展品10.1
堡氏健康公司股份有限公司
僱傭協議
這份僱傭協議（以下簡稱“Ag協議2024年7月15日（“生效日期。”）由英屬哥倫比亞省公司包氏保健公司（“bausch health”或“公司公司）和Jean-Jacques Charhon先生（以下統稱爲“高管”）各方”）。在特定情況下，對公司的引用應包括公司的子公司、關聯公司以及一切權利承受人。
前言
鑑於公司希望僱用執行官在本協議規定的期限內，並且執行官希望接受公司的這一僱傭，以本協議所規定的條款和條件爲準。
因此，考慮到各方所包含的各自協議，同意如下:
1.開工日期; 任期。執行董事根據本協議的僱傭期限（“高管執行副總裁-戰略增長倡議的職務層次“”）應在2024年8月5日或雙方另行約定的日期開始，但不得遲於2024年9月2日（執行董事根據本公司聘用條款實際開始工作的日期“啓動日期”）並在開工日期的第三（3）週年結束。之後，僱傭條款將自動延長爲連續的一年，除非任一方在現行僱傭條款結束前不少於九十（90）天提供不續訂的通知。
2.就業狀況在僱傭期間：
(a)執行官將被聘爲首席財務官。執行官將直接向公司首席執行官彙報。執行官將履行通常由類似的高級職務人員履行的職責、承擔的責任和行使的權利。
(b)除了執行享有的假期和病假，以及本合同中約定的公司之外的其他服務，行業板塊董事應將全部專業時間和精力投入到公司的業務和事務中，履行其在本合同項下的責任。 2(b)部分中規定的重新分配將在第二次修正生效日期上發生。在加入或同意擔任企業、公益或慈善董事會或委員會之前，執行需獲得首席執行官的書面批准。行業板塊可以管理個人和家庭投資，在行業組織中參與，並在教育機構發表演講，只要這些活動不會不合理地干擾其在此項下的職責履行。應理解，在公司聘用期間，行業板塊不得從事任何與公司或其直接或間接子公司利益相沖突的活動，如公司員工和高管不時實行的有關僱員和高管的利益衝突政策所述。
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(c)高管應當遵守適用於高管的每一項人事政策，包括但不限於公司高管股票抵押和套保投資限制政策、股票所有權政策、公司採納的關於追回激勵報酬（有時稱爲「收回」）的政策以及根據法律和適用的上市規定的任何追回規定，明確避免，在bausch health公司補償追收政策下。 本協議中的條款和目的，用於購買額外的公司股票。 在僱傭期結束後仍然有效。
(d)視乎而定 第 7 節, 8 和 9 因此，高管在公司的聘用是 「隨意」 的，因此每位高管或公司都有能力隨時終止高管的聘用，無論是否事先通知（本協議第7節要求的範圍除外），有無原因，有無正當理由。本協議不構成繼續或長期僱傭的明示或暗示協議。行政人員僱用的隨意性質只能通過書面協議來改變，具體說明行政人員就業狀況的變化。此類書面協議必須由公司的執行官和首席執行官簽署。
3.年度薪酬。
(a)基本薪酬在僱傭期間，執行人應每年獲得70萬美元的年薪（“基本工資”）。基本工資應按照公司當時有效的常規工資支付規定支付。在僱傭期間，基本工資將每年進行審核，並由公司首席執行官和董事會人才和薪酬委員會酌情調整（“委員會”).
(b)年度現金績效獎金根據公司不時有效的年度激勵現金獎勵計劃條款，以及本協議的規定，在僱傭期內，對於公司截止日爲財年，執行人應有資格獲得年度現金獎金（「年度獎金」），目標年度現金獎金機會爲基本工資的60%（此目標獎金，如以後增加，爲「」）, 有機會獲得的最大年度現金獎金爲目標獎金的200%;目標獎金”，對於2024財年，執行人的年度獎金應按照執行人在此財年起始日期後在公司就職的天數比例計算； 在每種情況下，該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時； 公司對於任何適用財年中執行人獲得的實際年度獎金，如果有的話，將由公司自行決定並按照公司適用於公司同等級別高管的常規慣例支付（在所有情況下，最遲將於年度獎金涉及的日曆年度的次年3月15日支付），視爲執行人在適用支付日期之前持續受僱。
4.額外補償。
(a)一次性登錄獎勵。自生效之日起，高管將有資格獲得30萬美元的一次性簽約獎金（”登錄獎勵”)，減去任何所需的預扣稅，應在初始預扣稅後的三十 (30) 天內支付
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生效日期。如果執行官在生效日期後的前兩年內自動辭職而沒有良好理由（如本協議第5
部分中所定義的），或者因「原因」（如本協議第7(c)部分中所定義的）被解僱，執行官將被要求在向執行官支付所有適用的預扣和稅款後，迅速償還執行官獲得的簽約獎金。 本協議第7（e）條 如果執行官在生效日期後的前兩年內因自願辭職而沒有充分理由（如本協議第5部分定義），或因本協議第7(c)部分定義的「原因」而被解僱，執行官必須迅速償還執行官在支付所有相關預扣款和稅款後獲得的簽字獎金。
(b)一次性的初始股權獎勵。執行人將根據Bausch Health公司2014年全權激勵計劃（經修訂和重新制定，以下簡稱“401(k)計劃的僱主貢獻”）獲得一項限制性股票單位（“RSUs支付”）的數量，授予日公平價值約爲1,750,000美元（下稱“初始限制性股票獎勵”）和一定數量的績效限制性股票單位（“帶市場條件的績效型RSUs”)的目標授予日期公允價值約爲$1,750,000（“初始PRSU獎勵”和初始RSU獎勵一起，“初始獎勵”。初始獎勵將盡快授予執行管理層，並將受該計劃和適用授予協議的條款和條件約束，該協議將提供給執行管理層。
(c)關於g股權津貼開始從公司的2025財政年度開始，在雇用期間內，執行會被視為有資格每年獲得股權津貼，其年度總目標授予日期價值由委員會自行決定； 提供 對於公司2025財政年度，執行的年度股權津貼的總授予日期價值將設定為約300萬美元並將以股權獎勵的形式交付，與2025財政年度提供給同等處境的高管的年度股權津貼的組合保持一致。這些每年的股權津貼將受限於底層股權授予文件中規定的條款和條件，每種情況均由委員會自行決定。
5.分享所有權承諾。執行人同意遵守公司適用於執行人的任何股權要求，其條件應與公司同等境遇的高管相同。
