WYETH
WYETH 2005 AMENDED AND RESTATED STOCK INCENTIVE PLAN
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<TYPE>EX-10.1
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<FILENAME>dex101.htm
<DESCRIPTION>WYETH 2005 AMENDED AND RESTATED STOCK INCENTIVE PLAN
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<TITLE>Wyeth 2005 Amended and Restated Stock Incentive Plan</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>WYETH </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="4"><B>2005 AMENDED AND RESTATED STOCK INCENTIVE PLAN </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>(Including amendments through January&nbsp;25, 2007) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 1. <U>Purpose</U>.<B> </B>The purpose of the 2005 Amended and Restated Stock Incentive Plan (the &#147;<U>Plan</U>&#148;) is to provide favorable
opportunities for officers and other key employees (&#147;<U>Participants</U>&#148;) of Wyeth (the &#147;<U>Company</U>&#148;) and its subsidiaries to acquire shares of Common Stock of the Company and to benefit from the appreciation thereof. Such
opportunities should provide an increased incentive for Participants to contribute to the future success and prosperity of the Company, thus enhancing the value of the stock for the benefit of the stockholders, and increase the ability of the
Company to attract and retain individuals of exceptional skill upon whom, in large measure, its sustained progress, growth and profitability depend. It is the further purpose of this Plan to permit the granting of awards that will constitute
performance-based compensation for certain executive officers, as described in Section&nbsp;162(m) of the Internal Revenue Code of 1986, as amended (the &#147;<U>Code</U>&#148;), (&#147;<U>162(m) Awards</U>&#148;). </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Pursuant to the Plan, options to purchase the Company&#146;s Common Stock
(&#147;<U>Options</U>&#148;) and Restricted Stock (as defined in Section&nbsp;6) may be granted to Participants by the Company. Options granted under the Plan may be either incentive stock options, as defined in Section&nbsp;422(b) of the Code
herein referred to as &#147;incentive stock options,&#148; or options which do not meet the requirements of Section&nbsp;422(b) of the Code, herein referred to as &#147;non-qualified stock options.&#148; </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">It is intended, except as otherwise provided herein, that incentive stock
options may be granted under the Plan and that such incentive stock options shall conform to the requirements of Section&nbsp;422 and 424 of the Code and to the provisions of this Plan and shall otherwise be as determined by the Committee (as
hereinafter defined). The terms &#147;subsidiaries&#148; and &#147;subsidiary corporation&#148; shall have the meanings given to them by Section&nbsp;424 of the Code. All section references to the Code in this Plan are intended to include any
amendments or substitutions therefor subsequent to the adoption of the Plan. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">Section 2. <U>Administration</U>.<B> </B>The Plan shall be administered by a Compensation and Benefits Committee (the &#147;<U>Committee</U>&#148;) consisting of two or more members of the Board of Directors of the
Company (the &#147;<U>Board</U>&#148;), each of whom shall meet the requirements for (i)&nbsp;a &#147;non-employee director&#148; within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange
Act</U>&#148;), (ii)&nbsp;an &#147;outside director&#148; within the meaning of Section&nbsp;162(m) of the Code and (iii)&nbsp;an &#147;independent director&#148; under the New York Stock Exchange listing rules and any other required independence
standards. The Committee shall have full authority to grant Options and Restricted Stock, to interpret the Plan and to make such rules and regulations and establish such procedures as it deems appropriate for the administration of the Plan, taking
into consideration the recommendations of management. The decisions of the Committee shall be binding and conclusive for all purposes and upon all persons unless and except to the extent that the Board shall have previously directed that all or
specified types of </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">decisions of the Committee shall be subject to approval by the Board. Notwithstanding the foregoing and anything else in the Plan to the contrary, the
Committee, in its sole discretion, may delegate the Committee&#146;s authority and duties under the Plan to the Chief Executive Officer of the Company, or to any other committee, in either case to the extent permitted under applicable law, under
such conditions and limitations as the Board or the Committee may from time to time establish, except that only the Committee may make any determinations regarding awards to Participants who are subject to Section&nbsp;16 of the Exchange Act or
Section&nbsp;162(m) of the Code or which by law may not be delegated. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2">Section 3. <U>Number of Shares</U>.<B> </B>The total number of shares which may be sold or awarded under the Plan shall not exceed 45&nbsp;million shares of the Company&#146;s Common Stock, of which up to 6&nbsp;million may be granted as
