Document:

Exhibit (10)-mm

    
      

    

     

      Exhibit
      (10)-mm

     

    LETTER
      WAIVER

     

      

    To:   Bausch
      & Lomb B.V. (the Company)
      

     
    Koolhovenlaan
      110

     
    1119
      NH
      Schiphol-Rijk

     
    The
      Netherlands

    

    Fax:      
      +31
      20
      6554 651

    Attn:    
      Financial
      Controller

    

    

    and:     
      Bausch
      & Lomb Incorporated (the Guarantor)
      

     
    One
      Bausch
& Lomb Place

     
    Rochester

     
    New
      York
      14604

     
    United
      States
      of America

    

    Fax:     
       +1
      585
      338 8188

    Attn:    
      Corporate
      Treasury Operations

     

      6
      December, 2006

     

      Dear
      Sirs,

     

      US$375,000,000
      credit agreement dated 29 November 2005 (as amended) between (among others)
      the
      Company, the Guarantor and Citibank International plc as facility agent
      (the
      Agreement)

     

    	1.  	
            Background

          

     

    	(a)  	
            This
              letter is supplemental to and amends the
              Agreement.

          

     

    	(b)  	
            Pursuant
              to Clause 25 (Amendments and Waivers) of the Agreement, the Majority
              Lenders have consented to the amendments to the Agreement contemplated
              by
              this letter. Accordingly, we are authorised to execute this letter
              on
              behalf of the Finance Parties.

          

     

    	2.  	
            Interpretation

          

     

    	(a)  	
            Capitalised
              terms defined in the Agreement have the same meaning when used in this
              letter unless expressly defined in this
              letter.

          

     

    	(b)  	
            The
              provisions of Clause 1.2 (Construction) of the Agreement apply to this
              letter as though they were set out in full in this letter except that
              references to the Agreement are to be construed as references to this
              letter.

          

     

    	(c)  	
            Effective
              Date
              means 15 December, 2006, provided that the Facility Agent shall have
              given
              notification to the Obligors that it has received a copy of this letter
              countersigned by the Company and the Guarantor.

          

     

    	3.  	
            Amendments

          

     

    	(a)  	
            Subject
              to subparagraph (b) below, the Agreement will be amended from the
              Effective Date in accordance with subparagraph (c)
              below.

          

     

    	(b)  	
            The
              Agreement will not be amended by this letter unless the Facility Agent
              has
              received a copy of this letter countersigned by the Company and the
              Guarantor on or before the Effective Date.

          

     

    	(c)  	
            The
              Agreement will be amended as follows:

          

     

    	(i)  	
            Clause
              19.11(a)(ii) (BLIO Matters) of the Agreement shall be amended by deleting
              the reference to “15 December 2006” in the last line thereof and replacing
              it with “31 January 2007”;

          

     

    	(ii)  	
            the
              definition of Other
              Announcements
              shall be amended as follows:

          

     

    	 	
             (i)
              deleting
              the word “and” at the end of subparagraph (xiii);
              

          

     

    	 	
            (ii)
              deleting
              the full stop after the words "8 August 2006 " at the end of subparagraph
              (xiv) and replacing it with a semi-colon;
              and

          

     

    	 	
            (iii)
              inserting
              new subparagraphs (xv) to (xxii), inclusive as follows:
              

          

     

    	 	
            "(xv)
              press
              release, dated 29 September 2006;

          

     

    	 	
            (xvi)
              press
              release dated 9 November, 2006; 

          

     

    	 	
            (xvii)
              Form
              8-K, filed 20 September, 2006 (Guarantor’s request to New York Stock
              Exchange for additional trading period and commencement of second consent
              solicitation on public debt);

          

     

    	 	
            (xviii)
              Form
              8-K, filed 28 September, 2008 (relating to public debt consent
              solicitation);

          

     

    	 	
            (xix)Form
              8-K, filed 29 September, 2006 (completion of consent
              solicitation);

          

     

    	 	
            (xx)
              Form
              8-K, filed 29 September, 2006 (grant of additional trading period from
              New
              York Stock Exchange);

          

     

    	 	
            (xxi)
              Form
              8-K, filed 9 November, 2006 (execution of Supplemental Indenture No.
              8
              extending waivers on Guarantor’s public debt, release of expected
              financial results for the third quarter of 2006 and certain director
              and
              officer compensation matters); and 

          

     

    	 	
            (xxii)
              Form
              12b-25, filed 9 November, 2006.”; and

          

     

    	(iii)  	
            the
              definition of Waiver
              Termination Date
              in
              Clause 19.11(b) of the Agreement shall be deleted in its entirety and
              replaced with the following:

          

     

                   “Waiver
      Termination Date
      means
      the earlier of: 

     

              (i)
      6:00
      p.m.
      (Rochester, New York time) on 31 January, 2007; and

     

    	 	
            (ii)
              the
              date (if any) on which the trustee or holders of not less than 25 per
              cent. of the principal amount of outstanding securities under any series
              with an outstanding principal amount of at least US$50,000,000 under
              the
              Indenture have given to the Guarantor notice that the principal amount
              of
              such securities is due and payable
              immediately.".