6.其他福利在僱傭期間：
(a)員工福利執行人應有權參加公司維護並向公司全體員工開放的僱員福利計劃、做法和方案（考慮到地域差異），包括但不限於所有養老金、退休金、利潤分享、儲蓄、醫療、住院、殘疾、牙科、人壽或旅行意外保險福利計劃，須遵照和符合不時生效的計劃條款進行。執行人在此類計劃、做法和方案中的參與應根據適用於這些員工的基礎和條款，進行。
(b)商業快遞p感官。在根據公司不時生效的正常政策和程序提交適當的發票後，高管有權立即獲得高管因履行本協議規定的高管職責而產生的所有合理的自付業務、娛樂和差旅費用的報銷。
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(c)休假和病假。執行者應有權在本協議下，根據以下規定，自願缺席執行者的工作，而不會失去報酬：
(1)執行人應根據公司定期爲同等級別高管制定的政策，享受年度假期。
(2)根據公司不時有效的政策，高管有權享受病假（不減薪）。
7. 終止根據下文的情況，公司可以終止執行董事的就業關係；rovided, 但是儘管本協議中的任何內容與之相反，在1986年修訂的《內部稅收法》第409A條的要求範圍內（「稅法」）及其頒佈的規定和指導下，代碼”和制定的法規和指導（“第409A條款，如果2018年計劃中的一個獎項受到稅務法案第409A條款的約束，但不符合稅務法案第409A條款的要求，則上述應稅事件可能應早於所述，並可能導致額外的稅收和處罰。參與者被敦促就稅務法案第409A條款對他們的獎項的適用性諮詢他們的稅務顧問。在本協議範圍內，直至執行董事被視爲在公司內發生「依照第409A條款作出的」服務分離時，不應被視爲已經終止。
(a)死因。執行人員的僱傭將在執行人員去世之日終止，執行人員的受益人將有權享受提供的福利。 第9(b)款 「本協議」是指本《認股證購買協議》。
(b)殘疾y. 在確定高管殘疾後，公司可以向高管發出書面通知後終止高管的聘用，而高管仍處於殘疾狀態時，高管有權享受中規定的福利 第 9 (b) 節 在這裏。就本協議而言，”殘疾y” 應具有本計劃中賦予該術語的含義。
(c)原因。公司可以出於原因終止高管的聘用，自解僱通知之日起生效（定義見中 第 8 部分 此處），高管有權享受中規定的福利 第 9 (a) 節 在這裏。就本協議而言，「原因」 是指：(1) 被判犯有任何重罪（與車輛犯罪有關的重罪除外）或其他涉及欺詐的犯罪行爲；(2) 對公司造成重大經濟損害的故意不當行爲；(3) 嚴重違反公司政策和指令；(4) 高管繼續拒絕履行高管職責；以及 (5) 高管嚴重違反任何契約向公司披露，包括本協議第 12、13、15 和 16 節中規定的內容；但是，前提是公司必須向行政部門提供書面通知，說明構成原因的特定事件或條件，並應向行政部門提供至少十五（15 天）的補救時間（如果可以治癒）。如果 (x) 沒有明顯的故意並且 (y) 高管出於善意採取或不採取任何行動並理解此類行動或不作爲不損害公司的最大利益，則任何行動或不作爲均不應被視爲故意。本段中對公司的提及還應包括公司的直接和間接子公司，重要性應根據作爲或不作爲以及對整個公司的影響來衡量。在不限制本公司在此項下的其他權利的前提下 第 7 節， 在高管因犯有上述第 (1) 款所述的重罪而被起訴後，公司可以無薪暫停高管的職務。在起訴書被駁回或作出無罪判決之前，這種暫停可以一直有效。如果這樣的起訴沒有導致定罪，如
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在此類裁決或判決後儘快，公司應支付行政人員基本工資和目標獎金數額，該獎金數額爲行政人員暫停工資期間應獲得的金額（按照短期適用聯邦稅率上的利息，按半年複利計算，根據法典第1274條規定的計算方式，在原本應支付這些金額的日期開始計算，但因延遲而未支付），行政人員將獲得權益計算，用於行政人員尚未實現的股權獎勵。
(d)無正當理由公司可以無故解除僱員的僱傭關係。 公司應向僱員提供解僱通知（如下所定義）不少於終止僱員僱傭關係前三十（30）天，並且公司有權在這三十天通知期限到期前終止僱員的職責和責任， 僱員有權享有所提供的福利 第8節。其他股票獎勵。 下述處提供僱員僱傭關係解除通知不少於三十（30）天，公司有權在該三十天通知期限到期前終止僱員的職責和責任， 僱員有權享有所提供的福利 此 ，如果按照本條款所要求的，未經其書面同意便對任何已解決的行動或索賠承擔貢獻責任的當事方，則該方不應對其書面同意所要求的行動或索賠負責。
(e)6. 承認。僱員明確同意在本修正案所提供的薪酬、條款和福利的基礎上。作爲繼續僱傭的一部分，僱員同意並承認，在本修正案的日期上，不存在任何構成悔職或正當理由辭職權利的情況，包括就業協議第8條款或公司維護的任何其他企業分離或控制方案、協議或政策。此外，僱員特此明確放棄（如有）主張本修正案或任何其他情況或發生形成沒有正當原因終止或出於正當理由的辭職權利的權利，包括就業協議第8條款或公司維護的任何其他企業分離或控制方案、協議或政策。執行人可根據以下定義的正當理由（如下所定義）終止執行人的僱傭關係，應在公司逾期三十（30）天的醫治期屆滿後的三十（30）天內向公司提交終止通知書。公司有權在該三十（30）天通知期滿之前終止執行人的職責和責任，執行人應有權享受 此 此協議中，“6. 承認。僱員明確同意在本修正案所提供的薪酬、條款和福利的基礎上。作爲繼續僱傭的一部分，僱員同意並承認，在本修正案的日期上，不存在任何構成悔職或正當理由辭職權利的情況，包括就業協議第8條款或公司維護的任何其他企業分離或控制方案、協議或政策。此外，僱員特此明確放棄（如有）主張本修正案或任何其他情況或發生形成沒有正當原因終止或出於正當理由的辭職權利的權利，包括就業協議第8條款或公司維護的任何其他企業分離或控制方案、協議或政策。”指的是在任職期間發生的以下情況或條件中的任何一種，恕不徵得執行人事先書面同意，且公司未在接到執行人書面通知之後的三十（30）天內（如適用且由公司負責）醫治該事件或條件的發生，構成正當理由。爲了構成正當理由，執行人必須在執行人得知（或應當知曉）構成正當理由事件或條件的初始存在日期之後的三十（30）天內向公司提供書面通知，說明構成正當理由的具體事件或條件以及執行人請求的具體療程。