Restricted Stock. The total number of shares for which Options may be granted under the Plan to any Participant during any one fiscal year of the Company shall not exceed 4.5&nbsp;million. The total number of shares for which Restricted Stock awards
that are intended to be 162(m) Awards may be granted under the Plan to any Participant during any one fiscal year of the Company shall not exceed 600,000, and the maximum number of shares that could be issued in respect of a 162(m) Award shall be
two times that limit. The shares may be authorized and unissued or issued and reacquired shares, as the Board from time to time may determine. Shares with respect to which Options are not exercised prior to termination of the Option, or that are
part of a Restricted Stock award that is forfeited before the restrictions lapse, shall again be available for Options and Restricted Stock thereafter granted under the Plan, to the fullest extent permitted by law. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 4. <U>Participation</U>.<B> </B>The Committee may, from time to time,
grant Options and Restricted Stock to Participants and shall determine the number of shares subject to each grant. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 5. <U>Terms and Conditions of Options</U>.<B> </B>The terms and conditions of each Option shall be set forth in an agreement or agreements between
the Company and the Participant. Such terms and conditions shall include the following as well as such other provisions, not inconsistent with the Plan, as may be deemed advisable by the Committee: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Number of Shares</U>.<B> </B>The number of shares
subject to the Option. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) <U>Option
Price</U>.<B> </B>The option price per share (the &#147;<U>Option Price</U>&#148;), shall not be less than 100% of the Fair Market Value of a share of the Company&#146;s Common Stock on the date the Option is granted. Fair Market Value of the Common
Stock as of any date, shall be deemed to be the closing price of the Common Stock on the Consolidated Transaction Reporting System on such date or if such date is not a trading day, on the most recent trading day prior to such date. Once granted,
except as provided in Section&nbsp;7, the Option Price of outstanding Options may not be reduced, whether by repricing exchange or otherwise. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>Date of Grant</U>.<B> </B>The date of grant of an Option shall be the date when the Committee meets and awards such Option, or such
later date as the Committee shall designate. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">2 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(d) <U>Payment</U>.<B> </B>The Option Price multiplied by the number of shares to be
purchased by exercise of an Option shall be paid upon the exercise thereof. Unless the terms of an Option provide to the contrary, upon exercise, the aggregate Option Price shall be payable (i)&nbsp;in cash equal to such aggregate Option Price,
(ii)&nbsp;in shares of the Company&#146;s Common Stock owned by the Participant (which, for so long as necessary to avoid adverse accounting treatment, must have been held by the Participant at least six months) having a Fair Market Value on the day
immediately preceding the date of exercise at least equal to such aggregate Option Price, (iii)&nbsp;a combination of the above methods, or (iv)&nbsp;by any other means approved by the Committee, including under any approved cashless exercise
mechanism. Payment of the aggregate Option Price shall be made and received by the Company prior to the delivery of the shares as to which the Option was exercised. The right to deliver, in full or partial payment of the Option Price, any
consideration other than cash shall be limited to such frequency as the Committee shall determine in its absolute discretion. A Participant shall have none of the rights of a stockholder with respect to an Option until the shares of Common Stock
underlying such Option are issued to him or her. In order to be validly exercised, the aggregate Option Price and all necessary exercise documentation must be submitted to the Company or its designated agent not later than the close of trading on
the date of expiration of the Option or, if such date is not a trading day, the close of trading on the last trading day prior to the date of expiration of the Option. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(e) <U>Term of Options</U>.<B> </B>Each Option granted pursuant to the Plan shall be for the term specified
in the applicable option agreement (the &#147;<U>Option Agreement</U>&#148;). </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">(f) <U>Exercise of Option</U>.<B> </B>Unless otherwise provided in the applicable Option Agreement, (i)&nbsp;no Option granted under the Plan may be exercisable earlier than the later of (A)&nbsp;one year from the
date of grant or (B)&nbsp;the date on which the Participant completes two years of continuous employment with the Company or one or more of its subsidiaries, and (ii)&nbsp;in the event of a Participant&#146;s death, Retirement (as defined below) or
