AMENDMENT NO. 1 TO EXECUTIVE EMPLOYMENT AGREEMENT
Exhibit 10.7
AMENDMENT NO. 1 TO EXECUTIVE EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EXECUTIVE EMPLOYMENT AGREEMENT (this “Amendment”) is made effective as
of the 2nd day of October, 2007, by and between Mylan Inc., a Pennsylvania corporation
formerly known as Mylan Laboratories Inc. (the “Company”), and Xxxxx Xxxxx (“Executive”).
WHEREAS, the Company and Executive are party to that certain Executive Employment Agreement
dated as of January 31, 2007 (the “Agreement”), pursuant to which the Company agreed to employ
Executive, and Executive accepted such employment, as more particularly described in the Agreement;
and
WHEREAS, the Company and Executive desire to amend the Agreement in accordance with Section 14
thereof, upon the terms and conditions set forth herein;
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:
1. Section 4(b) of the Agreement is hereby amended to change the percentage for the
discretionary Annual Bonus opportunity from seventy-five percent (75%) to one hundred percent
(100%).
2. (a) The parties acknowledge and agree that this Amendment is an integral part of the
Agreement. Notwithstanding any provision of the Agreement to the contrary, in the event of any
conflict between this Amendment and the Agreement or any part of either of them, the terms of this
Amendment shall control.
(b) Except as expressly set forth herein, the terms and conditions of the Agreement are and
shall remain in full force and effect.
(c) The Agreement, as amended hereby, sets forth the entire understanding of the parties with
respect to the subject matter thereof and hereof.
(d) This Amendment shall be governed by, interpreted under and construed in accordance with
the laws of the Commonwealth of Pennsylvania.
(e) This Amendment may be executed in any number of counterparts, each of which shall be an
original and all of which shall constitute one and the same document.
IN WITNESS WHEREOF, this Amendment has been duly executed and delivered as of the day and year
first above written.
| MYLAN INC. |
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| By: | /s/ Xxxxxx X. Xxxxx | |||
| Name: Xxxxxx X. Xxxxx | ||||
| Title: Vice Chairman & CEO | ||||
| EXECUTIVE: |
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| /s/ Xxxxx Xxxxx | ||||
| Xxxxx Xxxxx | ||||
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