Allergan Finance LLC 8-K 2009
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
August 13, 2009
Date of Report (Date of earliest event reported)
WATSON PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
311 Bonnie Circle
Corona, California, 92880
(Address of principal executive offices) (Zip Code)
(Registrants telephone number, including area code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 13, 2009, Watson Pharmaceuticals Inc. (the Company) entered into a second amendment (the Amendment) to its employment agreement with Thomas R. Russillo, the Companys Executive Vice President and President, Generic Division. The Amendment extends Mr. Russillos employment agreement for an additional year to December 31, 2010. The Amendment also provides that Mr. Russillo will receive a lump sum severance payment, subject to standard withholdings or deductions, in an amount equal to either (i) if Mr. Russillos employment is terminated during 2009, 12 months base salary, plus Mr. Russillos target bonus for 2009, plus Mr. Russillos pro-rated bonus for 2009; or (ii) if Mr. Russillos employment is terminated during 2010, Mr. Russillos base salary for the remainder of 2010, plus Mr. Russillos target bonus for 2010. The foregoing description of the Amendment is qualified in its entirety by reference to the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.