          

     

    	4.  	
            Guarantee

          

     

         
 The
      Guarantor:

     

    	(a)  	
            agrees
              to the amendment of the Agreement as contemplated by this letter;
              and

          

     

    	(b)  	
            with
              effect from the Effective Date, confirms that the guarantee given by
              it
              under the Agreement will:

          

     

    	 	
            (i)  continue
              in full force and effect; and

          

     

    	 	
            (ii)  extend
              to the liabilities and obligations of the Company to the Finance Parties
              under the Finance Documents as amended by this
              letter.

          

     

    	5.  	
            Amendment
              fee

          

     

    	(a)  	
            In
              further consideration for the matters contemplated by this letter,
              the
              Company must pay to the Facility Agent for the account of the Lenders
              which consented on or before the date of this letter to the amendments
              to
              the Agreement contemplated by this letter (the Consenting
              Lenders)
              a
              monthly fee equal to 0.10 per cent. of the total Commitments of the
              Consenting Lenders. The first such monthly fee shall be payable no
              later
              than 1 December, 2006, and a subsequent monthly fee will be due on
              2
              January, 2007. Payments will be made to the account notified to the
              Company by the Facility Agent for this purpose. Any payment that would
              have otherwise been due and payable for December 2006 under the 30
              August,
              2006 amendment to this Agreement shall be covered by the above
              payment.

          

     

    	(b)  	
            All
              amounts payable under this letter are exclusive of any value added
              tax or
              other taxes of any nature and will not be subject to counterclaim or
              set-off for, or be otherwise affected by, any claim or dispute relating
              to
              any matter whatsoever and all such payments shall be made free and
              clear
              and without deduction for or on account of any present or future taxes,
              charges, deductions or withholdings.

          

     

    	6.  	
            Miscellaneous

          

     

    	(a)  	
            This
              letter is a Finance Document and a Fee
              Letter.

          

     

    	(b)  	
            From
              the Effective Date, the Agreement and this letter will be read and
              construed as one document.

          

     

    	(c)  	
            Except
              as otherwise provided in this letter, the Finance Documents remain
              in full
              force and effect.

          

     

    	(d)  	
            Except
              to the extent expressly waived in this letter, no waiver of any provision
              of any Finance Document is given by the terms of this letter and the
              Finance Parties expressly reserve all their rights and remedies in
              respect
              of any breach of, or other Default under, the Finance
              Documents.

          

     

    	7.  	
            Governing
              law

          

     

         
 This
      letter is governed by English law.

     

    

     

    .../s/
      Jane Horner ..

    For
      

    CITIBANK
      INTERNATIONAL PLC

    as
      Facility Agent for and on behalf of the Finance Parties

     

    Date: 13
      December, 2006

     

     

    We
      agree
      with the terms of this letter.

     

     

    .../s/
      Efrain Rivera..........................

    Efrain
      Rivera, Vice President & Treasurer

    For
      

    BAUSCH
      & LOMB B.V.

     

    Date: 13
      December, 2006

     

    

     

    .../s/
      Steven C. McCluski ..................

    Stephen
      C. McCluski

    Sr.
      Vice
      President and CFO

    For
      

    BAUSCH
      & LOMB INCORPORATED

     

    Date: 13
      December, 2006Exhibit (10)-oo

    

       

      Exhibit
        (10)-pp

       

       

      LICENSE
        AGREEMENT

       

      BETWEEN
        AND AMONG

       

      CIBA
        VISION AG,

       

      AND

       

      BAUSCH
        & LOMB INCORPORATED

       

      

       

      

       

      Confidential
        treatment has been requested for portions of this exhibit. The copy filed
        herewith omits the information subject to the confidentiality request. Omissions
        are designated with an asterisk (“*”). As part of our confidential treatment
        request, a complete version of this exhibit has been filed separately with
        the
        Securities and Exchange Commission.