(1)職責減少p職責減少（A）首席財務官的職責或責任有任何實質性減少，即在此之前立即生效時，除非（此等減少的情形下，執行官獲提供其他職責或負責事務，其實質上與執行官在此等減少前的整體職責和責任基本相當）；或（B）將執行官從首席財務官一職中撤職，但在上述各種情況下，均系與 控執行官因殘疾、原因、執行官死亡的結果或執行官因非基於充分理由以外的其他原因而終止僱傭有關。
(2)公司p薪酬減少任何對高管基本工資或目標獎金機會的減少，除非與公司其他具有類似地位的高管的基本工資或目標獎金機會的減少相當；
(3)搬遷任何導致高管主要業務地點變更，使高管單程通勤距離增加五十(50)英里或更多的情況； 在每種情況下，該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時；
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公司要求高管不定期代表公司出差，不構成合理理由；或
(4)公司p任何違約行爲。公司對本協議的任何重大條款存在任何重大違約。
(f)沒有正當理由。執行人員可以自願終止其僱傭關係，沒有正當理由的情況下，需在執行人員僱傭關係終止前不少於三十（30）天向公司提交終止通知，公司有權選擇放棄全部或部分此三十（30）天通知期，但是，如果年度授予的公平價值超過40萬美元，則年度授予的股份數量將自動減少，使年度授予的公平價值在40萬美元以下，並且公平價值按公司的財務報表一致確定。年度授權將在授權日期起1年內全部歸屬於基礎股票，或在授權日期後的我們股東年會之前（以先到者爲準），但需持續服務到適用歸屬日期。即明確放棄在此通知期屆滿之前終止執行人員的職責和責任的全部或部分，不構成正當理由，也不被視爲公司無正當理由終止僱傭關係的行爲），執行人員應享有 本條款第9(a)節(公司承擔義務賠償)規定的權利和義務之外，如果公司或其代理未能履行在交割日交付授權股份的義務而不是由於TD Cowen的原因，公司同意(i)保護TD Cowen免失或對TD Cowen遭受的任何損失、索賠、損害、合理且可證明的費用(包括律師費和其他費用)承擔責任，並(ii)支付任何佣金、折價或其他報酬給TD Cowen(無需重複)。如未發生違約情況，TD Cowen將享有按照協議應得到的佣金、折價或其他報酬。 下附所提供的福利直至該通知期的最後一天。
(g)不續約通知執行董事的僱傭將在雙方依照相關規定進行終止，僱傭期屆滿後立即生效，屆時任何一方提供不續約通知。 衝突礦物披露。 此規定，執行董事有權獲得提供的福利。 第9(d)條 「本協議」是指本《認股證購買協議》。
8.無論是公司還是執行官的任何一方，都應通過遵守本協議第8（l）條的規定向對方方書面「終止通知」傳達。在公司宣佈因爲控件或執行官宣佈因爲良好理由終止之際，終止通知應（i）指出本協議的具體終止條款，（ii）詳細敘述據此終止執行人的職務的事實和情況，並且（iii）具體指明終止日期。執行人或公司在終止通知中沒有列出任何形成原因或制約良好理由的事實或情況，不會放棄任何一方在此下的權利或防止執行人或公司在執行該方案權益方案時提出此類事實或情況。任何由公司或行政人員聲稱終止的情形，應以書面終止通知通知另一方。 爲本協議的目的，「終止通知」應指出終止日期，“終止日期”本協議中依賴的具體終止條款，併合理詳細列明聲稱爲所示條款下終止行政人員僱傭的基礎的事實和情況。 爲本協議的目的，行政人員在此的任何此類聲稱終止未經該終止通知(除非被有權接收此類通知的一方放棄)。
9.解僱時的補償金在僱傭期間結束時（或關於第9(c)款，於生效日期後），執行人應有權獲得以下福利; 在每種情況下，該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時；, 但是此外，根據適用法律或其他方式，執行人根據本協議享有的任何福利應該抵扣被執行人獲得的任何福利，如果有的話：
(a)公司因有正當理由或高管無正當理由終止的情況下，公司應支付高管如下費用：。如果公司因有正當理由或高管無正當理由而終止高管的僱傭關係，公司應向高管支付以下費用：
(1)截至解僱日期爲止應支付但尚未支付的基本工資，應在解僱日期後的三十（30）天內支付（或者法律要求的較早日期）；
(2)終止日期前執行人代表公司發生的合理必要費用報銷，應在終止日期後三十 (30) 天內支付 (或適用法律要求的較早日期)；
(3)任何根據協議和
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適用延期薪酬計劃或安排的條件。
(4)股權和激勵獎勵，到目前爲止已經授予並且在執行終止時未被取消的部分，應根據其條款支付、交付或結算給執行者，且應根據該等獎勵的適用條款支付、交付或結算。
(5)根據和受制於任何福利計劃或項目，行政人員有權獲取的任何金額或福利，按照該計劃或項目的條款支付（以上述第（1）款至第（5）款中的項目合稱“應計薪酬”).
(b)公司因殘疾或死亡終止僱傭關係。如果高管因殘疾或身故由公司終止僱傭關係，則，根據 第17(e)條款 ，高管有權獲得本 第9(b)條.
(1)公司應支付高管（或高管的受益人，視情況而定）所應得的待支付報酬；
(2)公司應在終止日期後六十（60）天內向高管（或適用的高管受益人）支付任何尚未支付的在終止日期之前任何財政年度中獲得但尚未支付的年度獎金；
(3)公司應根據執行董事任期所在財政年度支付年度獎金，金額等於（A）執行董事的目標獎金與（B）分數(x)乘積，其中分數的分子爲財政年度至終止日期的天數，分母爲365。根據本第(3)款項，應付給執行董事的任何獎金或獎勵應在執行董事終止日期所在財政年度之後的第二年3月15日前以一次性支付形式支付；
(4)高管在終止時持有的每項股權獎勵將受適用獎勵協議條款管轄。
(c)公司無故解僱或高管有正當理由解僱如果高管在生效日期之後被公司無故解僱或高管因正當理由而解僱其當前僱主後，那麼，受制於 第17(e)條 ，高管將有權獲得本協議提供的福利 此.
