Waiver Letter to Transition and Succession Agreement between Mylan Inc. and Employee
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Summary
This letter agreement is between Mylan Inc. and an employee who is a party to a Transition and Succession Agreement (T&S Agreement) with the company. The letter confirms that, in exchange for continued employment and participation in company incentive plans, the employee agrees that the business transactions under the July 13, 2014 Business Transfer Agreement and Plan of Merger with Abbott Laboratories will not be considered a 'Change in Control' under the T&S Agreement. All other terms of the T&S Agreement remain unchanged.
EX-10.57 2 myl_ex1057x20141231-10k.htm EXHIBIT 10.57 MYL_EX10.57_2014.12.31-10K
Exhibit 10.57
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1000 Mylan Boulevard Canonsburg, PA 15317 USA Phone ###-###-#### Fax ###-###-#### Web mylan.com |
Transition and Succession Agreement
Waiver Letter
Dear [l]:
Reference is made to your Transition and Succession Agreement with Mylan Inc. (the “Company”), as such agreement has been and may be amended from time to time (the “T&S Agreement”). The T&S Agreement provides for the possibility of enhanced benefits or rights following a Change in Control of the Company (as such term is defined in the T&S Agreement). By executing this waiver letter, for good and valuable consideration (including your continued employment and continued participation in the Company’s incentive plans and programs), you acknowledge and agree that the transactions consummated pursuant to the Business Transfer Agreement and Plan of Merger, dated as of July 13, 2014, by and among Abbott Laboratories, an Illinois corporation, the Company and the other parties thereto, as such agreement may be amended from time to time, shall not constitute a Change in Control for any purpose of the T&S Agreement. All other provisions of the T&S Agreement, as modified by the foregoing, shall remain in full force and effect notwithstanding this waiver letter.
MYLAN INC., | |
by | |
Name: | |
Title: |
Acknowledged and agreed:
_____________________________
Name: