ENDO INTERNATIONAL PLC (NASDAQ:ENDP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

0

ENDO INTERNATIONAL PLC (NASDAQ:ENDP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

On December 21, 2016, Endo International plc (Endo) announced
that Susan Hall has decided to terminate her employment by Endo
to pursue other opportunities. Effective as of December 21, 2016,
Ms. Hall will cease serving as Executive Vice President, Chief
Scientific Officer and Global Head of Research Development and
Quality, following which time she will serve as Strategic Advisor
for Branded Pharmaceuticals until her last day of employment on
March 31, 2017 (the Termination Date). A copy of Endos press
release announcing Ms. Halls departure is filed herewith as
Exhibit 99.1 and is incorporated herein by reference.
In connection with Ms. Halls departure, Endo Health Solutions
Inc. (the Company), an indirect, wholly-owned subsidiary of Endo,
entered into a Separation Agreement and General Release with Ms.
Hall, dated as of December 21, 2016 (the Separation Agreement).
Under the Separation Agreement, subject to Ms. Hall executing and
not revoking a release of claims, Ms. Hall will be entitled to
the following payments and benefits: a prorated 2017 bonus (based
on actual results), severance in an amount equal to two times the
sum of her base salary and target bonus, continued medical and
life insurance benefits for two years following the Termination
Date, reasonable expenses incurred by Ms. Hall for the
transportation of her personal items from Dublin, Ireland,
reimbursement for tax preparation services in respect of 2016 and
2017, and reimbursement for certain termination costs. In
addition, Ms. Halls outstanding equity awards will be treated in
accordance with the applicable equity plans and award agreements.
Under the Separation Agreement, Ms. Hall has agreed to serve as a
consultant to the Company for six months following the
Termination Date, for which she will receive an aggregate amount
equal to $250,000, payable in equal monthly installments. The
Separation Agreement includes a provision concerning
indemnification and covenants not to solicit, not to compete, not
to disparage and to cooperate with Endo and its affiliates.
The foregoing description of the Separation Agreement does not
purport to be complete and is qualified in its entirety by the
full text of the Separation Agreement, a copy of which is filed
herewith as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit Number
Description
10.1
Separation Agreement and General Release between Endo
Health Solutions Inc. and Susan Hall, dated as of
December 21, 2016.
99.1
Press Release of Endo International plc dated December
21, 2016.


About ENDO INTERNATIONAL PLC (NASDAQ:ENDP)