(1)公司應向高管支付任何應計薪酬；
(2)公司應在終止日期後六十（60）天內支付給高管任何未支付的任何財政年度年度獎金。
(3)公司應支付給高管一項年度獎金，金額等於高管終止日期所在財政年度的產品。
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根據實際達成的業績目標，執行人應當獲得的獎金或激勵獎勵的較小者（x），以及執行人的目標獎金和（B）截止日期爲止的財政年度中的天數的分數（x），其分子是終止日期之日，並且（y）的分母是365。在每種情況下，該B類股東和/或該B類股東的家庭成員需獨立控制在此類帳戶、計劃或信託中持有的B類普通股實時； 如果終止發生是爲了考慮到控制權變更（根據計劃中定義），或在控制權變更後的十二個月內發生，那麼在上述計算中，（A）部分的金額將等於執行人的目標獎金。根據此第（3）款對執行人支付的任何年度獎金應按照終止日期所在的財政年度的次年3月15日一次性支付。
(4)公司應以現金向高管支付遣散費，以代替終止日期之後的任何進一步補償，這筆款項應在高管離職之日後的六十 (60) 天內一次性支付（前提是 第 10 部分 本協議中），等於一 (1) 倍（或者，如果終止日期發生在 2024 年 12 月 31 日或之前，則爲一倍半（1-1/2）倍，或（y）考慮控制權變更後或控制權變更後的十二個月內，高管基本工資和目標獎金之和的兩（2）倍），在每種情況下均爲高管基本工資和目標獎金總和的兩（2）倍，在此類解僱前不加考慮任何構成正當理由的削減；
(5)One Hundred Percent (100%) of the One-Time Sign-On Bonus shall fully vest and become payable within sixty (60) days of the termination date to the extent not already paid;
(6)solely to the extent such termination of employment occurs after the Commencement Date, (i) to the extent not previously granted to Executive, the Company shall grant the Initial RSU Award to Executive effective as of immediately prior to the Termination Date and (ii) any unvested portion of the Initial RSU Award shall fully vest and be settled in shares within sixty (60) days following the Termination Date;
(7)With respect to any equity awards held by Executive at the time of termination (other than the Initial RSU Award), including, without limitation, the Initial PRSU Award, such equity awards shall be governed by the terms of the applicable award agreement; and
(8)Subject to Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall provide Executive with continued coverage through the first (1st) anniversary of the Termination Date (or, if such termination of employment occurs either (x) on or before December 31, 2024, or (y) in contemplation of a Change in Control or within twelve months following a Change in Control, in both cases through the 18-month anniversary of the Termination Date) under any health, medical, dental or vision program or policy in which Executive (and Executive’s dependents, as applicable) participated in as of the Termination Date, to the extent permitted under applicable law and the terms of
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such program or policy; provided, however, that Executive shall be solely responsible for any taxes incurred in respect of such coverage; and provided, further, that the Company may modify the continuation coverage contemplated hereby (including by providing, in lieu of such continuation coverage or to the extent that the COBRA continuation period expires, a lump-sum cash payment equal to the value for Executive of the continuation coverage provided herein) to the extent reasonably necessary to avoid the imposition of any excise taxes on the Company for failure to comply with the nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and/or the Health Care and Education Reconciliation Act of 2010, as amended (to the extent applicable); and provided, further, in the event Executive obtains other employment that offers group health benefits, such continuation coverage by the Company hereunder shall immediately cease (and Executive agrees to promptly notify the Company if Executive is offered group health benefits from any subsequent employer following the Termination Date).
(d)Expiration of Employment Term Upon Notice of Non-Renewal. If Executive’s employment terminates upon expiration of the Employment Term as then in effect following timely provision by either party of notice of non-renewal in accordance with Section 1 hereof, then, subject to Section 17(e) hereof:
(1)If such notice is submitted by Executive, then Executive shall be entitled to the Accrued Compensation.
(2)If such notice is submitted by the Company, then Executive shall be entitled to the benefits provided in Section 9(c) hereof.
(e)Executive shall not be required to mitigate the amount of any payment provided for under this Section 9 by seeking other employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to Executive in any subsequent employment.
10.Section 409A. The parties intend for the payments and benefits under this Agreement to be exempt from Section 409A or, if not so exempt, to be paid or provided in a manner which complies with the requirements of such section, and intend that this Agreement shall be construed and administered in accordance with such intention. In no event whatsoever will the Company be liable for any additional tax, interest or penalty that may be imposed on Executive by Section 409A or damages for failing to comply with Section 409A. If any payments or benefits due to Executive hereunder would cause the application of an accelerated or additional tax under Section 409A, such payments or benefits shall be restructured by the Company in a manner that to the extent possible preserves the economic benefit and original intent thereof but does not cause such an accelerated or additional tax. For purposes of the limitations on nonqualified deferred compensation under Section 409A, each payment of compensation under this Agreement shall be treated as a separate and distinct payment of compensation. Notwithstanding anything to the contrary in this Agreement, if Executive is deemed by the Company on the Termination Date to be “specified employee” within the meaning of Section 409A, then with regard to any payment or the provision of any benefit that is considered “nonqualified deferred compensation” under Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive and (B) the date of Executive’s death, solely to the extent required under Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to the
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foregoing (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to Executive in a lump sum, and all remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Notwithstanding anything to the contrary in this Agreement, all (1) reimbursements and (2) in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (x) the amount of expenses eligible for reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year; (y) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (z) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit.
11.Whistleblower Protections. Nothing in this Agreement or otherwise limits Executive’s ability to communicate directly with and provide information, including documents, not otherwise protected from disclosure by any applicable law or privilege to the Securities and Exchange Commission (the “SEC”) or any other federal, state or local governmental agency or commission (“Government Agency”) regarding possible legal violations, without disclosure to the Company. The Company may not retaliate against Executive for any of these activities, and nothing in this Agreement or otherwise requires Executive to waive any monetary award or other payment that Executive might become entitled to from the SEC or any other Government Agency.
