EX-10.13





 Exhibit 10.13 

BIOVENTUS STOCK PLAN 
 AS
AMENDED AND RESTATED JUNE 1, 2020 
 The purpose of the Bioventus Stock Plan (formerly known as the Bioventus LLC Phantom Profit
Interest Plan) (the “Plan”) is to provide eligible employees and independent members of the Board of Managers of Bioventus LLC (the “Company”) who are important to the success and growth of the business of the
Company an opportunity to share in the future appreciation in value of the Company by receiving grants under the Plan in the Company. The Company believes that the Plan will encourage participants to contribute materially to the growth of the
Company’s owners, thereby benefiting the Company, and will align the economic interests of the participants with those of the owners. Awards under the Plan shall consist of grants of Plan Units as described in Section 5
(“Awards”). Capitalized terms that are used but not defined herein shall have the respective meanings accorded to such terms in the Amended and Restated Limited Liability Company Agreement of the Company, as amended (the
“LLC Agreement”). 
 Definitions. 

“Bioventus Stock Plan Unit or “Plan Unit” means a right to receive cash in an amount equal to the Payment Amount
upon the Payment Event as set forth in the applicable Award Agreement under the Plan. 
 “Benchmark Amount” means the
cumulative distributions that must be made by the Company pursuant to the LLC Agreement before a Grantee is entitled to receive any distributions in respect of such Grantee’s Plan Units. The Benchmark Amount shall equal $840,849,878 or such
other greater amount as set forth in the applicable Award Agreement. 
 “Board Member” means an independent member of the
Board of Managers of the Company appointed or elected to the Board of Managers on or after January 1, 2016. 
 “Code”
means the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. 
 “Employee” means an
employee of the Company. 
 “Grantee” means an Employee or Board Member who receives an Award. 

“Initial Waterfall Distribution Event” means the closing of (i) a sale of Units representing a Percentage Interest of
more than 66.66%, or (ii) a sale of all or substantially all of the assets of the Company; provided that such event constitutes a change in ownership or a change in effective control of the Company within the meaning of Section 409A of the
Code. 
 “Management Distribution Cap” means 17.5% of the aggregate amount, if any, available for distribution pursuant to
Section 10.05(a)(v) of the LLC Agreement. 
 “Management Incentive Plan” means the Bioventus LLC Management Incentive
Plan. 
 “Payment Amount” means the amount payable with respect to each vested Plan Unit upon the applicable Payment Event.













 “Profit Interest Unit” means a
non-managing, non-voting ownership interest in the Company issued pursuant to Section 3.01(b) of the LLC Agreement and the Management Incentive Plan. 

“Qualifying Subsequent Waterfall Distribution Event” means a Subsequent Waterfall Distribution Event that constitutes a
change in ownership or a change in effective control of the Company within the meaning of Section 409A of the Code. 

“Subsequent Waterfall Distribution Event” means, following an Initial Waterfall Distribution Event under Section 1(a)
above with respect to Units representing a Percentage Interest of less than 100%, the closing of (i) a subsequent sale of Units, or (ii) a sale of all or substantially all of the assets of the Company 

“Termination Date” means in the case of an Employee, the date of the Grantee’s separation of service, as defined in
Section 409A of the Code, and in the case of a Board Member, resignation or removal from the Board of Managers of the Company. 

“Waterfall Distribution Event” means an Initial Waterfall Distribution Event or a Subsequent Waterfall Distribution Event.

 Administration 

Administration. The Plan shall be administered and interpreted by the Board of Managers (the “Administrator”) or by a
committee or subcommittee, which shall be appointed by the Administrator. To the extent that a committee or subcommittee administers the Plan, references in the Plan to the “Administrator” shall be deemed to refer to the committee or the
subcommittee. 
 Administrator Authority. The Administrator shall determine (i) the Employees and Board Members to receive
Awards, (ii) the size and terms of the Awards, (iii) the time when the Awards will be made, (iv) the applicable Payment Event, (v) the duration of any applicable vesting period, provided that such vesting period shall not be less
than four years and that the Award shall vest ratably over the vesting period, and (vi) the Benchmark Amount with respect to any Award. 