Disability (as defined below), any Options held by such Participant shall become exercisable on his or her Retirement date, the date his or her employment terminates on account of Disability or the date of his or her death provided he or she has
been in the continuous employment of the Company or one or more of its subsidiaries for at least two years at such time. No Option may be exercised after it is terminated as provided in paragraph (g)&nbsp;of this Section, and no Option may be
exercised unless the Participant is then employed by the Company or any of its subsidiaries and shall have been continuously employed by the Company or one or more of such subsidiaries since the date of the grant of his or her Option, except
(x)&nbsp;as provided in paragraph (g)&nbsp;of this Section, and (y)&nbsp;in the case of the Participant&#146;s Retirement or Disability (in which case the Participant may exercise the Option to the extent he or she was entitled to exercise it at the
time of such termination or such shorter period as may be provided in the Option Agreement) or death (in which case the Option may be exercised by the Participant&#146;s legal representative or legatee or such other person designated by an
appropriate court as the person entitled to exercise such Option to the extent the Participant was entitled to exercise it at the time of his or her death). As used herein, &#147;<U>Retirement</U>&#148; shall mean termination of the
Participant&#146;s full-time employment on or after the earliest retirement age under any qualified retirement plan of the Company or its subsidiaries which covers </FONT>
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<FONT FACE="Times New Roman" SIZE="2">the Participant, or age 55 with 5 continuous years of such employment if there is no such plan, and &#147;<U>Disability</U>&#148; shall mean termination of
the Participant&#146;s full-time employment for reason of disability for purposes of at least one qualified retirement plan or long term disability plan maintained by the Company or its subsidiaries in which the Participant participates.
Non-qualified stock options and incentive stock options may be exercised regardless of whether other Options granted to the Participant pursuant to the Plan are outstanding or whether other stock options granted to the Participant pursuant to any
other plan are outstanding. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(g)
<U>Termination of Options</U>.<B> </B>Unless otherwise provided in the applicable Option Agreement, an Option, to the extent not validly exercised, shall terminate at the end of its stated term or, if earlier, upon the occurrence of the first of the
following events: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(i) Three months after
termination by the Company or one of its subsidiaries of the Participant&#146;s employment for any reason other than in the case of death, Retirement, Disability, or deliberate gross misconduct determined in the sole discretion of the Committee,
during which three month period the Option may be exercised by the Participant to the extent the Participant was entitled to exercise it at the time of such termination; </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(ii) Concurrently with the time of termination by the Company or one of its subsidiaries of the
Participant&#146;s employment for deliberate gross misconduct determined in the sole discretion of the Committee (for purposes only of this subparagraph (ii)&nbsp;an Option shall be deemed to be exercised when the Participant has received the stock
certificate (or valid instructions in the case of delivery of uncertificated shares) representing the shares for which the Option was exercised); or </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(iii) Concurrently with the time of a Participant&#146;s voluntary termination of his or her employment with the Company or one of its
subsidiaries for reasons other than Retirement or Disability. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">Notwithstanding the above, no Option shall be exercisable after termination of employment unless the Participant shall have, for the entire time period during which his or her Options were exercisable,
(a)&nbsp;refrained from becoming or serving as an officer, director, partner or employee of any individual proprietorship, partnership or corporation, or the owner of a business, or a member of a partnership which conducts a business in competition
with the Company or renders a service (including without limitation, advertising agencies and business consultants) to competitors with any portion of the business of the Company, (b)&nbsp;made himself or herself available, if so requested by the
Company, at reasonable times and upon a reasonable basis to consult with, supply information to, and otherwise cooperate with, the Company and (c)&nbsp;refrained from engaging in deliberate action which, as determined by the Committee, causes
substantial harm to the interests of the Company or, if occurring before termination of employment, would have otherwise constituted deliberate gross misconduct for purposes of Section </FONT>
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<FONT FACE="Times New Roman" SIZE="2">5(g)(ii). If these conditions are not fulfilled, the Participant shall forfeit all rights to any unexercised Option as of the date of the breach of the