12.Records and Confidential Data.
(a)Executive acknowledges that in connection with the performance of Executive’s duties during the Employment Term, the Company will make available to Executive, or Executive will have access to, certain Confidential Information (as defined below) of the Company and its affiliates. Executive acknowledges and agrees that any and all Confidential Information disclosed to, or learned or obtained by, Executive during the course of Executive’s employment by the Company or otherwise, whether developed by Executive alone or in conjunction with others or otherwise, shall be and is the sole and exclusive property of the Company or the affiliate of the Company, as applicable, that is Executive’s employer (the “Employer”). No license or other right to any Confidential Information is granted to Executive under this Agreement. To the extent that Executive acquires any right, title or interest in or to any Confidential Information, Executive hereby irrevocably assigns, transfers, conveys and delivers to the Employer all such right, title and interest in and to such Confidential Information.
(b)Subject to Sections 11 and 12(e) hereof, the Confidential Information will be kept confidential by Executive, will not be used in any manner which is detrimental to the Company, will not be used other than in connection with Executive’s discharge of Executive’s duties hereunder, and will be safeguarded by Executive from unauthorized disclosure. Executive acknowledges and agrees that the confidentiality restrictions set forth herein shall apply to any and all Confidential Information disclosed to, or learned or obtained by, Executive, whether before, on or after the date hereof. For the avoidance of doubt, nothing in this Section 12(b) shall prevent Executive from complying with a valid legal requirement (whether by oral questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information; provided that, subject to Section 12(e), Executive shall first give notice to the Employer and reasonably cooperate with the Employer to obtain a protective order or other measures preserving the confidential treatment of such Confidential Information and requiring that the information or documents so disclosed be used only for
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the purposes for which the order was issued or is otherwise required by applicable law. For the avoidance of doubt, nothing in this Section 12(b) shall prevent Executive from exercising any legally protected whistleblower rights (including under Rule 21F under the Securities Exchange Act of 1934, as amended) as set forth in Section 11.
(c)Following the termination of Executive’s employment hereunder or upon the Company’s request, and subject to Sections 11 and 10(e) hereof, as soon as possible after the Company’s written request, Executive will return to the Company all written Confidential Information which has been provided to Executive and Executive will return or destroy all copies of any analyses, compilations, studies or other documents prepared by Executive or for Executive’s use containing or reflecting any Confidential Information. Within five (5) business days of the receipt of such request by Executive, Executive shall, upon written request of the Company, deliver to each of the Company a document certifying that such written Confidential Information has been returned or destroyed in accordance with this Section 12(c).
(d)For the purposes of this Agreement, “Confidential Information” shall mean any and all non-public, proprietary or other confidential information of the Company or its affiliates disclosed to Executive, to which Executive has access, or of which Executive otherwise becomes aware, in each case whether in oral, written, graphic or machine readable form, including, without limitation, (A) know-how, trade secrets, inventions, discoveries, concepts, information, works, materials, processes, methods, data, software, programs, apparatus, designs and the like, and any other intellectual property the value of which is contingent upon maintaining the confidentiality thereof, (B) information regarding the business of the Company or its affiliates, including its products, services, budgets, contracts, reports, investigations, experiments, research, work in progress, drawings, designs, plans, proposals, codes, marketing and sales programs, client lists, client mailing lists, supplier lists, financial projections, cost summaries, pricing formulae, marketing studies relating to prospective business opportunities, and all other concepts, ideas, materials, or information prepared or performed for or by the Company or its affiliates, (C) information regarding the skills and compensation of the employees, contractors, and any other service providers of the Company or its affiliates, (D) the existence of any business discussions, negotiations, or agreements between the Company or its affiliates and any third party, (E) all documents and other work product generated by you which contain, comment upon, or relate in any way to any information disclosed by the Company or its affiliates, (F) all third-party information held in confidence by the Company or its affiliates, and (G) the terms and conditions of this Agreement. For purposes of this Agreement, the Confidential Information shall not include, and Executive’s obligation shall not extend to (A) information which is generally available to the public and (B) information obtained by Executive other than pursuant to or in connection with Executive’s employment.
(e)Pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b)), the Company and Executive acknowledge and agree that Executive shall not have criminal or civil liability under any federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In
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addition and without limiting the preceding sentence, if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney and may use the trade secret information in the court proceeding, if Executive (X) files any document containing the trade secret under seal and (Y) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement or otherwise is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such Section.
(f)In connection with Executive’s employment with the Company, Executive will not use any confidential or proprietary information Executive may have obtained in connection with employment with any prior employer.
(g)Executive’s obligations under this Section 12 shall survive the termination of the Employment Term.
13.Covenant Not to Solicit and Not to Compete; Non-Disparagement.
(a)Covenants Not to Solicit or to Interfere. To protect the Confidential Information, Company Intellectual Property (as defined below) and other trade secrets of the Company and its affiliates, Executive agrees, during the Employment Term and for a period of twelve (12) months after Executive’s cessation of employment with the Company (the “Restricted Period”), not to solicit, hire or participate in or assist in any way in the solicitation or hire of any employees of the Company or any of its subsidiaries (or any person who was an employee of the Company or any of its subsidiaries during the six-month period preceding such action). For purposes of this covenant, “solicit” or “solicitation” means directly or indirectly influencing or attempting to influence employees of the Company or any of its subsidiaries to become employed with any other person, partnership, firm, corporation or other entity.
In addition, to protect the Confidential Information, Company Intellectual Property and other trade secrets of the Company and its affiliates, Executive agrees, during the Employment Term and the Restricted Period, not to (x) solicit any client or customer to receive services or to purchase any good or services in competition with those provided by the Company or any of its subsidiaries or (y) interfere or attempt to interfere in any material respect with the relationship between the Company or any of its subsidiaries on one hand and any client, customer, supplier, investor, financing source or capital market intermediary on the other hand. For purposes of this covenant, “solicit” or “solicitation” means directly or indirectly influencing or attempting to influence clients or customers of the Company or any of its affiliates to accept the services or goods of any other person, partnership, firm, corporation or other entity in competition with those provided by the Company or any of its affiliates.