       

      

       

      
        
          
            

          

           

        

        
           

          
            

          

        

        
           

          
          

        

      

      TABLE
        OF CONTENTS

       

       

      
        	
                Article
                  I - Definitions

                 

              	
                2

                 

              
	
                Article
                  II - Grants Of Licenses

                 

              	
                3

                 

              
	
                Article
                  III - Payments

                 

              	
                3

                 

              
	
                Article
                  IV - Confidentiality and Publicity

                 

              	
                5

                 

              
	
                Article
                  V - Disclaimers

                 

              	
                5

                 

              
	
                Article
                  VI - Dispute Resolution

                 

              	
                6

                 

              
	
                Article
                  VII - Marking

                 

              	
                7

                 

              
	
                Article
                  VIII - Indemnity

                 

              	
                7

                 

              
	
                Article
                  IX - Notice

                 

              	
                8

                 

              
	
                Article
                  X - Assignment

                 

              	
                8

                 

              
	
                Article
                  XI - Most Favored Nation Terms

                 

              	
                9

                 

              
	
                Article
                  XII - Miscellaneous Provisions

                 

              	
                10

                 

              

      

      

       

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      This
        License Agreement, made and entered into simultaneously with the accompanying
        Settlement Agreement this 1st
        day of
        July 2004 (the "Effective Date"), by and among the following (hereinafter
        the
“Parties”):

       

      CIBA
        Vision AG, a Swiss corporation, with its principal place of business at
        Hardhofstrasse 15, CH-8424 Embrach, Switzerland;

       

      Bausch
        & Lomb Incorporated, a New York corporation, with its principal place of
        business at 1 Bausch & Lomb Place, Rochester, New York; and

       

      WITNESSETH

       

      WHEREAS,
        the Parties are involved in various legal disputes relating to intellectual
        property rights and the enforcement thereof; and

       

      WHEREAS,
        the Parties desire to resolve certain of such disputes while minimizing the
        burden and expense of further litigation and have entered into a Settlement
        Agreement executed concurrently with this License Agreement, a copy of which
        is
        attached hereto and incorporated herein by reference.

       

      NOW,
        THEREFORE, the Parties hereby agree as follows:

       

      

       

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Article
        I  -
        Definitions

       

      1.01  “Affiliate”
shall
        mean any and all persons, corporations or business entities
        which, directly or indirectly, are controlled by, control, or are under common
        control with a Party. For this purpose, the meaning of the word “control” shall
        mean direct or indirect ownership of at least fifty percent (50%) of the voting
        shares or interest of such corporation or business entity.

       

      1.02  “B&L”
        shall mean Bausch & Lomb Incorporated, a New York corporation, with its
        principal place of business at 1 Bausch & Lomb Place, Rochester, New York,
        and its Affiliates.

       

      1.03  “CIBA”
        shall mean CIBA Vision AG, a Swiss corporation, with its principal place
        of
        business at Hardhofstrasse 15, CH-8424 Embrach, Switzerland, and its
        Affiliates.

       

      1.04  “Effective
        Date” shall mean the date first written hereinabove.

       

      1.05  “CIBA
        Patent Rights” shall mean US Patent Nos. 5,760,100; 5,789,461; 5,849,811;
        5,766,999; and 5,965,631; all other patents and patent applications in all
        countries of the world corresponding thereto, having priority derived therefrom;
        all divisional, continuation and continuation-in-part applications derived
        from
        any of the above applications or patents; all patents issuing as a result
        of the
        above patent applications; and all patents of addition, reissues,
        reexaminations, and extensions of any of the above patents.

       

      1.06  “B&L’s
        Licensed Products” shall mean contact lenses, which in the absence of this
        license agreement would infringe at least one claim of CIBA Patent Rights;
        or
        contact lenses which are made using a process or machine covered by a claim
        of
        CIBA Patent Rights. However, B&L’s Licensed Products shall not encompass or
        include CIBA’s FOCUS Night & Day contact lenses or contact lenses made from
        the specific contact lens materials in Examples A1 - G6 of US Patent No.
        5,760,100. For the purposes of determining the royalties under the Settlement,
        the Parties agree and stipulate that  *.

       

      1.07  “B&L
        Patent Rights” are US Patent Nos. 6,312,706; 6,596,294; and 5,681,510; all other
        patents and patent applications in all countries of the world corresponding
        thereto, having priority derived therefrom; all divisional, continuation
        and
        continuation-in-part applications derived from any of the above applications
        or
        patents; all patents issuing as a result of the above patent applications;
        and
        all patents of addition, reissues, reexaminations, and extensions of any
        of the
        above patents. 

       

      1.08  “CIBA’s
        Licensed Products” shall mean contact lenses, which in the absence of this
        license agreement would infringe at least one claim of B&L Patent Rights; or
        contact lenses which are made using a process or machine covered by a claim
        of
        B&L Patent Rights.

