First Amendment to Allergan, Inc. Employee Stock Ownership Plan (Restated 2008)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the Allergan, Inc. Employee Stock Ownership Plan, effective January 1, 2008, to clarify the definition of "Eligible Retirement Plan." It specifies the types of retirement accounts and plans that can accept rollover distributions from the plan, including IRAs, qualified retirement plans, certain annuity contracts, and eligible governmental plans. For non-spouse beneficiaries, only certain IRAs are eligible. The amendment is executed by Allergan, Inc. and signed by its Executive Vice President of Human Resources.

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EX-10.16 2 dex1016.htm EXHIBIT 10.16 Exhibit 10.16

EXHIBIT 10.16

FIRST AMENDMENT

TO

ALLERGAN, INC.

EMPLOYEE STOCK OWNERSHIP PLAN

(RESTATED 2008)

The ALLERGAN, INC. EMPLOYEE STOCK OWNERSHIP PLAN (the “Plan”) is hereby amended as follows:

 

1. Effective January 1, 2008, Section 2.14 is hereby amended to read as follows:

“Eligible Retirement Plan.    “Eligible Retirement Plan” shall mean (i) an individual retirement account or annuity described in Code Section 408(a) or 408(b) or a Roth IRA described in Code Section 408A(b), (ii) a qualified retirement plan described in Code Section 401(a) or 403(a) that accepts Eligible Rollover Distributions, (iii) an annuity contract described in Code Section 403(b) that accepts Eligible Rollover Distributions, and (iv) an eligible plan described in Code Section 457(b) which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state that accepts Eligible Rollover Distributions and agrees to separately account for amounts transferred into such plan from this Plan. Notwithstanding the foregoing, with respect to a non-spouse Beneficiary, “Eligible Retirement Plan” shall refer only to an individual retirement account or annuity described in Code Section 408(a) or 408(b) or a Roth IRA described in Code Section 408A(b).”

IN WITNESS WHEREOF, Allergan, Inc. hereby executes this First Amendment to the Allergan, Inc. Employee Stock Ownership Plan (Restated 2008) on this 12th day of October, 2009.

 

        By:       /s/ Dianne Dyer-Bruggeman
  Dianne Dyer-Bruggeman
  Executive Vice President, Human Resources