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Exhibit 10.5
FIRST AMENDMENT TO
ALLERGAN, INC.
EXECUTIVE DEFERRED COMPENSATION PLAN
(RESTATED 2000)
The ALLERGAN, INC. EXECUTIVE DEFERRED COMPENSATION PLAN (restated 2000)
is hereby amended as follows:
A new Section 8.5 is hereby added to read as follows:
"8.5. Special Death Benefits for Corporate Officers. A Special Death
Benefit shall be payable to the Beneficiary of a Participant who dies
prior to termination of employment and who is a Corporate Officer of
Allergan, Inc. on the date of his or her death. The term "Corporate
Officer" means, as of January 1, 2000, the Corporation's President,
Chief Executive Officer and each of the Corporation's Corporate Vice
Presidents. The Corporation's Board of Directors may change the
definition of Corporate Officer hereafter by Board resolution. The
Special Death Benefit shall be One Million Five Hundred Thousand
Dollars ($1,500,000), unless such amount is adjusted by the Board, and
such amount shall be in addition to the death benefit that is described
in Section 8.1 and Section 8.2. Entitlement to the Special Death
Benefit shall be conditioned on (a) the Committee's determination that
the Participant has complied with all requests required by the insurer
which issues the life insurance described in Section 15.3, including
naming the Beneficiary, (b) such life insurance being in effect on the
date of death and providing death benefits in an amount sufficient to
cover the Special Death Benefit hereunder, and (c ) the Committee's
determination that the Participant is a Corporate Officer of Allergan,
Inc., on the date of his or her death."
IN WITNESS WHEREOF, Allergan, Inc. hereby executes this instrument
evidencing the above terms of the Allergan, Inc. Executive Deferred Compensation
Plan effective as of January 1, 2000.
By: /s/ Francis R. Tunney, Jr.
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Title: Secretary