       

      1.09  “Net
        Sales” shall mean for the purposes of calculating the royalty due, in any case
        where a Licensed Product is sold or commercially disposed of for value by
        B&L or its Affiliate in an arm’s length transaction with a third party
        (other than an Affiliate of B&L) in any geographic location, the
*.

       

       

      Article
        II  -
        Grants
        Of Licenses

       

      2.01  CIBA
        hereby grants to B&L a royalty bearing, irrevocable, worldwide,
        non-exclusive license, with no right to sublicense, under the CIBA Patent
        Rights
        to make, have made, import, use, sell, and offer to sell B&L’s Licensed
        Products. 

       

      2.02  B&L
        hereby grants to CIBA a royalty-free, worldwide, irrevocable, non-exclusive
        license, with no right to sublicense, under the B&L Patent Rights to make,
        have made, import, use, sell, and offer to sell CIBA’s Licensed
        Products.

       

       

      Article
        III  -
        Payments

       

      3.01  Royalties.
        In
        consideration of the settlement of litigation and rights granted herein,
        and in
        view of the accounting and other difficulties associated with B&L’s
        providing detailed reports for sales of B&L’s Licensed Products in
        individual countries on a worldwide basis, B&L shall pay CIBA Vision AG
        royalties during the term of this Agreement of * of the Net Sales of B&L’s
        Licensed Products; said royalties being understood and deemed to constitute
        a
        reasonable valuation of the license rights and other consideration granted
        to
        B&L herein. 

       

      3.02  Effect
        of Claim Invalidity.
        If, in
        any proceeding in which the validity, infringement, or priority of invention
        of
        any claim of CIBA Patent Rights is in issue, a judgment or decree is entered
        which becomes not further reviewable through the exhaustion of all permissible
        applications for rehearing or review by a superior tribunal, or through the
        expiration of time permitted for such applications (hereinafter referred
        to as a
        "final judgment"), determining that all claims of the CIBA Patent Rights
        that
        cover the B&L Licensed Products are invalid, not infringed, and/or
        unenforceable, then, B&L shall be relieved prospectively from the date of
        such final judgment from paying royalties due for sales of B&L Licensed
        Products, which are
        both:

       

      	(a)  	
              manufactured
                in any country having no valid CIBA Patent Rights;
                and

            

       

      	(b)  	
              sold
                in that country or any other country having no valid CIBA Patent
                Rights.

            

       

      3.03  Bundled
        Products.
        If
        B&L Licensed Products are sold in a single bundled sale (including a single
        invoice or transaction) with non-licensed products, the sales price of B&L’s
        Licensed Products shall, *.

       

      3.04  Payment
        Schedule.
        Royalties under Section 3.01 of this Agreement shall be payable in US Dollars
        on
        a quarterly basis and shall be due within forty-five (45) days following
        the end
        of each of B&L’s fiscal quarters (the “Royalty Payment Dates”).

       

      3.05  Reports.
        B&L
        shall report accrued royalties due under Section 3.04 to CIBA by submitting
        a
        written report with its payments. Each such report shall include a computation
        of the royalties so accrued, including the trade designation of each of
        B&L’s Licensed Products that has been sold; the Net Sales applicable to each
        such product; a computation of the total royalties for the quarter using
        the
        applicable royalty rate (including the currency exchange rates used in such
        calculations pursuant to Section 3.07); and any credit against royalties
        due
        B&L for returns. An authorized representative of B&L shall state that
        such report is computed in compliance with the contractual requirements of
        this
        Agreement. B&L shall pay to CIBA interest * per annum on all royalties not
        paid when due. In the event past due royalties, found by an arbitrator to
        be due
        and payable, are collected through bankruptcy or judicial proceedings by
        an
        attorney or placed in the hands of an attorney for collection, then B&L
        agrees to pay CIBA's reasonable attorneys' fees and other costs of
        collection.

       

      3.06  Records
        and Inspection.
        B&L
        shall keep true and accurate records, files, and books of account containing
        all
        the data reasonably required for the full computation and verification of
        the
        royalties to be paid and the information to be given in accompanying reports.
        CIBA’s designated agent (under obligation of strict confidentiality), shall,
        upon written request to B&L, be entitled at CIBA's sole cost and expense to
        inspect pertinent books and records of B&L in Rochester, New York, once each
        calendar year to determine the accuracy and completeness of any report made
        to
        CIBA. In the event such examination reveals any discrepancy between the
        royalties actually paid by B&L during the period covered by the examination
        and the amount actually due under this Agreement, B&L shall pay to CIBA the
        amount of * in the case of an underpayment and CIBA shall reimburse B&L the
        amount of * in the event of an overpayment. In the event an underpayment
        represents ten percent (10%) or more of the amount payable for such period,
        B&L shall pay to CIBA the sum of * per annum. B&L agrees to retain such
        books, records and accounts for a period of at least three (3) years after
        the
        close of the period to which such books, records and accounts
        relate.