condition. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(h) <U>Non-transferability of
Options</U>.<B> </B>Options shall not be transferable by the Participant other than by will or the laws of descent and distribution, and Options shall during his or her lifetime be exercisable only by the Participant<I>; </I><U>provided</U>,
<U>however</U>, that the Committee may, in its sole discretion, allow for transfer of Options (other than incentive stock options, unless such transferability would not adversely affect incentive stock option tax treatment) but only for estate
planning purposes. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(i) <U>Applicable Laws or
Regulations</U>.<B> </B>The Company&#146;s obligation to sell and deliver stock under the Option is subject to such compliance as the Company deems necessary or advisable with federal and state laws, rules and regulations. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(j) <U>Limitations on Incentive Stock Options</U>.<B> </B>To
the extent that the aggregate Fair Market Value of the Company&#146;s Common Stock, determined at the time of grant, with respect to which incentive stock options granted under this or any other Plan of the Company are exercisable for the first time
by a Participant during any calendar year exceeds $100,000, or such other amount as may be permitted under the Code, such excess shall be considered non-qualified stock options. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Notwithstanding anything in the Plan to the contrary, any incentive stock option granted to any Participant who, at the time
of grant, is the owner, directly or indirectly, of stock possessing more than ten percent (10%)&nbsp;of the total combined voting power of all classes of stock of the Company or any subsidiary thereof, shall (i)&nbsp;have a term not exceeding five
years from the date of grant and (ii)&nbsp;shall have an Option Price of not less than 110% of the Fair Market Value of the Company&#146;s Common Stock on the date the incentive stock option is granted. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 6. <U>Restricted Stock Awards</U>. <B></B>The Committee may, in its
sole discretion, from time to time, make awards of shares of the Company&#146;s Common Stock or awards of units representing shares of the Company&#146;s Common Stock, to Participants in such quantity, and on such terms, conditions and restrictions
(whether based on performance standards, periods of service or otherwise) as the Committee shall establish (&#147;<U>Restricted Stock</U>&#148;). Notwithstanding the foregoing sentence, any award of Restricted Stock that is intended to be a 162(m)
Award shall be subject to restrictions based on performance standards related to earnings, adjusted earnings or net income per share of Common Stock of the Company, price per share of Common Stock of the Company, return on equity or total
shareholder return of the Company&#146;s Common Stock, pre-tax profits, return on assets or invested capital, sales, operating income, cash flow measures, operating or profit margins, working capital measures, market share, income before taxes, net
income, adjusted net income, revenue, cost reductions or any combination of the foregoing. Such performance goals may be based on the achievement of specified levels of Company performance or performance of one or more divisions of the Company or
performance relative to the performance of other corporations. The terms, conditions and restrictions of any Restricted Stock award, including 162(m) Awards, made under this Plan shall be set forth in an agreement or agreements between the Company
and the Participant. The Committee retains the right to increase or decrease the amount of a Restricted Stock Award based on the degree to which any </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">performance goals are attained; <U>provided</U>, <U>however</U>, that with respect to a 162(m) Award, the Committee may not increase the amount of such
award, but may reduce the amount of such award below the maximum amount that could be paid in its discretion. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) <U>Issuance of Restricted Stock</U>.<B> </B>The Committee shall determine the manner in which Restricted Stock shall be held during
the period it is subject to restrictions. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b)
<U>Stockholder Rights</U>.<B> </B>Beginning on the date of grant of the Restricted Stock award and subject to the execution of the applicable award agreement by a Participant and subject to the terms, conditions and restrictions of the applicable
award agreement, the Committee shall determine to what extent the Participant has the rights of a stockholder of the Company including, but not limited to, whether the Participant has the right to vote the shares or to receive dividends or dividend
equivalents. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) <U>Restriction on
Transferability</U>.<B> </B>No Restricted Stock award may be assigned or transferred, pledged or sold prior to their delivery to a Participant or, in the case of a Participant&#146;s death, to the Participant&#146;s legal representative or legatee