Administrator Determinations. The Administrator shall have full power and authority to administer and interpret the Plan, to make
factual determinations, and to adopt or amend such rules, regulations, agreements, and instruments for implementing the Plan and for the conduct of its business as it deems necessary or advisable. All powers of the Administrator shall be executed
without the approval or consent of the Grantees. 
 Interests Subject to the Plan 

Awards Authorized by the LLC Agreement. The total amount of Plan Units available for grants under the Plan, when combined with the total
amount of Profits Interest Units (as defined in the Management Incentive Plan) granted under the Management Incentive Plan and any other form of employee, management or other service provider equity or equity-related awards of the Company, shall not
result in aggregate distributions to the holders thereof in excess of the Management Distribution Cap (such amount determined, solely for this purpose, as if there were no Plan Units or Other Management Equity Awards (as defined in the LLC
Agreement)) (“Excess Distributions”), unless and to the extent that S&N and the Essex Members consent in their capacity as Members to such Excess Distributions. If, and to the extent that, Plan Units granted under the Plan
terminate or are canceled, forfeited, exchanged, or surrendered without payment, such Plan Units shall be available again for purposes of the Plan. 

  
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 Adjustments. If there is any change in the total amount or kind of Plan Units
outstanding (i) by reason of a spinoff, split of the Plan Units, reclassification, combination, or exchange of such Units or similar event; (ii) by reason of a merger, reorganization, or consolidation; (iii) by reason of any other
extraordinary or unusual event affecting the outstanding Plan Units as a class without the Company’s receipt of consideration; or (iv) by reason of a change in the structure of the Company, or if the value of the outstanding Plan Units are
substantially reduced as a result of a spinoff, the amount or percentage of such Plan Units covered by outstanding Awards, and the kind of Plan Units issued under the Plan shall be appropriately adjusted by the Administrator to reflect any increase
or decrease in the amount of, or change in the kind or value of, issued Plan Units to preclude, to the extent practicable, the enlargement or dilution of rights and benefits under such Awards. Any adjustments determined by the Administrator shall be
final, binding, and conclusive. 
 Eligibility for Participation 

All Employees and Board Members who are designated by the Administrator shall be eligible to participate in the Plan. 

Grants of Awards 
 Award
Agreement. All Awards shall be subject to the terms and conditions of this Plan, the terms of the LLC Agreement, and the Grantee’s award instrument (the “Award Agreement”). Each Award Agreement shall contain the number of
Plan Units underlying the Grantee’s Award and the applicable grant date Benchmark Amount (subject to adjustment as provided in the LLC Agreement), and each Award shall vest in accordance with the terms of the Grantee’s Award Agreement. The
Award Agreement shall also designate whether the Payment Amount shall be paid (i) upon the earlier of the Grantee’s Termination Date or an Initial Waterfall Distribution Event (with any subsequent amounts paid upon the earlier of a
Qualifying Subsequent Waterfall Distribution Event or the Grantee’s Termination Date) (a “Termination Payment Event”) or (ii) upon an Initial Waterfall Distribution Event, with any subsequent amounts paid upon the earlier
of (A) a Qualifying Subsequent Waterfall Distribution Event or (B) provided that a Subsequent Waterfall event has occurred, the fifth anniversary of the grant date (a “Waterfall Payment Event”) (a Termination Payment Event
or a Waterfall Payment Event, also referred to as the “Payment Event”). 
 Payment Amount. 

(i) If the Payment Event is a Termination Payment Event, the Payment Amount shall be, for each vested Plan Unit, an amount that would be
allocated to an equivalent number of Plan Units with an equivalent Benchmark Amount, (A) if the Grantee’s Termination Date is prior to a Waterfall Distribution Event, as if the Company were liquidated on the Termination Date at fair market
value (as determined in good faith by the Administrator), or (B) where there is an Initial Waterfall Distribution Event and one or more Subsequent Waterfall Distribution Events prior to the Termination Date, pursuant to the LLC Agreement with
respect to each such Waterfall Distribution Event. Such Payment Amount shall be paid to the Grantee within 30 days of the Termination Date, the Initial Waterfall Distribution Event, or any Qualifying Subsequent Waterfall Distribution Event, as
applicable. In the event that a Subsequent Waterfall Distribution Event is not a Qualifying Subsequent Waterfall Distribution Event, the Payment Amount with respect to such Subsequent Waterfall Distribution Event shall be paid within 30 days of the
Termination Date. No further Payment Amount shall be paid to the Grantee with respect to Waterfall Distribution Events following the Grantee’s Termination Date. 