Executive agrees that the covenants contained in this Section 13(a) are reasonable and desirable to protect the Confidential Information and Company Intellectual Property of the Company and its affiliates; provided that solicitation through general advertising (provided that Executive does not actually hire such individual and Executive is not otherwise directly or indirectly involved in connection with hiring such individual) or the provision of references shall not constitute a breach of such obligations.
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(b)Covenant Not to Compete. To protect the Confidential Information, Company Intellectual Property and other trade secrets of the Company and its affiliates, Executive agrees, during the Employment Term and the Restricted Period, not to engage in Prohibited Activities (as defined below) in any country in which the Company or any of its affiliates conducts business, or plans to conduct business, during the Employment Term.
For the purposes of this Agreement, the term “Prohibited Activities” means directly or indirectly engaging as an owner, employee, partner, member, consultant or agent of any entity that derives more than 10% of its consolidated revenue from the development, manufacturing, marketing and/or distribution (directly or indirectly) of branded or generic prescription or non-prescription pharmaceuticals or medical devices for treatments in the fields of neurology, dermatology, gastroenterology or dentistry business; provided that Prohibited Activities shall not mean Executive’s investment in securities of a publicly- traded company equal to less than five (5%) percent of such company’s outstanding voting securities; provided, that, for the avoidance of doubt, Executive complies with the obligations set forth in Sections 12, 13(a) and 13(c) hereof.
Executive agrees that the covenants contained in this Section 13(b) are reasonable and desirable to protect the Confidential Information and Company Intellectual Property of the Company and its affiliates.
By signing this Agreement, Executive acknowledges and agrees that Executive is a “senior executive” within the meaning of the final Non-Compete Clause Rule published by the Federal Trade Commission on May 7, 2024, codified as 16 C.F.R. Part 910.
(c)Non-Disparagement. Executive agrees not to make written or oral statements about the Company, its subsidiaries or affiliates, or its directors, executive officers or non-executive officer employees that are negative or disparaging, except as provided in Section 11 or 12(e) hereof. Likewise, the Company agrees that it will direct its directors and executive officers not to make written or oral statements about Executive that are negative or disparaging. Notwithstanding the foregoing, nothing in this Agreement or otherwise shall preclude Executive or the Company’s directors and executive officers from communicating or testifying truthfully to the extent required by law to any federal, state, provincial or local governmental agency or in response to a subpoena to testify issued by a court of competent jurisdiction.
(d)It is the intent and desire of Executive and the Company that the restrictive provisions of this Section 13 be enforced to the fullest extent permissible under the laws and public policies as applied in each jurisdiction in which enforcement is sought. If any particular provision of this Section 13 shall be determined to be invalid or unenforceable, such covenant shall be amended, without any action on the part of either party hereto, to delete there from the portion so determined to be invalid or unenforceable, such deletion to apply only with respect to the operation of such covenant in the particular jurisdiction in which such adjudication is made.
(e)Executive’s obligations under this Section 13 shall survive the termination of the Employment Term.
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14.Remedies for Breach of Obligations under Sections 12 or 13 hereof. Executive acknowledges that the Company will suffer irreparable injury, not readily susceptible of valuation in monetary damages, if Executive breaches Executive’s obligations under Sections 12 or 13 hereof. Accordingly, Executive agrees that the Company will be entitled, in addition to any other available remedies, to obtain injunctive relief against any breach or prospective breach by Executive of Executive’s obligations under Sections 12 or 13 hereof. Executive agrees that process in any or all of those actions or proceedings may be served by overnight courier, addressed to the last address provided by Executive to the Company, or in any other manner authorized by law (including personal service); provided that such notice is sent promptly to Executive at the following email address: xxxxx@gmail.com. This Section 14 shall survive the termination of the Employment Term.
15.Cooperation.
(a)Following Executive’s termination of employment for any reason, except as provided in Section 11 or 12(e) hereof, Executive agrees to make himself reasonably available to cooperate with the Company and its affiliates in matters that materially concern (but not to the extent that such cooperation would interfere unreasonably with Executive’s then-current employment, consulting, or other business or professional activities): (i) requests for information about the services Executive provided to the Company and its affiliates during Executive’s employment with the Company and its affiliates, (ii) the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company and its affiliates which relate to events or occurrences that transpired while Executive was employed the Company and its affiliates and as to which Executive has, or would reasonably be expected to have, personal experience, knowledge or information or (iii) any investigation or review by any federal, state or local regulatory, quasi-regulatory or self-governing authority (including, without limitation, the US Department of Justice, the US Federal Trade Commission or the SEC) as any such investigation or review relates to events or occurrences that transpired while Executive was employed by the Company and its affiliates. Executive’s cooperation shall include: (A) making Executive reasonably available to meet and speak with officers or employees of the Company, the Company’s counsel or any third-parties at the request of the Company at times and locations to be determined by the Company reasonably and in good faith, taking into account the Company’s business and Executive’s business and personal needs (the “Company Cooperation”) and (B) giving accurate and truthful information at any interviews and accurate and truthful testimony in any legal proceedings or actions (the “Witness Cooperation”). If such cooperation exceeds the equivalent of three business days, then the Company shall compensate Executive per diem at a rate commensurate with the rate of his Base Salary under this Agreement. Nothing in this Section 15(a) shall be construed to limit in any way any rights Executive may have at applicable law not to provide testimony with regard to specific matters. Unless required by law or legal process, Executive will not knowingly or intentionally furnish information to or cooperate with any non-governmental entity (other than the Company) in connection with any potential or pending proceeding or legal action involving matters arising during Executive’s employment with the Company and its affiliates, except as provided in Section 11 or 12(e). In addition, at the request of the Company, Executive shall be required to complete a directors’ and officers’ questionnaire to facilitate the Company’s preparation and filing of its proxy statement and periodic reports with the SEC.
(b)Executive shall not be entitled to any payments in addition to those otherwise set forth in this Agreement in respect of any Company Cooperation or Witness Cooperation, regardless
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of when provided. The Company will reimburse Executive for any reasonable, out-of-pocket travel, hotel and meal expenses incurred in connection with Executive’s performance of obligations pursuant to this Section 15 for which Executive has obtained prior approval from the Company.
(c)Nothing in this Agreement or any other agreement by and between the Parties is intended to or shall preclude or in any way limit or restrict Executive from providing accurate and truthful testimony or information to any governmental agency.