       

      3.07  Currency.
        All
        royalty payments shall be made in United States Dollars. For purposes of
        determining the applicable royalty rate to be paid according to Section 3.01
        above, the Net Sales shall be converted on a country-by-country basis each
        month
        from the currency used in each such country to United States Dollars. The
        relevant exchange rate shall be the rate set by B&L’s corporate finance
        department on a monthly basis, in accordance with its standard policies and
        procedures consistently applied, and consistent with the methodology applied
        in
        B&L’s consolidated audited financials.

       

       

      Article
        IV  -
        Confidentiality and Publicity

       

      4.01  The
        financial terms of this License Agreement are to be kept confidential and
        not
        disclosed to any third-party, except as required by law, court order, or
        the
        requirement of a securities exchange on which the Party's securities are
        traded,
        in each case as reasonably determined by such Party based on the opinion
        of its
        external counsel.

       

      4.02  
        The
        Parties agree not to issue any press release disclosing the existence of
        or
        relating to this Agreement; except as attached at Appendix A, or upon mutual
        agreement, in writing, between the Parties.

       

      

        

        
          *
            Certain
            information on this page has been omitted and filed separately with the
            Securities and Exchange Commission. Confidential treatment has been requested
            with respect to the omitted portions.  

        

        
          *
            Certain
            information on this page has been omitted and filed separately with the
            Securities and Exchange Commission. Confidential treatment has been requested
            with respect to the omitted portions.  

           

        

        
          *
            Certain
            information on this page has been omitted and filed separately with the
            Securities and Exchange Commission. Confidential treatment has been requested
            with respect to the omitted portions.  

           

        

      

      4.03  The
        Parties agree not to issue any press release disclosing the existence of
        or
        relating to this Agreement; except as attached at Appendix A, or upon mutual
        agreement, in writing, between the Parties.

       

      4.04  In
        publicizing anything made, used, or sold under the licenses granted in this
        Agreement, no Party shall use the name of any other Party or otherwise refer
        to
        any Affiliate thereof, except with the written approval of the other
        Party.

       

       

      Article
        V  -
        Disclaimers

       

      5.01  Nothing
        in this Agreement shall be construed as:

       

      	(a)  	
              A
                warranty or representation by any Party as to the validity,
                enforceability, or scope of its own Patent Rights;
                or

            

       

      	(b)  	
              A
                warranty or representation that anything made, used, sold, or otherwise
                disposed of under any license granted in this Agreement is or will
                be free
                from infringement of patents of third persons;
                or

            

       

      	(c)  	
              A
                requirement that any Party shall file any patent application, secure
                any
                patent, or maintain any patent in force;
                or

            

       

      	(d)  	
              An
                obligation to bring or prosecute actions or suits against third parties
                for infringement of any patent; or

            

       

      	(e)  	
              An
                obligation to furnish any manufacturing or technical information,
                or any
                information concerning pending patent applications;
                or

            

       

      	(f)  	
              Conferring
                a right to use in advertising, publicity, or otherwise any trademark
                or
                tradename of any Party from which a license is received under this
                Agreement.

            

       

      5.02  No
        non-assertion, immunity, covenant not to sue, or license is given, by
        implication or otherwise, with respect to any technology, patent application
        or
        patent, except as set forth in the accompanying Settlement Agreement and
        in
        Article II. Particularly, no rights are granted herein under US Patent No.
        4,711,943 (the “Harvey Patent”); and B&L will remain enjoined from making,
        importing, using, offering for sale, or selling in the United States contact
        lens materials and contact lenses made from *,
        until
        after the expiration of the Harvey Patent, April 26, 2005.

       

       

      Article
        VI  -
        Dispute Resolution

       

      6.01  In
        the
        event of any dispute, claim, question, or disagreement arising from or relating
        to this agreement or the breach thereof, the parties hereto shall use their
        best
        efforts to settle the dispute, claim, question, or disagreement. To this
        effect,
        they shall consult and negotiate with each other in good faith and, recognizing
        their mutual interests, attempt to reach a just and equitable solution
        satisfactory to both parties. If they do not reach such solution within a
        period
        of 60 days, then, upon notice by either party to the other, all disputes,
        claims, questions, or differences shall be finally settled by arbitration
        administered by the American Arbitration Association (“AAA”) in accordance with
        the provisions of its Patent Arbitration Rules, and judgment may be entered
        by a
        court having jurisdiction thereof. 

