SEC Contract Filing

Filing Date: 2016-04-06

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d175229dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>EXECUTION VERSION </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TERMINATION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This TERMINATION AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of April 6, 2016, is by and among Pfizer Inc., a Delaware corporation
(the &#147;<U>Company</U>&#148;), Allergan plc, an Irish public limited company (&#147;<U>Parent</U>&#148;), Watson Merger Sub Inc., a Delaware corporation and a direct wholly owned Subsidiary of Parent (&#147;<U>Merger Sub</U>&#148;), and Allergan
Medical GmbH (f/k/a Allergan Medical S.&Agrave;.R.L.), a wholly owned Subsidiary of Parent (&#147;<U>Medical</U>&#148;) (each, a &#147;<U>Party</U>&#148; and collectively, the &#147;<U>Parties</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties entered into that certain Agreement and Plan of Merger, dated as of November 22, 2015 (as amended on March 4, 2016 by
Amendment No. 1, the &#147;<U>Merger Agreement</U>&#148;, and capitalized terms used herein and not defined having the meanings assigned thereto in the Merger Agreement); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties acknowledge that, on April 4, 2016, an &#147;Adverse Tax Law Change&#148; (as defined in the Merger Agreement) occurred;
and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, as result of such Adverse Tax Law Change, the Parties desire to terminate the Merger Agreement by mutual written consent,
and to release each other from all claims, obligations and liabilities arising out of, in connection with or relating to the Merger Agreement, in each case, on the terms and subject to the conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the covenants and agreements herein set forth and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.
<U>Termination</U>. Pursuant to Section 8.1(a) of the Merger Agreement, the Parties hereby agree that the Merger Agreement, including all schedules and exhibits thereto, and all ancillary agreements contemplated thereby (collectively, the
&#147;<U>Transaction Documents</U>&#148;), are hereby terminated effective immediately on the date hereof (the &#147;<U>Termination Time</U>&#148;) and, notwithstanding anything to the contrary in the Transaction Documents, including Section 8.2 of
the Merger Agreement, the Transaction Documents are terminated in their entirety and shall be of no further force or effect whatsoever (the &#147;<U>Termination</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Expenses</U>. The Company agrees to pay Parent $150,000,000.00 (which payment shall be in respect of Parent&#146;s costs, fees and
expenses incurred in connection with the authorization, preparation, negotiation, execution, performance and termination of the Transaction Documents and the Transactions) (the &#147;<U>Expense Reimbursement</U>&#148;) by wire transfer to an account
designated by Parent, which Expense Reimbursement shall be made within three (3) business days of the Termination Time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Mutual
Release; Disclaimer of Liability</U>.&nbsp;Each of the Company and Parent, each on behalf of itself and each of its respective successors, Subsidiaries (in the case of Parent, including Merger Sub and Medical), Affiliates, divisions, assignees,
officers, directors, employees, representatives, agents, shareholders and advisors (the &#147;<U>Releasors</U>&#148;), does, to the fullest extent permitted by Law, hereby fully release, forever discharge and covenant not to sue any other Party, any
of their respective successors, Subsidiaries, Affiliates, divisions or assignees, and any of their respective present or former officers, directors, employees, representatives, agents, shareholders, financial advisors, auditors, attorneys, heirs,
administrators, devisees or legatees (collectively the &#147;<U>Releasees</U>&#148;), from and with respect to any and all liability, </P>

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claims, rights, actions, causes of action, suits, liens, obligations, accounts, debts, demands, agreements, promises, liabilities, controversies, costs, charges, damages, expenses and fees
(including attorney&#146;s, financial advisor&#146;s or other fees) (&#147;<U>Claims</U>&#148;), howsoever arising, whether based on any Law or right of action, known or unknown, mature or unmatured, contingent or fixed, liquidated or unliquidated,
accrued or unaccrued, which Releasors, or any of them, ever had or now have or can have or shall or may hereafter have against the Releasees, or any of them, in connection with, ar