(d)This Section 15 shall survive the termination of the Employment Term.
16.Inventions and Intellectual Property.
(a)Definitions. As used in this Agreement:
(1)”Intellectual Property” means all patents, invention disclosures, invention registrations, trademarks, service marks, trade names, trade dress, logos, domain names, copyrights, mask works, trade secrets, know-how and all other intellectual property and proprietary rights recognized by any applicable law of any jurisdiction, and all registrations and applications for registration of, and all goodwill associated with, the foregoing.
(2)”Inventions” means all inventions, discoveries, concepts, information, works, materials, processes, methods, data, software, programs, apparatus, designs and the like.
(b)Disclosure. Executive will disclose promptly in writing to the Company any and all Inventions and Intellectual Property, in each case that Executive conceives, develops, creates or reduces to practice, either alone or jointly with others, during the period of Executive’s employment that (1) are conceived, created or developed using any equipment, supplies, facilities, trade secrets, know-how or other Confidential Information of the Company or any of its affiliates, (2) result from any work performed by Executive for the Company or any of its affiliates and/or (3) otherwise relate to the Company’s or any of its affiliates’ business or actual or demonstrably anticipated research or development (collectively, “Company Intellectual Property”).
(c)Ownership and Assignment. Executive acknowledges and agrees that the Company will have exclusive title and ownership rights in and to all Company Intellectual Property. To the extent that exclusive title and/or ownership rights may not originally vest in the Company as contemplated herein, Executive hereby irrevocably assigns, transfers, conveys and delivers to the Company all right, title and interest in and to all Company Intellectual Property. Executive acknowledges and agrees that, with respect to any Company Intellectual Property that may qualify as a Work Made For Hire as defined in 17 U.S.C. § 101 or other applicable law, such Company Intellectual Property is and will be deemed a Work Made for Hire and the Company will have the sole and exclusive right to the copyright (or, in the event that any such Company Intellectual Property does not qualify as a Work Made for Hire, the copyright and all other rights thereto are automatically assigned to the Company as above).
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(d)Prior Inventions. Set forth in Exhibit A (Prior Inventions) attached hereto is a complete list of all Inventions that Executive has, alone or jointly with others, conceived, developed created or reduced to practice prior to the commencement of Executive’s employment with the Company, that are Executive’s property, and that the Company acknowledges and agrees are excluded from the scope of this Agreement (collectively, “Prior Inventions”). If disclosure of any such Prior Invention would cause Executive to violate any prior confidentiality agreement, Executive understands that he is not to list such Prior Inventions in Exhibit A but is only to disclose where indicated a cursory name for each such Prior Invention, a listing of each person or entity to whom it belongs, and the fact that full disclosure as to such Prior Inventions has not been made for that reason (it being understood that, if no Invention or disclosure is provided in Exhibit A, Executive hereby represents and warrants that there are no Prior Inventions). If, in the course of Executive’s employment with the Company, Executive incorporates any Prior Invention into any Company product, process or machine or otherwise uses any Prior Invention, Executive hereby grants to the Company and its affiliates a worldwide, non-exclusive, irrevocable, perpetual, fully paid-up and royalty-free license (with rights to sublicense through multiple tiers of sublicensees) to use, reproduce, modify, make derivative works of, publicly perform, publicly display, make, have made, sell, offer for sale, import and otherwise exploit such Prior Invention for any purpose.
(e)Non-Assignable Inventions. If Executive is an employee whose principal work location is in California, Illinois, Kansas, Minnesota or Washington State, the provisions regarding Executive’s assignment of Company Intellectual Property to the Company in Section 16(c) hereof do not apply to certain Inventions (“Non-Assignable Inventions”) as specified in the statutory code of the applicable state. Executive acknowledges having received and reviewed notification regarding such Non-Assignable Inventions pursuant to such states’ codes.
(f)Waiver of Moral Rights. To the extent that Executive may do so under applicable law, Executive hereby irrevocably waives and agrees never to assert any Moral Rights that Executive may have in or with respect to any Company Intellectual Property, even after termination of any work on behalf of the Company or its affiliates. As used in this Agreement, “Moral Rights” means any rights to claim authorship of a work, to object to or prevent the modification or destruction of a work, or to withdraw from circulation or control the publication or distribution of a work, and any similar right, existing under any applicable law of any jurisdiction, regardless of whether or not such right is denominated or generally referred to as a “moral right.”
(g)Further Assurances. Executive shall give the Company and its affiliates all reasonable assistance and execute all documents necessary to assist with enabling the Company and its affiliates to prosecute, perfect, register, record, enforce and defend any of their rights in any Company Intellectual Property and Confidential Information.
(h)This Section 16 shall survive the termination of the Employment Term.
17.Miscellaneous.
(a)Successors and Assigns.
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(1)This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and permitted assigns. The Company may not assign or delegate any rights or obligations hereunder except to a successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, as applicable. Except for purposes of determining the occurrence of a Change in Control, the term “the Company” as used herein shall mean a corporation or other entity acquiring all or substantially all the assets and business of the Company, as the case may be, (including this Agreement) whether by operation of law or otherwise.
(2)Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by Executive, Executive’s beneficiaries or legal representatives, except by will or by the laws of descent and distribution.
(3)This Agreement shall inure to the benefit of and be enforceable by Executive’s legal personal representatives.
(b)Notice. For the purposes of this Agreement, notices and all other communications provided for in the Agreement (including the Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or sent by overnight courier, addressed to the respective addresses last given by each party to each other party; provided that all notices to the Company shall be directed to the attention of the General Counsel of the Company. All notices and communications shall be deemed to have been received on the date of delivery thereof or on the third business day after the mailing thereof, except that notice of change of address shall be effective only upon receipt.
(c)Indemnity Agreement. The Company agrees to indemnify and hold Executive harmless to the fullest extent permitted by applicable law for actions taken as a director or officer of the Company, as in effect at the time of the subject act or omission. In connection therewith, Executive shall be entitled to the protection of any insurance policies which the Company elects to maintain generally for the benefit of the Company’s directors and officers, against all costs, charges and expenses whatsoever incurred or sustained by Executive in connection with any action, suit or proceeding to which he may be made a party by reason of Executive’s being or having been a director, officer or employee of the Company. This provision shall survive any termination of the Employment Term.