or such other person designated by an appropriate court; <U>provided</U>, <U>however</U>, that the Committee may, in its sole discretion, allow for transfer of a Restricted Stock award but only for estate planning purposes. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(d) <U>Delivery of Shares</U>.<B> </B>Upon the satisfaction
of the terms, conditions and restrictions contained in the Restricted Stock award agreements or as otherwise determined by the Committee, the Company shall deliver, as soon as practicable, to the Participant (or permitted transferee), or in the case
of his or her death to his or her legal representative or legatee or such other person designated by an appropriate court, a stock certificate (or proper crediting in uncertificated shares) for the appropriate number of shares of the Company&#146;s
Common Stock, free of all such restrictions, except for any restrictions that may be imposed by law. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(e) <U>Forfeiture of Restricted Stock</U>.<B> </B>Subject to Section&nbsp;6(f), all of the shares or units with respect to a Restricted
Stock award shall be forfeited and all rights of the Participant with respect to such shares or units shall terminate unless the Participant continues to be employed by the Company or its subsidiaries until the expiration of the forfeiture period
and the satisfaction of any other conditions set forth in the applicable award agreement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(f) <U>Waiver of Forfeiture Period</U>.<B> </B>Notwithstanding any other provisions of the Plan, the Committee may, in its sole
discretion, waive the forfeiture period and any other conditions set forth in any award agreement under certain circumstances (including the death, Disability or Retirement of the Participant or a material change in circumstances arising after the
date of an award) and subject to such terms and conditions (including forfeiture of a proportionate number of the restricted shares) as the Committee shall deem appropriate; <U>provided</U>, <U>however</U>, that discretion to waive the forfeiture
period shall not apply to any 162(m) Awards. With respect to 162(m) Awards, the Committee shall have the right to provide in the applicable award agreement that the Restricted Stock shall be paid in the event of death, Disability or Retirement of
the Participant if the Committee </FONT>
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<FONT FACE="Times New Roman" SIZE="2">certifies that the applicable performance criteria have been satisfied, provided that in no event shall such 162(m) Award be paid prior to the date such
162(m) Award would have been paid had the Participant remained employed by the Company. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">Section 7. <U>Adjustment in Event of Change in Stock</U>.<B> </B>Subject to Section&nbsp;8, in the event of a stock split, stock dividend, cash dividend (other than a regular cash dividend), combination of shares,
merger, or other relevant change in the Company&#146;s capitalization, the Committee shall, subject to the approval of the Board of Directors, appropriately adjust the number and kind of shares available for issuance under the Plan (including the
number of shares that may be granted as Restricted Stock), the maximum number of shares for which Restricted Stock that are intended to be 162(m) Awards and Options may be granted to any Participant during any one fiscal year of the Company, the
number, kind and Option Price of shares subject to outstanding Options and the number and kind of shares subject to outstanding Restricted Stock awards; <U>provided</U>, <U>however</U>, that to the extent permitted in the case of incentive stock
options by Sections 422 and 424 of the Code, in the event that the outstanding shares of Common Stock of the Company are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company
or of another corporation, through reorganization, merger, consolidation, liquidation, recapitalization, reclassification, stock split-up, combination of shares or dividend, appropriate adjustment in the number and kind of shares as to which Options
may be granted and as to which Options or portions thereof then unexercised shall be exercisable, and in the Option Price thereof, shall be made to the end that the proportionate number of shares or other securities as to which Options may be
granted and the Participant&#146;s proportionate interests under outstanding Options shall be maintained as before the occurrence of such event; <U>provided</U>, that any such adjustment in (i)&nbsp;shares subject to outstanding Options (including
any adjustments in the Option Price) shall be made in such manner as not to constitute a modification as defined by subsection (h)(3) of Section&nbsp;424 of the Code; and <U>provided, further</U>, that, in the event of an adjustment in the number or
kind of shares under a Restricted Stock award pursuant to this Section&nbsp;7, any new shares or units issued to the Participant in respect thereof shall be subject to the same terms, conditions and restrictions as the underlying Restricted Stock
award for which the adjustment was made; <U>provided</U>, that any adjustments made to a Restricted Stock award that is intended to be a 162(m) Award shall be made in such a manner that the requirements of the exception to Code Section&nbsp;162(m)
continue to be satisfied. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 8. <U>Effect of a Change of