  
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 (ii) Subject to (iii) below, if the Payment Event is a Waterfall Payment Event and a
Waterfall Distribution Event occurs before the Grantee’s Termination Date, the Payment Amount shall be equal to, for each vested Plan Unit, an amount that would be payable with respect to the equivalent number of Profit Interest Units with an
equivalent Benchmark Amount pursuant to the LLC Agreement. Such Payment Amount shall be paid to the Grantee within 30 days of an Initial Waterfall Distribution Event, and for any Subsequent Waterfall Distribution Event, shall be paid to the Grantee
within 30 days of the earlier of a Qualifying Subsequent Waterfall Distribution Event or the fifth anniversary of the date of grant. No Payment Amount shall be paid to the Grantee with respect to any Subsequent Waterfall Distribution Event that
is not a Qualifying Subsequent Waterfall Distribution Event and that occurs after the fifth anniversary of the Grant Date. 
 (iii) If the
Payment Event is a Waterfall Payment Event and a Waterfall Distribution Event occurs after the Grantee’s Termination Date, the Payment Amount with respect to such event shall in no event be greater than the lesser of, for each vested Plan Unit,
(A) an amount that would be allocated to an equivalent number of Profits Interest Units with an equivalent Benchmark Amount if the Company were liquidated on the valuation date next following the Termination Date at fair market value (as
determined in good faith by the Administrator) and (B) the amount specified in Section 5(b)(ii) above; provided that if a Waterfall Distribution Event occurs prior to the valuation date next following the Termination Date, the Payment
Amount shall be the amount specified in Section 5(b)(ii). Such Payment Amount shall be paid to the Grantee within 30 days of the Initial Waterfall Distribution Event, and for any Subsequent Waterfall Distribution Event, shall be paid to
the Grantee within 30 days of the earlier of a Qualifying Subsequent Waterfall Distribution Event or the fifth anniversary of the date of grant. No Payment Amount shall be paid to the Grantee with respect to any Subsequent Waterfall
Distribution Event that is not a Qualifying Subsequent Waterfall Distribution Event and that occurs after the fifth anniversary of the Grant Date. 

Acknowledgement by Grantee. All Awards shall be made conditional upon the Grantee’s acknowledgement, in writing or by acceptance
of the Award, that all decisions and determinations of the Administrator shall be final and binding on the Grantee, his or her beneficiaries, and any other person having or claiming an interest under such award. Awards need not be uniform as among
the Grantees. 

  
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 Forfeiture 

Termination of Employment. Any and all of an Employee Grantee’s unvested Plan Units shall be forfeited upon the termination of the
Grantee’s employment for any reason. 
 Termination of Membership on the Board of Managers. Any and all of a Board Member
Grantee’s unvested Plan Units shall be forfeited upon resignation or removal from the Board of Managers of the Company. 

Termination of Employment for Cause. Any and all of an Employee Grantee’s vested and unvested Plan Units shall be forfeited upon
the termination of the Grantee’s employment for Cause. For purposes of this Plan, “Cause” shall have the meaning set forth in the written employment agreement between the Grantee and the Company in effect on the date of the
Grantee’s termination of employment, or if no such agreement exists, shall mean (i) conviction (including guilty plea or plea of nolo contendere) of any felony or any other crime involving fraud, violence or dishonesty;
(ii) commission of or participation in a fraud or act of dishonesty or misrepresentation against the Company; (iii) violation of any written and fully executed contract or agreement between the Grantee and the Company, including without
limitation, breach of Grantee’s Proprietary Information, Inventions, Non-Competition and Non-Solicitation Agreement; (iv) gross negligence or willful
misconduct, (v) continued and substantial failure to perform the Grantee’s duties to the Company; or (vi) violation of any material policies, practices, or procedures of the Company. 

Removal from the Board of Managers. Any and all of a Board Member Grantee’s vested and unvested Plan Units shall be forfeited upon
the removal of the Grantee from the Board of Managers for Cause. For purposes of this Plan, “Cause” shall mean (i) conviction (including guilty plea or plea of nolo contendere) of any felony or any other crime involving fraud,
violence or dishonesty; (ii) commission of or participation in a fraud or act of dishonesty or misrepresentation against the Company; (iii) violation of any agreement between the Grantee and the Company; (iv) gross negligence or
willful misconduct; (v) continued and substantial failure to perform the Grantee’s duties to the Company as a Member of the Board of Managers of the Company; or (vi) violation of any material policies, practices, or procedures of the
Company including without limitation, the Company’s Code of Conduct and Confidential Information policies. 
 Waterfall Distribution
Event. As soon as practicable following an Initial Waterfall Distribution Event or any Subsequent Waterfall Distribution Event that results in an aggregate sale of Units representing a Percentage Interest of 100%, or upon a sale of all or
substantially all of the assets of the Company, all vested and unvested Plan Units shall be cancelled (after the Grantee has been paid any amounts due with respect to such Units, if applicable). 

