Page 46 - EndoProxy2012_final

endo | 100 Endo Boulevard | Chadds Ford, Pennsylvania 19317 40
Potential Payments Upon Termination or Change in Control
The following tables show the potential payments upon termination or change of control to the NEOs, as if such event(s)
took place on December 31, 2011. The amounts reflected in this table were determined in accordance using each NEO’s
employment agreement, individual award agreements and the respective Endo Pharmaceuticals Stock Incentive Plan to
which each award relates. The equity award acceleration amounts below were calculated using the closing stock price of
our stock on December 31, 2011 of $34.53.
(1) In the event of a TWOC by the Company or a QFGR by any of the NEOs, the Cash Separation Payment is equal to
two times the sum of the NEO’s current base salary plus target annual IC, payable in a lump-sum. In the event of
TWOC by the Company or a QFGR by any of the NEOs within 24 months after a Change of Control, all NEOs, other
than Ms. Manogue, will receive a Cash Separation Payment equal to two times the sum of their current base salary
plus target annual IC, payable in a lump-sum. Ms. Manogue, will receive a lump-sum payment equal to two times
the sum of her current base salary plus the greater of her (a) current annual IC target or (b) the actual annual IC
paid for the preceding year.
(2) Upon a TWOC by the Company or a QFGR by any of the NEOs (or upon disability for Mr. Holveck, Ms. McHugh and
Dr. Gergel only), health and welfare benefits including medical, dental, and vision as well as life insurance benefits
will continue to be provided, on a monthly basis, to each NEO for a period of 24 months subsequent to termination.
Additionally, in the event of death of Mr. Holveck, Ms. McHugh and Dr. Gergel only, health and welfare benefits
Name
Cash Separation
Payment (1)
Health and
Welfare and
Life Insurance
Benefits (2)
Disability
Insurance
Benefits (3)
Acceleration of
Equity Awards (in
the money value
at December 31,
2011) (4)
Value of Term
Life Insurance (5)
Excise Tax
Gross-up (6)
Termination for Cause, Resignation or Retirement
Mr. Holveck $ - $ - $ - $ - $ - $ -
Mr. Levin $ - $ - $ - $ - $ - $ -
Ms. McHugh $ - $ - $ - $ - $ - $ -
Dr. Gergel $ - $ - $ - $ - $ - $ -
Ms. Manogue $ - $ - $ - $ - $ - $ -
Death
Mr. Holveck $ - $ - $ - $ 14,731,221 $ 1,000,000 $ -
Mr. Levin $ - $ - $ - $ 4,759,493 $ 1,000,000 $ -
Ms. McHugh $ - $ 21,228 $ - $ 2,445,081 $ - $ -
Dr. Gergel $ - $ 21,228 $ - $ 4,687,093 $ 1,000,000 $ -
Ms. Manogue $ - $ - $ - $ 3,292,330 $ 1,000,000 $ -
Disability
Mr. Holveck $ - $ 39,989 $ 1,840,000 $ 698,300 $ - $ -
Mr. Levin $ - $ - $ 926,000 $ - $ - $ -
Ms. McHugh $ - $ 36,463 $ 760,000 $ - $ - $ -
Dr. Gergel $ - $ 39,066 $ 912,000 $ - $ - $ -
Ms. Manogue $ - $ - $ 720,000 $ - $ - $ -
Change of Control (COC)
Mr. Holveck $ - $ - $ - $ 14,731,221 $ - $ -
Mr. Levin $ - $ - $ - $ 4,759,493 $ - $ -
Ms. McHugh $ - $ - $ - $ 2,445,081 $ - $ -
Dr. Gergel $ - $ - $ - $ 4,687,093 $ - $ -
Ms. Manogue $ - $ - $ - $ 3,292,330 $ - $ -
Termination Without Cause (TWOC) or Quit for Good Reason (QFGR)
Mr. Holveck $ 4,840,000 $ 39,989 $ - $ 10,886,305 $ - $ -
Mr. Levin $ 1,993,300 $ 29,219 $ - $ 1,493,946 $ - $ -
Ms. McHugh $ 1,792,000 $ 36,463 $ - $ 887,140 $ - $ -
Dr. Gergel $ 1,971,600 $ 39,066 $ - $ - $ - $ -
Ms. Manogue $ 1,674,000 $ 36,952 $ - $ - $ - $ -
TWOC or QFGR Within 24 Months After COC
Mr. Holveck $ 4,840,000 $ 39,989 $ - $ - $ - $ -
Mr. Levin $ 1,993,300 $ 29,219 $ - $ - $ - $ -
Ms. McHugh $ 1,792,000 $ 36,463 $ - $ - $ - $ -
Dr. Gergel $ 1,971,600 $ 39,066 $ - $ - $ - $ -
Ms. Manogue $ 1,908,828 $ 36,952 $ - $ - $ - $ -