       

      6.02  The
        arbitration shall be conducted by three (3) arbitrators selected in accordance
        with Rule 12 of the Patent Arbitration Rules. Prior to the commencement of
        hearings, each of the arbitrators appointed shall provide an oath or undertaking
        of impartiality.

       

      6.03  The
        place
        of arbitration shall be Washington, District of Columbia.

       

      6.04  In
        any
        arbitration between the Parties, the validity or enforceability of any B&L
        Patent Rights or of any CIBA Patent Rights shall not be contested and the
        claims
        of the CIBA Patent Rights shall be construed as set forth in Judge Richard
        Story’s Order on claim construction, dated March 14, 2003.

       

      6.05  If
        the
        time limit of Section 6.06 is extended at the opposed request of, or made
        necessary by, B&L, then B&L shall place in escrow with the American
        Arbitration Association, as the escrow agent, disputed royalties due under
        this
        agreement, pending the outcome of the arbitration. The escrow agent shall
        be
        entitled to release the royalties as directed by the arbitrators in the award,
        unless the parties agree otherwise in writing.

       

      6.06  The
        award
        shall be made within three (3) months of the filing of the notice of intention
        to arbitrate (demand), and the arbitrators shall agree to comply with this
        schedule before accepting appointment. However, this time limit may be extended
        by agreement of the parties or by the arbitrators if necessary.

       

      6.07  The
        award
        shall be in writing, shall be signed by a majority of the arbitrators, and
        shall
        include a statement setting forth the reasons for the disposition of any
        claim.

       

      6.08  The
        arbitrators shall award to the prevailing party, if any, as determined by
        the
        arbitrators, all of its costs and fees. "Costs and fees" mean all reasonable
        pre-award expenses of the arbitration, including the arbitrators' fees,
        administrative fees, travel expenses, out-of-pocket expenses such as copying
        and
        telephone, court costs, court reporters’ fees, witness fees, and attorneys'
        fees.

       

      6.09  No
        party
        nor an arbitrator may disclose the existence, content, or results of any
        arbitration hereunder without the prior written consent of both parties,
        except
        as may be required by law, court order, or the requirement of a securities
        exchange on which the Party's securities are traded, in each case as reasonably
        determined by such Party based on the opinion of its external
        counsel.

       

      6.10  The
        United States Arbitration Act shall govern the interpretation and enforcement
        of
        Article VI, and any proceedings carried out thereunder. 

       

       

      Article
        VII  -
        Marking

       

      7.01  Upon
        execution of this Agreement, both Parties will make commercially reasonable
        efforts to begin affixing the applicable U.S. patent numbers for the other’s
        Patent Rights to the box packaging for all of their respective Licensed Products
        sold in the U.S. in accordance with 35 U.S.C. § 287. 

       

      7.02  Each
        Party shall ensure product marking is completed (for product packaged after
        the
        Effective Date) within a commercially reasonable time period after the Effective
        Date, but in no case shall it be completed later than April 26, 2005.

       

      7.03  The
        Parties agree that the terms of this Article will be satisfied by listing
        the
        appropriate U.S. Patent Rights on the package preceded by the language, “Mfg.
        and/or Licensed under one or more of the following:” or substantially similar
        language.

       

       

      Article
        VIII  -
        Indemnity 

       

      8.01  B&L
        shall indemnify and hold CIBA and its predecessors, successors, assigns,
        parents, subsidiaries, and affiliated corporations, and each and all of their
        present and former officers, directors, partners, principals, employees,
        shareholders, trustees, attorneys, insurers, suppliers and customers (direct
        or
        indirect) acting in their capacity as suppliers to and/or customers of CIBA,
        their respective spouses, successors, heirs, executors, estates, administrators,
        representatives, attorneys and agents, harmless from and against any third
        party
        claims, judgments, damages, costs (including attorneys’ fees) and expenses
        arising out of B&L’s making, having made, importing, using, selling or
        offering for sale B&L’s Licensed Products.

       

      8.02  CIBA
        shall indemnify and hold B&L and its predecessors, successors, assigns,
        parents, subsidiaries, and affiliated corporations, and each and all of their
        present and former officers, directors, partners, principals, employees,
        shareholders, trustees, attorneys, insurers, suppliers and customers (direct
        or
        indirect) acting in their capacity as suppliers to and/or customers of B&L,
        their respective spouses, successors, heirs, executors, estates, administrators,
        representatives, attorneys and agents, harmless from and against any third
        party
        claims, judgments, damages, costs (including attorneys’ fees) and expenses
        arising out of CIBA’s making, having made, importing, using, selling or offering
        for sale CIBA’s Licensed Products.

       

       

      Article
        IX  -
        Notice

       

      9.01  Notice.
        Any
        notice, report, or payment provided for in this agreement shall be deemed
        sufficiently given when sent by certified or registered mail addressed to
        the
        Party for whom intended at the address given below or at such changed address
        as
        the party shall have specified by written notice.

