SEC Contract Filing

Filing Date: 2019-01-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101branningemployme.htm
<DESCRIPTION>EXHIBIT 10.1 - BRANNING EMPLOYMENT AGREEMENT
<TEXT>
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<div><a name="s4054ABA7E92F723109217CDBE5ADACC5"></a></div><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;">EMPLOYMENT 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 Employment Agreement (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is entered into as of January 21, 2019, by and among Amneal Pharmaceuticals LLC (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amneal</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Amneal Pharmaceuticals, Inc. (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Holdings</font><font style="font-family:inherit;font-size:12pt;">&#8221;, and together with Amneal, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and Todd Branning (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, collectively with Amneal and Holdings, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">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;">WITNESSETH:</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, effective January 22, 2019 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Company desires to employ the Executive as Senior Vice President, Chief Financial Officer, and the Executive desires to be so employed by the Company, upon the terms and subject to the conditions set forth in this Agreement; 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 Company and the Executive desire to enter into this Agreement as to the terms and conditions of the Executive&#8217;s employment with the Company effective as of the Effective Date.</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, in consideration of the covenants and agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:0px;"><font style="font-family:inherit;font-size:12pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">EMPLOYMENT AND DUTIES</font></div></td></tr></table><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;">1.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term of Employment</font><font style="font-family:inherit;font-size:12pt;">. Subject to Section 8.2 below, the Executive&#8217;s initial term of employment under this Agreement shall commence on the Effective Date and shall continue until the third anniversary thereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Initial Term</font><font style="font-family:inherit;font-size:12pt;">&#8221;), unless further extended or earlier terminated as provided in this Agreement. This Agreement will automatically be renewed for single one-year periods unless written notice of non-renewal (a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Non-Renewal Notice</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is provided by any party at least 90 days prior to the end of the Initial Term or the successive one-year period then in effect or unless earlier terminated as provided in this Agreement. Neither non-renewal of this Agreement for additional periods after the third anniversary of the Effective Date, nor expiration of this Agreement as a result of such non-renewal, shall, by itself, result in termination of the Executive&#8217;s employment. The period of time between the Effective Date and the termination of the Executive&#8217;s employment under this Agreement shall be referred to herein as the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Term.</font><font style="font-family:inherit;font-size:12pt;">&#8221;</font></div><div style="line-height:120%;padding-bottom:1