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Exhibit 10.2
QUEST DIAGNOSTICS INCORPORATED
Three Giralda Farms
Madison, New Jersey
January 31, 2011
Mr. Peter K. Hopkins
GlaxoSmithKline plc.
via Email
Dear Mr. Hopkins:
We understand you intend to sell approximately 30.8 million shares of your Quest Diagnostics Incorporated common stock. As discussed, we are willing to facilitate an orderly sale by purchasing a portion of these shares from you directly. Specifically, we are prepared to purchase 15,377,551 shares from you on the terms outlined in the attached term sheet.
Sincerely,
/s/ Michael G. Lukas
Michael G. Lukas
Vice President, Finance
AGREED AND ACCEPTED
GLAXOSMITHKLINE PLC
/s/ P.K. Hopkins
Name: P.K. Hopkins
Title: Authorized Signatory
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Summary of Terms
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Securities | Quest Diagnostics Incorporated common stock (the “Common Stock”) |
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Seller | SB Holdings Capital Inc. |
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Buyer | Quest Diagnostics Incorporated |
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Number of Shares | 15,377,551 shares |
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Price per Share | $54.30 |
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Trade Date | January 31, 2011 |
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Settlement Date | February 4, 2011 |
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