       

      	(a)  	
              For
                CIBA:                
                CIBA
                Vision AG

            

        
        Hardhofstrasse 15

        
        CH-8324 Embrach

        
        SWITZERLAND

        
        ATTN: Legal Department

       

      With
        a
        copy to               
CIBA
        Vision Corporation

        
        Vice President and General Counsel

        
        11460 Johns Creek Parkway

        
        Duluth, GA 30092

       

      	(b)  	
              For
                B&L:                  
                Bausch
                & Lomb, Inc.

            

      Senior
        Vice President & General Counsel 

      One
        Bausch & Lomb Place

      Rochester,
        NY 14604

       

       

      Article
        X  -
        Assignment

       

      10.01  Assignment.
        The
        License Agreement imposes personal obligations on both Parties. Neither Party
        may assign any rights, except to an Affiliate, under the License Agreement
        without the written consent of the other Party. Any such attempt to assign
        shall
        be null and void. However, the License Agreement may be transferred without
        consent as part of the sale or transfer of substantially the entire business
        of
        a Party to which the Licensed Products relate.

       

      10.02  Assigns.
        The
        rights and obligations of the Parties shall inure to the benefit of and shall
        be
        binding upon the Parties, their respective successors, assigns, heirs, and
        personal representatives.

       

       

       

      

        

        
          *
            Certain
            information on this page has been omitted and filed separately with the
            Securities and Exchange Commission. Confidential treatment has been requested
            with respect to the omitted portions.  

           

        

      

       

      Article
        XI  -
        Most Favored Nation Terms

       

      11.01  Financial
        Terms.“Financial
        Terms,” as used herein, shall include, but not be limited to,
*.

       

      11.02  Notice.
        If CIBA
        enters into a Future Agreement under which it grants a license under the
        CIBA
        Patent Rights for products competitive with the B&L Licensed Products, in
        any or all of the Major Markets, defined herein as the United States, Japan
        or
        Worldwide, CIBA shall notify a mutually acceptable independent accounting
        firm
        of recognized national standing (“Arbitrator”) of the Financial Terms of the
        Future Agreement. If the Arbitrator deems the Financial Terms for one or
        more of
        the Major Market, judged as a whole for each Major Market, to be potentially
        more favorable (“Potentially More Favorable Financial Terms”) than those set
        forth in this Agreement, then the Arbitrator shall give written notice to
        B&L of the More Favorable Financial Terms.

       

      11.03  Substitution
        Right.
        If the
        parties agree or it is otherwise judged in arbitration as set forth hereinbelow
        that the Potentially More Favorable Financial Terms for a Major Market are
        actually more favorable than those in this Agreement, then B&L shall have
        the option of electing to substitute, as a whole for such Major Market,
        prospectively from the effective date of the Future Agreement, the Potentially
        More Favorable Financial Terms for said Major Market for the financial terms,
        as
        a whole, set forth in this Agreement for said Major Market. This option shall
        expire unless exercised by giving CIBA written notice within sixty (60) days
        of
        B&L’s receipt of notice of the More Favorable Financial Terms.

       

      11.04  Valuation
        Basis.
        The
        parties expressly agree that the valuation shall be based solely on Financial
        Terms in the Future Agreement (including any other agreements which relate
        or
        refer to the Future Agreement) as compared solely to financial terms in this
        Agreement.

       

      11.05  Arbitration.
        If,
        after negotiating in good faith, the parties fail to reach agreement on the
        valuation for each Major market within sixty (60) days after B&L receives
        notice of the More Favorable Financial Terms, then the valuation of the More
        Favorable Financial Terms relative to the financial terms of this Agreement
        shall be determined by a mutually acceptable independent accounting firm
        of
        recognized national standing by binding, final arbitration.

       

       

      Article
        XII  -
        Miscellaneous Provisions

       

      12.01  Governing
        Law and Jurisdiction.
        Except
        as provided for in Section 6.10, this Agreement shall be governed by and
        construed in accordance with the internal substantive and procedural laws
        of the
        State of New York without regard to conflict of laws principles. Further,
        to the
        extent necessary to enforce the provisions of Section 6.01 and awards granted
        pursuant thereto, the Parties agree that the United States District Court
        for
        the Northern District of Georgia will retain jurisdiction over the Parties
        and
        this matter pursuant to Kokkonen
        v. Guardian Life Ins. Co.,
        511
        U.S. 375 (1994).

