SEC Contract Filing

Filing Date: 2020-04-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>mnkexhibit101472020.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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 <title>Exhibit</title>
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<div><a name="s7594ff8b912b419097ba71545c8e26c9"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXCHANGE AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Exchange Agreement (together with the exhibits, annexes and schedules attached hereto, this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of April 7, 2020, is by and among (x) Mallinckrodt International Finance S.A., a soci&#233;t&#233; anonyme existing under the laws of Luxembourg (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">MIFSA</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Mallinckrodt CB LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">U.S. Co-Issuer</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with MIFSA, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Issuers</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Mallinckrodt plc, a public limited company incorporated in Ireland and the ultimate parent entity of the Issuers (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Mallinckrodt Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with the Issuers, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Mallinckrodt Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and (y) each undersigned holder (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Noteholder Party</font><font style="font-family:inherit;font-size:12pt;">&#8221;, and collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Noteholder Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of certain 4.875% Senior Notes due 2020 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221;) issued by MIFSA and U.S. Co-Issuer under that certain indenture governing the Existing Notes (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Indenture</font><font style="font-family:inherit;font-size:12pt;">&#8221;). The Mallinckrodt Parties and the Noteholder Parties are referred to herein collectively as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Parties</font><font style="font-family:inherit;font-size:12pt;">.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, it is contemplated that all of the Existing Notes beneficially owned (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange Act</font><font style="font-family:inherit;font-size:12pt;">&#8221;)) by each Noteholder Party (or for which such Noteholder Party acts as discretionary investment manager, advisor or sub-advisor with authority to bind a beneficial owner of Existing Notes), including Existing Notes held through a custodial account beneficially owned by such Noteholder Party, be exchanged on the date hereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange</font><font style="font-family:inherit;font-size:12pt;">&#8221;) for certain notes to be issued by the Issuers pursuant to an indenture in the form set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:12pt;">&#32;(such indenture, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">New Indenture</font><font style="font-family:inherit;font-size:12pt;">&#8221;, and such notes, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">New Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Parties are entering into this Agreement to provide for the terms and conditions of the Exchange.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE,