SEC Contract Filing

Filing Date: 2015-01-27

Document Content:
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<TYPE>EX-10.6
<SEQUENCE>8
<FILENAME>d858380dex106.htm
<DESCRIPTION>EX-10.6
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO THE
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1979 NONQUALIFIED STOCK OPTION PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on June&nbsp;15, 2014, Medtronic, Inc. (&#147;<U>Medtronic</U>&#148;) entered into a Transaction Agreement with Covidien plc and the
other parties named therein (the &#147;<U>Transaction Agreement</U>&#148;) to acquire Covidien through the formation of a new holding company incorporated in Ireland that will be renamed Medtronic plc (the &#147;<U>Transaction</U>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Medtronic maintains the Medtronic, Inc. 1979 Nonqualified Stock Option Plan, as amended (the &#147;<U>1979 Option Plan</U>&#148;);
and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in connection with the Transaction, the 1979 Option Plan is being assumed by Medtronic plc and certain technical changes are
required in connection with the Transaction and assumption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, the 1979 Option Plan shall be and hereby is amended in the
following respects, effective as of the Effective Time (as defined in the Transaction Agreement): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">References to &#147;Medtronic, Inc.&#148; are hereby replaced with references to &#147;Medtronic plc&#148;. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">&#147;Company&#148; is hereby defined to mean Medtronic plc, an Irish public limited company. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">&#147;Common Stock&#148; is hereby defined to mean ordinary shares, par value $0.0001, of the Company. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top">&#147;Subsidiary&#148; is hereby defined as having the meaning set forth in section 155 of the Companies Act 1963 of the Republic of Ireland; provided that, to the extent required to avoid the imposition of additional
taxes under Section&nbsp;409A of the Code, an entity shall not be treated as a Subsidiary unless it is also an entity in which the Company has a &#147;controlling interest&#148; (as defined in Treas. Reg. Section&nbsp;1.409A-1(b)(5)(ii)(E)(1)),
either directly or through a chain of corporations or other entities in which each corporation or other entity has a &#147;controlling interest&#148; in another corporation or entity in the chain, as determined by the Committee. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top">The following language is hereby added to the first sentence of the second paragraph of Section VII(A)(b), immediately preceeding clause (ii): &#147;to the extent permitted by law,&#148;. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top">The following language is hereby added to the first sentence of the second paragraph of Section VII(A)(c): &#147;To the extent permitted by law,&#148;. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top">The following language is hereby added to the end of Section VII(A)(g): &#147;The foregoing provisions of this paragraph (g)&nbsp;shall be available to the Company to the extent permitted by applicable law.&#148;
</TD></TR></TABLE>

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