Severability Contract Clauses (27,855)

Severability. If any provision of this Agreement is determined to be in violation of any law, rule, or regulation or otherwise unenforceable, such determination will not affect the validity of any other provision of this Agreement, which will remain in full force and effect. Each section, provision, paragraph and subparagraph of this Agreement is severable from every other section, provision, paragraph and subparagraph and constitutes a separate and distinct covenant.

Severability. If any provision of this Agreement shall be invalid or unenforceable in any respect for any reason, the validity and enforceability of any such provision in any other respect, and of the remaining provisions of this Agreement, shall not be in any way impaired.

Severability. If any provision of this Agreement shall be held or made invalid by a statute, rule, regulation, decision of a tribunal or otherwise, the remainder of this Agreement shall not be affected thereby and, to this extent, the provisions of this Agreement shall be deemed to be severable.

Severability. The invalidity or unenforceability of any particular provision thereof shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision had been omitted.

Severability. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future laws effective during the term of this Agreement, such provision will be fully severable and this Agreement and each separate provision will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal,... invalid or unenforceable provision or by its severance from this Agreement. In addition, in lieu of such illegal, invalid or unenforceable provision, there will be added automatically, as a part of this Agreement, a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable, to the extent such reformation is allowable under applicable law. 18 16. Governing Law. This Agreement and all issues relating to the validity, interpretation, and performance will be governed by, interpreted, and enforced under the laws of the State of Connecticut. View More

Severability. If any provision of this Agreement is held to be unenforceable, Executive understands and agrees that such unenforceability shall not affect any other provision hereof and that the remainder of the Agreement shall be enforceable.

Severability. If any provision of this Agreement shall be held void, voidable, invalid or inoperative, no other provision of this Agreement shall be affected as a result thereof, and accordingly, the remaining provisions of this Agreement shall remain in full force and effect as though such void, voidable, invalid or inoperative provision had not been contained herein.12. No Reliance Upon Other Statements. This Agreement is entered into without reliance upon any statement or representation of any Party hereto... or any Party hereby released other than the statements and representations contained in writing in this Agreement (including all Exhibits hereto). View More

Severability. If all or any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid will, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent poss...ible while remaining lawful and valid. 8 EX-10.2 2 d873633dex102.htm EXHIBIT 10.2 EX-10.2 Exhibit 10.2 VALEANT PHARMACEUTICALS INTERNATIONAL, INC. SHARE UNIT GRANT AGREEMENT (PERFORMANCE VESTING) (PERFORMANCE RESTRICTED SHARE UNITS) (2014 Omnibus Incentive Plan) Valeant Pharmaceuticals International, Inc. (the "Company"), pursuant to Section 7(c)(v) of the Company's 2014 Omnibus Incentive Plan (the "Plan"), hereby awards to you Share Units in the amount set forth below convertible into Common Shares in accordance with the terms set forth herein (the "Award"). This Award is subject to all of the terms and conditions as set forth herein (the "Agreement") and in the Plan, which is incorporated herein in its entirety. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan. In the event of any conflict between the terms in the Agreement and the Plan, the terms of the Plan shall control unless this Agreement specifies that the term(s) in this Agreement control. For avoidance of doubt, any terms contained in the Agreement but are not in the Plan shall not constitute a conflict and such terms in the Agreement shall control. Participant: Equity Grant Date: Number of Share Units Subject to Award: The details of your Award are as follows. View More

Severability. If all or any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid will, if possible, be construed in a manner that will give effect to the terms of such Section or part of a Section to the fullest extent possi...ble while remaining lawful and valid. 6 EX-10.3 3 d873633dex103.htm EXHIBIT 10.3 EX-10.3 Exhibit 10.3 VALEANT PHARMACEUTICALS INTERNATIONAL, INC. STOCK OPTION GRANT AGREEMENT (NONSTATUTORY STOCK OPTION) 2014 OMNIBUS INCENTIVE PLAN Valeant Pharmaceuticals International, Inc. (the "Company"), pursuant to its 2014 Omnibus Incentive Plan (the "Plan"), hereby grants to Optionholder an option to purchase the number of Common Shares set forth below (the "Award"). This Award is subject to all of the terms and conditions as set forth herein (the "Agreement") and in the Plan, which is incorporated herein in its entirety. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan. In the event of any conflict between the terms in the Agreement and the Plan, the terms of the Plan shall control. For the avoidance of doubt, any terms contained in the Agreement but are not in the Plan shall not constitute a conflict and such terms in the Agreement shall control. Optionholder: Equity Grant Date: Number of Shares Subject to Option: Exercise Price (Per Share): $ Total Exercise Price: $ Expiration Date: Type of Grant: x Nonstatutory Stock Option Exercise Schedule: Same as Vesting Schedule Vesting Schedule: The option subject to this Award shall vest in accordance with the following vesting schedule, provided that Optionholder's employment shall continue until each vesting date: — 1/4th of the shares vest on the first anniversary of the Equity Grant Date. — 1/4th of the shares vest on the second anniversary of the Equity Grant Date. — 1/4th of the shares vest on the third anniversary of the Equity Grant Date. — 1/4th of the shares vest on the fourth anniversary of the Equity Grant Date. Payment: By one or a combination of the following methods of payment (described in the Stock Option Agreement): x Cash or check x Bank draft or money order payable to the Company x Pursuant to a Regulation T program (cashless exercise) if the shares are publicly traded x Delivery of already-owned shares if the shares are publicly traded x Net exercise The details of your option are as follows: 1. VESTING. (a) In General. Subject to the provisions of the Plan and the limitations contained herein, your option will vest as provided above, provided that vesting will cease upon the termination of your employment, and unvested options will be forfeited (and, in the case of termination for Cause, your vested options will also be forfeited). (b) Vesting Acceleration. Notwithstanding the foregoing and any other provisions of the Plan to the contrary, in the event that (i) your employment is terminated (x) by the Company without Cause or (y) by you for Good Reason, in either case within twelve (12) months following a Change of Control, then any option that was not cancelled in connection with such Change of Control in exchange for a cash payment will vest on the date of your termination of employment or (ii) your employment is terminated by the Company due to your death, then the vesting and exercisability of 100% of the then unvested Common Shares subject to your option shall be accelerated in full. View More

Severability. If all or any part of this Award Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Award Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Award Agreement (or part of such a Section) so declared to be unlawful or invalid will, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the f...ullest extent possible while remaining lawful and valid. EX-10.4 4 d873633dex104.htm EXHIBIT 10.4 EX-10.4 Exhibit 10.4 VALEANT PHARMACEUTICALS INTERNATIONAL, INC. 2014 OMNIBUS INCENTIVE PLAN MATCHING RESTRICTED STOCK UNIT AWARD AGREEMENT (MATCHING UNITS) Valeant Pharmaceuticals International, Inc. (the "Company"), pursuant to the Company's 2014 Omnibus Incentive Plan (the "Plan"), hereby awards to Participant a Restricted Stock Unit Award in the form of matching share units (the "Matching Restricted Stock Units" or the "Award"), payable in common shares of the Company ("Common Shares"), covering the number of Common Shares set forth below. This Award is subject to all of the terms and conditions as set forth herein (the "Award Agreement") and in the Plan, which is incorporated herein in its entirety. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan. Participant: Date of Grant: Number of Shares Subject to Award: Purchase Period: Calendar quarter ending on the Date of Grant (or, if the Date of Grant is not the last day of a calendar quarter, the full calendar quarter immediately preceding the Date of Grant) The details of your Award are as follows. View More