Control</U>. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(a) For purposes of this Section&nbsp;8,
&#147;Change of Control&#148; shall, unless the Board of Directors of the Company otherwise directs by resolution adopted prior thereto or, in the case of a particular award, the applicable award agreement states otherwise, be deemed to occur if
(i)&nbsp;any &#147;person&#148; (as that term is used in Sections 13 and 14(d)(2) of the Exchange Act) other than a Permitted Holder (as defined below) is or becomes the beneficial owner (as that term is used in Section&nbsp;13(d) of the Exchange
Act), directly or indirectly, of 50% or more of either the outstanding shares of Common Stock or the combined voting power of the Company&#146;s then outstanding voting securities entitled to vote generally, (ii)&nbsp;during any period of two
consecutive years, individuals who constitute the Board of Directors of the Company at the beginning of such period cease for any reason to constitute at least a majority thereof, unless the election or the nomination for election by the
Company&#146;s stockholders of each new director was approved by a </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">vote of at least three-quarters of the directors then still in office who were directors at the beginning of the period
or (iii)&nbsp;the Company undergoes a liquidation or dissolution or a sale of all or substantially all of the assets of the Company. No merger, consolidation or corporate reorganization in which the owners of the combined voting power of the
Company&#146;s then outstanding voting securities entitled to vote generally prior to said combination, own 50% or more of the resulting entity&#146;s outstanding voting securities shall, by itself, be considered a Change in Control. As used herein,
&#147;<U>Permitted Holder</U>&#148; means (i)&nbsp;the Company, (ii)&nbsp;any corporation, partnership, trust or other entity controlled by the Company and (iii)&nbsp;any employee benefit plan (or related trust) sponsored or maintained by the
Company or any such controlled entity. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(b) Except to the
extent reflected in a particular Option Agreement or award agreement, in the event of a Change of Control: </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(i) notwithstanding any vesting schedule, or any other limitation on exercise or vesting, all outstanding Options shall immediately become
100% vested and exercisable, and the restrictions shall expire immediately with respect to 100% of all outstanding Restricted Stock awards; and </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(ii) the Committee may, in its discretion and upon at least 10 days advance notice to the affected persons, cancel any outstanding Options
or Restricted Stock awards and pay to the holders thereof, in cash, the value of such awards based upon the highest price per share of Company Common Stock received or to be received by other stockholders of the Company in connection with the Change
of Control. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">(c) Notwithstanding any provision in the Plan to
the contrary, the provisions of this Section&nbsp;8 shall be administered in a manner that complies with Section&nbsp;409A of the Code. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 9. <U>Amendment and Discontinuance</U><B>. </B>The Board of Directors of the Company may from time to time amend or revise the terms of the Plan,
or may discontinue the Plan at any time as permitted by law, <U>provided</U>, <U>however</U>, that such amendment shall not (except as provided in Section&nbsp;7), without further approval of the stockholders, (i)&nbsp;increase the aggregate number
of shares with respect to which awards may be made under the Plan; (ii)&nbsp;change the manner of determining the Option Price (other than determining the Fair Market Value of the Common Stock to conform with applicable provisions of the Code or
regulations and interpretations thereunder); (iii)&nbsp;extend the term of the Plan or the maximum period during which any Option may be exercised or (iv)&nbsp;make any other change which, in the absence of stockholder approval, would be prohibited
by the listing requirements of the national stock exchange on which the Common Stock is listed and traded, or would cause awards granted under the Plan which are then outstanding, or which may be granted in the future, and which are intended to be
Section&nbsp;162(m) Awards, to fail to meet the exemptions provided by Section&nbsp;162(m) of the Code. No amendments, revision or discontinuance of the Plan shall, without the consent of a Participant, in any manner adversely affect his or her
rights under any Awards theretofore granted under the Plan. Notwithstanding any provision in the Plan to the contrary, the Committee shall have the right to unilaterally amend, revise or discontinue the Plan, and any provision of the Plan and the
Committee shall have the right to unilaterally amend, revise or discontinue any Option Agreement or award agreement, any provision of an Option Agreement </FONT>
</P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<FONT FACE="Times New Roman" SIZE="2">or award agreement and any Participant elections under an Option Agreement or award agreement, in each case, without the consent of any Participant, where