(d)Withholding. The Company shall be entitled to withhold the amount, if any, of all taxes of any applicable jurisdiction required to be withheld by an employer with respect to any amount paid to Executive hereunder. The Company, in its sole and absolute discretion, shall make all determinations as to whether it is obligated to withhold any taxes hereunder and the amount hereof.
(e)Release of Claims. Notwithstanding anything to the contrary in this Agreement, the termination benefits described in Sections 9(b), 9(c) and 9(d)(2) hereof shall be conditioned on Executive delivering to the Company, and failing to revoke, a signed release of claims acceptable to the Company within twenty-one (21) days following Executive’s Termination Date; provided, however, that Executive shall not be required to release any rights Executive may have to be indemnified by the Company under Section
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15(c) hereof; and provided further that such release shall not contain any post-employment restrictions beyond those set forth in this Agreement. Notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of Executive’s execution of the release, directly or indirectly, result in Executive designating the calendar year of payment, and, to the extent required by Section 409A, if a payment that is subject to execution of the release could be made in more than one taxable year, payment shall be made in the later taxable year. Where applicable, references to Executive in this Section 17(e) shall refer to Executive’s representative or estate.
(f)Modification. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by the other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreement or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by any party which are not expressly set forth in this Agreement.
(g)Arbitration. If any legally actionable dispute arises under this Agreement or otherwise which cannot be resolved by mutual discussion between the parties, then the Company and Executive each agree to resolve such dispute by binding arbitration before an arbitrator experienced in employment law. Said arbitration will be conducted in accordance with the rules applicable to employment disputes of the Judicial Arbitration and Mediation Services (“JAMS”) and the law applicable to the claim. The parties shall have 30 calendar days after notice of such arbitration has been given to attempt to agree on the selection of an arbitrator from JAMS. In the event the parties are unable to agree in such time, JAMS will provide a list of five (5) available arbitrators and an arbitrator will be selected from such five-member panel provided by JAMS by the parties alternately striking out one name of a potential arbitrator until only one name remains. The party entitled to strike an arbitrator first shall be selected by a toss of a coin. The parties agree that this agreement to arbitrate includes any such disputes that the Company may have against Executive, or Executive may have against the Company and/or its related entities and/or employees, arising out of or relating to this Agreement, or Executive’s employment or Executive’s termination, including any claims of discrimination or harassment in violation of applicable law and any other aspect of Executive’s compensation, employment, or Executive’s termination. The parties further agree that arbitration as provided for in this Section 17(g) is the exclusive and binding remedy for any such dispute and will be used instead of any court action, which is hereby expressly waived, except for any request by any party for temporary, preliminary or permanent injunctive relief pending arbitration in accordance with applicable law or for breaches by either party of such party’s obligations under Sections 12, 13, 15 or 16 hereof, as applicable, or an administrative claim with an administrative agency. The parties agree that the arbitration provided herein shall be conducted in or around Morristown, New Jersey, unless otherwise mutually agreed. The Company shall pay the cost of any arbitration brought pursuant to this paragraph, excluding, however, the cost of representation of Executive unless such cost is awarded in accordance with law or otherwise awarded by the arbitrators. Except as otherwise provided above, the arbitrator may award legal fees to the prevailing party in the arbitrator(s)’ sole discretion, provided
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that the percentage of fees so awarded shall not exceed 1% of the net worth of the paying party (i.e., the Company or Executive). Subject to Section 11 hereof, except as may be required by law, neither party nor an arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both parties.
(h)Effect of Other Law. Anything herein to the contrary notwithstanding, the terms of this Agreement shall be modified to the extent required to meet the provisions of the Sarbanes-Oxley Act of 2002, Section 409A, the Dodd-Frank Wall Street Reform and Consumer Protection Act or other law applicable to the employment arrangements between Executive and the Company. Any delay in providing benefits or payments or any failure to provide a benefit or payment shall not in and of itself constitute a breach of this Agreement; provided, however, that the Company shall provide economically equivalent payments or benefits to Executive to the extent permitted by law. Any request or requirement that Executive repay compensation that is required under the first sentence of this Section 17(h), or pursuant to a Company policy that is applicable to other executive officers of the Company and, shall not in and of itself constitute a breach of this Agreement.
(i)Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New Jersey applicable to contracts executed in and to be performed entirely within such State, without giving effect to the conflict of law principles thereof.
(j)No Conflicts. As a condition to the effectiveness of this Agreement, Executive represents and warrants to the Company that he is not a party to or otherwise bound by any agreement or arrangement (including, without limitation, any license, covenant, or commitment of any nature), or subject to any judgment, decree, or order of any court or administrative agency, that would conflict with or will be in conflict with or in any way preclude, limit or inhibit Executive’s ability to execute this Agreement or to carry out Executive’s duties and responsibilities hereunder. In the event that the Company determines that Executive’s duties hereunder may conflict with an agreement or arrangement to which Executive is bound, Executive shall be required to cease engaging in any such activities, duties or responsibilities (including providing supervisory services over certain subsets of the Company’s business operations) and the Company will take steps to restrict Executive’s access to, and participation in, any such activities. Any actions taken by the Company under this Section 17(j) to restrict or limit Executive’s access to information or provision of services shall not constitute Good Reason for purposes of Section 7(e) hereof.
(k)Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof.
18.Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between the parties hereto with respect to the subject matter hereof, including, without limitation, any term sheets or other similar presentations.
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19.Counterparts. This Agreement may be executed in separate counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement. Signatures transmitted via facsimile or PDF will be deemed the equivalent of originals.
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IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the day and year first above written, to be effective as of the Effective Date.
BAUSCH HEALTH COMPANIES INC.
By: /s/ THOMAS J. APPIO
Name: Thomas J. Appio
Title: Chief Executive Officer
EXECUTIVE
By: /s/ JEAN-JACQUES CHARHON
Name: Jean-Jacques Charhon
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EXHIBIT A
PRIOR INVENTIONS
PRIOR INVENTIONS
1. The following is a complete list of all Prior Inventions (as provided in Section 16(d) of the attached Employment Agreement):
2. Due to a prior confidentiality agreement, Executive cannot complete the disclosure under Section 1 above with respect to the Prior Inventions generally listed below, the duty of confidentiality with respect to which Executive owes to the following party(ies):
| Prior Invention | Party(ies) | Relationship | ||||||
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