Confidentiality, Non-Compete, Non-Solicitation.
Notwithstanding anything herein to the contrary, a Grantee shall forfeit any and all rights to all vested and unvested Plan Units if the Grantee violates the terms of any confidentiality, non-solicitation and non-competition provisions of any agreement between the Grantee and the Company, if applicable. 

  
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 Withholding of Taxes 

All Awards under the Plan shall be subject to applicable federal (including FICA), state, and local tax withholding requirements. The Company
may require that the Grantee pay to the Company the amount of any federal, state, or local taxes that the Company is required to withhold with respect to such Awards, or the Company may deduct from other wages paid by the Company the amount of any
withholding taxes due with respect to such Awards. 
 Nontransferability of Awards 

Only the Grantee has any rights under an Award. A Grantee may not transfer those rights, directly or indirectly, except by will or the laws of
descent and distribution. 
 Limitations on Issuance or Transfer of Plan Units 

No Plan Units shall be issued or transferred in connection with any Award until all legal requirements applicable to the issuance or transfer
of such Plan Units have been complied with to the satisfaction of the Administrator. The Administrator shall have the right to condition any Award made to any Grantee hereunder on such Grantee’s undertaking in writing to comply with any
restrictions on his or her subsequent disposition of such Plan Units as the Administrator shall deem necessary or advisable. 
 Amendment and
Termination of the Plan 
 Amendment and Termination. The Administrator may, in accordance with the LLC Agreement, amend the
Plan or any Award under the Plan, or terminate the Plan, at any time; provided that no amendment or termination of the Plan or any Award shall, without the consent of a Grantee, adversely impact the rights of any Grantee under any Award granted to
such Grantee under the Plan, unless necessary to meet the requirements of any applicable law or regulation. Before amending or terminating the Plan or any Award to meet the requirements of an applicable law or regulation, the Administrator will
attempt to bring the Plan or Award into compliance with the applicable law or regulation without reducing the benefits or payments to a Grantee to the greatest extent possible. If amendment or termination is still necessary and adversely impacts the
rights of a Grantee, the Administrator will reasonably cooperate with such Grantee to adopt replacement benefits or payments that to the greatest extent possible places the Grantee in the same or a comparable economic position as if the Plan or
Award had not been amended or terminated. 
 Governing Document. In the event of any conflict between any Award in the form attached
hereto as Exhibit A or B and the LLC Agreement, such Award shall control. In the event of any conflict between any subsequent Award not in the form attached hereto and the LLC Agreement, the LLC agreement shall control unless such subsequent Award
has been approved by the Board and Smith & Nephew, Inc., in which case such Award shall control. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be
binding upon and enforceable against the Company and its successors and assigns. 

  
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 Funding of the Plan 

This Plan shall be unfunded. The Company shall not be required to establish any special or separate fund or to make any other segregation of
assets to assure the payment of any Awards under this Plan. In no event shall interest be paid or accrued on any Award. 
 Rights of Grantees

 No Award shall entitle any Grantee to any (i) voting rights with respect to any action or decision taken or made (or to be
taken or made) by the Company or the Board of Managers, (ii) right to appoint Managers to the Board of Managers, or (iii) appraisal or preemption rights. Nothing in this Plan shall entitle any Employee, Board Member or any other person to
any claim or right to receive an Award under this Plan. Neither this Plan nor any action taken hereunder shall be construed as giving any individual any rights to be retained by or in the employ of the Company or any other employment rights. 

Headings 
 Section headings are for
reference only. In the event of a conflict between a title and the content of a Section, the content of the Section shall control. 
 Effective Date
of the Plan 
 The initial effective date of the Plan was May 4, 2012. The amended and restated version of the Plan shall be
effective on June 1, 2020. 
 Miscellaneous 

Compliance with Law. The Plan and the obligations of the Company to issue or transfer Plan Units in connection with Awards shall be
subject to all applicable laws and to approvals by any governmental or regulatory agency as may be required. The Administrator may revoke any Award if it is contrary to law or modify an Award to bring it into compliance with any valid and mandatory
government regulation. The Administrator may also adopt rules regarding the withholding of taxes on payments to Grantees. The Administrator may, in its sole discretion, agree to limit its authority under this Section. 

Governing Law. The validity, construction, interpretation, and effect of the Plan and Award Agreements issued under the Plan shall be
governed and construed by and determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws provisions thereof. 

  
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