       

      12.02  Term.
        This
        Agreement shall run from the Effective Date to the expiration of the
        last-to-expire of the Parties’ Patent Rights. However, the terms of Section 4.01
        and Article VIII will survive the termination or expiration of the
        Settlement.

       

      12.03  Headings.
        The
        headings appearing herein have been inserted solely for the convenience of
        the
        parties hereto and shall not affect the construction, meaning or interpretation
        of this Agreement.

       

      12.04  Integration.
        The
        terms and provisions contained in this License Agreement and the attached
        Settlement Agreement constitute the entire agreement and understanding between
        the parties regarding the subject matter of this Agreement. No party to this
        Agreement has relied or will rely on any representation or agreement of the
        other except to the extent set forth herein, and no party to this Agreement
        shall be bound by or charged with any oral, written or implied agreements,
        representations, warranties, understandings, commitments or obligations not
        specifically set forth herein. This Agreement may not be released, discharged,
        abandoned, changed or modified in any manner except by an instrument in writing
        signed by a duly-authorized officer of each of the parties hereto.

       

      12.05  Non-Waiver.
        The
        failure of either Party at any time to require performance by the other Party
        of
        any provisions of this Agreement shall in no way affect the right of such
        Party
        to require future performance of that provision. Any waiver by either Party
        of
        any breach of any provision of this Agreement shall not be construed as a
        waiver
        of any continuing or succeeding breach of such provision, a waiver of the
        provision itself, or a waiver of any right under this Agreement.

       

      12.06  Counterparts.
        This
        Agreement may be executed in separate counterparts, each of which so executed
        and delivered shall constitute an original, but all such counterparts shall
        together constitute one and the same instrument. Any such counterpart may
        comprise one or more duplicates or duplicate signature pages, any of which
        may
        be executed by less than all of the Parties, provided that each Party executes
        at least one such duplicate or duplicate signature page. The Parties stipulate
        that a photostatic copy of an executed original will be admissible in evidence
        for all purposes in any proceeding as between the Parties.

       

      12.07  Power
        and Authorization.
        Each
        Party represents and warrants that it has all requisite power and authority
        (corporate and otherwise) to enter into this Agreement, and has duly authorized
        by all necessary action the execution and delivery hereof by the officer
        or
        individual whose name is signed on its behalf below.

       

      12.08  Right
        to Grant License.
        CIBA
        represents and warrants in respect to the CIBA Patent Rights that it has
        legal
        power to extend the rights granted to B&L in this Agreement and that it has
        not made and will not make any commitments to others inconsistent with or
        in
        derogation of such rights. CIBA represents and warrants that CIBA Vision
        Corporation, a Delaware corporation, with its principal place of business
        at
        11460 Johns Creek Parkway, Duluth, Georgia, is an Affiliate, as that term
        is
        defined herein, of CIBA Vision AG and that CIBA Vision AG has the entire
        right
        to extend the rights granted to B&L in this Agreement.

       

      12.09  Interpretation
        and Construction.
        This
        Agreement has been fully and freely negotiated by the Parties hereto with
        the
        advice of legal counsel, shall be considered as having been drafted jointly
        by
        the Parties hereto, and shall be interpreted and construed as if so drafted,
        without construction in favor of or against any Party on account of its
        participation in the drafting hereof.

       

      12.10  Acknowledgement.
        Each
        party has executed this Agreement without reliance upon any promise,
        representation or warranty other than those expressly set forth herein. Each
        party acknowledges that (i) it has carefully read this Agreement, (ii) it
        has
        had the assistance of legal counsel of its choosing (and such other
        professionals and advisors as it has deemed necessary) in the review and
        execution hereof, (iii) the meaning and effect of the various terms and
        provisions hereof have been fully explained to it by such counsel, (iv) it
        has
        conducted such investigation, review and analysis as it has deemed necessary
        to
        understand the provisions of this Agreement and the transactions contemplated
        hereby, and (v) it has executed this Agreement of its own free
        will.

       

      [SIGNATURE
        PAGE FOLLOWS]

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Each
        of
        the parties hereto has caused this Agreement to be executed by its respective
        duly-authorized officer as of the day and year first written above.

       

      CIBA
        VISION AG

       

      

       

       

      BY:
        __/s/
        [Signatory Illegible]____________________

       

      TITLE:
        Regional Finance Officer Europe

      DATE:
        July 1, 2004

       

      BAUSCH
        & LOMB INCORPORATED

       

      

       

      

       

      BY:
        Robert B. Stiles

       

      TITLE:
        Senior Vice President and general Counsel

       

      DATE:
        July 1, 2004

       

      

       

      

        

        
          *
            Certain
            information on this page has been omitted and filed separately with the
            Securities and Exchange Commission. Confidential treatment has been requested
            with respect to the omitted portions.

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