such amendment, revision or discontinuance is necessary or desirable to comply with applicable law or to ensure that, with respect to any Option, Restricted Stock award, or the cash or shares of common stock into which they are converted, the
Participant is not subject to adverse or unintended tax consequences under Section&nbsp;409A of the Code; <U>provided</U>, <U>however</U>, that, with respect to any Option, nothing in the Plan shall require any amendment or revision to the
definition of Change in Control. The discontinuance of the Plan shall not result in the acceleration of issuance of shares of Wyeth common stock, to the extent that such shares constitute a deferral of compensation for purposes of Section&nbsp;409A
of the Code, unless (i)&nbsp;all arrangements sponsored by the Company that would be aggregated with the Plan under Section&nbsp;409A if the same Participant participated in all such arrangements are termination, (ii)&nbsp;no payments, other than
payments that would be payable under the terms of such arrangements if the termination had not occurred, are made within 12 months of the termination of such arrangements, (iii)&nbsp;all payments are made within 24 months of the termination of the
arrangements and (iv)&nbsp;the Company does not adopt a new arrangement that would be aggregated with the Plan under Section&nbsp;409A if the same Participant participated in both arrangements, at any time within the five years following the date of
Plan termination. All determinations and actions made by the Board of Directors or the Committee pursuant to this Section shall be final, conclusive and binding on all persons. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 10. <U>Effective Date and Duration</U>.<B> </B>The Plan was originally adopted by the Board of Directors of the
Company on March&nbsp;3, 2005, subject to approval by the stockholders of the Company at a meeting held in April 2005. The Plan was approved at the April 2005 annual meeting. The Plan was amended and restated on January&nbsp;25, 2007, subject to the
approval of the stockholders of the Company at a meeting to be held on April&nbsp;26, 2007. No award of Restricted Stock that is intended to be a 162(m) Award shall become binding until the Plan (as amended and restated) is approved by a vote of the
stockholders in a manner which complies with Section&nbsp;162(m) of the Code at a meeting to be held on April&nbsp;26, 2007. In the event that the Plan (as amended and restated) is not approved by the stockholders, the terms of the Plan as in effect
prior to the amendment and restatement shall remain in full force and effect. No Option may be granted and no stock may be awarded under the Plan before March&nbsp;3, 2005 nor after March&nbsp;3, 2015. </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 11. <U>Tax Withholding</U>. Notwithstanding any other provision of the Plan, the Company or its
subsidiaries, as appropriate, shall have the right to deduct from all awards under the Plan cash and/or stock, valued at Fair Market Value on the date of payment, an amount necessary to satisfy all federal, state or local taxes as required by law to
be withheld with respect to such awards. In the case of awards paid in the Company&#146;s Common Stock, the Participant or permitted transferee may be required to pay to the Company or a subsidiary thereof, as appropriate, the amount of any such
taxes which the Company or subsidiary is required to withhold, if any, with respect to such stock. Subject in particular cases to the disapproval of the Committee, the Company may accept shares of the Company&#146;s Common Stock of equivalent fair
market value in payment of such withholding tax obligations if the Participant elects to make payment in such manner. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section 12. <U>Construction and Conditions</U>. The Plan and Options and Restricted Stock granted thereunder shall be governed by and construed in
accordance with the laws of the State of Delaware and in accordance with such federal law as may be applicable. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Neither the existence of the Plan nor the grant of any Options or Restricted Stock pursuant to the Plan shall create in any Participant the right to
continue to be employed by the Company or its subsidiaries. Employment shall be &#147;at will&#148; and shall be terminable &#147;at will&#148; by the Company or the Participant with or without cause. Any oral statements or promises to the contrary
are not binding upon the Company or the Participant. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Section
13. <U>Section&nbsp;409A</U>. To the extent that any payments or benefits provided hereunder are considered deferred compensation subject to 409A, the Company intends for the Plan to comply with the standards for nonqualified deferred compensation
established by Section&nbsp;409A (the &#147;409A Standards&#148;). To the extent that any terms of the Plan would subject Participants to gross income inclusion, interest or an additional tax pursuant to Section&nbsp;409A, those terms are to that
extent superseded by the 409A Standards. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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