (B) the
Hedge Banks to enter into and/or maintain Secured Hedge Agreements and (C) the Cash Management Banks to provide Cash Management Services and as consideration for (x) Loans previously made and Letters of Credit previously issued,
(y) Secured Hedge Agreements previously entered into and/or maintained and (z) Cash Management Services previously provided. 
 Accordingly, the Administrative Agent and the New Subsidiary agree as follows: 

SECTION 1. In accordance with Section 5.13 of the Foreign Subsidiary Guaranty, the New Subsidiary by its signature below becomes a
Guarantor under the Foreign Subsidiary Guaranty with the same force and effect as if originally named therein as a Guarantor and the New Subsidiary hereby (a) agrees to all the terms and provisions of the Foreign Subsidiary Guaranty applicable
to it as a Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Guarantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, the New Subsidiary,
as security for the payment in full of the Obligations does hereby, for the benefit of 

  
 Appendix I-1

 
the Secured Parties, their successors and assigns, irrevocably, absolutely and unconditionally guaranty, jointly with the other Guarantors and severally, as a primary obligor and not merely as a
surety, the due and punctual payment of the Obligations. Each reference to a “Guarantor” in the Foreign Subsidiary Guaranty shall be deemed to include the New Subsidiary. The Foreign Subsidiary Guaranty is hereby incorporated herein
by reference. 
 SECTION 2. The New Subsidiary represents and warrants to the Administrative Agent and the other Secured Parties
that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by Debtor Relief
Laws and by general principles of equity. 
 SECTION 3. This Supplement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Administrative Agent shall have received
a counterpart of this Supplement that bears the signature of the New Subsidiary, and the Administrative Agent has executed a counterpart hereof. Delivery of an executed signature page to this Supplement by facsimile transmission or other electronic
communication shall be as effective as delivery of a manually signed counterpart of this Supplement. 
 SECTION 4. Except as
expressly supplemented hereby, the Foreign Subsidiary Guaranty shall remain in full force and effect. 
 SECTION 5. THIS
SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 6. If any
provision contained in this Supplement is held to be invalid, illegal or unenforceable, the legality, validity, and enforceability of the remaining provisions contained herein and in the Foreign Subsidiary Guaranty shall not be affected or impaired
thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 5.01 of the Foreign Subsidiary Guaranty. 

SECTION 8. The New Subsidiary agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with
the execution and delivery of this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Administrative Agent. 
 [SIGNATURE ON THE FOLLOWING PAGE] 

  
 Appendix I-2

 IN WITNESS WHEREOF, the New Subsidiary and the Administrative Agent have duly executed this
Supplement to the Guaranty as of the day and year first above written. 
  

			
	[NAME OF NEW SUBSIDIARY],
		
	By:	 	  

		 	Name:
		 	Title:
	
	Jurisdiction of Formation:
	Organizational Identification Number: Address Of Chief Executive Office:
	
	CITIBANK, N.A., as Administrative Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 Appendix I-3

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